Subsea 7 S.A (SUBC) Fair Value & Analysis
Energy · NO · Market cap 93.3B NOK
Fair value as of: Jul 18, 2026
From 26 valuation models · updated 13 days ago
Fair value updated Jul 18, 2026, revised from kr 236.14 to kr 227.98 (−3.5%) since Jun 24, 2026. Share price −7.5% over the past month.
What matters now
- A high-quality business (quality 75/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (kr 284.92). The favourable scenario is already priced in.
Price vs Fair Value (12 months)
12‑month range kr 175.18 – kr 351.00 · fair‑value band kr 170.94 – kr 284.92 · the kr 312.80 price screens above the kr 227.98 fair value. As of Jul 18, 2026.
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Subsea 7 S.A (SUBC) currently trades at kr 312.80, while our model-based Fair Value estimate is kr 227.98, implying the stock looks roughly 27.1% overvalued today. We read business quality at 75/100 (high quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Subsea 7 S.A generated revenue of 7.3B NOK at a net margin of 6.7%. Revenue grew 17.0% year over year. It earns a return on equity of 10.9%. Net debt stands at 621M NOK. Fundamentals as of Jul 18, 2026
Our scenario range runs from kr 170.94 (bear case) to kr 284.92 (bull case); at kr 312.80, the current price sits above that range. The share trades about 8% below its 52-week high and 94% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -32% fair-value upside, at -27%, SUBC screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.
Quality Score breakdown
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide. The company offers subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed …
Full company description
Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide. The company offers subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore. It also provides remotely operated vehicles and tooling services to support exploration and production activities and to deliver full life-of-field services; procurement and installation of offshore wind turbine foundations and inter-array cables, as well as heavy lifting operations for renewables structures and heavy transportation services; and engineering and advisory services to clients in the oil and gas, renewables, and utilities industries. In addition, the company offers engineering, procurement, installation, and commissioning of subsea oil and gas systems in deep waters; fabrication, installation, extension, and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments; inspection, and repair and maintenance services, management of subsea infrastructure, and remote intervention support; and carbon capture, utilization, and storage services. The company was incorporated in 1993 and is based in Luxembourg, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Subsea 7 S.A reported revenue of kr 7.1B in FY2025 versus kr 5.0B in FY2021, a compound +9.1%/yr. Reported net income was kr 411M in FY2025, compounding +89.7%/yr from FY2021.
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Recent news
- EC launches detailed investigation into Saipem and Subsea 7 merger
- ACCC orders phase two review of Saipem-Subsea7 merger
- Saipem and Subsea7 Progress Merger Amid Saudi Asset Sale
- Subsea 7 S.A. second quarter 2026 earnings call notification
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Insider activity: 40/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SLB N.V SLBN | 993.35 MXN | 30.75 MXN | -97% |
| Baker Hughes Company B1KR34 | R$337.00 | R$145.44 | -57% |
| Halliburton Company HALI34 | R$180.37 | R$19.40 | -89% |
| TechnipFMC plc FTI | $67.39 | $27.96 | -59% |
| Tenaris S.A TNRSF | $27.56 | $23.75 | -14% |
| Yantai Jereh Oilfield Services Group 002353 | ¥144.80 | ¥53.54 | -63% |
| Saipem SpA SAPMY | $0.9100 | $0.6200 | -32% |
| China Oilfield Services Limited 601808 | ¥11.92 | ¥20.38 | +71% |
| Gaztransport & Technigaz SA GZPZY | $46.58 | $45.02 | -3% |
| Technip Energies N.V THNPY | $37.97 | $38.95 | +3% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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