Viking Supply Ships AB (VSSAB-B) Fair Value & Analysis
Industrials · SE · Market cap 1.9B SEK (≈ $195M) · ISIN SE0010820613
What is Viking Supply Ships AB really worth?
A solid business, but trading 52% above our fair value of kr 101.56.
Strengths
Risks
Fair value as of: Aug 28, 2026
From 25 valuation models · updated 8 days ago
Share price +6.2% over the past month.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits above even our optimistic bull case (kr 115.19). The favourable scenario is already priced in.
- Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 28, 2026.
How to read this chart
60‑month range kr 31.70 – kr 156.00 · fair‑value band kr 69.11 – kr 115.19 · the kr 154.00 price screens above the kr 101.56 fair value. Dashed = 300-day average. As of Aug 28, 2026.
Analysis
Viking Supply Ships AB (VSSAB-B) currently trades at kr 154.00, while our model-based Fair Value estimate is kr 101.56, implying the stock looks roughly 51.6% overvalued today. The Quality Score stands at 54/100 (solid quality), in the Industrials sector. Bull case: the DCF Models group reads highest at a median of kr 165.89 per share, and 9 of the 25 models we run sit above the kr 154.00 price. Bear case: the Earnings-Based group reads lowest at kr 37.83, and 16 of the 25 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Viking Supply Ships AB generated revenue of 1.0B SEK at a net margin of 10.5%. Revenue grew 70.7% year over year. It earns a return on equity of 5.5%. Net debt stands at 803M SEK. Fundamentals as of Aug 28, 2026
Our scenario range runs from kr 69.11 (bear case) to kr 115.19 (bull case); at kr 154.00, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades near its 52-week high and 55% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at 42% fair-value upside, at −34%, VSSAB-B screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 5.54 per share, which is 5.5 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small. Every input is real reported data, nothing guessed.
All 25 models by family
Widest divergence: DCF Models (kr 165.89) versus Dividend Discount (kr 4.87). Highest evidence: FCF DCF (79).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 28, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 71
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Viking Supply Ships AB (publ) provides offshore anchor handling and ice-breaking services to oil industry primarily in the Arctic and North Sea. The company offers ice-classed Anchor Handling Tug Supply (AHTS), which performs icebreaking and tasks in the offshore industry, such as repositioning of rigs and anchor handling.
Full company description
Viking Supply Ships AB (publ) provides offshore anchor handling and ice-breaking services to oil industry primarily in the Arctic and North Sea. The company offers ice-classed Anchor Handling Tug Supply (AHTS), which performs icebreaking and tasks in the offshore industry, such as repositioning of rigs and anchor handling. It operates through a fleet of 7 vessels. The company operates in Sweden, Norway, Denmark, France, the United Kingdom, the Netherlands, Spain, Italy, Greece, Canada, Singapore, Australia, and internationally. The company was formerly known as Rederi AB TransAtlantic (publ) and changed its name to Viking Supply Ships AB (publ) in April 2015. Viking Supply Ships AB (publ) was founded in 1946 and is headquartered in Stenungsund, Sweden. Viking Supply Ships AB (publ) is a subsidiary of Viking Invest AS.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Viking Supply Ships AB reported revenue of 924M SEK in FY2025 versus 311M SEK in FY2021, a compound +31.2%/yr. Reported net income was 55.0M SEK in FY2025.
VSSAB-B screens 52% overvalued. Compare with Adani Ports and Special Economic Zone Limited →
Peer Group
Marine Shipping · 232 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Marine Shipping median · lower = cheaper
Strength profile in five axes (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.
VALUE 0: the price sits above our fair-value range.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Marine Shipping stocks, each showing price versus our Fair Value estimate (as of Aug 28, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Adani Ports and Special Economic Zone Limited ADANIPORTS | ₹1,714 | ₹1,041 | −39% |
| A.P. Møller - Mærsk A/S MAERSKA | kr 20,820 | kr 20,145 | −3% |
| 532921 532921 | ₹1,697 | ₹1,305 | −23% |
| COSCO SHIPPING Holdings 601919 | ¥16.06 | ¥49.90 | +211% |
| Hapag-Lloyd Aktiengesellschaft, HLAG | €132.80 | €88.00 | −34% |
| Shanghai International Port (Group) Co 600018 | ¥5.17 | ¥6.15 | +19% |
| HMM Co 011200 | 21,450 KRW | 33,795 KRW | +58% |
| Orient Overseas (International) Limited 0316 | HK$166.90 | HK$237.61 | +42% |
| Ningbo Zhoushan Port Company 601018 | ¥3.39 | ¥5.58 | +65% |
| Qingdao Port International Co 601298 | ¥8.69 | ¥15.97 | +84% |
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