Valuation Overview

Growth Story

Over the next few years, revenue is expected to grow by 14.44%, higher than industry average of 9.74%.

Growth Trajectory

Profitability

In the growth phase company makes 18.17% profit on every dollar of sales, higher than industry average of 7.97%.

Profitability Trajectory

Risk Profile

Investors expect at least 8.01% return to justify the risk of holding stock.

Risk vs Return

Required Return (Cost of Capital) (%)
Return on Invested Capital (%)

Financial Health Overview

Enterprise Value
192.96B NOK
Equity Value
201.44B NOK
FCF Yield
46.31%
Average ROIC
54.63%
Cost of Capital
8.02%
P/E Ratio
32.65x
Financial MetricMost Recent 12 months (NOK)Previous Year (NOK)
Revenues53.15B NOK48.87B NOK
Operating Income or EBIT10.33B NOK7.10B NOK
Interest Expense510M NOK489M NOK
Book Value Of Equity18.36B NOK18.68B NOK
Book Value Of Debt5.31B NOK4.69B NOK
Cash and Marketable Securities14.38B NOK14.29B NOK
Number of Shares Outstanding879.59M--
Minority interests593M NOK0 NOK
Current Stock Price294.55 NOK--
Effective Tax Rate22.00%--
Marginal Tax Rate22.00%--

Performance vs Industry

Revenue Growth
-0.99%
8.74%Company
vs
9.73%Industry
Below Industry
Operating Margin
+11.47%
19.44%Company
vs
7.97%Industry
Above Industry
Kongsberg Gruppen ASA demonstrates superior operational efficiency with margins above industry average, indicating effective cost management.

Terminal Value Analysis

Growth Rate
3.84%
Cost of Capital
8.07%
Return on Capital
8.06%
Reinvestment Rate
47.58%
Terminal value represents 65% of total enterprise value, based on 3.84% perpetual growth and 8.07% discount rate.

Equity Value Breakdown

ComponentValueType
Present Value (Terminal Value) 126.17B NOK Add
Present Value (Cash Flow Over Next 10 Years) 66.79B NOK Add
Value of Operating Assets 192.96B NOK Sub-total
Debt 5.31B NOK Subtract
Minority Interests 593.00M NOK Subtract
Cash 14.38B NOK Add
Value of Equity 201.44B NOK Sub-total
Number of Shares 879.59M shares Divisor
Estimated Value per Share (Fair Value) 229.01 NOK Total
Current Market Price 299.20 NOK Reference

Financial Projections

Total FCF Present Value
66.79B NOK
Avg Revenue Growth
9.92%
Avg Operating Margin
17.88%
Avg ROIC
54.63%
Year 2026 2027 2028 2029 2030 2031 2032 2033 2034 2035 Terminal Year
REVENUE
Revenue62.24B NOK71.22B NOK81.50B NOK93.27B NOK106.74B NOK119.89B NOK132.11B NOK142.78B NOK151.29B NOK157.10B NOK163.14B NOK
Growth Rate 17.11% 14.43% 14.43% 14.43% 14.43% 12.31% 10.19% 8.07% 5.95% 3.84% 3.84%
PROFITABILITY
Operating Income12.10B NOK13.24B NOK14.80B NOK16.54B NOK18.48B NOK20.76B NOK22.87B NOK24.72B NOK26.19B NOK27.20B NOK28.25B NOK
Operating Margin 19.44% 18.59% 18.16% 17.74% 17.31% 17.31% 17.31% 17.31% 17.31% 17.31% 17.31%
EBIT (1-tax)9.43B NOK10.32B NOK11.54B NOK12.90B NOK14.41B NOK16.19B NOK17.84B NOK19.28B NOK20.43B NOK21.22B NOK22.03B NOK
CASH FLOW
Reinvestment4.17B NOK4.77B NOK5.46B NOK6.25B NOK6.10B NOK4.66B NOK4.07B NOK3.24B NOK2.21B NOK2.30B NOK10.48B NOK
Free Cash Flow5.26B NOK5.55B NOK6.08B NOK6.65B NOK8.30B NOK11.52B NOK13.77B NOK16.03B NOK18.21B NOK18.91B NOK11.54B NOK
Terminal Value--------------------273.04B NOK
Present Value4.87B NOK4.75B NOK4.82B NOK4.88B NOK5.65B NOK7.26B NOK8.02B NOK8.65B NOK9.09B NOK8.74B NOK—
EFFICIENCY
ROIC 101.63% 76.73% 63.32% 54.45% 48.12% 44.89% 43.80% 43.04% 42.52% 42.21% 8.06%
Cost of Capital 8.00% 8.00% 8.00% 8.00% 8.00% 8.01% 8.03% 8.04% 8.05% 8.06% 8.07%
Sales/Capital 2.15x 2.15x 2.15x 2.15x 2.15x 2.62x 2.62x 2.62x 2.62x 2.62x —

Profitability & Efficiency

Operating Margin (%)
ROIC (%)

Value Creation Analysis

ROIC (%)
Cost of Capital (%)

Operational Cash Flow Analysis

Free Cash Flow (krB)
Reinvestment (krB)