AF GRUPPEN ASA (AFG.OL) Stock Fundamental Analysis

OSL:AFG • NO0003078107

186.4 NOK
-2.6 (-1.38%)
Last: Feb 17, 2026, 04:19 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

Overall AFG gets a fundamental rating of 5 out of 10. We evaluated AFG against 46 industry peers in the Construction & Engineering industry. AFG has only an average score on both its financial health and profitability. AFG has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year AFG was profitable.
  • In the past year AFG had a positive cash flow from operations.
  • In the past 5 years AFG has always been profitable.
  • In the past 5 years AFG always reported a positive cash flow from operatings.
AFG.OL Yearly Net Income VS EBIT VS OCF VS FCFAFG.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

1.2 Ratios

  • With a decent Return On Assets value of 6.16%, AFG is doing good in the industry, outperforming 69.57% of the companies in the same industry.
  • AFG has a Return On Equity of 38.14%. This is in the better half of the industry: AFG outperforms 78.26% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 19.65%, AFG belongs to the top of the industry, outperforming 80.43% of the companies in the same industry.
  • AFG had an Average Return On Invested Capital over the past 3 years of 15.77%. This is above the industry average of 12.66%.
  • The last Return On Invested Capital (19.65%) for AFG is above the 3 year average (15.77%), which is a sign of increasing profitability.
Industry RankSector Rank
ROA 6.16%
ROE 38.14%
ROIC 19.65%
ROA(3y)4.7%
ROA(5y)5.88%
ROE(3y)27.22%
ROE(5y)31.5%
ROIC(3y)15.77%
ROIC(5y)17.17%
AFG.OL Yearly ROA, ROE, ROICAFG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

1.3 Margins

  • AFG's Profit Margin of 3.33% is on the low side compared to the rest of the industry. AFG is outperformed by 60.87% of its industry peers.
  • In the last couple of years the Profit Margin of AFG has declined.
  • AFG's Operating Margin of 4.69% is on the low side compared to the rest of the industry. AFG is outperformed by 65.22% of its industry peers.
  • In the last couple of years the Operating Margin of AFG has declined.
  • The Gross Margin of AFG (34.66%) is comparable to the rest of the industry.
  • AFG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 4.69%
PM (TTM) 3.33%
GM 34.66%
OM growth 3Y-13.09%
OM growth 5Y-7.84%
PM growth 3Y-14.18%
PM growth 5Y-9.36%
GM growth 3Y2.15%
GM growth 5Y0.2%
AFG.OL Yearly Profit, Operating, Gross MarginsAFG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40

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ROAROEROICOperating and Profit MarginShow most profitable peers

5

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AFG is creating value.
  • Compared to 1 year ago, AFG has more shares outstanding
  • Compared to 5 years ago, AFG has more shares outstanding
  • The debt/assets ratio for AFG has been reduced compared to a year ago.
AFG.OL Yearly Shares OutstandingAFG.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
AFG.OL Yearly Total Debt VS Total AssetsAFG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B

2.2 Solvency

  • An Altman-Z score of 2.97 indicates that AFG is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • AFG's Altman-Z score of 2.97 is fine compared to the rest of the industry. AFG outperforms 76.09% of its industry peers.
  • The Debt to FCF ratio of AFG is 0.53, which is an excellent value as it means it would take AFG, only 0.53 years of fcf income to pay off all of its debts.
  • AFG has a Debt to FCF ratio of 0.53. This is amongst the best in the industry. AFG outperforms 93.48% of its industry peers.
  • A Debt/Equity ratio of 0.45 indicates that AFG is not too dependend on debt financing.
  • With a decent Debt to Equity ratio value of 0.45, AFG is doing good in the industry, outperforming 60.87% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 0.53
Altman-Z 2.97
ROIC/WACC2.33
WACC8.43%
AFG.OL Yearly LT Debt VS Equity VS FCFAFG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B 2.5B

2.3 Liquidity

  • AFG has a Current Ratio of 0.70. This is a bad value and indicates that AFG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • AFG has a worse Current ratio (0.70) than 97.83% of its industry peers.
  • A Quick Ratio of 0.67 indicates that AFG may have some problems paying its short term obligations.
  • The Quick ratio of AFG (0.67) is worse than 95.65% of its industry peers.
Industry RankSector Rank
Current Ratio 0.7
Quick Ratio 0.67
AFG.OL Yearly Current Assets VS Current LiabilitesAFG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B 8B 10B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

4

3. Growth

3.1 Past

  • AFG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 103.53%, which is quite impressive.
  • The Earnings Per Share has been decreasing by -5.07% on average over the past years.
  • AFG shows a small growth in Revenue. In the last year, the Revenue has grown by 3.01%.
  • The Revenue has been growing slightly by 6.26% on average over the past years.
EPS 1Y (TTM)103.53%
EPS 3Y-12.01%
EPS 5Y-5.07%
EPS Q2Q%27.03%
Revenue 1Y (TTM)3.01%
Revenue growth 3Y3.21%
Revenue growth 5Y6.26%
Sales Q2Q%8.31%

3.2 Future

  • Based on estimates for the next years, AFG will show a quite strong growth in Earnings Per Share. The EPS will grow by 15.98% on average per year.
  • AFG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 3.60% yearly.
EPS Next Y64.84%
EPS Next 2Y33.52%
EPS Next 3Y24.92%
EPS Next 5Y15.98%
Revenue Next Year4.86%
Revenue Next 2Y5.36%
Revenue Next 3Y4.7%
Revenue Next 5Y3.6%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
AFG.OL Yearly Revenue VS EstimatesAFG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 10B 20B 30B
AFG.OL Yearly EPS VS EstimatesAFG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8 10

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5

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings ratio is 19.52, which indicates a rather expensive current valuation of AFG.
  • AFG's Price/Earnings is on the same level as the industry average.
  • AFG's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 27.19.
  • AFG is valuated rather expensively with a Price/Forward Earnings ratio of 17.47.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of AFG indicates a slightly more expensive valuation: AFG is more expensive than 65.22% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.06, AFG is valued a bit cheaper.
Industry RankSector Rank
PE 19.52
Fwd PE 17.47
AFG.OL Price Earnings VS Forward Price EarningsAFG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • AFG's Enterprise Value to EBITDA is on the same level as the industry average.
  • 89.13% of the companies in the same industry are more expensive than AFG, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 6.86
EV/EBITDA 9.36
AFG.OL Per share dataAFG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200

4.3 Compensation for Growth

  • AFG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • The decent profitability rating of AFG may justify a higher PE ratio.
  • A more expensive valuation may be justified as AFG's earnings are expected to grow with 24.92% in the coming years.
PEG (NY)0.3
PEG (5Y)N/A
EPS Next 2Y33.52%
EPS Next 3Y24.92%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • AFG has a Yearly Dividend Yield of 2.62%.
  • AFG's Dividend Yield is a higher than the industry average which is at 2.21.
  • Compared to an average S&P500 Dividend Yield of 1.82, AFG pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 2.62%

5.2 History

  • The dividend of AFG decreases each year by -16.34%.
Dividend Growth(5Y)-16.34%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 52.35% of the earnings are spent on dividend by AFG. This is a bit on the high side, but may be sustainable.
DP52.35%
EPS Next 2Y33.52%
EPS Next 3Y24.92%
AFG.OL Yearly Income VS Free CF VS DividendAFG.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B
AFG.OL Dividend Payout.AFG.OL Dividend Payout, showing the Payout Ratio.AFG.OL Dividend Payout.PayoutRetained Earnings

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AF GRUPPEN ASA

OSL:AFG (2/17/2026, 4:19:12 PM)

186.4

-2.6 (-1.38%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)02-13
Earnings (Next)05-13
Inst Owners15.15%
Inst Owner ChangeN/A
Ins Owners4.58%
Ins Owner ChangeN/A
Market Cap20.52B
Revenue(TTM)31.34B
Net Income(TTM)1.04B
Analysts46.67
Price Target187.34 (0.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.62%
Yearly Dividend3.49
Dividend Growth(5Y)-16.34%
DP52.35%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)19.94%
Min EPS beat(2)10.8%
Max EPS beat(2)29.08%
EPS beat(4)3
Avg EPS beat(4)7.22%
Min EPS beat(4)-27.73%
Max EPS beat(4)29.08%
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)4.2%
Min Revenue beat(2)3.14%
Max Revenue beat(2)5.26%
Revenue beat(4)3
Avg Revenue beat(4)1.59%
Min Revenue beat(4)-5.26%
Max Revenue beat(4)5.26%
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0.92%
PT rev (3m)13.61%
EPS NQ rev (1m)3.55%
EPS NQ rev (3m)-4.56%
EPS NY rev (1m)0.79%
EPS NY rev (3m)0.64%
Revenue NQ rev (1m)-0.01%
Revenue NQ rev (3m)1.36%
Revenue NY rev (1m)0%
Revenue NY rev (3m)1.38%
Valuation
Industry RankSector Rank
PE 19.52
Fwd PE 17.47
P/S 0.65
P/FCF 6.86
P/OCF 6.86
P/B 7.5
P/tB N/A
EV/EBITDA 9.36
EPS(TTM)9.55
EY5.12%
EPS(NY)10.67
Fwd EY5.72%
FCF(TTM)27.17
FCFY14.57%
OCF(TTM)27.17
OCFY14.57%
SpS284.71
BVpS24.85
TBVpS-17.63
PEG (NY)0.3
PEG (5Y)N/A
Graham Number73.07
Profitability
Industry RankSector Rank
ROA 6.16%
ROE 38.14%
ROCE 26.12%
ROIC 19.65%
ROICexc 27.64%
ROICexgc N/A
OM 4.69%
PM (TTM) 3.33%
GM 34.66%
FCFM 9.54%
ROA(3y)4.7%
ROA(5y)5.88%
ROE(3y)27.22%
ROE(5y)31.5%
ROIC(3y)15.77%
ROIC(5y)17.17%
ROICexc(3y)18.71%
ROICexc(5y)20.81%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)20.97%
ROCE(5y)23.25%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y-8.52%
ROICexc growth 5Y-2.24%
OM growth 3Y-13.09%
OM growth 5Y-7.84%
PM growth 3Y-14.18%
PM growth 5Y-9.36%
GM growth 3Y2.15%
GM growth 5Y0.2%
F-Score6
Asset Turnover1.85
Health
Industry RankSector Rank
Debt/Equity 0.45
Debt/FCF 0.53
Debt/EBITDA 0.55
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 18.61
Cash Conversion 134.93%
Profit Quality 286.67%
Current Ratio 0.7
Quick Ratio 0.67
Altman-Z 2.97
F-Score6
WACC8.43%
ROIC/WACC2.33
Cap/Depr(3y)61.46%
Cap/Depr(5y)51.82%
Cap/Sales(3y)1.17%
Cap/Sales(5y)1.01%
Profit Quality(3y)217.38%
Profit Quality(5y)174.12%
High Growth Momentum
Growth
EPS 1Y (TTM)103.53%
EPS 3Y-12.01%
EPS 5Y-5.07%
EPS Q2Q%27.03%
EPS Next Y64.84%
EPS Next 2Y33.52%
EPS Next 3Y24.92%
EPS Next 5Y15.98%
Revenue 1Y (TTM)3.01%
Revenue growth 3Y3.21%
Revenue growth 5Y6.26%
Sales Q2Q%8.31%
Revenue Next Year4.86%
Revenue Next 2Y5.36%
Revenue Next 3Y4.7%
Revenue Next 5Y3.6%
EBIT growth 1Y90.91%
EBIT growth 3Y-10.31%
EBIT growth 5Y-2.07%
EBIT Next Year133.4%
EBIT Next 3Y38.96%
EBIT Next 5Y27.83%
FCF growth 1Y353.72%
FCF growth 3Y17.55%
FCF growth 5Y10.63%
OCF growth 1Y353.72%
OCF growth 3Y16.15%
OCF growth 5Y8.01%

AF GRUPPEN ASA / AFG.OL FAQ

What is the ChartMill fundamental rating of AF GRUPPEN ASA (AFG.OL) stock?

ChartMill assigns a fundamental rating of 5 / 10 to AFG.OL.


What is the valuation status of AF GRUPPEN ASA (AFG.OL) stock?

ChartMill assigns a valuation rating of 5 / 10 to AF GRUPPEN ASA (AFG.OL). This can be considered as Fairly Valued.


What is the profitability of AFG stock?

AF GRUPPEN ASA (AFG.OL) has a profitability rating of 5 / 10.


What is the valuation of AF GRUPPEN ASA based on its PE and PB ratios?

The Price/Earnings (PE) ratio for AF GRUPPEN ASA (AFG.OL) is 19.52 and the Price/Book (PB) ratio is 7.5.


What is the expected EPS growth for AF GRUPPEN ASA (AFG.OL) stock?

The Earnings per Share (EPS) of AF GRUPPEN ASA (AFG.OL) is expected to grow by 64.84% in the next year.