AF GRUPPEN ASA (AFG.OL) Stock Fundamental Analysis

OSL:AFG • NO0003078107

186.8 NOK
-0.2 (-0.11%)
Last: Feb 19, 2026, 02:30 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to AFG. AFG was compared to 46 industry peers in the Construction & Engineering industry. AFG has only an average score on both its financial health and profitability. AFG has a correct valuation and a medium growth rate.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • In the past year AFG was profitable.
  • AFG had a positive operating cash flow in the past year.
  • Each year in the past 5 years AFG has been profitable.
  • AFG had a positive operating cash flow in each of the past 5 years.
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

  • AFG has a better Return On Assets (6.16%) than 69.57% of its industry peers.
  • Looking at the Return On Equity, with a value of 38.14%, AFG is in the better half of the industry, outperforming 78.26% of the companies in the same industry.
  • With an excellent Return On Invested Capital value of 19.65%, AFG belongs to the best of the industry, outperforming 80.43% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for AFG is above the industry average of 12.66%.
  • The 3 year average ROIC (15.77%) for AFG is below the current ROIC(19.65%), indicating increased profibility in the last year.
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 has a Profit Margin of 3.33%. This is in the lower half of the industry: AFG underperforms 60.87% of its industry peers.
  • In the last couple of years the Profit Margin of AFG has declined.
  • With a Operating Margin value of 4.69%, AFG is not doing good in the industry: 65.22% of the companies in the same industry are doing better.
  • AFG's Operating Margin has declined in the last couple of years.
  • AFG's Gross Margin of 34.66% is in line compared to the rest of the industry. AFG outperforms 43.48% of its industry peers.
  • In the last couple of years the Gross Margin of AFG has remained more or less at the same level.
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

  • The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so AFG is creating value.
  • Compared to 1 year ago, AFG has more shares outstanding
  • The number of shares outstanding for AFG has been increased compared to 5 years ago.
  • Compared to 1 year ago, AFG has an improved debt to assets ratio.
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 2.96 indicates that AFG is not a great score, but indicates only limited risk for bankruptcy at the moment.
  • AFG has a Altman-Z score of 2.96. This is in the better half of the industry: AFG outperforms 76.09% of its industry peers.
  • AFG has a debt to FCF ratio of 0.53. This is a very positive value and a sign of high solvency as it would only need 0.53 years to pay back of all of its debts.
  • AFG has a better Debt to FCF ratio (0.53) than 93.48% of its industry peers.
  • A Debt/Equity ratio of 0.45 indicates that AFG is not too dependend on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 0.45, AFG is in the better half of 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 2.96
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's Current ratio of 0.70 is on the low side compared to the rest of the industry. AFG is outperformed by 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.
  • AFG shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -5.07% yearly.
  • The Revenue has been growing slightly by 3.01% in the past year.
  • 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

  • The Earnings Per Share is expected to grow by 15.98% on average over the next years. This is quite good.
  • 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

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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Find the best growth stocksShow best growing peers

5

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 19.56, the valuation of AFG can be described as rather expensive.
  • The rest of the industry has a similar Price/Earnings ratio as AFG.
  • The average S&P500 Price/Earnings ratio is at 27.27. AFG is valued slightly cheaper when compared to this.
  • AFG is valuated rather expensively with a Price/Forward Earnings ratio of 17.51.
  • 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.
  • AFG's Price/Forward Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.16.
Industry RankSector Rank
PE 19.56
Fwd PE 17.51
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

  • Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AFG is on the same level as its industry peers.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of AFG indicates a rather cheap valuation: AFG is cheaper than 89.13% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.88
EV/EBITDA 9.26
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.
  • AFG has a very decent profitability rating, which 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 1.85, 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

  • AFG pays out 52.35% of its income as dividend. 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 (2/19/2026, 2:30:03 PM)

186.8

-0.2 (-0.11%)

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 Cap20.56B
Revenue(TTM)31.34B
Net Income(TTM)1.04B
Analysts46.67
Price Target187.34 (0.29%)
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 19.56
Fwd PE 17.51
P/S 0.66
P/FCF 6.88
P/OCF 6.88
P/B 7.52
P/tB N/A
EV/EBITDA 9.26
EPS(TTM)9.55
EY5.11%
EPS(NY)10.67
Fwd EY5.71%
FCF(TTM)27.17
FCFY14.54%
OCF(TTM)27.17
OCFY14.54%
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 2.96
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 6 / 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 19.56 and the Price/Book (PB) ratio is 7.52.


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.