AF GRUPPEN ASA (AFG.OL) Fundamental Analysis & Valuation

OSL:AFG • NO0003078107

Current stock price

168.7 NOK
+1.3 (+0.78%)
Last:

This AFG.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

7

1. AFG.OL Profitability Analysis

1.1 Basic Checks

  • AFG had positive earnings in the past year.
  • In the past year AFG had a positive cash flow from operations.
  • 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 2025 1B 2B 3B

1.2 Ratios

  • The Return On Assets of AFG (6.39%) is better than 71.74% of its industry peers.
  • With an excellent Return On Equity value of 37.64%, AFG belongs to the best of the industry, outperforming 82.61% of the companies in the same industry.
  • Looking at the Return On Invested Capital, with a value of 18.83%, AFG belongs to the top 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 12.65%.
  • The 3 year average ROIC (15.80%) for AFG is below the current ROIC(18.83%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 6.39%
ROE 37.64%
ROIC 18.83%
ROA(3y)4.62%
ROA(5y)5.65%
ROE(3y)27.38%
ROE(5y)31.55%
ROIC(3y)15.8%
ROIC(5y)18.05%
AFG.OL Yearly ROA, ROE, ROICAFG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30 40

1.3 Margins

  • The Profit Margin of AFG (3.41%) is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of AFG has remained more or less at the same level.
  • The Operating Margin of AFG (4.64%) is worse than 63.04% of its industry peers.
  • AFG's Operating Margin has been stable in the last couple of years.
  • AFG's Gross Margin of 34.96% is in line compared to the rest of the industry. AFG outperforms 47.83% of its industry peers.
  • In the last couple of years the Gross Margin of AFG has grown nicely.
Industry RankSector Rank
OM 4.64%
PM (TTM) 3.41%
GM 34.96%
OM growth 3Y5.47%
OM growth 5Y1.24%
PM growth 3Y3.63%
PM growth 5Y-1%
GM growth 3Y5.45%
GM growth 5Y2.7%
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 2025 10 20 30 40

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3

2. AFG.OL Health Analysis

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
  • The number of shares outstanding for AFG has been increased compared to 5 years ago.
  • The debt/assets ratio for AFG is higher 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 2025 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 2025 5B 10B 15B

2.2 Solvency

  • AFG has a debt to FCF ratio of 0.50. This is a very positive value and a sign of high solvency as it would only need 0.50 years to pay back of all of its debts.
  • AFG's Debt to FCF ratio of 0.50 is amongst the best of the industry. AFG outperforms 91.30% of its industry peers.
  • AFG has a Debt/Equity ratio of 0.39. This is a healthy value indicating a solid balance between debt and equity.
  • With a decent Debt to Equity ratio value of 0.39, AFG is doing good in the industry, outperforming 63.04% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 0.5
Altman-Z N/A
ROIC/WACC2.29
WACC8.24%
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 2025 1B 2B 3B

2.3 Liquidity

  • AFG has a Current Ratio of 0.73. This is a bad value and indicates that AFG is not financially healthy enough and could expect problems in meeting its short term obligations.
  • With a Current ratio value of 0.73, AFG is not doing good in the industry: 97.83% of the companies in the same industry are doing better.
  • AFG has a Quick Ratio of 0.73. 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 Quick ratio of 0.70 is on the low side compared to the rest of the industry. AFG is outperformed by 95.65% of its industry peers.
Industry RankSector Rank
Current Ratio 0.73
Quick Ratio 0.7
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 2025 2B 4B 6B 8B 10B

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

5

3. AFG.OL Growth Analysis

3.1 Past

  • The Earnings Per Share has grown by an impressive 52.78% over the past year.
  • Measured over the past 5 years, AFG shows a small growth in Earnings Per Share. The EPS has been growing by 1.41% on average per year.
  • The Revenue has been growing slightly by 4.42% in the past year.
  • AFG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 3.43% yearly.
EPS 1Y (TTM)52.78%
EPS 3Y3.52%
EPS 5Y1.41%
EPS Q2Q%11.34%
Revenue 1Y (TTM)4.42%
Revenue growth 3Y0.83%
Revenue growth 5Y3.43%
Sales Q2Q%7.64%

3.2 Future

  • Based on estimates for the next years, AFG will show a small growth in Earnings Per Share. The EPS will grow by 4.86% on average per year.
  • The Revenue is expected to grow by 4.78% on average over the next years.
EPS Next Y11.36%
EPS Next 2Y8.83%
EPS Next 3Y0.71%
EPS Next 5Y4.86%
Revenue Next Year6.43%
Revenue Next 2Y4.97%
Revenue Next 3Y4.1%
Revenue Next 5Y4.78%

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 accelerating: in the next years the growth will be better 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 2029 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 2029 2 4 6 8 10

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4

4. AFG.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 16.97, AFG is valued correctly.
  • Based on the Price/Earnings ratio, AFG is valued a bit more expensive than 65.22% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 24.89. AFG is valued slightly cheaper when compared to this.
  • A Price/Forward Earnings ratio of 15.24 indicates a correct valuation of AFG.
  • AFG's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. AFG is more expensive than 65.22% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 22.19, AFG is valued a bit cheaper.
Industry RankSector Rank
PE 16.97
Fwd PE 15.24
AFG.OL Price Earnings VS Forward Price EarningsAFG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as AFG.
  • Based on the Price/Free Cash Flow ratio, AFG is valued cheaply inside the industry as 84.78% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 6.11
EV/EBITDA 7.78
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

  • The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • AFG has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.49
PEG (5Y)12.08
EPS Next 2Y8.83%
EPS Next 3Y0.71%

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

3

5. AFG.OL Dividend Analysis

5.1 Amount

  • AFG has a Yearly Dividend Yield of 3.80%. Purely for dividend investing, there may be better candidates out there.
  • Compared to an average industry Dividend Yield of 2.48, AFG pays a bit more dividend than its industry peers.
  • Compared to an average S&P500 Dividend Yield of 1.89, AFG pays a better dividend.
Industry RankSector Rank
Dividend Yield 3.8%

5.2 History

  • The dividend of AFG decreases each year by -1.27%.
Dividend Growth(5Y)-1.27%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 90.29% of the earnings are spent on dividend by AFG. This is not a sustainable payout ratio.
DP90.29%
EPS Next 2Y8.83%
EPS Next 3Y0.71%
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 2025 1B 2B 3B
AFG.OL Dividend Payout.AFG.OL Dividend Payout, showing the Payout Ratio.AFG.OL Dividend Payout.PayoutRetained Earnings

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AFG.OL Fundamentals: All Metrics, Ratios and Statistics

AF GRUPPEN ASA

OSL:AFG (3/30/2026, 3:29:30 PM)

168.7

+1.3 (+0.78%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)02-13
Earnings (Next)05-13
Inst Owners15.18%
Inst Owner ChangeN/A
Ins Owners4.58%
Ins Owner ChangeN/A
Market Cap18.57B
Revenue(TTM)31.99B
Net Income(TTM)1.09B
Analysts46.67
Price Target192.44 (14.07%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.8%
Yearly Dividend8.99
Dividend Growth(5Y)-1.27%
DP90.29%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)12%
Min EPS beat(2)10.8%
Max EPS beat(2)13.2%
EPS beat(4)3
Avg EPS beat(4)6.33%
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)4.61%
Min Revenue beat(2)3.96%
Max Revenue beat(2)5.26%
Revenue beat(4)3
Avg Revenue beat(4)1.77%
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)1.8%
PT rev (3m)3.66%
EPS NQ rev (1m)-0.29%
EPS NQ rev (3m)-1.16%
EPS NY rev (1m)3.76%
EPS NY rev (3m)4.48%
Revenue NQ rev (1m)-0.93%
Revenue NQ rev (3m)-1.84%
Revenue NY rev (1m)0.03%
Revenue NY rev (3m)0.43%
Valuation
Industry RankSector Rank
PE 16.97
Fwd PE 15.24
P/S 0.58
P/FCF 6.11
P/OCF 6.11
P/B 6.4
P/tB N/A
EV/EBITDA 7.78
EPS(TTM)9.94
EY5.89%
EPS(NY)11.07
Fwd EY6.56%
FCF(TTM)27.6
FCFY16.36%
OCF(TTM)27.6
OCFY16.36%
SpS290.68
BVpS26.36
TBVpS-16.58
PEG (NY)1.49
PEG (5Y)12.08
Graham Number76.78
Profitability
Industry RankSector Rank
ROA 6.39%
ROE 37.64%
ROCE 24.33%
ROIC 18.83%
ROICexc 30.99%
ROICexgc N/A
OM 4.64%
PM (TTM) 3.41%
GM 34.96%
FCFM 9.5%
ROA(3y)4.62%
ROA(5y)5.65%
ROE(3y)27.38%
ROE(5y)31.55%
ROIC(3y)15.8%
ROIC(5y)18.05%
ROICexc(3y)21.58%
ROICexc(5y)23.02%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)20.42%
ROCE(5y)23.32%
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3Y8.92%
ROICexc growth 5Y6.23%
OM growth 3Y5.47%
OM growth 5Y1.24%
PM growth 3Y3.63%
PM growth 5Y-1%
GM growth 3Y5.45%
GM growth 5Y2.7%
F-Score6
Asset Turnover1.87
Health
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 0.5
Debt/EBITDA 0.51
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 20.89
Cash Conversion 134.72%
Profit Quality 278.21%
Current Ratio 0.73
Quick Ratio 0.7
Altman-Z N/A
F-Score6
WACC8.24%
ROIC/WACC2.29
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)269.35%
Profit Quality(5y)209.73%
High Growth Momentum
Growth
EPS 1Y (TTM)52.78%
EPS 3Y3.52%
EPS 5Y1.41%
EPS Q2Q%11.34%
EPS Next Y11.36%
EPS Next 2Y8.83%
EPS Next 3Y0.71%
EPS Next 5Y4.86%
Revenue 1Y (TTM)4.42%
Revenue growth 3Y0.83%
Revenue growth 5Y3.43%
Sales Q2Q%7.64%
Revenue Next Year6.43%
Revenue Next 2Y4.97%
Revenue Next 3Y4.1%
Revenue Next 5Y4.78%
EBIT growth 1Y42.87%
EBIT growth 3Y6.35%
EBIT growth 5Y4.71%
EBIT Next Year60.57%
EBIT Next 3Y20.18%
EBIT Next 5Y16.21%
FCF growth 1Y54.84%
FCF growth 3Y37.49%
FCF growth 5Y25.65%
OCF growth 1Y37.03%
OCF growth 3Y27.67%
OCF growth 5Y20.64%

AF GRUPPEN ASA / AFG.OL Fundamental Analysis 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 4 / 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 7 / 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 16.97 and the Price/Book (PB) ratio is 6.4.


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 11.36% in the next year.