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

OSL:AFG • NO0003078107

Current stock price

173.4 NOK
-2.2 (-1.25%)
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.
  • AFG had positive earnings in each of the past 5 years.
  • 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 2025 1B 2B 3B

1.2 Ratios

  • AFG has a Return On Assets of 6.39%. This is in the better half of the industry: AFG outperforms 75.56% of its industry peers.
  • AFG has a Return On Equity of 37.64%. This is amongst the best in the industry. AFG outperforms 84.44% of its industry peers.
  • With an excellent Return On Invested Capital value of 18.83%, AFG belongs to the best of the industry, outperforming 84.44% of the companies in the same industry.
  • AFG had an Average Return On Invested Capital over the past 3 years of 15.80%. This is above the industry average of 11.67%.
  • 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

  • AFG has a worse Profit Margin (3.41%) than 60.00% of its industry peers.
  • In the last couple of years the Profit Margin of AFG has remained more or less at the same level.
  • AFG has a Operating Margin of 4.64%. This is in the lower half of the industry: AFG underperforms 64.44% 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 46.67% of its industry peers.
  • AFG's Gross Margin has improved in the last couple of years.
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

  • 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
  • Compared to 5 years ago, AFG has more shares outstanding
  • 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 93.33% of its industry peers.
  • A Debt/Equity ratio of 0.39 indicates that AFG is not too dependend on debt financing.
  • AFG has a Debt to Equity ratio of 0.39. This is in the better half of the industry: AFG outperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.39
Debt/FCF 0.5
Altman-Z N/A
ROIC/WACC2.28
WACC8.25%
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.
  • AFG's Current ratio of 0.73 is on the low side compared to the rest of the industry. AFG is outperformed by 97.78% of its industry peers.
  • 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 95.56% 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

  • AFG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 52.78%, which is quite impressive.
  • The Earnings Per Share has been growing slightly by 1.41% on average over the past years.
  • Looking at the last year, AFG shows a small growth in Revenue. The Revenue has grown by 4.42% in the last year.
  • The Revenue has been growing slightly by 3.43% on average over the past years.
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

  • The Earnings Per Share is expected to grow by 4.86% on average over the next years.
  • AFG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.78% yearly.
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

  • Based on the Price/Earnings ratio of 17.44, the valuation of AFG can be described as rather expensive.
  • Based on the Price/Earnings ratio, AFG is valued a bit more expensive than 66.67% of the companies in the same industry.
  • AFG's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 25.23.
  • AFG is valuated correctly with a Price/Forward Earnings ratio of 15.66.
  • 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 66.67% of the companies listed in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 23.28, AFG is valued a bit cheaper.
Industry RankSector Rank
PE 17.44
Fwd PE 15.66
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 25

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 cheaper than 82.22% of the companies in the same industry.
Industry RankSector Rank
P/FCF 6.28
EV/EBITDA 8.18
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 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)1.54
PEG (5Y)12.41
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

  • With a Yearly Dividend Yield of 3.65%, AFG has a reasonable but not impressive dividend return.
  • AFG's Dividend Yield is a higher than the industry average which is at 2.52.
  • AFG's Dividend Yield is rather good when compared to the S&P500 average which is at 1.91.
Industry RankSector Rank
Dividend Yield 3.65%

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

  • AFG pays out 90.29% of its income as dividend. 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 (3/20/2026, 7:00:00 PM)

173.4

-2.2 (-1.25%)

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 Cap19.08B
Revenue(TTM)31.99B
Net Income(TTM)1.09B
Analysts46.67
Price Target189.04 (9.02%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.65%
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)0.91%
PT rev (3m)1.83%
EPS NQ rev (1m)-2.84%
EPS NQ rev (3m)-1.16%
EPS NY rev (1m)3.76%
EPS NY rev (3m)4.48%
Revenue NQ rev (1m)-2.99%
Revenue NQ rev (3m)3.75%
Revenue NY rev (1m)0.43%
Revenue NY rev (3m)0.43%
Valuation
Industry RankSector Rank
PE 17.44
Fwd PE 15.66
P/S 0.6
P/FCF 6.28
P/OCF 6.28
P/B 6.58
P/tB N/A
EV/EBITDA 8.18
EPS(TTM)9.94
EY5.73%
EPS(NY)11.07
Fwd EY6.38%
FCF(TTM)27.6
FCFY15.92%
OCF(TTM)27.6
OCFY15.92%
SpS290.68
BVpS26.36
TBVpS-16.58
PEG (NY)1.54
PEG (5Y)12.41
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
WACC8.25%
ROIC/WACC2.28
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 17.44 and the Price/Book (PB) ratio is 6.58.


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.