AF GRUPPEN ASA (AFG.OL) Stock Fundamental Analysis
Europe • Euronext Oslo • OSL:AFG • NO0003078107
189.2 NOK
+1.6 (+0.85%)
Last: Feb 3, 2026, 04:17 PM
We assign a fundamental rating of 5 out of 10 to AFG. AFG was compared to 42 industry peers in the Construction & Engineering industry. AFG has only an average score on both its financial health and profitability. AFG is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
- AFG had positive earnings in the past year.
- AFG had a positive operating cash flow in the past year.
- In the past 5 years AFG has always been profitable.
- Each year in the past 5 years AFG had a positive operating cash flow.
1.2 Ratios
- AFG's Return On Assets of 6.16% is fine compared to the rest of the industry. AFG outperforms 73.81% of its industry peers.
- The Return On Equity of AFG (38.14%) is better than 76.19% 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 83.33% 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 11.33%.
- 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 Rank | Sector 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%
1.3 Margins
- The Profit Margin of AFG (3.33%) is comparable to the rest of the industry.
- AFG's Profit Margin has declined in the last couple of years.
- AFG has a Operating Margin of 4.69%. This is in the lower half of the industry: AFG underperforms 61.90% of its industry peers.
- In the last couple of years the Operating Margin of AFG has declined.
- AFG has a Gross Margin (34.66%) which is in line with its industry peers.
- In the last couple of years the Gross Margin of AFG has remained more or less at the same level.
| Industry Rank | Sector 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%
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.
- AFG has more shares outstanding than it did 1 year ago.
- AFG has more shares outstanding than it did 5 years ago.
- AFG has a better debt/assets ratio than last year.
2.2 Solvency
- AFG has an Altman-Z score of 2.96. This is not the best score and indicates that AFG is in the grey zone with still only limited risk for bankruptcy at the moment.
- AFG has a better Altman-Z score (2.96) than 78.57% 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.
- The Debt to FCF ratio of AFG (0.53) is better than 95.24% of its industry peers.
- AFG has a Debt/Equity ratio of 0.45. This is a healthy value indicating a solid balance between debt and equity.
- Looking at the Debt to Equity ratio, with a value of 0.45, AFG is in the better half of the industry, outperforming 64.29% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.45 | ||
| Debt/FCF | 0.53 | ||
| Altman-Z | 2.96 |
ROIC/WACC2.33
WACC8.43%
2.3 Liquidity
- A Current Ratio of 0.70 indicates that AFG may have some problems paying its short term obligations.
- AFG has a worse Current ratio (0.70) than 97.62% of its industry peers.
- AFG has a Quick 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 Quick ratio (0.67) than 95.24% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.7 | ||
| Quick Ratio | 0.67 |
3. Growth
3.1 Past
- The Earnings Per Share has grown by an impressive 103.53% over the past year.
- 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
- AFG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 24.92% yearly.
- AFG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.70% yearly.
EPS Next Y64.84%
EPS Next 2Y33.52%
EPS Next 3Y24.92%
EPS Next 5YN/A
Revenue Next Year4.86%
Revenue Next 2Y5.36%
Revenue Next 3Y4.7%
Revenue Next 5YN/A
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- 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.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 19.81, AFG is valued on the expensive side.
- Compared to the rest of the industry, the Price/Earnings ratio of AFG indicates a slightly more expensive valuation: AFG is more expensive than 61.90% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Earnings ratio of 28.41, AFG is valued a bit cheaper.
- With a Price/Forward Earnings ratio of 17.73, AFG is valued on the expensive side.
- 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 71.43% of the companies listed in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 25.64, AFG is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.81 | ||
| Fwd PE | 17.73 |
4.2 Price Multiples
- AFG's Enterprise Value to EBITDA ratio is in line with the industry average.
- Based on the Price/Free Cash Flow ratio, AFG is valued cheaper than 80.95% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.96 | ||
| EV/EBITDA | 9.29 |
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.
- AFG's earnings are expected to grow with 24.92% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.31
PEG (5Y)N/A
EPS Next 2Y33.52%
EPS Next 3Y24.92%
5. Dividend
5.1 Amount
- AFG has a Yearly Dividend Yield of 2.75%. Purely for dividend investing, there may be better candidates out there.
- AFG's Dividend Yield is comparable with the industry average which is at 2.49.
- Compared to an average S&P500 Dividend Yield of 1.83, AFG pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
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%
OSL:AFG (2/3/2026, 4:17:45 PM)
189.2
+1.6 (+0.85%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)11-14 2025-11-14/bmo
Earnings (Next)02-13 2026-02-13/amc
Inst Owners15.15%
Inst Owner ChangeN/A
Ins Owners4.58%
Ins Owner ChangeN/A
Market Cap20.82B
Revenue(TTM)31.34B
Net Income(TTM)1.04B
Analysts46.67
Price Target187.34 (-0.98%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 2.75% |
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 Rank | Sector Rank | ||
|---|---|---|---|
| PE | 19.81 | ||
| Fwd PE | 17.73 | ||
| P/S | 0.66 | ||
| P/FCF | 6.96 | ||
| P/OCF | 6.96 | ||
| P/B | 7.61 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.29 |
EPS(TTM)9.55
EY5.05%
EPS(NY)10.67
Fwd EY5.64%
FCF(TTM)27.17
FCFY14.36%
OCF(TTM)27.17
OCFY14.36%
SpS284.71
BVpS24.85
TBVpS-17.63
PEG (NY)0.31
PEG (5Y)N/A
Graham Number73.07
Profitability
| Industry Rank | Sector 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 Rank | Sector 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 5YN/A
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 5YN/A
EBIT growth 1Y90.91%
EBIT growth 3Y-10.31%
EBIT growth 5Y-2.07%
EBIT Next Year133.4%
EBIT Next 3Y38.96%
EBIT Next 5YN/A
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 19.81 and the Price/Book (PB) ratio is 7.61.
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.