VAR ENERGI ASA (VAR.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:VAR - NO0011202772 - Common Stock
34.84 NOK
+0.28 (+0.81%)
VAR gets a fundamental rating of 5 out of 10. The analysis compared the fundamentals against 75 industry peers in the Oil, Gas & Consumable Fuels industry. VAR scores excellent on profitability, but there are concerns on its financial health. A decent growth rate in combination with a cheap valuation! Better keep an eye on VAR.
1. Profitability
1.1 Basic Checks
- In the past year VAR was profitable.
- VAR had a positive operating cash flow in the past year.
- Of the past 5 years VAR 4 years were profitable.
- VAR had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- With a Return On Assets value of 2.19%, VAR is not doing good in the industry: 64.00% of the companies in the same industry are doing better.
- Looking at the Return On Equity, with a value of 70.22%, VAR belongs to the top of the industry, outperforming 98.67% of the companies in the same industry.
- The Return On Invested Capital of VAR (10.78%) is better than 85.33% of its industry peers.
- The Average Return On Invested Capital over the past 3 years for VAR is significantly above the industry average of 8.82%.
- The last Return On Invested Capital (10.78%) for VAR is well below the 3 year average (22.49%), which needs to be investigated, but indicates that VAR had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.19% | ||
| ROE | 70.22% | ||
| ROIC | 10.78% |
ROA(3y)3.19%
ROA(5y)0.97%
ROE(3y)45.05%
ROE(5y)18.2%
ROIC(3y)22.49%
ROIC(5y)N/A
1.3 Margins
- VAR has a Profit Margin (7.75%) which is comparable to the rest of the industry.
- VAR's Profit Margin has improved in the last couple of years.
- VAR has a Operating Margin of 43.98%. This is amongst the best in the industry. VAR outperforms 96.00% of its industry peers.
- In the last couple of years the Operating Margin of VAR has grown nicely.
- VAR has a Gross Margin of 81.88%. This is amongst the best in the industry. VAR outperforms 89.33% of its industry peers.
- In the last couple of years the Gross Margin of VAR has grown nicely.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 43.98% | ||
| PM (TTM) | 7.75% | ||
| GM | 81.88% |
OM growth 3Y0.34%
OM growth 5Y18.33%
PM growth 3Y-26.93%
PM growth 5Y8.97%
GM growth 3Y-0.06%
GM growth 5Y3.92%
2. Health
2.1 Basic Checks
- VAR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
- Compared to 1 year ago, VAR has about the same amount of shares outstanding.
- The number of shares outstanding for VAR remains at a similar level compared to 5 years ago.
- Compared to 1 year ago, VAR has a worse debt to assets ratio.
2.2 Solvency
- VAR has a debt to FCF ratio of 7.35. This is a slightly negative value and a sign of low solvency as VAR would need 7.35 years to pay back of all of its debts.
- VAR has a Debt to FCF ratio (7.35) which is comparable to the rest of the industry.
- VAR has a Debt/Equity ratio of 7.19. This is a high value indicating a heavy dependency on external financing.
- The Debt to Equity ratio of VAR (7.19) is worse than 96.00% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.19 | ||
| Debt/FCF | 7.35 | ||
| Altman-Z | N/A |
ROIC/WACC1.27
WACC8.46%
2.3 Liquidity
- A Current Ratio of 0.72 indicates that VAR may have some problems paying its short term obligations.
- VAR has a Current ratio of 0.72. This is amonst the worse of the industry: VAR underperforms 88.00% of its industry peers.
- A Quick Ratio of 0.61 indicates that VAR may have some problems paying its short term obligations.
- VAR's Quick ratio of 0.61 is on the low side compared to the rest of the industry. VAR is outperformed by 86.67% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.72 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
- The earnings per share for VAR have decreased by -4.17% in the last year.
- VAR shows a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 31.78% yearly.
- Looking at the last year, VAR shows a small growth in Revenue. The Revenue has grown by 1.05% in the last year.
- The Revenue has been growing by 20.92% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-4.17%
EPS 3Y-21.91%
EPS 5Y31.78%
EPS Q2Q%-28.57%
Revenue 1Y (TTM)1.05%
Revenue growth 3Y6.86%
Revenue growth 5Y20.92%
Sales Q2Q%14.4%
3.2 Future
- Based on estimates for the next years, VAR will show a very strong growth in Earnings Per Share. The EPS will grow by 28.39% on average per year.
- Based on estimates for the next years, VAR will show a small growth in Revenue. The Revenue will grow by 2.56% on average per year.
EPS Next Y296.31%
EPS Next 2Y82.35%
EPS Next 3Y49.44%
EPS Next 5Y28.39%
Revenue Next Year11.89%
Revenue Next 2Y10.59%
Revenue Next 3Y6.12%
Revenue Next 5Y2.56%
3.3 Evolution
- The EPS growth rate is stable: in the next years the growth will be about the same 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.
4. Valuation
4.1 Price/Earnings Ratio
- With a Price/Earnings ratio of 15.02, VAR is valued correctly.
- Compared to the rest of the industry, the Price/Earnings ratio of VAR is on the same level as its industry peers.
- When comparing the Price/Earnings ratio of VAR to the average of the S&P500 Index (26.94), we can say VAR is valued slightly cheaper.
- Based on the Price/Forward Earnings ratio of 9.45, the valuation of VAR can be described as reasonable.
- VAR's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. VAR is cheaper than 77.33% of the companies in the same industry.
- Compared to an average S&P500 Price/Forward Earnings ratio of 23.94, VAR is valued rather cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.02 | ||
| Fwd PE | 9.45 |
4.2 Price Multiples
- VAR's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. VAR is cheaper than 88.00% of the companies in the same industry.
- Compared to the rest of the industry, the Price/Free Cash Flow ratio of VAR indicates a somewhat cheap valuation: VAR is cheaper than 76.00% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 10.14 | ||
| EV/EBITDA | 2.46 |
4.3 Compensation for Growth
- VAR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
- VAR has an outstanding profitability rating, which may justify a higher PE ratio.
- VAR's earnings are expected to grow with 49.44% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.05
PEG (5Y)0.47
EPS Next 2Y82.35%
EPS Next 3Y49.44%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 14.44%, VAR is a good candidate for dividend investing.
- Compared to an average industry Dividend Yield of 5.11, VAR pays a better dividend. On top of this VAR pays more dividend than 98.67% of the companies listed in the same industry.
- VAR's Dividend Yield is rather good when compared to the S&P500 average which is at 1.83.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.44% |
5.2 History
Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- VAR pays out 194.92% of its income as dividend. This is not a sustainable payout ratio.
DP194.92%
EPS Next 2Y82.35%
EPS Next 3Y49.44%
OSL:VAR (1/20/2026, 4:25:30 PM)
34.84
+0.28 (+0.81%)
Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)10-21 2025-10-21/bmo
Earnings (Next)01-27 2026-01-27/amc
Inst Owners16.32%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap86.97B
Revenue(TTM)7.54B
Net Income(TTM)584.86M
Analysts77.14
Price Target38.54 (10.62%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 14.44% |
Yearly Dividend4.36
Dividend Growth(5Y)N/A
DP194.92%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-32.65%
Min EPS beat(2)-33.44%
Max EPS beat(2)-31.86%
EPS beat(4)1
Avg EPS beat(4)-119.2%
Min EPS beat(4)-446.49%
Max EPS beat(4)35.01%
EPS beat(8)1
Avg EPS beat(8)-73.2%
EPS beat(12)1
Avg EPS beat(12)-57.81%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-4.06%
Min Revenue beat(2)-4.49%
Max Revenue beat(2)-3.63%
Revenue beat(4)0
Avg Revenue beat(4)-5.38%
Min Revenue beat(4)-6.74%
Max Revenue beat(4)-3.63%
Revenue beat(8)0
Avg Revenue beat(8)-4.55%
Revenue beat(12)0
Avg Revenue beat(12)-4.78%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-2.14%
PT rev (3m)-44.69%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-12.6%
EPS NY rev (1m)1.38%
EPS NY rev (3m)-9.12%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-3.08%
Revenue NY rev (1m)-0.21%
Revenue NY rev (3m)-1.13%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 15.02 | ||
| Fwd PE | 9.45 | ||
| P/S | 1.14 | ||
| P/FCF | 10.14 | ||
| P/OCF | 2.33 | ||
| P/B | 10.35 | ||
| P/tB | N/A | ||
| EV/EBITDA | 2.46 |
EPS(TTM)2.32
EY6.66%
EPS(NY)3.69
Fwd EY10.59%
FCF(TTM)3.44
FCFY9.86%
OCF(TTM)14.95
OCFY42.91%
SpS30.48
BVpS3.36
TBVpS-12.91
PEG (NY)0.05
PEG (5Y)0.47
Graham Number13.25
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.19% | ||
| ROE | 70.22% | ||
| ROCE | 14% | ||
| ROIC | 10.78% | ||
| ROICexc | 11.17% | ||
| ROICexgc | 13.56% | ||
| OM | 43.98% | ||
| PM (TTM) | 7.75% | ||
| GM | 81.88% | ||
| FCFM | 11.27% |
ROA(3y)3.19%
ROA(5y)0.97%
ROE(3y)45.05%
ROE(5y)18.2%
ROIC(3y)22.49%
ROIC(5y)N/A
ROICexc(3y)23.16%
ROICexc(5y)N/A
ROICexgc(3y)27.5%
ROICexgc(5y)N/A
ROCE(3y)29.21%
ROCE(5y)N/A
ROICexgc growth 3Y4.04%
ROICexgc growth 5Y38.36%
ROICexc growth 3Y3.1%
ROICexc growth 5Y41.51%
OM growth 3Y0.34%
OM growth 5Y18.33%
PM growth 3Y-26.93%
PM growth 5Y8.97%
GM growth 3Y-0.06%
GM growth 5Y3.92%
F-Score4
Asset Turnover0.28
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 7.19 | ||
| Debt/FCF | 7.35 | ||
| Debt/EBITDA | 1.05 | ||
| Cap/Depr | 120.29% | ||
| Cap/Sales | 37.78% | ||
| Interest Coverage | 9.3 | ||
| Cash Conversion | 65.07% | ||
| Profit Quality | 145.4% | ||
| Current Ratio | 0.72 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | N/A |
F-Score4
WACC8.46%
ROIC/WACC1.27
Cap/Depr(3y)175.33%
Cap/Depr(5y)158.77%
Cap/Sales(3y)35.36%
Cap/Sales(5y)43.19%
Profit Quality(3y)197.73%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-4.17%
EPS 3Y-21.91%
EPS 5Y31.78%
EPS Q2Q%-28.57%
EPS Next Y296.31%
EPS Next 2Y82.35%
EPS Next 3Y49.44%
EPS Next 5Y28.39%
Revenue 1Y (TTM)1.05%
Revenue growth 3Y6.86%
Revenue growth 5Y20.92%
Sales Q2Q%14.4%
Revenue Next Year11.89%
Revenue Next 2Y10.59%
Revenue Next 3Y6.12%
Revenue Next 5Y2.56%
EBIT growth 1Y-17.93%
EBIT growth 3Y7.22%
EBIT growth 5Y43.09%
EBIT Next Year69.58%
EBIT Next 3Y23.54%
EBIT Next 5Y12.15%
FCF growth 1Y338.54%
FCF growth 3Y-37.64%
FCF growth 5Y24.35%
OCF growth 1Y23.09%
OCF growth 3Y-9.38%
OCF growth 5Y17.84%
VAR ENERGI ASA / VAR.OL FAQ
What is the fundamental rating for VAR stock?
ChartMill assigns a fundamental rating of 5 / 10 to VAR.OL.
What is the valuation status for VAR stock?
ChartMill assigns a valuation rating of 8 / 10 to VAR ENERGI ASA (VAR.OL). This can be considered as Undervalued.
How profitable is VAR ENERGI ASA (VAR.OL) stock?
VAR ENERGI ASA (VAR.OL) has a profitability rating of 8 / 10.
What is the financial health of VAR ENERGI ASA (VAR.OL) stock?
The financial health rating of VAR ENERGI ASA (VAR.OL) is 1 / 10.
Can you provide the dividend sustainability for VAR stock?
The dividend rating of VAR ENERGI ASA (VAR.OL) is 5 / 10 and the dividend payout ratio is 194.92%.