VEIDEKKE ASA (VEI.OL) Stock Fundamental Analysis

OSL:VEI • NO0005806802

189.3 NOK
+1.3 (+0.69%)
Last: Feb 16, 2026, 04:19 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

6

We assign a fundamental rating of 6 out of 10 to VEI. VEI was compared to 44 industry peers in the Construction & Engineering industry. While VEI belongs to the best of the industry regarding profitability, there are some minor concerns on its financial health. VEI is not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

7

1. Profitability

1.1 Basic Checks

  • VEI had positive earnings in the past year.
  • In the past year VEI had a positive cash flow from operations.
  • In the past 5 years VEI has always been profitable.
  • VEI had a positive operating cash flow in each of the past 5 years.
VEI.OL Yearly Net Income VS EBIT VS OCF VS FCFVEI.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 0 1B 2B 3B 4B 5B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 7.11%, VEI is in the better half of the industry, outperforming 70.45% of the companies in the same industry.
  • VEI's Return On Equity of 44.79% is amongst the best of the industry. VEI outperforms 84.09% of its industry peers.
  • VEI's Return On Invested Capital of 23.53% is amongst the best of the industry. VEI outperforms 86.36% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for VEI is significantly above the industry average of 12.70%.
  • The 3 year average ROIC (20.02%) for VEI is below the current ROIC(23.53%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 7.11%
ROE 44.79%
ROIC 23.53%
ROA(3y)6.25%
ROA(5y)7.26%
ROE(3y)36.63%
ROE(5y)43.49%
ROIC(3y)20.02%
ROIC(5y)18.85%
VEI.OL Yearly ROA, ROE, ROICVEI.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 20 40 60

1.3 Margins

  • With a Profit Margin value of 3.18%, VEI is not doing good in the industry: 63.64% of the companies in the same industry are doing better.
  • VEI's Profit Margin has improved in the last couple of years.
  • VEI has a worse Operating Margin (3.92%) than 75.00% of its industry peers.
  • In the last couple of years the Operating Margin of VEI has grown nicely.
  • With a Gross Margin value of 37.19%, VEI perfoms like the industry average, outperforming 47.73% of the companies in the same industry.
  • VEI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 3.92%
PM (TTM) 3.18%
GM 37.19%
OM growth 3Y-1.78%
OM growth 5Y14.32%
PM growth 3Y6.26%
PM growth 5Y4.12%
GM growth 3Y2.65%
GM growth 5Y1.43%
VEI.OL Yearly Profit, Operating, Gross MarginsVEI.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

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ROAROEROICOperating and Profit MarginShow most profitable peers

6

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), VEI is creating value.
  • The number of shares outstanding for VEI remains at a similar level compared to 1 year ago.
  • VEI has about the same amout of shares outstanding than it did 5 years ago.
  • The debt/assets ratio for VEI is higher compared to a year ago.
VEI.OL Yearly Shares OutstandingVEI.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
VEI.OL Yearly Total Debt VS Total AssetsVEI.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B

2.2 Solvency

  • An Altman-Z score of 3.35 indicates that VEI is not in any danger for bankruptcy at the moment.
  • The Altman-Z score of VEI (3.35) is better than 81.82% of its industry peers.
  • The Debt to FCF ratio of VEI is 0.10, which is an excellent value as it means it would take VEI, only 0.10 years of fcf income to pay off all of its debts.
  • VEI has a better Debt to FCF ratio (0.10) than 100.00% of its industry peers.
  • A Debt/Equity ratio of 0.08 indicates that VEI is not too dependend on debt financing.
  • The Debt to Equity ratio of VEI (0.08) is better than 86.36% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.08
Debt/FCF 0.1
Altman-Z 3.35
ROIC/WACC2.82
WACC8.35%
VEI.OL Yearly LT Debt VS Equity VS FCFVEI.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B

2.3 Liquidity

  • VEI has a Current Ratio of 0.80. This is a bad value and indicates that VEI is not financially healthy enough and could expect problems in meeting its short term obligations.
  • The Current ratio of VEI (0.80) is worse than 93.18% of its industry peers.
  • A Quick Ratio of 0.74 indicates that VEI may have some problems paying its short term obligations.
  • The Quick ratio of VEI (0.74) is worse than 88.64% of its industry peers.
Industry RankSector Rank
Current Ratio 0.8
Quick Ratio 0.74
VEI.OL Yearly Current Assets VS Current LiabilitesVEI.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

  • VEI shows a small growth in Earnings Per Share. In the last year, the EPS has grown by 0.89%.
  • The Earnings Per Share has been growing slightly by 6.43% on average over the past years.
  • VEI shows a small growth in Revenue. In the last year, the Revenue has grown by 1.09%.
  • Measured over the past years, VEI shows a small growth in Revenue. The Revenue has been growing by 2.43% on average per year.
EPS 1Y (TTM)0.89%
EPS 3Y9.54%
EPS 5Y6.43%
EPS Q2Q%17.65%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y3.13%
Revenue growth 5Y2.43%
Sales Q2Q%10.35%

3.2 Future

  • Based on estimates for the next years, VEI will show a small growth in Earnings Per Share. The EPS will grow by 7.45% on average per year.
  • VEI is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.69% yearly.
EPS Next Y11.34%
EPS Next 2Y9.8%
EPS Next 3Y8.02%
EPS Next 5Y7.45%
Revenue Next Year3.79%
Revenue Next 2Y5.15%
Revenue Next 3Y4.65%
Revenue Next 5Y5.69%

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is stable.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
VEI.OL Yearly Revenue VS EstimatesVEI.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 40B 50B
VEI.OL Yearly EPS VS EstimatesVEI.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 5 10 15

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4

4. Valuation

4.1 Price/Earnings Ratio

  • With a Price/Earnings ratio of 19.12, VEI is valued on the expensive side.
  • VEI's Price/Earnings ratio is in line with the industry average.
  • When comparing the Price/Earnings ratio of VEI to the average of the S&P500 Index (26.68), we can say VEI is valued slightly cheaper.
  • The Price/Forward Earnings ratio is 16.95, which indicates a correct valuation of VEI.
  • VEI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. VEI is more expensive than 63.64% of the companies in the same industry.
  • When comparing the Price/Forward Earnings ratio of VEI to the average of the S&P500 Index (28.06), we can say VEI is valued slightly cheaper.
Industry RankSector Rank
PE 19.12
Fwd PE 16.95
VEI.OL Price Earnings VS Forward Price EarningsVEI.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • The rest of the industry has a similar Enterprise Value to EBITDA ratio as VEI.
  • VEI's Price/Free Cash Flow ratio is a bit cheaper when compared to the industry. VEI is cheaper than 68.18% of the companies in the same industry.
Industry RankSector Rank
P/FCF 11
EV/EBITDA 7.91
VEI.OL Per share dataVEI.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 100 200 300

4.3 Compensation for Growth

  • VEI's PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
  • VEI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)1.69
PEG (5Y)2.97
EPS Next 2Y9.8%
EPS Next 3Y8.02%

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

6

5. Dividend

5.1 Amount

  • VEI has a Yearly Dividend Yield of 4.95%, which is a nice return.
  • Compared to an average industry Dividend Yield of 2.26, VEI pays a better dividend. On top of this VEI pays more dividend than 90.91% of the companies listed in the same industry.
  • Compared to an average S&P500 Dividend Yield of 1.84, VEI pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.95%

5.2 History

  • The dividend of VEI is nicely growing with an annual growth rate of 9.66%!
Dividend Growth(5Y)9.66%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • 90.00% of the earnings are spent on dividend by VEI. This is not a sustainable payout ratio.
  • VEI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP90%
EPS Next 2Y9.8%
EPS Next 3Y8.02%
VEI.OL Yearly Income VS Free CF VS DividendVEI.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 1B 2B 3B 4B
VEI.OL Dividend Payout.VEI.OL Dividend Payout, showing the Payout Ratio.VEI.OL Dividend Payout.PayoutRetained Earnings

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VEIDEKKE ASA

OSL:VEI (2/16/2026, 4:19:50 PM)

189.3

+1.3 (+0.69%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)02-12
Earnings (Next)05-07
Inst Owners37.71%
Inst Owner ChangeN/A
Ins Owners0.07%
Ins Owner ChangeN/A
Market Cap25.55B
Revenue(TTM)42.51B
Net Income(TTM)1.35B
Analysts50
Price Target181.82 (-3.95%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.95%
Yearly Dividend7.9
Dividend Growth(5Y)9.66%
DP90%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)6.13%
Min EPS beat(2)3.16%
Max EPS beat(2)9.1%
EPS beat(4)3
Avg EPS beat(4)-267.46%
Min EPS beat(4)-1087.88%
Max EPS beat(4)9.1%
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)1.92%
Min Revenue beat(2)0.6%
Max Revenue beat(2)3.24%
Revenue beat(4)2
Avg Revenue beat(4)-0.25%
Min Revenue beat(4)-4.59%
Max Revenue beat(4)3.24%
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)7.06%
PT rev (3m)7.54%
EPS NQ rev (1m)2.16%
EPS NQ rev (3m)-2.3%
EPS NY rev (1m)2.38%
EPS NY rev (3m)2.54%
Revenue NQ rev (1m)-0.96%
Revenue NQ rev (3m)-0.89%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-0.39%
Valuation
Industry RankSector Rank
PE 19.12
Fwd PE 16.95
P/S 0.6
P/FCF 11
P/OCF 8.58
P/B 8.48
P/tB 60.83
EV/EBITDA 7.91
EPS(TTM)9.9
EY5.23%
EPS(NY)11.17
Fwd EY5.9%
FCF(TTM)17.21
FCFY9.09%
OCF(TTM)22.07
OCFY11.66%
SpS314.96
BVpS22.33
TBVpS3.11
PEG (NY)1.69
PEG (5Y)2.97
Graham Number70.53
Profitability
Industry RankSector Rank
ROA 7.11%
ROE 44.79%
ROCE 29.41%
ROIC 23.53%
ROICexc 44.54%
ROICexgc 334.12%
OM 3.92%
PM (TTM) 3.18%
GM 37.19%
FCFM 5.46%
ROA(3y)6.25%
ROA(5y)7.26%
ROE(3y)36.63%
ROE(5y)43.49%
ROIC(3y)20.02%
ROIC(5y)18.85%
ROICexc(3y)44.25%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)25.02%
ROCE(5y)23.56%
ROICexgc growth 3YN/A
ROICexgc growth 5Y100.05%
ROICexc growth 3YN/A
ROICexc growth 5Y50.39%
OM growth 3Y-1.78%
OM growth 5Y14.32%
PM growth 3Y6.26%
PM growth 5Y4.12%
GM growth 3Y2.65%
GM growth 5Y1.43%
F-Score5
Asset Turnover2.24
Health
Industry RankSector Rank
Debt/Equity 0.08
Debt/FCF 0.1
Debt/EBITDA 0.08
Cap/Depr 56.88%
Cap/Sales 1.55%
Interest Coverage 250
Cash Conversion 105.6%
Profit Quality 172%
Current Ratio 0.8
Quick Ratio 0.74
Altman-Z 3.35
F-Score5
WACC8.35%
ROIC/WACC2.82
Cap/Depr(3y)86.37%
Cap/Depr(5y)89.78%
Cap/Sales(3y)2.15%
Cap/Sales(5y)2.21%
Profit Quality(3y)115.69%
Profit Quality(5y)141.1%
High Growth Momentum
Growth
EPS 1Y (TTM)0.89%
EPS 3Y9.54%
EPS 5Y6.43%
EPS Q2Q%17.65%
EPS Next Y11.34%
EPS Next 2Y9.8%
EPS Next 3Y8.02%
EPS Next 5Y7.45%
Revenue 1Y (TTM)1.09%
Revenue growth 3Y3.13%
Revenue growth 5Y2.43%
Sales Q2Q%10.35%
Revenue Next Year3.79%
Revenue Next 2Y5.15%
Revenue Next 3Y4.65%
Revenue Next 5Y5.69%
EBIT growth 1Y3.93%
EBIT growth 3Y1.29%
EBIT growth 5Y17.1%
EBIT Next Year82.79%
EBIT Next 3Y27.3%
EBIT Next 5Y21.16%
FCF growth 1Y118.85%
FCF growth 3Y3.8%
FCF growth 5Y17.06%
OCF growth 1Y49.4%
OCF growth 3Y0.47%
OCF growth 5Y9.79%

VEIDEKKE ASA / VEI.OL FAQ

Can you provide the ChartMill fundamental rating for VEIDEKKE ASA?

ChartMill assigns a fundamental rating of 6 / 10 to VEI.OL.


Can you provide the valuation status for VEIDEKKE ASA?

ChartMill assigns a valuation rating of 4 / 10 to VEIDEKKE ASA (VEI.OL). This can be considered as Fairly Valued.


How profitable is VEIDEKKE ASA (VEI.OL) stock?

VEIDEKKE ASA (VEI.OL) has a profitability rating of 7 / 10.


What is the financial health of VEIDEKKE ASA (VEI.OL) stock?

The financial health rating of VEIDEKKE ASA (VEI.OL) is 6 / 10.


Can you provide the expected EPS growth for VEI stock?

The Earnings per Share (EPS) of VEIDEKKE ASA (VEI.OL) is expected to grow by 11.34% in the next year.