VEIDEKKE ASA (VEI.OL) Stock Fundamental Analysis
OSL:VEI - Oslo Bors ASA - NO0005806802 - Common Stock - Currency: NOK
We assign a fundamental rating of 6 out of 10 to VEI. VEI was compared to 39 industry peers in the Construction & Engineering industry. VEI has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. VEI has a valuation in line with the averages, but on the other hand it scores bad on growth. VEI also has an excellent dividend rating. These ratings could make VEI a good candidate for dividend investing.
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.
Each year in the past 5 years VEI has been profitable.
VEI had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
VEI has a better Return On Assets (7.37%) than 81.58% of its industry peers.
Looking at the Return On Equity, with a value of 45.58%, VEI belongs to the top of the industry, outperforming 89.47% of the companies in the same industry.
VEI's Return On Invested Capital of 24.73% is amongst the best of the industry. VEI outperforms 97.37% of its industry peers.
VEI had an Average Return On Invested Capital over the past 3 years of 20.06%. This is significantly above the industry average of 11.05%.
The last Return On Invested Capital (24.73%) for VEI is above the 3 year average (20.06%), which is a sign of increasing profitability.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.37% | ||
| ROE | 45.58% | ||
| ROIC | 24.73% |
ROA(3y)5.86%
ROA(5y)6.75%
ROE(3y)35.13%
ROE(5y)40.66%
ROIC(3y)20.06%
ROIC(5y)16.18%
1.3 Margins
VEI has a Profit Margin (3.11%) which is in line with its industry peers.
In the last couple of years the Profit Margin of VEI has grown nicely.
The Operating Margin of VEI (3.81%) is worse than 63.16% of its industry peers.
In the last couple of years the Operating Margin of VEI has grown nicely.
VEI's Gross Margin of 35.74% is in line compared to the rest of the industry. VEI outperforms 47.37% of its industry peers.
VEI's Gross Margin has improved in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 3.81% | ||
| PM (TTM) | 3.11% | ||
| GM | 35.74% |
OM growth 3Y0.69%
OM growth 5Y57.34%
PM growth 3Y-23.47%
PM growth 5Y9.28%
GM growth 3Y-0.45%
GM growth 5Y1.51%
2. Health
2.1 Basic Checks
The Return on Invested Capital (ROIC) is well above the Cost of Capital (WACC), so VEI is creating value.
Compared to 1 year ago, VEI has about the same amount of shares outstanding.
The number of shares outstanding for VEI has been increased compared to 5 years ago.
Compared to 1 year ago, VEI has an improved debt to assets ratio.
2.2 Solvency
VEI has an Altman-Z score of 3.50. This indicates that VEI is financially healthy and has little risk of bankruptcy at the moment.
VEI has a better Altman-Z score (3.50) than 86.84% of its industry peers.
VEI has a debt to FCF ratio of 0.23. This is a very positive value and a sign of high solvency as it would only need 0.23 years to pay back of all of its debts.
VEI has a Debt to FCF ratio of 0.23. This is amongst the best in the industry. VEI outperforms 97.37% of its industry peers.
VEI has a Debt/Equity ratio of 0.12. This is a healthy value indicating a solid balance between debt and equity.
VEI has a Debt to Equity ratio of 0.12. This is amongst the best in the industry. VEI outperforms 86.84% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.23 | ||
| Altman-Z | 3.5 |
ROIC/WACC3.08
WACC8.02%
2.3 Liquidity
A Current Ratio of 0.83 indicates that VEI may have some problems paying its short term obligations.
The Current ratio of VEI (0.83) is worse than 92.11% of its industry peers.
A Quick Ratio of 0.74 indicates that VEI may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.74, VEI is doing worse than 84.21% of the companies in the same industry.
VEI does not score too well on the current and quick ratio evaluation. However, as it has excellent solvency and profitability, these ratios do not necessarly indicate liquidity issues and need to be evaluated against the specifics of the business.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.74 |
3. Growth
3.1 Past
The earnings per share for VEI have decreased by -4.75% in the last year.
The Earnings Per Share has been growing by 14.58% on average over the past years. This is quite good.
Looking at the last year, VEI shows a small growth in Revenue. The Revenue has grown by 0.47% in the last year.
VEI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 4.90% yearly.
EPS 1Y (TTM)-4.75%
EPS 3Y-20.29%
EPS 5Y14.58%
EPS Q2Q%3.03%
Revenue 1Y (TTM)0.47%
Revenue growth 3Y4.2%
Revenue growth 5Y4.9%
Sales Q2Q%-7.04%
3.2 Future
The Earnings Per Share is expected to grow by 8.64% on average over the next years. This is quite good.
Based on estimates for the next years, VEI will show a small growth in Revenue. The Revenue will grow by 1.28% on average per year.
EPS Next Y17.66%
EPS Next 2Y10.92%
EPS Next 3Y8.64%
EPS Next 5YN/A
Revenue Next Year-1.91%
Revenue Next 2Y0.49%
Revenue Next 3Y1.28%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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
The Price/Earnings ratio is 18.20, which indicates a rather expensive current valuation of VEI.
Based on the Price/Earnings ratio, VEI is valued a bit more expensive than the industry average as 60.53% of the companies are valued more cheaply.
VEI's Price/Earnings ratio indicates a valuation a bit cheaper than the S&P500 average which is at 28.47.
A Price/Forward Earnings ratio of 14.79 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 63.16% of the companies in the same industry.
VEI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 92.74.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.2 | ||
| Fwd PE | 14.79 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VEI is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VEI indicates a somewhat cheap valuation: VEI is cheaper than 63.16% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 8.25 | ||
| EV/EBITDA | 6.42 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The excellent profitability rating of VEI may justify a higher PE ratio.
PEG (NY)1.03
PEG (5Y)1.25
EPS Next 2Y10.92%
EPS Next 3Y8.64%
5. Dividend
5.1 Amount
VEI has a Yearly Dividend Yield of 5.38%, which is a nice return.
Compared to an average industry Dividend Yield of 3.72, VEI pays a better dividend. On top of this VEI pays more dividend than 94.74% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.28, VEI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.38% |
5.2 History
On average, the dividend of VEI grows each year by 9.18%, which is quite nice.
Dividend Growth(5Y)9.18%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
81.62% 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.
DP81.62%
EPS Next 2Y10.92%
EPS Next 3Y8.64%
VEIDEKKE ASA
OSL:VEI (2/5/2025, 10:48:54 AM)
143.8
-1.2 (-0.83%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)
Earnings (Next)
Inst Owners42.78%
Inst Owner ChangeN/A
Ins Owners0.55%
Ins Owner ChangeN/A
Market Cap19.41B
Analysts77.5
Price Target149.94 (4.27%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.38% |
Yearly Dividend7.75
Dividend Growth(5Y)9.18%
DP81.62%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)9.48%
Min EPS beat(2)-0.55%
Max EPS beat(2)19.52%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)0
Avg Revenue beat(2)-4.37%
Min Revenue beat(2)-4.81%
Max Revenue beat(2)-3.93%
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)2.62%
PT rev (3m)5%
EPS NQ rev (1m)-4.52%
EPS NQ rev (3m)-4.82%
EPS NY rev (1m)1.14%
EPS NY rev (3m)1.14%
Revenue NQ rev (1m)-0.61%
Revenue NQ rev (3m)-3.27%
Revenue NY rev (1m)-1.53%
Revenue NY rev (3m)-1.53%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 18.2 | ||
| Fwd PE | 14.79 | ||
| P/S | 0.46 | ||
| P/FCF | 8.25 | ||
| P/OCF | 6.71 | ||
| P/B | 6.77 | ||
| P/tB | 34.91 | ||
| EV/EBITDA | 6.42 |
EPS(TTM)7.9
EY5.49%
EPS(NY)9.72
Fwd EY6.76%
FCF(TTM)17.43
FCFY12.12%
OCF(TTM)21.44
OCFY14.91%
SpS311.56
BVpS21.23
TBVpS4.12
PEG (NY)1.03
PEG (5Y)1.25
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 7.37% | ||
| ROE | 45.58% | ||
| ROCE | 31.17% | ||
| ROIC | 24.73% | ||
| ROICexc | 47.24% | ||
| ROICexgc | 331.27% | ||
| OM | 3.81% | ||
| PM (TTM) | 3.11% | ||
| GM | 35.74% | ||
| FCFM | 5.59% |
ROA(3y)5.86%
ROA(5y)6.75%
ROE(3y)35.13%
ROE(5y)40.66%
ROIC(3y)20.06%
ROIC(5y)16.18%
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)25.28%
ROCE(5y)20.39%
ROICexcg growth 3YN/A
ROICexcg growth 5Y205.96%
ROICexc growth 3YN/A
ROICexc growth 5Y101.44%
OM growth 3Y0.69%
OM growth 5Y57.34%
PM growth 3Y-23.47%
PM growth 5Y9.28%
GM growth 3Y-0.45%
GM growth 5Y1.51%
F-Score6
Asset Turnover2.37
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.12 | ||
| Debt/FCF | 0.23 | ||
| Debt/EBITDA | 0.13 | ||
| Cap/Depr | 51.23% | ||
| Cap/Sales | 1.29% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 108.76% | ||
| Profit Quality | 180.09% | ||
| Current Ratio | 0.83 | ||
| Quick Ratio | 0.74 | ||
| Altman-Z | 3.5 |
F-Score6
WACC8.02%
ROIC/WACC3.08
Cap/Depr(3y)95.39%
Cap/Depr(5y)92.97%
Cap/Sales(3y)2.32%
Cap/Sales(5y)2.25%
Profit Quality(3y)122.85%
Profit Quality(5y)132.06%
High Growth Momentum
Growth
EPS 1Y (TTM)-4.75%
EPS 3Y-20.29%
EPS 5Y14.58%
EPS Q2Q%3.03%
EPS Next Y17.66%
EPS Next 2Y10.92%
EPS Next 3Y8.64%
EPS Next 5YN/A
Revenue 1Y (TTM)0.47%
Revenue growth 3Y4.2%
Revenue growth 5Y4.9%
Sales Q2Q%-7.04%
Revenue Next Year-1.91%
Revenue Next 2Y0.49%
Revenue Next 3Y1.28%
Revenue Next 5YN/A
EBIT growth 1Y16.75%
EBIT growth 3Y4.91%
EBIT growth 5Y65.04%
EBIT Next Year100%
EBIT Next 3Y29.96%
EBIT Next 5YN/A
FCF growth 1Y384.95%
FCF growth 3Y-22.75%
FCF growth 5Y51.91%
OCF growth 1Y113.11%
OCF growth 3Y-18.62%
OCF growth 5Y15.99%