Aker Solutions ASA

1AKA.F · Energy · Oil & Gas Equipment & Services · Valued as of 2026-11-03 · Statements 2025-12-31

How Each Value Is Built

The screener's three formulas on the reported figures. Each card reads the same way: the value as a sum of numbered terms, each term's calculation opened under it, from the reported figures to the value. The list ranks companies by their plain average over the market cap.

What it is worth

EPV + Growth

1.23B USD

what the normal year's earnings are worth for ever, plus growth that pays

Profit

1.69B USD

15 years of cash the shareholders can take out, and the equity left at year 15

FCFF

1.12B USD

15 years of cash for shareholders and lenders, less what is owed

Average Intrinsic Value

1.35B USD

The plain average of EPV, Profit and FCFF

Against the price

Market Cap

1.93B USD

the price on the date above times the shares

Intrinsic Value ÷ Market Cap

0.70×

the ratio the screener ranks by

Margin of Safety

-43.2%

1 − Market Cap / Average Intrinsic Value

Projections, not exact values. Intrinsic Values are projected from each company's past reports. They show which stocks look cheap compared with the others, not exactly what a stock is worth.

Earnings power value plus growth: 1.23B USD
What the normal year's operating profit after tax is worth if it lasts for ever, plus what the new investment adds beyond its cost, less the net debt that comes before the shareholders (or plus the net cash).
①EPV (earnings power value)678.81M USD
+②Net Cash Today252.26M USD
+③Growth Value297.34M USD
=Value1.23B USD

EPV of the Operations (NOPAT over WACC)

678.81M USD

Net cash today

+252.26M USD

Growth Value

+297.34M USD

Value

1.23B USD

①EPV (earnings power value)

678.81M USD

②Net Cash Today

252.26M USD

③Growth Value

297.34M USD

Market value

Market Cap1.93B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-57.1%

1 minus the market cap as a share of the value.

Profit value: today's value of the shareholders' equity, from the cash it can pay them (FCFE): 1.69B USD
Fifteen years of free cash flow to equity (FCFE), each brought to today at the cost of equity, plus the equity at year 15 brought to today.
①Present Value of the 15 Years of FCFE1.64B USD
+②Equity at Year 15, Today58.78M USD
=Value1.69B USD
FCFE: the net income left for the shareholders once the business keeps what next year's growth needsEquity reinvestment: the part of the year's net income kept in the business to grow the next year; below zero, capital the business releases to the shareholdersPresent value of the FCFEColoured bars show the FCFE, grey bars the equity reinvestment. With a positive equity reinvestment the two stacked are the year's normalized income; with a negative one the grey is below zero, capital the business releases, and the normalized income is the FCFE plus that negative amount. Shaded, years 6 to 10: the growth rising to its long-run rate and the ROE on new investment falling to the cost of equity. Axes linear.

①Present Value of the 15 Years of FCFE

1.64B USD

②Equity at Year 15, Today

58.78M USD

Market value

Market Cap1.93B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-13.9%

1 minus the market cap as a share of the value.

FCFF value: today's value of the shareholders' equity, from the cash the firm can pay its shareholders and lenders (FCFF): 1.12B USD
Fifteen years of free cash flow to the firm (FCFF), each brought to today at the WACC, plus the invested capital at year 15 brought to today, less the net debt today (or plus the net cash).

The projection was not made (a change in working capital above half the operating profit in the latest three years), so the value is the book value today, 1.12B USD, as the screener leaves it.

①Present Value of the 15 Years of FCFF

Not in the value

②Invested Capital at Year 15, Today

Not in the value

③Net Cash Today

Not in the value

Market value

Market Cap1.93B USD

The price on the date above times the shares.

Value vs market

Margin of Safety-72.3%

1 minus the market cap as a share of the value.

The Rates and the Capital the Values Read

The WACC and the cost of equity each value is discounted at, the book value and the net debt each starts from, and the seven quality metrics, from the same run.

WACC: 9.92%
Cost of Equity =Risk-Free Rate 4.50%+Beta (default) 1.00×Market Risk Premium 6.00%= 10.50%

The yearly return the shareholders require for the risk they carry; it is the rate that brings their future cash to today.

Tax Rate for WACC =Tax Provision 66.73M USDPretax Income 318.89M USD= 20.92%

The tax the interest saves.

Interest Expense =EBIT 343.98M USD−Pretax Income 318.89M USD= 25.10M USD

The interest the company paid: EBIT is the profit before tax plus the interest.

Cost of Debt =Interest Expense 25.10M USDTotal Debt 312.21M USD×(1 − Tax Rate for WACC 20.92%)= 6.36%

What the lenders are paid a year after the tax the interest saves.

Debt Weight =Total Debt 312.21M USDMarket Cap + Total Debt 1.93B USD + 312.21M USD= 13.93%

The part of the capital the lenders put in, at market value.

WACC =Equity Weight 86.07%×Cost of Equity 10.50%+Debt Weight 13.93%×Cost of Debt 6.36%= 9.92%

Weighted average cost of capital: the yearly return the shareholders and the lenders together require, weighted by what each puts in; the rate that brings the firm's future cash to today.

Book value and net debt today
Both from the balance sheet of the newest quarter, 2025-12-31.

Total Assets 3.82B USD − Total Liabilities 2.70B USD = Book Value Today 1.12B USD

Total Debt 312.21M USD − Cash and Short-Term Investments 564.48M USD = Net Debt Today -252.26M USD

The book value is what Profit starts from and what stands when a projection is not made; the book value plus the net debt is what FCFF starts from; the net debt comes off Greenwald's and FCFF's values before the shareholders.

Quality metrics
Read beside the value, never a condition for it: every company is valued, and a filter in the list is the reader's choice.
MetricFrom
Share dilutionShares Today ÷ Shares Two Years Back − 1-1.1%at most 5%passes484,168,546 / 489,698,154
Accrual quality(Operating Cash Flow − Net Income) ÷ Total Assets0.2%at least -10.0%passes(260.33M USD − 253.66M USD) ÷ 3.82B USD
Price to bookMarket Cap ÷ Book Value Today1.72×at most 3×passes1.93B USD ÷ 1.12B USD
Operating marginOperating Income ÷ Revenue4.1%above 10.0%does not pass256.54M USD ÷ 6.19B USD
Revenue growthRevenue ÷ Revenue a Year Before − 134.3%above 10.0%passes6.19B USD / 4.61B USD
Net cash(Cash − Total Debt) ÷ Market Cap3.0%above -30%passes(369.98M USD − 312.21M USD) ÷ 1.93B USD
Operating efficiencyOperating Income ÷ Gross Profit12.4%above 25.0%does not pass256.54M USD ÷ 2.07B USD

Market Data

The provider's ratios and the analysts' consensus beside the argument; none of them enters a value.

Share price

3.54 EUR

Enterprise value

99.33M EUR

the provider's own figure

EV / EBITDA

0.03×

Price / book

2.06×

the provider's book

Price / earnings

6.10×

Return on equity

35.6%

the provider's figure, not this page's

Profit margin

5.5%

Revenue growth

-13.7%

Analyst target, mean

—

Analysts

—

opinions in the consensus

Financial Statements

The annual lines the screener holds, year by year, in USD at each period's rate; the figures this valuation read are in its calculation above.

USD2022202320242025
Income statement

Revenue

2.77B3.53B4.61B6.19B

Gross profit

1.18B3.48B1.64B2.07B

Operating income

-12.06M28.61M212.97M256.54M

EBITDA

operating income before depreciation and amortisation

133.44M28.61M422.49M489.58M

Pretax income

-5.07M9.34M295.94M318.89M

Net income

119.46M1.14B234.71M253.66M

Normalized income

net income without one-off items, as the data provider prints it; Profit's line when printed

-16.79M46.35M270.51M273.11M

R&D

————
Balance sheet, year end

Total assets

3.35B4.06B3.20B3.82B

Total liabilities

2.42B2.19B2.22B2.70B

Shareholders' equity

the equity the parent's shareholders own, as printed, without minority interest; the book value the values read is total assets less total liabilities, in Book Value and Net Debt above

936.59M1.88B995.91M1.13B

Total debt

550.67M348.08M295.59M312.21M

Cash and equivalents

625.04M590.16M252.73M369.98M

Net PP&E

fixed assets after depreciation

581.17M493.50M517.84M535.79M

Working capital

current assets less current liabilities

166.26M567.35M-288.96M-139.53M
Cash flow

Operating cash flow

457.76M611.20M274.56M260.33M

Capital expenditure

paid out, so below zero

-62.82M-218.38M-127.87M-49.60M

Depreciation and amortisation

109.12M133.82M—145.60M

Free cash flow

operating cash flow plus capital expenditure

394.94M392.82M146.69M210.73M