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AF Gruppen ASA (AFG.OL)

NOK195.00 +0.20 (+0.10%)
NO OSL Industrials Engineering & Construction
Address Innspurten 15 663
Oslo, NO
CEO Amund Tøftum
IPO 2000-01-03
ISIN NO0003078107

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Also trades on London Stock Exchange · 0DH7.L (NOK) Oslo Stock Exchange · AFG.OL (NOK) Other OTC · AGRUF (USD)
Description

AF Gruppen ASA is a diversified industrial and contracting group with core operations primarily in Norway and Sweden. The company specializes across several key sectors, including civil engineering, building construction, property development, energy solutions, environmental services, and offshore activities. Its Civil Engineering division executes a wide array of infrastructure projects, encompassing specialized undertakings in roads, railways, port facilities, airports, tunnels, foundation work, power generation, energy infrastructure, and onshore facilities for the oil and gas industry. The Construction arm focuses on designing, building, and renovating commercial, residential, and public structures. Betonmast functions as a primary contractor for significant residential, commercial, and public constructions, alongside its own property development ventures. Complementing this, the Property segment is dedicated to creating new residential units and commercial buildings. The Energy and Environment sector delivers intelligent and sustainable energy solutions for both buildings and industrial clients, complemented by comprehensive demolition and recycling capabilities. In Sweden, the company undertakes a similar range of activities, covering construction, civil engineering, property development, and environmental initiatives. Finally, AF Gruppen's Offshore division is responsible for the dismantling, demolition, and eco-friendly recycling of marine installations. Furthermore, it provides construction, alteration, and upkeep services for equipment such as cranes, modules, and drilling rigs, including heating, ventilation, air conditioning, and cooling systems. Founded in 1985, the company maintains its headquarters in Oslo, Norway.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
NOK195.00 +0.20 (+0.10%)
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Volume Profile
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Liquidity & share structure
Average Volume
40.1K
Beta
0.59
Float Shares
36.57M
Free Float %
32.2%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
-1.86% +2.75% +0.11% -3.03% -1.32% -3.76% +18.97% +27.96% -6.27% +38.53% +2,142.50%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
195.00
DCF (Unlevered) 619.24 +217.6%
DCF (Levered) 1,109.50 +469.0%

DCF figures are point estimates: small changes in growth or discount-rate assumptions move them materially. Read them as a reference, not a precise target.

Ratings Trend (MoM) 33% Bullish
Rating 2026-05 Change
Strong Buy 0 0
Buy 1 0
Hold 1 0
Sell 1 0
Strong Sell 0 0
Quality scores
Altman Z-Score
3.20
Safe zone
Piotroski F-Score
6 / 9
Average
MOAT Score
5 / 10
Developing
Composite Rating
A-
Overall Score
4 / 5
High
DCF Score
5 / 5
High
ROE Score
5 / 5
High
ROA Score
5 / 5
High
D/E Score
2 / 5
Medium
P/E Score
3 / 5
Medium
P/Book Score
1 / 5
Low
Operational MOAT
✗ Below peers
  • Revenue growth Engineering & Construction: +6.7%
    +5.9% Q1'26: +11.9% (vs Q1'25)
  • EPS growth Engineering & Construction: +20.8%
    +52.3% Q1'26: +44.9% (vs Q1'25)
  • FCF margin FCF growth · Engineering & Construction: +51.6%
    +7.5% Q1'26: +0.0% (vs Q1'25)
  • EBIT margin Engineering & Construction: +7.0%
    +4.6% Q1'26: +3.8% (vs Q1'25)
  • ROIC Engineering & Construction: +6.4%
    +37.7% Q1'26: +31.1% (vs Q1'25)
  • Share dilution Engineering & Construction: +0.0%
    +1.4% Q1'26: +0.8% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Engineering & Construction: -0.38×
    0.67× Q1'26: 0.79× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (0.58) × ERP
WACC = 93% × Ke + 7% × Kd (4.1%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Intrinsic value (base): 612.51 Current price: 195.00
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2010
actual
Dec 2011
actual
Dec 2012
actual
Dec 2013
actual
Dec 2014
actual
Dec 2015
actual
Dec 2016
actual
Dec 2017
actual
Dec 2018
actual
Dec 2019
actual
Dec 2020
actual
Dec 2021
actual
Dec 2022
actual
Dec 2023
actual
Dec 2024
actual
Dec 2025
actual
Dec 2026
2 Rev. Ana.
3 EPS Ana.
Dec 2027
3 Rev. Ana.
3 EPS Ana.
Dec 2028
2 Rev. Ana.
2 EPS Ana.
Dec 2029
1 Rev. Ana.
1 EPS Ana.
Revenue
5.75B
est: 5.94B (-3.1%)
7.27B
est: 7.04B (+3.2%)
9.68B
est: 9.98B (-3.1%)
10.04B
est: 10.73B (-6.4%)
9.88B
est: 9.93B (-0.5%)
12.34B
est: 12.32B (+0.2%)
11.77B
est: 12.52B (-5.9%)
13.64B
est: 13.38B (+1.9%)
18.68B
est: 17.84B (+4.7%)
22.49B
est: 23.41B (-3.9%)
26.94B
est: 26.73B (+0.8%)
27.75B
est: 27.78B (-0.1%)
30.97B
est: 31.23B (-0.8%)
30.53B
est: 30.04B (+1.6%)
30.22B
est: 30.18B (+0.1%)
31.99B
est: 31.82B (+0.6%)
34.61B
34.13B – 35.09B
+8.8% YoY
36.02B
35.12B – 36.92B
+4.1% YoY
37.04B
37.00B – 37.08B
+2.8% YoY
37.92B
37.17B – 38.65B
+2.4% YoY
EBITDA
474.00M
est: 524.09M (-9.6%)
490.00M
est: 564.61M (-13.2%)
406.00M
est: 684.81M (-40.7%)
598.00M
est: 414.64M (+44.2%)
633.00M
est: 629.09M (+0.6%)
1.09B
est: 871.39M (+24.7%)
1.20B
est: 1.08B (+11.4%)
1.03B
est: 1.19B (-13.8%)
1.20B
est: 1.34B (-10.7%)
1.66B
est: 1.59B (+4.4%)
1.86B
est: 1.91B (-3.1%)
2.08B
est: 2.06B (+0.9%)
1.84B
est: 2.15B (-14.6%)
1.38B
est: 1.85B (-25.5%)
1.74B
est: 1.86B (-6.2%)
2.26B
est: 1.96B (+15.3%)
2.13B
2.10B – 2.16B
+8.8% YoY
2.22B
2.16B – 2.27B
+4.1% YoY
2.28B
2.27B – 2.28B
+2.8% YoY
2.33B
2.29B – 2.38B
+2.4% YoY
EBIT
377.00M
est: 368.15M (+2.4%)
405.00M
est: 434.13M (-6.7%)
300.00M
est: 552.95M (-45.7%)
588.00M
est: 348.04M (+68.9%)
644.00M
est: 527.02M (+22.2%)
1.04B
est: 799.62M (+30.2%)
1.06B
est: 1.03B (+3.4%)
862.00M
est: 1.10B (-21.4%)
1.02B
est: 1.24B (-18.0%)
1.18B
est: 1.48B (-20.7%)
1.29B
est: 1.53B (-15.8%)
1.52B
est: 1.65B (-7.9%)
1.31B
est: 1.72B (-23.5%)
799.00M
est: 1.23B (-34.8%)
1.04B
est: 1.23B (-15.2%)
1.48B
est: 1.30B (+14.2%)
1.41B
1.39B – 1.43B
+8.8% YoY
1.47B
1.43B – 1.51B
+4.1% YoY
1.51B
1.51B – 1.51B
+2.8% YoY
1.55B
1.52B – 1.58B
+2.4% YoY
Net Income
277.00M
est: 295.62M (-6.3%)
303.00M
est: 328.56M (-7.8%)
194.00M
est: 416.84M (-53.5%)
429.00M
est: 208.40M (+105.9%)
442.00M
est: 397.12M (+11.3%)
697.00M
est: 556.58M (+25.2%)
691.00M
est: 709.85M (-2.7%)
621.00M
est: 733.02M (-15.3%)
772.00M
est: 835.60M (-7.6%)
854.00M
est: 1.02B (-16.5%)
971.00M
est: 976.83M (-0.6%)
1.02B
est: 1.05B (-3.2%)
958.00M
est: 705.00M (+35.9%)
402.00M
est: 353.00M (+13.9%)
708.00M
est: 671.70M (+5.4%)
1.09B
est: 1.08B (+1.5%)
1.27B
1.16B – 1.33B
+17.8% YoY
1.38B
1.29B – 1.39B
+8.6% YoY
1.37B
1.34B – 1.39B
-0.9% YoY
1.30B
1.27B – 1.33B
-4.9% YoY
SGA
est: 1.55B (-100.0%)
est: 1.79B (-100.0%)
148.00M
est: 2.12B (-93.0%)
180.00M
est: 2.09B (-91.4%)
130.00M
est: 2.07B (-93.7%)
123.00M
est: 2.94B (-95.8%)
127.00M
est: 2.58B (-95.1%)
157.00M
est: 3.39B (-95.4%)
160.00M
est: 4.79B (-96.7%)
239.00M
est: 5.59B (-95.7%)
242.00M
est: 5.50B (-95.6%)
232.00M
est: 5.93B (-96.1%)
269.00M
est: 6.18B (-95.6%)
333.00M
est: 241.46M (+37.9%)
370.00M
est: 242.63M (+52.5%)
est: 255.78M (-100.0%)
278.24M
274.38M – 282.10M
+8.8% YoY
289.60M
282.30M – 296.80M
+4.1% YoY
297.76M
297.44M – 298.08M
+2.8% YoY
304.81M
298.84M – 310.73M
+2.4% YoY
EPS
3.92
est: 3.69 (+6.2%)
3.85
est: 2.92 (+31.7%)
2.41
est: 3.33 (-27.7%)
5.26
est: 4.68 (+12.5%)
5.11
est: 4.75 (+7.5%)
7.64
est: 6.77 (+12.9%)
7.44
est: 7.25 (+2.6%)
6.43
est: 6.24 (+3.0%)
7.88
est: 7.10 (+10.9%)
8.51
est: 8.81 (-3.4%)
9.29
est: 8.17 (+13.7%)
9.61
est: 8.77 (+9.6%)
8.96
est: 8.74 (+2.5%)
3.73
est: 3.27 (+14.1%)
6.52
est: 6.10 (+6.8%)
9.93
est: 9.78 (+1.5%)
11.28
10.51 – 12.09
+15.3% YoY
12.17
11.73 – 12.65
+7.9% YoY
12.41
12.15 – 12.66
+1.9% YoY
11.80
11.50 – 12.10
-4.9% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-12 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-11 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-08 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-07 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-06 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-05 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-05-04 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-30 A- 4/5 5/5 5/5 5/5 2/5 3/5 1/5
2026-04-29 A- 4/5 5/5 5/5 5/5 1/5 3/5 1/5
2026-04-28 A- 4/5 5/5 5/5 5/5 1/5 3/5 1/5
2026-04-27 A- 4/5 5/5 5/5 5/5 1/5 3/5 1/5
2026-04-24 A- 4/5 5/5 5/5 5/5 1/5 3/5 1/5
2026-04-23 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5
2026-04-22 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5
2026-04-21 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5
2026-04-20 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5
2026-04-17 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5
2026-04-16 B+ 3/5 4/5 5/5 5/5 1/5 3/5 1/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
1.92B
OE per share TTM
17.53
Owner's Yield
10.13%
Maintenance CapEx ratio
248.18%
Maint CapEx / Avg PPE
8.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock Held by 13 ETFs in our universe

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
262.6K
Shares Outstanding
113.64M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Amund Tøftum Chief Executive Officer 10M male
Geir Flata Executive Vice President of Civil Engineering & Property 6M male
Anny Øen Executive Vice President of Finance & Chief Financial Officer 5M female
Bård Frydenlund Executive Vice President of Sweden and Betonmast 5M male
Eirik Wraal Executive Vice President Energy, Environment & Parts of Construction 5M male
Tormod Solberg Executive Vice President of Construction 5M male
Lars Myhre Hjelmeset Executive Vice President of Offshore 5M male
Kelly Ann Fusner Chief Underwriting Officer female
Knut Ekern Communication Director male
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend yield history

Dividend history

Earnings history

Earnings reports

Stock splits