AF GRUPPEN ASA (AFG.OL) Stock Fundamental Analysis
OSL:AFG - Euronext Oslo - NO0003078107 - Common Stock - Currency: NOK
Taking everything into account, AFG scores 5 out of 10 in our fundamental rating. AFG was compared to 44 industry peers in the Construction & Engineering industry. AFG has an average financial health and profitability rating. AFG is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
AFG had positive earnings in the past year.
AFG had a positive operating cash flow in the past year.
In the past 5 years AFG has always been profitable.
Each year in the past 5 years AFG had a positive operating cash flow.
1.2 Ratios
With a decent Return On Assets value of 4.70%, AFG is doing good in the industry, outperforming 63.64% of the companies in the same industry.
With a decent Return On Equity value of 25.48%, AFG is doing good in the industry, outperforming 77.27% of the companies in the same industry.
With an excellent Return On Invested Capital value of 15.54%, AFG belongs to the best of the industry, outperforming 81.82% of the companies in the same industry.
Measured over the past 3 years, the Average Return On Invested Capital for AFG is above the industry average of 10.92%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.7% | ||
| ROE | 25.48% | ||
| ROIC | 15.54% |
ROA(3y)4.7%
ROA(5y)5.88%
ROE(3y)27.22%
ROE(5y)31.5%
ROIC(3y)15.77%
ROIC(5y)17.17%
1.3 Margins
AFG's Profit Margin of 2.31% is in line compared to the rest of the industry. AFG outperforms 45.45% of its industry peers.
AFG's Profit Margin has declined in the last couple of years.
AFG has a worse Operating Margin (3.48%) than 63.64% of its industry peers.
In the last couple of years the Operating Margin of AFG has declined.
Looking at the Gross Margin, with a value of 34.28%, AFG is in line with its industry, outperforming 45.45% of the companies in the same industry.
In the last couple of years the Gross Margin of AFG has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 3.48% | ||
| PM (TTM) | 2.31% | ||
| GM | 34.28% |
OM growth 3Y-13.09%
OM growth 5Y-7.84%
PM growth 3Y-14.18%
PM growth 5Y-9.36%
GM growth 3Y2.15%
GM growth 5Y0.2%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), AFG is creating value.
Compared to 1 year ago, AFG has more shares outstanding
AFG has more shares outstanding than it did 5 years ago.
Compared to 1 year ago, AFG has an improved debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.02 indicates that AFG is not in any danger for bankruptcy at the moment.
With a decent Altman-Z score value of 3.02, AFG is doing good in the industry, outperforming 77.27% of the companies in the same industry.
AFG has a debt to FCF ratio of 0.48. This is a very positive value and a sign of high solvency as it would only need 0.48 years to pay back of all of its debts.
The Debt to FCF ratio of AFG (0.48) is better than 95.45% of its industry peers.
AFG has a Debt/Equity ratio of 0.30. This is a healthy value indicating a solid balance between debt and equity.
With a decent Debt to Equity ratio value of 0.30, AFG is doing good in the industry, outperforming 63.64% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.3 | ||
| Debt/FCF | 0.48 | ||
| Altman-Z | 3.02 |
ROIC/WACC1.84
WACC8.44%
2.3 Liquidity
AFG has a Current Ratio of 0.66. This is a bad value and indicates that AFG is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Current ratio value of 0.66, AFG is not doing good in the industry: 90.91% of the companies in the same industry are doing better.
A Quick Ratio of 0.61 indicates that AFG may have some problems paying its short term obligations.
With a Quick ratio value of 0.61, AFG is not doing good in the industry: 86.36% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.61 |
3. Growth
3.1 Past
AFG shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 27.96%, which is quite impressive.
Measured over the past years, AFG shows a decrease in Earnings Per Share. The EPS has been decreasing by -5.07% on average per year.
AFG shows a small growth in Revenue. In the last year, the Revenue has grown by 0.84%.
AFG shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 6.26% yearly.
EPS 1Y (TTM)27.96%
EPS 3Y-12.01%
EPS 5Y-5.07%
EPS Q2Q%-2.31%
Revenue 1Y (TTM)0.84%
Revenue growth 3Y3.21%
Revenue growth 5Y6.26%
Sales Q2Q%-0.81%
3.2 Future
The Earnings Per Share is expected to grow by 24.15% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 3.03% on average over the next years.
EPS Next Y57.72%
EPS Next 2Y32.06%
EPS Next 3Y24.15%
EPS Next 5YN/A
Revenue Next Year1.72%
Revenue Next 2Y2.93%
Revenue Next 3Y3.03%
Revenue Next 5YN/A
3.3 Evolution
The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 25.12 indicates a quite expensive valuation of AFG.
Based on the Price/Earnings ratio, AFG is valued a bit more expensive than the industry average as 63.64% of the companies are valued more cheaply.
When comparing the Price/Earnings ratio of AFG to the average of the S&P500 Index (26.41), we can say AFG is valued inline with the index average.
A Price/Forward Earnings ratio of 15.62 indicates a correct valuation of AFG.
The rest of the industry has a similar Price/Forward Earnings ratio as AFG.
The average S&P500 Price/Forward Earnings ratio is at 33.87. AFG is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.12 | ||
| Fwd PE | 15.62 |
4.2 Price Multiples
The rest of the industry has a similar Enterprise Value to EBITDA ratio as AFG.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of AFG indicates a rather cheap valuation: AFG is cheaper than 81.82% of the companies listed in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 7.31 | ||
| EV/EBITDA | 9.77 |
4.3 Compensation for Growth
The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
AFG's earnings are expected to grow with 24.15% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.44
PEG (5Y)N/A
EPS Next 2Y32.06%
EPS Next 3Y24.15%
5. Dividend
5.1 Amount
AFG has a Yearly Dividend Yield of 3.14%.
AFG's Dividend Yield is a higher than the industry average which is at 3.69.
Compared to an average S&P500 Dividend Yield of 2.39, AFG pays a bit more dividend than the S&P500 average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
5.2 History
The dividend of AFG decreases each year by -16.34%.
Dividend Growth(5Y)-16.34%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
53.82% of the earnings are spent on dividend by AFG. This is a bit on the high side, but may be sustainable.
DP53.82%
EPS Next 2Y32.06%
EPS Next 3Y24.15%
OSL:AFG (8/12/2025, 4:19:56 PM)
163
+2.8 (+1.75%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)
Earnings (Next)
Inst Owners14.86%
Inst Owner ChangeN/A
Ins Owners4.64%
Ins Owner ChangeN/A
Market Cap17.69B
Analysts46
Price Target149.18 (-8.48%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.14% |
Yearly Dividend3.49
Dividend Growth(5Y)-16.34%
DP53.82%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-5.5%
Min EPS beat(2)-27.73%
Max EPS beat(2)16.74%
EPS beat(4)1
Avg EPS beat(4)-29.74%
Min EPS beat(4)-103.85%
Max EPS beat(4)16.74%
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)1
Avg Revenue beat(2)-1.02%
Min Revenue beat(2)-5.26%
Max Revenue beat(2)3.22%
Revenue beat(4)1
Avg Revenue beat(4)-1.72%
Min Revenue beat(4)-5.26%
Max Revenue beat(4)3.22%
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)2.63%
PT rev (3m)-5.34%
EPS NQ rev (1m)-1.55%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)-1.11%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-1.33%
Revenue NY rev (3m)-1.33%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 25.12 | ||
| Fwd PE | 15.62 | ||
| P/S | 0.58 | ||
| P/FCF | 7.31 | ||
| P/OCF | 7.31 | ||
| P/B | 6.38 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.77 |
EPS(TTM)6.49
EY3.98%
EPS(NY)10.44
Fwd EY6.4%
FCF(TTM)22.29
FCFY13.67%
OCF(TTM)22.29
OCFY13.67%
SpS281.76
BVpS25.53
TBVpS-17.2
PEG (NY)0.44
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 4.7% | ||
| ROE | 25.48% | ||
| ROCE | 20.66% | ||
| ROIC | 15.54% | ||
| ROICexc | 19.45% | ||
| ROICexgc | N/A | ||
| OM | 3.48% | ||
| PM (TTM) | 2.31% | ||
| GM | 34.28% | ||
| FCFM | 7.91% |
ROA(3y)4.7%
ROA(5y)5.88%
ROE(3y)27.22%
ROE(5y)31.5%
ROIC(3y)15.77%
ROIC(5y)17.17%
ROICexc(3y)18.71%
ROICexc(5y)20.81%
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)20.97%
ROCE(5y)23.25%
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3Y-8.52%
ROICexc growth 5Y-2.24%
OM growth 3Y-13.09%
OM growth 5Y-7.84%
PM growth 3Y-14.18%
PM growth 5Y-9.36%
GM growth 3Y2.15%
GM growth 5Y0.2%
F-Score7
Asset Turnover2.04
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.3 | ||
| Debt/FCF | 0.48 | ||
| Debt/EBITDA | 0.46 | ||
| Cap/Depr | N/A | ||
| Cap/Sales | N/A | ||
| Interest Coverage | 10.14 | ||
| Cash Conversion | 134.91% | ||
| Profit Quality | 342.64% | ||
| Current Ratio | 0.66 | ||
| Quick Ratio | 0.61 | ||
| Altman-Z | 3.02 |
F-Score7
WACC8.44%
ROIC/WACC1.84
Cap/Depr(3y)61.46%
Cap/Depr(5y)51.82%
Cap/Sales(3y)1.17%
Cap/Sales(5y)1.01%
Profit Quality(3y)217.38%
Profit Quality(5y)174.12%
High Growth Momentum
Growth
EPS 1Y (TTM)27.96%
EPS 3Y-12.01%
EPS 5Y-5.07%
EPS Q2Q%-2.31%
EPS Next Y57.72%
EPS Next 2Y32.06%
EPS Next 3Y24.15%
EPS Next 5YN/A
Revenue 1Y (TTM)0.84%
Revenue growth 3Y3.21%
Revenue growth 5Y6.26%
Sales Q2Q%-0.81%
Revenue Next Year1.72%
Revenue Next 2Y2.93%
Revenue Next 3Y3.03%
Revenue Next 5YN/A
EBIT growth 1Y16.78%
EBIT growth 3Y-10.31%
EBIT growth 5Y-2.07%
EBIT Next Year120.87%
EBIT Next 3Y37.09%
EBIT Next 5YN/A
FCF growth 1Y191.8%
FCF growth 3Y17.55%
FCF growth 5Y10.63%
OCF growth 1Y191.8%
OCF growth 3Y16.15%
OCF growth 5Y8.01%