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 41 industry peers in the Construction & Engineering industry. AFG has an average financial health and profitability rating. AFG has a correct valuation and a medium 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.
In the past 5 years AFG always reported a positive cash flow from operatings.
1.2 Ratios
AFG's Return On Assets of 4.70% is fine compared to the rest of the industry. AFG outperforms 65.85% of its industry peers.
AFG has a Return On Equity of 25.48%. This is in the better half of the industry: AFG outperforms 78.05% of its industry peers.
The Return On Invested Capital of AFG (15.54%) is better than 85.37% of its industry peers.
The Average Return On Invested Capital over the past 3 years for AFG is significantly above the industry average of 10.42%.
| 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 has a Profit Margin (2.31%) which is in line with its industry peers.
In the last couple of years the Profit Margin of AFG has declined.
With a Operating Margin value of 3.48%, AFG is not doing good in the industry: 63.41% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of AFG has declined.
AFG has a Gross Margin of 34.28%. This is comparable to the rest of the industry: AFG outperforms 46.34% of its industry peers.
AFG's Gross Margin has been stable in the last couple of years.
| 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.
AFG has more shares outstanding than it did 1 year ago.
AFG has more shares outstanding than it did 5 years ago.
The debt/assets ratio for AFG has been reduced compared to a year ago.
2.2 Solvency
An Altman-Z score of 2.97 indicates that AFG is not a great score, but indicates only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.97, AFG is doing good in the industry, outperforming 78.05% of the companies in the same industry.
The Debt to FCF ratio of AFG is 0.48, which is an excellent value as it means it would take AFG, only 0.48 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of AFG (0.48) is better than 97.56% 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.
Looking at the Debt to Equity ratio, with a value of 0.30, AFG is in the better half of the industry, outperforming 63.41% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.3 | ||
| Debt/FCF | 0.48 | ||
| Altman-Z | 2.97 |
ROIC/WACC1.86
WACC8.37%
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.
AFG has a worse Current ratio (0.66) than 92.68% of its industry peers.
AFG has a Quick 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.
The Quick ratio of AFG (0.61) is worse than 87.80% of its industry peers.
| 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.
Looking at the last year, AFG shows a small growth in Revenue. The Revenue has grown by 0.84% in the last year.
Measured over the past years, AFG shows a small growth in Revenue. The Revenue has been growing by 6.26% on average per year.
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
Based on estimates for the next years, AFG will show a small growth in Revenue. The Revenue will grow by 3.65% on average per year.
EPS Next Y57.72%
EPS Next 2Y32.06%
EPS Next 3Y24.15%
EPS Next 5YN/A
Revenue Next Year3.09%
Revenue Next 2Y3.66%
Revenue Next 3Y3.65%
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 23.02 indicates a rather expensive valuation of AFG.
Compared to the rest of the industry, the Price/Earnings ratio of AFG indicates a slightly more expensive valuation: AFG is more expensive than 68.29% of the companies listed in the same industry.
AFG is valuated at similar levels of the S&P average when we compare the Price/Earnings ratio to 26.20, which is the current average of the S&P500 Index.
A Price/Forward Earnings ratio of 14.32 indicates a correct valuation of AFG.
AFG's Price/Forward Earnings ratio is in line with the industry average.
The average S&P500 Price/Forward Earnings ratio is at 22.13. AFG is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.02 | ||
| Fwd PE | 14.32 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of AFG is on the same level as its industry peers.
Based on the Price/Free Cash Flow ratio, AFG is valued cheaply inside the industry as 82.93% of the companies are valued more expensively.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 6.7 | ||
| EV/EBITDA | 9.1 |
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.
The decent profitability rating of AFG may justify a higher PE ratio.
AFG's earnings are expected to grow with 24.15% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.4
PEG (5Y)N/A
EPS Next 2Y32.06%
EPS Next 3Y24.15%
5. Dividend
5.1 Amount
AFG has a Yearly Dividend Yield of 3.31%.
AFG's Dividend Yield is a higher than the industry average which is at 4.05.
AFG's Dividend Yield is a higher than the S&P500 average which is at 2.40.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.31% |
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
AFG pays out 53.82% of its income as dividend. This is a bit on the high side, but may be sustainable.
DP53.82%
EPS Next 2Y32.06%
EPS Next 3Y24.15%
OSL:AFG (5/28/2025, 7:00:00 PM)
149.4
+1.4 (+0.95%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)
Earnings (Next)
Inst Owners14.03%
Inst Owner ChangeN/A
Ins Owners23.78%
Ins Owner ChangeN/A
Market Cap16.21B
Analysts70
Price Target157.59 (5.48%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.31% |
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)-3.89%
PT rev (3m)-7.62%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)-3.86%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.07%
Revenue NY rev (3m)-1.95%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 23.02 | ||
| Fwd PE | 14.32 | ||
| P/S | 0.53 | ||
| P/FCF | 6.7 | ||
| P/OCF | 6.7 | ||
| P/B | 5.85 | ||
| P/tB | N/A | ||
| EV/EBITDA | 9.1 |
EPS(TTM)6.49
EY4.34%
EPS(NY)10.44
Fwd EY6.99%
FCF(TTM)22.29
FCFY14.92%
OCF(TTM)22.29
OCFY14.92%
SpS281.76
BVpS25.53
TBVpS-17.2
PEG (NY)0.4
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 | 2.97 |
F-Score7
WACC8.37%
ROIC/WACC1.86
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 Year3.09%
Revenue Next 2Y3.66%
Revenue Next 3Y3.65%
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%