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DOF GROUP ASA (DOFG.OL) Stock Fundamental Analysis

OSL:DOFG - NO0012851874 - Common Stock

97.3 NOK
-0.5 (-0.51%)
Last: 9/12/2025, 9:23:16 AM
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to DOFG. DOFG was compared to 37 industry peers in the Energy Equipment & Services industry. There are concerns on the financial health of DOFG while its profitability can be described as average. A decent growth rate in combination with a cheap valuation! Better keep an eye on DOFG.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

DOFG had positive earnings in the past year.
DOFG had a positive operating cash flow in the past year.
The reported net income has been mixed in the past 5 years: DOFG reported negative net income in multiple years.
DOFG had a positive operating cash flow in each of the past 5 years.
DOFG.OL Yearly Net Income VS EBIT VS OCF VS FCFDOFG.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2020 2021 2022 2023 2024 0 200M -200M -400M

1.2 Ratios

With a decent Return On Assets value of 6.54%, DOFG is doing good in the industry, outperforming 62.16% of the companies in the same industry.
DOFG has a better Return On Equity (13.22%) than 62.16% of its industry peers.
The Return On Invested Capital of DOFG (7.00%) is comparable to the rest of the industry.
Measured over the past 3 years, the Average Return On Invested Capital for DOFG is in line with the industry average of 11.44%.
The 3 year average ROIC (13.09%) for DOFG is well above the current ROIC(7.00%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 6.54%
ROE 13.22%
ROIC 7%
ROA(3y)7.72%
ROA(5y)-0.31%
ROE(3y)119.89%
ROE(5y)N/A
ROIC(3y)13.09%
ROIC(5y)17.29%
DOFG.OL Yearly ROA, ROE, ROICDOFG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2020 2021 2022 2023 2024 0 500 1K 1.5K

1.3 Margins

DOFG's Profit Margin of 16.68% is amongst the best of the industry. DOFG outperforms 81.08% of its industry peers.
DOFG has a Operating Margin of 19.66%. This is in the better half of the industry: DOFG outperforms 72.97% of its industry peers.
In the last couple of years the Operating Margin of DOFG has grown nicely.
Industry RankSector Rank
OM 19.66%
PM (TTM) 16.68%
GM N/A
OM growth 3Y22.25%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
DOFG.OL Yearly Profit, Operating, Gross MarginsDOFG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2020 2021 2022 2023 2024 0 20 -20 -40 -60

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3

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so DOFG is still creating some value.
Compared to 1 year ago, DOFG has more shares outstanding
The debt/assets ratio for DOFG has been reduced compared to a year ago.
DOFG.OL Yearly Shares OutstandingDOFG.OL Yearly Shares OutstandingYearly Shares Outstanding 2020 2021 2022 2023 2024 50M 100M 150M 200M
DOFG.OL Yearly Total Debt VS Total AssetsDOFG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

The Debt to FCF ratio of DOFG is 6.77, which is on the high side as it means it would take DOFG, 6.77 years of fcf income to pay off all of its debts.
The Debt to FCF ratio of DOFG (6.77) is comparable to the rest of the industry.
A Debt/Equity ratio of 0.70 indicates that DOFG is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.70, DOFG perfoms like the industry average, outperforming 43.24% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.7
Debt/FCF 6.77
Altman-Z N/A
ROIC/WACC0.84
WACC8.31%
DOFG.OL Yearly LT Debt VS Equity VS FCFDOFG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2020 2021 2022 2023 2024 0 500M 1B 1.5B

2.3 Liquidity

DOFG has a Current Ratio of 1.56. This is a normal value and indicates that DOFG is financially healthy and should not expect problems in meeting its short term obligations.
DOFG's Current ratio of 1.56 is in line compared to the rest of the industry. DOFG outperforms 59.46% of its industry peers.
DOFG has a Quick Ratio of 1.56. This is a normal value and indicates that DOFG is financially healthy and should not expect problems in meeting its short term obligations.
Looking at the Quick ratio, with a value of 1.56, DOFG is in the better half of the industry, outperforming 64.86% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.56
Quick Ratio 1.56
DOFG.OL Yearly Current Assets VS Current LiabilitesDOFG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2020 2021 2022 2023 2024 500M 1B 1.5B 2B

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6

3. Growth

3.1 Past

DOFG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -45.27%.
Looking at the last year, DOFG shows a very strong growth in Revenue. The Revenue has grown by 22.67%.
Measured over the past years, DOFG shows a very strong growth in Revenue. The Revenue has been growing by 23.33% on average per year.
EPS 1Y (TTM)-45.27%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%1275%
Revenue 1Y (TTM)22.67%
Revenue growth 3Y23.33%
Revenue growth 5YN/A
Sales Q2Q%42.77%

3.2 Future

DOFG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 26.47% yearly.
DOFG is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 10.02% yearly.
EPS Next Y56.98%
EPS Next 2Y38.65%
EPS Next 3Y26.47%
EPS Next 5YN/A
Revenue Next Year25.3%
Revenue Next 2Y14.84%
Revenue Next 3Y10.02%
Revenue Next 5YN/A

3.3 Evolution

Although the future Revenue growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
DOFG.OL Yearly Revenue VS EstimatesDOFG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2020 2021 2022 2023 2024 2025 2026 2027 500M 1B 1.5B
DOFG.OL Yearly EPS VS EstimatesDOFG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2023 2024 2025 2026 2027 0.5 1 1.5

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8

4. Valuation

4.1 Price/Earnings Ratio

A Price/Earnings ratio of 5.86 indicates a rather cheap valuation of DOFG.
81.08% of the companies in the same industry are more expensive than DOFG, based on the Price/Earnings ratio.
DOFG's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.43.
The Price/Forward Earnings ratio is 5.79, which indicates a rather cheap valuation of DOFG.
DOFG's Price/Forward Earnings ratio is rather cheap when compared to the industry. DOFG is cheaper than 81.08% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 22.87. DOFG is valued rather cheaply when compared to this.
Industry RankSector Rank
PE 5.86
Fwd PE 5.79
DOFG.OL Price Earnings VS Forward Price EarningsDOFG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

DOFG's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. DOFG is more expensive than 67.57% of the companies in the same industry.
DOFG's Price/Free Cash Flow is on the same level as the industry average.
Industry RankSector Rank
P/FCF 10.48
EV/EBITDA 10.1
DOFG.OL Per share dataDOFG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60

4.3 Compensation for Growth

DOFG's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
The decent profitability rating of DOFG may justify a higher PE ratio.
A more expensive valuation may be justified as DOFG's earnings are expected to grow with 26.47% in the coming years.
PEG (NY)0.1
PEG (5Y)N/A
EPS Next 2Y38.65%
EPS Next 3Y26.47%

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6

5. Dividend

5.1 Amount

DOFG has a Yearly Dividend Yield of 6.28%, which is a nice return.
Compared to an average industry Dividend Yield of 6.65, DOFG pays a bit more dividend than its industry peers.
DOFG's Dividend Yield is rather good when compared to the S&P500 average which is at 2.45.
Industry RankSector Rank
Dividend Yield 6.28%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

0.41% of the earnings are spent on dividend by DOFG. This is a low number and sustainable payout ratio.
DP0.41%
EPS Next 2Y38.65%
EPS Next 3Y26.47%
DOFG.OL Yearly Income VS Free CF VS DividendDOFG.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2020 2021 2022 2023 2024 0 200M -200M -400M
DOFG.OL Dividend Payout.DOFG.OL Dividend Payout, showing the Payout Ratio.DOFG.OL Dividend Payout.PayoutRetained Earnings

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DOF GROUP ASA

OSL:DOFG (9/12/2025, 9:23:16 AM)

97.3

-0.5 (-0.51%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)08-20 2025-08-20/bmo
Earnings (Next)11-05 2025-11-05
Inst Owners36.49%
Inst Owner ChangeN/A
Ins Owners2.23%
Ins Owner ChangeN/A
Market Cap23.96B
Analysts87.14
Price Target128.01 (31.56%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 6.28%
Yearly Dividend0.05
Dividend Growth(5Y)N/A
DP0.41%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)58.44%
Min EPS beat(2)57.2%
Max EPS beat(2)59.69%
EPS beat(4)3
Avg EPS beat(4)11.22%
Min EPS beat(4)-91.22%
Max EPS beat(4)59.69%
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)-2.62%
Min Revenue beat(2)-3.27%
Max Revenue beat(2)-1.96%
Revenue beat(4)0
Avg Revenue beat(4)-5.67%
Min Revenue beat(4)-10.42%
Max Revenue beat(4)-1.96%
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)-1.4%
PT rev (3m)-1.4%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)3.04%
EPS NY rev (3m)3.04%
Revenue NQ rev (1m)-1.45%
Revenue NQ rev (3m)-1.45%
Revenue NY rev (1m)0.05%
Revenue NY rev (3m)-0.26%
Valuation
Industry RankSector Rank
PE 5.86
Fwd PE 5.79
P/S 1.63
P/FCF 10.48
P/OCF 6.55
P/B 1.3
P/tB 1.3
EV/EBITDA 10.1
EPS(TTM)16.6
EY17.06%
EPS(NY)16.81
Fwd EY17.28%
FCF(TTM)9.28
FCFY9.54%
OCF(TTM)14.85
OCFY15.26%
SpS59.52
BVpS75.09
TBVpS74.97
PEG (NY)0.1
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA 6.54%
ROE 13.22%
ROCE 9.09%
ROIC 7%
ROICexc 7.85%
ROICexgc 7.86%
OM 19.66%
PM (TTM) 16.68%
GM N/A
FCFM 15.59%
ROA(3y)7.72%
ROA(5y)-0.31%
ROE(3y)119.89%
ROE(5y)N/A
ROIC(3y)13.09%
ROIC(5y)17.29%
ROICexc(3y)26.86%
ROICexc(5y)37.53%
ROICexgc(3y)26.86%
ROICexgc(5y)37.53%
ROCE(3y)80.74%
ROCE(5y)94.31%
ROICexcg growth 3Y-44.68%
ROICexcg growth 5YN/A
ROICexc growth 3Y-44.7%
ROICexc growth 5YN/A
OM growth 3Y22.25%
OM growth 5YN/A
PM growth 3YN/A
PM growth 5YN/A
GM growth 3YN/A
GM growth 5YN/A
F-Score4
Asset Turnover0.39
Health
Industry RankSector Rank
Debt/Equity 0.7
Debt/FCF 6.77
Debt/EBITDA 3.6
Cap/Depr 197.14%
Cap/Sales 9.36%
Interest Coverage 2.61
Cash Conversion 102.22%
Profit Quality 93.5%
Current Ratio 1.56
Quick Ratio 1.56
Altman-Z N/A
F-Score4
WACC8.31%
ROIC/WACC0.84
Cap/Depr(3y)451.26%
Cap/Depr(5y)281.9%
Cap/Sales(3y)9.05%
Cap/Sales(5y)8.74%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-45.27%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%1275%
EPS Next Y56.98%
EPS Next 2Y38.65%
EPS Next 3Y26.47%
EPS Next 5YN/A
Revenue 1Y (TTM)22.67%
Revenue growth 3Y23.33%
Revenue growth 5YN/A
Sales Q2Q%42.77%
Revenue Next Year25.3%
Revenue Next 2Y14.84%
Revenue Next 3Y10.02%
Revenue Next 5YN/A
EBIT growth 1Y25%
EBIT growth 3Y50.78%
EBIT growth 5YN/A
EBIT Next Year103.24%
EBIT Next 3Y33.01%
EBIT Next 5YN/A
FCF growth 1Y95.49%
FCF growth 3Y64.48%
FCF growth 5YN/A
OCF growth 1Y78.54%
OCF growth 3Y38.12%
OCF growth 5YN/A