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DOF GROUP ASA (DOFG.OL) Stock Fundamental Analysis

OSL:DOFG - Euronext Oslo - NO0012851874 - Common Stock - Currency: NOK

94.9  -0.15 (-0.16%)

Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to DOFG. DOFG was compared to 35 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

In the past year DOFG was profitable.
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.
In the past 5 years DOFG always reported a positive cash flow from operatings.
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

DOFG's Return On Assets of 6.54% is fine compared to the rest of the industry. DOFG outperforms 65.71% of its industry peers.
With a decent Return On Equity value of 13.22%, DOFG is doing good in the industry, outperforming 65.71% of the companies in the same industry.
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 above the industry average of 11.05%.
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 85.71% of its industry peers.
DOFG has a Operating Margin of 19.66%. This is in the better half of the industry: DOFG outperforms 77.14% of its industry peers.
DOFG's Operating Margin has improved in the last couple of years.
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.
DOFG has more shares outstanding than it did 1 year ago.
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

DOFG has a debt to FCF ratio of 6.77. This is a slightly negative value and a sign of low solvency as DOFG would need 6.77 years to pay back of all of its debts.
With a Debt to FCF ratio value of 6.77, DOFG is not doing good in the industry: 60.00% of the companies in the same industry are doing better.
A Debt/Equity ratio of 0.70 indicates that DOFG is somewhat dependend on debt financing.
DOFG has a Debt to Equity ratio (0.70) which is in line with its industry peers.
Industry RankSector Rank
Debt/Equity 0.7
Debt/FCF 6.77
Altman-Z N/A
ROIC/WACC0.83
WACC8.41%
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 60.00% of its industry peers.
A Quick Ratio of 1.56 indicates that DOFG should not have too much problems paying 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 65.71% 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

The earnings per share for DOFG have decreased strongly by -60.69% in the last year.
Looking at the last year, DOFG shows a very strong growth in Revenue. The Revenue has grown by 25.53%.
The Revenue has been growing by 23.33% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-60.69%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%934.02%
Revenue 1Y (TTM)25.53%
Revenue growth 3Y23.33%
Revenue growth 5YN/A
Sales Q2Q%29.7%

3.2 Future

Based on estimates for the next years, DOFG will show a very strong growth in Earnings Per Share. The EPS will grow by 26.67% on average per year.
The Revenue is expected to grow by 9.61% on average over the next years. This is quite good.
EPS Next Y52.34%
EPS Next 2Y40.2%
EPS Next 3Y26.67%
EPS Next 5YN/A
Revenue Next Year25.23%
Revenue Next 2Y14.84%
Revenue Next 3Y9.61%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is decreasing: in the next years the growth will be less than in the last 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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7

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings ratio is 7.98, which indicates a rather cheap valuation of DOFG.
Based on the Price/Earnings ratio, DOFG is valued a bit cheaper than the industry average as 80.00% of the companies are valued more expensively.
The average S&P500 Price/Earnings ratio is at 27.11. DOFG is valued rather cheaply when compared to this.
A Price/Forward Earnings ratio of 5.35 indicates a rather cheap valuation of DOFG.
Based on the Price/Forward Earnings ratio, DOFG is valued cheaper than 85.71% of the companies in the same industry.
When comparing the Price/Forward Earnings ratio of DOFG to the average of the S&P500 Index (35.78), we can say DOFG is valued rather cheaply.
Industry RankSector Rank
PE 7.98
Fwd PE 5.35
DOFG.OL Price Earnings VS Forward Price EarningsDOFG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, DOFG is valued a bit more expensive than 65.71% of the companies in the same industry.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of DOFG is on the same level as its industry peers.
Industry RankSector Rank
P/FCF 9.92
EV/EBITDA 9.71
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.
DOFG has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as DOFG's earnings are expected to grow with 26.67% in the coming years.
PEG (NY)0.15
PEG (5Y)N/A
EPS Next 2Y40.2%
EPS Next 3Y26.67%

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4

5. Dividend

5.1 Amount

DOFG has a Yearly Dividend Yield of 3.23%.
DOFG's Dividend Yield is comparable with the industry average which is at 6.54.
Compared to an average S&P500 Dividend Yield of 2.39, DOFG pays a bit more dividend than the S&P500 average.
Industry RankSector Rank
Dividend Yield 3.23%

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 2Y40.2%
EPS Next 3Y26.67%
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 (8/13/2025, 4:19:56 PM)

94.9

-0.15 (-0.16%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryEnergy Equipment & Services
Earnings (Last)05-16 2025-05-16/bmo
Earnings (Next)08-20 2025-08-20
Inst Owners36.49%
Inst Owner ChangeN/A
Ins Owners2.23%
Ins Owner ChangeN/A
Market Cap23.37B
Analysts86.67
Price Target129.83 (36.81%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 3.23%
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)0%
PT rev (3m)-3.69%
EPS NQ rev (1m)0%
EPS NQ rev (3m)45.64%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0.95%
Revenue NY rev (1m)-0.32%
Revenue NY rev (3m)-0.32%
Valuation
Industry RankSector Rank
PE 7.98
Fwd PE 5.35
P/S 1.55
P/FCF 9.92
P/OCF 6.2
P/B 1.23
P/tB 1.23
EV/EBITDA 9.71
EPS(TTM)11.89
EY12.53%
EPS(NY)17.73
Fwd EY18.68%
FCF(TTM)9.57
FCFY10.08%
OCF(TTM)15.31
OCFY16.14%
SpS61.38
BVpS77.44
TBVpS77.31
PEG (NY)0.15
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
WACC8.41%
ROIC/WACC0.83
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)-60.69%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%934.02%
EPS Next Y52.34%
EPS Next 2Y40.2%
EPS Next 3Y26.67%
EPS Next 5YN/A
Revenue 1Y (TTM)25.53%
Revenue growth 3Y23.33%
Revenue growth 5YN/A
Sales Q2Q%29.7%
Revenue Next Year25.23%
Revenue Next 2Y14.84%
Revenue Next 3Y9.61%
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