VEIDEKKE ASA (VEI.OL) Stock Fundamental Analysis
OSL:VEI - NO0005806802 - Common Stock
160.6 NOK
-1.3 (-0.8%)
We assign a fundamental rating of 6 out of 10 to VEI. VEI was compared to 41 industry peers in the Construction & Engineering industry. VEI has an excellent profitability rating, but there are some minor concerns on its financial health. VEI is not valued too expensively and it also shows a decent growth rate.
1. Profitability
1.1 Basic Checks
VEI had positive earnings in the past year.
VEI had a positive operating cash flow in the past year.
Each year in the past 5 years VEI has been profitable.
VEI had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
The Return On Assets of VEI (6.78%) is better than 80.49% of its industry peers.
With an excellent Return On Equity value of 37.72%, VEI belongs to the best of the industry, outperforming 85.37% of the companies in the same industry.
The Return On Invested Capital of VEI (19.54%) is better than 87.80% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for VEI is significantly above the industry average of 10.29%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.78% | ||
| ROE | 37.72% | ||
| ROIC | 19.54% |
ROA(3y)6.25%
ROA(5y)7.26%
ROE(3y)36.63%
ROE(5y)43.49%
ROIC(3y)20.02%
ROIC(5y)18.85%
1.3 Margins
VEI has a Profit Margin (3.01%) which is comparable to the rest of the industry.
VEI's Profit Margin has improved in the last couple of years.
With a Operating Margin value of 3.62%, VEI is not doing good in the industry: 60.98% of the companies in the same industry are doing better.
In the last couple of years the Operating Margin of VEI has grown nicely.
With a Gross Margin value of 38.60%, VEI perfoms like the industry average, outperforming 56.10% of the companies in the same industry.
VEI's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 3.62% | ||
| PM (TTM) | 3.01% | ||
| GM | 38.6% |
OM growth 3Y-1.78%
OM growth 5Y14.32%
PM growth 3Y6.26%
PM growth 5Y4.12%
GM growth 3Y2.65%
GM growth 5Y1.43%
2. Health
2.1 Basic Checks
With a Return on Invested Capital (ROIC) well above the Cost of Capital (WACC), VEI is creating value.
Compared to 1 year ago, VEI has about the same amount of shares outstanding.
The number of shares outstanding for VEI remains at a similar level compared to 5 years ago.
Compared to 1 year ago, VEI has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.46 indicates that VEI is not in any danger for bankruptcy at the moment.
VEI has a better Altman-Z score (3.46) than 82.93% of its industry peers.
VEI has a debt to FCF ratio of 0.18. This is a very positive value and a sign of high solvency as it would only need 0.18 years to pay back of all of its debts.
VEI has a better Debt to FCF ratio (0.18) than 97.56% of its industry peers.
VEI has a Debt/Equity ratio of 0.11. This is a healthy value indicating a solid balance between debt and equity.
With an excellent Debt to Equity ratio value of 0.11, VEI belongs to the best of the industry, outperforming 85.37% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.18 | ||
| Altman-Z | 3.46 |
ROIC/WACC2.36
WACC8.27%
2.3 Liquidity
VEI has a Current Ratio of 0.80. This is a bad value and indicates that VEI is not financially healthy enough and could expect problems in meeting its short term obligations.
The Current ratio of VEI (0.80) is worse than 87.80% of its industry peers.
A Quick Ratio of 0.73 indicates that VEI may have some problems paying its short term obligations.
The Quick ratio of VEI (0.73) is worse than 80.49% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
VEI shows a slight negative growth in Earnings Per Share. In the last year, the EPS has decreased by -4.75%.
VEI shows quite a strong growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 14.58% yearly.
The Revenue has grown by 11.37% in the past year. This is quite good.
Measured over the past years, VEI shows a small growth in Revenue. The Revenue has been growing by 4.85% on average per year.
EPS 1Y (TTM)-4.75%
EPS 3Y-20.29%
EPS 5Y14.58%
EPS Q2Q%7.41%
Revenue 1Y (TTM)11.37%
Revenue growth 3Y4.12%
Revenue growth 5Y4.85%
Sales Q2Q%5.07%
3.2 Future
The Earnings Per Share is expected to grow by 8.87% on average over the next years. This is quite good.
Based on estimates for the next years, VEI will show a small growth in Revenue. The Revenue will grow by 2.02% on average per year.
EPS Next Y17.24%
EPS Next 2Y12.55%
EPS Next 3Y11%
EPS Next 5Y8.87%
Revenue Next Year-2.21%
Revenue Next 2Y0.54%
Revenue Next 3Y2.02%
Revenue Next 5Y2.02%
3.3 Evolution
The EPS growth rate is decreasing: in the next years the growth will be less 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 17.27 indicates a rather expensive valuation of VEI.
VEI's Price/Earnings ratio is in line with the industry average.
VEI is valuated rather cheaply when we compare the Price/Earnings ratio to 27.03, which is the current average of the S&P500 Index.
Based on the Price/Forward Earnings ratio of 16.05, the valuation of VEI can be described as correct.
Based on the Price/Forward Earnings ratio, VEI is valued a bit more expensive than the industry average as 60.98% of the companies are valued more cheaply.
The average S&P500 Price/Forward Earnings ratio is at 22.63. VEI is valued slightly cheaper when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.27 | ||
| Fwd PE | 16.05 |
4.2 Price Multiples
Based on the Enterprise Value to EBITDA ratio, VEI is valued a bit cheaper than 63.41% of the companies in the same industry.
63.41% of the companies in the same industry are more expensive than VEI, based on the Price/Free Cash Flow ratio.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.56 | ||
| EV/EBITDA | 7.13 |
4.3 Compensation for Growth
The PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a correct valuation of the company.
The decent profitability rating of VEI may justify a higher PE ratio.
PEG (NY)1
PEG (5Y)1.18
EPS Next 2Y12.55%
EPS Next 3Y11%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.53%, VEI is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.73, VEI pays a better dividend. On top of this VEI pays more dividend than 92.68% of the companies listed in the same industry.
VEI's Dividend Yield is rather good when compared to the S&P500 average which is at 2.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.53% |
5.2 History
The dividend of VEI is nicely growing with an annual growth rate of 9.66%!
Dividend Growth(5Y)9.66%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
86.53% of the earnings are spent on dividend by VEI. This is not a sustainable payout ratio.
VEI's earnings are growing slower than its dividend. This means the dividend growth is not sustainable.
DP86.53%
EPS Next 2Y12.55%
EPS Next 3Y11%
OSL:VEI (8/26/2025, 1:03:17 PM)
160.6
-1.3 (-0.8%)
Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryConstruction & Engineering
Earnings (Last)
Earnings (Next)
Inst Owners44.34%
Inst Owner ChangeN/A
Ins Owners0.55%
Ins Owner ChangeN/A
Market Cap21.67B
Analysts50
Price Target165.24 (2.89%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.53% |
Yearly Dividend7.9
Dividend Growth(5Y)9.66%
DP86.53%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-541.05%
Min EPS beat(2)-1087.88%
Max EPS beat(2)5.79%
EPS beat(4)2
Avg EPS beat(4)-265.78%
Min EPS beat(4)-1087.88%
Max EPS beat(4)19.52%
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)-2.42%
Min Revenue beat(2)-4.59%
Max Revenue beat(2)-0.25%
Revenue beat(4)0
Avg Revenue beat(4)-3.4%
Min Revenue beat(4)-4.81%
Max Revenue beat(4)-0.25%
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)1.73%
PT rev (3m)2.05%
EPS NQ rev (1m)0%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0.74%
EPS NY rev (3m)0.74%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0.27%
Revenue NY rev (3m)0.27%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.27 | ||
| Fwd PE | 16.05 | ||
| P/S | 0.53 | ||
| P/FCF | 9.56 | ||
| P/OCF | 7.53 | ||
| P/B | 6.64 | ||
| P/tB | 31.46 | ||
| EV/EBITDA | 7.13 |
EPS(TTM)9.3
EY5.79%
EPS(NY)10.01
Fwd EY6.23%
FCF(TTM)16.8
FCFY10.46%
OCF(TTM)21.32
OCFY13.27%
SpS303.5
BVpS24.2
TBVpS5.11
PEG (NY)1
PEG (5Y)1.18
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 6.78% | ||
| ROE | 37.72% | ||
| ROCE | 24.42% | ||
| ROIC | 19.54% | ||
| ROICexc | 36.23% | ||
| ROICexgc | 169.4% | ||
| OM | 3.62% | ||
| PM (TTM) | 3.01% | ||
| GM | 38.6% | ||
| FCFM | 5.53% |
ROA(3y)6.25%
ROA(5y)7.26%
ROE(3y)36.63%
ROE(5y)43.49%
ROIC(3y)20.02%
ROIC(5y)18.85%
ROICexc(3y)44.25%
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)25.02%
ROCE(5y)23.56%
ROICexcg growth 3YN/A
ROICexcg growth 5Y100.05%
ROICexc growth 3YN/A
ROICexc growth 5Y50.39%
OM growth 3Y-1.78%
OM growth 5Y14.32%
PM growth 3Y6.26%
PM growth 5Y4.12%
GM growth 3Y2.65%
GM growth 5Y1.43%
F-Score5
Asset Turnover2.25
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.18 | ||
| Debt/EBITDA | 0.14 | ||
| Cap/Depr | 54.96% | ||
| Cap/Sales | 1.49% | ||
| Interest Coverage | 250 | ||
| Cash Conversion | 110.91% | ||
| Profit Quality | 184.01% | ||
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.73 | ||
| Altman-Z | 3.46 |
F-Score5
WACC8.27%
ROIC/WACC2.36
Cap/Depr(3y)86.37%
Cap/Depr(5y)89.78%
Cap/Sales(3y)2.15%
Cap/Sales(5y)2.21%
Profit Quality(3y)115.69%
Profit Quality(5y)141.1%
High Growth Momentum
Growth
EPS 1Y (TTM)-4.75%
EPS 3Y-20.29%
EPS 5Y14.58%
EPS Q2Q%7.41%
EPS Next Y17.24%
EPS Next 2Y12.55%
EPS Next 3Y11%
EPS Next 5Y8.87%
Revenue 1Y (TTM)11.37%
Revenue growth 3Y4.12%
Revenue growth 5Y4.85%
Sales Q2Q%5.07%
Revenue Next Year-2.21%
Revenue Next 2Y0.54%
Revenue Next 3Y2.02%
Revenue Next 5Y2.02%
EBIT growth 1Y-3.64%
EBIT growth 3Y1.29%
EBIT growth 5Y17.1%
EBIT Next Year78.08%
EBIT Next 3Y24.93%
EBIT Next 5YN/A
FCF growth 1Y149.4%
FCF growth 3Y3.8%
FCF growth 5Y17.06%
OCF growth 1Y66.49%
OCF growth 3Y0.47%
OCF growth 5Y9.79%