VEIDEKKE ASA (VEI.OL) Stock Fundamental Analysis
OSL:VEI - Euronext Oslo - NO0005806802 - Common Stock - Currency: NOK
We assign a fundamental rating of 5 out of 10 to VEI. VEI was compared to 42 industry peers in the Construction & Engineering industry. VEI has an excellent profitability rating, but there are some minor concerns on its financial health. VEI does not seem to be growing, but still is valued expensively.
1. Profitability
1.1 Basic Checks
VEI had positive earnings in the past year.
In the past year VEI had a positive cash flow from operations.
Each year in the past 5 years VEI has been profitable.
In the past 5 years VEI always reported a positive cash flow from operatings.
1.2 Ratios
Looking at the Return On Assets, with a value of 6.78%, VEI is in the better half of the industry, outperforming 76.19% of the companies in the same industry.
The Return On Equity of VEI (37.72%) is better than 85.71% of its industry peers.
VEI has a better Return On Invested Capital (19.54%) than 90.48% of its industry peers.
VEI had an Average Return On Invested Capital over the past 3 years of 20.02%. This is significantly above the industry average of 10.76%.
| 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 of 3.01%. This is comparable to the rest of the industry: VEI outperforms 45.24% of its industry peers.
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: 66.67% of the companies in the same industry are doing better.
VEI's Operating Margin has improved in the last couple of years.
The Gross Margin of VEI (38.60%) is comparable to the rest of the 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
VEI has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
VEI has about the same amout of shares outstanding than it did 1 year ago.
VEI has about the same amout of shares outstanding than it did 5 years ago.
Compared to 1 year ago, VEI has a worse debt to assets ratio.
2.2 Solvency
An Altman-Z score of 3.49 indicates that VEI is not in any danger for bankruptcy at the moment.
The Altman-Z score of VEI (3.49) is better than 80.95% of its industry peers.
The Debt to FCF ratio of VEI is 0.18, which is an excellent value as it means it would take VEI, only 0.18 years of fcf income to pay off all of its debts.
VEI's Debt to FCF ratio of 0.18 is amongst the best of the industry. VEI outperforms 97.62% of its industry peers.
A Debt/Equity ratio of 0.11 indicates that VEI is not too dependend on debt financing.
With an excellent Debt to Equity ratio value of 0.11, VEI belongs to the best of the industry, outperforming 83.33% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 0.11 | ||
| Debt/FCF | 0.18 | ||
| Altman-Z | 3.49 |
ROIC/WACC2.33
WACC8.4%
2.3 Liquidity
A Current Ratio of 0.80 indicates that VEI may have some problems paying its short term obligations.
VEI has a Current ratio of 0.80. This is amonst the worse of the industry: VEI underperforms 88.10% of its industry peers.
VEI has a Quick 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.
VEI's Quick ratio of 0.73 is on the low side compared to the rest of the industry. VEI is outperformed by 80.95% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 0.8 | ||
| Quick Ratio | 0.73 |
3. Growth
3.1 Past
The Earnings Per Share has been growing slightly by 0.51% over the past year.
VEI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 6.43% yearly.
Looking at the last year, VEI shows a decrease in Revenue. The Revenue has decreased by -5.10% in the last year.
The Revenue has been growing slightly by 2.43% on average over the past years.
EPS 1Y (TTM)0.51%
EPS 3Y9.54%
EPS 5Y6.43%
EPS Q2Q%-300%
Revenue 1Y (TTM)-5.1%
Revenue growth 3Y3.13%
Revenue growth 5Y2.43%
Sales Q2Q%-4.66%
3.2 Future
VEI is expected to show a small growth in Earnings Per Share. In the coming years, the EPS will grow by 4.96% yearly.
The Revenue is expected to grow by 2.88% on average over the next years.
EPS Next Y7.25%
EPS Next 2Y6.93%
EPS Next 3Y4.96%
EPS Next 5YN/A
Revenue Next Year3.08%
Revenue Next 2Y3.6%
Revenue Next 3Y2.88%
Revenue Next 5YN/A
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 stable.
4. Valuation
4.1 Price/Earnings Ratio
Based on the Price/Earnings ratio of 17.93, the valuation of VEI can be described as rather expensive.
64.29% of the companies in the same industry are cheaper than VEI, based on the Price/Earnings ratio.
When comparing the Price/Earnings ratio of VEI to the average of the S&P500 Index (27.18), we can say VEI is valued slightly cheaper.
A Price/Forward Earnings ratio of 15.41 indicates a correct valuation of VEI.
VEI's Price/Forward Earnings ratio is a bit more expensive when compared to the industry. VEI is more expensive than 64.29% of the companies in the same industry.
VEI's Price/Forward Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 35.34.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.93 | ||
| Fwd PE | 15.41 |
4.2 Price Multiples
Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of VEI is on the same level as its industry peers.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of VEI is on the same level as its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 9.72 | ||
| EV/EBITDA | 7.45 |
4.3 Compensation for Growth
The high PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates VEI does not grow enough to justify the current Price/Earnings ratio.
VEI has a very decent profitability rating, which may justify a higher PE ratio.
PEG (NY)2.47
PEG (5Y)2.79
EPS Next 2Y6.93%
EPS Next 3Y4.96%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 5.38%, VEI is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 4.35, VEI pays a better dividend. On top of this VEI pays more dividend than 88.10% of the companies listed in the same industry.
Compared to an average S&P500 Dividend Yield of 2.34, VEI pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.38% |
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
VEI pays out 86.53% of its income as dividend. 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 2Y6.93%
EPS Next 3Y4.96%
OSL:VEI (7/16/2025, 2:06:26 PM)
163.2
-5 (-2.97%)
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 Cap22.03B
Analysts72.5
Price Target157.85 (-3.28%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 5.38% |
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)0%
PT rev (3m)-2.52%
EPS NQ rev (1m)-1.79%
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0.31%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.18%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 17.93 | ||
| Fwd PE | 15.41 | ||
| P/S | 0.54 | ||
| P/FCF | 9.72 | ||
| P/OCF | 7.66 | ||
| P/B | 6.74 | ||
| P/tB | 31.97 | ||
| EV/EBITDA | 7.45 |
EPS(TTM)9.1
EY5.58%
EPS(NY)10.59
Fwd EY6.49%
FCF(TTM)16.8
FCFY10.29%
OCF(TTM)21.32
OCFY13.06%
SpS303.5
BVpS24.2
TBVpS5.11
PEG (NY)2.47
PEG (5Y)2.79
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 | 3.49 |
F-Score5
WACC8.4%
ROIC/WACC2.33
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)0.51%
EPS 3Y9.54%
EPS 5Y6.43%
EPS Q2Q%-300%
EPS Next Y7.25%
EPS Next 2Y6.93%
EPS Next 3Y4.96%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.1%
Revenue growth 3Y3.13%
Revenue growth 5Y2.43%
Sales Q2Q%-4.66%
Revenue Next Year3.08%
Revenue Next 2Y3.6%
Revenue Next 3Y2.88%
Revenue Next 5YN/A
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%