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VOW ASA (VOW.OL) Stock Fundamental Analysis

Europe - Euronext Oslo - OSL:VOW - NO0010708068 - Common Stock

2.62 NOK
+0.15 (+6.07%)
Last: 1/9/2026, 7:00:00 PM
Fundamental Rating

3

Overall VOW gets a fundamental rating of 3 out of 10. We evaluated VOW against 42 industry peers in the Commercial Services & Supplies industry. Both the profitability and financial health of VOW have multiple concerns. VOW is valued quite expensively, but it does show have an excellent growth rating.


Dividend Valuation Growth Profitability Health

1

1. Profitability

1.1 Basic Checks

In the past year VOW has reported negative net income.
In the past year VOW had a positive cash flow from operations.
In multiple years VOW reported negative net income over the last 5 years.
The reported operating cash flow has been mixed in the past 5 years: VOW reported negative operating cash flow in multiple years.
VOW.OL Yearly Net Income VS EBIT VS OCF VS FCFVOW.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100M -100M 200M 300M

1.2 Ratios

VOW has a Return On Assets of -15.05%. This is in the lower half of the industry: VOW underperforms 78.57% of its industry peers.
VOW has a worse Return On Equity (-48.59%) than 76.19% of its industry peers.
Industry RankSector Rank
ROA -15.05%
ROE -48.59%
ROIC N/A
ROA(3y)-5.99%
ROA(5y)3.04%
ROE(3y)-21.1%
ROE(5y)1.46%
ROIC(3y)N/A
ROIC(5y)N/A
VOW.OL Yearly ROA, ROE, ROICVOW.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40 60

1.3 Margins

In the last couple of years the Operating Margin of VOW has declined.
The Gross Margin of VOW (25.05%) is worse than 76.19% of its industry peers.
VOW's Gross Margin has been stable in the last couple of years.
The Profit Margin and Operating Margin are not available for VOW so they could not be analyzed.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 25.05%
OM growth 3Y-71.59%
OM growth 5Y-60.48%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7%
GM growth 5Y-1.3%
VOW.OL Yearly Profit, Operating, Gross MarginsVOW.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 40 60

1

2. Health

2.1 Basic Checks

VOW does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for VOW has been increased compared to 1 year ago.
The number of shares outstanding for VOW has been increased compared to 5 years ago.
Compared to 1 year ago, VOW has an improved debt to assets ratio.
VOW.OL Yearly Shares OutstandingVOW.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M 200M 250M
VOW.OL Yearly Total Debt VS Total AssetsVOW.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B

2.2 Solvency

VOW has an Altman-Z score of 0.51. This is a bad value and indicates that VOW is not financially healthy and even has some risk of bankruptcy.
With a Altman-Z score value of 0.51, VOW is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
VOW has a Debt/Equity ratio of 0.81. This is a neutral value indicating VOW is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.81, VOW perfoms like the industry average, outperforming 52.38% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF N/A
Altman-Z 0.51
ROIC/WACCN/A
WACC8.13%
VOW.OL Yearly LT Debt VS Equity VS FCFVOW.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M

2.3 Liquidity

VOW has a Current Ratio of 0.68. This is a bad value and indicates that VOW is not financially healthy enough and could expect problems in meeting its short term obligations.
VOW has a Current ratio of 0.68. This is amonst the worse of the industry: VOW underperforms 83.33% of its industry peers.
VOW has a Quick Ratio of 0.68. This is a bad value and indicates that VOW is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.63, VOW is not doing good in the industry: 76.19% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 0.68
Quick Ratio 0.63
VOW.OL Yearly Current Assets VS Current LiabilitesVOW.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M

7

3. Growth

3.1 Past

The earnings per share for VOW have decreased strongly by -12.60% in the last year.
Looking at the last year, VOW shows a quite strong growth in Revenue. The Revenue has grown by 10.85% in the last year.
VOW shows a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 21.74% yearly.
EPS 1Y (TTM)-12.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-0.5%
Revenue 1Y (TTM)10.85%
Revenue growth 3Y30.89%
Revenue growth 5Y21.74%
Sales Q2Q%-9.93%

3.2 Future

The Earnings Per Share is expected to grow by 136.55% on average over the next years. This is a very strong growth
Based on estimates for the next years, VOW will show a very strong growth in Revenue. The Revenue will grow by 26.14% on average per year.
EPS Next Y-706.06%
EPS Next 2Y406.88%
EPS Next 3Y136.55%
EPS Next 5YN/A
Revenue Next Year5.85%
Revenue Next 2Y15.82%
Revenue Next 3Y6.28%
Revenue Next 5Y26.14%

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
VOW.OL Yearly Revenue VS EstimatesVOW.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 1B 2B 3B 4B
VOW.OL Yearly EPS VS EstimatesVOW.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 0.2 0.4

3

4. Valuation

4.1 Price/Earnings Ratio

VOW reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 5.35, the valuation of VOW can be described as very cheap.
Based on the Price/Forward Earnings ratio, VOW is valued cheaply inside the industry as 97.62% of the companies are valued more expensively.
VOW is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.88, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 5.35
VOW.OL Price Earnings VS Forward Price EarningsVOW.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 5 10 15 20 25

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, VOW is valued a bit more expensive than the industry average as 66.67% of the companies are valued more cheaply.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 190.94
VOW.OL Per share dataVOW.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 -5 -10 -15

4.3 Compensation for Growth

A more expensive valuation may be justified as VOW's earnings are expected to grow with 136.55% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y406.88%
EPS Next 3Y136.55%

0

5. Dividend

5.1 Amount

VOW does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

VOW ASA

OSL:VOW (1/9/2026, 7:00:00 PM)

2.62

+0.15 (+6.07%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCommercial & Professional Services
GICS IndustryCommercial Services & Supplies
Earnings (Last)11-19 2025-11-19
Earnings (Next)02-25 2026-02-25/amc
Inst Owners16.19%
Inst Owner ChangeN/A
Ins Owners1.18%
Ins Owner ChangeN/A
Market Cap763.52M
Revenue(TTM)1.02B
Net Income(TTM)-189.60M
Analysts45.71
Price Target10.86 (314.5%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
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)0%
EPS NQ rev (1m)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)61.63%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)-4.66%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 5.35
P/S 0.75
P/FCF N/A
P/OCF 50.9
P/B 1.96
P/tB N/A
EV/EBITDA 190.94
EPS(TTM)-16.64
EYN/A
EPS(NY)0.49
Fwd EY18.7%
FCF(TTM)-0.14
FCFYN/A
OCF(TTM)0.05
OCFY1.96%
SpS3.51
BVpS1.34
TBVpS-0.93
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -15.05%
ROE -48.59%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 25.05%
FCFM N/A
ROA(3y)-5.99%
ROA(5y)3.04%
ROE(3y)-21.1%
ROE(5y)1.46%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexgc growth 3YN/A
ROICexgc growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-71.59%
OM growth 5Y-60.48%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-7%
GM growth 5Y-1.3%
F-Score4
Asset Turnover0.81
Health
Industry RankSector Rank
Debt/Equity 0.81
Debt/FCF N/A
Debt/EBITDA 59.49
Cap/Depr 92.7%
Cap/Sales 5.35%
Interest Coverage N/A
Cash Conversion 283.02%
Profit Quality N/A
Current Ratio 0.68
Quick Ratio 0.63
Altman-Z 0.51
F-Score4
WACC8.13%
ROIC/WACCN/A
Cap/Depr(3y)239.86%
Cap/Depr(5y)282.37%
Cap/Sales(3y)11.74%
Cap/Sales(5y)14.09%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-12.6%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-0.5%
EPS Next Y-706.06%
EPS Next 2Y406.88%
EPS Next 3Y136.55%
EPS Next 5YN/A
Revenue 1Y (TTM)10.85%
Revenue growth 3Y30.89%
Revenue growth 5Y21.74%
Sales Q2Q%-9.93%
Revenue Next Year5.85%
Revenue Next 2Y15.82%
Revenue Next 3Y6.28%
Revenue Next 5Y26.14%
EBIT growth 1Y100.84%
EBIT growth 3Y-62.81%
EBIT growth 5Y-51.88%
EBIT Next Year147.74%
EBIT Next 3Y47.86%
EBIT Next 5Y66.3%
FCF growth 1Y79.83%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y115.97%
OCF growth 3Y106.76%
OCF growth 5YN/A

VOW ASA / VOW.OL FAQ

What is the fundamental rating for VOW stock?

ChartMill assigns a fundamental rating of 3 / 10 to VOW.OL.


Can you provide the valuation status for VOW ASA?

ChartMill assigns a valuation rating of 3 / 10 to VOW ASA (VOW.OL). This can be considered as Overvalued.


How profitable is VOW ASA (VOW.OL) stock?

VOW ASA (VOW.OL) has a profitability rating of 1 / 10.


What is the financial health of VOW ASA (VOW.OL) stock?

The financial health rating of VOW ASA (VOW.OL) is 1 / 10.


Is the dividend of VOW ASA sustainable?

The dividend rating of VOW ASA (VOW.OL) is 0 / 10 and the dividend payout ratio is 0%.