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Norwegian offshore oil and gas exploration and production company operating fields on the Norwegian continental shelf.
Norwegian offshore oil and gas exploration and production company operating fields on the Norwegian continental shelf.
In one line: A focused, offshore-only Norwegian EOG Resources.
Moat: narrow (process know-how, installed base). Efficient offshore operator on Norwegian shelf fields; no pricing power over commodity output.
Headquarters: Stavanger, Norway · Founded: 1981 · Employees: 3,108
Size Aker BP (AKRBP.OL) is a Norway Energy company (Integrated Oil) with a market value of $21.6B, the 4th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 316.80 on 6 Nov 2026.
Performance Over six months the shares fell 8.2%, against +0.8% for the median peer and +2.7% for the Norway market (cap-weighted) — 6th lowest of 21 in its peer set.
Growth Revenue grew 3.5% over the last twelve months (peer median +18.3%); the operating margin is 70.5% (peer median 23.7%).
Valuation It trades at 7.8× forward earnings against a peer median of 7.4× (8th most expensive of 21).
Price implies For today's price to make sense, revenue must grow about -15% a year for seven years (Req g). Recent delivered growth is +33%, so the hurdle is -48 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 27.7 points above its cost of capital (9.2% WACC).
Credit Aker BP has 6 bonds outstanding ($5.17B), rated BBB by the agencies and trading like BBB at a weighted spread of 99 bp.
Next results Next results expected around 10 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 124B | NOK 111B | NOK 132B | NOK 144B | NOK 124B |
| Revenue growth | — | -16% | -8% | +16% | — |
| Gross profit | NOK 84.4B | NOK 65.9B | NOK 90.0B | NOK 102B | NOK 93.9B |
| EBITDA | NOK 111B | NOK 97.1B | NOK 119B | NOK 130B | NOK 113B |
| Net income | NOK 20.2B | NOK 1.37B | NOK 19.7B | NOK 14.1B | NOK 15.4B |
| Free cash flow | NOK 13.4B | -NOK 3.03B | NOK 14.9B | NOK 21.0B | NOK 38.4B |
| Capital expenditure | NOK 72.7B | NOK 74.5B | NOK 55.0B | NOK 36.0B | NOK 17.6B |
| Total debt | NOK 92.7B | NOK 98.2B | NOK 91.7B | NOK 66.0B | NOK 53.3B |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
| Company | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g |
|---|---|---|---|---|---|---|
| Aker BP AKRBP.OL | $21.6B | -8% | +4% | 70% | 7.8× | -15.4% |
| Equinor EQNR.OL | $102B | +12% | +2% | 33% | 7.2× | -15.4% |
| Var Energi VAR.OL | $13.3B | +7% | +48% | 55% | 6.9× | -19.6% |
| ConocoPhillips COP | $164B | +21% | +9% | 22% | 11.5× | -6.2% |
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | AKRBP.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -8.5% | -5.4% | 5th lowest of 21 |
| 6-month return | -8.2% | +0.8% | 6th lowest of 21 |
| Distance from 52-week high | -19.8% | -18.1% | 9th lowest of 21 |
| Revenue growth (TTM) | +3.5% | +18.3% | 5th lowest of 21 |
| Operating margin | 70.5% | 23.7% | highest of 21 |
| Forward P/E | 7.8× | 7.4× | 8th most expensive of 21 |
| Growth the price implies (Req g, 7 yrs) | -15.4% | -7.6% | 4th least demanding of 20 |
| Growth delivered (Del g) | +32.7% | +20.3% | 4th highest of 20 |
| Hurdle (Req g minus delivered) | -48.1 pp | -30.6 pp | 4th least demanding of 20 |
| ROIC minus cost of capital | +27.7 pp | +4.5 pp | 2nd highest of 21 |
| EV / EBITDA | 2.4× | 4.2× | 2nd cheapest of 21 |
| Net debt / EBITDA | 0.6× | 0.8× | 9th least indebted of 21 |
| Bond spread | 99 bp | 104 bp | 4th tightest of 10 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aker BP AKRBP.OL | Norway | $21.6B | -8% | +4% | 70% | 7.8× | -15.4% | +32.7% |
| Indian Oil IOC.NS | India | $21.9B | 0% | +23% | 7% | 20.8× | -2.3% | +16.4% |
| Expand Energy EXE | United States | $19.5B | -11% | +20% | 20% | 10.8× | -7.6% | +20.3% |
| Permian Resources PR | United States | $18.2B | +10% | +13% | 36% | 8.1× | -2.0% | +54.2% |
| Inpex 1605.T | Japan | $25.9B | -16% | -8% | 49% | 7.4× | -14.4% | +21.1% |
| YPF SA Sponsored ADR YPF | United States | $17.8B | -9% | -14% | 22% | 4.9× | n/a | n/a |
| Ovintiv OVV | United States | $16.3B | +5% | +14% | 29% | 7.1× | -10.9% | +9.4% |
| APA APA | United States | $15.6B | +26% | -12% | 41% | 7.5× | -20.0% | +15.0% |
| Oil & Natural Gas ONGC.NS | India | $30.8B | -18% | +7% | 9% | 5.6× | -12.6% | +14.9% |
| EQT EQT | United States | $30.9B | -12% | +18% | 42% | 16.0× | -1.9% | +25.7% |
| Whitecap Resources WCP.TO | Canada | $14.4B | +6% | +73% | 38% | 8.8× | -7.1% | +44.8% |
| Ecopetrol SA Sponsored ADR EC | United States | $32.6B | +23% | +6% | 22% | 6.5× | -6.7% | +15.9% |
| Var Energi VAR.OL | Norway | $13.3B | +7% | +48% | 55% | 6.9× | -19.6% | +26.6% |
| Repsol REP.MC | Spain | $36.2B | +34% | +24% | 13% | 4.7× | -20.1% | +10.5% |
| Devon Energy DVN | United States | $46.4B | -7% | +18% | 24% | 7.6× | 0.9% | +31.5% |
| Cenovus Energy CVE.TO | Canada | $50.2B | 0% | +12% | 21% | 6.7× | -14.4% | +29.7% |
| Occidental Petroleum OXY | United States | $56.4B | +7% | -11% | 23% | 9.1× | -2.5% | +4.7% |
| Imperial Oil IMO.TO | Canada | $59.5B | +3% | +19% | 14% | 10.5× | -0.2% | +17.1% |
| Oil India OIL.NS | India | $7.60B | -2% | +20% | 29% | 7.7× | -1.1% | +13.7% |
| Chord Energy CHRD | United States | $7.47B | 0% | +19% | 19% | 6.3× | -13.4% | +38.6% |
| SM Energy SM | United States | $7.12B | +2% | +100% | 38% | 3.5× | -13.6% | +22.9% |
Aker BP has 6 bonds outstanding with $5.17B face value. The agencies rate it BBB; its bonds trade like BBB. Weighted yield 5.14%, a spread of 99 bp over government bonds.