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Norwegian offshore engineering company supplying subsea production systems and platforms, expanding into carbon capture and offshore wind.
Norwegian offshore engineering company supplying subsea production systems and platforms, expanding into carbon capture and offshore wind.
Paid through project contracts and long framework agreements with oil and gas operators, with revenue recognised as work progresses, plus service work on platforms already operating. Aker ASA, Kjell Inge Rokke's investment company, is its largest shareholder.
In one line: A Norwegian offshore oil & gas engineering company diversifying into renewables/CCS.
Moat: narrow (process know-how, installed base). Deep subsea engineering expertise and long-standing relationships with North Sea operators.
Headquarters: Fornebu, Norway · Founded: 2014 · Employees: 11,818
Size Aker Solutions (AKSO.OL) is a Norway Utilities company (Alternative Power Generation) with a market value of $1.89B, the 45th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 36.00 on 6 Nov 2026.
Performance Over six months the shares fell 17.5%, against -18.6% for the median peer and +2.7% for the Norway market (cap-weighted) — 10th highest of 19 in its peer set.
Growth Revenue fell 8.5% over the last twelve months (peer median +5.4%); the operating margin is 4.8% (peer median 27.1%).
Valuation It trades at 5.8× forward earnings against a peer median of 16.9× (2nd cheapest of 19).
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 +17%, so the hurdle is -32 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 25.6 points above its cost of capital (10.0% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 56.0B | NOK 62.2B | NOK 52.2B | NOK 35.9B | NOK 27.3B |
| Revenue growth | — | +19% | +45% | +31% | — |
| Gross profit | NOK 2.68B | NOK 7.71B | NOK 6.48B | NOK 3.68B | NOK 2.93B |
| EBITDA | NOK 4.21B | NOK 4.26B | NOK 3.62B | NOK 830M | NOK 457M |
| Net income | NOK 3.06B | NOK 2.55B | NOK 2.66B | NOK 1.91B | NOK 1.18B |
| Free cash flow | NOK 5.71B | NOK 3.03B | NOK 2.09B | NOK 4.57B | NOK 3.86B |
| Capital expenditure | NOK 372M | NOK 498M | NOK 1.45B | NOK 2.22B | NOK 620M |
| Total debt | NOK 2.68B | NOK 3.13B | NOK 3.35B | NOK 3.54B | NOK 5.43B |
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 Solutions AKSO.OL | $1.89B | -17% | -9% | 5% | 5.8× | -14.7% |
| TechnipFMC FTI | $24.7B | -9% | +8% | 16% | 17.4× | 3.7% |
| Subsea 7 SUBC.OL | $9.71B | -5% | -2% | 13% | 12.4× | -2.4% |
| Saipem SPM.MI | $9.38B | -9% | +2% | 4% | 27.1× | 6.9% |
| Baker Hughes BKR | $47.5B | -25% | +4% | 12% | 17.4× | 10.0% |
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 | AKSO.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -10.9% | -3.6% | 5th lowest of 21 |
| 6-month return | -17.5% | -18.6% | 10th highest of 19 |
| Distance from 52-week high | -25.7% | -37.2% | 9th highest of 21 |
| Revenue growth (TTM) | -8.5% | +5.4% | 5th lowest of 21 |
| Operating margin | 4.8% | 27.1% | 3rd lowest of 21 |
| Forward P/E | 5.8× | 16.9× | 2nd cheapest of 19 |
| Growth the price implies (Req g, 7 yrs) | -14.7% | -0.1% | least demanding of 11 |
| Growth delivered (Del g) | +16.9% | +8.3% | 5th highest of 11 |
| Hurdle (Req g minus delivered) | -31.6 pp | -12.1 pp | 2nd least demanding of 11 |
| ROIC minus cost of capital | +25.6 pp | -1.3 pp | highest of 21 |
| EV / EBITDA | 3.4× | 15.2× | cheapest of 13 |
| Net debt / EBITDA | -0.7× | 6.9× | least indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Aker Solutions AKSO.OL | Norway | $1.89B | -17% | -9% | 5% | 5.8× | -14.7% | +16.9% |
| Grandtop Yongxing 601033.SS | China | $1.83B | -2% | +6% | 26% | 14.0× | -5.1% | +18.4% |
| Luenmei Quantum 600167.SS | China | $1.76B | -21% | -11% | 15% | 19.4× | -8.9% | -2.1% |
| Jiaze Renewables 601619.SS | China | $1.65B | -34% | -5% | 43% | 15.0× | 0.2% | +19.7% |
| Nyocor 600821.SS | China | $1.63B | -29% | -12% | 12% | 40.5× | 6.8% | +20.6% |
| Clean Max Enviro Energy Solutions CLEANMAX.NS | India | $1.57B | +8% | +28% | 44% | 107.0× | n/a | n/a |
| Juniper Green Energy JNPR.NS | India | $1.54B | n/a | +1,313% | 52% | 100.5× | n/a | n/a |
| Scatec SCATC.OL | Norway | $1.50B | -16% | +16% | 29% | n/a | n/a | n/a |
| Solaria Energia y Medio Ambiente SLR.MC | Spain | $2.40B | -33% | +26% | 92% | 11.2× | n/a | n/a |
| ReNew Energy Global RNW | United States | $2.53B | +23% | +11% | 42% | 26.4× | n/a | n/a |
| XPLR Infrastructure, LP XIFR | United States | $1.38B | -38% | -1% | 3% | 3.0× | n/a | n/a |
| CECEP Solar Energy 000591.SZ | China | $2.65B | -9% | -13% | 28% | 17.4× | 0.4% | -1.5% |
| Fervo Energy FRVO | United States | $2.66B | n/a | -31% | -35,367% | n/a | n/a | n/a |
| Alerion Clean Power ARN.MI | Italy | $1.11B | -35% | +13% | 51% | 16.4× | n/a | n/a |
| Cox Infrastructure COXG.MC | Spain | $1.05B | -12% | +72% | 9% | 10.1× | n/a | n/a |
| ERG ERG.MI | Italy | $3.77B | -3% | +5% | 28% | 19.4× | 10.0% | -2.8% |
| SK Eternix 475150.KS | South Korea | $949M | -35% | +39% | 9% | 40.0× | n/a | n/a |
| Xinyi Energy 3868.HK | Hong Kong | $863M | -38% | +2% | 54% | 8.1× | -2.6% | +9.1% |
| Waaree Renewable Technologies WAAREERTL.NS | India | $810M | -30% | +78% | 17% | 12.2× | 24.1% | +203.3% |
| Fujian Funeng 600483.SS | China | $4.53B | +9% | -1% | 22% | 10.7× | -4.9% | +7.5% |
| Hubei Energy 000883.SZ | China | $4.58B | -11% | -5% | 15% | 17.6× | -0.4% | +0.6% |