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Employees: 1,496
Size AKVA (AKVA.OL) is a Norway Industrials company (Metal Fabrication) with a market value of $618M, the 78th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 158.00 on 6 Nov 2026.
Performance Over six months the shares gained 17.9%, against -24.2% for the median peer and +2.7% for the Norway market (cap-weighted) — 5th highest of 21 in its peer set.
Growth Revenue grew 14.3% over the last twelve months (peer median +12.2%); the operating margin is 7.4% (peer median 8.3%).
Valuation It trades at 28.0× forward earnings against a peer median of 16.0× (6th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 4% a year for seven years (Req g). Recent delivered growth is +7%, so the hurdle is -3 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 3.1 points above its cost of capital (5.7% WACC).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 4.55B | NOK 4.38B | NOK 3.52B | NOK 3.41B | NOK 3.32B |
| Revenue growth | — | +24% | +3% | +3% | — |
| Gross profit | NOK 618M | NOK 519M | NOK 410M | NOK 269M | NOK 158M |
| EBITDA | NOK 582M | NOK 482M | NOK 370M | NOK 252M | NOK 114M |
| Net income | NOK 214M | NOK 184M | NOK 130M | -NOK 17.8M | -NOK 131M |
| Free cash flow | NOK 116M | NOK 233M | -NOK 106M | -NOK 26.6M | NOK 19.3M |
| Capital expenditure | NOK 201M | NOK 174M | NOK 189M | NOK 221M | NOK 168M |
| Total debt | NOK 1.69B | NOK 1.50B | NOK 1.60B | NOK 1.42B | NOK 1.29B |
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.
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 | AKVA.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +0.3% | -10.4% | 3rd highest of 21 |
| 6-month return | +17.9% | -24.2% | 5th highest of 21 |
| Distance from 52-week high | -0.6% | -48.0% | highest of 21 |
| Revenue growth (TTM) | +14.3% | +12.2% | 10th highest of 21 |
| Operating margin | 7.4% | 8.3% | 9th lowest of 21 |
| Forward P/E | 28.0× | 16.0× | 6th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 3.7% | 18.5% | 5th least demanding of 13 |
| Growth delivered (Del g) | +6.7% | +10.2% | 6th lowest of 13 |
| Hurdle (Req g minus delivered) | -3.0 pp | +5.7 pp | 4th least demanding of 13 |
| ROIC minus cost of capital | +3.1 pp | +0.1 pp | 7th highest of 21 |
| EV / EBITDA | 12.5× | 12.9× | 7th cheapest of 13 |
| Net debt / EBITDA | 2.6× | 0.7× | 4th most indebted of 13 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| AKVA AKVA.OL | Norway | $618M | +18% | +14% | 7% | 28.0× | 3.7% | +6.7% |
| Guangdong Enpack Packaging 002846.SZ | China | $609M | -37% | +20% | 3% | 53.7× | 18.4% | +11.4% |
| Park-Ohio PKOH | United States | $629M | +41% | +3% | 5% | 11.8× | 8.6% | +4.3% |
| Shenzhen Minglida Precision Technology 301268.SZ | China | $630M | -53% | +26% | -5% | 28.9× | 40.9% | +18.4% |
| Nan Juen International 6584.TWO | Taiwan | $633M | -59% | +44% | 27% | 15.9× | n/a | n/a |
| Yangzhou Seashine New Materials 300885.SZ | China | $637M | -40% | +39% | 22% | n/a | 24.7% | +4.3% |
| Zhejiang Zhongke Magnetic Industry 301141.SZ | China | $638M | -35% | +22% | 1% | n/a | n/a | n/a |
| G-SHANK Enterprise 2476.TW | Taiwan | $599M | -22% | +24% | 19% | n/a | -0.1% | +9.3% |
| Elmet ELMT | United States | $598M | +28% | +6% | 6% | 40.9× | 21.9% | +5.9% |
| Shanghai Zhongzhou Special Alloy Materials 300963.SZ | China | $651M | -44% | +1% | 8% | n/a | n/a | n/a |
| Jiangxi Yuean Advanced Materials 688786.SS | China | $587M | -13% | +12% | 21% | 30.1× | 24.8% | +11.2% |
| Hwaway Technology 001380.SZ | China | $586M | -24% | +7% | 11% | 15.6× | 1.3% | +30.4% |
| Zhejiang Meili High Technology 300611.SZ | China | $586M | -25% | +80% | 8% | 10.9× | n/a | n/a |
| Technocraft Industries (India) TIIL.NS | India | $655M | +9% | +12% | 14% | 16.0× | 18.5% | +16.3% |
| SBE-Varvit VARV.MI | Italy | $663M | -7% | +11% | 12% | 15.1× | -0.9% | -4.6% |
| Gem-Year Industrial 601002.SS | China | $668M | -25% | +5% | 14% | n/a | -7.5% | -1.5% |
| Skipper SKIPPER.NS | India | $669M | +7% | +17% | 9% | 21.7× | n/a | n/a |
| ALCONIX 3036.T | Japan | $566M | +19% | +18% | 6% | 13.6× | n/a | n/a |
| Shenzhen Pacific Union Precision Manufacturing 688210.SS | China | $565M | -48% | -16% | -14% | 38.9× | n/a | n/a |
| Jiangsu Tongli Tianqi Technology 605286.SS | China | $559M | -46% | -23% | -14% | 7.9× | n/a | n/a |
| Rolex Rings ROLEXRINGS.NS | India | $558M | +36% | +2% | 17% | 24.3× | 27.0% | +13.2% |