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Norwegian maker of navigation, automation and propulsion systems for ships, spun off from Kongsberg Gruppen in 2026.
Norwegian maker of navigation, automation and propulsion systems for ships, spun off from Kongsberg Gruppen in 2026.
Sells equipment on new ship orders, which depend on shipyard order books, then earns steadier income from service, upgrades and spare parts on vessels already fitted with its systems. Its systems are chosen early in a ship's design, so shipyards and owners tend to stay with it.
In one line: No direct US equivalent; a marine-electronics specialist.
Moat: narrow (installed base, process know-how, customer qualification). Deep installed base on merchant/offshore vessels and integrated systems create service and upgrade lock-in.
Headquarters: Kongsberg, Norway · Founded: 2026
Size Kongsberg Maritime (KMAR.OL) is a Norway Industrials company (Trucks/Construction/Farm Machinery) with a market value of $5.43B, the 18th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 57.26 on 6 Nov 2026.
Performance Over six months the shares fell 1.4%, against -12.2% for the median peer and +2.7% for the Norway market (cap-weighted) — 8th highest of 21 in its peer set.
Growth Revenue grew 6.3% over the last twelve months (peer median +8.6%); the operating margin is 12.8% (peer median 7.0%).
Valuation It trades at 21.8× forward earnings against a peer median of 16.1× (5th most expensive of 20).
Price implies For today's price to make sense, revenue must grow about 1% a year for seven years (Req g). Recent delivered growth is +6%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 29.8 points above its cost of capital (8.6% WACC).
Next results Next results expected around 3 Mar 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | |
|---|---|---|---|---|
| Revenue | n/a | NOK 26.9B | NOK 25.3B | NOK 20.7B |
| Revenue growth | — | +6% | +22% | — |
| Gross profit | n/a | NOK 6.94B | NOK 7.15B | NOK 4.95B |
| EBITDA | n/a | NOK 4.13B | NOK 4.01B | NOK 2.54B |
| Net income | n/a | NOK 3.78B | NOK 2.49B | NOK 1.19B |
| Free cash flow | n/a | NOK 4.45B | NOK 3.57B | NOK 316M |
| Capital expenditure | n/a | NOK 445M | NOK 387M | NOK 412M |
| Total debt | NOK 4.40B | NOK 4.35B | NOK 2.87B | NOK 2.48B |
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 |
|---|---|---|---|---|---|---|
| Kongsberg Maritime KMAR.OL | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% |
| Wartsila Oyj Abp WRT1V.HE | $17.1B | -25% | -2% | 13% | 23.5× | 7.2% |
| ABB ABBN.SW | $147B | -17% | +1% | 18% | 24.5× | 4.3% |
| Furuno Electric 6814.T | $1.42B | -1% | +14% | 13% | 13.0× | 7.4% |
| Teledyne Technologies TDY | $28.5B | 0% | +8% | 20% | 22.9× | 15.5% |
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 | KMAR.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.2% | -6.6% | 9th highest of 21 |
| 6-month return | -1.4% | -12.2% | 8th highest of 21 |
| Distance from 52-week high | -18.4% | -30.9% | 4th highest of 21 |
| Revenue growth (TTM) | +6.3% | +8.6% | 8th lowest of 21 |
| Operating margin | 12.8% | 7.0% | 7th highest of 21 |
| Forward P/E | 21.8× | 16.1× | 5th most expensive of 20 |
| Growth the price implies (Req g, 7 yrs) | 0.9% | 3.1% | 6th least demanding of 19 |
| Growth delivered (Del g) | +6.3% | +11.8% | 7th lowest of 19 |
| Hurdle (Req g minus delivered) | -5.4 pp | -7.7 pp | 9th most demanding of 19 |
| ROIC minus cost of capital | +29.8 pp | +0.2 pp | 2nd highest of 19 |
| EV / EBITDA | 11.8× | 10.8× | 8th most expensive of 16 |
| Net debt / EBITDA | -0.4× | 1.2× | 5th least indebted of 17 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Kongsberg Maritime KMAR.OL | Norway | $5.43B | -1% | +6% | 13% | 21.8× | 0.9% | +6.3% |
| Alstom ALO.PA | France | $5.56B | -40% | +4% | 4% | n/a | 2.7% | +16.9% |
| TKMS AG & Co. KGaA TKMS.DE | Germany | $5.57B | +8% | +15% | 5% | 39.8× | n/a | n/a |
| Hyundai Rotem 064350.KS | South Korea | $5.75B | -73% | +12% | 15% | 9.7× | -4.0% | +16.0% |
| Fincantieri FCT.MI | Italy | $4.98B | +3% | -1% | 0% | 21.5× | 1.2% | +9.1% |
| Seatrium 5E2.SI | Singapore | $4.77B | -19% | +11% | 4% | 13.0× | 4.0% | +50.0% |
| Terex TEX | United States | $6.18B | -14% | +40% | 7% | 9.9× | 12.1% | +12.0% |
| Hitachi Construction Machinery 6305.T | Japan | $6.36B | -12% | +7% | 10% | 11.2× | 3.9% | +11.6% |
| Zhejiang Dingli Machinery 603338.SS | China | $4.57B | +9% | +29% | 22% | 14.8× | 1.6% | +23.7% |
| Babcock International BAB.L | United Kingdom | $6.60B | 0% | +7% | 6% | 15.4× | 13.2% | +5.5% |
| CSSC Offshore & Marine Engineering (Group) 600685.SS | China | $4.16B | -19% | +5% | 1% | 23.9× | 1.1% | +12.1% |
| Doosan 000150.KS | South Korea | $7.10B | -60% | +11% | 6% | 16.1× | 15.0% | +11.6% |
| Accelleron Industries ACLN.SW | Switzerland | $7.29B | -25% | +13% | 25% | 25.1× | 3.5% | +12.1% |
| Konecranes KCR.HE | Finland | $7.47B | +5% | -1% | 13% | 15.9× | 9.1% | +5.7% |
| Bucher Industries BUCN.SW | Switzerland | $3.93B | +4% | -4% | 7% | 19.1× | -2.9% | +1.2% |
| Gaztransport & Technigaz GTT.PA | France | $7.50B | -13% | +9% | 64% | 16.1× | -3.1% | +15.2% |
| AGCO AGCO | United States | $7.61B | -6% | +1% | 6% | 17.1× | 10.5% | +2.0% |
| Stadler Rail SRAIL.SW | Switzerland | $3.84B | +38% | +26% | 5% | 19.8× | 0.2% | +3.6% |
| Mazagon Dock Shipbuilders MAZDOCK.NS | India | $7.87B | -31% | +8% | 15% | 30.5× | n/a | n/a |
| Doosan Bobcat 241560.KS | South Korea | $3.64B | -28% | +11% | 9% | 9.0× | -13.3% | +15.5% |
| Weir WEIR.L | United Kingdom | $8.18B | -3% | +6% | 18% | 18.1× | 19.3% | +5.5% |