Loading…
Norwegian offshore support vessel operator providing subsea construction, anchor-handling and supply vessels for offshore energy.
Norwegian offshore support vessel operator providing subsea construction, anchor-handling and supply vessels for offshore energy.
Hires out vessels with crews on day-rate charters (a fixed daily fee), some on long contracts and the rest on short spot jobs, so earnings follow how many vessels are working and the rate each earns. Replacing such ships is costly, which limits new supply.
In one line: A Norwegian offshore support vessel operator for offshore oil & gas and wind.
Moat: narrow (installed base). Specialized high-spec OSV fleet with high replacement cost supports day-rate contracts.
Headquarters: Skudeneshavn, Norway · Founded: 1964 · Employees: 1,363
Size Solstad Maritime (SOMA.OL) is a Norway Industrials company (Marine Shipping) with a market value of $1.36B, the 53rd largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 27.20 on 6 Nov 2026.
Performance Over six months the shares fell 5.9%, against +0.3% for the median peer and +2.7% for the Norway market (cap-weighted) — 8th lowest of 20 in its peer set.
Growth Revenue grew 16.9% over the last twelve months (peer median +5.1%); the operating margin is 39.6% (peer median 12.9%).
Valuation It trades at 5.5× forward earnings against a peer median of 8.8× (3rd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about -3% a year for seven years (Req g). Recent delivered growth is +23%, so the hurdle is -25 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.2 points above its cost of capital (10.4% WACC).
Next results Next results expected around 11 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 6.71B | NOK 6.03B | NOK 5.16B | NOK 4.94B | NOK 3.27B |
| Revenue growth | — | +17% | +4% | +51% | — |
| Gross profit | NOK 2.84B | NOK 2.12B | NOK 1.48B | NOK 1.58B | NOK 510M |
| EBITDA | NOK 3.53B | NOK 2.75B | NOK 2.03B | NOK 2.15B | NOK 1.04B |
| Net income | NOK 2.89B | NOK 2.21B | NOK 2.62B | NOK 645M | -NOK 1.07B |
| Free cash flow | NOK 1.49B | NOK 1.19B | NOK 1.71B | NOK 810M | -NOK 204M |
| Capital expenditure | NOK 632M | NOK 1.25B | NOK 682M | NOK 654M | NOK 458M |
| Total debt | NOK 6.50B | NOK 6.13B | NOK 8.83B | NOK 11.2B | NOK 18.0B |
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 |
|---|---|---|---|---|---|---|
| Solstad Maritime SOMA.OL | $1.36B | -6% | +17% | 40% | 5.5× | -2.5% |
| Tidewater TDW | $3.49B | -14% | -1% | 18% | 13.3× | 1.2% |
| DOF DOFG.OL | $3.24B | -12% | +22% | 26% | 7.8× | 0.9% |
| Bourbon 2208.T | $451M | +3% | +7% | 6% | 20.4× | -12.1% |
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 | SOMA.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -4.9% | -5.4% | 11th highest of 21 |
| 6-month return | -5.9% | +0.3% | 8th lowest of 20 |
| Distance from 52-week high | -10.5% | -16.0% | 5th highest of 21 |
| Revenue growth (TTM) | +16.9% | +5.1% | 3rd highest of 20 |
| Operating margin | 39.6% | 12.9% | 6th highest of 20 |
| Forward P/E | 5.5× | 8.8× | 3rd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | -2.5% | -4.0% | 5th most demanding of 14 |
| Growth delivered (Del g) | +22.7% | +10.7% | 2nd highest of 14 |
| Hurdle (Req g minus delivered) | -25.2 pp | -14.0 pp | 3rd least demanding of 14 |
| ROIC minus cost of capital | +4.2 pp | -0.1 pp | 5th highest of 19 |
| EV / EBITDA | 4.9× | 5.6× | 5th cheapest of 18 |
| Net debt / EBITDA | 1.3× | 1.6× | 8th least indebted of 18 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Solstad Maritime SOMA.OL | Norway | $1.36B | -6% | +17% | 40% | 5.5× | -2.5% | +22.7% |
| Dfds A/s DFDS.CO | Denmark | $1.33B | +8% | +3% | 3% | 17.0× | 4.6% | +17.2% |
| Global Ship Lease GSL | United States | $1.41B | -8% | +6% | 48% | 4.1× | -15.2% | +22.1% |
| Dampskibsselskabet NORDEN A/S DNORD.CO | Denmark | $1.46B | +15% | +7% | 3% | 9.6× | n/a | n/a |
| Rizhao Port 600017.SS | China | $1.26B | -7% | +3% | 13% | 17.1× | n/a | n/a |
| MPC Container Ships MPCC.OL | Norway | $1.26B | 0% | -15% | 37% | 7.8× | -13.3% | +27.1% |
| Capital Clean Energy Carriers CCEC | United States | $1.24B | +3% | +5% | 50% | 8.1× | n/a | n/a |
| MITSUI-SOKO 9302.T | Japan | $1.52B | -22% | +6% | 7% | 17.8× | -1.6% | +3.4% |
| Costamare CMRE | United States | $1.54B | -28% | -42% | 44% | 5.2× | -6.9% | +13.0% |
| NS United Kaiun Kaisha,Ltd 9110.T | Japan | $1.58B | +39% | +11% | 11% | n/a | -5.0% | +10.7% |
| Ningbo Ocean Shipping 601022.SS | China | $1.58B | -7% | +13% | 11% | n/a | n/a | n/a |
| Volare Shipping VLCC.OL | Norway | $1.17B | n/a | n/a | n/a | n/a | n/a | n/a |
| Genco Shipping & Trading GNK | United States | $1.13B | 0% | +26% | 17% | 10.2× | n/a | n/a |
| 2020 Bulkers 2020.OL | Norway | $1.10B | +20% | +256% | 92% | 170.2× | 9.2% | +7.3% |
| U-Ming Marine Transport 2606.TW | Taiwan | $1.70B | +6% | +13% | 29% | 8.7× | -3.8% | +12.8% |
| d'Amico International Shipping DIS.MI | Italy | $1.09B | -3% | -15% | 36% | 8.0× | -7.3% | +2.3% |
| Iino Kaiun Kaisha,Ltd 9119.T | Japan | $1.04B | -6% | +1% | 11% | 11.6× | n/a | n/a |
| Stolt-Nielsen SNI.OL | Norway | $1.82B | +4% | -5% | 11% | 8.8× | -4.5% | +9.5% |
| Cj Logistics 000120.KS | South Korea | $1.01B | -32% | +5% | 4% | 7.8× | -4.0% | +2.6% |
| CSSC (Hong Kong) Shipping 3877.HK | Hong Kong | $1.85B | -4% | -10% | 60% | 7.2× | -3.2% | +14.9% |
| Sumitomo Warehouse 9303.T | Japan | $1.87B | +4% | +2% | 6% | 16.3× | 11.3% | +0.4% |