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Norwegian maritime industrial holding group combining a car-carrier shipping stake with global ship agency and port services.
Norwegian maritime industrial holding group combining a car-carrier shipping stake with global ship agency and port services.
A holding company: much of its value comes from a stake in Wallenius Wilhelmsen, a car-carrier company, whose results flow through as a share of earnings and dividends, alongside fees from ship agency, supply and port services that it runs itself. The Wilhelmsen family controls it.
In one line: A Norwegian maritime industrial holding group.
Moat: narrow (installed base, scale). Diversified maritime services network built over 160+ years plus a major car-carrier equity stake.
Headquarters: Lysaker, Norway · Founded: 1861
Size Wilh. Wilhelmsen (WWI.OL) is a Norway Industrials company (Other Transportation) with a market value of $3.87B, the 23rd largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 865.00 on 6 Nov 2026.
Performance Over six months the shares gained 22.9%, against -3.0% for the median peer and +2.7% for the Norway market (cap-weighted) — highest of 21 in its peer set.
Growth Revenue fell 3.5% over the last twelve months (peer median +7.3%); the operating margin is 10.3% (peer median 16.7%).
Valuation It trades at 8.4× forward earnings against a peer median of 14.4× (2nd cheapest of 18).
Price implies For today's price to make sense, revenue must grow about 6% a year for seven years (Req g). Recent delivered growth is +11%, so the hurdle is -5 pp: the price already allows for a slowdown.
Capital Return on invested capital runs 4.8 points below its cost of capital (7.8% WACC).
Next results Next results expected around 18 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 12.3B | NOK 12.8B | NOK 12.2B | NOK 10.9B | NOK 9.07B |
| Revenue growth | — | +5% | +13% | +20% | — |
| Gross profit | NOK 1.26B | NOK 1.20B | NOK 2.36B | NOK 2.22B | NOK 1.85B |
| EBITDA | NOK 1.98B | NOK 1.90B | NOK 1.68B | NOK 1.54B | NOK 1.33B |
| Net income | NOK 5.20B | NOK 6.78B | NOK 5.36B | NOK 4.93B | NOK 3.85B |
| Free cash flow | NOK 5.79B | NOK 5.63B | NOK 3.72B | NOK 3.13B | NOK 433M |
| Capital expenditure | NOK 1.04B | NOK 779M | NOK 430M | NOK 455M | NOK 471M |
| Total debt | NOK 4.22B | NOK 4.30B | NOK 4.93B | NOK 6.17B | NOK 6.44B |
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 |
|---|---|---|---|---|---|---|
| Wilh. Wilhelmsen WWI.OL | $3.87B | +23% | -4% | 10% | 8.4× | 6.2% |
| A.P. Moller - Maersk A/S MAERSK-A.CO | $47.6B | +44% | -8% | 5% | 5.9× | -1.3% |
| Hoegh Autoliners HAUTO.OL | $3.64B | +20% | -4% | 30% | 9.6× | -0.1% |
| Clarkson CKN.L | $1.90B | -5% | +15% | 14% | 13.9× | 5.2% |
| Inchcape INCH.L | $2.87B | -21% | +7% | 6% | 7.5× | -6.0% |
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 | WWI.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | -3.2% | +2.5% | 3rd lowest of 21 |
| 6-month return | +22.9% | -3.0% | highest of 21 |
| Distance from 52-week high | -10.2% | -18.3% | 7th highest of 21 |
| Revenue growth (TTM) | -3.5% | +7.3% | 4th lowest of 21 |
| Operating margin | 10.3% | 16.7% | 7th lowest of 21 |
| Forward P/E | 8.4× | 14.4× | 2nd cheapest of 18 |
| Growth the price implies (Req g, 7 yrs) | 6.2% | -2.9% | 3rd most demanding of 15 |
| Growth delivered (Del g) | +11.0% | +8.8% | 6th highest of 15 |
| Hurdle (Req g minus delivered) | -4.8 pp | -9.7 pp | 6th most demanding of 15 |
| ROIC minus cost of capital | -4.8 pp | +0.5 pp | 3rd lowest of 21 |
| EV / EBITDA | 17.3× | 10.1× | most expensive of 9 |
| Net debt / EBITDA | -0.9× | 2.9× | least indebted of 11 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Wilh. Wilhelmsen WWI.OL | Norway | $3.87B | +23% | -4% | 10% | 8.4× | 6.2% | +11.0% |
| Atlas Arteria ALX.AX | Australia | $3.78B | -21% | +2% | -20% | 20.6× | -3.5% | +8.9% |
| Corporacion America Airports CAAP | United States | $4.00B | -3% | +16% | 23% | 9.6× | -6.3% | +26.4% |
| Anhui Expressway 0995.HK | Hong Kong | $4.18B | -3% | -17% | 45% | 10.5× | -5.8% | +16.6% |
| Guangzhou Port 601228.SS | China | $3.54B | -3% | -18% | 11% | n/a | n/a | n/a |
| Kintetsu 9041.T | Japan | $4.23B | +5% | +2% | 5% | 13.5× | n/a | n/a |
| Tangshan Port 601000.SS | China | $4.27B | +3% | +10% | 39% | 13.9× | -11.0% | -6.2% |
| Japan Airport Terminal 9706.T | Japan | $3.46B | +16% | +8% | 17% | 19.2× | -2.3% | +40.7% |
| SATS S58.SI | Singapore | $4.34B | +15% | +9% | 9% | 17.6× | -0.2% | +45.6% |
| Taiwan High Speed Rail 2633.TW | Taiwan | $4.36B | -3% | +4% | 39% | 19.2× | 0.8% | +6.9% |
| COSCO SHIPPING Ports 1199.HK | Hong Kong | $3.32B | +18% | +12% | 14% | 8.5× | 8.7% | +10.9% |
| Liaoning Port 2880.HK | Hong Kong | $4.53B | -26% | +1% | 21% | n/a | -9.0% | -2.0% |
| Hainan Airport Infrastructure 600515.SS | China | $4.56B | -26% | +25% | -5% | 133.0× | n/a | n/a |
| ENAV ENAV.MI | Italy | $3.19B | +8% | +3% | 9% | 26.9× | 13.8% | +6.0% |
| Guangzhou Baiyun International Airport 600004.SS | China | $3.18B | -6% | +9% | 11% | 25.2× | -12.5% | +8.8% |
| Beibu Gulf Port 000582.SZ | China | $3.14B | -25% | -1% | 21% | 18.6× | n/a | n/a |
| Zhejiang Expressway 0576.HK | Hong Kong | $4.86B | -13% | +18% | 33% | 5.9× | n/a | n/a |
| Shenzhen Expressway 600548.SS | China | $2.99B | -4% | -5% | 17% | 14.4× | 0.6% | +2.9% |
| Sichuan Expressway 601107.SS | China | $2.89B | +16% | +7% | 27% | 13.2× | n/a | n/a |
| Xiamen Port Development 000905.SZ | China | $2.87B | -25% | +14% | 4% | n/a | 4.2% | +7.1% |
| Grupo Aeroportuario del Centro Norte SAB de CV Sponsored ADR OMAB | United States | $5.21B | +2% | +21% | 53% | 13.2× | -5.1% | +27.2% |