DOFG Stock Analysis: DOF ASA | OL
Engineering & Construction | OL, Norway | Market Cap: 33.445m NOK | 12M Return: 52.3% | NO0012851874 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 41.5M
Qual. Beats: 0
Rev. Trend: -20.6%
Qual. Beats: 0
Warnings
Tailwinds
Seasonality 3.3 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
DOF Group ASA owns and operates a fleet of offshore and subsea vessels, operating through four segments: Shipowning, DOF Subsea regions, Norskan Offshore, and DOFCON JV. The company provides construction and installation, decommissioning, engineering, inspection, maintenance and repair, offshore wind services, ROV and AUV operations, saturation and air diving, survey and positioning, and towing, mooring, and installation services. It also handles port and marine logistics for floating wind, turbine integration and marshalling, dynamic and offshore cable installation and repair, anchor and mooring installation, and subsea construction for fixed wind, alongside crewing, maintenance, mobilization, and new building services. The fleet comprises 6 PSVs, 18 CSVs, and 25 AHTSs, supplemented by 74 ROVs and AUVs, with operations spanning Brazil, the United States, Australia, the United Kingdom, Norway, Angola, Mauritania, Guyana, Congo, the Netherlands, Canada, Singapore, the Philippines, and Argentina. The company was founded in 1981 and is headquartered in Storebø, Norway.
The companys vessel types address distinct offshore roles: Platform Supply Vessels (PSVs) deliver supplies and equipment to oil and gas platforms, Construction Support Vessels (CSVs) are equipped with cranes for subsea installation work, and Anchor Handling Tug Supply vessels (AHTSs) handle anchor placement, towing, and rig moves. Offshore service providers in this segment have increasingly pivoted toward renewable energy work, with the offshore wind market driving demand for cable installation, turbine integration, and floating wind support services alongside traditional oil and gas activity.
- Brazilian deepwater activity lifts PSV and AHTS utilization
- Offshore wind installation contracts expand subsea backlog
- DOFCON JV contribution supports North Sea day rates
| Net Income: 1.44b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.11 > 0.02 and ΔFCF/TA 10.75 > 1.0 |
| NWC/Revenue: 7.17% < 20% (prev 25.56%; Δ -18.39% < -1%) |
| CFO/TA 0.40 > 3% & CFO 1.72b > Net Income 1.44b |
| Net Debt (-181.0m) to EBITDA (1.76b): -0.10 < 3 |
| Current Ratio: 1.74 > 1.5 & < 3 |
| Outstanding Shares: last quarter (246.3m) vs 12m ago 0.0% < -2% |
| Gross Margin: error (current vs previous; cannot be calculated due to missing/invalid data or negative margin) |
| Asset Turnover: 29.32% > 50% (prev 33.10%; Δ -3.79% > 0%) |
| Interest Coverage Ratio: 5.04 > 6 (EBIT TTM 1.57b / Interest Expense TTM 311.2m) |
| A: 0.11 (Total Current Assets 1.08b - Total Current Liabilities 620.0m) / Total Assets 4.27b |
| B: 0.18 (Retained Earnings 785.0m / Total Assets 4.27b) |
| C: 0.07 (EBIT TTM 1.57b / Avg Total Assets 21.8b) |
| D: 0.96 (Book Value of Equity 2.09b / Total Liabilities 2.17b) |
| Altman-Z'' = 2.80 = A |
| DSRI: 2.37 (Receivables 521.0m/447.0m, Revenue 6.39b/13.0b) |
| GMI: 0.60 (GM 60.18% / 100.0%) |
| AQI: 0.22 (AQ_t 0.15 / AQ_t-1 0.70) |
| SGI: 0.49 (Revenue 6.39b / 13.0b) |
| TATA: -0.06 (NI 1.44b - CFO 1.72b) / TA 4.27b) |
| Beneish M = -3.09 (Cap -4..+1) = AA |
As of September 27, 2026, the stock is trading at NOK 131.00 with a total of 115,534 shares traded. Over the past week, the price has changed by -3.53%, over one month by +0.36%, over three months by +15.62% and over the past year by +52.34%.
Current recommended Stop Loss: 126.80 (which is 3.2% or 1.4 ATR below the current price).
DOF ASA has no consensus analysts rating.
Market Cap USD = 3.52b (33.4b NOK * 0.10513 NOK.USD)
P/E Trailing = 7.5824
P/E Forward = 8.0972
P/S = 15.4908
P/B = 1.6945
Revenue TTM = 6.39b USD
EBIT TTM = 1.57b USD
EBITDA TTM = 1.76b USD
Long Term Debt = 1.43b USD (from longTermDebt, last quarter)
Short Term Debt = 128.0m USD (from shortLongTermDebt, last quarter)
Debt = 162.0m USD (Leases only: 162.0m)
Net Debt = -181.0m USD (calculated: Debt 162.0m - CCE 343.0m)
Enterprise Value = 3.34b USD (3.52b + Debt 162.0m - CCE 343.0m)
Interest Coverage Ratio = 5.04 (Ebit TTM 1.57b / Interest Expense TTM 311.2m)
EV/FCF = 6.83x (Enterprise Value 3.34b / FCF TTM 488.0m)
FCF Yield = 14.63% (FCF TTM 488.0m / Enterprise Value 3.34b)
FCF Margin = 7.64% (FCF TTM 488.0m / Revenue TTM 6.39b)
Net Margin = 22.61% (Net Income TTM 1.44b / Revenue TTM 6.39b)
Gross Margin = unknown ((Revenue TTM 6.39b - Cost of Revenue TTM 0.0) / Revenue TTM)
Tobins Q-Ratio = 0.78 (Enterprise Value 3.34b / Total Assets 4.27b)
Interest Expense / Debt = 192.1% (Interest Expense 311.2m / Debt 162.0m)
Taxrate = 4.86% (85.0m / 1.75b)
NOPAT = 1.49b (EBIT 1.57b * (1 - 4.86%))
Current Ratio = 1.74 (Total Current Assets 1.08b / Total Current Liabilities 620.0m)
Debt / Equity = 0.08 (Debt 162.0m / totalStockholderEquity, last quarter 2.09b)
Debt / EBITDA = -0.10 (Net Debt -181.0m / EBITDA 1.76b)
Debt / FCF = -0.37 (Net Debt -181.0m / FCF TTM 488.0m)
Total Stockholder Equity = 6.48b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.63% (Net Income 1.44b / Total Assets 4.27b)
RoE = 22.29% (Net Income TTM 1.44b / Total Stockholder Equity 6.48b)
RoCE = 19.83% (EBIT 1.57b / Capital Employed (Equity 6.48b + L.T.Debt 1.43b))
RoIC = 44.85% (NOPAT 1.49b / Invested Capital 3.33b)
WACC = 7.44% (E(3.52b)/V(3.68b) * Re(7.78%) + (debt cost/tax rate unavailable))
Discount Rate = 7.78% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 87.98 | Cagr: 16.77%
[DCF] Terminal Value 77.97% ; FCFF base≈402.0m ; Y1≈460.8m ; Y5≈678.2m
[DCF] Fair Price = 42.18 (EV 10.2b - Net Debt -181.0m = Equity 10.4b / Shares 246.3m; r=8.35% [WACC [floored]]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: 0.0 | # QB: 0
Revenue Correlation: -20.63 | Revenue CAGR: -5.08% | SUE: 0.02 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.62 | Chg30d=+16.14% | Revisions=+0% | Analysts=3
EPS current Year (2026-12-31): EPS=1.77 | Chg30d=+3.90% | Revisions=+29% | GrowthEPS=-5.8% | GrowthRev=+13.3%
EPS next Year (2027-12-31): EPS=1.81 | Chg30d=+1.83% | Revisions=+17% | GrowthEPS=+2.1% | GrowthRev=-1.8%
[Analyst] Revisions Ratio: +30% (up=5, down=2)