AKSO — Aker Solutions ASAEnergy · Oil & Gas Equipment & ServicesOSL

NOK 20.5B

Mkt Cap

NOK 20.0B

Ent. Value

NOK 580.0M

Net Cash

NOK 42.28

52W NOK 26 – NOK 48

NOK 20.5B

Mkt Cap

NOK 20.0B

Ent. Value

NOK 580.0M

Net Cash

8.0×

P/E TTM

0.27

PEG

9.7×

P/FCF

1.8×

P/Book

0.3×

P/Sales

4.1×

EV/EBITDA

7.7×

EV/EBIT

9.4×

EV/FCF

0.3×

EV/Sales

12.4%

Earn Yld

10.3%

FCF Yld

8.5%

Div Yld

NOK 42.28

All values in Norwegian Krone (NOK)

NOK	FY2025	FY2024	FY2023	FY2022
Revenue	62.20B	52.20B	35.88B	27.30B
YoY Growth	+19.2%	+45.5%	+31.4%	—
Gross Profit	20.81B	18.58B	35.39B	11.67B
Gross Margin	33.5%	35.6%	98.6%	42.7%
R&D	—	—	—	—
SG&A	863.00M	735.00M	716.00M	608.00M
EBIT	2.58B	2.41B	291.00M	(119.00M)
EBIT Margin	4.1%	4.6%	0.8%	-0.4%
D&A	1.46B	—	1.36B	1.08B
EBITDA	4.92B	4.78B	291.00M	1.32B
EBITDA Margin	7.9%	9.2%	0.8%	4.8%
Net Income	2.55B	2.66B	11.64B	1.18B
Net Margin	4.1%	5.1%	32.4%	4.3%
EPS (diluted)	NOK 5.28	—	NOK 23.81	NOK 2.42
Shares (dil., M)	482	482	489	487

Company Brief

Aker Solutions ASA provides solutions, products, systems, and services to the oil and gas industry in Norway, the United States, Brazil, the United Kingdom, Malaysia, Angola, Brunei, Canada, India, and internationally. The company operates in two segments, Renewables and Field Development; and Life Cycle. It offers field planning, feasibility, and concept studies; specialist engineering, project management, and procurement services; floater designs, offshore wind, as well as engages in design, delivery, and construction of oil and gas production, and receiving and processing facilities. The company provides carbon capture, utilization and storage, hydropower, and offshore wind solutions. Further, it designs and constructs jackets for construction services and offers electrification services; and designs and constructs offshore oil and gas production facilities and onshore receiving and processing facilities. Additionally, the company provides maintenance, modifications, decommissioning, asset integrity management, hook-up, and completion solutions. The company was founded in 1841 and is headquartered in Fornebu, Norway.

CEOMr. Kjetel Rokseth DigreEmployees11,818IPO Date2004-04-02CountryNorwayWebsiteakersolutions.com

Margins (TTM)

Gross Margin	33.5%
EBITDA Margin	7.9%
EBIT Margin	4.1%
Net Margin	4.1%
FCF Margin	3.4%

Returns on Capital

ROIC	14.0%
ROCE	16.7%
ROE	22.4%
ROA	6.6%
Asset Turnover	1.62×

Earnings Quality

FCF / Net Income	83.1%
SBC / Net Income	—
SBC / Revenue	—
Capex / D&A	0.34×

Growth (CAGR)

Metric	3yr
Revenue	31.6%
EPS	29.7%
FCF	-18.4%
Dividend	—

Ownership

Float	47.6%
Shares Out.	485.7M
Insiders %	—
Institutions %	—
Institutions (of float)	—
Institution holders	—
Insider net buy 6M	—

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Balance Sheet

Cash & ST Invest.	NOK 5.7B
Total Debt	NOK 3.1B
Net Cash / (Debt)	NOK 580.0M
Total Assets	NOK 38.4B
Total Equity	NOK 11.4B
Goodwill & Intang.	NOK 3.4B
Tangible Book Value	NOK 7.9B
NCAV (Graham)	-NOK 5.4B
Tangible Book/sh	NOK 16.37
NCAV/sh	-NOK 11.20

Leverage

D/E Ratio	0.28×
Net Debt / EBITDA	-0.12×
Interest Coverage	10.22×
Current Ratio	0.94×
Quick Ratio	0.94×

Capital Allocation (last FY)

Capex	NOK 498.0M
Capex / Revenue	0.8%
SBC	—
Dividends Paid	NOK 1.6B
Buybacks	—

Dividends

Annual DPS	NOK 3.60
Yield (fwd)	8.51%
Payout Ratio	62.5%
Ex-div Date	2026-04-17

Valuation vs History

P/E vs 4Y	8.0×vs 8.6× median
Div yield vs 10Y	854.0%vs 1.5% median

Buyback History

FY 2025—+1.0%

FY 2024NOK 501.0M-2.1%

FY 2023—+0.3%

FY 2022——

Margins (TTM)

Gross Margin	33.5%
EBITDA Margin	7.9%
EBIT Margin	4.1%
Net Margin	4.1%
FCF Margin	3.4%

Returns on Capital

ROIC	14.0%
ROCE	16.7%
ROE	22.4%
ROA	6.6%
Asset Turnover	1.62×

Earnings Quality

FCF / Net Income	83.1%
SBC / Net Income	—
SBC / Revenue	—
Capex / D&A	0.34×

Growth (CAGR)

Metric	3yr
Revenue	31.6%
EPS	29.7%
FCF	-18.4%
Dividend	—

Ownership

Float	47.6%
Shares Out.	485.7M
Insiders %	—
Institutions %	—
Institutions (of float)	—
Institution holders	—
Insider net buy 6M	—

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NOK 42.28

All values in Norwegian Krone (NOK)

NOK	FY2025	FY2024	FY2023	FY2022
Revenue	62.20B	52.20B	35.88B	27.30B
YoY Growth	+19.2%	+45.5%	+31.4%	—
Gross Profit	20.81B	18.58B	35.39B	11.67B
Gross Margin	33.5%	35.6%	98.6%	42.7%
R&D	—	—	—	—
SG&A	863.00M	735.00M	716.00M	608.00M
EBIT	2.58B	2.41B	291.00M	(119.00M)
EBIT Margin	4.1%	4.6%	0.8%	-0.4%
D&A	1.46B	—	1.36B	1.08B
EBITDA	4.92B	4.78B	291.00M	1.32B
EBITDA Margin	7.9%	9.2%	0.8%	4.8%
Net Income	2.55B	2.66B	11.64B	1.18B
Net Margin	4.1%	5.1%	32.4%	4.3%
EPS (diluted)	NOK 5.28	—	NOK 23.81	NOK 2.42
Shares (dil., M)	482	482	489	487

Company Brief

CEOMr. Kjetel Rokseth DigreEmployees11,818IPO Date2004-04-02CountryNorwayWebsiteakersolutions.com

Balance Sheet

Cash & ST Invest.	NOK 5.7B
Total Debt	NOK 3.1B
Net Cash / (Debt)	NOK 580.0M
Total Assets	NOK 38.4B
Total Equity	NOK 11.4B
Goodwill & Intang.	NOK 3.4B
Tangible Book Value	NOK 7.9B
NCAV (Graham)	-NOK 5.4B
Tangible Book/sh	NOK 16.37
NCAV/sh	-NOK 11.20

Leverage

D/E Ratio	0.28×
Net Debt / EBITDA	-0.12×
Interest Coverage	10.22×
Current Ratio	0.94×
Quick Ratio	0.94×

Capital Allocation (last FY)

Capex	NOK 498.0M
Capex / Revenue	0.8%
SBC	—
Dividends Paid	NOK 1.6B
Buybacks	—

Dividends

Annual DPS	NOK 3.60
Yield (fwd)	8.51%
Payout Ratio	62.5%
Ex-div Date	2026-04-17

Valuation vs History

P/E vs 4Y	8.0×vs 8.6× median
Div yield vs 10Y	854.0%vs 1.5% median

Buyback History

FY 2025—+1.0%

FY 2024NOK 501.0M-2.1%

FY 2023—+0.3%

FY 2022——

Not investment adviceUpdated 4/17/2026