Kongsberg Gruppen ASA (KOG) Fair Value & Analysis
Industrials · NO · Market cap 244B NOK
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from kr 106.93 to kr 101.07 (−5.5%) since Jul 19, 2026. Share price +22.4% over the past month.
A solid business, but screening 70% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 225.01). The favourable scenario is already priced in.
- The model range is unusually wide (kr 76.88 to kr 225.01). The outcome hinges heavily on assumptions, so read the point estimate with caution.
- Solid but not exceptional quality (68/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range kr 26.85 – kr 421.22 · fair‑value band kr 76.88 – kr 225.01 · the kr 336.70 price screens above the kr 101.07 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Kongsberg Gruppen ASA (KOG) currently trades at kr 336.70, while our model-based Fair Value estimate is kr 101.07, implying the stock looks roughly 70.0% overvalued today. The Quality Score stands at 68/100 (solid quality), in the Industrials sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, Kongsberg Gruppen ASA generated revenue of 33.5B NOK at a net margin of 22.0%. Revenue grew 27.1% year over year. It earns a return on equity of 20.8%. The balance sheet holds a net cash position of 3.8B NOK. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 76.88 (bear case) to kr 225.01 (bull case); at kr 336.70, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 21% below its 52-week high and 48% above its 52-week low, currently above its 200-day average. For context, the median of 10 Industrials peers we cover trades at -60% fair-value upside, at -70%, KOG screens richer than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Growth Earnings (kr 173.08) versus Asset-Based (kr 17.20). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 69 · Market factors (momentum, volatility) 50
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
About the company
Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions primarily to customers in the defense markets. It operates through Kongsberg Defence & Aerospace, Kongsberg Discovery, and Other segments. The Kongsberg Defence & Aerospace segment provides various systems and services to the defence industry.
Full company description
Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions primarily to customers in the defense markets. It operates through Kongsberg Defence & Aerospace, Kongsberg Discovery, and Other segments. The Kongsberg Defence & Aerospace segment provides various systems and services to the defence industry. It provides air defence and combat systems, sonars, and navigation for marine vessels and submarines, as well as integrated command and control systems; remote control weapon stations for land-based vehicles and marine vessels; remote tower solutions for airports; products for military tactical communication; naval strike and air-to-surface missiles; and components and services to the space industry, as well as port monitoring systems. This segment also offers lightweight composite and titanium components for F-35 combat aircraft, as well as maintenance and lifecycle services for military and civil capabilities. The Kongsberg Discovery segment offers subsea positioning and communication technologies; sustainable management technologies; and technologies that provide its customers with information about position, speed, acceleration, and heading, as well as uncrewed platforms that deliver autonomous underwater and surface vessels for research, defence, and commercial use. The Other segment focuses on digitalization within the oil and gas, and renewable energy markets. It operates primarily in Norway, Europe, North America, South America, Asia, Australia, and Africa. The company's distribution channels, including direct sales, partnerships and alliances, online platforms, marketing advanced technology. Kongsberg Gruppen ASA was founded in 1814 and is headquartered in Kongsberg, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Kongsberg Gruppen ASA reported revenue of kr 31.6B in FY2025 versus kr 27.4B in FY2021, a compound +3.6%/yr. Reported net income was kr 8.0B in FY2025, compounding +38.5%/yr from FY2021.
of which total revenue +6.8 pp · buybacks/dilution −3.0 pp
Absolute contributions in percentage points per year; they sum to the EPS growth rate. Start and end points are 3-year averages (details on hover).
KOG screens 70% overvalued. Compare with General Electric Company →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Oceaneering International (OII) Joins Kongsberg On U.S. Navy XLUUV Program
- Kongsberg Gruppen ASA (NSKFF) Q2 2026 Earnings Call Highlights: Record Revenue and Strategic ...
- Malaysia seeks $251 million from Kongsberg after Norway scuttles missile deal
Peer Group
Aerospace & Defense · 225 stocks
How this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.
Valuation Multiples vs Aerospace & Defense median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
VALUE 0: the price sits above our fair-value range.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.
Similar stocks
10 more Aerospace & Defense stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| General Electric Company GE | $365.33 | $116.71 | -68% |
| RTX Corporation RTX | $222.76 | $88.37 | -60% |
| Airbus SE 1AIR | €213.05 | €86.20 | -60% |
| The Boeing Company BA | $231.20 | $49.09 | -79% |
| China CSSC Holdings 600150 | ¥33.89 | ¥21.90 | -35% |
| HD Hyundai Heavy Industries Co 329180 | 496,000 KRW | 272,966 KRW | -45% |
| Hanwha Aerospace Co 012450 | 1,156,000 KRW | 573,468 KRW | -50% |
| ASELSAN Elektronik Sanayi ve Ticaret Anonim Sirketi ASELS | 346.75 TRY | 130.70 TRY | -62% |
| Saab AB SAABB | kr 680.10 | kr 212.84 | -69% |
| HD Korea Shipbuilding & Offshore Engineering Co 009540 | 371,500 KRW | 643,950 KRW | +73% |
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Frequently asked questions
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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