Subsea 7 S.A (SUBC) Fair Value & Analysis
Energy · NO · Market cap 93.3B NOK
Fair value as of: Aug 13, 2026
From 26 valuation models · updated yesterday
Fair value updated Aug 13, 2026, revised from kr 227.98 to kr 224.63 (−1.5%) since Jul 18, 2026. Share price +4.0% over the past month.
A solid business, but screening 34% overvalued on our models.
What matters now
- A high-quality business (quality 72/100), yet the market already pays well above fair value. Quality at a full price, with little margin of safety.
- The price sits above even our optimistic bull case (kr 280.74). The favourable scenario is already priced in.
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 49.07 – kr 351.00 · fair‑value band kr 165.86 – kr 280.74 · the kr 340.80 price screens above the kr 224.63 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
Subsea 7 S.A (SUBC) currently trades at kr 340.80, while our model-based Fair Value estimate is kr 224.63, implying the stock looks roughly 34.1% overvalued today. The Quality Score stands at 72/100 (solid quality), in the Energy 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, Subsea 7 S.A generated revenue of 7.3B NOK at a net margin of 6.7%. Revenue grew 17.0% year over year. It earns a return on equity of 10.9%. Net debt stands at 621M NOK. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 165.86 (bear case) to kr 280.74 (bull case); at kr 340.80, 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 near its 52-week high and 111% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -42% fair-value upside, at -34%, SUBC screens cheaper 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: DCF Models (kr 44.35) versus Asset-Based (kr 9.97). 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 72 · Market factors (momentum, volatility) 84
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
Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide. The company offers subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed …
Full company description
Subsea 7 S.A. delivers offshore projects and services for the energy industry worldwide. The company offers subsea field development products and services, including project management, design and engineering, procurement, fabrication, survey, installation, and commissioning of production facilities on the seabed and the tie-back of its facilities to fixed or floating platforms or to the shore. It also provides remotely operated vehicles and tooling services to support exploration and production activities and to deliver full life-of-field services; procurement and installation of offshore wind turbine foundations and inter-array cables, as well as heavy lifting operations for renewables structures and heavy transportation services; and engineering and advisory services to clients in the oil and gas, renewables, and utilities industries. In addition, the company offers engineering, procurement, installation, and commissioning of subsea oil and gas systems in deep waters; fabrication, installation, extension, and refurbishment of fixed and floating platforms and associated pipelines in shallow water environments; inspection, and repair and maintenance services, management of subsea infrastructure, and remote intervention support; and carbon capture, utilization, and storage services. The company was incorporated in 1993 and is based in Luxembourg, Luxembourg.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Subsea 7 S.A reported revenue of kr 7.1B in FY2025 versus kr 5.0B in FY2021, a compound +9.1%/yr. Reported net income was kr 411M in FY2025, compounding +89.7%/yr from FY2021.
SUBC screens 34% overvalued. Compare with SLB N.V →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Subsea 7 S.A. announces expiration of the Hart-Scott-Rodino Act waiting period
- Subsea7 awarded contract offshore Brunei
- Subsea 7 SA (ACGYF) (Q2 2026) Earnings Call Highlights: Record Backlog and Raised Guidance ...
- Subsea 7 S.A. Announces Second Quarter and Half Year 2026 Results
Peer Group
Oil & Gas Equipment & Services · 192 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 Oil & Gas Equipment & Services 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: 40/100
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 Oil & Gas Equipment & Services stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| SLB N.V SLBN | 836.00 MXN | 488.45 MXN | -42% |
| Baker Hughes Company BKR | $64.28 | $32.40 | -50% |
| TechnipFMC plc FTI | $75.27 | $27.43 | -64% |
| Halliburton Company HAL | $33.29 | $21.50 | -35% |
| Tenaris S.A TS | $53.15 | $45.68 | -14% |
| Yantai Jereh Oilfield Services Group 002353 | ¥144.58 | ¥34.17 | -76% |
| Saipem SpA SPM | €4.56 | €2.72 | -40% |
| China Oilfield Services Limited 601808 | ¥12.02 | ¥12.64 | +5% |
| Gaztransport & Technigaz SA GTT | €202.00 | €95.01 | -53% |
| Kodiak Gas Services, Inc KGS | $62.06 | $13.56 | -78% |
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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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