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AKVA

AKVA group OB:AKVA Stock Report

Last Price

kr70.60

Market Cap

kr2.6b

7D

6.0%

1Y

-11.8%

Updated

12 Aug, 2022

Data

Company Financials +
AKVA fundamental analysis
Snowflake Score
Valuation2/6
Future Growth4/6
Past Performance0/6
Financial Health3/6
Dividends0/6

AKVA Stock Overview

AKVA group ASA designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry.

AKVA group Competitors

Price History & Performance

Summary of all time highs, changes and price drops for AKVA group
Historical stock prices
Current Share Pricekr70.60
52 Week Highkr95.40
52 Week Lowkr59.00
Beta0.87
1 Month Change10.31%
3 Month Change-17.72%
1 Year Change-11.75%
3 Year Change-7.35%
5 Year Change-12.84%
Change since IPO101.71%

Recent News & Updates

Shareholder Returns

AKVANO MachineryNO Market
7D6.0%-8.0%1.3%
1Y-11.8%-15.7%9.3%

Return vs Industry: AKVA exceeded the Norwegian Machinery industry which returned -15.3% over the past year.

Return vs Market: AKVA underperformed the Norwegian Market which returned 9.8% over the past year.

Price Volatility

Is AKVA's price volatile compared to industry and market?
AKVA volatility
AKVA Average Weekly Movement6.5%
Machinery Industry Average Movement7.9%
Market Average Movement6.7%
10% most volatile stocks in NO Market12.4%
10% least volatile stocks in NO Market3.7%

Stable Share Price: AKVA is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 6% a week.

Volatility Over Time: AKVA's weekly volatility (6%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
19821,453Knut Nessehttps://www.akvagroup.com

AKVA group ASA designs, purchases, manufactures, assembles, sells, and installs technology products; and provides rental and consulting services for the aquaculture industry. The company operates through three segments: Sea Based Technology (SBT), Digital, and Land Based Technology. The SBT segment offers plastic cages, steel cages, feed barges, feed systems, sensor and camera systems, biomass estimation systems, underwater lights, net cleaning systems, and nets and mooring systems under the Polarcirkel, Wavemaster, and Akvasmart hardware brands.

AKVA group Fundamentals Summary

How do AKVA group's earnings and revenue compare to its market cap?
AKVA fundamental statistics
Market Capkr2.57b
Earnings (TTM)kr18.87m
Revenue (TTM)kr3.33b

136.1x

P/E Ratio

0.8x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
AKVA income statement (TTM)
Revenuekr3.33b
Cost of Revenuekr2.08b
Gross Profitkr1.24b
Other Expenseskr1.22b
Earningskr18.87m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Aug 12, 2022

Earnings per share (EPS)0.52
Gross Margin37.31%
Net Profit Margin0.57%
Debt/Equity Ratio59.8%

How did AKVA perform over the long term?

See historical performance and comparison

Dividends

1.4%

Current Dividend Yield

188%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

Is AKVA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

Which metric is best to use when looking at relative valuation for AKVA?

Other financial metrics that can be useful for relative valuation.

AKVA key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue1.1x
Enterprise Value/EBITDA20.5x
PEG Ratio2.8x

Price to Earnings Ratio vs Peers

How does AKVA's PE Ratio compare to its peers?

AKVA PE Ratio vs Peers
The above table shows the PE ratio for AKVA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average21.4x
BMA Byggma
10.5xn/akr2.1b
SCANA Scana
59.2xn/akr605.1m
HAV HAV Group
7.9x-4.5%kr453.0m
NKR Nekkar
8xn/akr878.7m
AKVA AKVA group
136.1x49.0%kr2.6b

Price-To-Earnings vs Peers: AKVA is expensive based on its Price-To-Earnings Ratio (136.1x) compared to the peer average (21.4x).


Price to Earnings Ratio vs Industry

How does AKVA's PE Ratio compare vs other companies in the European Machinery Industry?

Price-To-Earnings vs Industry: AKVA is expensive based on its Price-To-Earnings Ratio (136.1x) compared to the Norwegian Machinery industry average (7.9x)


Price to Earnings Ratio vs Fair Ratio

What is AKVA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

AKVA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio136.1x
Fair PE Ratio43x

Price-To-Earnings vs Fair Ratio: AKVA is expensive based on its Price-To-Earnings Ratio (136.1x) compared to the estimated Fair Price-To-Earnings Ratio (43x).


Share Price vs Fair Value

What is the Fair Price of AKVA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AKVA (NOK70.6) is trading below our estimate of fair value (NOK195.34)

Significantly Below Fair Value: AKVA is trading below fair value by more than 20%.


Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.


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Future Growth

How is AKVA group forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

4/6

Future Growth Score 4/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


49.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: AKVA's forecast earnings growth (49% per year) is above the savings rate (1.1%).

Earnings vs Market: AKVA's earnings (49% per year) are forecast to grow faster than the Norwegian market (0.2% per year).

High Growth Earnings: AKVA's earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: AKVA's revenue (5.2% per year) is forecast to grow faster than the Norwegian market (-1% per year).

High Growth Revenue: AKVA's revenue (5.2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: AKVA's Return on Equity is forecast to be low in 3 years time (15.4%).


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Past Performance

How has AKVA group performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-24.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: AKVA has a large one-off loss of NOK28.3M impacting its June 30 2022 financial results.

Growing Profit Margin: AKVA's current net profit margins (0.6%) are lower than last year (1.1%).


Past Earnings Growth Analysis

Earnings Trend: AKVA's earnings have declined by 24.4% per year over the past 5 years.

Accelerating Growth: AKVA's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: AKVA had negative earnings growth (-45.7%) over the past year, making it difficult to compare to the Machinery industry average (33.6%).


Return on Equity

High ROE: AKVA's Return on Equity (1.5%) is considered low.


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Financial Health

How is AKVA group's financial position?

Financial Health Score

3/6

Financial Health Score 3/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: AKVA's short term assets (NOK1.5B) exceed its short term liabilities (NOK1.1B).

Long Term Liabilities: AKVA's short term assets (NOK1.5B) exceed its long term liabilities (NOK1.2B).


Debt to Equity History and Analysis

Debt Level: AKVA's net debt to equity ratio (49%) is considered high.

Reducing Debt: AKVA's debt to equity ratio has reduced from 86.9% to 59.8% over the past 5 years.

Debt Coverage: AKVA's debt is not well covered by operating cash flow (17.7%).

Interest Coverage: AKVA's interest payments on its debt are not well covered by EBIT (1.7x coverage).


Balance Sheet


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Dividend

What is AKVA group current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


1.42%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: AKVA's dividend (1.42%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (2.64%).

High Dividend: AKVA's dividend (1.42%) is low compared to the top 25% of dividend payers in the Norwegian market (6.78%).


Stability and Growth of Payments

Stable Dividend: AKVA has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: AKVA has only been paying a dividend for 8 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its high payout ratio (188.2%), AKVA's dividend payments are not well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its high cash payout ratio (2718.5%), AKVA's dividend payments are not well covered by cash flows.


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Management

How experienced are the management team and are they aligned to shareholders interests?

1.0yrs

Average management tenure


CEO

Knut Nesse (55 yo)

2.75yrs

Tenure

kr2,976,000

Compensation

Mr. Knut Nesse served as a Member of the Board at Nordic Halibut AS until 2022. He is Chairman of the Board at Desert Control As. He serves as Chief Executive Officer of AKVA Group ASA since December 5, 20...


CEO Compensation Analysis

Compensation vs Market: Knut's total compensation ($USD310.48K) is below average for companies of similar size in the Norwegian market ($USD466.78K).

Compensation vs Earnings: Knut's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: AKVA's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

Experienced Board: AKVA's board of directors are not considered experienced ( 1.8 years average tenure), which suggests a new board.


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 10.3%.


Top Shareholders

Company Information

AKVA group ASA's employee growth, exchange listings and data sources


Key Information

  • Name: AKVA group ASA
  • Ticker: AKVA
  • Exchange: OB
  • Founded: 1982
  • Industry: Agricultural and Farm Machinery
  • Sector: Capital Goods
  • Implied Market Cap: kr2.568b
  • Shares outstanding: 36.37m
  • Website: https://www.akvagroup.com

Number of Employees


Location

  • AKVA group ASA
  • Plogfabrikkvegen 11
  • Klepp Stasjon
  • Rogaland
  • 4353
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/12 00:00
End of Day Share Price2022/08/12 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.