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HAV Group ASAOB:HAV Stock Report

Market Cap NOK 502.3m
Share Price
NOK 13.95
NOK 172.64
91.9% undervalued intrinsic discount
1Y94.8%
7D-8.2%
1D
Portfolio Value
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HAV Group ASA

OB:HAV Stock Report

Market Cap: NOK 502.3m

HAV Group (HAV) Stock Overview

Through its subsidiaries, provides maritime and marine technology and services in Norway, Europe, and internationally. More details

HAV fundamental analysis
Snowflake Score
Valuation0/6
Future Growth0/6
Past Performance2/6
Financial Health5/6
Dividends0/6

Rewards

Became profitable this year

Risk Analysis

Earnings have declined by 57.7% per year over past 5 years

Highly volatile share price over the past 3 months compared to the Norwegian market

Does not have a meaningful market cap (NOK488M)


HAV Community Fair Values

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HAV Group ASA Competitors

Price History & Performance

Summary of share price highs, lows and changes for HAV Group
Historical stock prices
Current Share PriceNOK 13.95
52 Week HighNOK 18.30
52 Week LowNOK 5.40
Beta1.18
1 Month Change1.45%
3 Month Change21.30%
1 Year Change94.83%
3 Year Change46.53%
5 Year Change-7.37%
Change since IPO-9.42%

Recent News & Updates

Analysis Article • Jan 19

There's No Escaping HAV Group ASA's (OB:HAV) Muted Revenues

You may think that with a price-to-sales (or "P/S") ratio of 0.3x HAV Group ASA ( OB:HAV ) is a stock worth checking...

Recent updates

Analysis Article • Jan 19

There's No Escaping HAV Group ASA's (OB:HAV) Muted Revenues

You may think that with a price-to-sales (or "P/S") ratio of 0.3x HAV Group ASA ( OB:HAV ) is a stock worth checking...
Analysis Article • May 27

HAV Group ASA (OB:HAV) Held Back By Insufficient Growth Even After Shares Climb 26%

Despite an already strong run, HAV Group ASA ( OB:HAV ) shares have been powering on, with a gain of 26% in the last...
Analysis Article • May 21

It's Probably Less Likely That HAV Group ASA's (OB:HAV) CEO Will See A Huge Pay Rise This Year

Key Insights HAV Group will host its Annual General Meeting on 27th of May CEO Gunnar Larsen's total compensation...
Analysis Article • Mar 26

There's No Escaping HAV Group ASA's (OB:HAV) Muted Revenues Despite A 31% Share Price Rise

HAV Group ASA ( OB:HAV ) shares have had a really impressive month, gaining 31% after a shaky period beforehand. Not...
Analysis Article • Mar 10

Does HAV Group (OB:HAV) Have A Healthy Balance Sheet?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Nov 24

Benign Growth For HAV Group ASA (OB:HAV) Underpins Its Share Price

When close to half the companies operating in the Machinery industry in Norway have price-to-sales ratios (or "P/S...
Analysis Article • May 23

HAV Group ASA's (OB:HAV) CEO Will Probably Struggle To See A Pay Rise This Year

Key Insights HAV Group will host its Annual General Meeting on 29th of May CEO Gunnar Larsen's total compensation...
Analysis Article • May 12

HAV Group ASA's (OB:HAV) Shares Lagging The Industry But So Is The Business

When you see that almost half of the companies in the Machinery industry in Norway have price-to-sales ratios (or...
Analysis Article • Mar 17

Is HAV Group (OB:HAV) Using Too Much Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Feb 19

Returns Are Gaining Momentum At HAV Group (OB:HAV)

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article • Jan 20

Even With A 28% Surge, Cautious Investors Are Not Rewarding HAV Group ASA's (OB:HAV) Performance Completely

HAV Group ASA ( OB:HAV ) shares have continued their recent momentum with a 28% gain in the last month alone. Looking...
Analysis Article • Jul 08

It's A Story Of Risk Vs Reward With HAV Group ASA (OB:HAV)

You may think that with a price-to-sales (or "P/S") ratio of 0.6x HAV Group ASA ( OB:HAV ) is a stock worth checking...
Analysis Article • Feb 01

The Trend Of High Returns At HAV Group (OB:HAV) Has Us Very Interested

To find a multi-bagger stock, what are the underlying trends we should look for in a business? Firstly, we'd want to...
Analysis Article • Sep 02

Returns on Capital Paint A Bright Future For HAV Group (OB:HAV)

Finding a business that has the potential to grow substantially is not easy, but it is possible if we look at a few key...
Analysis Article • Mar 14

The Trend Of High Returns At HAV Group (OB:HAV) Has Us Very Interested

What are the early trends we should look for to identify a stock that could multiply in value over the long term...

Shareholder Returns

HAVNO MachineryNO Market
7D-8.2%-3.3%-1.0%
1Y94.8%1.9%16.2%

Return vs Industry: HAV exceeded the Norwegian Machinery industry which returned 1.9% over the past year.

Return vs Market: HAV exceeded the Norwegian Market which returned 16.2% over the past year.

Price Volatility

Is HAV's price volatile compared to industry and market?
HAV volatility
HAV Average Weekly Movement13.4%
Machinery Industry Average Movement8.5%
Market Average Movement5.3%
10% most volatile stocks in NO Market11.4%
10% least volatile stocks in NO Market3.1%

Stable Share Price: HAV's share price has been volatile over the past 3 months compared to the Norwegian market.

Volatility Over Time: HAV's weekly volatility (13%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.

About the Company

FoundedEmployeesCEOWebsite
2020163Gunnar Larsenwww.havgroup.no

HAV Group ASA, through its subsidiaries, provides maritime and marine technology and services in Norway, Europe, and internationally. The company operates through five segments: HAV Design, Norwegian Electric Systems, Norwegian Greentech, HAV Hydrogen, and Other/Elimination. It offers ship design, project engineering, and system packages for offshore, transport, and fishing vessels; and manufactures, installs, and supplies electric, hybrid-electric propulsion, integrated automation, and bridge systems, as well as navigation and communication packages, including switchboards, electromechanical products, and automation and safety systems.

HAV Group ASA Fundamentals Summary

How do HAV Group's earnings and revenue compare to its market cap?
HAV fundamental statistics
Market capNOK 502.25m
Earnings (TTM)NOK 8.25m
Revenue (TTM)NOK 888.26m
59.2x
P/E Ratio
0.5x
P/S Ratio

Is HAV overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
HAV income statement (TTM)
RevenueNOK 888.26m
Cost of RevenueNOK 551.73m
Gross ProfitNOK 336.52m
Other ExpensesNOK 328.28m
EarningsNOK 8.25m

Last Reported Earnings

Mar 31, 2026

Next Earnings Date

Aug 27, 2026

Earnings per share (EPS)0.24
Gross Margin37.89%
Net Profit Margin0.93%
Debt/Equity Ratio0.04%

How did HAV perform over the long term?

See historical performance and comparison

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/06/10 21:09
End of Day Share Price 2026/06/10 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

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.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

HAV Group ASA is covered by 1 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jørgen TorstensenFearnley Securities