OB:KOG

Stock Analysis Report

NOT FOR DISTRIBUTION
Header cover image

Executive Summary

Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions to customers in deep-sea, digital, defense, merchant marine, oil and gas, fisheries, aerospace, and space industries. More Details


Snowflake Analysis

Solid track record with excellent balance sheet and pays a dividend.


Similar Companies

Share Price & News

How has Kongsberg Gruppen's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: KOG is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: KOG's weekly volatility (4%) has been stable over the past year.


Market Performance


7 Day Return

0.1%

KOG

1.4%

NO Aerospace & Defense

2.8%

NO Market


1 Year Return

14.0%

KOG

-4.8%

NO Aerospace & Defense

26.1%

NO Market

Return vs Industry: KOG exceeded the Norwegian Aerospace & Defense industry which returned -4.8% over the past year.

Return vs Market: KOG underperformed the Norwegian Market which returned 26.2% over the past year.


Shareholder returns

KOGIndustryMarket
7 Day0.1%1.4%2.8%
30 Day3.9%2.5%2.7%
90 Day5.5%-1.5%12.7%
1 Year23.9%14.0%-4.1%-4.8%31.0%26.1%
3 Year33.7%2.4%2.7%-2.3%19.4%5.5%
5 Year87.3%35.3%51.3%37.9%78.8%44.1%

Long-Term Price Volatility Vs. Market

How volatile is Kongsberg Gruppen's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Kongsberg Gruppen undervalued compared to its fair value and its price relative to the market?

44.3%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: KOG (NOK177.2) is trading below our estimate of fair value (NOK318.38)

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


Price To Earnings Ratio

PE vs Industry: KOG is poor value based on its PE Ratio (22.1x) compared to the XE Aerospace & Defense industry average (18.4x).

PE vs Market: KOG is poor value based on its PE Ratio (22.1x) compared to the Norwegian market (14.7x).


Price to Earnings Growth Ratio

PEG Ratio: KOG is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: KOG is overvalued based on its PB Ratio (2.4x) compared to the XE Aerospace & Defense industry average (1.9x).


Next Steps

Future Growth

How is Kongsberg Gruppen forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

16.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: KOG's forecast earnings growth (16.9% per year) is above the savings rate (1.4%).

Earnings vs Market: KOG's earnings (16.9% per year) are forecast to grow slower than the Norwegian market (26.6% per year).

High Growth Earnings: KOG's earnings are forecast to grow, but not significantly.

Revenue vs Market: KOG's revenue (7% per year) is forecast to grow slower than the Norwegian market (7.3% per year).

High Growth Revenue: KOG's revenue (7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: KOG's Return on Equity is forecast to be low in 3 years time (16.7%).


Next Steps

Past Performance

How has Kongsberg Gruppen performed over the past 5 years?

13.6%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: KOG has high quality earnings.

Growing Profit Margin: KOG's current net profit margins (5.6%) are higher than last year (2.9%).


Past Earnings Growth Analysis

Earnings Trend: KOG's earnings have grown by 13.6% per year over the past 5 years.

Accelerating Growth: KOG's earnings growth over the past year (105.6%) exceeds its 5-year average (13.6% per year).

Earnings vs Industry: KOG earnings growth over the past year (105.6%) exceeded the Aerospace & Defense industry -14.1%.


Return on Equity

High ROE: KOG's Return on Equity (11.1%) is considered low.


Next Steps

Financial Health

How is Kongsberg Gruppen's financial position?


Financial Position Analysis

Short Term Liabilities: KOG's short term assets (NOK24.6B) exceed its short term liabilities (NOK19.9B).

Long Term Liabilities: KOG's short term assets (NOK24.6B) exceed its long term liabilities (NOK6.2B).


Debt to Equity History and Analysis

Debt Level: KOG's debt to equity ratio (26.1%) is considered satisfactory.

Reducing Debt: KOG's debt to equity ratio has increased from 14.2% to 26.1% over the past 5 years.

Debt Coverage: KOG's debt is well covered by operating cash flow (80.9%).

Interest Coverage: KOG's interest payments on its debt are well covered by EBIT (8.6x coverage).


Balance Sheet


Next Steps

Dividend

What is Kongsberg Gruppen current dividend yield, its reliability and sustainability?

4.51%

Current Dividend Yield


Upcoming Dividend Payment


Dividend Yield vs Market

Notable Dividend: KOG's dividend (4.51%) is higher than the bottom 25% of dividend payers in the Norwegian market (1.91%).

High Dividend: KOG's dividend (4.51%) is low compared to the top 25% of dividend payers in the Norwegian market (5.24%).


Stability and Growth of Payments

Stable Dividend: KOG's dividend payments have been volatile in the past 10 years.

Growing Dividend: KOG's dividend payments have increased over the past 10 years.


Current Payout to Shareholders

Dividend Coverage: With its reasonably low payout ratio (37.5%), KOG's dividend payments are well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: KOG's dividends in 3 years are forecast to be covered by earnings (75.5% payout ratio).


Next Steps

Management

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

4.6yrs

Average management tenure


CEO

Geir Haoy (54 yo)

4.75yrs

Tenure

kr10,383,000

Compensation

Mr. Geir Haoy has been the Chief Executive Officer and President of Kongsberg Gruppen ASA since June, 2016. Mr. Haoy has been the Chief Executive Officer of Kongsberg Maritime AS since June 6, 2016. He ser...


CEO Compensation Analysis

Compensation vs Market: Geir's total compensation ($USD1.21M) is above average for companies of similar size in the Norwegian market ($USD621.10K).

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


Leadership Team

NamePositionTenureCompensationOwnership
Geir Haoy
President & CEO4.75yrskr10.38m0.020%
NOK 6.4m
Gyrid Ingerø
CFO and Executive VP of Legal3.33yrskr4.49m0.0093%
NOK 2.9m
Hans Blokkum
Group EVP3yrskr3.88m0.016%
NOK 5.0m
Eirik Lie
Executive VP and President of Kongsberg Defense & Aerospace4.58yrskr5.31m0.0082%
NOK 2.6m
Even Aas
Group Executive Vice President of Public Affairsno datakr6.17m0.0012%
NOK 381.4k
Egil Haugsdal
Executive VP & President of Kongsberg Maritime5.58yrskr6.97m0.00079%
NOK 251.1k
Hege Skryseth
Executive VP & President of Kongsberg Digital4.67yrskr4.72m0.00049%
NOK 155.7k
Kristin Barkost
Vice President of Accounting11.17yrsno datano data
Jan Erik Hoff
Group Vice President of Investor Relationsno datano data0.0031%
NOK 972.6k
Lene Svenne
Corporate Compliance Officerno datano datano data
Christian Karde
Group Executive VP & General Counsel0.50yrno data0.00061%
NOK 193.9k
Ronny Lie
Chief Communication Officerno datano data0.0026%
NOK 823.2k

4.6yrs

Average Tenure

58yo

Average Age

Experienced Management: KOG's management team is considered experienced (4.6 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Eivind Reiten
Independent Chairman3.92yrskr581.63k0.0016%
NOK 505.3k
Helge Lintvedt
Employee Representative Director11.83yrskr330.17kno data
Marthe Kold Bakkevig
Independent Director3.92yrskr320.07kno data
Morten Henriksen
Independent Director7.83yrskr343.07k0.0017%
NOK 537.1k
Elisabeth Fossan
Employee Representative Director3.92yrskr306.27k0.0031%
NOK 985.3k
Anne-Grete Strom-Erichsen
Independent Deputy Chairno datakr315.27k0.0011%
NOK 352.8k
Sigmund Bakke
Employee Representative Director3.92yrskr268.67k0.0069%
NOK 2.2m
Ole Magnus Svarva
Deputy Directorno datano datano data
Per Sørlie
Director1.83yrskr213.20k0.0019%
NOK 603.9k

3.9yrs

Average Tenure

63yo

Average Age

Experienced Board: KOG's board of directors are considered experienced (3.9 years average tenure).


Ownership

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


Insider Trading Volume

Insider Buying: KOG insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Kongsberg Gruppen ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Kongsberg Gruppen ASA
  • Ticker: KOG
  • Exchange: OB
  • Founded: 1814
  • Industry: Aerospace and Defense
  • Sector: Capital Goods
  • Market Cap: kr31.783b
  • Shares outstanding: 179.36m
  • Website: https://www.kongsberg.com

Number of Employees


Location

  • Kongsberg Gruppen ASA
  • Kirkegårdsveien 45
  • Kongsberg
  • Buskerud
  • 3616
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
KOGOB (Oslo Bors)YesClass A SharesNONOKDec 1993
0F08LSE (London Stock Exchange)YesClass A SharesGBNOKDec 1993
NSKF.FOTCPK (Pink Sheets LLC)YesClass A SharesUSUSDDec 1993
KOZDB (Deutsche Boerse AG)YesClass A SharesDEEURDec 1993
KOGOBATS-CHIXE (BATS 'Chi-X Europe')YesClass A SharesGBNOKDec 1993

Biography

Kongsberg Gruppen ASA, together with its subsidiaries, provides high-tech systems and solutions to customers in deep-sea, digital, defense, merchant marine, oil and gas, fisheries, aerospace, and space ind...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/03/07 17:21
End of Day Share Price2021/03/05 00:00
Earnings2020/12/31
Annual Earnings2020/12/31


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.