DNO Future Growth

Future criteria checks 6/6

DNO is forecast to grow earnings and revenue by 97.5% and 28.8% per annum respectively. EPS is expected to grow by 97.7% per annum. Return on equity is forecast to be 20.9% in 3 years.

Key information

97.5%

Earnings growth rate

97.71%

EPS growth rate

Oil and Gas earnings growth	10.1%
Revenue growth rate	28.8%
Future return on equity	20.94%
Analyst coverage	Low
Last updated	10 Nov 2025

Recent future growth updates

Recent updates

Growth Investors: Industry Analysts Just Upgraded Their DNO ASA (OB:DNO) Revenue Forecasts By 13%

May 16

Earnings and Revenue Growth Forecasts

OB:DNO - Analysts future estimates and past financials data (USD Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2027	2,392	362	304	1,114	3
12/31/2026	2,331	312	283	1,149	3
12/31/2025	1,559	47	-149	656	3
9/30/2025	1,169	-102	-21	521	N/A
6/30/2025	793	-91	-126	297	N/A
3/31/2025	672	-47	-22	409	N/A
12/31/2024	667	-27	41	413	N/A
9/30/2024	689	75	92	436	N/A
6/30/2024	660	1	74	386	N/A
3/31/2024	581	-52	-82	182	N/A
12/31/2023	668	19	-89	194	N/A
9/30/2023	806	57	35	337	N/A
6/30/2023	1,004	241	221	547	N/A
3/31/2023	1,307	332	549	916	N/A
12/31/2022	1,377	385	682	1,056	N/A
9/30/2022	1,435	407	771	1,128	N/A
6/30/2022	1,350	309	680	1,040	N/A
3/31/2022	1,174	293	605	912	N/A
12/31/2021	1,004	204	453	729	N/A
9/30/2021	782	79	417	691	N/A
6/30/2021	691	-75	317	523	N/A
3/31/2021	579	-195	212	391	N/A
12/31/2020	615	-286	181	406	N/A
9/30/2020	715	-175	-54	185	N/A
6/30/2020	779	-149	66	386	N/A
3/31/2020	973	-17	17	400	N/A
12/31/2019	971	74	-7	372	N/A
9/30/2019	1,066	253	140	483	N/A
6/30/2019	1,010	413	N/A	399	N/A
3/31/2019	891	387	N/A	430	N/A
12/31/2018	829	354	N/A	471	N/A
9/30/2018	577	155	N/A	391	N/A
6/30/2018	478	554	N/A	303	N/A
3/31/2018	413	499	N/A	292	N/A
12/31/2017	347	495	N/A	337	N/A
9/30/2017	274	433	N/A	263	N/A
6/30/2017	249	-33	N/A	253	N/A
3/31/2017	229	-16	N/A	167	N/A
12/31/2016	202	-35	N/A	62	N/A
9/30/2016	214	-87	N/A	42	N/A
6/30/2016	217	-99	N/A	-8	N/A
3/31/2016	211	-143	N/A	-49	N/A
12/31/2015	187	-212	N/A	-74	N/A
9/30/2015	213	-381	N/A	-58	N/A
6/30/2015	277	-408	N/A	-11	N/A
3/31/2015	365	-324	N/A	99	N/A
12/31/2014	452	-226	N/A	181	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: DNO is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3%).

Earnings vs Market: DNO is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: DNO is expected to become profitable in the next 3 years.

Revenue vs Market: DNO's revenue (28.8% per year) is forecast to grow faster than the Norwegian market (2.3% per year).

High Growth Revenue: DNO's revenue (28.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: DNO's Return on Equity is forecast to be high in 3 years time (20.9%)

Discover growth companies

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/12/27 14:53
End of Day Share Price	2025/12/23 00:00
Earnings	2025/09/30
Annual Earnings	2024/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

DNO ASA is covered by 21 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Rafal Gutaj	BofA Global Research
Charlie Sharp	Canaccord Genuity

DNO Future Growth

Future criteria checks 6/6

Key information

Recent future growth updates

Price target increased by 8.8% to kr18.50

Price target increased by 13% to kr18.17

Trym Reboot Boosts North Sea Output

Consensus EPS estimates fall by 23%

Consensus EPS estimates fall by 13%

DNO ASA Announces Kurdistan Operations Recover Rapidly from Torrential Flooding

Recent updates

DNO ASA, Annual General Meeting, Jun 04, 2026

DNO ASA to Report First Half, 2026 Results on Aug 13, 2026

ORLEN Upstream Norway AS agreed to acquire 7.60% stake in Ekofisk Previously Produced Fields (PPF) project in license PL018B and PL018F in Norway from DNO ASA (OB:DNO).

Price target increased by 8.8% to kr18.50

Third quarter 2025 earnings: EPS misses analyst expectations

Third quarter dividend of kr0.38 announced

DNA ASA Proposes Dividend, Payable on or About 24 November 2025

Price target increased by 13% to kr18.17

Less than half of directors are independent

DNO ASA Announces Chief Financial Officer Changes

DNO ASA Approves Quarterly Cash Dividend, Payable on or About 8 September 2025

DNO ASA (OB:DNO) completed the acquisition of Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others.

DNO ASA Approves Board Appointments

First quarter dividend of kr0.31 announced

First quarter 2025 earnings released: US$0.004 loss per share (vs US$0.017 profit in 1Q 2024)

Full year 2024 earnings: EPS and revenues miss analyst expectations

Insider recently bought kr134k worth of stock

DNO ASA Announces Oil and Gas Discovery in Northern North Sea License Pl1182 S

DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt

Less than half of directors are independent

DNO ASA (OB:DNO) reached agreement to acquire Sval Energi Group AS from HitecVision AS (OTCNO:HITV) and others for an enterprise value of $1.6 billion.

Reopening The Iraqi-Turkish Pipeline Will Increase Future Production Levels

DNO ASA Approves Cash Dividend, Payable on or About 21 February 2025

Trym Reboot Boosts North Sea Output

DNO ASA to Report Fiscal Year 2024 Results on Apr 03, 2025

Consensus EPS estimates fall by 23%

New minor risk - Earnings quality

Third quarter dividend of kr0.31 announced

Third quarter 2024 earnings: EPS and revenues miss analyst expectations

DNO Asa Approves Dividend, Payable on or About 22 November 2024

DNO (OB:DNO) Could Be Struggling To Allocate Capital

What You Can Learn From DNO ASA's (OB:DNO) P/S

Consensus EPS estimates fall by 13%

We Think You Can Look Beyond DNO's (OB:DNO) Lackluster Earnings

DNO (OB:DNO) Is Increasing Its Dividend To $0.3125

Second quarter dividend of kr0.31 announced

Second quarter 2024 earnings: EPS exceeds analyst expectations while revenues lag behind

DNO ASA Approves Dividend, Payable on or About 30 August 2024

Less than half of directors are independent

DNO ASA Racks Up Discoveries in Its Offshore Norway Core Area

DNO ASA Approves Dividend, Payable on or About 28 May 2024

DNO ASA Announces Kurdistan Operations Recover Rapidly from Torrential Flooding

DNO ASA Announces Completion of an Appraisal Well and Sidetrack

Full year 2023 earnings: EPS and revenues exceed analyst expectations

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

Consensus EPS estimates increase from loss to US$0.01 profit, revenue downgraded

Consensus revenue estimates fall by 22%

Price target decreased by 7.3% to kr14.38

DNO ASA (OB:DNO) Analysts Are More Bearish Than They Used To Be

Full year 2023 earnings: EPS and revenues exceed analyst expectations

DNO ASA Approves Dividend, Payable on or About 26 February 2024

DNO (OB:DNO) Takes On Some Risk With Its Use Of Debt

Consensus EPS estimates fall by 37%

Less than half of directors are independent

DNO ASA to Report Q4, 2023 Results on Feb 08, 2024

DNO ASA Announces Successful Completion of the Second Appraisal Well on the Bergknapp/re Discovery in License PL836S in the Norwegian Sea

DNO Announces Successful Ofelia Appraisal and New Kyrre Discovery

DNO ASA Approves Dividend, Payable on or About 24 November 2023

DNO ASA Reopens Production At Tawke PSC

DNO Makes Play-Opening Discovery at Norma

DNO ASA Announces Managing Director Changes

DNO ASA Announces Update on Tawke PSC

Second quarter 2023 earnings: EPS and revenues miss analyst expectations

DNO ASA Approves Dividend Payment, o Be Made on or About 1 September 2023

Here's Why DNO (OB:DNO) Has Caught The Eye Of Investors

DNO ASA Announces Gas and Condensate Discovery on the Carmen Prospect in the Norwegian North Sea License PL1148

Some Investors May Be Worried About DNO's (OB:DNO) Returns On Capital

Price target decreased by 9.3% to kr16.67

An Intrinsic Calculation For DNO ASA (OB:DNO) Suggests It's 47% Undervalued