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Kongsberg Gruppen

OB:KOG
Snowflake Description

Excellent balance sheet and good value.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
KOG
OB
NOK25B
Market Cap
  1. Home
  2. NO
  3. Capital Goods
Company description

Kongsberg Gruppen ASA, together with its subsidiaries, provides technology systems and solutions to customers in deep-sea, digital, defence, merchant marine, oil and gas, fisheries, aerospace, and space industries. The last earnings update was 21 days ago. More info.


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  • Kongsberg Gruppen has significant price volatility in the past 3 months.
KOG Share Price and Events
7 Day Returns
0.7%
OB:KOG
0.9%
Europe Aerospace & Defense
-1.5%
NO Market
1 Year Returns
17.4%
OB:KOG
27.6%
Europe Aerospace & Defense
-0.6%
NO Market
KOG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Kongsberg Gruppen (KOG) 0.7% 10.1% 28.8% 17.4% 14.1% 4.7%
Europe Aerospace & Defense 0.9% 8% 5.2% 27.6% 66.6% 106.3%
NO Market -1.5% 1% 6% -0.6% 20.2% 18.8%
1 Year Return vs Industry and Market
  • KOG underperformed the Aerospace & Defense industry which returned 27.6% over the past year.
  • KOG outperformed the Market in Norway which returned -0.6% over the past year.
Price Volatility
KOG
Industry
5yr Volatility vs Market

KOG Value

 Is Kongsberg Gruppen undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Kongsberg Gruppen to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Kongsberg Gruppen.

OB:KOG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 5 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.9%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OB:KOG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Aerospace & Defense Unlevered Beta Simply Wall St/ S&P Global 0.88
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.877 (1 + (1- 23%) (24.78%))
1.029
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.03
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.029 * 5.96%)
7.9%

Discounted Cash Flow Calculation for OB:KOG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Kongsberg Gruppen is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

OB:KOG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 7.9%)
2020 1,561.50 Analyst x4 1,447.24
2021 2,116.67 Analyst x3 1,818.22
2022 2,539.58 Est @ 19.98% 2,021.87
2023 2,908.17 Est @ 14.51% 2,145.90
2024 3,219.00 Est @ 10.69% 2,201.44
2025 3,476.82 Est @ 8.01% 2,203.77
2026 3,690.11 Est @ 6.13% 2,167.81
2027 3,868.06 Est @ 4.82% 2,106.07
2028 4,019.05 Est @ 3.9% 2,028.15
2029 4,150.09 Est @ 3.26% 1,941.03
Present value of next 10 years cash flows NOK20,081.00
OB:KOG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK4,150.09 × (1 + 1.76%) ÷ (7.9% – 1.76%)
NOK68,833.11
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK68,833.11 ÷ (1 + 7.9%)10
NOK32,193.72
OB:KOG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK20,081.00 + NOK32,193.72
NOK52,274.72
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK52,274.72 / 179.97
NOK290.46
OB:KOG Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK290.46
Current discount Discount to share price of NOK139.20
= -1 x (NOK139.20 - NOK290.46) / NOK290.46
52.1%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Kongsberg Gruppen is available for.
Intrinsic value
>50%
Share price is NOK139.2 vs Future cash flow value of NOK290.46
Current Discount Checks
For Kongsberg Gruppen to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Kongsberg Gruppen's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Kongsberg Gruppen's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Kongsberg Gruppen's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Kongsberg Gruppen's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:KOG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in NOK NOK4.06
OB:KOG Share Price ** OB (2019-11-20) in NOK NOK139.2
Europe Aerospace & Defense Industry PE Ratio Median Figure of 36 Publicly-Listed Aerospace & Defense Companies 21.72x
Norway Market PE Ratio Median Figure of 141 Publicly-Listed Companies 12.97x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Kongsberg Gruppen.

OB:KOG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:KOG Share Price ÷ EPS (both in NOK)

= 139.2 ÷ 4.06

34.26x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kongsberg Gruppen is overvalued based on earnings compared to the Europe Aerospace & Defense industry average.
  • Kongsberg Gruppen is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Kongsberg Gruppen's expected growth come at a high price?
Raw Data
OB:KOG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 34.26x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts
56.1%per year
Europe Aerospace & Defense Industry PEG Ratio Median Figure of 26 Publicly-Listed Aerospace & Defense Companies 1.65x
Norway Market PEG Ratio Median Figure of 105 Publicly-Listed Companies 0.67x

*Line of best fit is calculated by linear regression .

OB:KOG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 34.26x ÷ 56.1%

0.61x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kongsberg Gruppen is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Kongsberg Gruppen's assets?
Raw Data
OB:KOG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in NOK NOK70.24
OB:KOG Share Price * OB (2019-11-20) in NOK NOK139.2
Europe Aerospace & Defense Industry PB Ratio Median Figure of 49 Publicly-Listed Aerospace & Defense Companies 2.18x
Norway Market PB Ratio Median Figure of 234 Publicly-Listed Companies 1.06x
OB:KOG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:KOG Share Price ÷ Book Value per Share (both in NOK)

= 139.2 ÷ 70.24

1.98x

* Primary Listing of Kongsberg Gruppen.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Kongsberg Gruppen is good value based on assets compared to the Europe Aerospace & Defense industry average.
X
Value checks
We assess Kongsberg Gruppen's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Aerospace & Defense industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Aerospace & Defense industry average (and greater than 0)? (1 check)
  5. Kongsberg Gruppen has a total score of 4/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

KOG Future Performance

 How is Kongsberg Gruppen expected to perform in the next 1 to 3 years based on estimates from 5 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
56.1%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Kongsberg Gruppen expected to grow at an attractive rate?
  • Kongsberg Gruppen's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Kongsberg Gruppen's earnings growth is expected to exceed the Norway market average.
  • Kongsberg Gruppen's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:KOG Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:KOG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 5 Analysts 56.1%
OB:KOG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 5 Analysts 15.9%
Europe Aerospace & Defense Industry Earnings Growth Rate Market Cap Weighted Average 14.5%
Europe Aerospace & Defense Industry Revenue Growth Rate Market Cap Weighted Average 4.2%
Norway Market Earnings Growth Rate Market Cap Weighted Average 21.3%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OB:KOG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:KOG Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2021-12-31 30,635 2,788 1,879 5
2020-12-31 27,794 2,233 1,248 5
2019-12-31 23,014 1,416 587 5
2019-11-20
OB:KOG Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-09-30 20,065 1,093 694
2019-06-30 17,173 1,915 738
2019-03-31 14,454 2,784 757
2018-12-31 14,381 2,189 701
2018-09-30 13,990 2,614 626
2018-06-30 14,115 1,956 550
2018-03-31 14,323 2,374 522
2017-12-31 14,490 2,899 554
2017-09-30 14,685 1,888 552
2017-06-30 14,834 2,203 330
2017-03-31 15,226 1,441 572
2016-12-31 15,845 809 653

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Kongsberg Gruppen's earnings are expected to grow significantly at over 20% yearly.
  • Kongsberg Gruppen's revenue is expected to grow by 15.9% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:KOG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below

All data from Kongsberg Gruppen Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:KOG Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2021-12-31 10.44 11.50 9.10 5.00
2020-12-31 6.93 8.18 6.24 5.00
2019-12-31 3.26 3.41 3.09 5.00
2019-11-20
OB:KOG Past Financials Data
Date (Data in NOK Millions) EPS *
2019-09-30 4.06
2019-06-30 4.73
2019-03-31 5.37
2018-12-31 5.56
2018-09-30 5.22
2018-06-30 4.59
2018-03-31 4.35
2017-12-31 4.62
2017-09-30 4.60
2017-06-30 2.75
2017-03-31 4.77
2016-12-31 5.44

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Kongsberg Gruppen is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Kongsberg Gruppen's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Kongsberg Gruppen has a total score of 4/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

KOG Past Performance

  How has Kongsberg Gruppen performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Kongsberg Gruppen's growth in the last year to its industry (Aerospace & Defense).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Kongsberg Gruppen's year on year earnings growth rate was negative over the past 5 years and the most recent earnings are below average.
  • Kongsberg Gruppen's 1-year earnings growth exceeds its 5-year average (10.9% vs -8.9%)
  • Kongsberg Gruppen's earnings growth has not exceeded the Europe Aerospace & Defense industry average in the past year (10.9% vs 12.8%).
Earnings and Revenue History
Kongsberg Gruppen's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Kongsberg Gruppen Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:KOG Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 20,065.00 694.00 5,929.00
2019-06-30 17,173.00 738.00 5,929.00
2019-03-31 14,454.00 757.00 5,929.00
2018-12-31 14,381.00 701.00 5,929.00
2018-09-30 13,990.00 626.00 5,695.00
2018-06-30 14,115.00 550.00 5,695.00
2018-03-31 14,323.00 522.00 5,695.00
2017-12-31 14,490.00 554.00 5,695.00
2017-09-30 14,685.00 552.00 6,136.00
2017-06-30 14,834.00 330.00 6,136.00
2017-03-31 15,226.00 572.00 6,136.00
2016-12-31 15,845.00 653.00 6,136.00
2016-09-30 16,460.00 453.00 6,192.00
2016-06-30 17,041.00 813.00 6,192.00
2016-03-31 17,138.00 698.00 6,192.00
2015-12-31 17,032.00 747.00 6,192.00
2015-09-30 16,822.00 715.00 6,118.00
2015-06-30 16,804.00 857.00 6,118.00
2015-03-31 16,845.00 908.00 6,118.00
2014-12-31 16,552.00 873.00 6,118.00
2014-09-30 16,940.00 1,219.00 4,912.00
2014-06-30 16,397.00 1,153.00 4,912.00
2014-03-31 16,231.00 1,197.00 4,912.00
2013-12-31 16,323.00 1,228.00 4,912.00
2013-09-30 15,787.00 1,152.00 4,517.00
2013-06-30 16,014.00 1,244.00 4,517.00
2013-03-31 15,849.00 1,267.00 4,517.00
2012-12-31 15,652.00 1,309.00 4,517.00

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Kongsberg Gruppen has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Kongsberg Gruppen used its assets less efficiently than the Europe Aerospace & Defense industry average last year based on Return on Assets.
  • Kongsberg Gruppen's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Kongsberg Gruppen's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Aerospace & Defense industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Kongsberg Gruppen has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

KOG Health

 How is Kongsberg Gruppen's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Kongsberg Gruppen's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Kongsberg Gruppen is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Kongsberg Gruppen's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Kongsberg Gruppen's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 4.7x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Kongsberg Gruppen Company Filings, last reported 1 month ago.

OB:KOG Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 12,618.00 4,090.00 3,667.00
2019-06-30 12,341.00 4,349.00 4,522.00
2019-03-31 12,791.00 4,348.00 10,389.00
2018-12-31 12,626.00 4,333.00 10,043.00
2018-09-30 7,164.00 3,326.00 2,990.00
2018-06-30 7,051.00 3,337.00 2,630.00
2018-03-31 7,307.00 3,340.00 2,739.00
2017-12-31 7,365.00 3,341.00 2,966.00
2017-09-30 6,918.00 3,630.00 1,639.00
2017-06-30 6,818.00 3,899.00 2,257.00
2017-03-31 6,887.00 4,090.00 2,192.00
2016-12-31 6,725.00 4,087.00 1,901.00
2016-09-30 6,684.00 4,031.00 1,249.00
2016-06-30 6,624.00 4,103.00 1,436.00
2016-03-31 6,744.00 864.00 1,368.00
2015-12-31 6,127.00 875.00 1,826.00
2015-09-30 5,892.00 882.00 2,181.00
2015-06-30 5,962.00 882.00 2,908.00
2015-03-31 6,473.00 887.00 3,761.00
2014-12-31 6,282.00 874.00 4,424.00
2014-09-30 6,906.00 855.00 3,900.00
2014-06-30 6,644.00 841.00 3,775.00
2014-03-31 7,015.00 1,327.00 4,618.00
2013-12-31 6,657.00 1,350.00 3,272.00
2013-09-30 6,275.00 1,309.00 2,376.00
2013-06-30 6,211.00 1,311.00 2,630.00
2013-03-31 6,457.00 1,313.00 2,144.00
2012-12-31 6,274.00 1,325.00 2,509.00
  • Kongsberg Gruppen's level of debt (32.4%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (12.4% vs 32.4% today).
  • Debt is well covered by operating cash flow (26.7%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 5.9x coverage).
X
Financial health checks
We assess Kongsberg Gruppen's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Kongsberg Gruppen has a total score of 5/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

KOG Dividends

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

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
1.8%
Current annual income from Kongsberg Gruppen dividends. Estimated to be 2.51% next year.
If you bought NOK2,000 of Kongsberg Gruppen shares you are expected to receive NOK36 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Kongsberg Gruppen's pays a lower dividend yield than the bottom 25% of dividend payers in Norway (2.48%).
  • Kongsberg Gruppen's dividend is below the markets top 25% of dividend payers in Norway (5.98%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:KOG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 5 Analyst Estimates (S&P Global) See Below
Europe Aerospace & Defense Industry Average Dividend Yield Market Cap Weighted Average of 30 Stocks 1.6%
Norway Market Average Dividend Yield Market Cap Weighted Average of 112 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.6%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OB:KOG Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2021-12-31 4.73 5.00
2020-12-31 3.23 5.00
2019-12-31 2.28 4.00
2019-11-20
OB:KOG Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-02-14 2.500 2.036
2018-02-07 3.750 2.478
2017-04-05 3.750 2.719
2016-02-11 4.250 3.321
2015-04-13 4.250 3.087
2015-02-06 4.250 2.889
2014-04-04 4.250 3.118
2014-02-07 4.250 3.171
2013-05-02 3.750 3.187
2012-04-11 3.750 3.318
2012-02-10 3.750 3.202
2011-04-14 3.750 3.037
2011-02-14 3.750 2.488
2010-04-12 2.000 1.642
2010-02-19 2.000 2.020
2009-03-24 1.375 1.850
2009-02-12 1.375 1.954

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Kongsberg Gruppen's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.6x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.3x coverage).
X
Income/ dividend checks
We assess Kongsberg Gruppen's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Kongsberg Gruppen afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Kongsberg Gruppen has a total score of 3/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

KOG Management

 What is the CEO of Kongsberg Gruppen's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Geir Haoy
COMPENSATION NOK8,886,000
AGE 53
TENURE AS CEO 3.4 years
CEO Bio

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 served as President of Kongsberg Maritime Engineering AS. Mr. Haoy served as the Chief Executive Officer of Kongsberg Maritime AS and has been its President since October 01, 2010 and served as its Executive Vice President of Global Customer Support. Mr. Haoy served as an Executive Vice President at Kongsberg Gruppen ASA. Mr. Haoy has been with Kongsberg for 17 years. He has broad international experience from different positions in Kongsberg Maritime. He served as Head of activities in Singapore and in Busan, South-Korea at Kongsberg Maritime. Mr. Haoy holds a Diploma of Marine Electronics Engineering from Vestfold University College, Faculty of Technology and Maritime Sciences in 1989.

CEO Compensation
  • Geir's compensation has been consistent with company performance over the past year, both up more than 20%.
  • Geir's remuneration is about average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the Kongsberg Gruppen management team in years:

3.4
Average Tenure
57
Average Age
  • The tenure for the Kongsberg Gruppen management team is about average.
Management Team

Geir Haoy

TITLE
President & CEO
COMPENSATION
NOK9M
AGE
53
TENURE
3.4 yrs

Gyrid Ingerø

TITLE
Group Executive VP & CFO
COMPENSATION
NOK4M
AGE
52
TENURE
2 yrs

Hans Blokkum

TITLE
Group EVP
COMPENSATION
NOK3M
AGE
57
TENURE
1.7 yrs

Eirik Lie

TITLE
Executive VP and President of Kongsberg Defence & Aerospace
COMPENSATION
NOK5M
AGE
58
TENURE
3.3 yrs

Even Aas

TITLE
Group Executive Vice President of Public Affairs
COMPENSATION
NOK3M
AGE
58

Egil Haugsdal

TITLE
Executive VP & President of Kongsberg Maritime
COMPENSATION
NOK6M
AGE
58
TENURE
4.3 yrs

Hege Skryseth

TITLE
Executive VP & President of Kongsberg Digital
COMPENSATION
NOK4M
AGE
52
TENURE
3.3 yrs

Harald Aarø

TITLE
Group Executive Vice President of Business Development & Strategy
COMPENSATION
NOK4M
AGE
50
TENURE
4.3 yrs

Kristin Barkost

TITLE
Vice President of Accounting
AGE
65
TENURE
9.8 yrs

Jan Erik Hoff

TITLE
Group Vice President of Investor Relations
Board of Directors Tenure

Average tenure and age of the Kongsberg Gruppen board of directors in years:

2.6
Average Tenure
62
Average Age
  • The average tenure for the Kongsberg Gruppen board of directors is less than 3 years, this suggests a new board.
Board of Directors

Eivind Reiten

TITLE
Chairman
COMPENSATION
NOK552K
AGE
65
TENURE
2.6 yrs

Morten Henriksen

TITLE
Independent Director
COMPENSATION
NOK338K
TENURE
6.5 yrs

Helge Lintvedt

TITLE
Employee Representative Director
COMPENSATION
NOK326K
AGE
62
TENURE
10.5 yrs

Anne-Grete Strom-Erichsen

TITLE
Independent Director
COMPENSATION
NOK293K
AGE
70
TENURE
4.5 yrs

Martha Kold Bakkevig

TITLE
Independent Director
COMPENSATION
NOK306K
AGE
57
TENURE
2.6 yrs

Sigmund Bakke

TITLE
Employee Representative Director
COMPENSATION
NOK255K
AGE
61
TENURE
2.6 yrs

Elisabeth Fossan

TITLE
Employee Representative Director
COMPENSATION
NOK293K
AGE
52
TENURE
2.6 yrs

Per Sørlie

TITLE
Director
AGE
62
TENURE
0.5 yrs

Ole Magnus Svarva

TITLE
Deputy Director
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
X
Management checks
We assess Kongsberg Gruppen's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Kongsberg Gruppen has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

KOG News

Simply Wall St News

Is Kongsberg Gruppen ASA (OB:KOG) An Attractive Dividend Stock?

A sizeable part of portfolio returns can be produced by dividend stocks due to their contribution to compounding returns in the long run. … Historically, Kongsberg Gruppen ASA (OB:KOG) has paid a dividend to shareholders. … Let's take a look at Kongsberg Gruppen in more detail.

Simply Wall St -

Should Kongsberg Gruppen ASA (OB:KOG) Focus On Improving This Fundamental Metric?

To keep the lesson grounded in practicality, we'll use ROE to better understand Kongsberg Gruppen ASA (OB:KOG). … Check out our latest analysis for Kongsberg Gruppen? … Return on Equity = Net Profit ÷ Shareholders' Equity

Simply Wall St -

Did Kongsberg Gruppen ASA's (OB:KOG) Recent Earnings Growth Beat The Trend?

When Kongsberg Gruppen ASA's (OB:KOG) announced its latest earnings (30 September 2018), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Kongsberg Gruppen's average earnings over the past couple of years, and its industry performance. … KOG's trailing twelve-month earnings (from 30 September 2018) of øre626m has.

Simply Wall St -

With An ROE Of 7.23%, Has Kongsberg Gruppen ASA's (OB:KOG) Management Done Well?

Kongsberg Gruppen ASA (OB:KOG) delivered a less impressive 7.23% ROE over the past year, compared to the 14.84% return generated by its industry. … An investor may attribute an inferior ROE to a relatively inefficient performance, and whilst this can often be the case, knowing the nuts and bolts of the ROE calculation may change that perspective and give you a deeper insight into KOG's past performance. … Metrics such as financial leverage can impact the level of ROE which in turn can affect the sustainability of KOG's returns.

Simply Wall St -

Looking At Kongsberg Gruppen ASA (OB:KOG) From All Angles

I've been keeping an eye on Kongsberg Gruppen ASA (OB:KOG) because I'm attracted to its fundamentals. … Looking at the company as a whole, as a potential stock investment, I believe KOG has a lot to offer. … company with a

Simply Wall St -

Is Kongsberg Gruppen ASA (OB:KOG) An Attractive Dividend Stock?

In the past 10 years Kongsberg Gruppen ASA (OB:KOG) has returned an average of 3.00% per year to investors in the form of dividend payouts. … Does Kongsberg Gruppen tick all the boxes of a great dividend stock? … Check out our latest analysis for Kongsberg Gruppen

Simply Wall St -

Intrinsic Calculation For Kongsberg Gruppen ASA (OB:KOG) Shows Investors Are Overpaying

by taking the expected future cash flows and discounting them to today's value. … Discounted Cash Flows (DCF). … If you want to learn more about discounted cash flow, the basis for my calcs can be read in detail in the Simply Wall St analysis model

Simply Wall St -

Is Kongsberg Gruppen ASA's (OB:KOG) Growth Strong Enough To Justify Its June Share Price?

Kongsberg Gruppen ASA (OB:KOG) is considered a high-growth stock, but its last closing price of NOK181.2 left some investors wondering if this high future earnings potential can be rationalized by its current price tag. … Let’s take a look at some key metrics to determine whether there's any value here for current and potential future investors. … Kongsberg Gruppen is poised for extremely high earnings growth in the near future

Simply Wall St -

Does Kongsberg Gruppen ASA's (OB:KOG) -8.74% Earnings Drop Reflect A Longer Term Trend?

For long term investors, improvement in profitability and outperformance against the industry can be important characteristics in a stock. … In this article, I will take a look at Kongsberg Gruppen ASA's (OB:KOG) track record on a high level, to give you some insight into how the company has been performing against its historical trend and its industry peers. … View out our latest analysis for Kongsberg Gruppen?

Simply Wall St -

Are Kongsberg Gruppen ASA's (OB:KOG) Interest Costs Too High?

See our latest analysis for Kongsberg Gruppen How does KOG’s operating cash flow stack up against its debt? … Additionally, KOG has generated ØRE2.90B in operating cash flow in the last twelve months, leading to an operating cash to total debt ratio of 86.77%, meaning that KOG’s operating cash is sufficient to cover its debt. … Next Steps: Although KOG’s debt level is towards the higher end of the spectrum, its cash flow coverage seems adequate to meet obligations which means its debt is being efficiently utilised.

Simply Wall St -

KOG Company Info

Description

Kongsberg Gruppen ASA, together with its subsidiaries, provides technology systems and solutions to customers in deep-sea, digital, defence, merchant marine, oil and gas, fisheries, aerospace, and space industries. The company operates in two segments, Kongsberg Maritime; and Kongsberg Defence & Aerospace. The Kongsberg Maritime segment provides products and systems for positioning, monitoring, navigation, and automation for merchant vessels and the offshore industry, as well as back-deck handling equipment for use on offshore vessels. The Kongsberg Defence & Aerospace segment supplies defense and space-related systems and products for command and control, weapons control systems and surveillance, communications solutions, remote weapon systems, and missiles. The company primarily operates in Norway, Europe, North America, South America, Asia, Australia, and Africa. Kongsberg Gruppen ASA was founded in 1814 and is headquartered in Kongsberg, Norway.

Details
Name: Kongsberg Gruppen ASA
KOG
Exchange: OB
Founded: 1814
NOK25,052,281,411
179,973,286
Website: http://www.kongsberg.com
Address: Kongsberg Gruppen ASA
Kirkegårdsveien 45,
Kongsberg,
Buskerud, 3616,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB KOG Class A Shares Oslo Bors NO NOK 13. Dec 1993
OTCPK NSKF.F Class A Shares Pink Sheets LLC US USD 13. Dec 1993
DB KOZ Class A Shares Deutsche Boerse AG DE EUR 13. Dec 1993
LSE 0F08 Class A Shares London Stock Exchange GB NOK 13. Dec 1993
BATS-CHIXE KOGO Class A Shares BATS 'Chi-X Europe' GB NOK 13. Dec 1993
Number of employees
Current staff
Staff numbers
10,807
Kongsberg Gruppen employees.
Industry
Aerospace and Defense
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/20 20:35
End of day share price update: 2019/11/20 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/10/30
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.