Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Klaveness Combination Carriers ASA is a leading owner and operator of combination carriers, specializing in the most carbon-efficient deep-sea shipping solutions for the tanker and dry bulk segments. Established in March 2018 as a consolidation of vessel ownership and operations from the Torvald Klaveness Group, the company traces its roots to the 1950s, with over 80 years of innovation in vessel design, equipment, operational procedures, and crew training. Its fleet comprises 16 vessels—eight CABU (Caustic-Bulker) vessels optimized for caustic soda and dry bulk, and eight CLEANBU (Clean Petroleum-Bulker) vessels for clean petroleum products and dry cargoes—designed to switch seamlessly between wet and dry shipments, minimizing ballast time to about four days per round voyage compared to 10-20 days for standard vessels. This versatility yields up to 40% lower fuel consumption and greenhouse gas emissions for equivalent transport work, while reducing earnings volatility through premium, flexible services serving industries like alumina, caustic soda, vegetable oils, iron ore, sugar, and grains in regions such as Australia and South America. Three advanced CABU III newbuilds, prepared for zero-emission fuels, are slated for delivery in 2026, supporting ambitious decarbonization targets including a 45% carbon intensity reduction by 2030 relative to 2018 levels. Headquartered in Oslo, Norway, with around 10 employees, Klaveness Combination Carriers ASA leverages synergies within the Torvald Klaveness ecosystem for enhanced digital logistics, dry bulk access, and certified ship management, positioning it as a progressive force in sustainable shipping.
€7.92
+€0.43 (+5.74%)
EOD Jul 2, 2026
18.40% operating margin is respectable but not wide. ROIC at 7.19%. Suggests the business covers its cost of capital, but doesn't point to a wide moat.
Revenue declined 14.3% YoY. Margins deteriorated 15.8pp alongside, both lines moving the wrong way.
Free cash flow declined 50% versus the prior year, cash generation momentum has weakened. ROIC dropped from 15.95% to 7.19%, capital efficiency is deteriorating.
12.1x earnings, 13.1x FCF. The multiple is below average. Either the market is pricing in deterioration you should investigate, or there's genuine value here.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
$257M
▼ -14.3% YoY
Net Income (TTM)
$45M
▼ -59.0% YoY
Op. Margin
21.91%
▼ -15.8pp YoY
ROIC
7.19%
▼ -8.8pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
$41M
▼ -49.7% YoY
Op. Cash Flow (TTM)
$89M
▼ -38.9% YoY
Net Debt
$220M
Cash & Equiv.
$50M
3Y CAGR: -2.9%
3Y CAGR: -16.9%
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At a P/E of 12.1 and a price-to-free-cash-flow of 13.1, Klaveness Combination Carriers ASA (KCC.XOSL) trades around a two-stage DCF intrinsic value of about $8.30 per share, so at $7.92 the stock looks around fair value (4.8% below estimated intrinsic value). A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in how to tell if a stock is overvalued.
On quality, Klaveness Combination Carriers ASA scores 23/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 3.1%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Intrinsiqq's two-stage DCF estimates an intrinsic value of about $8.30 per share for KCC.XOSL, projecting its recent free cash flow forward with a growth rate that fades toward a long-run rate and discounting it back to today. Applying a 25% margin of safety gives a more conservative fair-value entry around $6.23. At today's $7.92, that puts the stock about 4.8% below estimated intrinsic value. The result is sensitive to the growth and discount-rate inputs, so it is best to run conservative, base and optimistic cases. You can adjust all of them yourself with the sliders on the DCF tab.
Klaveness Combination Carriers ASA scores 23 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 21.9% operating margin and a 7.2% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Klaveness Combination Carriers ASA pays a regular dividend of about $0.28 per share per year (typically in quarterly installments), a yield of roughly 3.1% at the current price. That is a payout ratio of about 37.7% of earnings, so the dividend is amply covered by earnings. Klaveness Combination Carriers ASA has grown the dividend at roughly 25.9% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For KCC.XOSL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. KCC.XOSL currently trades around its estimated intrinsic value and scores 23/100 on quality (lower-quality). It also yields about 3.1%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.