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.
Multiconsult ASA is a leading Norwegian engineering consultancy firm specializing in multidisciplinary design, planning, project management, and architecture services. Founded in 1908 through its predecessor Norsk Vandbygningskontor, the company delivers comprehensive solutions including geotechnical surveys, environmental assessments, verification, and controls across key sectors such as buildings and properties, mobility and transportation, energy and industry, water and environment, cities and society, oil and gas, and renewable energy. Operating primarily from its headquarters in Oslo, Multiconsult ASA extends its expertise through subsidiaries and offices in Sweden, Denmark, Poland, the United Kingdom, Asia, and Africa, employing around 4,000 professionals. Notable for its integration of engineering and architecture via acquisitions like LINK Arkitektur and A-lab, it supports infrastructure development, hydropower, urban planning, and sustainable projects, generating the majority of revenue from Norwegian operations in buildings and properties. As a key player in the industrials sector, Multiconsult ASA contributes significantly to complex construction and energy initiatives across Scandinavia and internationally.
NOK 145.00
+NOK 0.20 (+0.14%)
Live · 05:22 PM
Operating margin is thin at 5.89%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 4.3%, steady but not accelerating. Margins contracted 2.3pp, which offsets some of the top-line progress.
Free cash flow declined 70% versus the prior year, cash generation momentum has weakened. ROIC dropped from 18.05% to 11.90%, capital efficiency is deteriorating.
17.4x earnings, 10.4x FCF. Valuation is in a reasonable range. The main question is whether the business can re-accelerate or if current trajectory is already priced in.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 6.72B
▲ +4.3% YoY
Net Income (TTM)
NOK 228M
▼ -38.9% YoY
Op. Margin
5.34%
▼ -2.3pp YoY
ROIC
11.90%
▼ -6.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 384M
▼ -70.1% YoY
Op. Cash Flow (TTM)
NOK 501M
▼ -57.3% YoY
Net Debt
NOK 1.44B
Cash & Equiv.
NOK 101M
3Y CAGR: +10.8%
3Y CAGR: -30.8%
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At a P/E of 17.4 and a price-to-free-cash-flow of 10.4, Multiconsult ASA (MULTI.XOSL) trades around a two-stage DCF intrinsic value of about NOK 189.24 per share, so at NOK 145.00 the stock looks around fair value (30.5% 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, Multiconsult ASA scores 45/100 on Intrinsiqq's quality scorecard (a mixed business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 6.9%; 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 NOK 189.24 per share for MULTI.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 NOK 141.93. At today's NOK 145.00, that puts the stock about 30.5% 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.
Multiconsult ASA scores 45 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a 5.3% operating margin and a 11.9% 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, Multiconsult ASA pays a regular dividend of about NOK 10.05 per share per year (typically in quarterly installments), a yield of roughly 6.9% at the current price. That is a payout ratio of about 121.6% of earnings, so the dividend is stretched at this level. Multiconsult ASA has grown the dividend at roughly 6.5% 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 MULTI.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. MULTI.XOSL currently trades around its estimated intrinsic value and scores 45/100 on quality (mixed). It also yields about 6.9%. 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.