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.
Norconsult ASA is a leading pan-Nordic interdisciplinary consulting firm specializing in engineering, architecture, and digital expertise. Founded in 1929 and headquartered in Sandvika, Norway, the company delivers comprehensive consultancy services across all project phases, from ideation and planning to engineering design, execution, and monitoring. Its core offerings encompass community planning, building design for sectors like healthcare, education, sports, and cultural facilities, as well as infrastructure for transport, water, geosciences, environment, and renewable energy. Norconsult ASA also provides construction engineering, IT solutions for project management, and recruitment services, with a strong emphasis on sustainability, innovation, and the green transition to support urbanization and digital transformation. Operating primarily in the Nordics with international reach, it maintains a diversified business model fueled by organic growth and over 76 acquisitions since 2014, employing around 6,400 professionals. Guided by the purpose 'Every day we improve everyday life,' Norconsult ASA plays a pivotal role in developing resilient, efficient societies through its entrepreneurial culture and commitment to ethical, sustainable practices.
NOK 3.16
+NOK 0.03 (+1.12%)
EOD Jul 1, 2026
Operating margin is thin at 7.55%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue grew 9.5%, steady but not accelerating. Free cash flow declined 27% despite revenue growth, conversion is weakening.
Free cash flow declined 27% versus the prior year, cash generation momentum has weakened.
1.7x earnings, 0.8x 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)
NOK 11.88B
▲ +9.5% YoY
Net Income (TTM)
NOK 589M
▲ +30.9% YoY
Op. Margin
6.92%
▲ +2.1pp YoY
ROIC
12.85%
▲ +0.2pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 1.26B
▼ -27.5% YoY
Op. Cash Flow (TTM)
NOK 1.33B
▼ -38.4% YoY
Net Debt
NOK 1.46B
Cash & Equiv.
NOK 1.55B
3Y CAGR: +10.6%
3Y CAGR: +6.0%
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At a P/E of 1.7 and a price-to-free-cash-flow of 0.8, Norconsult ASA (NORCO.XOSL) trades below a two-stage DCF intrinsic value of about NOK 97.44 per share, so at NOK 3.16 the stock looks undervalued (2,988.4% 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, Norconsult ASA scores 64/100 on Intrinsiqq's quality scorecard (a solid business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 52.1%; 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 NOK 97.44 per share for NORCO.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 73.08. At today's NOK 3.16, that puts the stock about 2,988.4% 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.
Norconsult ASA scores 64 out of 100 on Intrinsiqq's quality score, a weighted blend of 8 metrics each scored 0 to 100, which makes it a solid business on these measures. Recent fundamentals include a 6.9% operating margin and a 12.9% 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, Norconsult ASA pays a regular dividend of about NOK 1.65 per share per year (typically in quarterly installments), a yield of roughly 52.1% at the current price. That is a payout ratio of about 86.9% of earnings, so the dividend is stretched at this level. Norconsult ASA has grown the dividend at roughly 20.2% 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 NORCO.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. NORCO.XOSL currently trades below its estimated intrinsic value and scores 64/100 on quality (solid). It also yields about 52.1%. 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.