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.
Reach Subsea ASA is a Norwegian holding company specializing in offshore and subsea services for the oil and gas industry as well as renewable sectors. Established in 2008 and headquartered in Haugesund, Rogaland, it provides comprehensive solutions including surveying, inspection, maintenance, repair (IMR), light construction, geophysical and environmental monitoring, and in-house engineering, primarily using modern, high-specification Remotely Operated Underwater Vehicles (ROVs) operated by skilled offshore personnel and supported by onshore expertise. The company operates through two key segments: Oil & Gas, focusing on projects for energy firms, and Renewable/Other, serving non-oil clients such as offshore wind and carbon storage initiatives, with a global footprint spanning Norway, the UK, USA, Australia, Brazil, and beyond. Reach Subsea ASA emphasizes sustainability, adhering to ISO 9001, 14001, and 45001 standards, while innovating with uncrewed surface vessels (USVs) like Reach Remote for efficient, remote operations. Employing around 500 people, it maintains a flexible, lease-based vessel fleet including Edda Fonn and Normand Reach, positioning it as a preferred partner for ocean data and subsea operations across energy and emerging markets.
NOK 4.78
NOK 0.09 (-1.85%)
Live · 05:22 PM
Operating margin is thin at 6.44%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 1.6% YoY. Margins deteriorated 6.9pp alongside, both lines moving the wrong way.
ROIC dropped from 13.44% to 6.13%, capital efficiency is deteriorating. Operating margin contracted 6.9pp YoY, cost discipline may be slipping.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (TTM)
NOK 2.53B
▼ -1.6% YoY
Net Income (TTM)
-NOK 137M
▼ -47.4% YoY
Op. Margin
-3.48%
▼ -6.9pp YoY
ROIC
6.13%
▼ -7.3pp YoY
Cash Flow & Balance Sheet
FCF (TTM)
NOK 645M
▲ +35.4% YoY
Op. Cash Flow (TTM)
NOK 1.09B
▲ +37.3% YoY
Net Debt
NOK 1.20B
Cash & Equiv.
NOK 548M
3Y CAGR: +32.1%
3Y CAGR: +40.0%
Continue Research
Reach Subsea ASA (REACH.XOSL) trades below a two-stage DCF intrinsic value of about NOK 86.39 per share, so at NOK 4.78 the stock looks undervalued (1,709.2% 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, Reach Subsea ASA scores 49/100 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 8.7%; 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 86.39 per share for REACH.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 64.79. At today's NOK 4.78, that puts the stock about 1,709.2% 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.
Reach Subsea ASA scores 49 out of 100 on Intrinsiqq's quality score, a weighted blend of 7 metrics each scored 0 to 100, which makes it a mixed business on these measures. Recent fundamentals include a -3.5% operating margin and a 6.1% 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, Reach Subsea ASA pays a regular dividend of about NOK 0.42 per share per year (typically in quarterly installments), a yield of roughly 8.7% at the current price. Reach Subsea ASA has grown the dividend at roughly 58.9% 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 REACH.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. REACH.XOSL currently trades below its estimated intrinsic value and scores 49/100 on quality (mixed). It also yields about 8.7%. 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.