Akastor ASA

AKAST.OL

Oil & Gas Equipment & Services · Energy

Also trades as: 0IPT.L

Exchange

Oslo Stock Exchange

Winston Score

Winston is curious

A decent business — some strong pillars, some weaker.

Data as of Aug 23, 2026 · filings through Mar 31, 2026

How the score breaks down

Quality

Strong

Growth

Good

Cash Flow

Mixed

Stability

Good

Valuation

Strong

Dividends

Good

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Winston Score History

The full picture

Akastor ASA is a Norwegian oil services investment company. Instead of drilling for oil itself, it owns stakes in businesses that provide equipment and services to oil and gas companies around the world. Its main holding is MHWirth, which makes drilling equipment used on offshore oil rigs. Its customers are large oil companies and drilling contractors operating in offshore energy markets.

Akastor makes money through its portfolio companies, which earn revenue by selling and servicing drilling equipment and through long-term service contracts with oil producers. The company is headquartered in Norway and operates globally, with a strong presence in offshore markets. Its high gross margin reflects the value of specialized equipment and service contracts, though its low return on invested capital suggests the portfolio is still working toward consistent profitability. The key risk is that Akastor's performance depends heavily on offshore drilling activity, which rises and falls with oil prices and energy investment cycles.

Growth Profile

For growth stock investors

When traditional metrics don't capture the full picture, these are the signals growth stock investors use instead.

Revenue Growth

+139.5% YoY

YoY Growth Rate

Revenue accelerating

EPS Growth

+145.8% YoY

YoY Growth Rate

Strong earnings growth

Insider Activity

58.8%ownership

→ Flat

Insider ownership roughly steady over the past year

Cash Runway

5+ years

Quarterly Free Cash Flow

↑ Burn rate improving

kr 4.7B cash & investments at current burn rate

Revenue accelerating

Akastor ASA grew revenue 139% year-over-year and the growth rate is speeding up. That's the kind of momentum growth investors look for — the question is whether margins can follow.

The Winston Score above measures business quality today. Growth stocks often score lower because they invest in the future rather than maximising current profits. These metrics show what matters most for evaluating that future.

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale

Gross Margin

94.0%

Premium pricing power — 94.0% gross margin

Profit after running costs

Operating Margin

61.5%

Excellent — 61.5% operating margin

Return on the money invested

ROCE

2.0%

Weak — 2.0% return on capital

ROIC between 0% and 5%. They earn a few cents back per dollar invested in the business.

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Growth

Sales growth

Sales YoY

+39.6%

Fast-growing sales (+39.6% YoY)

Profit growth

EPS YoY

-83.8%

Earnings shrinking (-83.8% YoY)

Earnings per share down more than 10%. Either a bad year, or a real decline.

How steady the profit is

EPS Consistency

5/8 quarters

Mixed — about half the quarters showed growth

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Cash Flow

Profit that turns into cash

Cash Conversion

44%

Weak — only 44% of profit becomes cash

Spare cash per sale

FCF Margin

6.2%

Modest free cash flow (6.2%)

FCF margin between 0% and 10%. Some cash from sales, but not a lot.

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Stability

What it owes vs what it owns

Debt / Equity

0.03

Conservative — low debt load (0.03)

Covers its interest

Interest Cover

1.60x

Dangerous — barely covers interest (1.6x)

Interest coverage between 1 and 3. Profits cover interest, but with little room to spare.

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Valuation

Price vs profit

P/E Ratio (TTM)

27.5x

no trend

Growth-priced — P/E 27.5

P/E above the market average. People are paying up for expected growth.

Cheaper or dearer next year

P/E vs Forward

+13.4

GROWING

Earnings expected to grow meaningfully — cheaper on forward P/E (27.5 → 14.1)

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Dividends

Dividend

Dividend Yield

20.42%

no trend

Healthy income — 20.42% yield

Yield above 6% — often a flag the market is pricing in a cut.

Dividend record

Dividend Growth

-82.0%

no trend

Dividend cut (-82.0% YoY) — warning sign

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