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Stock

Aker ASA

AKAAF
60
Conglomerates · Industrials
Price
$172.54
+0.00 (+0.00%)
Market Cap
$12.82B
Exchange
Other OTC
Winston Score
60
Winston is curious
A decent business — some strong pillars, some weaker.
Data as of Sep 9, 2026 · filings through Jun 30, 2026

§How the score breaks down

Quality
Good
Growth
Mixed
Cash Flow
Mixed
Stability
Strong
Valuation
Good
Dividends
Strong

§Winston Score History

The full picture

Aker ASA functions as a diversified industrial investment firm with a significant presence across Norway, the European Union, North America, South America, and Asia, extending its reach globally. Its business is structured around two core segments: Industrial Holdings and Financial Investments. Under its Industrial Holdings division, Aker is active in the exploration and production of oil and gas, developing and deploying advanced technologies for the drilling market, and delivering a range of solutions, products, and services to the broader energy sector, while also maintaining substantial oil reserves. The company is involved in the harvesting, development, marketing, and sale of krill-derived ingredients and products, catering to the nutraceutical, aquaculture, and animal feed industries. Additionally, it constructs and manages sea-based salmon farming operations and champions renewable energy and sustainable green technologies. Its maritime activities encompass the design, construction, and leasing of various vessels, alongside the ownership and operation of specialized offshore support vessels such as supply, anchor handling, and construction service vessels. Aker also provides industrial clients with Cognite Data Fusion, a platform designed to collect, process, and leverage big data, and is engaged in real estate and software development. Within its Financial Investments segment, Aker engages in the trading of financial instruments, runs a venture capital platform focused on industrial technology, and serves as an investment manager. It also makes strategic investments in Bitcoin itself, as well as in projects and companies integral to the broader Bitcoin ecosystem. Established in 1841, Aker ASA maintains its headquarters in Lysaker, Norway, and operates as a subsidiary of TRG Holding AS.

Share count broadly stable

+0.0% over 4y

The share count has stayed roughly flat over this period — little dilution or buyback activity.

Diluted shares outstanding: 74.3M (2021) → 74.3M (2025)

Score breakdown

Every number that matters to educated investors.

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Quality

Profit per sale
Gross Margin
12.9%
Thin — 12.9% gross margin
Profit after running costs
Operating Margin
392.0%
Excellent — 392.0% operating margin
Return on the money invested
ROCE
24.5%
Exceptional — 24.5% return on capital

ROIC between 15% and 25%. Every dollar invested in the business earns 15 to 25 cents back per year.

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Growth

Sales growth
Sales YoY
-6.2%
Shrinking sales (-6.2% YoY)
Profit growth
EPS YoY
+266.2%
Earnings growing fast (+266.2% YoY)

Earnings growing 25%+ a year. The compounder zone.

How steady the profit is
EPS Consistency
4/8 quarters
Earnings inconsistent quarter-to-quarter

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Cash Flow

Profit that turns into cash
Cash Conversion
18%
Weak — only 18% of profit becomes cash
Spare cash per sale
FCF Margin
25.9%
Converts sales into free cash efficiently (25.9%)

Free cash flow margin above 20%. Out of every $100 in sales, more than $20 is real cash they keep.

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Stability

What it owes vs what it owns
Debt / Equity
0.66
Moderate — manageable debt (0.66)
Covers its interest
Interest Cover
15.12x
Comfortably covers interest (15.1x)

Interest coverage above 8. Profits cover interest many times over.

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Valuation

Price vs profit
P/E Ratio (TTM)
4.3x
Attractive valuation — P/E 4.3

P/E under 10. The price tag is small relative to last year's profit.

Cheaper or dearer next year
P/E vs Forward
-15.5
SLOWING
Earnings expected to fall — forward P/E higher than today

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Dividends

Dividend
Dividend Yield
3.60%
Moderate income — 3.60% yield

Standard yield zone for stable dividend payers. A meaningful piece of total return.

Dividend record
Dividend Growth
+105.4%
Dividend growing fast (105.4% YoY)

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