olivLaw · European equity research
Archer Limited ARCH.OL
Norway · Euronext Oslo Børs · Vertical: Listed companies from Norway
Archer Limited provides drilling and well services to operators in the North Sea and Argentina. The company is exposed to oil and gas prices, customer concentration and political risk in Argentina, while a contract backlog of about 3.6 billion USD shows how much of its near-term activity is already contracted.
At the close of 06 Nov 2026, Archer Limited (ARCH.OL) stock was 16.90 NOK (−0.59% on the day), with beta 0.35, 52-week range 16.90–29.55 NOK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 25.2
- oversold (≤ 30)
- Bollinger (20, 2)
- 15.28 – 23.57
- in the lower half of the band · %B 0.20 · band width 42.6%
- SMA 50 / 200
- 21.42 / 24.38
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -1.33 / -1.15
- MACD below signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | −22.1% | −0.6% | −21.5 pp | — |
| 3 months | −32.4% | −4.2% | −28.2 pp | — |
| 6 months | −38.9% | +4.3% | −43.2 pp | — |
| Year to date | −26.7% | +7.5% | −34.2 pp | — |
| 1 year | −20.5% | +9.9% | −30.4 pp | −4.7% |
| 3 years | −23.9% | +49.8% | −73.7 pp | +17.6% |
| 5 years | −62.5% | +42.8% | −105.4 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
the price (USD) and the reports are in different currencies
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Fiscal years
| Fiscal year | 2024 | 2025 |
|---|---|---|
| Revenue | 1.1 bn | 1.2 bn |
| Revenue YoY | unavailable | +7.6% |
| Net income | -21.6 m | -58.7 m |
| Net income YoY | unavailable | unavailable |
| Diluted EPS | -0.31 | -0.63 |
| Diluted EPS YoY | unavailable | unavailable |
| net % | -1.9% | -4.9% |
| Free cash flow | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 40.6 m USD
- Financial debt
- 430.1 m USD
- Net debt
- 389.5 m USD
- Equity
- 199.6 m USD
- Total assets
- 1.1 bn USD
- Debt / equity
- 2.15x
- Current ratio
- 1.03x
- ROE
- -27.5%
- ROA
- -5.7%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (USD)
Margins
Income statement · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Revenue | 1.1 bn | 1.2 bn | esef· 21 Oct 2026verified |
| Operating income | 80.9 m | 45.6 m | esef· 21 Oct 2026verified |
| Depreciation & amortisation | 70.1 m | 78.1 m | esef· 21 Oct 2026verified |
| EBITDA | 151.0 m ≈ | 123.7 m ≈ | esef· 21 Oct 2026derived |
| Pre-tax income | -6.6 m | -48.2 m | esef· 21 Oct 2026verified |
| Income tax | 14.6 m | 5.3 m | esef· 21 Oct 2026verified |
| Net income | -21.6 m | -58.7 m | esef· 21 Oct 2026verified |
| Diluted EPS | -0.31 | -0.63 | esef· 21 Oct 2026verified |
| Weighted average diluted shares | 68.8 m | 93.1 m | esef· 21 Oct 2026verified |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · USD
| Line | 2024 | 2025 | Source (latest year) |
|---|---|---|---|
| Cash | 80.6 m | 40.6 m | esef· 21 Oct 2026verified |
| Inventories | 75.8 m | 71.9 m | esef· 21 Oct 2026verified |
| Current assets | 401.3 m | 379.4 m | esef· 21 Oct 2026verified |
| Property, plant & equipment, net | 342.6 m | 324.9 m | esef· 21 Oct 2026verified |
| Goodwill | 174.0 m | 196.2 m | esef· 21 Oct 2026verified |
| Intangibles (excl. goodwill) | 23.3 m | 32.5 m | esef· 21 Oct 2026verified |
| Total assets | 1.0 bn | 1.1 bn | esef· 21 Oct 2026verified |
| Long-term debt | 418.1 m | 430.1 m | esef· 21 Oct 2026verified |
| Current liabilities | 337.7 m | 369.3 m | esef· 21 Oct 2026verified |
| Equity | 226.9 m | 199.6 m | esef· 21 Oct 2026verified |
| Shares outstanding at year end | 69.7 m | 93.2 m | esef· 21 Oct 2026derived |
Cash flow · USD
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 4 of at least 6
- score weight coverage: 31.2% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
06 Nov 2026Source: olivLaw, closing series
Market cap: unavailable
Price and reporting are in different currencies; market indicators are unavailable.
Key indicators
Coverage and freshness
Score by group
31% · Insufficient data
Estimated value range
The combined range = the median of the valid methods' low, central and high values; it is not a probability interval and does not cover every result. Envelope of all methods: 6.56 – 9.17 USD.
Valuation assumptions are editorial choices, not measured; beta is not measured.
Method ranges (USD per share)
— — Mid · ▏ Price
Valuation methods
- DCF (discounted cash flow)unavailable · input data missing
- Peers: EV/EBITDA6.56 – 9.17 (Mid 7.72)5 companies used · median multiple 9.0x · quartiles 8.1x – 10.1xAKVA.OL, ATEA.OL, B2I.OL, BONHR.OL, ELMRA.OL
- Peers: P/Eunavailable · the base of the ratio is not positive
- Dividend discount (DDM)unavailable · the company pays no dividend: a dividend model needs an explicit initiation assumption
Assumptions (illustrative, editorial)
- Risk-free rate
- 4.3%
- Equity risk premium
- 5.0%
- Beta (default)
- 1.00
- Cost of equity
- 9.3%
- Terminal growth
- 2.5%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 4 of at least 6; score weight coverage: 31.2% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 6.6% | 41 (vs peers) | 33% |
| Net margin · Quality | -4.9% | 24 (vs peers) | 20% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | 3.1x | 20 (vs peers) | 33% |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 1.0x | 19 (on a fixed band) | 13% |
| P/E (TTM) · Valuation | unavailable | unavailable | — |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet20/100 · 2/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality34/100 · 2/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partialunavailable · 0/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
ARCHER LIMITED (ARCH.OL). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 1.2 bn USD in 2025; YoY growth 7.6%; net margin -4.9%; ROE -30.1%; net debt/EBITDA 3.1x.
The estimated value range is 6.56–9.17 USD per share (median of 1 methods, agreement: single method); assumptions are illustrative. The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 4 of at least 6; score weight coverage: 31.2% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
No signal among the computed factors. That is not an absence of risk: factors without data were not assessed, and business risks (margins, inventory, demand) are in the source-based analysis.
What contradicts it
- Net margin: -4.9%
- Net debt / EBITDA: 3.1x
- Current ratio: 1.0x
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Interest coverage, P/E (TTM), EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Norway · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AKER.OLAker Asa | 79.8 bn | 20.3 | 7.9% | 21.4% | +42.5% | +36% / +59% |
| AFG.OLAf Gruppen Asa | 21.5 bn | 19.8 | 39.7% | 3.4% | +4.4% | +8% / +69% |
| ELK.OLElkem Asa | 19.2 bn | 39.3 | 1.9% | 2.7% | −15.7% | +10% / +73% |
| ATEA.OLAtea Asa | 18.5 bn | 21.4 | 19.7% | 2.3% | +8.1% | +11% / +36% |
| AKSO.OLAker Solutions Asa | 17.4 bn | 6.8 | 22.5% | 4.1% | +19.2% | +18% / −12% |
| AUSS.OLAustevoll Seafood Asa | 16.6 bn | 37.1 | 1.6% | 1.1% | +11.1% | −7% / +10% |
| BRG.OLBorregaard Asa | 15.6 bn | 25.1 | 11.4% | 8.0% | +1.3% | −18% / −9% |
| BONHR.OLBonheur ASA | 11.2 bn | 7.8 | 17.1% | 11.4% | −10.8% | +17% / +44% |
| AFK.OLArendals Fossekompani Asa | 10.3 bn | — | -2.3% | -3.1% | −14.9% | +39% / +31% |
| B2I.OLB2 Impact Asa | 8.8 bn | 14.3 | 11.0% | 16.4% | +2.6% | +40% / +238% |
| AKVA.OLAkva Group Asa | 5.7 bn | 31.2 | 13.7% | 4.2% | +24.4% | +74% / +152% |
| ELMRA.OLElmera Group Asa | 5.1 bn | 32.0 | 10.5% | 1.3% | −0.9% | +32% / +98% |
| BOUV.OLBouvet Asa | 5.0 bn | 14.2 | 80.7% | 9.2% | −0.2% | −19% / −16% |
| CLOUD.OLCloudberry Clean Energy Asa | 4.0 bn | 61.9 | 1.3% | 13.1% | +34.0% | −5% / +29% |
| ABG.OLAbg Sundal Collier Holding Asa | 3.6 bn | 10.7 | 34.9% | 16.8% | +12.4% | −13% / +20% |
| ANDF.OLAndfjord Salmon Group As | 2.2 bn | — | -5.7% | -12,770.4% | +328.9% | −18% / −11% |
| BMA.OLByggma Asa | 1.6 bn | — | -25.3% | -11.9% | −2.5% | +61% / +15% |
| APR.OLAppear Asa | 1.4 bn | 10.5 | 30.1% | 16.1% | +32.3% | −53% / unavailable |
| AZT.OLArcticzymes Technologies Asa | 1.1 bn | 108.9 | 2.9% | 8.6% | +7.9% | −8% / −48% |
| CAPSL.OLCapsol Technologies Asa | 884.6 m | — | -89.4% | -114.8% | −25.0% | −33% / −66% |
| BOR.OLBorgestad Asa | 553.2 m | 36.1 | 2.1% | 1.4% | −3.0% | −7% / +41% |
| ARR.OLArribatec Group Asa | 234.6 m | 4.8 | 22.1% | 9.3% | +15.7% | −33% / −55% |
| DELIA.OLDellia Group Asa | 73.5 m | 1.5 | 22.6% | 7.7% | +140.0% | −62% / unavailable |
| ABTEC.OLAqua Bio Technology Asa | 11.1 m | 0.1 | — | 7,297.7% | −87.2% | −82% / −97% |
| AGLX.OLAgilyx Asa | — | — | -182.4% | -12,189.3% | +20.3% | −40% / −41% |
1- and 3-year price returns: for ARCH.OL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Scenarios are not available. input data missing
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Archer Limited provides drilling and well services to operators in the North Sea and Argentina. The company is exposed to oil and gas prices, customer concentration and political risk in Argentina, while a contract backlog of about 3.6 billion USD shows how much of its near-term activity is already contracted 1.
SWOT
Strengths
Weaknesses
Opportunities
Risks
- Dependence on oil and gas priceshigh
Price declines can lead customers to postpone or cancel projects and reduce activity 1.
- Customer concentrationhigh
Two energy companies generate a major part of group revenues, and losing either would significantly affect results 1.
- Political and currency risk in Argentinahigh
Capital controls and policy changes in Argentina could limit the use of locally generated cash 1.
- Acquisition and divestment riskmedium
Integrating acquired companies and completing divestments can generate unexpected losses or retained liabilities 1.
- Contract termination riskmedium
Customers may renegotiate or terminate contracts, and penalties may not fully compensate for lost work 1.
Investment thesis
What would need to be true (bull case)
- If the backlog converts into steady revenue and major customers maintain activity, the company could have good visibility over the medium term 1.
- If Vaca Muerta projects develop as planned, demand for services in Argentina could grow 1.
- Permanent abandonment activity in the North Sea could partly offset declining production 1.
What would break the thesis
What to watch
- Evolution of the contract backlog and extension optionsnext 10-K
- Share of operating revenues from Equinor and Pan American Energy2026
- Lifting of Argentine capital controls and payments between group entities2026
- Final financial outcome of the divestment of the southern Argentina workover business2026
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the annual report for fiscal 2025, Archer operates in oilfield services, with significant operations in the North Sea and Argentina 1. Contracts are usually awarded through competitive bids, where price is often the decisive factor 1. The company made several acquisitions in 2024 and 2025 and sold part of its land drilling business 1.
Segments
Market context
Demand for Archer's services depends on exploration, development and production spending by its oil and gas customers, which reacts quickly to crude and gas prices 1. The market is competitive, with larger service companies and smaller regional firms, and an oversupply of rigs can quickly reduce utilization rates and day rates 1.
In the North Sea the region is mature, and finding new prospects of sufficient size is becoming harder 1. The energy transition could reduce demand over the medium term, although its pace remains uncertain 1.
Trends
- Decline of North Sea productionheadwind
If oil and gas production in the North Sea falls faster than permanent abandonment activity grows, demand for drilling services could decline 1.
- Permanent abandonment of fieldstailwind
Permanent abandonment and decommissioning of wells can create new activity for operators, with a timing that remains uncertain 1.
- Vaca Muerta development in Argentinamixed
Pipeline investment, legislative reform and LNG export projects could create demand for Archer's services in Argentina if financing and approvals materialise 1.
- Consolidation through acquisitions and divestmentsmixed
Acquisitions in 2024 and 2025 and asset sales bring integration work and recognised losses while the portfolio is reshaped 1.
Competitive position
Archer competes with several oilfield service companies larger than itself and with smaller firms that can be more competitive regionally 1. Contracts are mostly won through tenders, where price and technical capability are key criteria 1.
Larger competitors can better withstand industry downturns and invest more readily in new equipment, which could affect Archer's revenues if it does not adapt 1. The company's position depends on the prices it offers and the availability of its equipment 1.
- Larger oilfield service companies
The source notes that some industry peers have resources considerably greater than Archer's, without naming them 1.
- Smaller regional firms
Local or regional competitors that can compete effectively on price, described generically in the report 1.
- Operators tendering contracts in the region
Customers may negotiate directly or tender contracts, which puts pressure on day rates 1.
- Providers of newly built rigs
New rig construction can reduce utilization rates if supply grows faster than demand 1.
News & filings
In the press
- Kill the archer, not the arrows: Ukraine asked Trump again and again to free Starshield against Russia’s ballistic launchersEuromaidan Press (UA, EN) · 03 Nov 2026 · EN
- (Asiad) Compound archer regroups to win individual gold after disappointing team performanceYonhap News (KR, EN) · 01 Oct 2026 · EN
- (Asiad) Archer vows to build on confidence gained in debutYonhap News (KR, EN) · 01 Oct 2026 · EN
- (Asiad) Teen archer rejoices after beating role model for bronzeYonhap News (KR, EN) · 01 Oct 2026 · EN
- (Asiad) Teen archer voices confidence in another medal after helping team to bronzeYonhap News (KR, EN) · 30 Sept 2026 · EN
- Archer-Daniels Midland Vs. Bunge: These Two U.S. Agribusinesses Soar If the Trump-Xi Summit Yields ConcessionsYahoo Finance — News · 22 Sept 2026 · EN
- Archer Aviation vs. Rocket Lab: Which Aerospace Stock Is a Better Buy in 2026?Yahoo Finance — News · 21 Sept 2026 · EN
- Is Archer Aviation Stock a No-Brainer Buy While It's Trading Near $5?Yahoo Finance — News · 21 Sept 2026 · EN
- Archer Aviation Trades Near $5. Could a $5,000 Investment Set You Up for Life?Yahoo Finance — News · 20 Sept 2026 · EN
- Cathie Wood Sold Palantir and AMD, Then Poured $3.35 Million Into Archer Aviation. Is ARK Betting Big on Flying Taxis?Yahoo Finance — News · 19 Sept 2026 · EN
- Latvia chooses Czech howitzers over Swedish Archer offerDefense News (US, EN) · 18 Sept 2026 · EN
- Target Hospitality CEO Archer Buys 13,385 SharesYahoo Finance — News · 17 Sept 2026 · EN
- Joby Slips and Is Down 53% This Year as the eVTOL Trade Keeps Unwinding; Archer Dips, EHang EasesYahoo Finance — News · 15 Sept 2026 · EN
- Is Archer-Daniels-Midland Stock Outperforming the Nasdaq?Yahoo Finance — News · 14 Sept 2026 · EN
- Should You Buy Archer Aviation Stock While It's Below $6?Yahoo Finance — News · 12 Sept 2026 · EN
- Better eVTOL Stock: Archer Aviation vs. Joby AviationYahoo Finance — News · 10 Sept 2026 · EN
- Why Archer Aviation Skyrocketed 24.6% Last MonthYahoo Finance — News · 08 Sept 2026 · EN
- Should You Buy Archer Aviation Below $6?Yahoo Finance — News · 07 Sept 2026 · EN
- Buying Archer Aviation Today Could Set You Up for LifeYahoo Finance — News · 06 Sept 2026 · EN
- Archer-Daniels-Midland (ADM) Bets Big On Oilseed Crush CapacityYahoo Finance — News · 01 Sept 2026 · EN
Annual reports (ESEF)
- Annual report 202521 Oct 2026
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Archer Limited · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.