olivLaw · European equity research
Atea Asa ATEA.OL
Norway · Euronext Oslo Børs · ISIN NO0004822503 · Vertical: Listed companies from Norway
At the close of 03 Nov 2026, Atea Asa (ATEA.OL) stock was 167.60 NOK (−0.83% on the day), with market capitalisation 18.7 bn NOK, P/E 21.7 on diluted EPS of 7.73 NOK over the last 12 months, dividend yield 4.17%, beta 0.33, 52-week range 136.40–178.60 NOK.
Data as of · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
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Technical reading
- RSI (14)
- 50.9
- neutral
- Bollinger (20, 2)
- 157.81 – 173.57
- in the upper half of the band · %B 0.62 · band width 9.5%
- SMA 50 / 200
- 167.90 / 159.35
- mixed trend
- MACD (12, 26, 9)
- 0.74 / 0.06
- MACD above 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 | +1.0% | −1.5% | +2.5 pp | — |
| 3 months | −2.0% | −5.3% | +3.3 pp | — |
| 6 months | +4.6% | +4.7% | −0.1 pp | — |
| Year to date | +6.2% | +6.0% | +0.2 pp | — |
| 1 year | +8.1% | +8.2% | −0.1 pp | −4.0% |
| 3 years | +39.0% | +47.2% | −8.2 pp | +18.7% |
| 5 years | +5.3% | +41.8% | −36.5 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
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.
Today's P/E sits at the 100 percentile of its own 3-quarter history (min 18.1, median 20.4, max 20.8; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 34.7 bn | 34.6 bn | 37.4 bn |
| Revenue YoY | unavailable | −0.4% | +8.1% |
| Net income | 800.0 m | 767.0 m | 878.0 m |
| Net income YoY | unavailable | −4.1% | +14.5% |
| Diluted EPS | 7.14 | 6.80 | 7.73 |
| Diluted EPS YoY | unavailable | −4.8% | +13.7% |
| net % | 2.3% | 2.2% | 2.3% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 1.6 bn NOK
- Financial debt
- 588.0 m NOK
- Net debt
- -1.0 bn NOK
- Equity
- 4.5 bn NOK
- Total assets
- 21.3 bn NOK
- Debt / equity
- 0.13x
- Current ratio
- 0.94x
- ROE
- 19.7%
- ROA
- 4.1%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (NOK)
Margins
Income statement · NOK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 34.7 bn | 34.6 bn | 37.4 bn | esef· 21 Oct 2026verified |
| Cost of revenue | 24.5 bn | 24.2 bn | 26.3 bn | esef· 21 Oct 2026verified |
| Gross profit | 10.2 bn | 10.4 bn | 11.1 bn | esef· 21 Oct 2026verified |
| Operating income | 1.2 bn | 1.2 bn | 1.4 bn | esef· 21 Oct 2026verified |
| Depreciation & amortisation | 688.0 m | 736.0 m | 779.0 m | esef· 21 Oct 2026verified |
| EBITDA | 1.9 bn ≈ | 1.9 bn ≈ | 2.2 bn ≈ | esef· 21 Oct 2026derived |
| Interest expense | 247.0 m | 195.0 m | 254.0 m | esef· 21 Oct 2026verified |
| Pre-tax income | 1.0 bn | 992.0 m | 1.1 bn | esef· 21 Oct 2026verified |
| Income tax | 221.0 m | 224.0 m | 263.0 m | esef· 21 Oct 2026verified |
| Net income | 800.0 m | 767.0 m | 878.0 m | esef· 21 Oct 2026verified |
| Diluted EPS | 7.14 | 6.80 | 7.73 | esef· 21 Oct 2026verified |
| Dividend per share | 6.25 | 7.00 | 6.99 | esef· 21 Oct 2026derived |
≈ computed by olivLaw from the reported lines of the same year: Operating income + Depreciation & amortisation.
Balance sheet · NOK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 1.6 bn | 2.0 bn | 1.6 bn | esef· 21 Oct 2026verified |
| Inventories | 785.0 m | 974.0 m | 974.0 m | esef· 21 Oct 2026verified |
| Current assets | 11.4 bn | 13.6 bn | 13.8 bn | esef· 21 Oct 2026verified |
| Property, plant & equipment, net | 514.0 m | 498.0 m | 563.0 m | esef· 21 Oct 2026verified |
| Goodwill | 4.3 bn | 4.5 bn | 4.5 bn | esef· 21 Oct 2026verified |
| Intangibles (excl. goodwill) | 572.0 m | 712.0 m | 753.0 m | esef· 21 Oct 2026verified |
| Total assets | 18.5 bn | 21.1 bn | 21.3 bn | esef· 21 Oct 2026verified |
| Short-term debt | 5.0 m | 4.0 m | — | esef· 08 May 2025verified |
| Long-term debt | 588.0 m | 588.0 m | 588.0 m | esef· 21 Oct 2026verified |
| Current liabilities | 12.3 bn | 14.6 bn | 14.7 bn | esef· 21 Oct 2026verified |
| Total liabilities | 14.3 bn | 16.7 bn | 16.8 bn | esef· 21 Oct 2026verified |
| Equity | 4.1 bn | 4.4 bn | 4.5 bn | esef· 21 Oct 2026verified |
| Shares outstanding at year end | 110.8 m | 111.6 m | 111.6 m | esef· 21 Oct 2026derived |
Cash flow · NOK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Operating cash flow | 1.9 bn | 2.0 bn | 1.2 bn | esef· 21 Oct 2026verified |
| Investing cash flow | -320.0 m | -421.0 m | -418.0 m | esef· 21 Oct 2026verified |
| Financing cash flow | -1.1 bn | -1.2 bn | -1.3 bn | esef· 21 Oct 2026verified |
| Dividends paid | 693.0 m | 782.0 m | 780.0 m | esef· 21 Oct 2026verified |
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
Score: 62 / 100
A scoring methodology on indicators and valuation, not investment advice.
Closing price
03 Nov 2026Source: olivLaw, closing series
Market cap: 18.7 bn NOK
Key indicators
Coverage and freshness
Score by group
- Balance sheet60
- Valuation54
- Quality74
- Returns60
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Neutral profile · Score 62/100
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | 32.7% | 91 (vs peers) | 16% |
| Net margin · Quality | 2.3% | 45 (vs peers) | 10% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | -0.5x | 80 (vs peers) | 16% |
| Interest coverage · Balance sheet | 5.4x | 60 (on a fixed band) | 10% |
| Current ratio · Balance sheet | 0.9x | 11 (on a fixed band) | 6% |
| P/E (TTM) · Valuation | 21.7x | 42 (vs peers) | 16% |
| EV/EBITDA · Valuation | 8.2x | 67 (vs peers) | 16% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 4.2% | 60 (on a fixed band) | 10% |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet60/100 · 3/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality74/100 · 2/3 factors with a value
- Returns· partial60/100 · 1/2 factors with a value
- Valuation54/100 · 2/3 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
ATEA ASA (ATEA.OL). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 37.4 bn NOK in 2025; YoY growth 8.1%; net margin 2.3%; ROE 19.7%; net debt/EBITDA -0.5x.
The estimated value range is 68.58–215.01 NOK per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 136.96 NOK, the price of 167.60 NOK leaves a potential of -18.3% (value / price − 1) and a margin of safety of -22.4% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
olivLaw score 62/100, methodological classification: neutral profile (score, margin of safety and method agreement together; not a judgement of the right price). Groups assessed only in part: growth, returns. Not investment advice.
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- ROIC: 32.7%
- Net debt / EBITDA: -0.5x
What contradicts it
- Current ratio: 0.9x
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, FCF yield, 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 | 83.2 bn | 21.2 | 7.9% | 21.4% | +42.5% | +42% / +66% |
| AFG.OLAf Gruppen Asa | 21.6 bn | 19.9 | 39.7% | 3.4% | +4.4% | +9% / +70% |
| ELK.OLElkem Asa | 19.6 bn | 40.2 | 1.9% | 2.7% | −15.7% | +12% / +77% |
| ATEA.OLAtea Asa | 18.7 bn | 21.7 | 19.7% | 2.3% | +8.1% | +13% / +38% |
| AKSO.OLAker Solutions Asa | 17.4 bn | 6.8 | 22.5% | 4.1% | +19.2% | +18% / −12% |
| AUSS.OLAustevoll Seafood Asa | 16.4 bn | 36.5 | 1.6% | 1.1% | +11.1% | −8% / +9% |
| BRG.OLBorregaard Asa | 15.2 bn | 24.5 | 11.4% | 8.0% | +1.3% | −20% / −11% |
| BONHR.OLBonheur ASA | 11.2 bn | 7.9 | 17.1% | 11.4% | −10.8% | +18% / +45% |
| AFK.OLArendals Fossekompani Asa | 10.3 bn | — | -2.3% | -3.1% | −14.9% | +38% / +30% |
| B2I.OLB2 Impact Asa | 8.5 bn | 13.9 | 11.0% | 16.4% | +2.6% | +36% / +229% |
| AKVA.OLAkva Group Asa | 5.8 bn | 31.3 | 13.7% | 4.2% | +24.4% | +74% / +153% |
| BOUV.OLBouvet Asa | 5.5 bn | 15.6 | 80.7% | 9.2% | −0.2% | −11% / −7% |
| ELMRA.OLElmera Group Asa | 5.1 bn | 32.0 | 10.5% | 1.3% | −0.9% | +32% / +98% |
| CLOUD.OLCloudberry Clean Energy Asa | 3.8 bn | 59.1 | 1.3% | 13.1% | +34.0% | −9% / +23% |
| ABG.OLAbg Sundal Collier Holding Asa | 3.7 bn | 10.8 | 34.9% | 16.8% | +12.4% | −12% / +21% |
| ANDF.OLAndfjord Salmon Group As | 2.3 bn | — | -5.7% | -12,770.4% | +328.9% | −14% / −6% |
| BMA.OLByggma Asa | 1.7 bn | — | -25.3% | -11.9% | −2.5% | +68% / +20% |
| APR.OLAppear Asa | 1.4 bn | 10.9 | 30.1% | 16.1% | +32.3% | −51% / unavailable |
| AZT.OLArcticzymes Technologies Asa | 1.1 bn | 114.2 | 2.9% | 8.6% | +7.9% | −4% / −45% |
| CAPSL.OLCapsol Technologies Asa | 868.8 m | — | -89.4% | -114.8% | −25.0% | −34% / −67% |
| BOR.OLBorgestad Asa | 572.4 m | 37.4 | 2.1% | 1.4% | −3.0% | −4% / +46% |
| ARR.OLArribatec Group Asa | 235.6 m | 4.8 | 22.1% | 9.3% | +15.7% | −33% / −55% |
| DELIA.OLDellia Group Asa | 72.5 m | 1.5 | 22.6% | 7.7% | +140.0% | −62% / unavailable |
| ABTEC.OLAqua Bio Technology Asa | 11.9 m | 0.1 | — | 7,297.7% | −87.2% | −81% / −97% |
| AGLX.OLAgilyx Asa | — | — | -182.4% | -12,189.3% | +20.3% | −43% / −44% |
1- and 3-year price returns: for ATEA.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
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (NOK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 104.50 Total return -34% · Per year -34% | 184.44 Total return 15% · Per year 15% | 277.40 Total return 71% · Per year 71% |
| 3 years | 108.88 Total return -24% · Per year -9% | 215.50 Total return 43% · Per year 13% | 354.79 Total return 131% · Per year 32% |
| 5 years | 113.43 Total return -14% · Per year -3% | 251.79 Total return 77% · Per year 12% | 453.77 Total return 207% · Per year 25% |
- Exit P/E± 53.88
- Net margin± 37.71
- Annual revenue growth± 29.93
- Annual dilution± 3.17
AI analysis
The qualitative analysis has not been written for this company yet.
Products, market & competition
The qualitative analysis has not been written for this company yet.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202521 Oct 2026
- Annual report 202408 May 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.