olivLaw · European equity research
Atea Asa ATEA.OL
Norway · Euronext Oslo Børs · ISIN NO0004822503 · Vertical: Listed companies from Norway
At the close of 04 Nov 2026, Atea Asa (ATEA.OL) stock was 170.40 NOK (+1.67% on the day), with market capitalisation 19.0 bn NOK, P/E 22.0 on diluted EPS of 7.73 NOK over the last 12 months, dividend yield 4.10%, beta 0.34, 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)
- 55.1
- strong (55–70)
- Bollinger (20, 2)
- 157.97 – 174.11
- in the upper half of the band · %B 0.77 · band width 9.7%
- SMA 50 / 200
- 167.78 / 159.39
- uptrend (price > SMA50 > SMA200)
- MACD (12, 26, 9)
- 0.89 / 0.22
- 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 | +3.0% | +0.4% | +2.6 pp | — |
| 3 months | −0.4% | −3.3% | +2.9 pp | — |
| 6 months | +4.7% | +4.0% | +0.7 pp | — |
| Year to date | +8.0% | +8.1% | −0.1 pp | — |
| 1 year | +11.4% | +10.7% | +0.7 pp | −5.7% |
| 3 years | +41.3% | +50.1% | −8.8 pp | +15.4% |
| 5 years | +9.2% | +43.6% | −34.4 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
04 Nov 2026Source: olivLaw, closing series
Market cap: 19.0 bn NOK
Key indicators
Coverage and freshness
Score by group
- Balance sheet60
- Valuation54
- Returns59
- Quality74
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 | 22.0x | 42 (vs peers) | 16% |
| EV/EBITDA · Valuation | 8.4x | 67 (vs peers) | 16% |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | 4.1% | 59 (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· partial59/100 · 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 68.58–216.47 NOK per share (median of 3 methods, agreement: low); assumptions are illustrative. Against the central value of 132.84 NOK, the price of 170.40 NOK leaves a potential of -22.0% (value / price − 1) and a margin of safety of -28.3% (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 | 85.6 bn | 21.8 | 7.9% | 21.4% | +42.5% | +46% / +70% |
| AFG.OLAf Gruppen Asa | 21.6 bn | 19.9 | 39.7% | 3.4% | +4.4% | +9% / +71% |
| ELK.OLElkem Asa | 19.6 bn | 40.2 | 1.9% | 2.7% | −15.7% | +12% / +77% |
| ATEA.OLAtea Asa | 19.0 bn | 22.0 | 19.7% | 2.3% | +8.1% | +15% / +40% |
| AKSO.OLAker Solutions Asa | 17.6 bn | 6.9 | 22.5% | 4.1% | +19.2% | +19% / −11% |
| AUSS.OLAustevoll Seafood Asa | 16.7 bn | 37.2 | 1.6% | 1.1% | +11.1% | −6% / +11% |
| BRG.OLBorregaard Asa | 15.5 bn | 25.1 | 11.4% | 8.0% | +1.3% | −18% / −10% |
| 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 | 8.7 bn | 14.2 | 11.0% | 16.4% | +2.6% | +39% / +236% |
| AKVA.OLAkva Group Asa | 5.8 bn | 31.3 | 13.7% | 4.2% | +24.4% | +74% / +153% |
| BOUV.OLBouvet Asa | 5.1 bn | 14.5 | 80.7% | 9.2% | −0.2% | −18% / −14% |
| ELMRA.OLElmera Group Asa | 5.1 bn | 32.0 | 10.5% | 1.3% | −0.9% | +32% / +98% |
| CLOUD.OLCloudberry Clean Energy Asa | 3.9 bn | 61.2 | 1.3% | 13.1% | +34.0% | −6% / +28% |
| ABG.OLAbg Sundal Collier Holding Asa | 3.7 bn | 10.9 | 34.9% | 16.8% | +12.4% | −11% / +22% |
| ANDF.OLAndfjord Salmon Group As | 2.2 bn | — | -5.7% | -12,770.4% | +328.9% | −14% / −7% |
| BMA.OLByggma Asa | 1.6 bn | — | -25.3% | -11.9% | −2.5% | +61% / +15% |
| APR.OLAppear Asa | 1.4 bn | 10.9 | 30.1% | 16.1% | +32.3% | −51% / unavailable |
| AZT.OLArcticzymes Technologies Asa | 1.1 bn | 110.5 | 2.9% | 8.6% | +7.9% | −7% / −47% |
| CAPSL.OLCapsol Technologies Asa | 868.8 m | — | -89.4% | -114.8% | −25.0% | −34% / −67% |
| BOR.OLBorgestad Asa | 563.7 m | 36.8 | 2.1% | 1.4% | −3.0% | −5% / +44% |
| ARR.OLArribatec Group Asa | 239.5 m | 4.9 | 22.1% | 9.3% | +15.7% | −31% / −54% |
| DELIA.OLDellia Group Asa | 73.4 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% | −41% / −42% |
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 | 106.25 Total return -34% · Per year -34% | 187.52 Total return 15% · Per year 15% | 282.04 Total return 71% · Per year 71% |
| 3 years | 110.69 Total return -25% · Per year -9% | 219.10 Total return 43% · Per year 13% | 360.72 Total return 130% · Per year 32% |
| 5 years | 115.33 Total return -15% · Per year -3% | 255.99 Total return 77% · Per year 12% | 461.35 Total return 206% · Per year 25% |
- Exit P/E± 54.78
- Net margin± 38.34
- Annual revenue growth± 30.43
- Annual dilution± 3.22
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.