Kongsberg Gruppen maintains a healthy balance between its civil (60% of revenue) and defense sectors (40% of the revenue). We believe that the company has a positive outlook, supported by strong civil and defense order backlogs and increasing aftermarket business.
KOG is trading within a range we consider fairly valued.
Price
NOK 878.00
Fair Value
NOK 317.00
Uncertainty
Medium
1-Star Price
NOK 4,879.60
5-Star Price
NOK 698.00
Economic Moat
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Capital Allocation
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Bulls Say, Bears Say
Bulls
Kongsberg's marine revenue and operating margins will continue to trend higher, largely due to the successful scaling and integration of Rolls-Royce Commercial Marine.
Bears
New shipbuilding activities continue to be subdued due to increased costs and uncertainty regarding the commercial viability of various zero-emission fuels.
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Kongsberg Gruppen is an international technology company that supplies products and services to the defense, maritime, oil, gas, and aerospace industries. The company is divided into two business segments: the maritime segment and defense and aerospace systems. Maritime, which earns most of the firm's revenue, creates navigation, automation, monitoring, and positioning products for commercial ships and offshore industries. The defense and aerospace segment provides defense and space-related products and systems. Outside of the two main segments, the firm operates Kongsberg Digital, which produces digital solutions for oil, gas, wind, and merchant marine markets. Products are delivered globally, with North America accounting for about one third of total revenue.