Kongsberg Gruppen KOG.OL
Kongsberg Gruppen is a Norwegian industrial group specializing in defense and aerospace, designing and manufacturing missile systems, sensors, and naval and aerial defense solutions, as well as software for the maritime and energy industries. Kongsberg Gruppen shows solid financial health (negative net debt) and exceptional quality (ROE 32.64%, ROIC 37.02%), but its valuation is very demanding (P/E 52.38) and earnings growth is negative (-1.6%), limiting its appeal.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
Kongsberg Gruppen is a Norwegian industrial group specializing in defense and aerospace, designing and manufacturing missile systems, sensors, and naval and aerial defense solutions, as well as software for the maritime and energy industries. Kongsberg Gruppen shows solid financial health (negative net debt) and exceptional quality (ROE 32.64%, ROIC 37.02%), but its valuation is very demanding (P/E 52.38) and earnings growth is negative (-1.6%), limiting its appeal.
Score by category
| Category | Score |
|---|---|
| Financial health | 7.4 |
| Quality / Moat | 8.3 |
| Valuation | 1.4 |
| Growth | 6.8 |
| Dividend | 5.2 |
| Momentum | 4.2 |
| Risk & Context | 8.8 |
OVERALL SCORE: 6.0/10
Context and risks
Material legal risk from Malaysia's $251 million claim, which could impact results. Additionally, defense exposure carries regulatory and export control risk, though Norway has strong institutions.
News considered in the analysis
- 3 European Defense Stocks Investors Are Watching As NATO Risk Rises — El aumento del gasto en defensa de la OTAN es un viento de cola estructural para Kongsberg, pero ya está parcialmente descontado en su elevada valoración.
- Oceaneering International (OII) Joins Kongsberg On U.S. Navy XLUUV Program — La incorporación de un socio en el programa XLUUV refuerza la posición de Kongsberg en defensa naval, aunque el impacto financiero aún no es material.
- Kongsberg Gruppen ASA (NSKFF) Q2 2026 Earnings Call Highlights: Record Revenue and Strategic ... — Los ingresos récord en el segundo trimestre confirman la fortaleza operativa, pero el crecimiento de beneficios es negativo, lo que matiza la noticia.
- Malaysia seeks $251 million from Kongsberg after Norway scuttles missile deal — La reclamación de Malasia por 251 millones de dólares es una contingencia legal material que podría afectar a los resultados futuros.
- JWF receives contract awards from Kongsberg — Nuevos contratos con proveedores indican una cartera de pedidos sólida, aunque el impacto en beneficios es indirecto.
Verdict: Hold; quality and revenue growth justify the premium, but valuation and the Malaysia legal risk warrant caution.
Main risk: The $251 million claim from Malaysia and dependence on government defense contracts, which may be subject to regulatory or political changes.
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