Aker BP ASA (AKRBF)
NEUTRALFundamental
48
Precio
$348.40
Capitalización Bursátil
$222.76B
Parte 1 · Cuánto vale la empresa
Resumen
Aker BP explores for, develops and produces oil and gas exclusively on the Norwegian Continental Shelf. Rather than building fields from scratch everywhere, much of its strategy has been buying stakes in mature North Sea fields and modernising them with subsea technology and tied-back platforms to extract more oil at lower cost. It operates several field centres directly — Alvheim, Valhall, Skarv and Ula — and holds a large minority stake in Johan Sverdrup, one of Western Europe's largest oil fields, operated by Equinor.
Cómo genera ingresos
Revenue comes from selling the oil and gas it extracts at prevailing market prices, plus smaller tariff income for letting other operators use its pipelines and platforms. Because prices are set by global commodity markets, Aker BP cannot control what it is paid; it instead competes on cost. The company has driven its production cost down to roughly $7-8 per barrel, well below the $10-12 many rivals report, and estimates its projects remain profitable even if oil prices fall to $35-40 a barrel.
Ventaja competitiva
Ventaja de costes · EstrechaAker BP reports a production cost of roughly $7-8 per barrel against $10-12 for many peers, and a portfolio breakeven around $35-40 a barrel, achieved by concentrating on mature, already-developed North Sea infrastructure rather than costlier frontier exploration. The advantage is real but not permanent: it depends on continued access to Norwegian licenses and on fields that will eventually deplete.
Qué impulsa la demanda
CíclicoAs a pure commodity producer, revenue rises and falls with global oil and gas prices, which move with worldwide economic growth, OPEC+ supply decisions and geopolitical events far outside the company's control. Low production costs cushion profitability in a downturn, but do not insulate revenue itself from the swings in the price the company is paid.
Los argumentos a favor
Buyers argue that Aker BP's production cost of roughly $7-8 per barrel, far below the industry average, lets it stay profitable at oil prices where many competitors would struggle, and that its stake in the still-growing Johan Sverdrup field gives it years of low-cost production ahead.
Los argumentos en contra
Sellers worry that revenue still depends entirely on a commodity price the company cannot control, that its assets are concentrated on a single continental shelf subject to Norwegian tax and regulatory policy, and that today's low-cost fields will eventually deplete and need replacing with costlier ones.
Written by the editors, published on 18 de agosto de 2026
Direct competitors
Who this company fights with for the same customers
Generated on 23 de agosto de 2026 with claude-opus-5 — shared with all users
The dominant operator on the Norwegian continental shelf, competing with Aker BP for the same exploration acreage and operatorships in every licensing round and selling the same Norwegian crude and pipeline gas to European buyers.
The closest listed peer in profile: an independent producer focused almost entirely on the Norwegian continental shelf, chasing the same subsea tie-back projects, the same licence awards and the same oil and gas customers.
After the Sval Energi acquisition it holds well over a hundred Norwegian offshore licences and was the third-largest winner in the latest APA round, directly behind Aker BP in the race for North Sea and Norwegian Sea acreage.
Through its Norwegian arm it is both a licence partner and a rival bidder for Norwegian offshore acreage and producing-asset acquisitions, and it sells gas into the same European market.
A smaller Norwegian operator specialised in extending the life of mature offshore fields, competing with Aker BP for the same late-life assets, licence shares and offshore contractor capacity.
Balance y Liquidez
Ingresos
$11.86B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Beneficio Neto
$1.42B
Últimos 12 meses hasta el último trimestre publicado — estimación a partir de métricas por acción
Flujo de Caja Libre
$-353M
Patrimonio Neto Total
$108.33B
Pasivo Total
$9.73B
Ratio de Liquidez
1.20
Cobertura de Intereses
-
Deuda/EBITDA
0.96
Beneficio Por Acción
Ingresos y Beneficio Neto
Flujo de Caja Libre
Desglose de Ingresos
Estado histórico
Márgenes en el tiempo
La deuda en el tiempo
Cuánto pesa la deuda
Cuadro de crecimiento
Crecimiento — Ingresos
Estimación de Valor Justo
Valor Justo
$307.15
Precio Actual
$348.40
Margen de Seguridad
-13.4%
Rango de Valor Justo
$199.65 - $414.66
Métodos de Estimación
Métricas de Valoración
Ratio P/E
156.23
ROE
12.1%
Ratio P/B
19.75
P/FCF
-
Margen Bruto
90.1%
ROIC
6.0%
Radar de Rentabilidad
Value Creation (Economic Moat)
ROIC
6.0%
WACC
10.9%
ROIC − WACC
-4.9 pp
ROIC is below the cost of capital — the company is destroying value for every dollar invested.
Criterios de Análisis Fundamental
Superado (10)
- Price CAGR 9.01%
- ROIC 6.0%
- Gross Margin 90.1%
- Debt/Equity ratio
- Operating Margin 57.1%
- Current Ratio
- Debt/EBITDA
- Revenue Growth 5Y 29.7%
- PEG Ratio 1.46
- Earnings Quality (OCF/NI) 6.94
Fallido (9)
- P/B Ratio 19.75
- Positive Free Cash Flow
- Price below Graham Number
- DCF valuation (Unknown)
- ROE 1.1%
- Analyst Consensus 46% Buy
- Earnings Surprise avg -22.8%
- Net Margin Trend 1.2% vs 14.8%
- Piotroski F-Score 2/9
No disponible (8)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- CapEx intensity
- Interest Coverage
- Return on Tangible Assets
- Low reliance on intangibles
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupaciones financieras graves
Calidad de los Beneficios
Alta calidad: beneficios respaldados por efectivo
Dilución de Acciones
Recomprando acciones. Favorable para el accionista
Gobernanza
Equipo Directivo
| Nombre | Cargo | Edad |
|---|---|---|
| Mr. Karl Johnny Hersvik | Chief Executive Officer | 53 |
| Mr. David Torvik Tonne | Chief Financial Officer | 40 |
| Mr. Per Harald Kongelf | Chief Operating Officer | 66 |
| Mr. Thomas Ditlev Hoff-Hansen | Chief Information Officer | 53 |
| Ms. Marit Blaasmo | Senior Vice President of People and Safety | 50 |
| Mr. Arne Tommy Sigmundstad | Senior Vice President of Drilling & Wells | 55 |
| Mr. Ole-Johan Molvig | Senior Vice President of Valhall | 53 |
| Mr. Knut Arne Kristian Sandvik | Senior Vice President of Projects | 63 |
| Ms. Ine Dolve | Senior Vice President of Alvheim | 50 |
| Mr. Lars Hoeier | Senior Vice President- NOAKA | 58 |
Riesgo de Auditoría
2
Riesgo del Consejo
9
Riesgo de Compensación
6
Riesgo de Derechos del Accionista
1
Parte 2 · El precio y el momento de entrar
Esta parte no sirve para saber si la empresa vale: sirve para elegir cuándo comprarla, una vez que los fundamentales te han convencido. Dentro: análisis técnico, potencial, caídas históricas, exposición gamma.
Latest News
Recent headlines for AKRBF, sourced from Markets Gazette.