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Aker BP ASA (AKRBF)

NEUTRAL
EnergyOil & Gas E&PNorway

Fundamental

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 · Estrecha

Aker 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

Cíclico

As 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

Equinor ASAEQNR

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.

Vår Energi ASAVAR

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.

DNO ASADNO

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.

Harbour Energy plcHBR

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.

OKEA ASAOKEA

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

Valoración Justa

Valor Justo

$307.15

Precio Actual

$348.40

Margen de Seguridad

-13.4%

Rango de Valor Justo

$199.65 - $414.66

Métodos de Estimación

Analyst Target:$329.25
DCF:$379.92
PE-based:$221.88
Graham Growth:$561.69
EPV:$74.61
Consenso de Analistas:Comprar (13B / 11H / 4S)
Última Sorpresa de Resultados:-12.72%

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

2/9

Preocupaciones financieras graves

score
criteria

Calidad de los Beneficios

6.94

Alta calidad: beneficios respaldados por efectivo

Dilución de Acciones

-

Recomprando acciones. Favorable para el accionista

Gobernanza

Equipo Directivo

NombreCargoEdad
Mr. Karl Johnny HersvikChief Executive Officer53
Mr. David Torvik TonneChief Financial Officer40
Mr. Per Harald KongelfChief Operating Officer66
Mr. Thomas Ditlev Hoff-HansenChief Information Officer53
Ms. Marit BlaasmoSenior Vice President of People and Safety50
Mr. Arne Tommy SigmundstadSenior Vice President of Drilling & Wells55
Mr. Ole-Johan MolvigSenior Vice President of Valhall53
Mr. Knut Arne Kristian SandvikSenior Vice President of Projects63
Ms. Ine DolveSenior Vice President of Alvheim50
Mr. Lars HoeierSenior Vice President- NOAKA58

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.

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