Wide-moat Kongsberg reported strong first-quarter results. We are increasing our fair value estimate to NOK 850 from NOK 630 on the back of higher budgeted defense spending by Norway and Europe.
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.
New shipbuilding activities continue to be subdued due to increased costs and uncertainty regarding the commercial viability of various zero-emission fuels.
|
Metric
|
KOG
|
LDO
|
RHM
|
|---|---|---|---|
Price/Earnings (Normalized) | 39.10 | 16.55 | 44.41 |
Price/Book Value | 9.05 | 1.63 | 6.70 |
Price/Sales | 3.64 | 0.89 | 3.26 |
Price/Cash Flow | 31.11 | — | 24.93 |
|
Metric
|
KOG
|
LDO
|
RHM
|
|---|---|---|---|
Quick Ratio | 0.85 | — | 0.49 |
Current Ratio | 1.14 | — | 1.31 |
Interest Coverage | 14.44 | — | 8.21 |
|
Metric
|
KOG
|
LDO
|
RHM
|
|---|---|---|---|
Return on Assets (Normalized) | 8.32% | — | 5.73% |
Return on Equity (Normalized) | 26.82% | — | 19.83% |
Return on Invested Capital (Normalized) | 20.64% | — | 12.52% |
|
Ticker
|
Name
|
Morningstar Rating for Stocks
|
Capital Allocation
|
Economic Moat
|
Market Cap
|
|---|---|---|---|---|---|
GE
| GE Aerospace | Zbztljrm | Vhgm | $180.8 Bil | |
RTX
| RTX Corp | Ywccqybxcs | Zhp | $143.3 Bil | |
EADSY
| Airbus SE ADR | Sjyvyfpryd | Mkz | $135.9 Bil | |
LMT
| Lockheed Martin Corp | Jcpttpqkb | Bxtzn | $110.6 Bil | |
BA
| Boeing Co | Hjpdfwrn | Yxtb | $109.0 Bil | |
GD
| General Dynamics Corp | Ptzkcqww | Bsbp | $81.2 Bil | |
TDG
| TransDigm Group Inc | Dvcgjdwrh | Rlxv | $74.0 Bil | |
NOC
| Northrop Grumman Corp | Zwjnjmyphc | Wngc | $66.1 Bil | |
BAESY
| BAE Systems PLC ADR | Qprktgnsq | Vytk | $53.8 Bil | |
RYCEY
| Rolls-Royce Holdings PLC ADR | Cxmtflqm | Nnkhyh | $48.6 Bil |
