Vår Energi AS (VAR.OL) stock analysis

In our weekly check, Vår Energi AS is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 6, red flags: 3.

About Vår Energi AS

Vår Energi AS is an Energy company (Oil & Gas Exploration & Production) based in Norway, listed on OSL as VAR.OL.

What our checks show for VAR.OL

Red flags

• Net debt is 0.3x a year of EBITDA (debt/equity 51.91). That limits room in a downturn and raises refinancing risk.
• The gross margin fell by 24 points, to 58.8%: costs are rising faster than prices.
• Analysts expect revenue to shrink about 7.2% a year.

Warning signs

• Analysts expect earnings per share to shrink about 14.2% a year.
• Analysts expect the net margin to shrink by 2.1 points from today's 12.7%.
• The dividend takes 87% of profit: little cushion if profit falls.
• The price swings a lot: 37.6% annual volatility. Expect large ups and downs.
• The stock has fallen as much as 46% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 2.9 years.

Strengths

• Operating profit covers interest 23.5 times over.
• The net margin rose by 1.9 points over 5 years, to 12.7%.
• Operating cash flow is 3.82x net profit: the profit arrives as real cash.
• Earnings per share grew 15.3% a year over the last 3 years.
• Net profit grew 18.1% a year over the last 3 years.
• Free cash flow is 25.8% of revenue: cash for dividends, buybacks or growth.

Similar companies

COP · CNQ · AKRBP.OL · EOG · OXY · FANG

Questions

What grade does Vår Energi AS (VAR.OL) have?

In our weekly check, Vår Energi AS is graded B (A to F). Of 25 checks on debt, profit, cash flow and trend: 16 pass, warnings: 6, red flags: 3. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of VAR.OL stock?

This week's biggest flags for Vår Energi AS: High debt, Gross margin falling, Weak revenue forecast. In total 9 of 25 checks show a warning or a red flag.

What does Vår Energi AS do?

Vår Energi AS is an Energy company (Oil & Gas Exploration & Production) based in Norway, listed on OSL as VAR.OL.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-31

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