ABG Sundal Collier Holding ASA (ABGSF)
Valor JustoFundamental
53
Preço
$7.30
Capitalização de Mercado
$3.81B
Parte 1 · Quanto vale a empresa
Visão Geral
ABG Sundal Collier is a Nordic investment bank and stockbroker headquartered in Oslo, with offices across Norway, Sweden, Denmark and other European financial centres. It advises companies on mergers, acquisitions and capital raises, and it trades and researches Nordic-listed stocks on behalf of institutional investors. It does not take deposits or lend like a commercial bank: its income is service fees and trading commissions, tied to how much dealmaking and share trading happens in the Nordic market.
Como gera receita
Revenue comes from three activities: advising on equity and debt issuance (Corporate Financing), advising on mergers, acquisitions and restructurings (M&A), and buying and selling Nordic shares on clients' behalf while publishing research on them (Brokerage). Fees are earned per transaction or per trade rather than as a recurring subscription, so income rises and falls with how active Nordic companies and investors are — a slow year for IPOs or takeovers shows up directly in revenue.
Receita por segmento
Fees for advising on mergers, acquisitions, restructurings and similar corporate transactions across the Nordic region.
Advisory and execution fees for helping companies raise equity and debt — share issues, bond placements and related capital markets work.
Commissions from executing trades in Nordic-listed shares for institutional clients, alongside equity research that supports that trading.
Vantagem competitiva
Nenhuma vantagem identificada · NenhumaABG Sundal Collier competes with larger international investment banks and other Nordic brokers on every mandate; nothing locks a client into using it again for the next deal. Its edge, if any, is local relationships and sector knowledge in a fragmented, relationship-driven business rather than a structural barrier competitors cannot cross.
O que impulsiona a procura
CíclicoIncome depends on how much capital-raising and dealmaking Nordic companies are doing: in 2025 M&A advisory revenue rose 44% while Corporate Financing (equity and debt issuance) fell 7%, and Brokerage held broadly stable — a mix that can swing sharply from one year to the next with market conditions.
Principais riscos
- Revenue tied to capital markets activity — Fee income depends on the volume of IPOs, share issues and M&A deals in the Nordic market; a quiet year for dealmaking reduces revenue directly, as seen in the swings across its 2025 segments.
- Market and trading risk — The firm is exposed to market, credit, liquidity, operational and currency risk from its trading and brokerage activities, which can produce losses independent of client fee income.
- Exposure to macro and geopolitical shocks — The company names political instability, trade tensions and geopolitical conflict among the risks that could unsettle the markets and clients it depends on, even though it considers its home markets stable.
Os argumentos a favor
Buyers argue that ABG Sundal Collier's local Nordic relationships and lean cost base let it win advisory mandates that Nordic issuers might otherwise send to larger international banks, and that 2025's swing back toward strong M&A activity shows the business scaling profitably as capital markets recover.
Os argumentos contra
Sellers worry that the business has no structural moat protecting it from larger competitors, that its revenue is inherently lumpy and hard to forecast because it tracks the Nordic deal cycle, and that a slowdown in capital markets activity would hit fee income quickly with little recurring revenue to cushion the fall.
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
Oslo-headquartered independent full-service investment bank that bids for the same Nordic equity and bond mandates, M&A advisory work and institutional brokerage clients as ABG Sundal Collier.
Independent Norwegian investment bank competing head-on for ECM, high-yield bond and M&A mandates from the same Nordic corporate issuers, often sitting alongside or against ABGSC in the same bookrunner syndicates.
After absorbing Carnegie into DNB Markets, its DNB Carnegie division is the largest Nordic investment bank and competes directly with ABGSC on corporate finance, M&A advisory and equity research and brokerage.
Its Large Corporates & Financial Institutions arm competes for the same Nordic IPO, capital-raising and M&A mandates and for the same institutional equity commissions, especially in Sweden and Denmark.
Nordea's investment banking and markets unit pitches for the same Nordic corporate issuers and sponsor clients on equity, debt and advisory mandates that ABGSC targets.
Balanço & Liquidez
Receita
$2.40B
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Resultado Líquido
$360M
Últimos 12 meses até o último trimestre divulgado — estimativa a partir de métricas por ação
Fluxo de Caixa Livre
-
Capital Próprio Total
$1.02B
Passivo Total
$546M
Rácio de Liquidez
1.07
Cobertura de Juros
-
Dívida/EBITDA
-
Resultados Por Ação
Receita & Resultado Líquido
Fluxo de Caixa Livre
Decomposição dos Resultados
Demonstração histórica
Margens ao longo do tempo
A dívida ao longo do tempo
Quanto pesa a dívida
Grelha do crescimento
Crescimento — Receitas
Estimativa de Valor Justo
Valor Justo
$9.25
Preço Atual
$7.30
Margem de Segurança
+21.1%
Intervalo de Valor Justo
$6.77 - $11.73
Dispersão entre os métodos de avaliação utilizados, não um intervalo de confiança calibrado estatisticamente.
Métodos de Estimativa
Métricas de Avaliação
Rácio P/E
10.57
ROE
42.1%
Rácio P/B
3.75
P/FCF
-
Margem Bruta
100.0%
ROIC
27.0%
Radar de Rentabilidade
Criação de Valor (Vantagem Competitiva)
ROIC
27.0%
WACC
7.0%
ROIC − WACC
+20.0 pp
O ROIC supera o custo do capital — a empresa está a criar valor para os acionistas.
Critérios de Análise Fundamental
Aprovado (7)
- ROIC 26.9%
- Gross Margin 100.0%
- Debt/Equity ratio
- Operating Margin 21.9%
- Current Ratio
- ROE 38.4%
- Analyst Consensus 67% Buy
Reprovado (8)
- Price CAGR 3.41%
- P/B Ratio 3.75
- Price below Graham Number
- DCF valuation (Unknown)
- Revenue Growth 5Y 2.4%
- Earnings Surprise avg -24.2%
- Net Margin Trend 0.0% vs 17.5%
- Piotroski F-Score 2/9
Indisponível (12)
- EPS data insufficient
- P/FCF NaN
- Dividend Payout NaN%
- Positive Free Cash Flow
- CapEx intensity
- Interest Coverage
- Debt/EBITDA
- Return on Tangible Assets
- Low reliance on intangibles
- PEG Ratio (need PE > 0 and growth > 0)
- Earnings Quality (OCF/Net Income)
- Share Dilution (missing shares data)
Piotroski F-Score
Preocupações financeiras graves
Qualidade dos Resultados
Baixa qualidade: investigar a contabilidade
Diluição de Ações
A recomprar ações. Favorável ao acionista
Participações institucionais
Não há declarações institucionais para esta empresa.
Governação
Equipa Executiva
| Nome | Cargo | Idade |
|---|---|---|
| Mr. Kristian B. Fyksen | Interim CEO, Head of Investment Banking & CEO ABGSC Norway | - |
| Mr. Geir B. Olsen | Chief Financial Officer | 47 |
| Ms. Jessica Blink | Head of Legal | - |
| Mr. Jonas Strom | Senior Partner | - |
| Mr. John A. Schj. Olaisen | Head of Research | - |
Risco de Auditoria
7
Risco do Conselho
10
Risco de Remuneração
10
Risco dos Direitos dos Acionistas
1
Parte 2 · O preço e o momento de entrar
Esta parte não serve para saber se a empresa vale: serve para escolher quando comprá-la, depois que os fundamentos te convenceram. Dentro: análise técnica, potencial, quedas históricas, exposição gama.
Latest News
Recent headlines for ABGSF, sourced from Markets Gazette.