ATLASUndervalued Stocks in Norway (October 2026)
ATLAS compares every company's price with its estimated fair value. Of 129 listed companies in Norway, 32 trade between 10% and 70% below that estimate, with medium or high confidence in it and positive earnings. The median gap among them is 36% below fair value. Here are the 25 with the widest gap.
Data as of Oct 30, 2026. Prices and ratios are the latest stored close; this page refreshes at least every 6 hours.
| # | Company | Price | Below fair value |
|---|---|---|---|
| 1 | AKSO.OLAker Solutions | NOK 36.54 | 59% |
| 2 | NONG.OLSparebank 1 Nord-Norge | NOK 180.30 | 56% |
| 3 | ORK.OLOrkla | NOK 96.85 | 56% |
| 4 | MOWI.OLMowi | NOK 214.60 | 55% |
| 5 | TEL.OLTelenor | NOK 130.20 | 54% |
| 6 | LINK.OLLink Mobility | NOK 24.92 | 52% |
| 7 | EPR.OLEuropris | NOK 83.00 | 48% |
| 8 | LSG.OLLerøy Seafood | NOK 43.00 | 48% |
| 9 | WAWI.OLWallenius Wilhelmsen Logistics | NOK 171.00 | 47% |
| 10 | YAR.OLYara International | NOK 392.70 | 46% |
| 11 | SNTIA.OLSentia | NOK 84.40 | 42% |
| 12 | MING.OLSparebank 1 SMN | NOK 217.35 | 40% |
| 13 | MULTI.OLMulticonsult AS | NOK 136.60 | 39% |
| 14 | SPOL.OLSpareBank 1 Østlandet | NOK 201.85 | 38% |
| 15 | KID.OLKid | NOK 137.00 | 37% |
| 16 | VAR.OLVar Energi | NOK 57.60 | 37% |
| 17 | KCC.OLKlaveness Combination Carriers | NOK 115.20 | 35% |
| 18 | ODF.OLOdfjell | NOK 123.40 | 33% |
| 19 | SOFF.OLSolstad Offshore | NOK 71.40 | 32% |
| 20 | BEWI.OLBewi | NOK 17.84 | 32% |
| 21 | MPCC.OLMPC Container Ships | NOK 27.97 | 31% |
| 22 | AFG.OLAF Gruppen | NOK 194.20 | 27% |
| 23 | PARB.OLPareto Bank | NOK 49.00 | 26% |
| 24 | BRG.OLBorregaard | NOK 157.40 | 25% |
| 25 | HELG.OLHelgeland Sparebank | NOK 170.00 | 25% |
Fair value gap: a negative number means the price is below ATLAS fair value. "Chance up" is the probability of a higher close in 21 trading sessions (about a month) in ATLAS's calibrated model.
The top 10 in a sentence
- Aker Solutions (AKSO.OL) trades 59% below ATLAS fair value, at a P/E of 5.3. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 51% chance of closing higher in a month.
- Sparebank 1 Nord-Norge (NONG.OL) trades 56% below ATLAS fair value, at a P/E of 12.1. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 53% chance of closing higher in a month.
- Orkla (ORK.OL) trades 56% below ATLAS fair value, at a P/E of 14.6. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 53% chance of closing higher in a month.
- Mowi (MOWI.OL) trades 55% below ATLAS fair value, at a P/E of 15.5. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 53% chance of closing higher in a month.
- Telenor (TEL.OL) trades 54% below ATLAS fair value, at a P/E of 7.8. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 54% chance of closing higher in a month.
- Link Mobility (LINK.OL) trades 52% below ATLAS fair value, at a P/E of 40.0. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 50% chance of closing higher in a month.
- Europris (EPR.OL) trades 48% below ATLAS fair value, at a P/E of 16.3. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 54% chance of closing higher in a month.
- Lerøy Seafood (LSG.OL) trades 48% below ATLAS fair value, at a P/E of 37.1. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 52% chance of closing higher in a month.
- Wallenius Wilhelmsen Logistics (WAWI.OL) trades 47% below ATLAS fair value, at a P/E of 10.7. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 50% chance of closing higher in a month.
- Yara International (YAR.OL) trades 46% below ATLAS fair value, at a P/E of 7.6. ATLAS rates its confidence in that estimate as medium. ATLAS gives it a 52% chance of closing higher in a month.
How ATLAS finds undervalued stocks in Norway
Fair value is ATLAS estimate of what a share is worth given the company's cash flows and the multiples of comparable companies, refreshed every night. The gap is price divided by fair value, minus 1. We keep gaps between 10% and 70% below fair value: deeper gaps usually signal bad inputs or a business in trouble rather than a bargain.
Only estimates with medium or high confidence count. The company must also have positive earnings (positive P/E or margin), a market value above USD 300 million and enough trading volume. The list is sorted by the size of the gap.
Limits: a share can stay below its estimated value for years, and the model can be wrong, especially for banks, cyclical businesses and companies with one-off items. Being below fair value is not a recommendation to buy. The probability of a higher close is shown for context. This is information, not investment advice.
Frequently asked questions
Which stocks in Norway are the most undervalued?
In October 2026, the widest gaps below ATLAS fair value among 32 qualifying companies belong to Aker Solutions, Sparebank 1 Nord-Norge, and Orkla. Aker Solutions leads at 59% below its estimate.
What does "undervalued" mean here?
That the share price is at least 10% below ATLAS estimate of what the company is worth, using cash flows and comparable multiples. It is a model output, not a judgement on the business.
Does undervalued mean the stock will go up?
No. Prices can stay below estimated value for years, and estimates change when results change. The one-month probability in the table is separate and is close to a coin flip for most stocks.
How much of the market in Norway looks undervalued?
32 of 129 listed companies pass the filter. The median gap among them is 36% below fair value, and 10 of them are in Industrials, the most represented sector.
How often is this list updated?
Fair values are refreshed every night and this page is rebuilt at least every 6 hours. The month in the title follows the date of the data.
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Information only, not investment advice. ATLAS estimates come from statistical models using public data; they can be wrong, and past results do not guarantee future ones. Disclaimer