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Reach Subsea ASA
OSE:REACH

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Reach Subsea ASA
OSE:REACH
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Price: 6.74 NOK 0.6% Market Closed
Market Cap: kr2.2B

EV/EBITDA

2.3
Current
2%
More Expensive
vs 3-y average of 2.3

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
2.3
=
Enterprise Value
kr2.6B
/
EBITDA
kr1.1B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
2.3
=
Enterprise Value
kr2.6B
/
EBITDA
kr1.1B

Valuation Scenarios

Reach Subsea ASA is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (2.3), the stock would be worth kr6.64 (2% downside from current price).

Statistics
Positive Scenarios
1/4
Maximum Downside
-58%
Maximum Upside
+232%
Average Upside
42%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 2.3 kr6.74
0%
3-Year Average 2.3 kr6.64
-2%
5-Year Average 2.2 kr6.39
-5%
Industry Average 1 kr2.81
-58%
Country Average 7.8 kr22.4
+232%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
kr2.6B
/
Jan 2026
kr1.1B
=
2.3
Current
kr2.6B
/
Dec 2026
kr1.4B
=
1.9
Forward
kr2.6B
/
Dec 2027
kr1.5B
=
1.8
Forward
kr2.6B
/
Dec 2028
kr1.5B
=
1.7
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
NO
Reach Subsea ASA
OSE:REACH
2.2B NOK 2.3 20.4
US
Schlumberger NV
NYSE:SLB
81.3B USD 10.5 24.1
US
Baker Hughes Co
NASDAQ:BKR
61.7B USD 13 23.9
US
Halliburton Co
NYSE:HAL
32.7B USD 8.9 25.5
LU
Tenaris SA
MIL:TEN
26.1B EUR 9.7 16
UK
TechnipFMC PLC
NYSE:FTI
28.9B USD 15.3 30.1
CN
Yantai Jereh Oilfield Services Group Co Ltd
SZSE:002353
125.1B CNY 34.5 44.6
UK
Subsea 7 SA
OSE:SUBC
86.6B NOK 6.5 23.6
IT
Saipem SpA
MIL:SPM
7.6B EUR 4.5 26.4
FR
Technip Energies NV
PAR:TE
7.1B EUR 8.8 19.5
CN
Sinopec Oilfield Service Corp
SSE:600871
50.6B CNY 39.4 76.8

Market Distribution

In line with most companies in Norway
Percentile
30th
Based on 539 companies
30th percentile
2.3
Low
0.1 — 2.2
Typical Range
2.2 — 16.6
High
16.6 —
Distribution Statistics
Norway
Min 0.1
30th Percentile 2.2
Median 7.8
70th Percentile 16.6
Max 40 612.5

Reach Subsea ASA
Glance View

Market Cap
2.2B NOK
Industry
N/A

Reach Subsea ASA is a holding company, which engages in the provision of offshore and subsea services to the oil industry. The company is headquartered in Haugesund, Rogaland and currently employs 109 full-time employees. The company offers subsea services as subcontractor directly to end customers. The Company’s business is based on Remotely Operated Underwater Vehicles (ROV) operated by offshore personnel and supported by onshore project management and engineering resources. Reach Subsea operates through two segments: the Oil & Gas segment, that is engaged in surveying, Inspection, Maintenance and Repair (IMR) and light construction projects for oil & gas companies while the Renewable/Other segment provides those services to non-oil & gas companies. The Company’s services include also geophysical monitoring services, environmental monitoring services as well as in-house engineering. Reach Subsea ASA has several subsidiaries, such as Reach Subsea AS, Connect Offshore AS and Reach International AS.

REACH Intrinsic Value
18.73 NOK
Undervaluation 64%
Intrinsic Value
Price kr6.74
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