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Var Energi ASAOSL:VAR -0.69%83 EV-to-OCF is 2.78 as of Aug. 26, 2026, which is 11% below its 10-year median of 3.14. GuruFocus rates OSL:VAR with a GF Score™ of 83/100 and a GF Value™ of kr48.57 (Fairly Valued). The stock has 6 warning signs investors should review. Among 1,024 Oil & Gas companies, Var Energi ASA ranks better than 65.33% on this metric.
EV-to-OCF is calculated as enterprise value divided by its cash flow from operations. As of today, Var Energi ASA's Enterprise Value is kr153,828 Mil.
Var Energi ASA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 was kr55,355 Mil. Therefore, Var Energi ASA's EV-to-OCF for today is 2.78.
The historical rank and industry rank for Var Energi ASA's EV-to-OCF or its related term are showing as below:
OSL:VAR'
s EV-to-OCF Range Over the Past 10 Years
Min: 1.65 Med: 3.14 Max: 4.25
Current: 2.78
During the past 8 years, the highest EV-to-OCF of Var Energi ASA was 4.25. The lowest was 1.65. And the median was 3.14.
OSL:VAR's EV-to-OCF is ranked better than 65.33% of 1024
companies
in the Oil & Gas industry
Industry Median: 5.66
vs OSL:VAR: 2.78
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
EV-to-OCF is a valuation multiple that allows analysts and investors to compare stocks, preferably in the same sector or industry. This important multiple is often used in conjunction with, or as an alternative to, the PE Ratio (TTM) to determine the fair market value of a company.
Var Energi ASA's PE Ratio (TTM) for today is calculated as:
Var Energi ASA's share price for today is kr48.71.
Var Energi ASA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr5.011.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Enterprise Value is used because it is a more complete measure in reflecting how much an investor pays when buying a company. Cash Flow from Operations is an important financial metric because it represents the cash generated from operating activities at a company's disposal. Companies with a low EV-to-OCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Var Energi ASA EV-to-OCF Related Terms
Var Energi ASA EV-to-OCF Historical Data
* Premium members only.
The historical data trend for Var Energi ASA's EV-to-OCF can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
For the Oil & Gas E&P subindustry, Var Energi ASA's EV-to-OCF, along with its competitors' market caps and EV-to-OCF data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Var Energi ASA EV-to-OCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Var Energi ASA's EV-to-OCF distribution charts can be found below:
* The bar in red indicates where Var Energi ASA's EV-to-OCF falls into.
Var Energi ASA's current Enterprise Value is kr153,828 Mil.
Var Energi ASA's Cash Flow from Operations for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr55,355 Mil.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
Var Energi ASA (OSL:VAR) has a EV-to-OCF of 2.78 as of Aug. 26, 2026. This is 11% below median its historical median of 3.14. Over the past decade, Var Energi ASA's EV-to-OCF has ranged from 1.65 to 4.25. According to the industry distribution chart, Var Energi ASA ranks #355 out of 1024 companies in the Oil & Gas industry, placing it in the top 34.7%.
Is Var Energi ASA's EV-to-OCF too high?
Var Energi ASA's current EV-to-OCF of 2.78 is 11% below median its 10-year median of 3.14. Over the past 10 years, this metric has ranged from a low of 1.65 to a high of 4.25. The Oil & Gas industry median EV-to-OCF is 5.66. Var Energi ASA's value of 2.78 is 50.9% below this industry median. Based on the distribution chart, Var Energi ASA ranks #355 out of 1024 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Var Energi ASA has a GF Score™ of 83/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Var Energi ASA's EV-to-OCF compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Var Energi ASA ranks #355 out of 1024 companies for EV-to-OCF. This puts Var Energi ASA in the upper half of its industry. The industry median EV-to-OCF is 5.66. Var Energi ASA's value of 2.78 is 50.9% below this benchmark. Historically, Var Energi ASA's own EV-to-OCF has ranged from 1.65 to 4.25 over the past decade. While the company's 10-year median is 3.14 vs. the industry median of 5.66, Var Energi ASA has consistently been below the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-OCF for an Oil & Gas company?
The median EV-to-OCF among Oil & Gas companies is 5.66, based on 1,024 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-OCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-OCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Var Energi ASA's current EV-to-OCF of 2.78 is 50.9% below the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EV-to-OCF mean?
A high EV-to-OCF can signal that a stock is expensive relative to its fundamentals. For the Oil & Gas industry, the median EV-to-OCF is 5.66 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Var Energi ASA's current EV-to-OCF is 2.78, which is 11% below median its own 10-year median of 3.14. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Var Energi ASA stock overvalued right now?
Based on GuruFocus' analysis, Var Energi ASA (OSL:VAR) is currently considered Fairly Valued. The stock's GF Value™ is kr48.57, compared to a current price of kr48.71 — trading 0.3% above its estimated fair value. The current EV-to-OCF is 2.78, which is 11% below median its 10-year median of 3.14 and 50.9% below the Oil & Gas industry median of 5.66. Var Energi ASA's overall GF Score™ is 83/100 with 6 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-OCF calculated?
EV-to-OCF is calculated from a company's financial statements. For Var Energi ASA (OSL:VAR), the current EV-to-OCF is 2.78 as of Aug. 26, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Var Energi ASA (OSL:VAR) Overvalued in 2026?
Based on GuruFocus' analysis, Var Energi ASA stock appears to be overvalued.
The current stock price of kr48.71 is trading 0.3% above its estimated GF Value™ of kr48.57.
GuruFocus considers Var Energi ASA to be Fairly Valued.
Key valuation signals for OSL:VAR:
EV-to-OCF: 2.78 (11% below median its 10-year median of 3.14)
GF Value™: kr48.57 vs. price of kr48.71 (0.3% above fair value)
Industry Position: 50.9% below the Oil & Gas median (#355 of 1024)
No single metric tells the full story. See the OSL:VAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Var Energi ASA is an independent upstream oil and gas company on the Norwegian continental shelf. It operates within the geographical area of Norway and the business is entirely related to the exploration for and production of petroleum in Norway. The Company operates within a single operating segment, and the products include oil and gas, natural gas liquids (NGL). Revenues are mainly related to the sale of oil, gas, and NGL. Var Energi is the operator of the following producing fields: Goliat (Barents Sea), Fenja (Norwegian Sea), Gjoa, Duva, Balder, and Ringhorne (North Sea).
83GF Score
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