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Var Energi ASACHIX:VARO +3.05%71 EV-to-FCF is 11.52 as of Jul. 18, 2026, which is 14% below its 10-year median of 13.35. GuruFocus rates CHIX:VARO with a GF Score™ of 71/100 and a GF Value™ of kr44.66 (Fairly Valued). The stock has 4 warning signs investors should review. Among 583 Oil & Gas companies, Var Energi ASA ranks better than 65.35% on this metric.
EV-to-FCF is calculated as enterprise value divided by its free cash flow. As of today, Var Energi ASA's Enterprise Value is kr165,510 Mil.
Var Energi ASA's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 was kr14,365 Mil. Therefore, Var Energi ASA's EV-to-FCF for today is 11.52.
The historical rank and industry rank for Var Energi ASA's EV-to-FCF or its related term are showing as below:
CHIX:VARo'
s EV-to-FCF Range Over the Past 10 Years
Min: 2.91 Med: 13.35 Max: 56.69
Current: 11.09
During the past 8 years, the highest EV-to-FCF of Var Energi ASA was 56.69. The lowest was 2.91. And the median was 13.35.
CHIX:VARo's EV-to-FCF is ranked better than 65.35% of 583
companies
in the Oil & Gas industry
Industry Median: 15.75
vs CHIX:VARo: 11.09
EV-to-FCF 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-FCF 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 kr44.395.
Var Energi ASA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr2.653.
* 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. Free Cash Flow is an important financial metric because it represents the actual amount of cash at a company's disposal. Companies with a low EV-to-FCF ratio, combined with a strong balance sheet are generally considered as undervalued.
Var Energi ASA EV-to-FCF Related Terms
Var Energi ASA EV-to-FCF Historical Data
* Premium members only.
The historical data trend for Var Energi ASA's EV-to-FCF 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-FCF, along with its competitors' market caps and EV-to-FCF 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-FCF vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Var Energi ASA's EV-to-FCF distribution charts can be found below:
* The bar in red indicates where Var Energi ASA's EV-to-FCF falls into.
Var Energi ASA's current Enterprise Value is kr165,510 Mil.
Var Energi ASA's Free Cash Flow for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr14,365 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 (CHIX:VARO) has a EV-to-FCF of 11.52 as of Jul. 18, 2026. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Var Energi ASA and its competitors. This is 14% below median its historical median of 13.35. Over the past decade, Var Energi ASA's EV-to-FCF has ranged from 2.91 to 56.69. According to the industry distribution chart, Var Energi ASA ranks #202 out of 583 companies in the Oil & Gas industry, placing it in the top 34.6%.
Is Var Energi ASA's EV-to-FCF too high?
Var Energi ASA's current EV-to-FCF of 11.52 is 14% below median its 10-year median of 13.35. Over the past 10 years, this metric has ranged from a low of 2.91 to a high of 56.69. The Oil & Gas industry median EV-to-FCF is 15.75. Var Energi ASA's value of 11.52 is 26.9% below this industry median. Based on the distribution chart, Var Energi ASA ranks #202 out of 583 companies in the Oil & Gas industry, which is above the industry midpoint. Overall, Var Energi ASA has a GF Score™ of 71/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Var Energi ASA's EV-to-FCF compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Var Energi ASA ranks #202 out of 583 companies for EV-to-FCF. This puts Var Energi ASA in the upper half of its industry. The industry median EV-to-FCF is 15.75. Var Energi ASA's value of 11.52 is 26.9% below this benchmark. Historically, Var Energi ASA's own EV-to-FCF has ranged from 2.91 to 56.69 over the past decade. While the company's 10-year median is 13.35 vs. the industry median of 15.75, 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-FCF for an Oil & Gas company?
The median EV-to-FCF among Oil & Gas companies is 15.75, based on 583 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-FCF significantly above this median, while those in the bottom quartile fall well below. However, EV-to-FCF should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Var Energi ASA's current EV-to-FCF of 11.52 is 26.9% 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-FCF mean?
A high EV-to-FCF can signal that a stock is expensive relative to its fundamentals. EV to FCF ratio is the company's enterprise value divided by free cash flow. View historical data on Var Energi ASA and its competitors. For the Oil & Gas industry, the median EV-to-FCF is 15.75 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Var Energi ASA's current EV-to-FCF is 11.52, which is 14% below median its own 10-year median of 13.35. 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 (CHIX:VARO) is currently considered Fairly Valued. The stock's GF Value™ is kr44.66, compared to a current price of kr44.40 — trading 0.6% below its estimated fair value. The current EV-to-FCF is 11.52, which is 14% below median its 10-year median of 13.35 and 26.9% below the Oil & Gas industry median of 15.75. Var Energi ASA's overall GF Score™ is 71/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-FCF calculated?
EV-to-FCF is calculated from a company's financial statements. For Var Energi ASA (CHIX:VARO), the current EV-to-FCF is 11.52 as of Jul. 18, 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 (CHIX:VARO) Overvalued in 2026?
Based on GuruFocus' analysis, Var Energi ASA stock appears to be undervalued.
The current stock price of kr44.40 is trading 0.6% below its estimated GF Value™ of kr44.66.
GuruFocus considers Var Energi ASA to be Fairly Valued.
Key valuation signals for CHIX:VARO:
EV-to-FCF: 11.52 (14% below median its 10-year median of 13.35)
GF Value™: kr44.66 vs. price of kr44.40 (0.6% below fair value)
Industry Position: 26.9% below the Oil & Gas median (#202 of 583)
No single metric tells the full story. See the CHIX:VARO 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).
71GF Score
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