Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. HAV Group ASA's retained earnings for the quarter that ended in Mar. 2026 was kr-29.2 Mil.
HAV Group ASA's quarterly retained earnings
increased
from Sep. 2025 (kr-40.2 Mil) to Dec. 2025 (kr-34.1 Mil) and
increased
from Dec. 2025 (kr-34.1 Mil) to Mar. 2026 (kr-29.2 Mil).
HAV Group ASA's annual retained earnings
declined
from Dec. 2023 (kr-30.0 Mil) to Dec. 2024 (kr-35.4 Mil) but then
increased
from Dec. 2024 (kr-35.4 Mil) to Dec. 2025 (kr-34.1 Mil).
HAV Group ASA (OSL:HAV) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
HAV Group ASA Retained Earnings Historical Data
* Premium members only.
The historical data trend for HAV Group ASA's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of kr-29.2 Mil mean?
HAV Group ASA (OSL:HAV) has a Retained Earnings of kr-29.2 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on HAV Group ASA and its competitors.
Is HAV Group ASA's Retained Earnings too high?
HAV Group ASA's current Retained Earnings is kr-29.2 Mil. Overall, HAV Group ASA has a GF Score™ of 64/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does HAV Group ASA's Retained Earnings compare to competitors?
HAV Group ASA's Retained Earnings of kr-29.2 Mil can be compared against companies in the Transportation industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Transportation company?
A good Retained Earnings depends on the Transportation industry context. However, Retained Earnings should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on HAV Group ASA and its competitors. HAV Group ASA's current Retained Earnings is kr-29.2 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is HAV Group ASA stock overvalued right now?
Based on GuruFocus' analysis, HAV Group ASA (OSL:HAV) is currently considered Fairly Valued. The stock's GF Value™ is kr12.52, compared to a current price of kr13.75 — trading 9.8% above its estimated fair value. The current Retained Earnings is kr-29.2 Mil. HAV Group ASA's overall GF Score™ is 64/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For HAV Group ASA (OSL:HAV), the current Retained Earnings is kr-29.2 Mil as of Mar. 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 HAV Group ASA (OSL:HAV) Overvalued in 2026?
Based on GuruFocus' analysis, HAV Group ASA stock appears to be overvalued.
The current stock price of kr13.75 is trading 9.8% above its estimated GF Value™ of kr12.52.
GuruFocus considers HAV Group ASA to be Fairly Valued.
Key valuation signals for OSL:HAV:
Retained Earnings: kr-29.2 Mil
GF Value™: kr12.52 vs. price of kr13.75 (9.8% above fair value)
No single metric tells the full story. See the OSL:HAV stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
HAV Group ASA is a provider of solutions and technology to the marine and maritime industries. The group's vision is to contribute to the green shift through solutions and high-end products for the ocean industries. The Group's main activities are: HAV Design, i.e., providing ship design and system packages for offshore, transport, and fishing vessels; Norwegian Electric Systems, i.e., specializing in design, engineering, and installation of electric systems and delivery of control and automation systems for ships; Norwegian Greentech, i.e., specializing in the delivery of ballast water treatment systems. HAV Hydrogen, i.e., delivers complete and scalable hydrogen systems that are designed for operation in heavy seas. Other/Elimination includes intercompany and the mother company.
64GF Score
Get the complete analysis for OSL:HAV
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
OSL:HAV has been successfully added to your 
