HAV Group ASAOSL:HAV 63 ROE % is 19.50% as of Mar. 2026, which is 1158% above its 10-year median of 1.55. GuruFocus rates OSL:HAV with a GF Score™ of 63/100 and a GF Value™ of kr12.47 (Fairly Valued). The stock has 4 warning signs investors should review. Among 982 Transportation companies, HAV Group ASA ranks better than 72.3% on this metric.
ROE % is calculated as Net Income divided by its average Total Stockholders Equity over a certain period of time. HAV Group ASA's annualized net income for the quarter that ended in Mar. 2026 was kr17.7 Mil. HAV Group ASA's average Total Stockholders Equity over the quarter that ended in Mar. 2026 was kr90.6 Mil. Therefore, HAV Group ASA's annualized ROE % for the quarter that ended in Mar. 2026 was 19.50%.
The historical rank and industry rank for HAV Group ASA's ROE % or its related term are showing as below:
OSL:HAV'
s ROE % Range Over the Past 10 Years
Min: -890.69 Med: 1.55 Max: 918.84
Current: 13.16
During the past 9 years, HAV Group ASA's highest ROE % was 918.84%. The lowest was -890.69%. And the median was 1.55%.
OSL:HAV's ROE % is ranked better than 72.3% of 982
companies
in the Transportation industry
Industry Median: 7.575
vs OSL:HAV: 13.16
HAV Group ASA (OSL:HAV) ROE % Explanation
ROE % measures the rate of return on the ownership interest (shareholder's equity) of the common stock owners. It measures a firm's efficiency at generating profits from every unit of shareholders' equity (also known as net assets or assets minus liabilities). ROE % shows how well a company uses investment funds to generate earnings growth. ROE %s between 15% and 20% are considered desirable.
The factors that affect a company's ROE % can be illustrated with the three-step DuPont Analysis:
Note:
The net income data used here is four times the quarterly (Mar. 2026) net income data. The Revenue data used here is four times the quarterly (Mar. 2026) revenue data. The same rule applies to Pre-Tax Income and Operating Income.
* In the five-step DuPont Analysis, Operating Income is only available for non-financial companies. Thus, for Insurance companies, we use EBIT as a substitution of Operating Income. For Banks, both Operating Income and EBIT is unavailable. Thus we combined Interest Burden and Operating Margin % into Pretax Margin %, and the DuPont Analysis is divided into four components instead.
* 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.
Be Aware
Net Income is used.
Because a company can increase its ROE % by having more financial leverage, it is important to watch the equity multiplier when investing in high ROE % companies. Like ROA %, ROE % is calculated with only 12 months data. Fluctuations in company's earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective.
Asset light businesses require very few assets to generate very high earnings. Their ROE %s can be extremely high.
HAV Group ASA ROE % Related Terms
HAV Group ASA ROE % Historical Data
* Premium members only.
The historical data trend for HAV Group ASA's ROE % 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 Marine Shipping subindustry, HAV Group ASA's ROE %, along with its competitors' market caps and ROE % 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.
HAV Group ASA ROE % vs Transportation Industry
For the Transportation industry and Industrials sector, HAV Group ASA's ROE % distribution charts can be found below:
* The bar in red indicates where HAV Group ASA's ROE % falls into.
* 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.
In the calculation of annual ROE %, the net income of the last fiscal year and the average total shareholder equity over the fiscal year are used. In calculating the quarterly data,
the net income data used here is four times the quarterly (Mar. 2026) net income data.
ROE % is displayed in the 30-year financial page.
HAV Group ASA (OSL:HAV) has a ROE % of 19.50% as of Mar. 2026. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on HAV Group ASA and its competitors. This is 1158% above median its historical median of 1.55. According to the industry distribution chart, HAV Group ASA ranks #272 out of 982 companies in the Transportation industry, placing it in the top 27.7%.
Is HAV Group ASA's ROE % too high?
HAV Group ASA's current ROE % of 19.50% is 1158% above median its 10-year median of 1.55. The Transportation industry median ROE % is 7.58. HAV Group ASA's value of 19.50% is 157.4% above this industry median. Based on the distribution chart, HAV Group ASA ranks #272 out of 982 companies in the Transportation industry, which is above the industry midpoint. Overall, HAV Group ASA has a GF Score™ of 63/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does HAV Group ASA's ROE % compare to competitors?
According to the Transportation industry distribution chart, HAV Group ASA ranks #272 out of 982 companies for ROE %. This puts HAV Group ASA in the upper half of its industry. The industry median ROE % is 7.58. HAV Group ASA's value of 19.50% is 157.4% above this benchmark. While the company's 10-year median is 1.55 vs. the industry median of 7.58, HAV Group ASA has consistently been above 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 ROE % for a Transportation company?
The median ROE % among Transportation companies is 7.58, based on 982 companies in the industry. Companies in the top quartile (top 25%) have a ROE % significantly above this median, while those in the bottom quartile fall well below. However, ROE % should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. HAV Group ASA's current ROE % of 19.50% is 157.4% above 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 ROE % mean?
A high ROE % can signal that a stock is expensive relative to its fundamentals. Return on equity is the ratio of current-period net income to average two-period total equity. View historical data on HAV Group ASA and its competitors. For the Transportation industry, the median ROE % is 7.58 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. HAV Group ASA's current ROE % is 19.50%, which is 1158% above median its own 10-year median of 1.55. 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 kr12.47, compared to a current price of kr13.50 — trading 8.3% above its estimated fair value. The current ROE % is 19.50%, which is 1158% above median its 10-year median of 1.55 and 157.4% above the Transportation industry median of 7.58. HAV Group ASA's overall GF Score™ is 63/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is ROE % calculated?
ROE % is calculated from a company's financial statements. For HAV Group ASA (OSL:HAV), the current ROE % is 19.50% 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 kr13.50 is trading 8.3% above its estimated GF Value™ of kr12.47.
GuruFocus considers HAV Group ASA to be Fairly Valued.
Key valuation signals for OSL:HAV:
ROE %: 19.50% (1158% above median its 10-year median of 1.55)
GF Value™: kr12.47 vs. price of kr13.50 (8.3% above fair value)
Industry Position: 157.4% above the Transportation median (#272 of 982)
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.
63GF Score
Get the complete analysis for OSL:HAV
ROE % 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 
