Var Energi ASA (OSL:VAR) 3-Year ROIIC % : -5.16% (As of Dec. 2025)

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OSL:VAR Var Energi ASA OSL:VAR
81 GF Score
Price kr44.40
GF Value kr44.78
Valuation Fairly Valued
! 4 Warning Signs
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What is Var Energi ASA 3-Year ROIIC %?

Var Energi ASA OSL:VAR +2.02% 81 3-Year ROIIC % is -5.16 as of Dec. 2025. GuruFocus rates OSL:VAR with a GF Score™ of 81/100 and a GF Value™ of kr44.78 (Fairly Valued). The stock has 4 warning signs investors should review. Among 924 Oil & Gas companies, Var Energi ASA ranks worse than 58.12% on this metric.

3-Year Return on Invested Incremental Capital (3-Year ROIIC %) measures the change in earnings as a percentage of change in investment over 3-year. Var Energi ASA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 was -5.16%. High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.

The industry rank for Var Energi ASA's 3-Year ROIIC % or its related term are showing as below:

OSL:VAR's 3-Year ROIIC % is ranked worse than
58.12% of 924 companies
in the Oil & Gas industry
Industry Median: -0.005 vs OSL:VAR: -5.16

Var Energi ASA  (OSL:VAR) 3-Year ROIIC % Explanation

Return on Incremental Invested Capital (ROIIC) is an extension of Return on Investment Capital (ROIC). ROIC % tells investors how efficiently that profitability is earned per dollar of company capital. ROIIC narrows the focus even further and shows how profitable each additional unit of capital investment could be. ROIIC % is a more powerful metric than ROIC because it measures how much money the company can generate going forward on future capital investments.

High ROIIC is generally an indication that your business is capital efficient or has a higher operating leverage.

Be Aware

It's important to keep in mind that when tracking ROIIC, the metric is better suited to forecasting the trend of future returns rather than measuring current return on investment.


Var Energi ASA 3-Year ROIIC % Related Terms


Var Energi ASA 3-Year ROIIC % Historical Data

* Premium members only.

The historical data trend for Var Energi ASA's 3-Year ROIIC % 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.

Var Energi ASA 3-Year ROIIC % Chart

Var Energi ASA Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
3-Year ROIIC %
Get a 7-Day Free Trial 0.00 -119.49 38.50 -3.89 -5.16

Var Energi ASA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
3-Year ROIIC % Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 0.00 0.00 0.00 -5.16 0.00

OSL:VAR vs COP, EOG, FANG: 3-Year ROIIC % Comparison

For the Oil & Gas E&P subindustry, Var Energi ASA's 3-Year ROIIC %, along with its competitors' market caps and 3-Year ROIIC % 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 3-Year ROIIC % vs Oil & Gas Industry

For the Oil & Gas industry and Energy sector, Var Energi ASA's 3-Year ROIIC % distribution charts can be found below:

* The bar in red indicates where Var Energi ASA's 3-Year ROIIC % falls into.


OSL:VAR
81GF Score
Var Energi ASA OSL:VAR
3-Year ROIIC % is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Var Energi ASA 3-Year ROIIC % Calculation

Var Energi ASA's 3-Year ROIIC % for the quarter that ended in Dec. 2025 is calculated as:

3-Year ROIIC %=3-Year Incremental Net Operating Profit After Taxes (NOPAT)**/3-Year Incremental Invested Capital**
=( 6981.406449 (Dec. 2025) - 10951.67892 (Dec. 2022) )/( 252873.628 (Dec. 2025) - 175971.457 (Dec. 2022) )
=-3970.272471/76902.171
=-5.16%***

* 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.

** Annual data of NOPAT and Invested Capital was used to calculate 3-Year ROIIC %.
*** Please be aware that the ROIIC (Return on Invested Capital) calculations are based on company-level data using the primary share class. The calculated data provided is for demonstration purposes and may slightly differ from the results displayed in the title due to potential variations caused by currency exchange rate differences throughout the year.

Frequently Asked Questions Learn more about 3-Year ROIIC % →
What does a 3-Year ROIIC % of -5.16 mean?
Var Energi ASA (OSL:VAR) has a 3-Year ROIIC % of -5.16 as of Dec. 2025. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Var Energi ASA and its competitors. According to the industry distribution chart, Var Energi ASA ranks #537 out of 924 companies in the Oil & Gas industry, placing it in the top 58.1%.
Is Var Energi ASA's 3-Year ROIIC % too high?
Var Energi ASA's current 3-Year ROIIC % is -5.16. Based on the distribution chart, Var Energi ASA ranks #537 out of 924 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Var Energi ASA has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Var Energi ASA's 3-Year ROIIC % compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Var Energi ASA ranks #537 out of 924 companies for 3-Year ROIIC %. This places Var Energi ASA in the lower half of its industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year ROIIC % for an Oil & Gas company?
A good 3-Year ROIIC % depends on the Oil & Gas industry context. However, 3-Year ROIIC % 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 3-Year ROIIC % mean?
A high 3-Year ROIIC % can signal that a stock is expensive relative to its fundamentals. 3-Year ROIIC % measures the change in earnings as a percentage of change in investment over 3-year. View historical data on Var Energi ASA and its competitors. Var Energi ASA's current 3-Year ROIIC % is -5.16. 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 kr44.78, compared to a current price of kr44.40 — trading 0.8% below its estimated fair value. The current 3-Year ROIIC % is -5.16. Var Energi ASA's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year ROIIC % calculated?
3-Year ROIIC % is calculated from a company's financial statements. For Var Energi ASA (OSL:VAR), the current 3-Year ROIIC % is -5.16 as of Dec. 2025. 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 undervalued. The current stock price of kr44.40 is trading 0.8% below its estimated GF Value™ of kr44.78. GuruFocus considers Var Energi ASA to be Fairly Valued.

Key valuation signals for OSL:VAR:

  • 3-Year ROIIC %: -5.16
  • GF Value™: kr44.78 vs. price of kr44.40 (0.8% below fair value)
  • GF Score™: 81/100 with 4 warning signs

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 Business Description

Industry EnergyOil & Gas
Address Vestre Svanholmen 1, Sandnes, NOR, 4313
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).
81GF Score

Get the complete analysis for OSL:VAR

3-Year ROIIC % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

kr44.40
Price
kr44.78
GF Value