Vår Energi AS/Nkr VAR
1D1W1M3M6MYTD1Y5YMAX
Capital at risk
About Vår Energi AS
Vår Energi AS is an oil and gas exploration and production company based in Norway. The company focuses on extracting hydrocarbons from the Norwegian Continental Shelf, an area known for its significant oil and gas resources. Vår Energi operates across various fields, with a portfolio comprising both development projects and production activities. Formed in 2018 through the merger of Eni Norge AS and Point Resources AS, it benefits from its strategic location and advanced technology in safe and efficient operations. Headquartered in Sandnes, Norway, Vår Energi leverages its robust operational expertise to maintain a strong presence in the North Sea, Norwegian Sea, and Barents Sea.
- Ticker
- Nkr VAR
- Sector
- Energy
- Primary listing
- XOSL
- Employees
- 1,433
- Headquarters
- Sandnes, Norway
- Website
- varenergi.no
Vår Energi AS Metrics
BasicAdvanced
kr 148B
11.00
kr 5.37
-0.48
kr 4.89
8.28%
Price and volume
Market cap
kr 148B
Beta
-0.48
52-week high
kr 59.28
52-week low
kr 31.00
Average daily volume
4.3M
Dividend rate
kr 4.89
Financial strength
Current ratio
1.314
Quick ratio
1.039
Long term debt to equity
4.092
Total debt to equity
4.226
Dividend payout ratio (TTM)
86.31%
Interest coverage (TTM)
24.84%
Profitability
EBITDA (TTM)
93,882.45
Gross margin (TTM)
88.56%
Net profit margin (TTM)
12.72%
Operating margin (TTM)
61.43%
Effective tax rate (TTM)
77.01%
Revenue per employee (TTM)
kr 77,890,880
Management effectiveness
Return on assets (TTM)
15.72%
Return on equity (TTM)
112.37%
Valuation
Price to earnings (TTM)
10.998
Price to revenue (TTM)
1.32
Price to book
940.33
Price to tangible book (TTM)
-35.19
Price to free cash flow (TTM)
4.887
Free cash flow yield (TTM)
20.46%
Free cash flow per share (TTM)
12.078
Dividend yield (TTM)
8.28%
Growth
Revenue change (TTM)
62.94%
Earnings per share change (TTM)
150.37%
3-year revenue growth (CAGR)
17.39%
3-year earnings per share growth (CAGR)
14.55%
3-year dividend per share growth (CAGR)
-35.92%
What the Analysts think about Vår Energi AS
Analyst ratings (Buy, Hold, Sell) for Vår Energi AS stock.
Analyst projections of the future price of Vår Energi AS stock.
Bulls say / Bears say
Vår Energi generated USD 1.5 billion of cash flow from operations after tax in Q3, with USD 7.5 billion of available liquidity and leverage of just 0.3x. That gives it room to fund its plans and withstand weaker market conditions. (Vår Energi ASA)
The company raised its Q3 dividend to USD 400 million and guided to the same amount for Q4, above the earlier USD 350 million quarterly guidance. Its stated long-term policy is to distribute 25–30% of cash flow from operations after tax over the cycle. (Vår Energi ASA)
Vår Energi has 15 projects in execution targeting around 370 million barrels of net reserves, with reported average break-even costs of about USD 30 per barrel and returns of around 35%. New projects and wells are expected to lift production in Q4 after the recent outages and turnarounds. (Vår Energi ASA)
Q3 production fell 2% from Q2 and was flat year on year, prompting Vår Energi to lower its 2026 production outlook to around 390,000 barrels of oil equivalent per day from the original 390,000–410,000 range. Equipment and processing problems at Johan Castberg, Jotun and Åsgard show that operational disruption can still weigh on output. (Vår Energi ASA)
The company raised its 2026 production-cost outlook from about USD 10 to USD 11 per barrel of oil equivalent, citing unplanned maintenance, a stronger krone and higher fuel and power prices. It still plans USD 2.5–2.7 billion of development spending this year, leaving costs and project delivery important to cash generation. (Vår Energi ASA)
Some gas sales contracts limited the benefit of rising market prices: the Q3 realised gas price was about USD 18 per barrel of oil equivalent below the spot-market reference. Fixed-price and month-ahead sales made up a significant share of volumes, so the company may not capture the full upside when prices rise quickly. (Vår Energi ASA)
Data summarised monthly by Lightyear AI. Last updated on 22 Oct 2026.
Vår Energi AS Financial Performance
Revenues and expenses
Vår Energi AS Earnings Performance
Company profitability
Upcoming events
Funds containing Vår Energi AS
AllEURUSDGBP
Fund name | Fund size | Nkr VAR weighting |
|---|---|---|
iShares MSCI Europe Energy Sector£ESIE | €260M | 0.96% |
iShares Oil & Gas Exploration & Production£SPOG | $438M | 0.71% |
iShares Oil & Gas Exploration & Production$IOGP | $438M | 0.71% |
iShares Oil & Gas Exploration & Production€IOGP | $438M | 0.71% |
iShares STOXX Europe 600 Oil & Gas€EXH1 | €555M | 0.56% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.