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    Oil & Gas Equipment & Services
Argeo AS

Argeo AS

ARGEO.OL
Argeo ASNO flagOslo Stock Exchange
0.45
NOK
- -
- -
28.30MMarket Cap
Argeo AS
ARGEO.OL
(Oslo Stock Exchange)

Recent

price

0.45

P/E

ratio

- -

div

yld

- -

ROIC.AI

2018
2019
2020
2021
2022
2023
2024
TTM
FRC
- -
0.05
0.23
0.42
0.44
0.49
1.25
1.22
Revenue per Share
- -
0.02
0.04
-0.51
-1.14
-0.82
-0.16
-0.29
Basic EPS, GAAP
- -
- -
0.05
-2.73
-2.57
-1.24
-0.42
-0.09
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
- -
0.01
-0.18
-4.47
-12.12
0.09
0.05
0.07
Book Value per Share
0.11
0.04
0.04
3.74
1.55
1.51
0.65
0.81
Tangible Book Value per Share
6
6
6
4
8
21
43
45
Basic Weighted Avg Shares
- -
- -
1
2
3
10
54
56
Sales/Revenue/Turnover
- -
46.69
21.92
-183.38
-189.41
-108.28
-4.97
-10.05
Operating Margin (%)
- -
- -
- -
- -
1
7
9
9
Depreciation Expense
- -
- -
- -
-2
-9
-17
-7
-13
Net Income, GAAP
- -
26.26
20.16
- -
- -
- -
- -
- -
Effective Tax Rate (%)
- -
33.63
16.85
-120.65
-256.79
-167.24
-12.97
-23.66
Profit Margin (%)
- -
- -
- -
14
-5
-6
-10
-6
Working Capital
- -
- -
1
1
5
18
35
34
LT Debt
1
- -
1
17
15
35
33
42
Total Equity
- -
15.98
24.54
- -
- -
- -
- -
- -
Return on Invested Capital (%)
- -
129.63
-280.35
- -
- -
- -
- -
76.66
Return on Capital (%)
- -
- -
- -
- -
- -
- -
-342.41
-515.51
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'25
ST Debt
10
10
10
LT Borrowings
2
19
18
LT Finance Leases
29
17
16
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
44
44
63
Market Capitalization
40
37
24

Working Capital

FRC

•

in mil. unless spec.
Sep'24
Dec'24
Mar'25
Total Current Assets
23
21
18
Cash, Cash Equivalents & STI
5
1
4
Accounts Receivable, Net
4
7
4
Inventories
- -
1
- -
Total Current Liabilities
24
31
24
Payables & Accruals
- -
- -
- -
ST Debt
10
10
10
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
- -
534.41%
-5.96%
Free Cash Flow
- -
- -
-29.72%
Net Income, GAAP
- -
-105.25%
-59.03%
Sales/Revenue/Turnover
- -
227.01%
428.42%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
2
1
5
1
10
2024
9
16
23
5
54
2025
11
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
-0.1
-0.17
-0.19
-0.28
-0.82
2024
0.05
-0.02
0.01
-0.19
-0.16
2025
-0.09
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2023
- -
- -
- -
- -
- -
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
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Business
Argeo AS is a Norway-based subsea service provider specializing in geophysical surveying, mapping, and inspection services for the oil and gas, renewables, and marine minerals sectors. The company offers a comprehensive range of products and services including geophysical survey; hydrographical survey; route survey; environmental survey; ultra-high-resolution photo survey; pipeline inspection; cathodic protection; electric cable inspection; depth-of-burial assessment; installation, maintenance, repair (IMR) support; subsea repair; module replacement; light intervention; construction and installation; commissioning and handover; and data as a service (DaaS) solutions. Argeo leverages advanced robotics, autonomous underwater vehicles (AUVs), unmanned surface vehicles (USVs), remotely operated vehicles (ROVs), advanced sensors, and digital imaging technology to deliver accurate digital models and digital twin solutions based on geophysical, hydrographic, and geological methods. The company serves multiple geographic regions including Norway, Africa, Asia, North and South America, and Europe from its headquarters in Hvalstad, Norway, with offices in Asker, Tromso, Houston, and Singapore. Founded in 2017, Argeo aims to transform the ocean survey and inspection industry by providing full lifecycle services from data acquisition to actionable insights. Recent major changes include a five-year frame agreement signed in December 2024 with TotalEnergies for offshore site investigation services with an option to extend for two additional years, an oversubscribed private placement in early 2024 raising funds for corporate purposes and preparation of a third project spread in North and South America, and new contracts awarded for its vessels Argeo Searcher and Argeo Venture in South America and Africa. The company demonstrated strong revenue growth in 2024, including a 561% increase in H1 2024 revenues and an improved operational profile, underpinning its strategic gains in technology deployment and global market expansion. Argeo’s innovation focus includes the development of digital platforms to enable flexible data access across the project lifecycle and enhancement of subsea surveying through robotics and sensor integration, positioning it as a fast, flexible, and technologically advanced provider in subsea surveying and inspection markets.