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    Consumer Cyclical

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    Residential Construction
Selvaag Bolig ASA

Selvaag Bolig ASA

SBO.OL
Selvaag Bolig ASANO flagOslo Stock Exchange
33.80
NOK
+0.10
- -
3.17BMarket Cap
Selvaag Bolig ASA
SBO.OL
(Oslo Stock Exchange)

Recent

price

33.80

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
5.68
4.64
34.22
23.43
31.41
34.63
32
35.04
36.17
36.24
28.91
36.4
31.04
34.79
21.05
22.26
22.63
Revenue per Share
-0.24
-0.07
3.39
1.75
2.7
3
3.21
4.35
6.14
7.04
16.33
5.4
3.63
2.62
1.89
1.42
1.49
Basic EPS, GAAP
0.42
-5.32
5.65
1.11
2
4.97
4.7
3.29
4.62
10.6
17.29
4.19
0.65
12.75
0.88
-14
-13.42
Free Cash Flow per Basic Share
- -
- -
- -
0.78
0.5
1.9
1.45
2.15
3.8
4.5
26.52
5
5
3.01
1
1.25
1.3
Dividend per Share
- -
-5.36
-0.34
1.45
3.65
4.66
6.29
8.08
10.84
13.65
3.44
3.8
2.47
2.03
2.94
3.07
2.98
Book Value per Share
4.72
12.46
20.53
19.46
21.77
22.96
24.7
26.86
29.57
32.26
22.01
22.31
21.03
20.56
21.46
21.61
22.17
Tangible Book Value per Share
67
67
82
94
94
94
94
92
92
93
93
93
93
94
94
94
90
Basic Weighted Avg Shares
379
310
2,812
2,197
2,945
3,246
3,000
3,229
3,342
3,369
2,698
3,403
2,896
3,255
1,971
2,087
2,042
Sales/Revenue/Turnover
17.15
-21.96
15.71
11.75
11.36
12.38
13.39
17.26
19.41
23.84
17.19
15.83
11.63
9.68
6.36
2.76
2.59
Operating Margin (%)
- -
6
22
22
21
24
20
4
4
13
10
10
10
9
10
7
7
Depreciation Expense
-16
-5
278
164
253
281
301
401
567
655
1,524
505
339
245
177
133
135
Net Income, GAAP
- -
- -
22.71
21.69
27.01
24.74
17.47
20.38
22.61
23.36
7.86
21.76
20.29
23.41
15.41
4.73
7.49
Effective Tax Rate (%)
-4.31
-1.52
9.9
7.47
8.6
8.66
10.04
12.42
16.96
19.43
56.47
14.84
11.7
7.52
8.98
6.37
6.6
Profit Margin (%)
-219
3,123
3,044
3,877
3,807
3,943
3,960
3,800
3,816
3,499
2,649
2,539
3,179
2,319
2,525
2,579
2,883
Working Capital
- -
2,342
1,461
2,116
1,752
1,847
2,039
1,837
1,796
1,128
1,127
796
1,411
685
964
1,124
1,442
LT Debt
322
1,311
2,147
2,259
2,457
2,549
2,699
2,858
3,116
3,382
2,438
2,469
2,346
2,307
2,393
2,409
2,384
Total Equity
- -
- -
7.1
4.05
4.77
5.76
6.22
8.43
9.33
10.73
7.8
8.56
5.54
5.55
2.7
1.15
0.84
Return on Invested Capital (%)
- -
- -
8.8
5.67
9.18
10.08
10.47
13.95
18.57
19.53
47.84
19.14
13.19
11.51
10.65
5.29
3.89
Return on Capital (%)
- -
- -
- -
- -
105.82
72.15
58.67
60.12
64.93
57.63
191.61
149.36
115.66
116.28
75.98
47.2
51.56
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
1,372
1,941
2,743
LT Borrowings
1,867
1,098
1,418
LT Finance Leases
26
26
25
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
94
94
94
Market Capitalization
3,195
3,313
2,978

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
5,214
5,182
6,241
Cash, Cash Equivalents & STI
201
255
350
Accounts Receivable, Net
113
109
62
Inventories
4,889
4,802
5,813
Total Current Liabilities
1,908
2,603
3,359
Payables & Accruals
- -
- -
- -
ST Debt
1,372
1,941
2,743
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
0.04%
-0.19%
0.66%
Free Cash Flow
10.99%
-17.76%
-1,688.16%
Net Income, GAAP
4.98%
-36.02%
-24.85%
Sales/Revenue/Turnover
-2.55%
-1.99%
5.87%
Total Cash Common Dividend
44.78%
-32.52%
25.17%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
628
620
225
498
1,971
2025
167
261
568
1,091
2,087
2026
123
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.6
0.85
-0.05
0.5
1.89
2025
-0.22
0.02
0.25
1.37
1.42
2026
-0.2
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
1
- -
- -
1
2025
- -
1.5
- -
- -
1.25
2026
- -
- -
- -
- -
- -
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Business
Selvaag Bolig ASA is a Norway-based residential property developer that controls the entire value chain from land acquisition to the sale of turnkey homes; it offers a broad variety of housing types, including apartments, row houses and the lifestyle concept Selvaag Pluss featuring shared spaces and services; the company also provides project management services and operates Pluss service centres. Selvaag Bolig focuses on growth areas in and around Greater Oslo, Bergen, Stavanger, Trondheim and Stockholm, with several thousand homes under development at any given time; it outsources construction via competitive tenders to minimize costs and risks. Founded in 2008 as a spin-off from the Selvaag Group—which traces its roots to 1948 and has built nearly 60,000 homes—the company is headquartered at Ullern in Oslo and operates as a subsidiary of Selvaag AS; Selvaag Bolig ASA listed on the Oslo Stock Exchange in June 2012. In 2024, the company acquired 880 land units, including a major partnership with Ferd for an 800-unit property in Moss (400 units allocated to Selvaag Bolig) and prime sites in Stockholm's Norra Djurgårdsstaden and Bergen's Sandsli; it started construction on 559 units, the highest among non-system house developers, boosting its order backlog to over 1,000 units valued at NOK 7.2 billion by early 2025. Recent activities include repurchasing land plots from Urban Property for immediate construction starts, selling completed inventory to reduce holdings by NOK 500 million year-over-year, initiating a share buyback of up to 800,000 shares for employee incentives in November 2025, and proposing a NOK 1.25 per share dividend for 2024 representing 66% of earnings.