May 2026
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Largest Asset Management Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
Storebrand, Arendals Fossekompani, Treasure ASA, Saga Pure and North Energy.
 | Storebrand ASA is a Nordic long-term savings and insurance company. The business is divided into four segments Savings, Insurance, Guaranteed Pension, and Others. The Savings segment includes products for retirement savings with no interest rate guarantees which defined contribution pensions in Norway and Sweden, asset management, and retail banking products. The Insurance segment provides risk products in Norway and Sweden, it provides health, property and casualty, personal risk products, and others. The Guaranteed Pension business area encompasses long-term pension savings products that give customers a guaranteed rate of return. Other segment consists of other companies within the Storebrand Group, including smaller subsidiaries of Storebrand Livsforsikring and SPP. | $19 | +26% | $8B | $13B | 1.5x | - | ||
| Arendals Fossekompani ASA is an industrial investment company holding several core investments and a portfolio of financial investments. The company invests in and owns companies that make energy from renewable sources more usable and accessible, and that contribute to a more sustainable use of resources. It owns and operates two hydropower plants. In addition, the firm operates globally in many forward-looking industries including 3D printing, algo trading, satellite services, battery and solar technology, software and digitalization, as well as various green energy technologies. The company has ten operating segments; Group Management, AFK Vannkraft, NSSLGIobaI, ENRX, Tekna, Alytic, Property, and Others. | $19 | +40% | $1B | $1B | 2.7x | 26.6x | ||
| Treasure ASA is an investment company. The principal activity of the company is an investment in financial assets and investments in other companies with similar activities. It has one reportable segment is it's investment in Hyundai Glovis. | $4 | -- | $813M | $813M | - | - | ||
| Saga Pure ASA is an investment company. The Group's primary business activity is focused on investment and management related to industries, energy, and real estate, which includes ownership and investment in other businesses. The company comprises two segments, namely Investments and Other segments. The Investment segment is focused on managing and investing in various business ventures, while the Other segment provides consulting services from internal industry specialists. | $0 | +12% | $106M | $35M | 34.7x | 33.4x | ||
| North Energy ASA is an industrial holding company with a portfolio of independent investments, both listed and unlisted. The Group reports only one business segment which includes the investment activities The Company evaluates companies both within the traditional energy industry, as well as emerging sectors such as renewable energy production and related activities. In addition, the Company continues to evaluate possibilities within other industries outside the energy sector. | $0 | -11% | $31M | $20M | 81.5x | (5.3x) | ||
| Hermana Holding ASA is an investment and royalty company based in Oslo. The Group mainly holds and manages an FPSO license agreement, generating proceeds from FPSO design royalties and remaining royalty rights related to the Western Isles FPSO. Opportunity-driven and focused on the Nordic region, the Group operates as a single reportable segment, as all activities are managed on an integrated basis and mainly relate to the FPSO licensing agreement. The Group also provides advisory services. | $2 | +12% | $22M | $22M | 171.8x | (38.9x) | ||
| Median | $3 | +12% | $459M | $424M | 34.7x | 10.7x |
Financial data powered by FactSet and Morningstar. Valuation multiples as of current fiscal year. For more data, start your free trial here.
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