DOF Group (DOFG.OL) — 2026-W151

Analysis date: 2026-05-31 | Country: NO | Currency: USD

Recommendation Summary

Field	Value
Rating	Buy
Intrinsic Value	145.0 USD
24m Target	132.0 USD
Price at Analysis	117.8 USD
Buffett Score	12/20
ROIC	14.9%
Economic Profit	+2,220.5M USD
Implied Upside (IV)	23.1%

Data quality warning: Börsdata borsdata_v1 — possible scale/currency issue. Use EV multiples for valuation.

Research history · this company (4 notes)

2026-W151 · 2026-05-31 · DOFG.OLviewingBuy · ROIC 15% · tgt 132 NOKΔ tgt +6% · IV +17% · HOLD→Buy · LOW→medium convDOF Group: Marginellt värdeskapande

2026-06-15 · 2026-06-15 · DOFG.OLHOLD · tgt 124 NOK 2026-06-11 · 2026-06-11 · DOFG.OLHOLD · tgt 124 NOK 2026-06-09 · 2026-06-09 · DOFG.OLHOLD · tgt 122.83 NOKfirst note

0. Company Identification

Ticker: DOFG.OL | Name: DOF Group | Country: NO | Sector: Industrial/Commercial

1. What the Company Sells

DOF Group operates in the Nordic market. ROIC 14.9% vs WACC 8% → EP +2,220.5M USD.

2. Who Pays and Why They Stay

Customers pay for products/services based on value proposition and brand strength.

3. Revenue Model

Revenue generated through product/service sales. Scalability and recurring revenue characteristics vary by segment.

4. Margin and Cash Mechanics

ROIC 14.9% vs WACC 8.0% → Economic Profit +2,220.5M USD.

5. Supply-side Dependencies

Raw materials, suppliers, distribution channels, and human capital.

6. Competitive Position

Moat strength: 3/5. Brand strength, technology, and customer relationships drive competitive advantage.

7. Growth Engine

Market penetration, geographic expansion, and product development.

8. Business Model Risks

Top risks: Cyclical demand, competitive pressure, raw material costs, macro exposure.

9. History, Management & ESG

Established Nordic industrial company with stable management.

10. Synthesis and Recommendation

Buy — DOF Group: Observation candidate, await data and price development.

mttssn research · DOF Group (DOFG.OL) · 2026-W151 · 2026-05-31