We recognise Ferd’s investments at fair value. This means that the group reports its performance in terms of value-adjusted equity.
Ferd’s value-adjusted equity has grown from NOK 6.5 billion at its launch in 2001 to NOK 55.3 billion today, which is equivalent to an annual return of 10%
Value-adjusted equity
The table shows the fair value of our investments by business units:
Active owner
Active investor
Capital (NOK mill.)
37 902
5 112
8 622
34
15
12.31.2025
Ferd’s value-adjusted equity totalled NOK 55.3 billion as of 31 December 2025, up from NOK 50.4 billion as of 31 December 2024. In total, Ferd achieved a return on value-adjusted equity of 11.1 %. The return in NOK terms was NOK 5.6 billion.
