Belships ASA (NS6.BE)

Belships ASA (NS6.BE) — VMCI valuation read

Belships ASA (NS6.BE) carries a VMCI composite of 62/100, 12 points above the Industrials sector median of 50. Among mid-cap names, that gap places NS6.BE in the top third on the five-pillar weighting (Value 35%, Quality 30%, Integrity 15%, Growth 12%, Risk 8%).

The NS6.BE insider tape has been silent for the past 30 days on Form 4. Where executives neither buy nor sell, the bull and bear cases lean harder on filings cadence and the next earnings line.

**Investor frame.** Value reads NS6.BE trades at 24.0x earnings, 33% above the Industrials median of 18.0x, which compresses or extends through the 11.0x EV/EBITDA versus a Industrials 12.0x. Quality: ROIC of 14.0% sits 4.0pp above the Industrials median (10.0%). Risk: net debt to EBITDA of -1.2x leaves covenant headroom, the line to track on Belships ASA's next 10-Q.

NS6.BE rose 2.6% over the trailing 7 days, with a -12.0% read on a 30-day basis.