Elopak ASA

OB:ELO Stock Report

Market Cap: NOK 13.8b

Elopak Valuation

Is ELO undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of ELO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NOK 150.60
Fair Value
65.8% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: ELO (NOK51.5) is trading below our estimate of fair value (NOK150.6)

Significantly Below Fair Value: ELO is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for ELO?

Key metric: As ELO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for ELO. This is calculated by dividing ELO's market cap by their current earnings.
What is ELO's PE Ratio?
PE Ratio20.8x
Earnings€55.73m
Market Cap€1.16b

Price to Earnings Ratio vs Peers

How does ELO's PE Ratio compare to its peers?

The above table shows the PE ratio for ELO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average25.7x
BRG Borregaard
21.9x11.19%NOK 19.4b
ELK Elkem
22.2x58.38%NOK 15.6b
002859 Zhejiang Jiemei Electronic And Technology
51.3x31.36%CN¥9.4b
RANA Rana Gruber
7.1x6.23%NOK 2.6b
ELO Elopak
20.8x14.26%NOK 13.8b

Price-To-Earnings vs Peers: ELO is good value based on its Price-To-Earnings Ratio (20.8x) compared to the peer average (25.7x).

Price to Earnings Ratio vs Industry

How does ELO's PE Ratio compare vs other companies in the European Packaging Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ELO 20.8xIndustry Avg. 14.9xNo. of Companies9PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ELO is expensive based on its Price-To-Earnings Ratio (20.8x) compared to the European Packaging industry average (14.9x).

Price to Earnings Ratio vs Fair Ratio

What is ELO's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

ELO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio20.8x
Fair PE Ratio14.8x

Price-To-Earnings vs Fair Ratio: ELO is expensive based on its Price-To-Earnings Ratio (20.8x) compared to the estimated Fair Price-To-Earnings Ratio (14.8x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst ELO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 51.50
NOK 49.68
-3.53%
7.20%NOK 54.82NOK 44.93n/a4
Jul ’26NOK 47.70
NOK 48.70
+2.10%
4.63%NOK 50.65NOK 45.05n/a4
Jun ’26NOK 44.70
NOK 47.26
+5.72%
4.65%NOK 50.04NOK 44.01n/a4
May ’26NOK 42.35
NOK 46.90
+10.74%
9.83%NOK 52.15NOK 40.05n/a4
Apr ’26NOK 39.50
NOK 47.83
+21.09%
5.22%NOK 50.76NOK 44.66n/a4
Mar ’26NOK 40.50
NOK 47.69
+17.74%
5.10%NOK 50.51NOK 44.45n/a4
Feb ’26NOK 41.25
NOK 49.72
+20.55%
8.03%NOK 55.08NOK 44.14n/a4
Jan ’26NOK 45.20
NOK 48.34
+6.95%
5.39%NOK 51.45NOK 44.34n/a4
Dec ’25NOK 43.95
NOK 47.73
+8.60%
5.50%NOK 50.99NOK 43.95n/a4
Nov ’25NOK 45.80
NOK 46.83
+2.26%
5.27%NOK 50.28NOK 44.05n/a4
Oct ’25NOK 43.20
NOK 44.83
+3.78%
9.44%NOK 50.02NOK 38.81n/a4
Sep ’25NOK 42.75
NOK 42.85
+0.24%
5.38%NOK 44.59NOK 38.89n/a4
Aug ’25NOK 38.65
NOK 41.88
+8.36%
6.17%NOK 44.12NOK 37.75n/a4
Jul ’25NOK 35.60
NOK 38.93
+9.36%
8.07%NOK 42.99NOK 34.96NOK 47.704
Jun ’25NOK 35.95
NOK 37.18
+3.41%
9.41%NOK 42.92NOK 33.89NOK 44.704
May ’25NOK 33.70
NOK 34.49
+2.35%
1.13%NOK 34.98NOK 34.03NOK 42.353
Apr ’25NOK 34.00
NOK 31.80
-6.48%
6.23%NOK 34.00NOK 29.20NOK 39.503
Mar ’25NOK 33.45
NOK 31.78
-5.00%
6.46%NOK 34.11NOK 29.12NOK 40.503
Feb ’25NOK 29.35
NOK 30.70
+4.60%
4.39%NOK 32.34NOK 29.04NOK 41.253
Jan ’25NOK 30.05
NOK 31.07
+3.40%
9.64%NOK 33.94NOK 26.94NOK 45.203
Dec ’24NOK 26.40
NOK 31.07
+17.69%
9.64%NOK 33.94NOK 26.94NOK 43.953
Nov ’24NOK 22.50
NOK 28.73
+27.68%
13.16%NOK 33.20NOK 23.95NOK 45.803
Oct ’24NOK 21.75
NOK 28.35
+30.36%
12.71%NOK 32.66NOK 23.84NOK 43.203
Sep ’24NOK 22.05
NOK 28.14
+27.63%
12.95%NOK 32.86NOK 23.98NOK 42.753
Aug ’24NOK 22.20
NOK 27.09
+22.05%
8.43%NOK 30.32NOK 23.87NOK 38.654
Jul ’24NOK 23.35
NOK 28.58
+22.38%
9.64%NOK 31.99NOK 25.24NOK 35.603
AnalystConsensusTarget
Consensus Narrative from 4 Analysts
NOK 49.68
Fair Value
3.7% overvalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/07/27 20:38
End of Day Share Price 2025/07/25 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Elopak ASA is covered by 6 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Charlie Muir-SandsBNP Paribas Exane
Niclas GehinDNB Carnegie