A Look At The Intrinsic Value Of Olav Thon Eiendomsselskap ASA (OB:OLT)
Today we'll do a simple run through of a valuation method used to estimate the attractiveness of Olav Thon...
Norwegian (OSEAX) Real Estate Industry Analysis
UpdatedJan 26, 2022
DataAggregated Company Financials
Companies12
- 7D0.02%
- 3M-3.7%
- 1Y6.8%
- YTD-2.4%
Over the last 7 days, the Real Estate industry has remained flat. As for the the longer term, the industry is up 6.8% over the past 12 months.
Industry Valuation and Performance
Has the Norwegian Real Estate Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE |
|---|---|---|---|---|
| Thu, 27 Jan 2022 | kr93.0b | kr13.8b | kr14.0b | 9.3x |
| Sat, 25 Dec 2021 | kr93.7b | kr13.8b | kr14.0b | 8.8x |
| Mon, 22 Nov 2021 | kr107.7b | kr14.4b | kr16.2b | 8.6x |
| Wed, 20 Oct 2021 | kr106.1b | kr14.0b | kr16.2b | 8.2x |
| Fri, 17 Sep 2021 | kr106.3b | kr14.0b | kr16.2b | 8.8x |
| Sun, 15 Aug 2021 | kr101.4b | kr13.1b | kr13.8b | 8.9x |
| Thu, 10 Jun 2021 | kr88.9b | kr12.6b | kr12.5b | 11.2x |
| Wed, 03 Mar 2021 | kr83.9b | kr11.4b | kr10.0b | 10x |
| Sat, 05 Dec 2020 | kr79.2b | kr12.5b | kr4.7b | 12.2x |
| Tue, 08 Sep 2020 | kr67.1b | kr13.2b | kr5.0b | 9.3x |
| Mon, 01 Jun 2020 | kr67.0b | kr15.0b | kr5.6b | 10.1x |
| Thu, 05 Mar 2020 | kr80.4b | kr15.4b | kr7.1b | 13x |
| Sun, 08 Dec 2019 | kr76.3b | kr14.8b | kr6.8b | 13.9x |
| Sat, 31 Aug 2019 | kr70.7b | kr14.2b | kr6.5b | 15.4x |
| Tue, 04 Jun 2019 | kr68.8b | kr13.0b | kr7.2b | 8.9x |
| Fri, 08 Mar 2019 | kr68.8b | kr13.1b | kr7.9b | 8.1x |
PE Ratio
8.1x
Current Industry PE: Investors are relatively neutral on the industry at the moment, considering it's trading close to its 3-year average PE ratio of 10.6x. However, future earnings are expected to decline by 38% which could potentially cause the PE ratio to fall below its historical average.
Past Earnings Growth: The earnings for companies in the Real Estate industry have grown 21% per year over the last three years, while revenues have remained mostly flat. This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.
Industry Trends
Which industries have driven the changes within the Norwegian Real Estate industry?
| Real Estate Development | 1.09% | |
| Real Estate Services | 0% | |
| Real Estate Operating Companies | -0.088% | |
Industry PE: Investors are most optimistic about the Real Estate Operating Companies industry, which is trading close to its 3-year average PE ratio of 10.9x. However analysts are expecting annual earnings decline of 42%, which is lower than the prior year's growth of 142% per year. So the market might believe that analysts are underestimating future growth or they expect the Real Estate Operating Companies industry's earnings to deteriorate the least compared to other industries. Meanwhile, investors are most pessimistic about the Real Estate Development industry, which is trading below its 3-year average of 13.3x.
Forecasted Growth: Despite it being negative, analysts are least pessimistic on the Real Estate Development industry since they expect its earnings to decline by only 11% per year over the next 5 years, which isn't as bad as the other industries. Even still, this is an improvement from its past earnings decline of 66% per year. Meanwhile, the Real Estate Operating Companies industry is expected to see its earnings decline by 42% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| ENTRA Entra | kr192.80 | 1.2% +kr418.7m | 1.4% | PB1.2x | |
| OLT Olav Thon Eiendomsselskap | kr193.00 | 0.5% +kr103.6m | 14.2% | PB0.7x | |
| AURA Aurora Eiendom | kr104.98 | 1.9% +kr40.3m | n/a | n/a | |
| SBO Selvaag Bolig | kr53.10 | 0.6% +kr27.8m | 0.4% | PB2.2x | |
| ROM RomReal | kr2.36 | 15.7% +kr13.2m | 10.3% | PB0.6x |