BW Offshore Limited

DB:XY81 Stock Report

Market Cap: €426.8m

BW Offshore Valuation

Is XY81 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

5/6

Valuation Score 5/6

  • 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 XY81 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: XY81 (€2.31) is trading below our estimate of fair value (€28.35)

Significantly Below Fair Value: XY81 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for XY81?

Key metric: As XY81 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for XY81. This is calculated by dividing XY81's market cap by their current earnings.
What is XY81's PE Ratio?
PE Ratio3.8x
EarningsUS$119.80m
Market CapUS$450.97m

Price to Earnings Ratio vs Peers

How does XY81's PE Ratio compare to its peers?

The above table shows the PE ratio for XY81 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average31.6x
VH2 Friedrich Vorwerk Group
19.4x12.9%€546.0m
ETG EnviTec Biogas
9.4xn/a€470.7m
CE2 CropEnergies
82.4xn/a€1.2b
CE2 CropEnergies
15.3x-7.5%€1.0b
XY81 BW Offshore
3.8x-36.1%€5.0b

Price-To-Earnings vs Peers: XY81 is good value based on its Price-To-Earnings Ratio (3.8x) compared to the peer average (31.6x).

Price to Earnings Ratio vs Industry

How does XY81's PE Ratio compare vs other companies in the European Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
XY81 3.8xIndustry Avg. 9.4xNo. of Companies7PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: XY81 is good value based on its Price-To-Earnings Ratio (3.8x) compared to the European Energy Services industry average (9.5x).

Price to Earnings Ratio vs Fair Ratio

What is XY81'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.

XY81 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.8x
Fair PE Ratio7.8x

Price-To-Earnings vs Fair Ratio: XY81 is good value based on its Price-To-Earnings Ratio (3.8x) compared to the estimated Fair Price-To-Earnings Ratio (7.8x).

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 XY81 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€2.31
€3.22
+39.8%
20.1%€3.77€2.31n/a3
Nov ’25€2.46
€3.37
+37.4%
9.8%€3.74€2.94n/a3
Oct ’25€2.39
€3.35
+40.5%
10.1%€3.73€2.91n/a3
Sep ’25€2.58
€3.35
+29.8%
10.1%€3.73€2.91n/a3
Aug ’25€2.54
€3.45
+35.9%
10.1%€3.83€2.99n/a3
Jul ’25€2.66
€3.45
+29.8%
10.1%€3.83€2.99n/a3
Jun ’25€2.59
€3.47
+34.1%
11.7%€3.95€2.96n/a3
May ’25€2.35
€3.70
+57.3%
8.2%€4.00€3.39n/a2
Apr ’25€2.29
€3.81
+66.7%
3.9%€3.96€3.66n/a2
Mar ’25€2.19
€3.33
+52.1%
9.5%€3.63€2.89n/a3
Feb ’25€2.09
€3.33
+59.3%
9.5%€3.63€2.89n/a3
Jan ’25€1.96
€3.28
+67.1%
8.3%€3.58€2.85n/a4
Dec ’24€1.90
€3.29
+73.3%
7.0%€3.50€2.91n/a4
Nov ’24€1.95
€3.36
+72.4%
7.8%€3.65€2.94€2.464
Oct ’24€2.15
€3.36
+56.2%
7.8%€3.65€2.94€2.394
Sep ’24€2.11
€3.45
+63.0%
12.4%€4.10€2.91€2.584
Aug ’24€2.45
€3.70
+51.1%
7.8%€4.07€3.29€2.544
Jul ’24€2.19
€3.69
+69.0%
6.6%€3.95€3.36€2.664
Jun ’24€2.15
€3.81
+76.8%
4.4%€3.95€3.57€2.593
May ’24€2.36
€3.79
+60.7%
5.4%€3.98€3.50€2.353
Apr ’24€2.60
€3.76
+44.7%
5.9%€4.03€3.54€2.294
Mar ’24€2.58
€3.87
+50.2%
6.0%€4.24€3.60€2.194
Feb ’24€2.41
€3.87
+60.4%
6.0%€4.24€3.60€2.094
Jan ’24€2.35
€3.87
+64.6%
6.0%€4.24€3.60€1.964
Dec ’23€2.43
€4.17
+72.0%
9.5%€4.73€3.69€1.904
Nov ’23€2.60
€4.38
+68.4%
7.5%€4.93€4.11€1.954

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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