Protector Forsikring ASA

DB:PR4 Stock Report

Market Cap: €2.3b

Protector Forsikring Valuation

Is PR4 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 PR4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
€75.27
Fair Value
63.9% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: PR4 (€27.2) is trading below our estimate of fair value (€75.27)

Significantly Below Fair Value: PR4 is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for PR4?

Key metric: As PR4 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for PR4. This is calculated by dividing PR4's market cap by their current earnings.
What is PR4's PE Ratio?
PE Ratio13.4x
EarningsNOK 1.95b
Market CapNOK 26.21b

Price to Earnings Ratio vs Peers

How does PR4's PE Ratio compare to its peers?

The above table shows the PE ratio for PR4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average14.1x
NBG6 NÜRNBERGER Beteiligungs-AG
13.5x38.8%€562.2m
TLX Talanx
11.3x5.2%€21.4b
RLV RheinLand Holding
12.2xn/a€111.4m
DFV DFV Deutsche Familienversicherung
19.6xn/a€83.9m
PR4 Protector Forsikring
13.4x3.9%€26.2b

Price-To-Earnings vs Peers: PR4 is good value based on its Price-To-Earnings Ratio (13.4x) compared to the peer average (14.1x).

Price to Earnings Ratio vs Industry

How does PR4's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
PR4 13.4xIndustry Avg. 12.2xNo. of Companies13PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PR4 is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the European Insurance industry average (12.2x).

Price to Earnings Ratio vs Fair Ratio

What is PR4'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.

PR4 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio13.4x
Fair PE Ratio9.7x

Price-To-Earnings vs Fair Ratio: PR4 is expensive based on its Price-To-Earnings Ratio (13.4x) compared to the estimated Fair Price-To-Earnings Ratio (9.7x).

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 PR4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€27.20
€31.82
+17.0%
1.7%€32.39€31.11n/a3
Feb ’26€27.55
€31.82
+15.5%
1.7%€32.39€31.11n/a3
Jan ’26€24.05
€25.89
+7.6%
13.7%€29.55€21.10n/a3
Dec ’25€24.65
€25.89
+5.0%
13.7%€29.55€21.10n/a3
Nov ’25€23.85
€25.89
+8.5%
13.7%€29.55€21.10n/a3
Oct ’25€20.55
€23.09
+12.3%
6.0%€24.80€21.38n/a3
Sep ’25€19.08
€23.09
+21.0%
6.0%€24.80€21.38n/a3
Aug ’25€18.46
€23.09
+25.1%
6.0%€24.80€21.38n/a3
Jul ’25€22.35
€22.84
+2.2%
4.0%€24.03€21.85n/a3
Jun ’25€20.85
€22.02
+5.6%
3.1%€22.89€21.20n/a3
May ’25€18.84
€22.02
+16.9%
3.1%€22.89€21.20n/a3
Apr ’25€19.40
€21.97
+13.2%
3.8%€23.05€21.04n/a3
Mar ’25€18.78
€21.97
+17.0%
3.8%€23.05€21.04n/a3
Feb ’25€18.96
€21.14
+11.5%
10.3%€23.26€18.15€27.553
Jan ’25€15.66
€17.61
+12.5%
2.6%€18.18€17.07€24.053
Dec ’24€16.54
€17.61
+6.5%
2.6%€18.18€17.07€24.653
Nov ’24€14.90
€17.61
+18.2%
2.6%€18.18€17.07€23.853
Oct ’24€15.00
€17.94
+19.6%
4.1%€18.91€17.14€20.553
Sep ’24€14.98
€17.94
+19.7%
4.1%€18.91€17.14€19.083
Aug ’24€14.76
€17.94
+21.5%
4.1%€18.91€17.14€18.463
Jul ’24€14.10
€16.87
+19.6%
5.7%€18.03€15.66€22.353
Jun ’24€14.24
€16.60
+16.6%
4.3%€17.30€15.61€20.853
May ’24€13.12
€15.78
+20.3%
7.5%€17.46€14.90€18.843
Apr ’24€11.96
€16.05
+34.2%
3.4%€16.79€15.47€19.403
Mar ’24€13.20
€16.09
+21.9%
1.4%€16.31€15.86€18.782
Analyst Price Target
Consensus Narrative from 3 Analysts
€31.93
Fair Value
14.8% undervalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/08 12:28
End of Day Share Price 2025/02/07 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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

Protector Forsikring ASA is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gianandrea RobertiCarnegie Investment Bank AB
Håkon AstrupDNB Markets
Kimmo RämäHandelsbanken Capital Markets