Borregaard ASA

DB:BO4 Stock Report

Market Cap: €1.5b

Borregaard Valuation

Is BO4 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • 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 BO4 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: BO4 (€14.7) is trading above our estimate of fair value (€5.66)

Significantly Below Fair Value: BO4 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BO4?

Key metric: As BO4 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BO4. This is calculated by dividing BO4's market cap by their current earnings.
What is BO4's PE Ratio?
PE Ratio21.7x
EarningsNOK 813.00m
Market CapNOK 17.66b

Price to Earnings Ratio vs Peers

How does BO4's PE Ratio compare to its peers?

The above table shows the PE ratio for BO4 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.5x
ACT AlzChem Group
11.6x12.8%€580.1m
WCH Wacker Chemie
27x36.4%€3.4b
EVK Evonik Industries
33.5x32.9%€7.7b
UZU Uzin Utz
10.1x2.1%€242.1m
BO4 Borregaard
21.7x13.5%€17.7b

Price-To-Earnings vs Peers: BO4 is expensive based on its Price-To-Earnings Ratio (21.7x) compared to the peer average (20.5x).

Price to Earnings Ratio vs Industry

How does BO4's PE Ratio compare vs other companies in the European Chemicals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BO4 21.7xIndustry Avg. 16.9xNo. of Companies12PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BO4 is expensive based on its Price-To-Earnings Ratio (21.7x) compared to the European Chemicals industry average (16.9x).

Price to Earnings Ratio vs Fair Ratio

What is BO4'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.

BO4 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.7x
Fair PE Ratio14x

Price-To-Earnings vs Fair Ratio: BO4 is expensive based on its Price-To-Earnings Ratio (21.7x) compared to the estimated Fair Price-To-Earnings Ratio (14x).

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 BO4 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€14.70
€19.32
+31.4%
1.7%€19.68€18.83n/a4
Dec ’25€15.64
€19.32
+23.5%
1.7%€19.68€18.83n/a4
Nov ’25€16.08
€19.11
+18.8%
1.7%€19.44€18.60n/a4
Oct ’25€16.66
€17.62
+5.7%
9.8%€19.35€14.79n/a4
Sep ’25€16.46
€17.62
+7.0%
9.8%€19.35€14.79n/a4
Aug ’25€15.62
€17.44
+11.7%
10.9%€19.27€14.31n/a4
Jul ’25€16.82
€18.50
+10.0%
12.7%€21.39€14.90n/a4
Jun ’25€16.76
€17.19
+2.6%
10.2%€18.74€14.41n/a4
May ’25€15.96
€17.19
+7.7%
10.2%€18.74€14.41n/a4
Apr ’25€15.86
€17.52
+10.5%
10.5%€19.46€14.53n/a4
Mar ’25€15.80
€17.52
+10.9%
10.5%€19.46€14.53n/a4
Feb ’25€15.54
€16.59
+6.8%
9.3%€18.48€14.52n/a4
Jan ’25€15.14
€15.64
+3.3%
7.1%€17.04€14.06n/a4
Dec ’24€14.78
€15.41
+4.2%
8.1%€16.91€13.52€15.644
Nov ’24€12.66
€15.76
+24.5%
8.4%€16.90€13.52€16.084
Oct ’24€13.68
€16.53
+20.8%
8.6%€17.96€14.37€16.664
Sep ’24€13.28
€16.53
+24.4%
8.6%€17.96€14.37€16.464
Aug ’24€14.64
€16.53
+12.9%
8.6%€17.96€14.37€15.624
Jul ’24€13.56
€15.61
+15.1%
13.3%€17.72€12.35€16.824
Jun ’24€15.36
€16.01
+4.2%
13.4%€17.69€12.33€16.764
May ’24€15.02
€16.90
+12.5%
14.0%€18.30€12.81€15.964
Apr ’24€15.14
€16.90
+11.6%
14.0%€18.30€12.81€15.864
Mar ’24€15.88
€16.90
+6.4%
14.0%€18.30€12.81€15.804
Feb ’24€14.94
€16.82
+12.6%
13.6%€19.42€13.59€15.544
Jan ’24€14.36
€16.82
+17.1%
13.6%€19.42€13.59€15.144
Dec ’23€15.08
€16.82
+11.6%
13.6%€19.42€13.59€14.784

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 19:35
End of Day Share Price 2024/12/20 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 here.

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 .

Analyst Sources

Borregaard ASA is covered by 7 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
Andres Castanos-MollorBerenberg
Bent RollandBeringer Finance AB
Niclas GehinDNB Markets