Cadeler A/S

BATS-CHIXE:CADLRO Stock Report

Market Cap: NOK 21.9b

Cadeler Valuation

Is CADLRO 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: CADLRO (NOK66.8) is trading below our estimate of fair value (NOK634.1)

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

Key Valuation Metric

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

Key metric: As CADLRO is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for CADLRO. This is calculated by dividing CADLRO's market cap by their current revenue.
What is CADLRO's PS Ratio?
PS Ratio10.2x
Sales€180.22m
Market Cap€1.85b

Price to Sales Ratio vs Peers

How does CADLRO's PS Ratio compare to its peers?

The above table shows the PS ratio for CADLRO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.4x
MGNS Morgan Sindall Group
0.4x3.2%UK£1.8b
KLR Keller Group
0.3x3.1%UK£1.0b
BBY Balfour Beatty
0.3x8.2%UK£2.3b
RNWH Renew Holdings
0.7x6.0%UK£747.1m
CADLRO Cadeler
10.2x51.7%NOK 21.9b

Price-To-Sales vs Peers: CADLRO is expensive based on its Price-To-Sales Ratio (10.2x) compared to the peer average (0.4x).

Price to Sales Ratio vs Industry

How does CADLRO's PS Ratio compare vs other companies in the European Construction Industry?

11 CompaniesPrice / SalesEstimated GrowthMarket Cap
No. of Companies31PS00.40.81.21.62+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: CADLRO is expensive based on its Price-To-Sales Ratio (10.2x) compared to the European Construction industry average (0.4x).

Price to Sales Ratio vs Fair Ratio

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

CADLRO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate CADLRO's Price-To-Sales Fair Ratio for valuation analysis.

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 CADLRO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
NOK 82.90
0%
8.4%NOK 92.05NOK 71.80n/a7
Dec ’25NOK 66.80
NOK 82.90
+24.1%
8.4%NOK 92.05NOK 71.80n/a7
Nov ’25n/a
NOK 81.41
0%
7.6%NOK 93.03NOK 72.44n/a7
Oct ’25n/a
NOK 82.10
0%
7.0%NOK 92.02NOK 73.32n/a7
Sep ’25NOK 69.40
NOK 79.63
+14.7%
7.1%NOK 89.68NOK 71.46n/a7
Aug ’25n/a
NOK 74.92
0%
8.0%NOK 87.06NOK 69.26n/a7
Jul ’25NOK 68.10
NOK 74.92
+10.0%
8.0%NOK 87.06NOK 69.26n/a7
Jun ’25n/a
NOK 70.88
0%
13.4%NOK 87.04NOK 59.06n/a7
May ’25n/a
NOK 64.69
0%
8.8%NOK 71.45NOK 58.55n/a6
Apr ’25n/a
NOK 64.26
0%
8.1%NOK 71.94NOK 58.95n/a6
Mar ’25n/a
NOK 64.01
0%
9.0%NOK 72.58NOK 57.78n/a6
Feb ’25n/a
NOK 61.57
0%
7.5%NOK 70.31NOK 57.19n/a6
Jan ’25n/a
NOK 56.41
0%
12.2%NOK 70.02NOK 48.69n/a6
Dec ’24n/a
NOK 56.46
0%
6.6%NOK 61.48NOK 51.20NOK 66.805
Nov ’24n/a
NOK 57.36
0%
7.1%NOK 62.04NOK 51.16n/a5
Oct ’24n/a
NOK 55.31
0%
6.6%NOK 59.45NOK 49.03n/a6
Sep ’24n/a
NOK 56.55
0%
6.4%NOK 60.15NOK 50.09NOK 69.405
Aug ’24n/a
NOK 57.13
0%
5.2%NOK 60.16NOK 51.99n/a5
Jul ’24NOK 44.78
NOK 57.13
+27.6%
5.2%NOK 60.16NOK 51.99NOK 68.105
Jun ’24n/a
NOK 56.37
0%
6.4%NOK 61.42NOK 52.72n/a5
May ’24n/a
NOK 54.34
0%
5.8%NOK 59.14NOK 50.76n/a5
Apr ’24NOK 41.99
NOK 53.75
+28.0%
5.9%NOK 58.36NOK 50.09n/a5
Mar ’24NOK 48.12
NOK 54.93
+14.2%
4.8%NOK 57.85NOK 50.77n/a4
Feb ’24NOK 41.15
NOK 52.15
+26.7%
9.8%NOK 56.95NOK 44.75n/a4
Jan ’24n/a
NOK 48.71
0%
12.9%NOK 54.96NOK 41.73n/a4
Dec ’23NOK 35.44
NOK 48.71
+37.4%
12.9%NOK 54.96NOK 41.73n/a4

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 Analysis2024/12/20 03:06
End of Day Share Price 2024/11/25 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

Cadeler A/S is covered by 8 analysts. 8 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Jørgen LandeDanske Bank
Martin KarlsenDNB Markets
Magnus AndersenFearnley Securities