Aker Valuation

Q: What is the Fair Price of 0MJX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0MJX (NOK547.13) is trading below our estimate of [[fair value]] (NOK911.22)

Is 0MJX 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 0MJX when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0MJX (NOK547.13) is trading below our estimate of fair value (NOK911.22)

Significantly Below Fair Value: 0MJX is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0MJX?

Key metric: As 0MJX is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0MJX. This is calculated by dividing 0MJX's market cap by their current earnings.
What is 0MJX's PE Ratio?
PE Ratio	12.9x
Earnings	NOK 3.17b
Market Cap	NOK 40.79b

0MJX key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	4.7x
Enterprise Value/EBITDA	-87x
PEG Ratio	n/a

Price to Earnings Ratio vs Peers

How does 0MJX's PE Ratio compare to its peers?

The above table shows the PE ratio for 0MJX vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	20.1x
DCC DCC	15.4x	11.9%	UK£5.1b
SMIN Smiths Group	23.5x	13.6%	UK£5.9b
ROR Rotork	22.3x	10.0%	UK£2.7b
RS1 RS Group	19x	16.5%	UK£3.2b
0MJX Aker	12.9x	n/a	NOK 40.8b

Price-To-Earnings vs Peers: 0MJX is good value based on its Price-To-Earnings Ratio (12.9x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

How does 0MJX's PE Ratio compare vs other companies in the European Industrials Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0MJX is good value based on its Price-To-Earnings Ratio (12.9x) compared to the European Industrials industry average (16.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0MJX'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.

0MJX PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	12.9x
Fair PE Ratio	n/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate 0MJX's Price-To-Earnings 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 0MJX forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 547.13	NOK 796.25 +45.5%	4.5%	NOK 850.00	NOK 750.00	n/a	4
Dec ’25	NOK 575.77	NOK 796.25 +38.3%	4.5%	NOK 850.00	NOK 750.00	n/a	4
Nov ’25	NOK 572.54	NOK 849.75 +48.4%	6.9%	NOK 900.00	NOK 750.00	n/a	4
Oct ’25	NOK 557.45	NOK 853.80 +53.2%	6.2%	NOK 900.00	NOK 750.00	n/a	5
Sep ’25	NOK 598.96	NOK 853.80 +42.5%	6.2%	NOK 900.00	NOK 750.00	n/a	5
Aug ’25	NOK 635.00	NOK 853.80 +34.5%	6.2%	NOK 900.00	NOK 750.00	n/a	5
Jul ’25	NOK 624.00	NOK 843.00 +35.1%	6.0%	NOK 900.00	NOK 750.00	n/a	5
Jun ’25	NOK 625.00	NOK 850.00 +36.0%	6.0%	NOK 900.00	NOK 780.00	n/a	3
May ’25	NOK 616.80	NOK 850.00 +37.8%	6.0%	NOK 900.00	NOK 780.00	n/a	3
Apr ’25	NOK 623.50	NOK 850.00 +36.3%	6.0%	NOK 900.00	NOK 780.00	n/a	3
Mar ’25	NOK 579.32	NOK 883.33 +52.5%	1.4%	NOK 900.00	NOK 870.00	n/a	3
Feb ’25	NOK 624.79	NOK 883.33 +41.4%	1.4%	NOK 900.00	NOK 870.00	n/a	3
Jan ’25	NOK 668.98	NOK 858.75 +28.4%	5.1%	NOK 900.00	NOK 785.00	NOK 547.13	4
Dec ’24	NOK 667.40	NOK 858.75 +28.7%	5.1%	NOK 900.00	NOK 785.00	NOK 575.77	4
Nov ’24	NOK 650.77	NOK 871.25 +33.9%	6.7%	NOK 950.00	NOK 785.00	NOK 572.54	4
Oct ’24	NOK 666.32	NOK 871.25 +30.8%	6.7%	NOK 950.00	NOK 785.00	NOK 557.45	4
Sep ’24	NOK 659.51	NOK 871.25 +32.1%	6.7%	NOK 950.00	NOK 785.00	NOK 598.96	4
Aug ’24	NOK 646.01	NOK 871.25 +34.9%	6.7%	NOK 950.00	NOK 785.00	NOK 635.00	4
Jul ’24	NOK 608.50	NOK 871.25 +43.2%	6.7%	NOK 950.00	NOK 785.00	NOK 624.00	4
Jun ’24	NOK 594.14	NOK 925.00 +55.7%	5.7%	NOK 1,000.00	NOK 870.00	NOK 625.00	4
May ’24	NOK 649.74	NOK 925.00 +42.4%	5.7%	NOK 1,000.00	NOK 870.00	NOK 616.80	4
Apr ’24	NOK 660.46	NOK 925.00 +40.1%	5.7%	NOK 1,000.00	NOK 870.00	NOK 623.50	4
Mar ’24	NOK 737.18	NOK 925.00 +25.5%	5.7%	NOK 1,000.00	NOK 870.00	NOK 579.32	4
Feb ’24	NOK 730.55	NOK 972.50 +33.1%	6.1%	NOK 1,020.00	NOK 870.00	NOK 624.79	4
Jan ’24	NOK 726.50	NOK 972.50 +33.9%	6.1%	NOK 1,020.00	NOK 870.00	NOK 668.98	4

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

Data	Last Updated (UTC time)
Company Analysis	2025/01/01 08:55
End of Day Share Price	2024/12/30 00:00
Earnings	2024/06/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Aker ASA is covered by 9 analysts. 0 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Thijs Berkelder	ABN AMRO Bank N.V.
Christian Yggeseth	Arctic Securities ASA
Chr. Frederik Lunde	Carnegie Investment Bank AB