DNO ASA

BATS-CHIXE:DNOO Stock Report

Market Cap: NOK 19.1b

DNO Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: DNOO (NOK19.78) is trading below our estimate of future cash flow value (NOK26.52)

Significantly Below Future Cash Flow Value: DNOO is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DNOO. This is calculated by dividing DNOO's market cap by their current earnings.
What is DNOO's PE Ratio?
PE Ratio26.5x
EarningsUS$76.70m
Market CapUS$2.03b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DNOO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.1x
HBR Harbour Energy
20.6x7.51%UK£5.1b
SEPL Seplat Energy
22.5x-3.70%UK£5.0b
ITH Ithaca Energy
25.1x5.01%UK£4.9b
GKP Gulf Keystone Petroleum
16.3x19.35%UK£428.4m
DNOO DNO
26.5x28.39%NOK 19.1b

Price-To-Earnings vs Peers: DNOO is expensive based on its Price-To-Earnings Ratio (26.5x) compared to the peer average (21.1x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does DNOO's PE Ratio compare vs other companies in the GB Oil and Gas Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ROSN Rosneft Oil
1.5xn/aUS$21.03b
HUR Hurricane Energy
1.8xn/aUS$194.90m
SAVE Savannah Energy
1.3xn/aUS$149.05m
No more companies available in this PE range
No. of Companies4PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DNOO is expensive based on its Price-To-Earnings Ratio (26.5x) compared to the European Oil and Gas industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is DNOO'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.

DNOO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio26.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DNOO'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 DNOO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 19.78
NOK 22.05
+11.49%
8.99%NOK 24.55NOK 19.02n/a4
Sep ’27n/a
NOK 22.05
0%
8.99%NOK 24.55NOK 19.02n/a4
Aug ’27n/a
NOK 22.40
0%
10.60%NOK 24.87NOK 18.70n/a4
Jul ’27NOK 16.77
NOK 23.03
+37.37%
10.47%NOK 25.30NOK 19.03n/a4
Jun ’27NOK 18.19
NOK 22.28
+22.47%
6.43%NOK 23.90NOK 20.07n/a4
May ’27n/a
NOK 21.66
0%
7.07%NOK 23.92NOK 19.72n/a4
Apr ’27NOK 21.76
NOK 22.75
+4.54%
7.26%NOK 25.01NOK 21.11n/a3
Mar ’27n/a
NOK 16.30
0%
19.78%NOK 19.00NOK 10.94n/a4
Feb ’27NOK 15.89
NOK 16.10
+1.30%
14.87%NOK 18.75NOK 12.26n/a4
Jan ’27n/a
NOK 18.40
0%
5.51%NOK 19.80NOK 17.43n/a3
Dec ’26n/a
NOK 18.40
0%
5.51%NOK 19.80NOK 17.43n/a3
Nov ’26n/a
NOK 16.92
0%
12.99%NOK 18.87NOK 13.85n/a3
Oct ’26n/a
NOK 16.80
0%
12.03%NOK 18.72NOK 14.01n/a3
Sep ’26NOK 14.77
NOK 16.80
+13.71%
12.03%NOK 18.72NOK 14.01n/a3
Aug ’26n/a
NOK 15.72
0%
19.33%NOK 18.97NOK 11.30n/a4
Jul ’26NOK 13.41
NOK 15.62
+16.52%
18.86%NOK 19.03NOK 11.33NOK 16.774
Jun ’26n/a
NOK 15.62
0%
18.86%NOK 19.03NOK 11.33NOK 18.194
May ’26n/a
NOK 16.23
0%
19.90%NOK 20.25NOK 11.65n/a4
Apr ’26n/a
NOK 15.29
0%
15.19%NOK 17.90NOK 11.68NOK 21.764
Mar ’26n/a
NOK 15.71
0%
14.45%NOK 18.02NOK 12.41n/a4
Feb ’26n/a
NOK 15.71
0%
16.31%NOK 18.01NOK 11.79NOK 15.894
Jan ’26n/a
NOK 15.65
0%
16.47%NOK 18.07NOK 11.56n/a4
Dec ’25n/a
NOK 15.71
0%
16.97%NOK 18.40NOK 11.52n/a4
Nov ’25n/a
NOK 15.51
0%
15.00%NOK 18.00NOK 11.95n/a4
Oct ’25NOK 11.74
NOK 15.84
+34.92%
14.80%NOK 18.19NOK 12.02n/a4
Sep ’25n/a
NOK 14.63
0%
19.19%NOK 17.90NOK 11.50NOK 14.774
NOK 22.22
Fair Value
11.0% undervalued intrinsic discount
4
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 Analysis2026/09/20 10:55
End of Day Share Price 2026/09/16 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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 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

DNO ASA is covered by 21 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
null nullABG Sundal Collier
Rafal GutajBofA Global Research
Charlie SharpCanaccord Genuity