DOF Group ASA

BATS-CHIXE:DOFGO Stock Report

Market Cap: NOK 23.2b

DOF Group Valuation

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

Below Fair Value: DOFGO (NOK92.65) is trading below our estimate of fair value (NOK551.45)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DOFGO. This is calculated by dividing DOFGO's market cap by their current earnings.
What is DOFGO's PE Ratio?
PE Ratio5.5x
EarningsUS$414.00m
Market CapUS$2.29b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DOFGO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18x
GMS Gulf Marine Services
7x16.67%UK£181.8m
ENOG Energean
15.8x21.07%UK£1.6b
SEPL Seplat Energy
9.8x-4.36%UK£1.5b
TVK TerraVest Industries
39.5x17.59%CA$3.4b
DOFGO DOF Group
5.5x1.60%NOK 23.2b

Price-To-Earnings vs Peers: DOFGO is good value based on its Price-To-Earnings Ratio (5.5x) compared to the peer average (17.8x).

Price to Earnings Ratio vs Industry

How does DOFGO's PE Ratio compare vs other companies in the European Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies7PE0612182430+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DOFGO is good value based on its Price-To-Earnings Ratio (5.5x) compared to the European Energy Services industry average (10.8x).

Price to Earnings Ratio vs Fair Ratio

What is DOFGO'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.

DOFGO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio5.5x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate DOFGO'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 DOFGO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
NOK 126.00
0%
7.45%NOK 134.00NOK 110.00n/a4
Dec ’26NOK 92.65
NOK 126.00
+36.00%
7.45%NOK 134.00NOK 110.00n/a4
Nov ’26n/a
NOK 122.75
0%
6.70%NOK 130.00NOK 110.00n/a4
Oct ’26n/a
NOK 125.00
0%
6.93%NOK 130.00NOK 110.00n/a4
Sep ’26NOK 101.35
NOK 119.50
+17.91%
8.81%NOK 130.00NOK 108.00n/a4
Aug ’26n/a
NOK 119.00
0%
8.45%NOK 130.00NOK 108.00n/a4
Jul ’26n/a
NOK 119.00
0%
8.45%NOK 130.00NOK 108.00n/a4
Jun ’26NOK 87.08
NOK 119.00
+36.66%
8.45%NOK 130.00NOK 108.00n/a4
May ’26n/a
NOK 124.00
0%
13.48%NOK 142.00NOK 100.00n/a5
Apr ’26NOK 92.53
NOK 136.75
+47.80%
2.22%NOK 142.00NOK 135.00n/a4
Mar ’26n/a
NOK 134.00
0%
1.29%NOK 135.00NOK 131.00n/a4
Feb ’26n/a
NOK 135.25
0%
2.36%NOK 140.00NOK 131.00n/a4
Jan ’26n/a
NOK 138.25
0%
5.80%NOK 150.00NOK 128.00n/a4
Dec ’25n/a
NOK 138.25
0%
5.80%NOK 150.00NOK 128.00NOK 92.654
Nov ’25n/a
NOK 138.25
0%
5.80%NOK 150.00NOK 128.00n/a4
Oct ’25n/a
NOK 137.67
0%
6.67%NOK 150.00NOK 128.00n/a3
Sep ’25n/a
NOK 137.67
0%
6.67%NOK 150.00NOK 128.00NOK 101.353
Aug ’25n/a
NOK 116.67
0%
2.02%NOK 120.00NOK 115.00n/a3
Jul ’25NOK 97.15
NOK 115.00
+18.37%
3.07%NOK 120.00NOK 110.00n/a4
Jun ’25NOK 91.80
NOK 110.00
+19.83%
5.57%NOK 115.00NOK 100.00NOK 87.084
May ’25NOK 82.55
NOK 87.50
+6.00%
11.89%NOK 100.00NOK 72.00n/a4
Apr ’25NOK 72.26
NOK 87.50
+21.10%
11.89%NOK 100.00NOK 72.00NOK 92.534
Mar ’25n/a
NOK 82.50
0%
9.25%NOK 93.00NOK 72.00n/a4
Feb ’25n/a
NOK 77.50
0%
9.19%NOK 88.00NOK 70.00n/a4
Jan ’25n/a
NOK 73.75
0%
5.11%NOK 80.00NOK 70.00n/a4
Dec ’24n/a
NOK 73.75
0%
5.11%NOK 80.00NOK 70.00n/a4
NOK 123.93
Fair Value
25.2% undervalued intrinsic discount
4
Number of Analysts

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 Analysis2025/12/15 11:59
End of Day Share Price 2025/11/24 00:00
Earnings2025/09/30
Annual Earnings2024/12/31

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

DOF Group ASA is covered by 9 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
Salman AlamCarnegie Investment Bank AB
Jørgen LandeDanske Bank
Kristian AarliDNB Carnegie