DOF Group ASA

BATS-CHIXE:DOFGO Stock Report

Market Cap: NOK 16.6b

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 (NOK89.75) is trading below our estimate of fair value (NOK653.44)

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 Ratio4.4x
EarningsUS$345.06m
Market CapUS$1.50b

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 Average11.1x
HTG Hunting
4.5x-7.9%UK£482.4m
GMS Gulf Marine Services
5.6xn/aUK£179.8m
SEPL Seplat Energy
19.5x13.4%UK£1.3b
ITH Ithaca Energy
14.7x-8.4%UK£1.9b
DOFGO DOF Group
4.4x26.1%NOK 16.6b

Price-To-Earnings vs Peers: DOFGO is good value based on its Price-To-Earnings Ratio (4.4x) compared to the peer average (10.9x).

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 Companies7PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DOFGO is good value based on its Price-To-Earnings Ratio (4.4x) compared to the European Energy Services industry average (9.5x).

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 Ratio4.4x
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
CurrentNOK 89.75
NOK 138.25
+54.0%
5.8%NOK 150.00NOK 128.00n/a4
Nov ’25n/a
NOK 138.25
0%
5.8%NOK 150.00NOK 128.00n/a4
Oct ’25n/a
NOK 137.67
0%
6.7%NOK 150.00NOK 128.00n/a3
Sep ’25n/a
NOK 137.67
0%
6.7%NOK 150.00NOK 128.00n/a3
Aug ’25n/a
NOK 116.67
0%
2.0%NOK 120.00NOK 115.00n/a3
Jul ’25NOK 97.15
NOK 115.00
+18.4%
3.1%NOK 120.00NOK 110.00n/a4
Jun ’25NOK 91.80
NOK 110.00
+19.8%
5.6%NOK 115.00NOK 100.00n/a4
May ’25NOK 82.55
NOK 87.50
+6.0%
11.9%NOK 100.00NOK 72.00n/a4
Apr ’25NOK 72.26
NOK 87.50
+21.1%
11.9%NOK 100.00NOK 72.00n/a4
Mar ’25n/a
NOK 82.50
0%
9.3%NOK 93.00NOK 72.00n/a4
Feb ’25n/a
NOK 77.50
0%
9.2%NOK 88.00NOK 70.00n/a4
Jan ’25n/a
NOK 73.75
0%
5.1%NOK 80.00NOK 70.00n/a4
Dec ’24n/a
NOK 73.75
0%
5.1%NOK 80.00NOK 70.00n/a4
Nov ’24n/a
NOK 66.50
0%
9.5%NOK 75.00NOK 59.00n/a4
Oct ’24n/a
NOK 66.50
0%
9.5%NOK 75.00NOK 59.00n/a4
Sep ’24n/a
NOK 65.67
0%
5.0%NOK 70.00NOK 62.00n/a3
Aug ’24n/a
NOK 57.50
0%
4.3%NOK 60.00NOK 55.00n/a2

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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