Subsea 7 S.A.

BATS-CHIXE:SUBCO Stock Report

Market Cap: NOK 56.0b

Subsea 7 Valuation

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

Below Fair Value: SUBCO (NOK189.25) is trading below our estimate of fair value (NOK707.11)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SUBCO. This is calculated by dividing SUBCO's market cap by their current earnings.
What is SUBCO's PE Ratio?
PE Ratio30.3x
EarningsUS$162.10m
Market CapUS$4.92b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SUBCO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.1x
HTG Hunting
4.4x-7.9%UK£472.1m
GMS Gulf Marine Services
5.1x16.5%UK£165.8m
HBR Harbour Energy
49.4x1.0%UK£3.8b
ITH Ithaca Energy
21.5x1.5%UK£1.9b
SUBCO Subsea 7
30.3x34.1%NOK 56.0b

Price-To-Earnings vs Peers: SUBCO is expensive based on its Price-To-Earnings Ratio (30.3x) compared to the peer average (19.7x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies7PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SUBCO is expensive based on its Price-To-Earnings Ratio (30.3x) compared to the European Energy Services industry average (8.9x).

Price to Earnings Ratio vs Fair Ratio

What is SUBCO'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.

SUBCO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio30.3x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SUBCO'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 SUBCO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 189.25
NOK 244.22
+29.0%
7.8%NOK 279.60NOK 205.21n/a16
Dec ’25n/a
NOK 236.03
0%
8.1%NOK 269.49NOK 198.68n/a16
Nov ’25n/a
NOK 237.05
0%
8.4%NOK 269.50NOK 200.52n/a17
Oct ’25NOK 170.05
NOK 228.90
+34.6%
7.8%NOK 259.16NOK 202.53n/a17
Sep ’25n/a
NOK 220.76
0%
15.8%NOK 260.87NOK 107.03n/a18
Aug ’25NOK 207.00
NOK 224.48
+8.4%
15.7%NOK 268.31NOK 110.08n/a19
Jul ’25NOK 202.10
NOK 209.95
+3.9%
15.5%NOK 242.50NOK 111.98n/a19
Jun ’25n/a
NOK 196.27
0%
14.2%NOK 230.62NOK 110.63n/a19
May ’25n/a
NOK 203.12
0%
13.5%NOK 231.71NOK 116.10n/a19
Apr ’25NOK 170.53
NOK 187.76
+10.1%
12.3%NOK 218.41NOK 115.05n/a18
Mar ’25n/a
NOK 174.23
0%
13.0%NOK 198.69NOK 107.32n/a18
Feb ’25n/a
NOK 171.74
0%
13.2%NOK 195.27NOK 106.52n/a19
Jan ’25n/a
NOK 165.21
0%
13.2%NOK 192.18NOK 104.84NOK 179.6019
Dec ’24NOK 150.33
NOK 172.37
+14.7%
13.8%NOK 202.35NOK 110.39n/a19
Nov ’24NOK 146.45
NOK 174.16
+18.9%
13.7%NOK 218.71NOK 122.08n/a19
Oct ’24n/a
NOK 165.92
0%
16.6%NOK 209.75NOK 95.48NOK 170.0518
Sep ’24n/a
NOK 166.17
0%
16.7%NOK 208.77NOK 95.03n/a18
Aug ’24n/a
NOK 156.24
0%
18.2%NOK 199.65NOK 90.88NOK 207.0018
Jul ’24NOK 131.10
NOK 155.28
+18.4%
18.5%NOK 201.40NOK 90.61NOK 202.1017
Jun ’24NOK 110.65
NOK 158.43
+43.2%
18.7%NOK 204.65NOK 89.87n/a17
May ’24NOK 115.45
NOK 153.50
+33.0%
19.3%NOK 201.63NOK 90.15n/a18
Apr ’24n/a
NOK 146.70
0%
21.0%NOK 199.84NOK 80.35NOK 170.5316
Mar ’24NOK 134.93
NOK 133.66
-0.9%
18.9%NOK 168.59NOK 80.03n/a17
Feb ’24NOK 123.40
NOK 122.96
-0.4%
18.9%NOK 160.19NOK 67.86n/a17
Jan ’24NOK 113.05
NOK 120.19
+6.3%
17.6%NOK 150.91NOK 68.89n/a17

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 Analysis2025/01/02 17:41
End of Day Share Price 2025/01/02 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

Subsea 7 S.A. is covered by 54 analysts. 15 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
John A. OlaisenABG Sundal Collier
Mark van der GeestABN AMRO Bank N.V.
Kjetil GarstadArctic Securities ASA