Vår Energi AS

LSE:0AAY Stock Report

Market Cap: NOK 84.6b

Vår Energi Valuation

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

Below Fair Value: 0AAY (NOK33.94) is trading below our estimate of fair value (NOK44.94)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0AAY. This is calculated by dividing 0AAY's market cap by their current earnings.
What is 0AAY's PE Ratio?
PE Ratio12.8x
EarningsUS$576.74m
Market CapUS$7.39b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0AAY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.9x
HBR Harbour Energy
45x14.4%UK£3.5b
ITH Ithaca Energy
19.2x-3.9%UK£1.7b
SEPL Seplat Energy
18.1x13.4%UK£1.2b
DEC Diversified Energy
5.3x2.4%UK£606.8m
0AAY Vår Energi
12.8x16.7%NOK 84.6b

Price-To-Earnings vs Peers: 0AAY is good value based on its Price-To-Earnings Ratio (12.8x) compared to the peer average (21.9x).

Price to Earnings Ratio vs Industry

How does 0AAY's PE Ratio compare vs other companies in the GB Oil and Gas Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
ROSN Rosneft Oil
1.5xn/aUS$21.03b
INDI Indus Gas
0.9xn/aUS$19.03m
No more companies available in this PE range
0AAY 12.8xIndustry Avg. 9.3xNo. of Companies4PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0AAY is expensive based on its Price-To-Earnings Ratio (12.8x) compared to the UK Oil and Gas industry average (9.3x).

Price to Earnings Ratio vs Fair Ratio

What is 0AAY'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.

0AAY PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.8x
Fair PE Ratio17.7x

Price-To-Earnings vs Fair Ratio: 0AAY is good value based on its Price-To-Earnings Ratio (12.8x) compared to the estimated Fair Price-To-Earnings Ratio (17.7x).

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 0AAY forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 33.94
NOK 42.90
+26.4%
8.6%NOK 49.20NOK 34.34n/a14
Dec ’25NOK 36.18
NOK 42.33
+17.0%
8.6%NOK 48.56NOK 33.90n/a14
Nov ’25NOK 34.61
NOK 42.17
+21.9%
8.6%NOK 48.25NOK 33.68n/a14
Oct ’25NOK 32.62
NOK 42.53
+30.4%
10.7%NOK 48.09NOK 33.05n/a14
Sep ’25NOK 36.05
NOK 43.22
+19.9%
12.3%NOK 52.97NOK 32.75n/a14
Aug ’25NOK 35.06
NOK 43.96
+25.4%
11.6%NOK 53.12NOK 34.08n/a14
Jul ’25NOK 37.88
NOK 42.85
+13.1%
11.7%NOK 52.87NOK 33.19n/a14
Jun ’25NOK 37.06
NOK 41.70
+12.5%
12.2%NOK 51.38NOK 32.69n/a14
May ’25NOK 36.82
NOK 42.85
+16.4%
11.2%NOK 50.27NOK 34.23n/a13
Apr ’25NOK 35.47
NOK 40.65
+14.6%
11.1%NOK 50.01NOK 32.26n/a13
Mar ’25NOK 33.00
NOK 38.99
+18.2%
10.3%NOK 44.95NOK 31.52n/a11
Feb ’25NOK 31.10
NOK 38.79
+24.7%
10.3%NOK 44.99NOK 32.20n/a10
Jan ’25NOK 32.07
NOK 37.46
+16.8%
14.9%NOK 42.04NOK 23.76n/a9
Dec ’24NOK 34.48
NOK 39.46
+14.4%
14.8%NOK 43.83NOK 25.14NOK 36.189
Nov ’24NOK 37.76
NOK 40.67
+7.7%
14.0%NOK 45.02NOK 25.83NOK 34.6110
Oct ’24NOK 31.24
NOK 36.96
+18.3%
11.5%NOK 40.21NOK 25.80NOK 32.629
Sep ’24NOK 31.36
NOK 37.53
+19.7%
12.2%NOK 41.50NOK 25.77NOK 36.059
Aug ’24NOK 30.80
NOK 35.88
+16.5%
11.6%NOK 40.46NOK 24.59NOK 35.0610
Jul ’24NOK 29.19
NOK 36.94
+26.6%
12.9%NOK 44.90NOK 26.05NOK 37.8810
Jun ’24NOK 24.94
NOK 37.30
+49.6%
13.9%NOK 45.61NOK 26.03NOK 37.0611
May ’24NOK 27.90
NOK 37.01
+32.6%
14.5%NOK 47.03NOK 26.03NOK 36.8212
Apr ’24NOK 25.28
NOK 39.28
+55.4%
16.9%NOK 48.49NOK 25.39NOK 35.4712
Mar ’24NOK 29.77
NOK 40.22
+35.1%
16.7%NOK 48.29NOK 25.28NOK 33.0011
Feb ’24NOK 30.09
NOK 41.51
+37.9%
20.1%NOK 54.34NOK 24.14NOK 31.1011
Jan ’24NOK 33.78
NOK 43.69
+29.4%
14.8%NOK 52.68NOK 33.47NOK 32.0710
Dec ’23NOK 36.47
NOK 43.69
+19.8%
14.8%NOK 52.68NOK 33.47NOK 34.4810

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 Analysis2024/12/19 00:54
End of Day Share Price 2024/12/19 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

Vår Energi AS is covered by 18 analysts. 13 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Lydia RainforthBarclays
Matthew SmithBofA Global Research
Jørgen LandeDanske Bank