Frontline plc

LSE:0REH Stock Report

Market Cap: NOK 49.6b

Frontline Valuation

Is 0REH undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: 0REH (NOK113.3) is trading below our estimate of fair value (NOK238.21)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0REH. This is calculated by dividing 0REH's market cap by their current earnings.
What is 0REH's PE Ratio?
PE Ratio7.6x
EarningsUS$594.51m
Market CapUS$4.49b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0REH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average19.1x
HBR Harbour Energy
46.8x14.4%UK£3.6b
NWF NWF Group
8.1x3.1%UK£73.7m
ENOG Energean
8.6x7.0%UK£1.9b
ITH Ithaca Energy
12.8x-9.3%UK£1.6b
0REH Frontline
7.6x5.9%NOK 4.5b

Price-To-Earnings vs Peers: 0REH is good value based on its Price-To-Earnings Ratio (7.6x) compared to the peer average (19.3x).

Price to Earnings Ratio vs Industry

How does 0REH'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
1xn/aUS$20.07m
No more companies available in this PE range
0REH 7.6xIndustry Avg. 8.6xNo. of Companies5PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0REH is good value based on its Price-To-Earnings Ratio (7.6x) compared to the UK Oil and Gas industry average (8.6x).

Price to Earnings Ratio vs Fair Ratio

What is 0REH'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.

0REH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio7.6x
Fair PE Ratio14.4x

Price-To-Earnings vs Fair Ratio: 0REH is good value based on its Price-To-Earnings Ratio (7.6x) compared to the estimated Fair Price-To-Earnings Ratio (14.4x).

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 0REH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 113.30
NOK 333.05
+194.0%
12.5%NOK 412.89NOK 290.14n/a6
Nov ’25NOK 210.00
NOK 335.46
+59.7%
10.9%NOK 406.79NOK 291.35n/a6
Oct ’25NOK 244.00
NOK 340.52
+39.6%
8.0%NOK 392.33NOK 318.11n/a5
Sep ’25NOK 260.65
NOK 342.86
+31.5%
7.5%NOK 392.44NOK 318.20n/a5
Aug ’25NOK 270.70
NOK 358.10
+32.3%
7.3%NOK 407.77NOK 330.63n/a5
Jul ’25NOK 267.10
NOK 334.71
+25.3%
3.5%NOK 346.32NOK 314.84n/a5
Jun ’25NOK 304.50
NOK 334.71
+9.9%
3.5%NOK 346.32NOK 314.84n/a5
May ’25NOK 267.10
NOK 327.67
+22.7%
8.4%NOK 366.56NOK 288.81n/a7
Apr ’25NOK 246.40
NOK 298.36
+21.1%
10.6%NOK 341.36NOK 237.88n/a7
Mar ’25NOK 242.02
NOK 283.34
+17.1%
12.3%NOK 336.65NOK 234.61n/a7
Feb ’25NOK 242.11
NOK 280.41
+15.8%
11.9%NOK 336.52NOK 231.36n/a7
Jan ’25NOK 203.67
NOK 256.13
+25.8%
18.6%NOK 341.40NOK 181.37n/a7
Dec ’24NOK 216.84
NOK 251.11
+15.8%
19.4%NOK 341.40NOK 181.37n/a7
Nov ’24NOK 250.04
NOK 238.09
-4.8%
9.9%NOK 268.08NOK 189.89NOK 210.007
Oct ’24NOK 197.00
NOK 217.19
+10.3%
12.0%NOK 250.88NOK 182.26NOK 244.007
Sep ’24NOK 187.84
NOK 217.70
+15.9%
11.8%NOK 250.05NOK 181.66NOK 260.657
Aug ’24NOK 171.41
NOK 209.24
+22.1%
12.3%NOK 237.59NOK 183.59NOK 270.704
Jul ’24NOK 154.95
NOK 209.24
+35.0%
12.3%NOK 237.59NOK 183.59NOK 267.104
Jun ’24NOK 170.60
NOK 195.70
+14.7%
19.6%NOK 244.28NOK 138.80NOK 304.504
May ’24NOK 161.88
NOK 199.43
+23.2%
21.4%NOK 239.84NOK 130.35NOK 267.104
Apr ’24NOK 171.22
NOK 199.43
+16.5%
21.4%NOK 239.84NOK 130.35NOK 246.404
Mar ’24NOK 197.24
NOK 192.10
-2.6%
23.0%NOK 238.82NOK 129.80NOK 242.024
Feb ’24NOK 140.64
NOK 168.05
+19.5%
19.8%NOK 217.48NOK 123.57NOK 242.114
Jan ’24n/a
NOK 155.26
0%
15.2%NOK 185.82NOK 122.25NOK 203.674
Dec ’23n/a
NOK 153.99
0%
12.0%NOK 170.26NOK 125.19NOK 216.844
Nov ’23n/a
NOK 155.05
0%
11.1%NOK 174.28NOK 128.14NOK 250.044

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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