BW Offshore Limited

LSE:0RKH Stock Report

Market Cap: NOK 5.2b

BW Offshore Valuation

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

Below Fair Value: 0RKH (NOK28.55) is trading below our estimate of fair value (NOK326.09)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for 0RKH. This is calculated by dividing 0RKH's market cap by their current earnings.
What is 0RKH's PE Ratio?
PE Ratio3.9x
EarningsUS$119.80m
Market CapUS$467.67m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for 0RKH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.4x
HTG Hunting
4.5x-7.9%UK£482.4m
GMS Gulf Marine Services
5.6xn/aUK£179.8m
TLW Tullow Oil
25.9x18.8%UK£336.3m
DEC Diversified Energy
5.7x1.1%UK£652.0m
0RKH BW Offshore
3.9x-36.1%NOK 5.2b

Price-To-Earnings vs Peers: 0RKH is good value based on its Price-To-Earnings Ratio (3.9x) compared to the peer average (10.4x).

Price to Earnings Ratio vs Industry

How does 0RKH's PE Ratio compare vs other companies in the European Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
0RKH 3.9xIndustry Avg. 9.4xNo. of Companies7PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 0RKH is good value based on its Price-To-Earnings Ratio (3.9x) compared to the European Energy Services industry average (9.4x).

Price to Earnings Ratio vs Fair Ratio

What is 0RKH'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.

0RKH PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.9x
Fair PE Ratio5.6x

Price-To-Earnings vs Fair Ratio: 0RKH is good value based on its Price-To-Earnings Ratio (3.9x) compared to the estimated Fair Price-To-Earnings Ratio (5.6x).

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 0RKH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 28.55
NOK 37.66
+31.9%
20.1%NOK 44.09NOK 27.05n/a3
Nov ’25NOK 30.72
NOK 39.80
+29.6%
9.8%NOK 44.07NOK 34.68n/a3
Oct ’25NOK 28.48
NOK 39.27
+37.9%
10.1%NOK 43.72NOK 34.11n/a3
Sep ’25NOK 29.58
NOK 39.27
+32.8%
10.1%NOK 43.72NOK 34.11n/a3
Aug ’25NOK 30.18
NOK 39.58
+31.2%
10.1%NOK 43.90NOK 34.25n/a3
Jul ’25NOK 31.05
NOK 39.58
+27.5%
10.1%NOK 43.90NOK 34.25n/a3
Jun ’25NOK 30.30
NOK 39.59
+30.7%
11.7%NOK 45.03NOK 33.75n/a3
May ’25NOK 28.15
NOK 43.49
+54.5%
8.2%NOK 47.06NOK 39.92n/a2
Apr ’25NOK 27.06
NOK 44.26
+63.6%
3.9%NOK 45.97NOK 42.55n/a2
Mar ’25NOK 26.48
NOK 37.83
+42.9%
9.5%NOK 41.19NOK 32.85n/a3
Feb ’25NOK 24.10
NOK 37.83
+57.0%
9.5%NOK 41.19NOK 32.85n/a3
Jan ’25NOK 22.42
NOK 36.75
+63.9%
8.3%NOK 40.11NOK 31.99n/a4
Dec ’24NOK 22.66
NOK 38.80
+71.2%
7.0%NOK 41.16NOK 34.28n/a4
Nov ’24NOK 23.45
NOK 38.63
+64.7%
7.8%NOK 42.01NOK 33.82NOK 30.724
Oct ’24NOK 24.60
NOK 38.63
+57.0%
7.8%NOK 42.01NOK 33.82NOK 28.484
Sep ’24NOK 25.12
NOK 39.66
+57.9%
12.4%NOK 47.22NOK 33.50NOK 29.584
Aug ’24NOK 28.50
NOK 41.37
+45.2%
7.8%NOK 45.55NOK 36.85NOK 30.184
Jul ’24NOK 25.80
NOK 42.93
+66.4%
6.6%NOK 45.89NOK 39.02NOK 31.054
Jun ’24NOK 25.70
NOK 44.93
+74.8%
4.4%NOK 46.61NOK 42.13NOK 30.303
May ’24NOK 28.36
NOK 43.50
+53.4%
5.4%NOK 45.77NOK 40.23NOK 28.153
Apr ’24NOK 30.02
NOK 42.47
+41.5%
5.9%NOK 45.56NOK 39.98NOK 27.064
Mar ’24NOK 28.82
NOK 40.46
+40.4%
6.0%NOK 44.31NOK 37.67NOK 26.484
Feb ’24NOK 27.21
NOK 40.46
+48.7%
6.0%NOK 44.31NOK 37.67NOK 24.104
Jan ’24NOK 24.86
NOK 40.46
+62.7%
6.0%NOK 44.31NOK 37.67NOK 22.424
Dec ’23NOK 25.24
NOK 43.16
+71.0%
9.5%NOK 48.90NOK 38.13NOK 22.664
Nov ’23NOK 27.06
NOK 44.10
+63.0%
7.5%NOK 49.71NOK 41.42NOK 23.454

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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