Protector Forsikring ASA

BATS-CHIXE:PROTO Stock Report

Market Cap: NOK 23.5b

Protector Forsikring Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Below Fair Value: PROTO (NOK285.25) is trading below our estimate of fair value (NOK793.17)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PROTO. This is calculated by dividing PROTO's market cap by their current earnings.
What is PROTO's PE Ratio?
PE Ratio12.1x
EarningsNOK 1.95b
Market CapNOK 23.49b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PROTO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.2x
AV. Aviva
9.9x5.0%UK£12.6b
HUW Helios Underwriting
10.8x16.9%UK£191.2m
LRE Lancashire Holdings
5.4x-7.4%UK£1.6b
JUST Just Group
18.9x8.9%UK£1.7b
PROTO Protector Forsikring
12.1x-2.1%NOK 23.5b

Price-To-Earnings vs Peers: PROTO is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the peer average (11.3x).

Price to Earnings Ratio vs Industry

How does PROTO's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
No. of Companies13PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PROTO is expensive based on its Price-To-Earnings Ratio (12.1x) compared to the European Insurance industry average (11.9x).

Price to Earnings Ratio vs Fair Ratio

What is PROTO'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.

PROTO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio12.1x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate PROTO'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 PROTO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 285.25
NOK 306.67
+7.5%
13.7%NOK 350.00NOK 250.00n/a3
Dec ’25n/a
NOK 306.67
0%
13.7%NOK 350.00NOK 250.00n/a3
Nov ’25n/a
NOK 306.67
0%
13.7%NOK 350.00NOK 250.00n/a3
Oct ’25n/a
NOK 270.00
0%
6.0%NOK 290.00NOK 250.00n/a3
Sep ’25n/a
NOK 270.00
0%
6.0%NOK 290.00NOK 250.00n/a3
Aug ’25n/a
NOK 270.00
0%
6.0%NOK 290.00NOK 250.00n/a3
Jul ’25n/a
NOK 261.33
0%
4.0%NOK 275.00NOK 250.00n/a3
Jun ’25n/a
NOK 259.67
0%
3.1%NOK 270.00NOK 250.00n/a3
May ’25n/a
NOK 259.67
0%
3.1%NOK 270.00NOK 250.00n/a3
Apr ’25n/a
NOK 251.67
0%
3.8%NOK 264.00NOK 241.00n/a3
Mar ’25n/a
NOK 251.67
0%
3.8%NOK 264.00NOK 241.00n/a3
Feb ’25n/a
NOK 240.00
0%
10.3%NOK 264.00NOK 206.00n/a3
Jan ’25n/a
NOK 206.33
0%
2.6%NOK 213.00NOK 200.00NOK 285.253
Dec ’24n/a
NOK 206.33
0%
2.6%NOK 213.00NOK 200.00n/a3
Nov ’24NOK 173.70
NOK 206.33
+18.8%
2.6%NOK 213.00NOK 200.00n/a3
Oct ’24n/a
NOK 202.00
0%
4.1%NOK 213.00NOK 193.00n/a3
Sep ’24NOK 177.50
NOK 202.00
+13.8%
4.1%NOK 213.00NOK 193.00n/a3
Aug ’24NOK 162.50
NOK 202.00
+24.3%
4.1%NOK 213.00NOK 193.00n/a3
Jul ’24NOK 157.00
NOK 199.33
+27.0%
5.7%NOK 213.00NOK 185.00n/a3
Jun ’24n/a
NOK 196.67
0%
4.3%NOK 205.00NOK 185.00n/a3
May ’24n/a
NOK 185.33
0%
7.5%NOK 205.00NOK 175.00n/a3
Apr ’24n/a
NOK 181.67
0%
3.4%NOK 190.00NOK 175.00n/a3
Mar ’24NOK 147.20
NOK 177.50
+20.6%
1.4%NOK 180.00NOK 175.00n/a2
Jan ’24n/a
NOK 156.00
0%
3.8%NOK 162.00NOK 150.00n/a2

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 05:58
End of Day Share Price 2024/12/27 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

Protector Forsikring ASA is covered by 5 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gianandrea RobertiCarnegie Investment Bank AB
Håkon AstrupDNB Markets
Kimmo RämäHandelsbanken Capital Markets