Protector Forsikring ASA, a general insurance company, provides various insurance products to the commercial and public sectors, and the affinity insurance markets in Norway, Sweden, Denmark, the United Kingdom, and Finland.
The last earnings update was 46 days ago.
Discounted Cash Flow Calculation for LSE:0JXF using Excess Returns Model Model
The calculations below outline how an intrinsic value for Protector Forsikring is arrived at using the Excess Return Model. This approach is used for finance firms where free cash flow is difficult to estimate.
In the Excess Return Model the value of a firm can be written as the sum of capital invested currently in the firm and the present value of excess returns that the firm expects to make in the future.
The model is sensitive to the Return on Equity of the company versus the Cost of Equity, how these are calculated is detailed below the main calculation.
Amount off the current price
is available for.
Share price is
vs Future cash flow value of
Current Discount Checks
to be considered undervalued it must be available for at least 20% below the
current price. Less than 40% is even better.
Protector Forsikring's share price is below the future cash flow value, and at a moderate discount (> 20%).
Protector Forsikring's share price is below the future cash flow value, but not at a substantial discount (< 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for
it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing
when they are out of season, or how much your home is worth.
The amount the stock market is willing to pay for
is considered below, and whether this is a fair price.
Price based on past earnings
Protector Forsikring's earnings available for a low price, and how does
this compare to other companies in the same industry?
Protector Forsikring's earnings are expected to grow significantly at over 20% yearly.
Protector Forsikring's revenue is expected to grow by 13.4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can
be gauged below. We look back 3 years and see if they were any good at
predicting what actually occurred. We also show the highest and lowest estimates
looking forward to see if there is a wide range.
Protector Forsikring's performance over the past 5 years by checking for:
Has earnings increased in past 5 years? (1 check)
Has the earnings growth in the last year exceeded that of the
industry? (1 check)
Is the recent earnings growth over the last year higher than the average annual growth over the
past 5 years? (1 check)
Is the Return on Equity (ROE) higher than 20%? (1 check)
Is the Return on Assets (ROA) above industry average? (1 check)
Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent
earnings report. Some checks require at least 3 or 5 years worth of data.
has a total score of
0/6, see the detailed checks below.
Note: We use GAAP Net Income excluding extraordinary items in all our calculations.
A company's financial position is much like your own financial position,
it includes everything you own
The boxes below represent the relative size of what makes up
Protector Forsikring's finances.
The net worth of a company is the difference between its assets and liabilities.
Protector Forsikring is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
Protector Forsikring's cash and other short term assets cover its long term commitments.
This treemap shows a more detailed breakdown of
Protector Forsikring's finances. If any of them are yellow this
indicates they may be out of proportion and red means they relate to one of the
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
Low level of unsold assets.
Debt is covered by short term assets, assets are 10.3x debt.
Nearly all companies have debt. Debt in itself isn’t
however if the debt is too high, or the company can’t afford to pay the interest
on its debts this may have impacts in the future.
The graphic below shows equity (available funds) and debt, we ideally want to
see the red area (debt) decreasing.
If there is any debt we look at the companies capability to repay it, and
whether the level has increased over the past 5 years.
Management is one of the most important areas of a company. We look at
unreasonable CEO compensation, how long the team and board of directors have
been around for and insider trading.
TENURE AS CEO
Mr. Sverre Bjerkeli has been the Chief Executive Officer of Protector Forsikring ASA since 2006. Mr. Bjerkeli joined Protector since 2004. He served position as Chief Executive Officer in Torrino and Ementor Norge. He has 15 years of experience from the finance and insurance industry. Mr. Bjerkeli served as an Executive Manager of Storebrand, Bank, he was centrally responsible for establishing it. Mr. Bjerkeli served as a Director of Private and small business in Storebrand/If. He attended BI Norwegian Business School (1981 – 1984).
Sverre's compensation has increased whilst company is loss making.
Sverre's remuneration is about average for companies of similar size in United Kingdom of Great Britain and Northern Ireland.
Chief Executive Officer
Ditlev de Vibe Vanay
Chief Financial Officer
Chief Investment Officer - Equities
Chief Technology Officer and Insurance Director
Director of Business Development
Board of Directors Tenure
Average tenure and age of the
board of directors in years:
The tenure for the Protector Forsikring board of directors is about average.
Board of Directors
Chairman of the Board
Deputy Chairman of the Board
Adele Bugge Pran
Deputy Board member
Who owns this company?
Recent Insider Trading
More shares have been bought than sold by Protector Forsikring insiders in the past 3 months.
Protector Forsikring ASA, a general insurance company, provides various insurance products to the commercial and public sectors, and the affinity insurance markets in Norway, Sweden, Denmark, the United Kingdom, and Finland. It also offers change of ownership insurance. The company sells its products to non-marine industries through insurance brokers, and real estate agents and lawyers. Protector Forsikring ASA was founded in 2003 and is based in Oslo, Norway.
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