LSE:0JXF

Stock Analysis Report

Executive Summary

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.


Snowflake Analysis

Reasonable growth potential and fair value.

Share Price & News

How has Protector Forsikring's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: 0JXF's share price has been volatile over the past 3 months.


Market Performance


7 Day Return

-2.3%

0JXF

10.8%

GB Insurance

3.9%

GB Market


1 Year Return

-57.1%

0JXF

-29.3%

GB Insurance

-22.4%

GB Market

Return vs Industry: 0JXF underperformed the UK Insurance industry which returned -26.5% over the past year.

Return vs Market: 0JXF underperformed the UK Market which returned -22.7% over the past year.


Shareholder returns

0JXFIndustryMarket
7 Day-2.3%10.8%3.9%
30 Day-29.4%-17.6%-16.1%
90 Day-55.3%-27.5%-26.1%
1 Year-57.1%-57.1%-21.4%-29.3%-18.2%-22.4%
3 Year-63.9%-65.2%-17.7%-32.3%-11.7%-23.1%
5 Year-60.6%-64.1%-9.6%-32.7%1.9%-21.5%

Price Volatility Vs. Market

How volatile is Protector Forsikring's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Protector Forsikring undervalued compared to its fair value and its price relative to the market?

>50%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: 0JXF (NOK22.13) is trading below our estimate of fair value (NOK61.7)

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


Price To Earnings Ratio

PE vs Industry: 0JXF is unprofitable, so we can't compare its PE Ratio to the Insurance industry average.

PE vs Market: 0JXF is unprofitable, so we can't compare its PE Ratio to the UK market.


Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate 0JXF's PEG Ratio to determine if it is good value.


Price to Book Ratio

PB vs Industry: 0JXF is good value based on its PB Ratio (0.9x) compared to the GB Insurance industry average (1.3x).


Next Steps

Future Growth

How is Protector Forsikring forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

55.3%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0JXF is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (0.5%).

Earnings vs Market: 0JXF is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: 0JXF's is expected to become profitable in the next 3 years.

Revenue vs Market: 0JXF's revenue (3.9% per year) is forecast to grow faster than the UK market (2.6% per year).

High Growth Revenue: 0JXF's revenue (3.9% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: 0JXF's Return on Equity is forecast to be low in 3 years time (18.1%).


Next Steps

Past Performance

How has Protector Forsikring performed over the past 5 years?

-38.5%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: 0JXF is currently unprofitable.

Growing Profit Margin: 0JXF is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: 0JXF is unprofitable, and losses have increased over the past 5 years at a rate of -38.5% per year.

Accelerating Growth: Unable to compare 0JXF's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: 0JXF is unprofitable, making it difficult to compare its past year earnings growth to the Insurance industry (4.5%).


Return on Equity

High ROE: 0JXF has a negative Return on Equity (-3.77%), as it is currently unprofitable.


Next Steps

Financial Health

How is Protector Forsikring's financial position? (This company is analysed differently as a bank or financial institution)


Financial Position Analysis


Debt to Equity History and Analysis


Balance Sheet

Inventory Level: 0JXF has a low level of unsold assets or inventory.

Debt Coverage by Assets: 0JXF's debt is covered by short term assets (assets are 11.8x debt).


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: 0JXF has been profitable on average in the past, therefore cash runway is not a concern.

Forecast Cash Runway: 0JXF has been profitable on average in the past, therefore cash runway is not a concern.


Financial Institutions Analysis

Asset Level: 0JXF's level of assets compared to its equity is low.

Allowance for Bad Loans: Insufficient data to determine if 0JXF has a sufficient allowance for bad loans.

Low Risk Liabilities: 0JXF reports no customer deposits, loans are made up entirely of externally borrowed funds.

Loan Level: Insufficient data to determine if 0JXF has an acceptable proportion of non-loan assets held.

Low Risk Deposits: 0JXF has advanced significantly more loans than the customer deposits it holds.

Level of Bad Loans: Insufficient data to determine if 0JXF has an appropriate level of bad loans.


Next Steps

Dividend

What is Protector Forsikring's current dividend yield, its reliability and sustainability?

3.50%

Forecast Dividend Yield


Dividend Yield vs Market

Notable Dividend: Unable to evaluate 0JXF's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.

High Dividend: Unable to evaluate 0JXF's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if 0JXF's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if 0JXF's dividend payments have been increasing.


Current Payout to Shareholders

Dividend Coverage: 0JXF is not paying a notable dividend for the UK market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of 0JXF's dividend in 3 years as they are not forecast to pay a notable one for the UK market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

3.5yrs

Average management tenure


CEO

Sverre Bjerkeli (59yo)

14.17s

Tenure

kr9,562,000

Compensation

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 Ement ...


CEO Compensation Analysis

Compensation vs Market: Sverre's total compensation ($USD906.23K) is about average for companies of similar size in the UK market ($USD761.42K).

Compensation vs Earnings: Sverre's compensation has been consistent with company performance over the past year.


Leadership Team

NamePositionTenureCompensationOwnership
Sverre Bjerkeli
Chief Executive Officer14.17yrskr9.56m3.9% NOK75.8m
Ditlev de Vibe Vanay
Chief Financial Officer1.17yrskr3.43m0.33% NOK6.4m
Dag Nereng
Chief Investment Officer - Equitiesno datakr3.61m0.13% NOK2.5m
Leonard Bijl
IT Directorno datakr2.71m0.0086% NOK166.5k
Trond Høye
Chief Technology Officer and Insurance Directorno datakr2.33mno data
Erik Sand
Director of Business Development3.5yrsno datano data
Anders Palm
Executive Assistant & IRno datano data0.013% NOK255.5k

3.5yrs

Average Tenure

52yo

Average Age

Experienced Management: 0JXF's management team is considered experienced (3.5 years average tenure).


Board Members

NamePositionTenureCompensationOwnership
Else Fougner
Independent Director9.17yrskr337.00kno data
Randi Røed
Independent Director6.17yrskr447.00kno data
Jostein Sørvoll
Independent Chairman of the Boardno datakr735.00kno data
Anders Lenborg
Independent Deputy Chairmanno datakr90.00k0.00021% NOK4.1k
Alexander Amsrud
Deputy for Employees Representativeno datano datano data
Jørgen Stenshagen
Independent Director6.17yrskr437.00kno data
Line Engelmann-Kokkim
Employees Representative Director2yrskr112.00k0.00086% NOK16.7k
Mathews Ambalathil
Employees Representative Director2.17yrskr150.00k0.0016% NOK30.7k
Adele Bugge Pran
Independent Director1.17yrsno datano data
Arna Vikanes Murray
Deputy for Employees Representativeno datakr25.00k0.0014% NOK26.3k

4.2yrs

Average Tenure

53yo

Average Age

Experienced Board: 0JXF's board of directors are considered experienced (4.2 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: 0JXF insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Protector Forsikring ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Protector Forsikring ASA
  • Ticker: 0JXF
  • Exchange: LSE
  • Founded: 2003
  • Industry: Multi-line Insurance
  • Sector: Insurance
  • Market Cap: kr1.945b
  • Shares outstanding: 81.78m
  • Website: https://www.protectorforsikring.no

Number of Employees


Location

  • Protector Forsikring ASA
  • Støperigata 2
  • Oslo
  • Oslo
  • 113
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
PROTCTOB (Oslo Bors)YesA SharesNONOKJul 2006
0JXFLSE (London Stock Exchange)YesA SharesGBNOKJul 2006
PROTCoBATS-CHIXE (BATS 'Chi-X Europe')YesA SharesGBNOKJul 2006
PSKR.FOTCPK (Pink Sheets LLC)YesA SharesUSUSDJul 2006
PR4DB (Deutsche Boerse AG)YesA SharesDEEURJul 2006

Biography

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. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/04/01 00:12
End of Day Share Price2020/03/31 00:00
Earnings2019/12/31
Annual Earnings2019/12/31


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.