Wilh. Wilhelmsen Holding Valuation

Q: What is the Fair Price of 0P0T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

0P0T (NOK445.5) is trading below our estimate of [[fair value]] (NOK1569.15)

Is 0P0T 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 0P0T when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 0P0T (NOK445.5) is trading below our estimate of fair value (NOK1569.15)

Significantly Below Fair Value: 0P0T is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 0P0T?

Key metric: As 0P0T is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 0P0T. This is calculated by dividing 0P0T's market cap by their current earnings.
What is 0P0T's PE Ratio?
PE Ratio	3.6x
Earnings	US$480.00m
Market Cap	US$1.69b

0P0T key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.9x
Enterprise Value/EBITDA	16.8x
PEG Ratio	-2.3x

Price to Earnings Ratio vs Peers

How does 0P0T's PE Ratio compare to its peers?

The above table shows the PE ratio for 0P0T vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	11.3x
CKN Clarkson	14.7x	2.5%	UK£1.2b
ICGC Irish Continental Group	14.4x	n/a	UK£748.8m
FGP FirstGroup	9.4x	9.9%	UK£892.5m
ZIG Zigup	6.6x	-5.7%	UK£822.8m
0P0T Wilh. Wilhelmsen Holding	3.6x	-1.5%	NOK 18.7b

Price-To-Earnings vs Peers: 0P0T is good value based on its Price-To-Earnings Ratio (3.6x) compared to the peer average (11.3x).

Price to Earnings Ratio vs Industry

How does 0P0T's PE Ratio compare vs other companies in the European Shipping Industry?

2 Companies	Price / Earnings	Estimated Growth	Market Cap

2 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: 0P0T is good value based on its Price-To-Earnings Ratio (3.6x) compared to the European Shipping industry average (7.7x).

Price to Earnings Ratio vs Fair Ratio

What is 0P0T'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.

0P0T PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	3.6x
Fair PE Ratio	9.4x

Price-To-Earnings vs Fair Ratio: 0P0T is good value based on its Price-To-Earnings Ratio (3.6x) compared to the estimated Fair Price-To-Earnings Ratio (9.4x).

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 0P0T forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 445.50	NOK 747.24 +67.7%	12.9%	NOK 843.74	NOK 650.73	n/a	2
Nov ’25	NOK 406.00	NOK 744.91 +83.5%	12.8%	NOK 840.58	NOK 649.25	n/a	2
Oct ’25	NOK 458.50	NOK 639.96 +39.6%	3.2%	NOK 660.29	NOK 619.64	n/a	2
Sep ’25	NOK 415.00	NOK 639.96 +54.2%	3.2%	NOK 660.29	NOK 619.64	n/a	2
Aug ’25	NOK 386.50	NOK 621.13 +60.7%	7.1%	NOK 664.96	NOK 577.31	n/a	2
Jul ’25	NOK 388.50	NOK 621.13 +59.9%	7.1%	NOK 664.96	NOK 577.31	n/a	2
Jun ’25	NOK 390.00	NOK 537.15 +37.7%	7.0%	NOK 574.95	NOK 499.36	n/a	2
May ’25	NOK 386.00	NOK 526.52 +36.4%	5.2%	NOK 554.14	NOK 498.90	n/a	2
Apr ’25	NOK 349.00	NOK 526.52 +50.9%	5.2%	NOK 554.14	NOK 498.90	n/a	2
Mar ’25	NOK 371.42	NOK 526.52 +41.8%	5.2%	NOK 554.14	NOK 498.90	n/a	2
Dec ’24	NOK 335.97	NOK 467.58 +39.2%	13.2%	NOK 529.49	NOK 405.68	n/a	2
Nov ’24	NOK 322.00	NOK 427.56 +32.8%	9.1%	NOK 466.51	NOK 388.60	NOK 406.00	2
Oct ’24	NOK 311.50	NOK 427.56 +37.3%	9.1%	NOK 466.51	NOK 388.60	NOK 458.50	2
Sep ’24	NOK 298.74	NOK 427.56 +43.1%	9.1%	NOK 466.51	NOK 388.60	NOK 415.00	2
Aug ’24	NOK 274.03	NOK 418.99 +52.9%	8.3%	NOK 453.90	NOK 384.08	NOK 386.50	2
Jul ’24	n/a	NOK 418.99 0%	8.3%	NOK 453.90	NOK 384.08	NOK 388.50	2
Jun ’24	NOK 261.50	NOK 418.99 +60.2%	8.3%	NOK 453.90	NOK 384.08	NOK 390.00	2
May ’24	NOK 278.49	NOK 428.95 +54.0%	6.2%	NOK 455.55	NOK 402.34	NOK 386.00	2
Apr ’24	NOK 262.03	NOK 428.95 +63.7%	6.2%	NOK 455.55	NOK 402.34	NOK 349.00	2
Mar ’24	NOK 288.00	NOK 427.54 +48.5%	6.6%	NOK 455.84	NOK 399.24	NOK 371.42	2
Feb ’24	NOK 278.39	NOK 424.65 +52.5%	8.3%	NOK 459.85	NOK 389.44	NOK 365.05	2
Jan ’24	n/a	NOK 424.65 0%	8.3%	NOK 459.85	NOK 389.44	NOK 364.53	2
Dec ’23	n/a	NOK 424.65 0%	8.3%	NOK 459.85	NOK 389.44	NOK 335.97	2

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.