Integrated Wind Solutions ASA

OB:IWS Stock Report

Market Cap: NOK 1.6b

Integrated Wind Solutions Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Discounted Cash Flow
Simply Wall St
NOK 153.42
Fair Value
73.4% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: IWS (NOK40.75) is trading below our estimate of fair value (NOK153.42)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for IWS. This is calculated by dividing IWS's market cap by their current earnings.
What is IWS's PE Ratio?
PE Ratio33.3x
Earnings€4.29m
Market Cap€142.77m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for IWS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average61.6x
MULTI Multiconsult
12.3x0.8%NOK 5.1b
CADLR Cadeler
185.6x70.7%NOK 19.3b
NORCO Norconsult
26.6x15.1%NOK 13.2b
AFG AF Gruppen
22x14.2%NOK 15.5b
IWS Integrated Wind Solutions
33.3x46.6%NOK 1.6b

Price-To-Earnings vs Peers: IWS is good value based on its Price-To-Earnings Ratio (33.3x) compared to the peer average (61.6x).

Price to Earnings Ratio vs Industry

How does IWS's PE Ratio compare vs other companies in the European Construction Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
IWS 33.3xIndustry Avg. 13.2xNo. of Companies20PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: IWS is expensive based on its Price-To-Earnings Ratio (33.3x) compared to the European Construction industry average (13.2x).

Price to Earnings Ratio vs Fair Ratio

What is IWS'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.

IWS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio33.3x
Fair PE Ratio37.4x

Price-To-Earnings vs Fair Ratio: IWS is good value based on its Price-To-Earnings Ratio (33.3x) compared to the estimated Fair Price-To-Earnings Ratio (37.4x).

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 IWS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 40.75
NOK 51.00
+25.2%
21.6%NOK 62.00NOK 40.00n/a2
Mar ’26NOK 41.90
NOK 51.00
+21.7%
21.6%NOK 62.00NOK 40.00n/a2
Feb ’26NOK 41.80
NOK 51.50
+23.2%
22.3%NOK 63.00NOK 40.00n/a2
Jan ’26NOK 47.80
NOK 51.50
+7.7%
22.3%NOK 63.00NOK 40.00n/a2
Dec ’25NOK 48.80
NOK 51.50
+5.5%
22.3%NOK 63.00NOK 40.00n/a2
Jun ’25NOK 50.00
NOK 47.50
-5.0%
15.8%NOK 55.00NOK 40.00n/a2
May ’25NOK 46.80
NOK 47.50
+1.5%
15.8%NOK 55.00NOK 40.00n/a2
Apr ’25NOK 46.80
NOK 47.50
+1.5%
15.8%NOK 55.00NOK 40.00n/a2
Mar ’25NOK 44.40
NOK 47.50
+7.0%
15.8%NOK 55.00NOK 40.00NOK 41.902
Feb ’25NOK 43.00
NOK 47.50
+10.5%
15.8%NOK 55.00NOK 40.00NOK 41.802
Jan ’25NOK 43.20
NOK 47.50
+10.0%
15.8%NOK 55.00NOK 40.00NOK 47.802
Dec ’24NOK 44.60
NOK 47.50
+6.5%
15.8%NOK 55.00NOK 40.00NOK 48.802
Nov ’24NOK 40.00
NOK 47.50
+18.8%
15.8%NOK 55.00NOK 40.00NOK 50.502
Oct ’24NOK 36.40
NOK 47.50
+30.5%
15.8%NOK 55.00NOK 40.00NOK 51.502
Sep ’24NOK 37.80
NOK 47.50
+25.7%
15.8%NOK 55.00NOK 40.00NOK 53.502
Jun ’24NOK 38.60
NOK 48.00
+24.4%
16.7%NOK 56.00NOK 40.00NOK 50.002
May ’24NOK 38.00
NOK 48.00
+26.3%
16.7%NOK 56.00NOK 40.00NOK 46.802
Apr ’24NOK 33.00
NOK 48.50
+47.0%
17.5%NOK 57.00NOK 40.00NOK 46.802
Mar ’24NOK 31.40
NOK 48.50
+54.5%
17.5%NOK 57.00NOK 40.00NOK 44.402
Analyst Price Target
Consensus Narrative from 2 Analysts
NOK 51.00
Fair Value
20.1% undervalued intrinsic discount
2
Number of Analysts

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/03/24 04:19
End of Day Share Price 2025/03/21 00:00
Earnings2024/12/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Integrated Wind Solutions ASA is covered by 4 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Jørgen TorstensenFearnley Securities
Magnus AndersenFearnley Securities