Integrated Wind Solutions ASA

OB:IWST Stock Report

Market Cap: NOK 1.6b

Integrated Wind Solutions Valuation

Is IWST 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Discounted Cash Flow
Simply Wall St
NOK 199.71
Fair Value
79.1% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: IWST (NOK41.8) is trading below our estimate of fair value (NOK199.71)

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

Key Valuation Metric

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

Key metric: As IWST is barely profitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for IWST. This is calculated by dividing IWST's market cap by their current revenue.
What is IWST's PS Ratio?
PS Ratio3.4x
Sales€40.70m
Market Cap€139.46m

Price to Sales Ratio vs Peers

How does IWST's PS Ratio compare to its peers?

The above table shows the PS ratio for IWST vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.1x
NRC NRC Group
0.1x3.7%NOK 742.2m
ARGEO Argeo
1x19.0%NOK 569.4m
NORCO Norconsult
1.2x4.4%NOK 12.6b
CADLR Cadeler
10x51.6%NOK 21.1b
IWST Integrated Wind Solutions
3.4x32.2%NOK 1.6b

Price-To-Sales vs Peers: IWST is expensive based on its Price-To-Sales Ratio (3.4x) compared to the peer average (3.1x).

Price to Sales Ratio vs Industry

How does IWST's PS Ratio compare vs other companies in the European Construction Industry?

21 CompaniesPrice / SalesEstimated GrowthMarket Cap
IWST 3.4xIndustry Avg. 0.5xNo. of Companies43PS00.61.21.82.43+
21 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: IWST is expensive based on its Price-To-Sales Ratio (3.4x) compared to the European Construction industry average (0.5x).

Price to Sales Ratio vs Fair Ratio

What is IWST's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

IWST PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3.4x
Fair PS Ratio1.7x

Price-To-Sales vs Fair Ratio: IWST is expensive based on its Price-To-Sales Ratio (3.4x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).

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 IWST forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 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 40.00n/a2
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 51.50
Fair Value
18.8% 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.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/01 16:36
End of Day Share Price 2025/01/31 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

Integrated Wind Solutions ASA is covered by 3 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
Jørgen TorstensenFearnley Securities
Magnus AndersenFearnley Securities
Jorgen OpheimPareto Securities