Norconsult Valuation
Is NORCO undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
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 NORCO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: NORCO (NOK42.9) is trading below our estimate of fair value (NOK65.27)
Significantly Below Fair Value: NORCO is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for NORCO?
Key metric: As NORCO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is NORCO's PE Ratio? | |
|---|---|
| PE Ratio | 33.7x |
| Earnings | NOK 367.00m |
| Market Cap | NOK 12.16b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 1.3x |
| Enterprise Value/EBITDA | 22.6x |
| PEG Ratio | 1.1x |
Price to Earnings Ratio vs Peers
How does NORCO's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 22.4x | ||
AFG AF Gruppen | 32.2x | 25.8% | NOK 16.3b |
VEI Veidekke | 14.6x | 4.9% | NOK 19.1b |
BONHR Bonheur | 9.5x | -14.4% | NOK 11.1b |
AFK Arendals Fossekompani | 33.5x | -50.7% | NOK 8.1b |
NORCO Norconsult | 33.7x | 30.1% | NOK 12.4b |
Price-To-Earnings vs Peers: NORCO is expensive based on its Price-To-Earnings Ratio (33.7x) compared to the peer average (22.4x).
Price to Earnings Ratio vs Industry
How does NORCO's PE Ratio compare vs other companies in the European Construction Industry?
| 2 Companies | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 2 Companies | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: NORCO is expensive based on its Price-To-Earnings Ratio (33.7x) compared to the European Construction industry average (13.4x).
Price to Earnings Ratio vs Fair Ratio
What is NORCO'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 33.7x |
| Fair PE Ratio | 27.6x |
Price-To-Earnings vs Fair Ratio: NORCO is expensive based on its Price-To-Earnings Ratio (33.7x) compared to the estimated Fair Price-To-Earnings Ratio (27.7x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 42.90 | NOK 43.83 +2.2% | 1.9% | NOK 45.00 | NOK 43.00 | n/a | 3 |
| Dec ’25 | NOK 41.45 | NOK 43.83 +5.7% | 1.9% | NOK 45.00 | NOK 43.00 | n/a | 3 |
| Nov ’25 | NOK 38.30 | NOK 41.33 +7.9% | 4.1% | NOK 43.00 | NOK 39.00 | n/a | 3 |
| Sep ’25 | NOK 35.35 | NOK 38.83 +9.9% | 0.6% | NOK 39.00 | NOK 38.50 | n/a | 3 |
| Aug ’25 | NOK 32.40 | NOK 36.83 +13.7% | 3.9% | NOK 38.50 | NOK 35.00 | n/a | 3 |
| Jul ’25 | NOK 34.65 | NOK 34.00 -1.9% | 2.4% | NOK 35.00 | NOK 33.00 | n/a | 3 |
| Jun ’25 | NOK 32.40 | NOK 33.67 +3.9% | 3.7% | NOK 35.00 | NOK 32.00 | n/a | 3 |
| May ’25 | NOK 28.05 | NOK 32.83 +17.1% | 4.7% | NOK 35.00 | NOK 31.50 | n/a | 3 |
| Apr ’25 | NOK 27.09 | NOK 32.83 +21.2% | 4.7% | NOK 35.00 | NOK 31.50 | n/a | 3 |
| Mar ’25 | NOK 27.76 | NOK 32.17 +15.9% | 6.5% | NOK 35.00 | NOK 30.00 | n/a | 3 |
| Feb ’25 | NOK 25.60 | NOK 29.33 +14.6% | 3.2% | NOK 30.00 | NOK 28.00 | n/a | 3 |
| Jan ’25 | NOK 24.40 | NOK 29.00 +18.9% | 3.4% | NOK 30.00 | NOK 28.00 | n/a | 2 |
Analyst Forecast: Target price is less than 20% higher than the current share price.