Havila Kystruten Valuation

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

Below Fair Value: HKY (NOK0.48) is trading below our estimate of fair value (NOK4.75)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for HKY. This is calculated by dividing HKY's market cap by their current preferred multiple.
What is HKY's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	n/a

HKY 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	3.8x
Enterprise Value/EBITDA	-76.5x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for HKY vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	16.6x
BSP Black Sea Property	61.5x	n/a	NOK 57.8m
LUMI Lumi Gruppen	1.4x	5.2%	NOK 572.6m
G2MNO Gentoo Media	2.8x	17.8%	NOK 3.3b
SATS Sats	1x	4.7%	NOK 4.8b
HKY Havila Kystruten	0.4x	11.5%	NOK 445.1m

Price-To-Sales vs Peers: HKY is good value based on its Price-To-Sales Ratio (0.4x) compared to the peer average (16.6x).

Price to Earnings Ratio vs Industry

How does HKY's PE Ratio compare vs other companies in the European Hospitality Industry?

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	23.8%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	23.8%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: HKY is good value based on its Price-To-Sales Ratio (0.4x) compared to the European Hospitality industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is HKY'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.

HKY PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.4x
Fair PS Ratio	0.9x

Price-To-Sales vs Fair Ratio: HKY is good value based on its Price-To-Sales Ratio (0.4x) compared to the estimated Fair Price-To-Sales Ratio (0.9x).

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 HKY 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 0.48	NOK 1.80 +275.0%	44.4%	NOK 2.60	NOK 1.00	n/a	2
Nov ’25	NOK 0.63	NOK 1.80 +185.3%	44.4%	NOK 2.60	NOK 1.00	n/a	2
Oct ’25	NOK 0.71	NOK 1.90 +169.1%	36.8%	NOK 2.60	NOK 1.20	n/a	2
Sep ’25	NOK 0.85	NOK 1.90 +123.0%	36.8%	NOK 2.60	NOK 1.20	n/a	2
Aug ’25	NOK 0.97	NOK 2.00 +106.6%	40.0%	NOK 2.80	NOK 1.20	n/a	2
Jul ’25	NOK 0.97	NOK 2.00 +106.4%	40.0%	NOK 2.80	NOK 1.20	n/a	2
Jun ’25	NOK 1.02	NOK 2.00 +96.1%	40.0%	NOK 2.80	NOK 1.20	n/a	2
May ’25	NOK 0.86	NOK 2.00 +132.6%	40.0%	NOK 2.80	NOK 1.20	n/a	2
Apr ’25	NOK 0.70	NOK 2.00 +187.4%	40.0%	NOK 2.80	NOK 1.20	n/a	2
Mar ’25	NOK 0.78	NOK 2.30 +194.1%	21.7%	NOK 2.80	NOK 1.80	n/a	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.