BlueNord Future Growth
Future criteria checks 3/6
BlueNord's revenue is forecast to decline at 0.7% per annum while its annual earnings are expected to grow at 17.8% per year. EPS is expected to grow by 18.5% per annum. Return on equity is forecast to be 38.6% in 3 years.
Key information
17.8%
Earnings growth rate
18.49%
EPS growth rate
| Oil and Gas earnings growth | 4.0% |
| Revenue growth rate | -0.7% |
| Future return on equity | 38.60% |
| Analyst coverage | Good |
| Last updated | 11 May 2026 |
Recent future growth updates
Recent updates
Narrative Update • Mar 13
BNOR: Dividend Proposal And Stable Output Will Shape Balanced Return Outlook
Analysts have nudged their BlueNord price target slightly higher to NOK 568.6 from NOK 567.6, reflecting small adjustments to fair value inputs, discount rate, revenue growth, profit margin, and expected future P/E assumptions. What's in the News BlueNord reported preliminary production of 43.6 mboepd for February 2026, with the Tyra hub contributing 23.7 mboepd and production described as stable through most of the month despite early weather related issues (Announcement of Operating Results).Narrative Update • Feb 26
BNOR: Higher Dividend Proposal Will Support Future Upside Potential
Analysts have raised their price target on BlueNord from NOK 550.20 to NOK 567.60, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News A special/extraordinary shareholders meeting is scheduled for 23 March 2026 at 11:00 W.Narrative Update • Feb 11
BNOR: Increasing Tyra Output And Recent Dividend Will Support Further Upside
Analysts have adjusted their BlueNord price target to NOK 550.20. The new view reflects slightly updated assumptions for discount rate, revenue growth, profit margin and future P/E, while keeping the fair value estimate unchanged in NOK terms.Narrative Update • Jan 28
BNOR: Extraordinary Dividend And Tyra Reliability Improvements Will Support Further Upside
Analysts have trimmed their fair value estimate for BlueNord from €566.20 to €550.20, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News December 2025 preliminary production was 47.4 mboepd net to BlueNord, with the Tyra hub averaging 25.1 mboepd, described as the highest monthly production since the restart, and work is ongoing to improve reliability and performance at Tyra (company announcement).Narrative Update • Jan 13
BNOR: Extraordinary Dividend And Rising Output Will Support Further Shareholder Upside
Narrative Update on BlueNord Analysts have kept their fair value estimate for BlueNord steady at €566.20 per share, with only small model tweaks to the discount rate, revenue growth, profit margin, and forward P/E assumptions behind the updated price target view. What's in the News December 2025 preliminary production was 47.4 mboepd net to BlueNord, with the Tyra hub averaging 25.1 mboepd, the highest monthly level since Tyra restarted, and work continuing to improve reliability and performance at the field (company announcement of operating results).Narrative Update • Dec 20
BNOR: Extraordinary Dividend Will Drive Shareholder Upside Through 2025
Analysts have marginally increased their price target on BlueNord to $566.20 from $566.19, citing a slightly higher discount rate and modestly improved long term profitability assumptions as key drivers of the change. What's in the News Preliminary production in November 2025 reached 36.5 mboepd net to BlueNord, with the Tyra hub averaging 20.6 mboepd as output ramped back up after the October shutdown, and base assets Dan, Gorm, and Halfdan delivering 22.7 mboepd net with operational efficiency above 90% (company announcement).Narrative Update • Dec 06
BNOR: Extraordinary Dividend Will Drive Shareholder Upside In 2025
Analysts have modestly raised their price target on BlueNord to $566.20 per share from $566.20, reflecting slightly lower perceived risk and marginally higher expected earnings multiples over the forecast horizon. What's in the News Extraordinary general meeting on November 20, 2025, to vote on an interim balance sheet, extraordinary dividend distribution, and a reduction of share capital through cancellation of treasury shares and lower nominal share value (Special/Extraordinary Shareholders Meeting).Narrative Update • Nov 22
BNOR: Dividend Payment And Tyra Field Production Will Drive Upside In 2025
Analysts have raised their price target for BlueNord from $561.40 to $566.20, citing slightly improved forecasts for revenue growth and profit margins. What's in the News BlueNord ASA approved a dividend of NOK 34.75 per share at the EGM held on November 20, 2025, with payment scheduled for on or about November 27, 2025 (Key Developments) Preliminary production in October 2025 was 36.5 mboepd net.Narrative Update • Nov 06
BNOR: Dividend Outlook And Production Ramp Will Boost Performance In 2025
Analysts Revise BlueNord Price Target Downward on Weaker Forecasts Analysts have reduced their price target for BlueNord from 602 kr to 561.4 kr, citing lower expectations for revenue growth, profit margin, and future valuation multiples. What's in the News Announcement of a dividend of NOK 34.75 per share for the third quarter of 2025, subject to approval at the EGM on 20 November 2025 (Key Developments) Special/Extraordinary Shareholders Meeting is scheduled for 20 November 2025 at 10:00 W.Narrative Update • Sep 27
Tyra Hub's Expansion Will Drive Increased Production Stability By 2025
BlueNord's fair value target was revised down to NOK602.00, as a sharp increase in the future P/E multiple outpaced even the improved revenue growth outlook. What's in the News BlueNord revised its Tyra Q4 2025 production guidance down to 21.0–27.0 mboepd from 26.0–30.0 mboepd.Analysis Article • Aug 10
BlueNord ASA (OB:BNOR) Investors Are Less Pessimistic Than Expected
When close to half the companies in the Oil and Gas industry in Norway have price-to-sales ratios (or "P/S") below...Analysis Article • Jul 10
BlueNord's (OB:BNOR) Returns On Capital Are Heading Higher
If we want to find a potential multi-bagger, often there are underlying trends that can provide clues. Amongst other...Analysis Article • Jun 18
These 4 Measures Indicate That BlueNord (OB:BNOR) Is Using Debt In A Risky Way
Some say volatility, rather than debt, is the best way to think about risk as an investor, but Warren Buffett famously...Analysis Article • Mar 11
Is There An Opportunity With BlueNord ASA's (OB:BNOR) 43% Undervaluation?
Key Insights The projected fair value for BlueNord is kr1,110 based on 2 Stage Free Cash Flow to Equity Current share...Analysis Article • Feb 15
BlueNord ASA Reported A Surprise Loss, And Analysts Have Updated Their Forecasts
As you might know, BlueNord ASA ( OB:BNOR ) recently reported its full-year numbers. Things were not great overall...
New Narrative • Feb 10
Tyra Redevelopment Will Reduce CO2 Emissions By 30% And Improve Operational Efficiency
Substantial production capacity increase from Tyra project expected to enhance revenue and operational cash flow starting in late 2024.Analysis Article • Jan 16
BlueNord ASA (OB:BNOR) Not Flying Under The Radar
When close to half the companies in the Oil and Gas industry in Norway have price-to-sales ratios (or "P/S") below...Analysis Article • Nov 07
BlueNord's (OB:BNOR) Conservative Accounting Might Explain Soft Earnings
Soft earnings didn't appear to concern BlueNord ASA's ( OB:BNOR ) shareholders over the last week. We did some digging...Analysis Article • Oct 23
Is BlueNord (OB:BNOR) Using Too Much Debt?
Warren Buffett famously said, 'Volatility is far from synonymous with risk.' When we think about how risky a company...Analysis Article • Oct 03
An Intrinsic Calculation For BlueNord ASA (OB:BNOR) Suggests It's 22% Undervalued
Key Insights BlueNord's estimated fair value is kr626 based on 2 Stage Free Cash Flow to Equity Current share price of...Analysis Article • Aug 31
Not Many Are Piling Into BlueNord ASA (OB:BNOR) Just Yet
With a median price-to-sales (or "P/S") ratio of close to 1.2x in the Oil and Gas industry in Norway, you could be...Analysis Article • Aug 05
BlueNord (OB:BNOR) Is Looking To Continue Growing Its Returns On Capital
If we want to find a stock that could multiply over the long term, what are the underlying trends we should look for...Earnings and Revenue Growth Forecasts
| Date | Revenue | Earnings | Free Cash Flow | Cash from Op | Avg. No. Analysts |
|---|---|---|---|---|---|
| 12/31/2028 | 1,138 | 138 | 203 | 423 | 6 |
| 12/31/2027 | 1,160 | 137 | 377 | 524 | 6 |
| 12/31/2026 | 1,252 | 153 | 658 | 718 | 5 |
| 3/31/2026 | 1,130 | 67 | 474 | 503 | N/A |
| 12/31/2025 | 1,039 | 95 | 374 | 417 | N/A |
| 9/30/2025 | 926 | -34 | 248 | 347 | N/A |
| 6/30/2025 | 850 | -28 | 162 | 306 | N/A |
| 3/31/2025 | 760 | -48 | 100 | 287 | N/A |
| 12/31/2024 | 702 | -71 | 72 | 309 | N/A |
| 9/30/2024 | 693 | 40 | -125 | 128 | N/A |
| 6/30/2024 | 723 | 29 | -131 | 160 | N/A |
| 3/31/2024 | 743 | 57 | -146 | 169 | N/A |
| 12/31/2023 | 795 | 110 | -61 | 250 | N/A |
| 9/30/2023 | 841 | 172 | 116 | 411 | N/A |
| 6/30/2023 | 934 | 160 | 236 | 508 | N/A |
| 3/31/2023 | 1,008 | 85 | 381 | 632 | N/A |
| 12/31/2022 | 967 | -9 | 317 | 561 | N/A |
| 9/30/2022 | 913 | -134 | 308 | 555 | N/A |
| 6/30/2022 | 769 | -119 | 187 | 424 | N/A |
| 3/31/2022 | 639 | -89 | 34 | 260 | N/A |
| 12/31/2021 | 565 | -53 | -178 | 50 | N/A |
| 9/30/2021 | 536 | -9 | -145 | 83 | N/A |
| 6/30/2021 | 542 | -15 | -113 | 110 | N/A |
| 3/31/2021 | 547 | 32 | -63 | 163 | N/A |
| 12/31/2020 | 566 | 17 | 110 | 348 | N/A |
| 9/30/2020 | 592 | 52 | 169 | 381 | N/A |
| 6/30/2020 | 596 | 226 | 179 | 386 | N/A |
| 3/31/2020 | 457 | 195 | 158 | 311 | N/A |
| 12/31/2019 | 333 | 215 | N/A | 249 | N/A |
| 9/30/2019 | 163 | 152 | N/A | N/A | N/A |
| 6/30/2019 | 3 | -21 | N/A | N/A | N/A |
| 3/31/2019 | 2 | -16 | N/A | -1 | N/A |
| 12/31/2018 | 2 | -17 | N/A | -2 | N/A |
| 9/30/2018 | 0 | -43 | N/A | N/A | N/A |
| 6/30/2018 | 1 | -46 | N/A | N/A | N/A |
| 3/31/2018 | 1 | -56 | N/A | 56 | N/A |
| 12/31/2017 | 1 | -51 | N/A | 53 | N/A |
| 9/30/2017 | 1 | -11 | N/A | 14 | N/A |
| 6/30/2017 | 1 | -12 | N/A | 13 | N/A |
| 3/31/2017 | 1 | -3 | N/A | 2 | N/A |
| 12/31/2016 | 1 | -3 | N/A | 18 | N/A |
| 9/30/2016 | 1 | -3 | N/A | 33 | N/A |
| 6/30/2016 | 1 | 15 | N/A | 33 | N/A |
| 3/31/2016 | 2 | -26 | N/A | 44 | N/A |
| 12/31/2015 | 1 | 224 | N/A | 44 | N/A |
| 9/30/2015 | -111 | 295 | N/A | 53 | N/A |
| 6/30/2015 | -83 | 168 | N/A | 62 | N/A |
Analyst Future Growth Forecasts
Earnings vs Savings Rate: BNOR's forecast earnings growth (17.8% per year) is above the savings rate (3.3%).
Earnings vs Market: BNOR's earnings (17.8% per year) are forecast to grow faster than the Norwegian market (9.9% per year).
High Growth Earnings: BNOR's earnings are forecast to grow, but not significantly.
Revenue vs Market: BNOR's revenue is expected to decline over the next 3 years (-0.7% per year).
High Growth Revenue: BNOR's revenue is forecast to decline over the next 3 years (-0.7% per year).
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: BNOR's Return on Equity is forecast to be high in 3 years time (38.6%)
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Company Analysis and Financial Data Status
| Data | Last Updated (UTC time) |
|---|---|
| Company Analysis | 2026/05/25 09:29 |
| End of Day Share Price | 2026/05/22 00:00 |
| Earnings | 2026/03/31 |
| Annual Earnings | 2025/12/31 |
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.
| Package | Data | Timeframe | Example US Source * |
|---|---|---|---|
| Company Financials | 10 years |
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| Analyst Consensus Estimates | +3 years |
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| Market Prices | 30 years |
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| Ownership | 10 years |
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| Management | 10 years |
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| Key Developments | 10 years |
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* 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.
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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
BlueNord ASA is covered by 12 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.
| Analyst | Institution |
|---|---|
| null null | ABG Sundal Collier |
| Alexander Holbourn | BofA Global Research |
| John A. Olaisen | Carnegie Investment Bank AB |