BlueNord Valuation

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

Discounted Cash Flow
Simply Wall St
NOK 1.03k
Fair Value
33.4% undervalued intrinsic discount
4
Number of Analysts

Below Fair Value: BNOR (NOK688) is trading below our estimate of fair value (NOK1032.8)

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


Key Valuation Metric

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

Key metric: As BNOR is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for BNOR. This is calculated by dividing BNOR's market cap by their current revenue.
What is BNOR's PS Ratio?
PS Ratio2.3x
SalesUS$702.30m
Market CapUS$1.64b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for BNOR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.2x
DNO DNO
1.6x6.5%NOK 12.2b
VAR Vår Energi
1x3.4%NOK 83.6b
BWE BW Energy
0.8x2.1%NOK 7.5b
PEN Panoro Energy
1.3x7.2%NOK 3.2b
BNOR BlueNord
2.3x12.8%NOK 18.2b

Price-To-Sales vs Peers: BNOR is expensive based on its Price-To-Sales Ratio (2.3x) compared to the peer average (1.2x).


Price to Sales Ratio vs Industry

How does BNOR's PS Ratio compare vs other companies in the NO Oil and Gas Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
SEAPT Seacrest Petroleo Bermuda
0.02x34.1%US$4.91m
No more companies available in this PS range
BNOR 2.3xIndustry Avg. 0.8xNo. of Companies3PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: BNOR is expensive based on its Price-To-Sales Ratio (2.3x) compared to the Norwegian Oil and Gas industry average (0.8x).


Price to Sales Ratio vs Fair Ratio

What is BNOR'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.

BNOR PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio2.3x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: BNOR is expensive based on its Price-To-Sales Ratio (2.3x) 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 BNOR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 688.00
NOK 720.00
+4.7%
8.9%NOK 830.00NOK 670.00n/a4
Feb ’26NOK 672.00
NOK 720.00
+7.1%
8.9%NOK 830.00NOK 670.00n/a4
Jan ’26NOK 657.00
NOK 720.00
+9.6%
8.9%NOK 830.00NOK 670.00n/a4
Dec ’25NOK 590.00
NOK 720.00
+22.0%
8.9%NOK 830.00NOK 670.00n/a4
Nov ’25NOK 534.00
NOK 686.67
+28.6%
11.9%NOK 800.00NOK 610.00n/a3
Oct ’25NOK 478.00
NOK 678.33
+41.9%
13.3%NOK 800.00NOK 585.00n/a3
Sep ’25NOK 478.50
NOK 686.67
+43.5%
11.9%NOK 800.00NOK 610.00n/a3
Aug ’25NOK 508.00
NOK 686.67
+35.2%
11.9%NOK 800.00NOK 610.00n/a3
Jul ’25NOK 563.00
NOK 707.50
+25.7%
13.1%NOK 800.00NOK 615.00n/a2
Jun ’25NOK 550.00
NOK 681.67
+23.9%
12.3%NOK 800.00NOK 615.00n/a3
May ’25NOK 569.00
NOK 640.67
+12.6%
1.3%NOK 650.00NOK 630.00n/a3
Apr ’25NOK 573.00
NOK 644.00
+12.4%
1.9%NOK 660.00NOK 630.00n/a3
Mar ’25NOK 552.00
NOK 650.67
+17.9%
1.1%NOK 660.00NOK 642.00n/a3
Feb ’25NOK 502.00
NOK 649.33
+29.3%
1.4%NOK 660.00NOK 638.00NOK 672.003
Jan ’25NOK 497.50
NOK 619.00
+24.4%
3.1%NOK 638.00NOK 600.00NOK 657.002
Dec ’24NOK 496.00
NOK 619.00
+24.8%
3.1%NOK 638.00NOK 600.00NOK 590.002
Nov ’24NOK 591.00
NOK 619.00
+4.7%
3.1%NOK 638.00NOK 600.00NOK 534.002
Oct ’24NOK 519.00
NOK 573.00
+10.4%
4.7%NOK 600.00NOK 546.00NOK 478.002
Sep ’24NOK 494.50
NOK 573.00
+15.9%
4.7%NOK 600.00NOK 546.00NOK 478.502
Aug ’24NOK 437.50
NOK 573.00
+31.0%
4.7%NOK 600.00NOK 546.00NOK 508.002
Jul ’24NOK 409.00
NOK 572.50
+40.0%
4.8%NOK 600.00NOK 545.00NOK 563.002
Jun ’24NOK 383.00
NOK 546.50
+42.7%
9.8%NOK 600.00NOK 493.00NOK 550.002
May ’24NOK 362.50
NOK 546.50
+50.8%
9.8%NOK 600.00NOK 493.00NOK 569.002
Apr ’24NOK 350.00
NOK 546.50
+56.1%
9.8%NOK 600.00NOK 493.00NOK 573.002
Mar ’24NOK 403.50
NOK 546.50
+35.4%
9.8%NOK 600.00NOK 493.00NOK 552.002
Analyst Price Target
Consensus Narrative from 4 Analysts
NOK 720.00
Fair Value
4.4% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.


Discover undervalued companies

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/02/23 05:22
End of Day Share Price 2025/02/21 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

BlueNord ASA is covered by 15 analysts. 4 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
Anna-Karin HempelArctic Securities ASA
Morten LindbäckBeringer Finance AB