BW Energy Limited

OB:BWE Stock Report

Market Cap: NOK 6.6b

BW Energy Valuation

Is BWE undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

6/6

Valuation Score 6/6

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

Below Fair Value: BWE (NOK22.85) is trading below our estimate of fair value (NOK359.73)

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

Key Valuation Metric

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

Key metric: As BWE is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BWE. This is calculated by dividing BWE's market cap by their current earnings.
What is BWE's PE Ratio?
PE Ratio3.1x
EarningsUS$190.10m
Market CapUS$582.78m

Price to Earnings Ratio vs Peers

How does BWE's PE Ratio compare to its peers?

The above table shows the PE ratio for BWE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average15.1x
PEN Panoro Energy
9.5x32.8%NOK 3.1b
PNOR PetroNor E&P
2.9xn/aNOK 1.7b
BNOR BlueNord
36.5x50.9%NOK 16.5b
DNO DNO
11.4x15.3%NOK 9.7b
BWE BW Energy
3.1x7.2%NOK 6.6b

Price-To-Earnings vs Peers: BWE is good value based on its Price-To-Earnings Ratio (3.1x) compared to the peer average (15.1x).

Price to Earnings Ratio vs Industry

How does BWE's PE Ratio compare vs other companies in the European Oil and Gas Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BWE 3.1xIndustry Avg. 8.3xNo. of Companies17PE0612182430+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BWE is good value based on its Price-To-Earnings Ratio (3.1x) compared to the European Oil and Gas industry average (8.3x).

Price to Earnings Ratio vs Fair Ratio

What is BWE'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.

BWE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.1x
Fair PE Ratio8.6x

Price-To-Earnings vs Fair Ratio: BWE is good value based on its Price-To-Earnings Ratio (3.1x) compared to the estimated Fair Price-To-Earnings Ratio (8.6x).

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 BWE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 22.85
NOK 35.80
+56.7%
13.8%NOK 41.07NOK 29.05n/a4
Dec ’25NOK 22.25
NOK 35.80
+60.9%
13.8%NOK 41.07NOK 29.05n/a4
Nov ’25NOK 22.95
NOK 36.79
+60.3%
15.9%NOK 43.59NOK 29.38n/a4
Oct ’25NOK 23.35
NOK 37.55
+60.8%
16.9%NOK 44.29NOK 28.97n/a4
Sep ’25NOK 26.80
NOK 37.28
+39.1%
13.7%NOK 42.97NOK 31.50n/a4
Aug ’25NOK 30.65
NOK 38.79
+26.6%
11.7%NOK 43.50NOK 32.87n/a4
Jul ’25NOK 31.30
NOK 36.25
+15.8%
9.4%NOK 40.30NOK 31.93n/a3
Jun ’25NOK 33.60
NOK 35.24
+4.9%
11.3%NOK 39.71NOK 30.02n/a3
May ’25NOK 29.10
NOK 33.53
+15.2%
10.2%NOK 38.37NOK 31.01n/a3
Apr ’25NOK 26.65
NOK 32.54
+22.1%
9.5%NOK 36.91NOK 30.02n/a3
Mar ’25NOK 27.05
NOK 34.58
+27.8%
7.6%NOK 37.24NOK 30.98n/a3
Feb ’25NOK 28.20
NOK 34.94
+23.9%
4.3%NOK 36.74NOK 33.05n/a3
Jan ’25NOK 27.00
NOK 35.60
+31.9%
1.5%NOK 36.13NOK 35.08n/a2
Dec ’24NOK 25.05
NOK 37.03
+47.8%
1.0%NOK 37.39NOK 36.67NOK 22.252
Nov ’24NOK 27.90
NOK 39.28
+40.8%
15.9%NOK 47.83NOK 33.01NOK 22.953
Oct ’24NOK 27.35
NOK 39.28
+43.6%
15.9%NOK 47.83NOK 33.01NOK 23.353
Sep ’24NOK 26.70
NOK 39.78
+49.0%
15.4%NOK 47.83NOK 33.01NOK 26.803
Aug ’24NOK 29.65
NOK 39.78
+34.2%
16.9%NOK 48.38NOK 32.01NOK 30.653
Jul ’24NOK 25.80
NOK 39.78
+54.2%
16.9%NOK 48.38NOK 32.01NOK 31.303
Jun ’24NOK 26.80
NOK 44.56
+66.3%
13.6%NOK 49.75NOK 36.03NOK 33.603
May ’24NOK 28.60
NOK 42.84
+49.8%
11.9%NOK 47.88NOK 35.88NOK 29.103
Apr ’24NOK 26.92
NOK 43.97
+63.3%
13.4%NOK 49.98NOK 35.95NOK 26.653
Mar ’24NOK 29.10
NOK 45.07
+54.9%
14.7%NOK 52.04NOK 36.18NOK 27.053
Feb ’24NOK 28.50
NOK 43.77
+53.6%
12.0%NOK 49.63NOK 36.90NOK 28.203
Jan ’24NOK 25.14
NOK 42.02
+67.2%
18.7%NOK 49.83NOK 31.26NOK 27.003
Dec ’23NOK 26.86
NOK 42.02
+56.5%
18.7%NOK 49.83NOK 31.26NOK 25.053

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/26 08:43
End of Day Share Price 2024/12/23 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

BW Energy Limited is covered by 6 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
Steffen EvjenDanske Bank
Christian YggesethDanske Bank
Steffen EvjenDNB Markets