BW Offshore Limited

OB:BWO Stock Report

Market Cap: NOK 5.1b

BW Offshore Valuation

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

Below Fair Value: BWO (NOK28.2) is trading below our estimate of fair value (NOK331.85)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BWO. This is calculated by dividing BWO's market cap by their current earnings.
What is BWO's PE Ratio?
PE Ratio3.8x
EarningsUS$119.80m
Market CapUS$450.09m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BWO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9x
AKAST Akastor
2.7x-87.1%NOK 3.6b
SEA1 Sea1 Offshore
1.2x-42.6%NOK 3.7b
AKSO Aker Solutions
12.3x3.6%NOK 14.8b
SDSD S.D. Standard ETC
19.9xn/aNOK 902.1m
BWO BW Offshore
3.8x-8.2%NOK 5.1b

Price-To-Earnings vs Peers: BWO is good value based on its Price-To-Earnings Ratio (3.8x) compared to the peer average (9x).

Price to Earnings Ratio vs Industry

How does BWO's PE Ratio compare vs other companies in the NO Energy Services Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SEA1 Sea1 Offshore
1.2x-42.6%US$329.36m
AWDR Awilco Drilling
0.3xn/aUS$47.54m
DWELLOP Dwellop
1.7xn/aUS$2.18m
No more companies available in this PE range
BWO 3.8xIndustry Avg. 6.3xNo. of Companies4PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BWO is good value based on its Price-To-Earnings Ratio (3.8x) compared to the Norwegian Energy Services industry average (6.3x).

Price to Earnings Ratio vs Fair Ratio

What is BWO'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.

BWO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio3.8x
Fair PE Ratio6.6x

Price-To-Earnings vs Fair Ratio: BWO is good value based on its Price-To-Earnings Ratio (3.8x) compared to the estimated Fair Price-To-Earnings Ratio (6.6x).

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 BWO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 28.20
NOK 37.66
+33.5%
20.1%NOK 44.09NOK 27.05n/a3
Dec ’25NOK 27.90
NOK 37.66
+35.0%
20.1%NOK 44.09NOK 27.05n/a3
Nov ’25NOK 31.35
NOK 39.80
+26.9%
9.8%NOK 44.07NOK 34.68n/a3
Oct ’25NOK 28.95
NOK 39.27
+35.6%
10.1%NOK 43.72NOK 34.11n/a3
Sep ’25NOK 29.05
NOK 39.27
+35.2%
10.1%NOK 43.72NOK 34.11n/a3
Aug ’25NOK 29.85
NOK 39.58
+32.6%
10.1%NOK 43.90NOK 34.25n/a3
Jul ’25NOK 31.10
NOK 39.58
+27.3%
10.1%NOK 43.90NOK 34.25n/a3
Jun ’25NOK 30.30
NOK 39.59
+30.7%
11.7%NOK 45.03NOK 33.75n/a3
May ’25NOK 27.95
NOK 43.49
+55.6%
8.2%NOK 47.06NOK 39.92n/a2
Apr ’25NOK 27.20
NOK 44.26
+62.7%
3.9%NOK 45.97NOK 42.55n/a2
Mar ’25NOK 26.48
NOK 37.83
+42.9%
9.5%NOK 41.19NOK 32.85n/a3
Feb ’25NOK 24.00
NOK 37.83
+57.6%
9.5%NOK 41.19NOK 32.85n/a3
Jan ’25NOK 22.42
NOK 36.75
+63.9%
8.3%NOK 40.11NOK 31.99n/a4
Dec ’24NOK 22.42
NOK 38.80
+73.1%
7.0%NOK 41.16NOK 34.28NOK 27.904
Nov ’24NOK 23.52
NOK 38.63
+64.2%
7.8%NOK 42.01NOK 33.82NOK 31.354
Oct ’24NOK 24.60
NOK 38.63
+57.0%
7.8%NOK 42.01NOK 33.82NOK 28.954
Sep ’24NOK 25.12
NOK 39.66
+57.9%
12.4%NOK 47.22NOK 33.50NOK 29.054
Aug ’24NOK 28.50
NOK 41.37
+45.2%
7.8%NOK 45.55NOK 36.85NOK 29.854
Jul ’24NOK 26.20
NOK 42.93
+63.9%
6.6%NOK 45.89NOK 39.02NOK 31.104
Jun ’24NOK 25.70
NOK 44.93
+74.8%
4.4%NOK 46.61NOK 42.13NOK 30.303
May ’24NOK 28.36
NOK 43.50
+53.4%
5.4%NOK 45.77NOK 40.23NOK 27.953
Apr ’24NOK 29.72
NOK 42.47
+42.9%
5.9%NOK 45.56NOK 39.98NOK 27.204
Mar ’24NOK 28.98
NOK 40.46
+39.6%
6.0%NOK 44.31NOK 37.67NOK 26.484
Feb ’24NOK 27.08
NOK 40.46
+49.4%
6.0%NOK 44.31NOK 37.67NOK 24.004
Jan ’24NOK 24.86
NOK 40.46
+62.7%
6.0%NOK 44.31NOK 37.67NOK 22.424
Dec ’23NOK 25.10
NOK 43.16
+71.9%
9.5%NOK 48.90NOK 38.13NOK 22.424

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not 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 02:32
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 Offshore Limited is covered by 13 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Kristoffer IdenArctic Securities ASA
Chr. Frederik LundeCarnegie Investment Bank AB
Jeffrey SpittelClarksons Platou Securities