DOF Group ASA

OB:DOFG Stock Report

Market Cap: NOK 15.2b

DOF Group Valuation

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

Below Fair Value: DOFG (NOK84) is trading below our estimate of fair value (NOK653.56)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for DOFG. This is calculated by dividing DOFG's market cap by their current earnings.
What is DOFG's PE Ratio?
PE Ratio4x
EarningsUS$345.06m
Market CapUS$1.34b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for DOFG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average20.7x
AKSO Aker Solutions
12.3x3.6%NOK 14.7b
TGS TGS
40.6x49.7%NOK 21.6b
SUBC Subsea 7
28.6x34.1%NOK 52.1b
SEA1 Sea1 Offshore
1.2x-42.6%NOK 3.7b
DOFG DOF Group
4x25.5%NOK 15.2b

Price-To-Earnings vs Peers: DOFG is good value based on its Price-To-Earnings Ratio (4x) compared to the peer average (20.7x).

Price to Earnings Ratio vs Industry

How does DOFG'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$327.15m
AWDR Awilco Drilling
0.3xn/aUS$48.05m
DWELLOP Dwellop
1.7xn/aUS$2.19m
No more companies available in this PE range
DOFG 4.0xIndustry Avg. 6.2xNo. of Companies4PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: DOFG is good value based on its Price-To-Earnings Ratio (4x) compared to the Norwegian Energy Services industry average (6.2x).

Price to Earnings Ratio vs Fair Ratio

What is DOFG'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.

DOFG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio4x
Fair PE Ratio12.9x

Price-To-Earnings vs Fair Ratio: DOFG is good value based on its Price-To-Earnings Ratio (4x) compared to the estimated Fair Price-To-Earnings Ratio (12.9x).

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 DOFG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 84.00
NOK 138.25
+64.6%
5.8%NOK 150.00NOK 128.00n/a4
Dec ’25NOK 85.00
NOK 138.25
+62.6%
5.8%NOK 150.00NOK 128.00n/a4
Nov ’25NOK 87.65
NOK 138.25
+57.7%
5.8%NOK 150.00NOK 128.00n/a4
Oct ’25NOK 89.70
NOK 137.67
+53.5%
6.7%NOK 150.00NOK 128.00n/a3
Sep ’25NOK 98.70
NOK 137.67
+39.5%
6.7%NOK 150.00NOK 128.00n/a3
Aug ’25NOK 113.10
NOK 116.67
+3.2%
2.0%NOK 120.00NOK 115.00n/a3
Jul ’25NOK 97.00
NOK 115.00
+18.6%
3.1%NOK 120.00NOK 110.00n/a4
Jun ’25NOK 96.55
NOK 110.00
+13.9%
5.6%NOK 115.00NOK 100.00n/a4
May ’25NOK 82.10
NOK 87.50
+6.6%
11.9%NOK 100.00NOK 72.00n/a4
Apr ’25NOK 73.68
NOK 87.50
+18.8%
11.9%NOK 100.00NOK 72.00n/a4
Mar ’25NOK 69.00
NOK 82.50
+19.6%
9.3%NOK 93.00NOK 72.00n/a4
Feb ’25NOK 58.24
NOK 77.50
+33.1%
9.2%NOK 88.00NOK 70.00n/a4
Jan ’25NOK 56.71
NOK 73.75
+30.0%
5.1%NOK 80.00NOK 70.00n/a4
Dec ’24NOK 51.82
NOK 73.75
+42.3%
5.1%NOK 80.00NOK 70.00NOK 85.004
Nov ’24NOK 52.80
NOK 66.50
+25.9%
9.5%NOK 75.00NOK 59.00NOK 87.654
Oct ’24NOK 51.00
NOK 66.50
+30.4%
9.5%NOK 75.00NOK 59.00NOK 89.704
Sep ’24NOK 48.78
NOK 65.67
+34.6%
5.0%NOK 70.00NOK 62.00NOK 98.703
Aug ’24NOK 41.83
NOK 57.50
+37.5%
4.3%NOK 60.00NOK 55.00NOK 113.102

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

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 21:13
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

DOF Group ASA is covered by 12 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
Anders HolteABG Sundal Collier
Kristoffer IdenArctic Securities ASA
Salman AlamCarnegie Investment Bank AB