OKEA ASA

OB:OKEA Stock Report

Market Cap: NOK 2.1b

OKEA Valuation

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

Below Fair Value: OKEA (NOK20.06) is trading below our estimate of fair value (NOK47.03)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for OKEA. This is calculated by dividing OKEA's market cap by their current revenue.
What is OKEA's PS Ratio?
PS Ratio0.2x
SalesNOK 10.84b
Market CapNOK 2.08b

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for OKEA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average1.1x
PEN Panoro Energy
1.2x11.3%NOK 3.0b
PNOR PetroNor E&P
0.6xn/aNOK 1.5b
BWE BW Energy
0.7x6.0%NOK 6.4b
BNOR BlueNord
2x20.2%NOK 15.7b
OKEA OKEA
0.2x-13.1%NOK 2.1b

Price-To-Sales vs Peers: OKEA is good value based on its Price-To-Sales Ratio (0.2x) compared to the peer average (1.1x).

Price to Sales Ratio vs Industry

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

1 CompanyPrice / SalesEstimated GrowthMarket Cap
SEAPT Seacrest Petroleo Bermuda
0.03x31.8%US$6.94m
No more companies available in this PS range
OKEA 0.2xIndustry Avg. 1.0xNo. of Companies5PS00.61.21.82.43+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: OKEA is good value based on its Price-To-Sales Ratio (0.2x) compared to the Norwegian Oil and Gas industry average (1.1x).

Price to Sales Ratio vs Fair Ratio

What is OKEA'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.

OKEA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio0.2x
Fair PS Ratio0.9x

Price-To-Sales vs Fair Ratio: OKEA is good value based on its Price-To-Sales Ratio (0.2x) 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 OKEA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 20.06
NOK 35.60
+77.5%
31.4%NOK 55.00NOK 25.00n/a5
Nov ’25NOK 22.00
NOK 35.60
+61.8%
31.4%NOK 55.00NOK 25.00n/a5
Oct ’25NOK 22.90
NOK 36.00
+57.2%
30.9%NOK 55.00NOK 25.00n/a5
Sep ’25NOK 21.96
NOK 35.00
+59.4%
34.2%NOK 55.00NOK 23.00n/a5
Aug ’25NOK 23.62
NOK 35.00
+48.2%
34.2%NOK 55.00NOK 23.00n/a5
Jul ’25NOK 25.12
NOK 37.00
+47.3%
30.5%NOK 55.00NOK 25.00n/a5
Jun ’25NOK 25.64
NOK 37.40
+45.9%
29.1%NOK 55.00NOK 27.00n/a5
May ’25NOK 25.90
NOK 37.40
+44.4%
29.1%NOK 55.00NOK 27.00n/a5
Apr ’25NOK 24.78
NOK 36.60
+47.7%
31.8%NOK 55.00NOK 25.00n/a5
Mar ’25NOK 24.10
NOK 37.00
+53.5%
31.1%NOK 55.00NOK 25.00n/a5
Feb ’25NOK 23.52
NOK 38.00
+61.6%
30.6%NOK 55.00NOK 25.00n/a5
Jan ’25NOK 26.60
NOK 46.40
+74.4%
12.4%NOK 55.00NOK 40.00n/a5
Dec ’24NOK 32.32
NOK 47.40
+46.7%
10.4%NOK 55.00NOK 40.00n/a5
Nov ’24NOK 38.82
NOK 46.40
+19.5%
10.8%NOK 55.00NOK 40.00NOK 22.005
Oct ’24NOK 38.16
NOK 46.50
+21.9%
10.8%NOK 55.00NOK 42.00NOK 22.904
Sep ’24NOK 39.28
NOK 46.75
+19.0%
10.3%NOK 55.00NOK 43.00NOK 21.964
Aug ’24NOK 37.14
NOK 46.20
+24.4%
12.2%NOK 55.00NOK 40.00NOK 23.625
Jul ’24NOK 30.72
NOK 45.40
+47.8%
11.7%NOK 55.00NOK 40.00NOK 25.125
Jun ’24NOK 31.72
NOK 47.00
+48.2%
10.3%NOK 55.00NOK 42.00NOK 25.644
May ’24NOK 30.80
NOK 46.25
+50.2%
11.4%NOK 55.00NOK 41.00NOK 25.904
Apr ’24NOK 31.55
NOK 48.00
+52.1%
10.3%NOK 55.00NOK 44.00NOK 24.783
Mar ’24NOK 32.15
NOK 51.33
+59.7%
10.1%NOK 55.00NOK 44.00NOK 24.103
Feb ’24NOK 33.10
NOK 60.67
+83.3%
11.0%NOK 70.00NOK 55.00NOK 23.523
Jan ’24NOK 34.20
NOK 63.50
+85.7%
10.2%NOK 70.00NOK 57.00NOK 26.602
Dec ’23NOK 40.40
NOK 60.67
+50.2%
11.0%NOK 70.00NOK 55.00NOK 32.323
Nov ’23NOK 44.15
NOK 60.67
+37.4%
11.0%NOK 70.00NOK 55.00NOK 38.823

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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