PGS ASA

OB:PGS Stock Report

Market Cap: NOK 8.6b

This company is no longer active

The company may no longer be operating, as it may be out of business. Find out why through their latest events.

PGS Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: PGS (NOK9.02) is trading below our estimate of fair value (NOK13.93)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PGS. This is calculated by dividing PGS's market cap by their current earnings.
What is PGS's PE Ratio?
PE Ratio19.1x
EarningsUS$42.20m
Market CapUS$807.72m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PGS vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average7.4x
SEA1 Sea1 Offshore
1.5x-37.0%NOK 4.6b
BWO BW Offshore
3.9x-36.1%NOK 5.2b
DOFG DOF Group
4.2x28.9%NOK 16.1b
AKSO Aker Solutions
20x4.4%NOK 24.1b
PGS PGS
19.1x36.1%NOK 8.6b

Price-To-Earnings vs Peers: PGS is good value based on its Price-To-Earnings Ratio (19.1x) compared to the peer average (31.9x).

Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SEA1 Sea1 Offshore
1.5x-37.0%US$412.38m
AWDR Awilco Drilling
0.2xn/aUS$31.01m
DWELLOP Dwellop
1xn/aUS$1.28m
No more companies available in this PE range
PGS 19.1xIndustry Avg. 9.3xNo. of Companies4PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PGS is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the Norwegian Energy Services industry average (13.8x).

Price to Earnings Ratio vs Fair Ratio

What is PGS'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.

PGS PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio19.1x
Fair PE Ratio16.4x

Price-To-Earnings vs Fair Ratio: PGS is expensive based on its Price-To-Earnings Ratio (19.1x) compared to the estimated Fair Price-To-Earnings Ratio (16.4x).

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 PGS forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Currentn/a
NOK 9.00
0%
23.2%NOK 11.47NOK 5.89n/a4
Nov ’25n/a
NOK 9.00
0%
23.2%NOK 11.47NOK 5.89n/a4
Oct ’25n/a
NOK 9.00
0%
23.2%NOK 11.47NOK 5.89n/a4
Sep ’25n/a
NOK 9.00
0%
23.2%NOK 11.47NOK 5.89n/a4
Aug ’25n/a
NOK 9.00
0%
23.2%NOK 11.47NOK 5.89n/a4
Jul ’25NOK 9.02
NOK 9.00
-0.2%
23.2%NOK 11.47NOK 5.89n/a4
Jun ’25NOK 9.42
NOK 9.44
+0.2%
22.9%NOK 12.54NOK 5.80n/a6
May ’25NOK 8.61
NOK 9.51
+10.5%
21.0%NOK 13.07NOK 6.28n/a6
Apr ’25NOK 7.86
NOK 8.55
+8.8%
28.8%NOK 12.98NOK 5.96n/a6
Mar ’25NOK 6.98
NOK 8.69
+24.4%
27.4%NOK 12.97NOK 5.96n/a6
Feb ’25NOK 6.55
NOK 10.22
+56.0%
20.7%NOK 12.97NOK 7.60n/a6
Jan ’25NOK 8.57
NOK 10.90
+27.2%
17.0%NOK 13.11NOK 7.93n/a6
Dec ’24NOK 8.98
NOK 10.90
+21.3%
17.0%NOK 13.11NOK 7.93n/a6
Nov ’24NOK 10.19
NOK 11.76
+15.5%
17.1%NOK 13.51NOK 8.15n/a6
Oct ’24NOK 9.37
NOK 10.34
+10.4%
26.4%NOK 13.78NOK 6.49n/a5
Sep ’24NOK 7.89
NOK 9.72
+23.2%
32.2%NOK 13.62NOK 5.87n/a7
Aug ’24NOK 7.12
NOK 9.24
+29.8%
32.4%NOK 12.96NOK 5.59n/a7
Jul ’24NOK 5.96
NOK 9.16
+53.8%
39.4%NOK 13.13NOK 4.73NOK 9.027
Jun ’24NOK 7.32
NOK 9.85
+34.5%
39.1%NOK 13.44NOK 5.21NOK 9.427
May ’24NOK 7.67
NOK 9.85
+28.4%
41.6%NOK 14.71NOK 5.00NOK 8.617
Apr ’24NOK 9.65
NOK 10.04
+4.1%
41.9%NOK 14.62NOK 4.89NOK 7.867
Mar ’24NOK 10.32
NOK 10.05
-2.6%
46.0%NOK 15.05NOK 3.50NOK 6.987
Feb ’24NOK 9.24
NOK 8.58
-7.1%
46.6%NOK 13.90NOK 3.47NOK 6.556
Jan ’24NOK 7.01
NOK 7.63
+8.8%
45.8%NOK 11.79NOK 2.99NOK 8.576
Dec ’23NOK 5.87
NOK 7.93
+35.3%
42.7%NOK 12.04NOK 3.92NOK 8.986
Nov ’23NOK 7.29
NOK 7.76
+6.5%
40.4%NOK 11.98NOK 4.04NOK 10.197

Analyst Forecast: Target price is lower than the current share price.

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