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This company is no longer active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 Average5.7x
SEA1 Sea1 Offshore
1.3x-42.6%NOK 3.9b
BWO BW Offshore
4.2x-7.6%NOK 5.7b
DOFG DOF Group
4.2x22.0%NOK 16.5b
AKSO Aker Solutions
13.3x3.6%NOK 15.9b
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?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
SEA1 Sea1 Offshore
1.3x-42.6%US$341.83m
AWDR Awilco Drilling
0.3xn/aUS$48.29m
No more companies available in this PE range
PGS 19.1xIndustry Avg. 6.5xNo. of Companies4PE0816243240+
2 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
Dec ’25n/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

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

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/07/01 17:16
End of Day Share Price 2024/07/01 00:00
Earnings2024/03/31
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

PGS ASA is covered by 28 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Iver BaatvikABN AMRO Bank N.V.
Marzio FoaAlphaValue
Christian YggesethArctic Securities ASA