Norcod Valuation

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

Valuation Score

1/6

Valuation Score 1/6

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

Below Fair Value: Insufficient data to calculate NCOD's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate NCOD's fair value for valuation analysis.

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for NCOD. This is calculated by dividing NCOD's market cap by their current revenue.
What is NCOD's PS Ratio?
PS Ratio	3x
Sales	NOK 309.40m
Market Cap	NOK 914.68m

NCOD key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	3.8x
Enterprise Value/EBITDA	-5.4x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NCOD vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	4.8x
KING Kingfish	2.3x	32.5%	NOK 637.4m
NOHAL Nordic Halibut	11.6x	39.4%	NOK 977.7m
ASA Atlantic Sapphire	3x	25.9%	NOK 572.9m
AFISH Arctic Fish Holding	2.4x	28.3%	NOK 2.1b
NCOD Norcod	3x	n/a	NOK 914.7m

Price-To-Sales vs Peers: NCOD is good value based on its Price-To-Sales Ratio (3x) compared to the peer average (4.8x).

Price to Sales Ratio vs Industry

How does NCOD's PS Ratio compare vs other companies in the NO Food Industry?

1 Company	Price / Sales	Estimated Growth	Market Cap
BARRA Barramundi Group	0.2x	n/a	US$4.88m

No more companies available in this PS range

1 Company		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: NCOD is expensive based on its Price-To-Sales Ratio (3x) compared to the Norwegian Food industry average (2.5x).

Price to Sales Ratio vs Fair Ratio

What is NCOD'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.

NCOD PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	3x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate NCOD's Price-To-Sales Fair Ratio for valuation analysis.

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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