Orkla Valuation

Q: What is the Fair Price of ORK when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

ORK (NOK107.5) is trading below our estimate of [[fair value]] (NOK132.19)

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

Valuation Score

2/6

Valuation Score 2/6

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

Discounted Cash Flow

Simply Wall St

NOK 132.19

Fair Value

18.7% undervalued

Number of Analysts

Below Fair Value: ORK (NOK107.5) is trading below our estimate of fair value (NOK132.19)

Significantly Below Fair Value: ORK is trading below fair value, but not by a significant amount.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ORK. This is calculated by dividing ORK's market cap by their current earnings.
What is ORK's PE Ratio?
PE Ratio	17.7x
Earnings	NOK 6.06b
Market Cap	NOK 107.19b

ORK 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	1.8x
Enterprise Value/EBITDA	11.4x
PEG Ratio	2.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ORK vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	26x
MOWI Mowi	21.1x	22.9%	NOK 115.1b
SALM SalMar	24.1x	28.4%	NOK 79.0b
BAKKA P/F Bakkafrost	41.8x	43.9%	NOK 37.2b
LSG Lerøy Seafood Group	17.1x	25.7%	NOK 32.9b
ORK Orkla	17.7x	6.6%	NOK 107.2b

Price-To-Earnings vs Peers: ORK is good value based on its Price-To-Earnings Ratio (17.7x) compared to the peer average (26x).

Price to Earnings Ratio vs Industry

How does ORK's PE Ratio compare vs other companies in the European Food Industry?

4 Companies	Price / Earnings	Estimated Growth	Market Cap

4 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Earnings vs Industry: ORK is expensive based on its Price-To-Earnings Ratio (17.7x) compared to the European Food industry average (14.1x).

Price to Earnings Ratio vs Fair Ratio

What is ORK'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.

ORK PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	17.7x
Fair PE Ratio	15.5x

Price-To-Earnings vs Fair Ratio: ORK is expensive based on its Price-To-Earnings Ratio (17.7x) compared to the estimated Fair Price-To-Earnings Ratio (15.5x).

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 ORK forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 107.50	NOK 106.17 -1.2%	8.9%	NOK 120.00	NOK 92.00	n/a	6
Feb ’26	NOK 105.30	NOK 104.50 -0.8%	7.7%	NOK 115.00	NOK 92.00	n/a	6
Jan ’26	NOK 98.35	NOK 99.50 +1.2%	9.8%	NOK 115.00	NOK 84.00	n/a	6
Dec ’25	NOK 101.90	NOK 99.50 -2.4%	9.8%	NOK 115.00	NOK 84.00	n/a	6
Nov ’25	NOK 102.20	NOK 93.67 -8.3%	13.8%	NOK 115.00	NOK 76.00	n/a	6
Oct ’25	NOK 98.80	NOK 91.00 -7.9%	10.6%	NOK 105.00	NOK 76.00	n/a	7
Sep ’25	NOK 94.20	NOK 89.57 -4.9%	9.9%	NOK 105.00	NOK 76.00	n/a	7
Aug ’25	NOK 91.20	NOK 89.57 -1.8%	9.9%	NOK 105.00	NOK 76.00	n/a	7
Jul ’25	NOK 85.40	NOK 86.43 +1.2%	8.9%	NOK 100.00	NOK 75.00	n/a	7
Jun ’25	NOK 83.55	NOK 83.43 -0.1%	6.6%	NOK 92.00	NOK 75.00	n/a	7
May ’25	NOK 75.80	NOK 81.71 +7.8%	7.3%	NOK 90.00	NOK 74.00	n/a	7
Apr ’25	NOK 76.54	NOK 82.71 +8.1%	10.8%	NOK 100.00	NOK 72.00	n/a	7
Mar ’25	NOK 76.06	NOK 82.71 +8.7%	10.8%	NOK 100.00	NOK 72.00	n/a	7
Feb ’25	NOK 82.20	NOK 86.57 +5.3%	15.3%	NOK 107.00	NOK 72.00	NOK 105.30	7
Jan ’25	NOK 78.84	NOK 86.43 +9.6%	15.1%	NOK 107.00	NOK 72.00	NOK 98.35	7
Dec ’24	NOK 80.32	NOK 88.00 +9.6%	13.8%	NOK 107.00	NOK 72.00	NOK 101.90	7
Nov ’24	NOK 77.48	NOK 87.86 +13.4%	15.4%	NOK 107.00	NOK 72.00	NOK 102.20	7
Oct ’24	NOK 79.98	NOK 86.71 +8.4%	15.8%	NOK 105.00	NOK 67.00	NOK 98.80	7
Sep ’24	NOK 80.20	NOK 86.86 +8.3%	15.8%	NOK 105.00	NOK 67.00	NOK 94.20	7
Aug ’24	NOK 80.42	NOK 86.86 +8.0%	15.8%	NOK 105.00	NOK 67.00	NOK 91.20	7
Jul ’24	NOK 77.10	NOK 81.14 +5.2%	14.9%	NOK 96.00	NOK 62.00	NOK 85.40	7
Jun ’24	NOK 80.28	NOK 81.14 +1.1%	14.9%	NOK 96.00	NOK 62.00	NOK 83.55	7
May ’24	NOK 76.60	NOK 73.33 -4.3%	8.2%	NOK 80.00	NOK 62.00	NOK 75.80	6
Apr ’24	NOK 74.26	NOK 72.67 -2.1%	8.5%	NOK 80.00	NOK 62.00	NOK 76.54	6
Mar ’24	NOK 69.60	NOK 72.00 +3.4%	8.2%	NOK 80.00	NOK 62.00	NOK 76.06	7
Feb ’24	NOK 74.58	NOK 74.00 -0.8%	8.4%	NOK 85.00	NOK 65.00	NOK 82.20	7

Analyst Price Target

Consensus Narrative from 6 Analysts

NOK 106.17

Fair Value

1.3% overvalued

Number of Analysts

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

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Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2025/02/15 01:16
End of Day Share Price	2025/02/14 00:00
Earnings	2024/12/31
Annual Earnings	2024/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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.

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 Github.

Analyst Sources

Orkla ASA is covered by 23 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
null null	ABG Sundal Collier
Kenneth Sivertsen	Arctic Securities ASA
Patrick Folan	Barclays