Gjensidige Forsikring ASA

OB:GJF Stock Report

Market Cap: NOK 96.4b

Gjensidige Forsikring Valuation

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

Below Fair Value: GJF (NOK192.8) is trading below our estimate of fair value (NOK316.64)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

GJF 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/Revenue2.4x
Enterprise Value/EBITDA23.9x
PEG Ratio1.8x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for GJF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.8x
PROT Protector Forsikring
15.7x8.0%NOK 21.0b
STB Storebrand
15x7.2%NOK 48.1b
AIZ Assurant
11.3x6.7%US$8.6b
ASRNL ASR Nederland
9.1x3.3%€9.5b
GJF Gjensidige Forsikring
25.8x14.5%NOK 96.4b

Price-To-Earnings vs Peers: GJF is expensive based on its Price-To-Earnings Ratio (25.8x) compared to the peer average (12.8x).

Price to Earnings Ratio vs Industry

How does GJF's PE Ratio compare vs other companies in the European Insurance Industry?

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.8%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a7.8%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: GJF is expensive based on its Price-To-Earnings Ratio (25.8x) compared to the European Insurance industry average (10.8x).

Price to Earnings Ratio vs Fair Ratio

What is GJF'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.

GJF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.8x
Fair PE Ratio21x

Price-To-Earnings vs Fair Ratio: GJF is expensive based on its Price-To-Earnings Ratio (25.8x) compared to the estimated Fair Price-To-Earnings Ratio (21x).

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 GJF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 192.80
NOK 191.15
-0.9%
7.9%NOK 220.00NOK 170.90n/a13
Jun ’25NOK 183.70
NOK 188.35
+2.5%
10.0%NOK 220.00NOK 154.00n/a14
May ’25NOK 178.70
NOK 187.64
+5.0%
10.1%NOK 220.00NOK 154.00n/a14
Apr ’25NOK 157.20
NOK 190.16
+21.0%
11.8%NOK 245.00NOK 155.00n/a14
Mar ’25NOK 169.80
NOK 190.16
+12.0%
11.8%NOK 245.00NOK 155.00n/a14
Feb ’25NOK 168.40
NOK 194.38
+15.4%
10.0%NOK 245.00NOK 165.30n/a14
Jan ’25NOK 187.50
NOK 192.54
+2.7%
12.8%NOK 245.00NOK 140.50n/a14
Dec ’24NOK 182.90
NOK 191.61
+4.8%
13.1%NOK 245.00NOK 140.50n/a14
Nov ’24NOK 169.20
NOK 186.04
+10.0%
12.8%NOK 240.00NOK 140.50n/a14
Oct ’24NOK 157.50
NOK 187.94
+19.3%
12.4%NOK 240.00NOK 156.00n/a14
Sep ’24NOK 164.30
NOK 189.02
+15.0%
14.3%NOK 256.00NOK 156.00n/a13
Aug ’24NOK 161.30
NOK 189.02
+17.2%
14.3%NOK 256.00NOK 156.00n/a13
Jul ’24NOK 171.80
NOK 200.19
+16.5%
11.7%NOK 257.00NOK 159.00NOK 192.8014
Jun ’24NOK 180.00
NOK 200.98
+11.7%
11.0%NOK 257.00NOK 162.70NOK 183.7014
May ’24NOK 185.30
NOK 202.16
+9.1%
10.9%NOK 257.00NOK 168.10NOK 178.7013
Apr ’24NOK 171.30
NOK 201.36
+17.6%
13.0%NOK 260.00NOK 150.00NOK 157.2014
Mar ’24NOK 186.50
NOK 203.78
+9.3%
12.6%NOK 260.00NOK 150.00NOK 169.8013
Feb ’24NOK 180.90
NOK 205.08
+13.4%
13.0%NOK 260.00NOK 150.00NOK 168.4013
Jan ’24NOK 192.20
NOK 207.45
+7.9%
12.2%NOK 260.00NOK 158.00NOK 187.5013
Dec ’23NOK 191.10
NOK 209.45
+9.6%
11.6%NOK 260.00NOK 158.00NOK 182.9013
Nov ’23NOK 188.00
NOK 211.84
+12.7%
11.9%NOK 263.00NOK 158.00NOK 169.2014
Oct ’23NOK 187.00
NOK 220.29
+17.8%
8.8%NOK 263.00NOK 179.80NOK 157.5013
Sep ’23NOK 203.40
NOK 219.68
+8.0%
8.5%NOK 260.00NOK 179.80NOK 164.3013
Aug ’23NOK 200.80
NOK 219.68
+9.4%
8.5%NOK 260.00NOK 179.80NOK 161.3013
Jul ’23NOK 205.20
NOK 225.54
+9.9%
6.7%NOK 260.00NOK 207.00NOK 171.8012

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

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