Protector Forsikring ASA

OB:PROT Stock Report

Market Cap: NOK 40.1b

Protector Forsikring Valuation

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

NOK 880.3
Fair Value
44.7% undervalued intrinsic discount
3
Number of Analysts

Below Fair Value: PROT (NOK486.5) is trading below our estimate of fair value (NOK880.3)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for PROT. This is calculated by dividing PROT's market cap by their current earnings.
What is PROT's PE Ratio?
PE Ratio17.5x
EarningsNOK 2.29b
Market CapNOK 40.05b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for PROT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average22.8x
GJF Gjensidige Forsikring
22.8x10.62%NOK 144.1b
STB Storebrand
14x3.56%NOK 64.5b
CLIS Clal Insurance Enterprises Holdings
18.1xn/a₪13.5b
8230 Al Rajhi Company for Cooperative Insurance
36.2xn/aر.س12.0b
PROT Protector Forsikring
17.5x-3.73%NOK 40.1b

Price-To-Earnings vs Peers: PROT is good value based on its Price-To-Earnings Ratio (17.5x) compared to the peer average (22.8x).

Price to Earnings Ratio vs Industry

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

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
PROT 17.5xIndustry Avg. 12.6xNo. of Companies15PE0816243240+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: PROT is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the European Insurance industry average (12.6x).

Price to Earnings Ratio vs Fair Ratio

What is PROT'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.

PROT PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio17.5x
Fair PE Ratio14.3x

Price-To-Earnings vs Fair Ratio: PROT is expensive based on its Price-To-Earnings Ratio (17.5x) compared to the estimated Fair Price-To-Earnings Ratio (14.3x).

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 PROT forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 486.50
NOK 554.00
+13.87%
1.53%NOK 560.00NOK 542.00n/a3
Sep ’26NOK 478.00
NOK 554.00
+15.90%
1.53%NOK 560.00NOK 542.00n/a3
Aug ’26NOK 503.00
NOK 554.00
+10.14%
1.53%NOK 560.00NOK 542.00n/a3
Jul ’26NOK 426.50
NOK 393.33
-7.78%
2.40%NOK 400.00NOK 380.00n/a3
Jun ’26NOK 404.50
NOK 393.33
-2.76%
2.40%NOK 400.00NOK 380.00n/a3
May ’26NOK 365.50
NOK 393.33
+7.62%
2.40%NOK 400.00NOK 380.00n/a3
Apr ’26NOK 343.00
NOK 375.00
+9.33%
1.09%NOK 380.00NOK 370.00n/a3
Mar ’26NOK 317.50
NOK 373.33
+17.59%
1.67%NOK 380.00NOK 365.00n/a3
Feb ’26NOK 331.00
NOK 373.33
+12.79%
1.67%NOK 380.00NOK 365.00n/a3
Jan ’26NOK 285.00
NOK 306.67
+7.60%
13.66%NOK 350.00NOK 250.00n/a3
Dec ’25NOK 289.00
NOK 306.67
+6.11%
13.66%NOK 350.00NOK 250.00n/a3
Nov ’25NOK 289.00
NOK 306.67
+6.11%
13.66%NOK 350.00NOK 250.00n/a3
Oct ’25NOK 243.00
NOK 270.00
+11.11%
6.05%NOK 290.00NOK 250.00NOK 492.503
Sep ’25NOK 226.50
NOK 270.00
+19.21%
6.05%NOK 290.00NOK 250.00NOK 478.003
Aug ’25NOK 222.00
NOK 270.00
+21.62%
6.05%NOK 290.00NOK 250.00NOK 503.003
Jul ’25NOK 255.00
NOK 261.33
+2.48%
3.96%NOK 275.00NOK 250.00NOK 426.503
Jun ’25NOK 242.50
NOK 259.67
+7.08%
3.15%NOK 270.00NOK 250.00NOK 404.503
May ’25NOK 226.00
NOK 259.67
+14.90%
3.15%NOK 270.00NOK 250.00NOK 365.503
Apr ’25NOK 227.00
NOK 251.67
+10.87%
3.76%NOK 264.00NOK 241.00NOK 343.003
Mar ’25NOK 214.50
NOK 251.67
+17.33%
3.76%NOK 264.00NOK 241.00NOK 317.503
Feb ’25NOK 215.50
NOK 240.00
+11.37%
10.30%NOK 264.00NOK 206.00NOK 331.003
Jan ’25NOK 180.00
NOK 206.33
+14.63%
2.57%NOK 213.00NOK 200.00NOK 285.003
Dec ’24NOK 193.60
NOK 206.33
+6.58%
2.57%NOK 213.00NOK 200.00NOK 289.003
Nov ’24NOK 176.00
NOK 206.33
+17.23%
2.57%NOK 213.00NOK 200.00NOK 289.003
Oct ’24NOK 174.00
NOK 202.00
+16.09%
4.10%NOK 213.00NOK 193.00NOK 243.003
NOK 554
Fair Value
12.2% undervalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/06 02:33
End of Day Share Price 2025/10/03 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

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.

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

Protector Forsikring ASA is covered by 7 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Gianandrea RobertiCarnegie Investment Bank AB
Håkon AstrupDNB Carnegie
Simen AasDNB Carnegie