Storebrand ASA

OB:STB Stock Report

Market Cap: NOK 50.1b

Storebrand Valuation

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

Valuation Score

4/6

Valuation Score 4/6

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

Below Fair Value: STB (NOK114.5) is trading below our estimate of fair value (NOK266.11)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

STB 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/Revenue1.2x
Enterprise Value/EBITDA1.5x
PEG Ratio-2.9x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for STB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average11.4x
GJF Gjensidige Forsikring
23.2x14.7%NOK 94.6b
PROT Protector Forsikring
13.4x7.8%NOK 18.3b
966 China Taiping Insurance Holdings
6.2x11.2%HK$37.2b
LNC Lincoln National
3.1x-7.2%US$5.0b
STB Storebrand
11x-3.8%NOK 50.1b

Price-To-Earnings vs Peers: STB is good value based on its Price-To-Earnings Ratio (11x) compared to the peer average (11.4x).

Price to Earnings Ratio vs Industry

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

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.1%
 n/an/an/a
No. of CompaniesPE048121620

Fetching data

0 CompaniesPrice / EarningsEstimated GrowthMarket Cap
Industry Avg.n/a8.1%
 n/an/an/a
No more companies

Price-To-Earnings vs Industry: STB is expensive based on its Price-To-Earnings Ratio (11x) compared to the European Insurance industry average (11x).

Price to Earnings Ratio vs Fair Ratio

What is STB'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.

STB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio11x
Fair PE Ratio12.8x

Price-To-Earnings vs Fair Ratio: STB is good value based on its Price-To-Earnings Ratio (11x) compared to the estimated Fair Price-To-Earnings Ratio (12.8x).

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 STB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 114.50
NOK 114.67
+0.1%
10.9%NOK 129.00NOK 85.00n/a9
Aug ’25NOK 109.20
NOK 114.67
+5.0%
10.9%NOK 129.00NOK 85.00n/a9
Jul ’25NOK 109.20
NOK 113.56
+4.0%
10.6%NOK 127.00NOK 85.00n/a9
Jun ’25NOK 113.40
NOK 111.44
-1.7%
10.5%NOK 125.00NOK 85.00n/a9
May ’25NOK 106.90
NOK 111.44
+4.3%
10.5%NOK 125.00NOK 85.00n/a9
Apr ’25NOK 100.00
NOK 104.83
+4.8%
9.0%NOK 118.00NOK 85.00n/a9
Mar ’25NOK 95.40
NOK 104.83
+9.9%
9.0%NOK 118.00NOK 85.00n/a9
Feb ’25NOK 95.02
NOK 105.11
+10.6%
9.3%NOK 120.00NOK 85.00n/a9
Jan ’25NOK 90.04
NOK 103.56
+15.0%
9.2%NOK 119.00NOK 85.00n/a9
Dec ’24NOK 95.10
NOK 101.56
+6.8%
8.5%NOK 119.00NOK 85.00n/a9
Nov ’24NOK 91.90
NOK 100.00
+8.8%
10.3%NOK 115.00NOK 75.00n/a9
Oct ’24NOK 87.16
NOK 98.38
+12.9%
10.0%NOK 109.00NOK 75.00n/a8
Sep ’24NOK 85.76
NOK 98.38
+14.7%
10.0%NOK 109.00NOK 75.00NOK 114.408
Aug ’24NOK 88.38
NOK 99.00
+12.0%
9.9%NOK 109.00NOK 75.00NOK 109.208
Jul ’24NOK 83.66
NOK 99.00
+18.3%
9.9%NOK 109.00NOK 75.00NOK 109.208
Jun ’24NOK 80.64
NOK 98.78
+22.5%
9.3%NOK 109.00NOK 75.00NOK 113.409
May ’24NOK 82.04
NOK 98.89
+20.5%
9.5%NOK 110.00NOK 75.00NOK 106.909
Apr ’24NOK 80.32
NOK 98.78
+23.0%
9.3%NOK 109.00NOK 75.00NOK 100.009
Mar ’24NOK 87.12
NOK 98.78
+13.4%
9.3%NOK 109.00NOK 75.00NOK 95.409
Feb ’24NOK 86.86
NOK 97.44
+12.2%
9.7%NOK 109.00NOK 75.00NOK 95.029
Jan ’24NOK 85.40
NOK 96.89
+13.5%
9.8%NOK 109.00NOK 75.00NOK 90.049
Dec ’23NOK 88.06
NOK 93.89
+6.6%
9.6%NOK 109.00NOK 75.00NOK 95.109
Nov ’23NOK 81.24
NOK 93.56
+15.2%
9.1%NOK 106.00NOK 75.00NOK 91.909
Oct ’23NOK 75.46
NOK 95.25
+26.2%
8.9%NOK 105.00NOK 75.00NOK 87.168
Sep ’23NOK 79.54
NOK 94.71
+19.1%
9.5%NOK 105.00NOK 75.00NOK 85.767

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

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