Borregaard ASA

OB:BRG Stock Report

Market Cap: NOK 19.5b

Borregaard Valuation

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

Discounted Cash Flow
Simply Wall St
NOK 320.68
Fair Value
38.8% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: BRG (NOK196.2) is trading below our estimate of fair value (NOK320.68)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for BRG. This is calculated by dividing BRG's market cap by their current earnings.
What is BRG's PE Ratio?
PE Ratio23.7x
EarningsNOK 823.00m
Market CapNOK 19.53b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BRG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.4x
ELK Elkem
7.2x16.0%NOK 14.5b
ELO Elopak
15.2x10.4%NOK 10.7b
500710 Akzo Nobel India
34.2x9.5%₹146.9b
300641 Jiangsu Zhengdan Chemical Industry
17.1xn/aCN¥13.8b
BRG Borregaard
23.7x14.6%NOK 19.5b

Price-To-Earnings vs Peers: BRG is expensive based on its Price-To-Earnings Ratio (23.7x) compared to the peer average (18.4x).

Price to Earnings Ratio vs Industry

How does BRG's PE Ratio compare vs other companies in the European Chemicals Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
BRG 23.7xIndustry Avg. 18.5xNo. of Companies10PE01224364860+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BRG is expensive based on its Price-To-Earnings Ratio (23.7x) compared to the European Chemicals industry average (18.5x).

Price to Earnings Ratio vs Fair Ratio

What is BRG'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.

BRG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio23.7x
Fair PE Ratio14.8x

Price-To-Earnings vs Fair Ratio: BRG is expensive based on its Price-To-Earnings Ratio (23.7x) compared to the estimated Fair Price-To-Earnings Ratio (14.8x).

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 BRG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 196.20
NOK 233.40
+19.0%
5.3%NOK 252.00NOK 215.00n/a5
Feb ’26NOK 203.00
NOK 228.60
+12.6%
3.5%NOK 240.00NOK 215.00n/a5
Jan ’26NOK 182.40
NOK 225.75
+23.8%
1.7%NOK 230.00NOK 220.00n/a4
Dec ’25NOK 183.00
NOK 225.75
+23.4%
1.7%NOK 230.00NOK 220.00n/a4
Nov ’25NOK 188.80
NOK 226.00
+19.7%
1.7%NOK 230.00NOK 220.00n/a4
Oct ’25NOK 197.80
NOK 208.50
+5.4%
9.8%NOK 229.00NOK 175.00n/a4
Sep ’25NOK 197.20
NOK 208.50
+5.7%
9.8%NOK 229.00NOK 175.00n/a4
Aug ’25NOK 192.40
NOK 207.25
+7.7%
10.9%NOK 229.00NOK 170.00n/a4
Jul ’25NOK 191.40
NOK 211.00
+10.2%
12.7%NOK 244.00NOK 170.00n/a4
Jun ’25NOK 192.40
NOK 202.75
+5.4%
10.2%NOK 221.00NOK 170.00n/a4
May ’25NOK 190.40
NOK 202.75
+6.5%
10.2%NOK 221.00NOK 170.00n/a4
Apr ’25NOK 189.20
NOK 199.00
+5.2%
10.5%NOK 221.00NOK 165.00n/a4
Mar ’25NOK 185.80
NOK 199.00
+7.1%
10.5%NOK 221.00NOK 165.00n/a4
Feb ’25NOK 185.00
NOK 188.50
+1.9%
9.3%NOK 210.00NOK 165.00NOK 203.004
Jan ’25NOK 171.40
NOK 183.50
+7.1%
7.1%NOK 200.00NOK 165.00NOK 182.404
Dec ’24NOK 173.00
NOK 182.25
+5.3%
8.1%NOK 200.00NOK 160.00NOK 183.004
Nov ’24NOK 154.20
NOK 186.50
+20.9%
8.4%NOK 200.00NOK 160.00NOK 188.804
Oct ’24NOK 158.00
NOK 184.00
+16.5%
8.6%NOK 200.00NOK 160.00NOK 197.804
Sep ’24NOK 155.60
NOK 184.00
+18.3%
8.6%NOK 200.00NOK 160.00NOK 197.204
Aug ’24NOK 164.40
NOK 184.00
+11.9%
8.6%NOK 200.00NOK 160.00NOK 192.404
Jul ’24NOK 158.80
NOK 183.25
+15.4%
13.3%NOK 208.00NOK 145.00NOK 191.404
Jun ’24NOK 184.60
NOK 188.25
+2.0%
13.4%NOK 208.00NOK 145.00NOK 192.404
May ’24NOK 178.20
NOK 184.75
+3.7%
14.0%NOK 200.00NOK 140.00NOK 190.404
Apr ’24NOK 174.80
NOK 184.75
+5.7%
14.0%NOK 200.00NOK 140.00NOK 189.204
Mar ’24NOK 178.40
NOK 184.75
+3.6%
14.0%NOK 200.00NOK 140.00NOK 185.804
Feb ’24NOK 160.40
NOK 173.25
+8.0%
13.6%NOK 200.00NOK 140.00NOK 185.004
Analyst Price Target
Consensus Narrative from 5 Analysts
NOK 233.40
Fair Value
15.9% undervalued intrinsic discount
5
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 Analysis2025/02/16 13:39
End of Day Share Price 2025/02/14 00:00
Earnings2024/12/31
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

Borregaard ASA is covered by 8 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Andres Castanos-MollorBerenberg
Bent RollandBeringer Finance AB