Olav Thon Eiendomsselskap ASA

OB:OLT Stock Report

Market Cap: NOK 22.5b

Olav Thon Eiendomsselskap Valuation

Is OLT 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: OLT (NOK222) is trading below our estimate of fair value (NOK276.99)

Significantly Below Fair Value: OLT 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 OLT?

Key metric: As OLT is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for OLT. This is calculated by dividing OLT's market cap by their current revenue.
What is OLT's PS Ratio?
PS Ratio4.6x
SalesNOK 4.88b
Market CapNOK 22.53b

Price to Sales Ratio vs Peers

How does OLT's PS Ratio compare to its peers?

The above table shows the PS ratio for OLT vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average7.3x
ENTRA Entra
6.1x-1.5%NOK 20.9b
EISP Eiendomsspar
12.3xn/aNOK 13.3b
VIEI Victoria Eiendom
6.8xn/aNOK 8.9b
AURA Aurora Eiendom
4.1x1.6%NOK 2.4b
OLT Olav Thon Eiendomsselskap
4.6x1.9%NOK 22.5b

Price-To-Sales vs Peers: OLT is good value based on its Price-To-Sales Ratio (4.6x) compared to the peer average (7.3x).

Price to Sales Ratio vs Industry

How does OLT's PS Ratio compare vs other companies in the European Real Estate Industry?

64 CompaniesPrice / SalesEstimated GrowthMarket Cap
OLT 4.6xIndustry Avg. 4.9xNo. of Companies64PS03.26.49.612.816+
64 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: OLT is good value based on its Price-To-Sales Ratio (4.6x) compared to the European Real Estate industry average (4.9x).

Price to Sales Ratio vs Fair Ratio

What is OLT's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

OLT PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio4.6x
Fair PS Ratio5.1x

Price-To-Sales vs Fair Ratio: OLT is good value based on its Price-To-Sales Ratio (4.6x) compared to the estimated Fair Price-To-Sales Ratio (5.1x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Analyst Forecast: Insufficient data to show price forecast.

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