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NPRO

Norwegian PropertyOB:NPRO Stock Report

Market Cap

kr11.7b

7D

0%

1Y

62.2%

Updated

31 Aug, 2021

Data

Company Financials +
NPRO fundamental analysis
Snowflake Score
Valuation3/6
Future Growth0/6
Past Performance5/6
Financial Health1/6
Dividends0/6

NPRO Overview

Norwegian Property ASA acquires, develops, manages, and sells commercial real estate properties in Norway.

Price History & Performance

Summary of all time highs, changes and price drops for Norwegian Property
Historical stock prices
Current Share Pricekr18.25
52 Week Highkr10.70
52 Week Lowkr18.50
Beta0.63
1 Month Change0%
3 Month Change25.00%
1 Year Change62.22%
3 Year Change70.24%
5 Year Change65.91%
Change since IPO-63.13%

Recent News & Updates

Shareholder Returns

NPRONO Real EstateNO Market
7D0%-1.6%0.5%
1Y62.2%35.9%25.9%

Return vs Industry: NPRO exceeded the Norwegian Real Estate industry which returned 43.7% over the past year.

Return vs Market: NPRO exceeded the Norwegian Market which returned 28.8% over the past year.

Price Volatility

Is NPRO's price volatile compared to industry and market?
NPRO volatility
NPRO Beta0.63
Industry Beta0.92
Market Beta1

Stable Share Price: NPRO is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 7% a week.

Volatility Over Time: NPRO's weekly volatility (7%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
200557Bent Oustadhttps://www.norwegianproperty.no

Norwegian Property ASA acquires, develops, manages, and sells commercial real estate properties in Norway. The company’s properties primarily comprise office premises with associated warehousing and car parks, and retail and restaurant spaces. As of December 31, 2020, it owned 29 offices, and commercial and residential properties primarily in Oslo.

Norwegian Property Fundamentals Summary

How do Norwegian Property's earnings and revenue compare to its market cap?
NPRO fundamental statistics
Market Capkr11.75b
Earnings (TTM)kr2.46b
Revenue (TTM)kr874.40m

4.5x

P/E Ratio

12.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
NPRO income statement (TTM)
Revenuekr874.40m
Cost of Revenuekr100.50m
Gross Profitkr773.90m
Expenses-kr1.68b
Earningskr2.46b

Last Reported Earnings

Jun 30, 2021

Next Earnings Date

Oct 21, 2021

Earnings per share (EPS)4.02
Gross Margin88.51%
Net Profit Margin281.02%
Debt/Equity Ratio99.4%

How did NPRO perform over the long term?

See historical performance and comparison

Dividends

0.5%

Current Dividend Yield

2%

Payout Ratio

Valuation

Is Norwegian Property undervalued compared to its fair value and its price relative to the market?

4.53x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: NPRO (NOK18.25) is trading above our estimate of fair value (NOK5.75)

Significantly Below Fair Value: NPRO is trading above our estimate of fair value.


Price To Earnings Ratio

PE vs Industry: NPRO is good value based on its PE Ratio (4.5x) compared to the Norwegian Real Estate industry average (7.9x).

PE vs Market: NPRO is good value based on its PE Ratio (4.5x) compared to the Norwegian market (13.5x).


Price to Earnings Growth Ratio

PEG Ratio: NPRO's earnings are forecast to decline next year, so we can't calculate its PEG ratio.


Price to Book Ratio

PB vs Industry: NPRO is good value based on its PB Ratio (1x) compared to the NO Real Estate industry average (1.3x).


Future Growth

How is Norwegian Property forecast to perform in the next 1 to 3 years based on estimates from 1 analyst?

-65.9%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: NPRO's earnings are forecast to decline over the next 3 years (-65.9% per year).

Earnings vs Market: NPRO's earnings are forecast to decline over the next 3 years (-65.9% per year).

High Growth Earnings: NPRO's earnings are forecast to decline over the next 3 years.

Revenue vs Market: Insufficient data to determine if NPRO's revenue is forecast to grow faster than the Norwegian market.

High Growth Revenue: Insufficient data to determine if NPRO's revenue is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: NPRO's Return on Equity is forecast to be low in 3 years time (3.6%).


Past Performance

How has Norwegian Property performed over the past 5 years?

14.7%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: NPRO has a large one-off gain of NOK2.4B impacting its June 30 2021 financial results.

Growing Profit Margin: NPRO's current net profit margins are higher than last year (16.9%).


Past Earnings Growth Analysis

Earnings Trend: NPRO's earnings have grown by 14.7% per year over the past 5 years.

Accelerating Growth: NPRO's earnings growth over the past year (653.3%) exceeds its 5-year average (14.7% per year).

Earnings vs Industry: NPRO earnings growth over the past year (653.3%) exceeded the Real Estate industry 95.7%.


Return on Equity

High ROE: NPRO's Return on Equity (20.6%) is considered high.


Financial Health

How is Norwegian Property's financial position?


Financial Position Analysis

Short Term Liabilities: NPRO's short term assets (NOK311.5M) do not cover its short term liabilities (NOK1.3B).

Long Term Liabilities: NPRO's short term assets (NOK311.5M) do not cover its long term liabilities (NOK12.2B).


Debt to Equity History and Analysis

Debt Level: NPRO's debt to equity ratio (99.4%) is considered high.

Reducing Debt: NPRO's debt to equity ratio has reduced from 163.8% to 99.4% over the past 5 years.

Debt Coverage: NPRO's debt is not well covered by operating cash flow (3.3%).

Interest Coverage: NPRO's interest payments on its debt are not well covered by EBIT (2.4x coverage).


Balance Sheet


Dividend

What is Norwegian Property current dividend yield, its reliability and sustainability?

0.55%

Current Dividend Yield


Dividend Yield vs Market

Notable Dividend: NPRO's dividend (0.55%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (1.88%).

High Dividend: NPRO's dividend (0.55%) is low compared to the top 25% of dividend payers in the Norwegian market (5.28%).


Stability and Growth of Payments

Stable Dividend: NPRO is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are stable.

Growing Dividend: NPRO is not paying a notable dividend for the Norwegian market, therefore no need to check if payments are increasing.


Current Payout to Shareholders

Dividend Coverage: NPRO is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of NPRO's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

2.3yrs

Average management tenure


CEO

Bent Oustad (49 yo)

3.58yrs

Tenure

kr6,499,245

Compensation

Mr. Bent Oustad has been the Chief Executive Officer at Norwegian Property ASA since January 1, 2018. He served as Director of Bulk Infrastructure Holding AS and serves as its Deputy Director since Decembe...


CEO Compensation Analysis

Compensation vs Market: Bent's total compensation ($USD750.56K) is about average for companies of similar size in the Norwegian market ($USD582.45K).

Compensation vs Earnings: Bent's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: NPRO's management team is considered experienced (2.3 years average tenure).


Board Members

Experienced Board: NPRO's board of directors are considered experienced (4.3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: NPRO insiders have only sold shares in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 30.4%.


Top Shareholders

Company Information

Norwegian Property ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Norwegian Property ASA
  • Ticker: NPRO
  • Exchange: OB
  • Founded: 2005
  • Industry: Real Estate Operating Companies
  • Sector: Real Estate
  • Market Cap: kr11.745b
  • Shares outstanding: 643.58m
  • Website: https://www.norwegianproperty.no

Number of Employees


Location

  • Norwegian Property ASA
  • Støperigata 2
  • Oslo
  • Oslo
  • 250
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2021/08/31 16:28
End of Day Share Price2021/08/16 00:00
Earnings2021/06/30
Annual Earnings2020/12/31


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 here.