2020 Bulkers Ltd.

OB:2020 Stock Report

Market Cap: NOK 3.2b

2020 Bulkers Valuation

Is 2020 undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

  • 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 2020 when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 2020 (NOK140.3) is trading above our estimate of fair value (NOK81.23)

Significantly Below Fair Value: 2020 is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 2020?

Key metric: As 2020 is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 2020. This is calculated by dividing 2020's market cap by their current earnings.
What is 2020's PE Ratio?
PE Ratio15.2x
EarningsUS$20.80m
Market CapUS$316.27m

Price to Earnings Ratio vs Peers

How does 2020's PE Ratio compare to its peers?

The above table shows the PE ratio for 2020 vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average12.6x
KCC Klaveness Combination Carriers
15x40.90%NOK 4.8b
FROY Frøy
26.7xn/aNOK 6.6b
MPCC MPC Container Ships
3x-47.95%NOK 7.7b
ODF Odfjell
5.8x10.68%NOK 9.8b
2020 2020 Bulkers
15.2x28.14%NOK 3.2b

Price-To-Earnings vs Peers: 2020 is expensive based on its Price-To-Earnings Ratio (15.2x) compared to the peer average (7.9x).

Price to Earnings Ratio vs Industry

How does 2020's PE Ratio compare vs other companies in the NO Shipping Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BULK GoodBulk
0.04xn/aUS$1.84m
AMSC AMSC
0.00001xn/aUS$709.47
No more companies available in this PE range
2020 15.2xIndustry Avg. 9.1xNo. of Companies4PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 2020 is expensive based on its Price-To-Earnings Ratio (15.2x) compared to the European Shipping industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

What is 2020'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.

2020 PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15.2x
Fair PE Ratio10.3x

Price-To-Earnings vs Fair Ratio: 2020 is expensive based on its Price-To-Earnings Ratio (15.2x) compared to the estimated Fair Price-To-Earnings Ratio (10.3x).

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 2020 forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 140.30
NOK 152.78
+8.89%
6.02%NOK 165.29NOK 143.47n/a3
Dec ’26NOK 143.90
NOK 152.18
+5.76%
6.07%NOK 164.76NOK 142.86n/a3
Nov ’26NOK 138.00
NOK 149.92
+8.64%
7.96%NOK 165.31NOK 136.21n/a3
Oct ’26NOK 134.00
NOK 148.92
+11.14%
8.27%NOK 164.91NOK 134.96n/a3
Sep ’26NOK 132.50
NOK 144.39
+8.97%
3.46%NOK 150.24NOK 138.03n/a3
Aug ’26NOK 126.10
NOK 136.39
+8.16%
10.66%NOK 147.96NOK 115.89n/a3
Jul ’26NOK 111.50
NOK 140.41
+25.93%
12.31%NOK 158.06NOK 111.75n/a4
Jun ’26NOK 120.90
NOK 140.52
+16.23%
12.31%NOK 158.24NOK 111.87n/a4
May ’26NOK 110.90
NOK 143.34
+29.25%
12.12%NOK 163.63NOK 116.02n/a4
Apr ’26NOK 113.20
NOK 147.22
+30.06%
11.87%NOK 166.88NOK 119.08n/a4
Mar ’26NOK 137.00
NOK 154.31
+12.63%
13.26%NOK 181.55NOK 124.63n/a4
Feb ’26NOK 125.70
NOK 173.83
+38.29%
13.90%NOK 197.45NOK 127.13n/a5
Jan ’26NOK 124.00
NOK 172.57
+39.17%
14.35%NOK 198.24NOK 125.34n/a5
Dec ’25NOK 128.20
NOK 172.57
+34.61%
14.35%NOK 198.24NOK 125.34NOK 143.905
Nov ’25NOK 132.80
NOK 175.55
+32.19%
14.51%NOK 201.77NOK 126.96NOK 138.005
Oct ’25NOK 155.20
NOK 172.34
+11.04%
16.69%NOK 200.17NOK 116.86NOK 134.005
Sep ’25NOK 136.70
NOK 169.26
+23.82%
16.69%NOK 195.76NOK 115.19NOK 132.506
Aug ’25NOK 146.00
NOK 182.59
+25.06%
11.81%NOK 202.65NOK 150.32NOK 126.106
Jul ’25NOK 156.50
NOK 182.72
+16.76%
10.87%NOK 203.25NOK 155.48NOK 111.506
Jun ’25NOK 163.50
NOK 171.16
+4.68%
11.22%NOK 199.98NOK 147.86NOK 120.905
May ’25NOK 172.60
NOK 171.90
-0.40%
7.53%NOK 187.86NOK 156.51NOK 110.905
Apr ’25NOK 149.30
NOK 161.10
+7.91%
12.64%NOK 177.29NOK 124.98NOK 113.205
Mar ’25NOK 153.30
NOK 157.80
+2.94%
12.96%NOK 174.72NOK 121.81NOK 137.005
Feb ’25NOK 141.00
NOK 148.66
+5.43%
15.02%NOK 173.90NOK 121.72NOK 125.705
Jan ’25NOK 121.50
NOK 126.68
+4.27%
8.27%NOK 142.14NOK 112.19NOK 124.006
Dec ’24NOK 123.70
NOK 122.28
-1.15%
15.95%NOK 144.40NOK 85.42NOK 128.206
NOK 152.78
Fair Value
8.2% 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 Analysis2025/12/15 22:46
End of Day Share Price 2025/12/15 00:00
Earnings2025/09/30
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

2020 Bulkers Ltd. is covered by 8 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
null nullABG Sundal Collier
Gregory LewisBTIG
Hans Rettedal ChristiansenDanske Bank