Himalaya Shipping Ltd.

OB:HSHP Stock Report

Market Cap: NOK 2.3b

Himalaya Shipping Valuation

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

Valuation Score

3/6

Valuation Score 3/6

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

Below Fair Value: HSHP (NOK54) is trading below our estimate of fair value (NOK313.84)

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

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for HSHP. This is calculated by dividing HSHP's market cap by their current earnings.
What is HSHP's PE Ratio?
PE Ratio8.5x
EarningsUS$24.63m
Market CapUS$204.89m

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for HSHP vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average9.2x
2020 2020 Bulkers
2.9x-33.6%NOK 2.8b
KCC Klaveness Combination Carriers
4x-17.8%NOK 4.5b
MPCC MPC Container Ships
3.3x-36.7%NOK 9.1b
FROY Frøy
26.7xn/aNOK 6.6b
HSHP Himalaya Shipping
8.5x33.7%NOK 2.4b

Price-To-Earnings vs Peers: HSHP is expensive based on its Price-To-Earnings Ratio (8.5x) compared to the peer average (3.4x).

Price to Earnings Ratio vs Industry

How does HSHP's PE Ratio compare vs other companies in the European Shipping Industry?

2 CompaniesPrice / EarningsEstimated GrowthMarket Cap
HSHP 8.5xIndustry Avg. 7.4xNo. of Companies6PE0612182430+
2 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: HSHP is expensive based on its Price-To-Earnings Ratio (8.5x) compared to the European Shipping industry average (7.4x).

Price to Earnings Ratio vs Fair Ratio

What is HSHP'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.

HSHP PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio8.5x
Fair PE Ratio9.1x

Price-To-Earnings vs Fair Ratio: HSHP is good value based on its Price-To-Earnings Ratio (8.5x) compared to the estimated Fair Price-To-Earnings Ratio (9.1x).

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 HSHP forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 54.00
NOK 105.07
+94.6%
22.2%NOK 121.61NOK 64.86n/a4
Dec ’25NOK 68.80
NOK 105.07
+52.7%
22.2%NOK 121.61NOK 64.86n/a4
Nov ’25NOK 72.30
NOK 103.89
+43.7%
22.2%NOK 121.06NOK 64.97n/a4
Oct ’25NOK 90.80
NOK 103.76
+14.3%
20.9%NOK 120.10NOK 67.26n/a4
Sep ’25NOK 80.00
NOK 102.22
+27.8%
19.8%NOK 119.88NOK 66.29n/a6
Aug ’25NOK 85.80
NOK 110.70
+29.0%
14.6%NOK 130.24NOK 85.72n/a6
Jul ’25NOK 96.10
NOK 110.15
+14.6%
14.1%NOK 129.71NOK 83.93n/a6
Jun ’25NOK 99.70
NOK 101.41
+1.7%
18.3%NOK 130.28NOK 79.68n/a5
May ’25NOK 90.20
NOK 97.36
+7.9%
11.0%NOK 116.15NOK 84.28n/a5
Apr ’25NOK 79.80
NOK 83.64
+4.8%
17.2%NOK 99.86NOK 60.44n/a4
Mar ’25NOK 86.00
NOK 84.32
-2.0%
16.9%NOK 100.02NOK 61.09n/a4
Feb ’25NOK 69.80
NOK 80.45
+15.3%
14.5%NOK 90.68NOK 60.86n/a4
Jan ’25NOK 68.00
NOK 71.99
+5.9%
12.4%NOK 83.46NOK 58.80n/a4
Dec ’24NOK 65.80
NOK 64.34
-2.2%
24.1%NOK 77.68NOK 38.04NOK 68.804
Nov ’24NOK 50.20
NOK 75.41
+50.2%
7.5%NOK 83.14NOK 69.90NOK 72.303
Oct ’24NOK 52.00
NOK 73.82
+42.0%
6.2%NOK 80.24NOK 70.56NOK 90.803
Sep ’24NOK 53.60
NOK 76.02
+41.8%
10.0%NOK 83.66NOK 68.39NOK 80.002
Aug ’24NOK 61.20
NOK 76.66
+25.3%
7.8%NOK 82.65NOK 70.68NOK 85.802
Jul ’24NOK 57.40
NOK 76.66
+33.6%
7.8%NOK 82.65NOK 70.68NOK 96.102
Jun ’24NOK 54.40
NOK 76.05
+39.8%
8.2%NOK 82.26NOK 69.84NOK 99.702

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/23 19:50
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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 here.

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 .

Analyst Sources

Himalaya Shipping Ltd. is covered by 5 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
Jørgen LianDNB Markets
Øystein VaagenFearnley Securities
Fredrik DybwadFearnley Securities