Stolt-Nielsen Valuation

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

SNI (NOK493) is trading below our estimate of [[fair value]] (NOK766.69)

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

Below Fair Value: SNI (NOK493) is trading below our estimate of fair value (NOK766.69)

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for SNI. This is calculated by dividing SNI's market cap by their current preferred multiple.
What is SNI's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	US$2.50b

SNI key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	1.5x
Enterprise Value/EBITDA	5.7x
PEG Ratio	1.5x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for SNI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PE	Estimated Growth	Market Cap
Peer Average	4.6x
HAUTO Höegh Autoliners	3.8x	-7.6%	NOK 23.8b
WAWI Wallenius Wilhelmsen	5x	5.9%	NOK 45.9b
WWI Wilh. Wilhelmsen Holding	3.5x	-7.3%	NOK 17.5b
ODF Odfjell	5.9x	5.6%	NOK 13.6b
SNI Stolt-Nielsen	8.3x	5.4%	NOK 26.4b

Price-To-Earnings vs Peers: SNI is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the peer average (4.6x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	1.1%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	1.1%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: SNI is expensive based on its Price-To-Earnings Ratio (8.3x) compared to the European Shipping industry average (7.2x).

Price to Earnings Ratio vs Fair Ratio

What is SNI'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.

SNI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	8.3x
Fair PE Ratio	9.7x

Price-To-Earnings vs Fair Ratio: SNI is good value based on its Price-To-Earnings Ratio (8.3x) compared to the estimated Fair Price-To-Earnings Ratio (9.7x).

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 SNI forecast and predictions for the stock price in 12 month’s time.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 493.00	NOK 519.84 +5.4%	5.7%	NOK 568.04	NOK 488.07	n/a	5
Jun ’25	NOK 484.50	NOK 510.52 +5.4%	5.5%	NOK 554.95	NOK 479.88	n/a	5
May ’25	NOK 475.00	NOK 530.52 +11.7%	4.5%	NOK 566.45	NOK 507.96	n/a	5
Apr ’25	NOK 400.00	NOK 493.37 +23.3%	1.9%	NOK 501.21	NOK 478.24	n/a	5
Mar ’25	NOK 393.00	NOK 483.43 +23.0%	2.3%	NOK 493.78	NOK 466.44	n/a	5
Feb ’25	NOK 405.00	NOK 455.14 +12.4%	6.4%	NOK 495.73	NOK 424.39	n/a	5
Jan ’25	NOK 311.50	NOK 443.19 +42.3%	2.8%	NOK 463.39	NOK 429.66	n/a	6
Dec ’24	NOK 315.50	NOK 443.19 +40.5%	2.8%	NOK 463.39	NOK 429.66	n/a	6
Nov ’24	NOK 364.00	NOK 443.19 +21.8%	2.8%	NOK 463.39	NOK 429.66	n/a	6
Oct ’24	NOK 310.00	NOK 414.02 +33.6%	4.7%	NOK 448.14	NOK 391.21	n/a	6
Sep ’24	NOK 276.00	NOK 412.65 +49.5%	4.6%	NOK 447.22	NOK 390.08	n/a	6
Aug ’24	NOK 256.00	NOK 406.93 +59.0%	4.4%	NOK 439.46	NOK 385.15	n/a	6
Jul ’24	NOK 273.00	NOK 419.09 +53.5%	5.4%	NOK 450.91	NOK 385.80	NOK 488.00	6
Jun ’24	NOK 281.00	NOK 431.10 +53.4%	5.3%	NOK 459.76	NOK 399.54	NOK 484.50	5
May ’24	NOK 307.50	NOK 413.81 +34.6%	3.0%	NOK 430.57	NOK 399.96	NOK 475.00	5
Apr ’24	NOK 333.00	NOK 405.89 +21.9%	5.3%	NOK 430.22	NOK 369.26	NOK 400.00	5
Mar ’24	NOK 318.00	NOK 374.22 +17.7%	6.2%	NOK 398.26	NOK 338.99	NOK 393.00	5
Feb ’24	NOK 275.00	NOK 333.47 +21.3%	7.7%	NOK 365.06	NOK 302.90	NOK 405.00	4
Jan ’24	NOK 269.50	NOK 296.23 +9.9%	9.2%	NOK 322.86	NOK 252.50	NOK 311.50	4
Dec ’23	NOK 257.50	NOK 305.76 +18.7%	8.7%	NOK 337.07	NOK 263.61	NOK 315.50	4
Nov ’23	NOK 252.00	NOK 317.54 +26.0%	8.6%	NOK 353.12	NOK 276.16	NOK 364.00	4
Oct ’23	NOK 217.50	NOK 301.72 +38.7%	6.5%	NOK 321.10	NOK 268.92	NOK 310.00	4
Sep ’23	NOK 216.00	NOK 245.64 +13.7%	21.9%	NOK 301.87	NOK 157.20	NOK 276.00	4
Aug ’23	NOK 204.50	NOK 245.64 +20.1%	21.9%	NOK 301.87	NOK 157.20	NOK 256.00	4
Jul ’23	NOK 195.60	NOK 240.53 +23.0%	22.0%	NOK 293.93	NOK 153.07	NOK 273.00	4

Analyst Forecast: Target price is less than 20% higher than the current share price.