Elmera Group ASA

OB:ELMRA Stock Report

Market Cap: NOK 5.1b

Elmera Group Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Future Cash Flow Value

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

Ultimate guide to DCF valuation for stock investing

Learn how to determine fair value like the best investors in the world.

Below Future Cash Flow Value: ELMRA (NOK46.7) is trading below our estimate of future cash flow value (NOK114.63)

Significantly Below Future Cash Flow Value: ELMRA is trading below future cash flow value by more than 20%.

Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for ELMRA. This is calculated by dividing ELMRA's market cap by their current earnings.
What is ELMRA's PE Ratio?
PE Ratio25.4x
EarningsNOK 201.31m
Market CapNOK 5.11b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for ELMRA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average17x
SKAND Skandia GreenPower
17.3xn/aNOK 194.7m
CLOUD Cloudberry Clean Energy
20.3x-31.08%NOK 4.0b
000037 Shenzhen Nanshan Power
28xn/aCN¥3.7b
FPH First Philippine Holdings
2.5xn/a₱39.5b
ELMRA Elmera Group
25.4x23.43%NOK 5.1b

Price-To-Earnings vs Peers: ELMRA is expensive based on its Price-To-Earnings Ratio (25.4x) compared to the peer average (17x).

Historical Price to Earnings Ratio

Historical Price to Earnings Ratio compares a stock's price to its earnings over time. Higher ratios indicate that investors are willing to pay more for the stock.

Fetching historical data

Price to Earnings Ratio vs Industry

How does ELMRA's PE Ratio compare vs other companies in the European Electric Utilities Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
ELMRA 25.4xIndustry Avg. 16.2xNo. of Companies17PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: ELMRA is expensive based on its Price-To-Earnings Ratio (25.4x) compared to the European Electric Utilities industry average (16.2x).

Price to Earnings Ratio vs Fair Ratio

What is ELMRA'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.

ELMRA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.4x
Fair PE Ratio41.2x

Price-To-Earnings vs Fair Ratio: ELMRA is good value based on its Price-To-Earnings Ratio (25.4x) compared to the estimated Fair Price-To-Earnings Ratio (41.2x).

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 ELMRA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 46.70
NOK 40.67
-12.92%
15.60%NOK 47.00NOK 32.00n/a3
Sep ’27NOK 45.75
NOK 40.67
-11.11%
15.60%NOK 47.00NOK 32.00n/a3
Aug ’27NOK 45.70
NOK 36.67
-19.77%
12.66%NOK 43.00NOK 32.00n/a3
Jul ’27NOK 46.15
NOK 36.67
-20.55%
12.66%NOK 43.00NOK 32.00n/a3
Jun ’27NOK 29.90
NOK 34.25
+14.55%
16.95%NOK 43.00NOK 27.00n/a4
May ’27NOK 34.70
NOK 35.00
+0.86%
16.78%NOK 43.00NOK 28.00n/a4
Apr ’27NOK 35.05
NOK 32.33
-7.75%
12.96%NOK 38.00NOK 28.00n/a3
Mar ’27NOK 33.10
NOK 32.00
-3.32%
14.21%NOK 38.00NOK 27.00n/a3
Feb ’27NOK 40.20
NOK 34.00
-15.42%
15.75%NOK 41.00NOK 28.00n/a3
Jan ’27NOK 38.40
NOK 34.00
-11.46%
15.75%NOK 41.00NOK 28.00n/a3
Dec ’26NOK 35.00
NOK 34.00
-2.86%
15.75%NOK 41.00NOK 28.00n/a3
Nov ’26NOK 32.60
NOK 34.67
+6.34%
20.03%NOK 41.00NOK 25.00n/a3
Oct ’26NOK 34.15
NOK 34.67
+1.51%
20.03%NOK 41.00NOK 25.00n/a3
Sep ’26NOK 33.75
NOK 34.67
+2.72%
20.03%NOK 41.00NOK 25.00NOK 45.753
Aug ’26NOK 34.10
NOK 34.33
+0.68%
17.20%NOK 39.00NOK 26.00NOK 45.703
Jul ’26NOK 34.50
NOK 34.33
-0.48%
17.20%NOK 39.00NOK 26.00NOK 46.153
Jun ’26NOK 33.50
NOK 33.67
+0.50%
20.34%NOK 39.00NOK 24.00NOK 29.903
May ’26NOK 36.90
NOK 31.67
-14.18%
17.55%NOK 37.00NOK 24.00NOK 34.703
Apr ’26NOK 34.90
NOK 31.67
-9.26%
17.55%NOK 37.00NOK 24.00NOK 35.053
Mar ’26NOK 32.40
NOK 31.67
-2.26%
17.55%NOK 37.00NOK 24.00NOK 33.103
Feb ’26NOK 30.50
NOK 36.00
+18.03%
23.57%NOK 42.00NOK 24.00NOK 40.203
Jan ’26NOK 38.20
NOK 36.00
-5.76%
23.57%NOK 42.00NOK 24.00NOK 38.403
Dec ’25NOK 39.50
NOK 36.00
-8.86%
23.57%NOK 42.00NOK 24.00NOK 35.003
Nov ’25NOK 33.50
NOK 31.67
-5.47%
24.37%NOK 39.00NOK 21.00NOK 32.603
Oct ’25NOK 33.95
NOK 31.67
-6.73%
24.37%NOK 39.00NOK 21.00NOK 34.153
Sep ’25NOK 33.20
NOK 32.33
-2.61%
21.03%NOK 39.00NOK 23.00NOK 33.753
NOK 40.67
Fair Value
14.8% overvalued intrinsic discount
3
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/21 03:52
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
Annual Earnings2025/12/31

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 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

Elmera Group ASA is covered by 5 analysts. 4 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
Ole WestgaardDNB Carnegie
Tarjei HatlenDNB Carnegie