Magnora ASA

OB:MGN Stock Report

Market Cap: NOK 1.3b

Magnora Valuation

Is MGN 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-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

NOK 7.93
Fair Value
155.2% overvalued intrinsic discount
3
Number of Analysts

Below Fair Value: MGN (NOK20.25) is trading above our estimate of fair value (NOK7.93)

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

Key Valuation Metric

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

Key metric: As MGN is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for MGN. This is calculated by dividing MGN's market cap by their current revenue.
What is MGN's PS Ratio?
PS Ratio25.1x
SalesNOK 51.60m
Market CapNOK 1.29b

Price to Sales Ratio vs Peers

How does MGN's PS Ratio compare to its peers?

The above table shows the PS ratio for MGN vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.5x
CLOUD Cloudberry Clean Energy
10.7x18.55%NOK 4.1b
ENERG Energeia
1.3xn/aNOK 77.9m
SCATC Scatec
4.3x30.70%NOK 17.0b
MPCES MPC Energy Solutions
1.8x16.24%NOK 203.4m
MGN Magnora
25.1x53.82%NOK 1.3b

Price-To-Sales vs Peers: MGN is expensive based on its Price-To-Sales Ratio (25.1x) compared to the peer average (4.5x).

Price to Sales Ratio vs Industry

How does MGN's PS Ratio compare vs other companies in the European Renewable Energy Industry?

14 CompaniesPrice / SalesEstimated GrowthMarket Cap
MGN 25.1xIndustry Avg. 2.4xNo. of Companies14PS02.44.87.29.612+
14 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: MGN is expensive based on its Price-To-Sales Ratio (25.1x) compared to the European Renewable Energy industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is MGN's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

MGN PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio25.1x
Fair PS Ratio14.4x

Price-To-Sales vs Fair Ratio: MGN is expensive based on its Price-To-Sales Ratio (25.1x) compared to the estimated Fair Price-To-Sales Ratio (14.4x).

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 MGN forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 20.25
NOK 34.50
+70.39%
21.50%NOK 44.99NOK 28.92n/a3
Oct ’26NOK 21.65
NOK 36.79
+69.93%
16.87%NOK 45.10NOK 30.20n/a3
Sep ’26NOK 22.85
NOK 36.79
+61.00%
16.87%NOK 45.10NOK 30.20n/a3
Aug ’26NOK 23.25
NOK 36.79
+58.23%
16.87%NOK 45.10NOK 30.20n/a3
Jul ’26NOK 24.55
NOK 36.31
+47.90%
17.46%NOK 44.95NOK 29.90n/a3
Jun ’26NOK 24.55
NOK 36.74
+49.67%
17.00%NOK 45.09NOK 30.06n/a3
May ’26NOK 22.10
NOK 36.74
+66.26%
17.00%NOK 45.09NOK 30.06n/a3
Apr ’26NOK 22.75
NOK 38.87
+70.87%
8.19%NOK 43.12NOK 35.46n/a3
Mar ’26NOK 22.10
NOK 38.92
+76.11%
15.07%NOK 46.34NOK 31.99n/a3
Feb ’26NOK 26.35
NOK 38.64
+46.63%
14.31%NOK 45.74NOK 32.24n/a3
Jan ’26NOK 27.75
NOK 38.64
+39.23%
14.31%NOK 45.74NOK 32.24n/a3
Dec ’25NOK 25.05
NOK 38.55
+53.90%
14.31%NOK 45.63NOK 32.17n/a3
Nov ’25NOK 22.30
NOK 38.50
+72.67%
14.18%NOK 45.31NOK 31.95n/a3
Oct ’25NOK 23.90
NOK 40.96
+71.37%
7.33%NOK 45.01NOK 37.85NOK 21.653
Sep ’25NOK 24.00
NOK 40.96
+70.66%
7.33%NOK 45.01NOK 37.85NOK 22.853
Aug ’25NOK 32.90
NOK 40.96
+24.49%
7.33%NOK 45.01NOK 37.85NOK 23.253
Jul ’25NOK 27.25
NOK 40.79
+49.70%
5.80%NOK 43.78NOK 37.99NOK 24.553
Jun ’25NOK 34.30
NOK 42.11
+22.77%
3.36%NOK 43.23NOK 40.11NOK 24.553
May ’25NOK 30.55
NOK 43.26
+41.62%
5.32%NOK 45.02NOK 40.01NOK 22.103
Apr ’25NOK 30.75
NOK 43.52
+41.53%
7.53%NOK 47.83NOK 39.89NOK 22.753
Mar ’25NOK 30.00
NOK 43.54
+45.12%
7.30%NOK 47.69NOK 39.97NOK 22.103
Feb ’25NOK 29.50
NOK 43.25
+46.61%
5.11%NOK 46.14NOK 40.78NOK 26.353
Jan ’25NOK 33.00
NOK 43.25
+31.06%
5.11%NOK 46.14NOK 40.78NOK 27.753
Dec ’24NOK 30.90
NOK 43.25
+39.97%
5.11%NOK 46.14NOK 40.78NOK 25.053
Nov ’24NOK 32.60
NOK 44.21
+35.62%
5.94%NOK 47.93NOK 42.36NOK 22.303
Oct ’24NOK 36.30
NOK 42.97
+18.37%
8.85%NOK 48.34NOK 40.28NOK 23.903
NOK 34.5
Fair Value
41.3% undervalued intrinsic discount
3
Number of Analysts

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 Analysis2025/10/29 16:32
End of Day Share Price 2025/10/29 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

Magnora ASA is covered by 10 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
Chr. Frederik LundeCarnegie Investment Bank AB
Jørgen LandeDanske Bank
Eirik MathisenDNB Carnegie