Magnora Valuation
Is MGN undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
6/6Valuation Score 6/6
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 MGN when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: MGN (NOK23.6) is trading below our estimate of fair value (NOK97.06)
Significantly Below Fair Value: MGN is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for MGN?
Key metric: As MGN is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.
| What is MGN's PE Ratio? | |
|---|---|
| PE Ratio | 5.3x |
| Earnings | NOK 288.60m |
| Market Cap | NOK 1.53b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 88.6x |
| Enterprise Value/EBITDA | -12.4x |
| PEG Ratio | -0.3x |
Price to Earnings Ratio vs Peers
How does MGN's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 14x | ||
SCATC Scatec | 6.5x | -39.4% | NOK 12.4b |
ELMRA Elmera Group | 17.7x | 17.1% | NOK 4.1b |
KEEN Kencana Energi Lestari | 10.9x | n/a | Rp2.3t |
TGE Thachang Green Energy | 20.9x | n/a | ฿5.1b |
MGN Magnora | 5.3x | -15.9% | NOK 1.5b |
Price-To-Earnings vs Peers: MGN is good value based on its Price-To-Earnings Ratio (5.3x) compared to the peer average (14x).
Price to Earnings Ratio vs Industry
How does MGN's PE Ratio compare vs other companies in the European Renewable Energy Industry?
| 1 Company | Price / Earnings | Estimated Growth | Market Cap |
|---|---|---|---|
| 1 Company | Estimated Growth | Market Cap | |
|---|---|---|---|
Price-To-Earnings vs Industry: MGN is good value based on its Price-To-Earnings Ratio (5.3x) compared to the European Renewable Energy industry average (16.4x).
Price to Earnings Ratio vs Fair Ratio
What is MGN'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 5.3x |
| Fair PE Ratio | 11.6x |
Price-To-Earnings vs Fair Ratio: MGN is good value based on its Price-To-Earnings Ratio (5.3x) compared to the estimated Fair Price-To-Earnings Ratio (11.6x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 23.60 | NOK 38.97 +65.1% | 14.6% | NOK 46.34 | NOK 32.54 | n/a | 3 |
| Nov ’25 | NOK 22.30 | NOK 38.72 +73.6% | 14.4% | NOK 45.77 | NOK 32.14 | n/a | 3 |
| Oct ’25 | NOK 23.90 | NOK 40.96 +71.4% | 7.3% | NOK 45.01 | NOK 37.85 | n/a | 3 |
| Sep ’25 | NOK 24.00 | NOK 40.96 +70.7% | 7.3% | NOK 45.01 | NOK 37.85 | n/a | 3 |
| Aug ’25 | NOK 32.90 | NOK 40.96 +24.5% | 7.3% | NOK 45.01 | NOK 37.85 | n/a | 3 |
| Jul ’25 | NOK 27.25 | NOK 40.79 +49.7% | 5.8% | NOK 43.78 | NOK 37.99 | n/a | 3 |
| Jun ’25 | NOK 34.30 | NOK 42.11 +22.8% | 3.4% | NOK 43.23 | NOK 40.11 | n/a | 3 |
| May ’25 | NOK 30.55 | NOK 43.26 +41.6% | 5.3% | NOK 45.02 | NOK 40.01 | n/a | 3 |
| Apr ’25 | NOK 30.75 | NOK 43.52 +41.5% | 7.5% | NOK 47.83 | NOK 39.89 | n/a | 3 |
| Mar ’25 | NOK 30.00 | NOK 43.54 +45.1% | 7.3% | NOK 47.69 | NOK 39.97 | n/a | 3 |
| Feb ’25 | NOK 29.50 | NOK 43.25 +46.6% | 5.1% | NOK 46.14 | NOK 40.78 | n/a | 3 |
| Jan ’25 | NOK 33.00 | NOK 43.25 +31.1% | 5.1% | NOK 46.14 | NOK 40.78 | n/a | 3 |
| Dec ’24 | NOK 30.90 | NOK 43.25 +40.0% | 5.1% | NOK 46.14 | NOK 40.78 | n/a | 3 |
| Nov ’24 | NOK 32.60 | NOK 44.21 +35.6% | 5.9% | NOK 47.93 | NOK 42.36 | NOK 22.30 | 3 |
| Oct ’24 | NOK 36.30 | NOK 42.97 +18.4% | 8.8% | NOK 48.34 | NOK 40.28 | NOK 23.90 | 3 |
| Sep ’24 | NOK 38.30 | NOK 42.97 +12.2% | 8.8% | NOK 48.34 | NOK 40.28 | NOK 24.00 | 3 |
| Aug ’24 | NOK 29.75 | NOK 41.77 +40.4% | 8.7% | NOK 46.88 | NOK 38.65 | NOK 32.90 | 3 |
| Jul ’24 | NOK 28.00 | NOK 41.77 +49.2% | 8.7% | NOK 46.88 | NOK 38.65 | NOK 27.25 | 3 |
| Jun ’24 | NOK 28.20 | NOK 46.54 +65.1% | 10.2% | NOK 51.27 | NOK 40.09 | NOK 34.30 | 3 |
| May ’24 | NOK 23.50 | NOK 43.51 +85.2% | 15.1% | NOK 49.98 | NOK 34.50 | NOK 30.55 | 3 |
| Apr ’24 | NOK 21.40 | NOK 43.51 +103.3% | 15.1% | NOK 49.98 | NOK 34.50 | NOK 30.75 | 3 |
| Mar ’24 | NOK 22.75 | NOK 47.52 +108.9% | 4.9% | NOK 49.84 | NOK 45.20 | NOK 30.00 | 2 |
| Feb ’24 | NOK 22.45 | NOK 47.77 +112.8% | 5.3% | NOK 50.29 | NOK 45.26 | NOK 29.50 | 2 |
| Jan ’24 | NOK 21.20 | NOK 47.77 +125.3% | 5.3% | NOK 50.29 | NOK 45.26 | NOK 33.00 | 2 |
| Dec ’23 | NOK 23.10 | NOK 47.77 +106.8% | 5.3% | NOK 50.29 | NOK 45.26 | NOK 30.90 | 2 |
| Nov ’23 | NOK 23.30 | NOK 48.58 +108.5% | 3.2% | NOK 50.15 | NOK 47.02 | NOK 32.60 | 2 |
Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.