Magnora Valuation

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

MGN (NOK27.35) is trading below our estimate of [[fair value]] (NOK65.99)

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

Valuation Score

6/6

Valuation 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 (NOK27.35) is trading below our estimate of fair value (NOK65.99)

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?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for MGN. This is calculated by dividing MGN's market cap by their current preferred multiple.
What is MGN's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	NOK 1.80b

MGN 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	52.4x
Enterprise Value/EBITDA	-18.8x
PEG Ratio	0.7x

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for MGN 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	20.1x
CLOUD Cloudberry Clean Energy	20.9x	-38.5%	NOK 3.5b
SCATC Scatec	20.4x	-2.4%	NOK 13.8b
ELMRA Elmera Group	17.5x	12.7%	NOK 3.5b
NATEN Naturel Yenilenebilir Enerji Ticaret Anonim Sirketi	21.8x	n/a	₺8.0b
MGN Magnora	10.1x	14.2%	NOK 1.8b

Price-To-Earnings vs Peers: MGN is good value based on its Price-To-Earnings Ratio (10.1x) compared to the peer average (20.1x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	-6.7%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	-6.7%
	n/a	n/a	n/a

No more companies

Price-To-Earnings vs Industry: MGN is good value based on its Price-To-Earnings Ratio (10.1x) compared to the European Renewable Energy industry average (16.1x).

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.

MGN PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio	10.1x
Fair PE Ratio	28.4x

Price-To-Earnings vs Fair Ratio: MGN is good value based on its Price-To-Earnings Ratio (10.1x) compared to the estimated Fair Price-To-Earnings Ratio (28.4x).

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.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	NOK 27.35	NOK 40.81 +49.2%	5.6%	NOK 43.78	NOK 38.25	n/a	3
Jun ’25	NOK 34.30	NOK 42.07 +22.7%	3.6%	NOK 43.23	NOK 39.91	n/a	3
May ’25	NOK 30.55	NOK 43.29 +41.7%	5.4%	NOK 45.02	NOK 40.01	n/a	3
Apr ’25	NOK 30.75	NOK 43.55 +41.6%	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	n/a	3
Oct ’24	NOK 36.30	NOK 42.97 +18.4%	8.8%	NOK 48.34	NOK 40.28	n/a	3
Sep ’24	NOK 38.30	NOK 42.97 +12.2%	8.8%	NOK 48.34	NOK 40.28	n/a	3
Aug ’24	NOK 29.75	NOK 41.77 +40.4%	8.7%	NOK 46.88	NOK 38.65	n/a	3
Jul ’24	NOK 28.00	NOK 41.77 +49.2%	8.7%	NOK 46.88	NOK 38.65	NOK 27.35	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
Oct ’23	NOK 21.90	NOK 48.58 +121.8%	3.2%	NOK 50.15	NOK 47.02	NOK 36.30	2
Sep ’23	NOK 25.00	NOK 48.58 +94.3%	3.2%	NOK 50.15	NOK 47.02	NOK 38.30	2
Aug ’23	NOK 21.45	NOK 47.18 +119.9%	5.7%	NOK 49.86	NOK 44.49	NOK 29.75	2
Jul ’23	NOK 18.16	NOK 47.18 +159.8%	5.7%	NOK 49.86	NOK 44.49	NOK 28.00	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.