OTCPK:BNRP.F

Stock Analysis Report

Executive Summary

Solon Eiendom ASA acquires, develops, and sells residential real estate properties in Norway.


Snowflake Analysis

High growth potential with mediocre balance sheet.

Share Price & News

How has Solon Eiendom's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: BNRP.F has not had significant price volatility in the past 3 months.


Market Performance


7 Day Return

0%

BNRP.F

-10.1%

US Real Estate

-7.6%

US Market


1 Year Return

n/a

BNRP.F

0.5%

US Real Estate

10.2%

US Market

Return vs Industry: Insufficient data to determine how BNRP.F performed against the US Real Estate industry.

Return vs Market: Insufficient data to determine how BNRP.F performed against the US Market.


Shareholder returns

BNRP.FIndustryMarket
7 Day0%-10.1%-7.6%
30 Day0%-7.8%-4.5%
90 Day0%-2.8%-0.6%
1 Yearn/a1.2%0.5%12.5%10.2%
3 Year14650.0%14650.0%15.7%12.9%37.1%28.3%
5 Yearn/a6.1%2.6%60.8%43.2%

Price Volatility Vs. Market

How volatile is Solon Eiendom's share price compared to the market and industry in the last 5 years?


Simply Wall St News

No news available

Valuation

Is Solon Eiendom undervalued compared to its fair value and its price relative to the market?

34.69x

Price to Earnings (PE) ratio


Share Price vs. Fair Value

Below Fair Value: BNRP.F ($2.95) is trading above our estimate of fair value ($2.04)

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


Price To Earnings Ratio

PE vs Industry: BNRP.F is poor value based on its PE Ratio (34.7x) compared to the Real Estate industry average (25.3x).

PE vs Market: BNRP.F is poor value based on its PE Ratio (34.7x) compared to the US market (18.9x).


Price to Earnings Growth Ratio

PEG Ratio: BNRP.F is poor value based on its PEG Ratio (1.3x)


Price to Book Ratio

PB vs Industry: BNRP.F is overvalued based on its PB Ratio (2.6x) compared to the US Real Estate industry average (1.5x).


Next Steps

Future Growth

How is Solon Eiendom forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

26.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: BNRP.F's forecast earnings growth (26.8% per year) is above the savings rate (1.7%).

Earnings vs Market: BNRP.F's earnings (26.8% per year) are forecast to grow faster than the US market (14.3% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: BNRP.F's revenue (19.7% per year) is forecast to grow faster than the US market (7.5% per year).

High Growth Revenue: BNRP.F's revenue (19.7% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: BNRP.F's Return on Equity is forecast to be high in 3 years time (22.7%)


Next Steps

Past Performance

How has Solon Eiendom performed over the past 5 years?

25.0%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: BNRP.F has a high level of non-cash earnings.

Growing Profit Margin: BNRP.F's current net profit margins (5.7%) are lower than last year (14.7%).


Past Earnings Growth Analysis

Earnings Trend: BNRP.F's earnings have grown significantly by 25% per year over the past 5 years.

Accelerating Growth: BNRP.F's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: BNRP.F had negative earnings growth (-58.1%) over the past year, making it difficult to compare to the Real Estate industry average (-25%).


Return on Equity

High ROE: BNRP.F's Return on Equity (8.6%) is considered low.


Return on Assets


Return on Capital Employed


Next Steps

Financial Health

How is Solon Eiendom's financial position?


Financial Position Analysis

Short Term Liabilities: BNRP.F's short term assets (NOK3.6B) exceed its short term liabilities (NOK1.1B).

Long Term Liabilities: BNRP.F's short term assets (NOK3.6B) exceed its long term liabilities (NOK2.7B).


Debt to Equity History and Analysis

Debt Level: BNRP.F's debt to equity ratio (260.7%) is considered high.

Reducing Debt: Insufficient data to determine if BNRP.F's debt to equity ratio has reduced over the past 5 years.

Debt Coverage: BNRP.F's operating cash flow is negative, therefore debt is not well covered.

Interest Coverage: BNRP.F's interest payments on its debt are well covered by EBIT (3x coverage).


Balance Sheet

Inventory Level: BNRP.F has a high level of physical assets or inventory.

Debt Coverage by Assets: BNRP.F's debt is covered by short term assets (assets are 1.2x debt).


Next Steps

Dividend

What is Solon Eiendom's current dividend yield, its reliability and sustainability?

4.93%

Current Dividend Yield


Dividend Yield vs Market

company4.9%marketbottom25%1.5%markettop25%4.0%industryaverage2.4%forecastin3Years5.1%

Current dividend yield vs market & industry

Notable Dividend: BNRP.F's dividend (4.93%) is higher than the bottom 25% of dividend payers in the US market (1.4%).

High Dividend: BNRP.F's dividend (4.93%) is in the top 25% of dividend payers in the US market (3.66%)


Stability and Growth of Payments

Stable Dividend: Whilst dividend payments have been stable, BNRP.F has been paying a dividend for less than 10 years.

Growing Dividend: BNRP.F's dividend payments have increased, but the company has only paid a dividend for 3 years.


Current Payout to Shareholders

Dividend Coverage: With its high payout ratio (170.9%), BNRP.F's dividend payments are not well covered by earnings.


Future Payout to Shareholders

Future Dividend Coverage: BNRP.F's dividends in 3 years are forecast to be covered by earnings (50% payout ratio).


Next Steps

Management

How experienced are the management team and are they aligned to shareholders interests?

0.9yrs

Average management tenure


CEO

Stig Bech 0

0.9yrs

Tenure

0

Mr. Stig L. Bech has been Chief Executive Officer of Solon Eiendom ASA since 2019. 


Leadership Team

NamePositionTenureCompensationOwnership
Scott Danielsen
Chief Financial Officer2.8yrskr2.51m0.039% NOK124.7k
Stig Bech
Chief Executive Officer0.9yrsno datano data
Arne Post
Head of Group Accounting0.3yrsno data0.0062% NOK19.9k
Jannike Nilsen
Legal Director0.9yrsno datano data

0.9yrs

Average Tenure

Experienced Management: BNRP.F's management team is not considered experienced ( 0.9 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Edvin Austbø
Director0yrsno datano data
Runar Vatne
Director0yrsno data7.16% NOK23.1m
Øystein Landvik
Director0yrsno datano data
Simen Thorsen
Chairman of the Board0yrsno data19.7% NOK63.6m
Heidi Austbø
Director0yrsno datano data
Tore Voldberg
Director3yrsno data18.97% NOK61.3m
Bente Bøhler
Director3yrsno data0.043% NOK139.7k
Sofia Finneng
Director3yrsno datano data

3.0yrs

Average Tenure

Experienced Board: BNRP.F's board of directors are considered experienced (3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: BNRP.F insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 17.5%.


Top Shareholders

Company Information

Solon Eiendom ASA's company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Solon Eiendom ASA
  • Ticker: BNRP.F
  • Exchange: OTCPK
  • Founded: 2006
  • Industry: Real Estate Development
  • Sector: Real Estate
  • Market Cap: kr2.837b
  • Listing Market Cap: kr323.041m
  • Shares outstanding: 69.88m
  • Website: https://www.soloneiendom.no

Number of Employees


Location

  • Solon Eiendom ASA
  • Olav Vs gate 5
  • Oslo
  • Oslo
  • 161
  • Norway

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
NU5DB (Deutsche Boerse AG)YesOrdinary SharesDEEURDec 2016
SOLONOB (Oslo Bors)YesOrdinary SharesNONOKDec 2016
0MSGLSE (London Stock Exchange)YesOrdinary SharesGBNOKDec 2016
BNRP.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDDec 2016

Biography

Solon Eiendom ASA acquires, develops, and sells residential real estate properties in Norway. The company was formerly known as Bionor Pharma ASA and changed its name to Solon Eiendom ASA. The company was founded in 2006 and is headquartered in Oslo, Norway. 


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2019/12/31 00:33
End of Day Share Price2019/10/02 00:00
Earnings2019/09/30
Annual Earnings2018/12/31


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 here.