Cadeler A/S

OB:CADLR Stock Report

Market Cap: NOK 18.9b

Cadeler Valuation

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

Valuation Score

6/6

Valuation Score 6/6

  • 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 Future Cash Flow Value

What is the Fair Price of CADLR 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: CADLR (NOK54) is trading below our estimate of future cash flow value (NOK184.98)

Significantly Below Future Cash Flow Value: CADLR 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 CADLR?

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

The above table shows the Price to Earnings ratio for CADLR. This is calculated by dividing CADLR's market cap by their current earnings.
What is CADLR's PE Ratio?
PE Ratio6x
Earnings€280.18m
Market Cap€1.69b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for CADLR vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16.5x
AFG AF Gruppen
17.4x5.30%NOK 19.0b
NORCO Norconsult
18.9x9.93%NOK 12.3b
VEI Veidekke
16.1x1.71%NOK 25.0b
IWS Integrated Wind Solutions
13.7x21.56%NOK 2.4b
CADLR Cadeler
6x7.50%NOK 18.9b

Price-To-Earnings vs Peers: CADLR is good value based on its Price-To-Earnings Ratio (6x) compared to the peer average (16.5x).

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 CADLR's PE Ratio compare vs other companies in the European Construction Industry?

5 CompaniesPrice / EarningsEstimated GrowthMarket Cap
CADLR 6.0xIndustry Avg. 14.9xNo. of Companies19PE01020304050+
5 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: CADLR is good value based on its Price-To-Earnings Ratio (6x) compared to the European Construction industry average (14.9x).

Price to Earnings Ratio vs Fair Ratio

What is CADLR'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.

CADLR PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio6x
Fair PE Ratio21x

Price-To-Earnings vs Fair Ratio: CADLR is good value based on its Price-To-Earnings Ratio (6x) compared to the estimated Fair Price-To-Earnings Ratio (21x).

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 CADLR forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 54.00
NOK 67.53
+25.05%
12.57%NOK 80.41NOK 54.79n/a5
Mar ’27NOK 61.50
NOK 67.05
+9.03%
10.35%NOK 78.07NOK 54.87n/a6
Feb ’27NOK 57.45
NOK 66.80
+16.28%
16.25%NOK 80.03NOK 44.63n/a6
Jan ’27NOK 48.04
NOK 66.60
+38.63%
17.81%NOK 80.55NOK 44.92n/a5
Dec ’26NOK 45.10
NOK 66.60
+47.66%
17.81%NOK 80.55NOK 44.92n/a5
Nov ’26NOK 47.00
NOK 83.69
+78.06%
4.77%NOK 89.89NOK 79.90n/a4
Oct ’26NOK 52.95
NOK 83.69
+58.05%
4.77%NOK 89.89NOK 79.90n/a4
Sep ’26NOK 51.95
NOK 83.69
+61.09%
4.77%NOK 89.89NOK 79.90n/a4
Aug ’26NOK 52.65
NOK 85.35
+62.10%
3.80%NOK 90.74NOK 82.46n/a4
Jul ’26NOK 52.00
NOK 84.12
+61.77%
4.69%NOK 90.86NOK 78.76n/a5
Jun ’26NOK 51.05
NOK 82.98
+62.55%
4.33%NOK 87.99NOK 77.96n/a5
May ’26NOK 54.10
NOK 85.29
+57.65%
5.37%NOK 90.13NOK 77.65n/a5
Apr ’26NOK 52.00
NOK 81.26
+56.28%
7.61%NOK 89.69NOK 69.11n/a7
Mar ’26NOK 51.50
NOK 81.08
+57.44%
7.42%NOK 89.46NOK 71.11NOK 61.507
Feb ’26NOK 60.20
NOK 81.77
+35.83%
7.32%NOK 90.48NOK 71.92NOK 57.457
Jan ’26NOK 63.70
NOK 82.78
+29.96%
8.53%NOK 92.05NOK 71.58NOK 48.047
Dec ’25NOK 67.80
NOK 82.78
+22.10%
8.53%NOK 92.05NOK 71.58NOK 45.107
Nov ’25NOK 74.00
NOK 81.38
+9.97%
7.66%NOK 93.03NOK 72.21NOK 47.007
Oct ’25NOK 75.70
NOK 82.07
+8.41%
7.02%NOK 92.02NOK 73.09NOK 52.957
Sep ’25NOK 70.30
NOK 79.59
+13.22%
7.16%NOK 89.68NOK 71.24NOK 51.957
Aug ’25NOK 71.10
NOK 74.89
+5.33%
8.07%NOK 87.06NOK 69.26NOK 52.657
Jul ’25NOK 67.60
NOK 74.89
+10.78%
8.07%NOK 87.06NOK 69.26NOK 52.007
Jun ’25NOK 65.50
NOK 70.85
+8.17%
13.37%NOK 87.04NOK 59.06NOK 51.057
May ’25NOK 52.80
NOK 64.69
+22.51%
8.76%NOK 71.45NOK 58.55NOK 54.106
Apr ’25NOK 53.10
NOK 64.26
+21.02%
8.09%NOK 71.94NOK 58.95NOK 52.006
Mar ’25NOK 46.40
NOK 64.01
+37.95%
8.95%NOK 72.58NOK 57.78NOK 51.506
NOK 67.53
Fair Value
20.0% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/03/29 10:29
End of Day Share Price 2026/03/27 00:00
Earnings2025/12/31
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 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

Cadeler A/S is covered by 9 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Mattias KarlkjellABG Sundal Collier
Daniel Vårdal HauglandABG Sundal Collier
Jørgen LandeDanske Bank