Storebrand ASA

OB:STB Stock Report

Market Cap: NOK 75.4b

Storebrand Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 STB 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: STB (NOK178.9) is trading below our estimate of future cash flow value (NOK308.08)

Significantly Below Future Cash Flow Value: STB 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 STB?

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

The above table shows the Price to Earnings ratio for STB. This is calculated by dividing STB's market cap by their current earnings.
What is STB's PE Ratio?
PE Ratio15x
EarningsNOK 5.02b
Market CapNOK 75.43b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for STB vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average18.1x
GJF Gjensidige Forsikring
20.8x11.41%NOK 130.7b
PROT Protector Forsikring
15.6x-1.23%NOK 40.8b
8210 Bupa Arabia for Cooperative Insurance
24.9x15.96%ر.س26.9b
PRI Primerica
11x2.88%US$8.3b
STB Storebrand
15x4.31%NOK 75.4b

Price-To-Earnings vs Peers: STB is good value based on its Price-To-Earnings Ratio (15x) compared to the peer average (18.1x).

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 STB's PE Ratio compare vs other companies in the European Insurance Industry?

1 CompanyPrice / EarningsEstimated GrowthMarket Cap
STB 15.0xIndustry Avg. 13.1xNo. of Companies17PE0816243240+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: STB is expensive based on its Price-To-Earnings Ratio (15x) compared to the European Insurance industry average (13x).

Price to Earnings Ratio vs Fair Ratio

What is STB'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.

STB PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio15x
Fair PE Ratio16.1x

Price-To-Earnings vs Fair Ratio: STB is good value based on its Price-To-Earnings Ratio (15x) compared to the estimated Fair Price-To-Earnings Ratio (16.1x).

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 STB forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 178.90
NOK 175.63
-1.83%
16.83%NOK 201.00NOK 124.00n/a8
Apr ’27NOK 175.40
NOK 175.63
+0.13%
16.83%NOK 201.00NOK 124.00n/a8
Mar ’27NOK 180.20
NOK 175.88
-2.40%
16.92%NOK 201.00NOK 124.00n/a8
Feb ’27NOK 168.50
NOK 169.75
+0.74%
15.47%NOK 195.00NOK 124.00n/a8
Jan ’27NOK 172.70
NOK 163.75
-5.18%
15.13%NOK 194.00NOK 124.00n/a8
Dec ’26NOK 157.10
NOK 160.00
+1.85%
14.88%NOK 191.00NOK 117.00n/a8
Nov ’26NOK 157.10
NOK 157.75
+0.41%
17.88%NOK 191.00NOK 99.00n/a8
Oct ’26NOK 154.80
NOK 147.50
-4.72%
17.17%NOK 191.00NOK 99.00n/a8
Sep ’26NOK 153.20
NOK 139.25
-9.11%
15.45%NOK 165.00NOK 99.00n/a8
Aug ’26NOK 145.50
NOK 139.25
-4.30%
15.45%NOK 165.00NOK 99.00n/a8
Jul ’26NOK 142.70
NOK 133.22
-6.64%
14.24%NOK 155.00NOK 99.00n/a9
Jun ’26NOK 133.70
NOK 129.50
-3.14%
13.37%NOK 150.00NOK 99.00n/a8
May ’26NOK 124.90
NOK 127.00
+1.68%
13.86%NOK 150.00NOK 99.00n/a7
Apr ’26NOK 132.60
NOK 126.13
-4.88%
13.19%NOK 150.00NOK 99.00NOK 175.408
Mar ’26NOK 122.50
NOK 122.13
-0.31%
11.02%NOK 140.00NOK 99.00NOK 180.208
Feb ’26NOK 133.50
NOK 122.00
-8.61%
12.30%NOK 140.00NOK 99.00NOK 168.507
Jan ’26NOK 121.20
NOK 121.13
-0.062%
11.62%NOK 140.00NOK 99.00NOK 172.708
Dec ’25NOK 121.20
NOK 121.13
-0.062%
11.62%NOK 140.00NOK 99.00NOK 157.108
Nov ’25NOK 126.90
NOK 118.88
-6.32%
14.60%NOK 140.00NOK 85.00NOK 157.108
Oct ’25NOK 115.90
NOK 114.89
-0.87%
11.13%NOK 131.00NOK 85.00NOK 154.809
Sep ’25NOK 114.40
NOK 114.67
+0.23%
10.92%NOK 129.00NOK 85.00NOK 153.209
Aug ’25NOK 109.20
NOK 114.67
+5.01%
10.92%NOK 129.00NOK 85.00NOK 145.509
Jul ’25NOK 109.20
NOK 113.56
+3.99%
10.64%NOK 127.00NOK 85.00NOK 142.709
Jun ’25NOK 113.40
NOK 111.44
-1.72%
10.52%NOK 125.00NOK 85.00NOK 133.709
May ’25NOK 106.90
NOK 111.44
+4.25%
10.52%NOK 125.00NOK 85.00NOK 124.909
Apr ’25NOK 100.00
NOK 104.83
+4.83%
9.03%NOK 118.00NOK 85.00NOK 132.609
NOK 175.63
Fair Value
1.9% overvalued intrinsic discount
8
Number of Analysts

Analyst Forecast: Target price is lower than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/04/09 09:39
End of Day Share Price 2026/04/09 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

Storebrand ASA is covered by 19 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Tryfonas SpyrouBerenberg
David BarmaBofA Global Research