BW Energy Limited

OB:BWE Stock Report

Market Cap: NOK 13.6b

BW Energy Valuation

Is BWE 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 BWE 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: BWE (NOK54.5) is trading below our estimate of future cash flow value (NOK224.33)

Significantly Below Future Cash Flow Value: BWE 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 BWE?

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

The above table shows the Price to Earnings ratio for BWE. This is calculated by dividing BWE's market cap by their current earnings.
What is BWE's PE Ratio?
PE Ratio10.9x
EarningsUS$133.10m
Market CapUS$1.41b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BWE vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average50.4x
BNOR BlueNord
17x-0.30%NOK 13.3b
VAR Vår Energi
12.8x0.89%NOK 95.1b
PNOR PetroNor E&P
21.7xn/aNOK 1.5b
AKRBP Aker BP
150.2x29.77%NOK 192.3b
BWE BW Energy
10.9x32.90%NOK 13.6b

Price-To-Earnings vs Peers: BWE is good value based on its Price-To-Earnings Ratio (10.9x) compared to the peer average (51.2x).

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 BWE's PE Ratio compare vs other companies in the European Oil and Gas Industry?

11 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BWE 10.9xIndustry Avg. 14.6xNo. of Companies13PE0816243240+
11 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BWE is good value based on its Price-To-Earnings Ratio (10.9x) compared to the European Oil and Gas industry average (14.6x).

Price to Earnings Ratio vs Fair Ratio

What is BWE'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.

BWE PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio10.9x
Fair PE Ratio10.8x

Price-To-Earnings vs Fair Ratio: BWE is expensive based on its Price-To-Earnings Ratio (10.9x) compared to the estimated Fair Price-To-Earnings Ratio (10.8x).

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 BWE forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 54.50
NOK 52.45
-3.76%
13.57%NOK 59.76NOK 42.80n/a3
Feb ’27NOK 46.20
NOK 53.09
+14.90%
11.79%NOK 60.81NOK 45.48n/a3
Jan ’27NOK 47.05
NOK 53.34
+13.37%
11.81%NOK 61.18NOK 45.76n/a3
Dec ’26NOK 35.95
NOK 53.49
+48.78%
11.84%NOK 61.45NOK 45.96n/a3
Nov ’26NOK 38.75
NOK 52.98
+36.73%
11.74%NOK 60.41NOK 45.18n/a3
Oct ’26NOK 49.70
NOK 49.26
-0.88%
12.14%NOK 57.72NOK 45.01n/a3
Sep ’26NOK 35.50
NOK 48.95
+37.89%
12.72%NOK 57.74NOK 44.09n/a3
Aug ’26NOK 35.30
NOK 49.40
+39.93%
14.22%NOK 59.31NOK 43.94n/a3
Jul ’26NOK 35.60
NOK 48.31
+35.71%
13.40%NOK 57.46NOK 43.52n/a3
Jun ’26NOK 31.50
NOK 41.59
+32.02%
30.43%NOK 60.29NOK 27.44n/a4
May ’26NOK 27.10
NOK 34.91
+28.83%
17.93%NOK 44.79NOK 27.48n/a4
Apr ’26NOK 31.25
NOK 34.08
+9.07%
18.92%NOK 45.10NOK 28.83n/a4
Mar ’26NOK 25.95
NOK 34.06
+31.24%
11.22%NOK 40.02NOK 29.45NOK 51.804
Feb ’26NOK 26.20
NOK 34.86
+33.05%
11.77%NOK 40.77NOK 29.63NOK 46.204
Jan ’26NOK 23.55
NOK 35.86
+52.26%
13.72%NOK 41.07NOK 29.05NOK 47.054
Dec ’25NOK 22.25
NOK 35.86
+61.16%
13.72%NOK 41.07NOK 29.05NOK 35.954
Nov ’25NOK 22.95
NOK 36.79
+60.32%
15.88%NOK 43.59NOK 29.38NOK 38.754
Oct ’25NOK 23.35
NOK 37.55
+60.83%
16.90%NOK 44.29NOK 28.97NOK 49.704
Sep ’25NOK 26.80
NOK 37.28
+39.12%
13.66%NOK 42.97NOK 31.50NOK 35.504
Aug ’25NOK 30.65
NOK 38.79
+26.57%
11.66%NOK 43.50NOK 32.87NOK 35.304
Jul ’25NOK 31.30
NOK 36.25
+15.83%
9.44%NOK 40.30NOK 31.93NOK 35.603
Jun ’25NOK 33.60
NOK 35.24
+4.89%
11.32%NOK 39.71NOK 30.02NOK 31.503
May ’25NOK 29.10
NOK 33.53
+15.22%
10.22%NOK 38.37NOK 31.01NOK 27.103
Apr ’25NOK 26.65
NOK 32.54
+22.12%
9.52%NOK 36.91NOK 30.02NOK 31.253
Mar ’25NOK 27.05
NOK 34.58
+27.82%
7.63%NOK 37.24NOK 30.98NOK 25.953
NOK 52.45
Fair Value
3.9% overvalued intrinsic discount
3
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 Analysis2026/03/06 18:22
End of Day Share Price 2026/03/06 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

BW Energy Limited is covered by 7 analysts. 3 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
Christian YggesethDanske Bank
Steffen EvjenDanske Bank