Borregaard ASA

OB:BRG Stock Report

Market Cap: NOK 14.7b

Borregaard Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • 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 Fair Value

What is the Fair Price of BRG 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: BRG (NOK147.6) is trading below our estimate of future cash flow value (NOK310.29)

Significantly Below Future Cash Flow Value: BRG 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 BRG?

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

The above table shows the Price to Earnings ratio for BRG. This is calculated by dividing BRG's market cap by their current earnings.
What is BRG's PE Ratio?
PE Ratio87x
EarningsNOK 169.00m
Market CapNOK 14.71b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for BRG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average28.8x
ELK Elkem
45.5x74.75%NOK 12.7b
ELO Elopak
13.1x11.94%NOK 9.7b
YAR Yara International
8x-14.42%NOK 114.8b
NSKOG Norske Skog
48.4x30.90%NOK 4.6b
BRG Borregaard
87x55.84%NOK 14.7b

Price-To-Earnings vs Peers: BRG is expensive based on its Price-To-Earnings Ratio (87x) compared to the peer average (28.8x).

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 BRG's PE Ratio compare vs other companies in the European Chemicals Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BRG 87.0xIndustry Avg. 17.6xNo. of Companies12PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BRG is expensive based on its Price-To-Earnings Ratio (87x) compared to the European Chemicals industry average (17.6x).

Price to Earnings Ratio vs Fair Ratio

What is BRG'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.

BRG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio87x
Fair PE Ratio43.9x

Price-To-Earnings vs Fair Ratio: BRG is expensive based on its Price-To-Earnings Ratio (87x) compared to the estimated Fair Price-To-Earnings Ratio (43.9x).

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 BRG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 147.60
NOK 176.25
+19.41%
5.06%NOK 190.00NOK 165.00n/a4
Sep ’27NOK 155.80
NOK 178.20
+14.38%
7.16%NOK 196.00NOK 165.00n/a5
Aug ’27NOK 158.00
NOK 178.20
+12.78%
7.16%NOK 196.00NOK 165.00n/a5
Jul ’27NOK 149.00
NOK 174.00
+16.78%
6.69%NOK 196.00NOK 160.00n/a6
Jun ’27NOK 140.60
NOK 183.80
+30.73%
11.75%NOK 220.00NOK 160.00n/a5
May ’27NOK 152.40
NOK 186.80
+22.57%
10.15%NOK 220.00NOK 170.00n/a5
Apr ’27NOK 175.20
NOK 200.00
+14.16%
10.73%NOK 240.00NOK 175.00n/a5
Mar ’27NOK 176.80
NOK 200.00
+13.12%
10.73%NOK 240.00NOK 175.00n/a5
Feb ’27NOK 193.80
NOK 218.00
+12.49%
5.50%NOK 240.00NOK 207.00n/a5
Jan ’27NOK 199.40
NOK 212.50
+6.57%
6.67%NOK 230.00NOK 192.00n/a4
Dec ’26NOK 192.00
NOK 212.50
+10.68%
6.67%NOK 230.00NOK 192.00n/a4
Nov ’26NOK 192.00
NOK 212.50
+10.68%
6.67%NOK 230.00NOK 192.00n/a4
Oct ’26NOK 192.60
NOK 216.50
+12.41%
5.17%NOK 230.00NOK 199.00n/a4
Sep ’26NOK 206.00
NOK 217.50
+5.58%
5.23%NOK 230.00NOK 199.00NOK 155.804
Aug ’26NOK 197.60
NOK 217.50
+10.07%
5.23%NOK 230.00NOK 199.00NOK 158.004
Jul ’26NOK 199.40
NOK 220.00
+10.33%
4.82%NOK 230.00NOK 205.00NOK 149.004
Jun ’26NOK 187.40
NOK 229.25
+22.33%
7.26%NOK 252.00NOK 205.00NOK 140.604
May ’26NOK 178.40
NOK 235.50
+32.01%
4.05%NOK 252.00NOK 230.00NOK 152.404
Apr ’26NOK 169.60
NOK 238.00
+40.33%
3.80%NOK 252.00NOK 230.00NOK 175.204
Mar ’26NOK 186.40
NOK 238.00
+27.68%
3.80%NOK 252.00NOK 230.00NOK 176.804
Feb ’26NOK 203.00
NOK 232.00
+14.29%
2.02%NOK 240.00NOK 228.00NOK 193.804
Jan ’26NOK 182.40
NOK 225.75
+23.77%
1.67%NOK 230.00NOK 220.00NOK 199.404
Dec ’25NOK 183.00
NOK 225.75
+23.36%
1.67%NOK 230.00NOK 220.00NOK 192.004
Nov ’25NOK 188.80
NOK 226.00
+19.70%
1.74%NOK 230.00NOK 220.00NOK 192.004
Oct ’25NOK 197.80
NOK 208.50
+5.41%
9.82%NOK 229.00NOK 175.00NOK 192.604
Sep ’25NOK 197.20
NOK 208.50
+5.73%
9.82%NOK 229.00NOK 175.00NOK 206.004
NOK 176.25
Fair Value
16.3% undervalued intrinsic discount
4
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/09/20 00:30
End of Day Share Price 2026/09/18 00:00
Earnings2026/06/30
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 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

Borregaard ASA is covered by 6 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
Sebastian BrayBerenberg
Andres Castanos-MollorBerenberg