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BORGESTAD ASA (BOR.OL) Stock Fundamental Analysis

OSL:BOR - Euronext Oslo - NO0013256180 - Common Stock - Currency: NOK

17.55  -0.06 (-0.33%)

Fundamental Rating

4

BOR gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 13 industry peers in the Construction Materials industry. BOR may be in some trouble as it scores bad on both profitability and health. BOR has a valuation in line with the averages, but on the other hand it scores bad on growth.


Dividend Valuation Growth Profitability Health

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3

1. Profitability

1.1 Basic Checks

BOR had negative earnings in the past year.
BOR had a positive operating cash flow in the past year.
BOR had negative earnings in each of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: BOR reported negative operating cash flow in multiple years.
BOR.OL Yearly Net Income VS EBIT VS OCF VS FCFBOR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 100M -100M

1.2 Ratios

The Return On Assets of BOR (-0.60%) is worse than 66.67% of its industry peers.
BOR's Return On Equity of -1.26% is on the low side compared to the rest of the industry. BOR is outperformed by 66.67% of its industry peers.
BOR has a Return On Invested Capital (6.50%) which is in line with its industry peers.
BOR had an Average Return On Invested Capital over the past 3 years of 4.66%. This is below the industry average of 8.37%.
The 3 year average ROIC (4.66%) for BOR is below the current ROIC(6.50%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA -0.6%
ROE -1.26%
ROIC 6.5%
ROA(3y)-5.25%
ROA(5y)-6.06%
ROE(3y)-15.85%
ROE(5y)-22.63%
ROIC(3y)4.66%
ROIC(5y)3.39%
BOR.OL Yearly ROA, ROE, ROICBOR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 -10 -20 -30 -40 -50

1.3 Margins

The Operating Margin of BOR (9.09%) is comparable to the rest of the industry.
In the last couple of years the Operating Margin of BOR has grown nicely.
BOR has a better Gross Margin (66.98%) than 100.00% of its industry peers.
In the last couple of years the Gross Margin of BOR has declined.
Industry RankSector Rank
OM 9.09%
PM (TTM) N/A
GM 66.98%
OM growth 3Y125.85%
OM growth 5Y14.62%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.58%
GM growth 5Y-5.33%
BOR.OL Yearly Profit, Operating, Gross MarginsBOR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 20 40 60

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3

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), BOR is destroying value.
BOR has more shares outstanding than it did 1 year ago.
Compared to 5 years ago, BOR has more shares outstanding
BOR has a better debt/assets ratio than last year.
BOR.OL Yearly Shares OutstandingBOR.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 10M 20M 30M
BOR.OL Yearly Total Debt VS Total AssetsBOR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 500M 1B 1.5B

2.2 Solvency

BOR has an Altman-Z score of 1.67. This is a bad value and indicates that BOR is not financially healthy and even has some risk of bankruptcy.
Looking at the Altman-Z score, with a value of 1.67, BOR is doing worse than 66.67% of the companies in the same industry.
The Debt to FCF ratio of BOR is 4.65, which is a neutral value as it means it would take BOR, 4.65 years of fcf income to pay off all of its debts.
BOR has a Debt to FCF ratio (4.65) which is comparable to the rest of the industry.
BOR has a Debt/Equity ratio of 0.55. This is a neutral value indicating BOR is somewhat dependend on debt financing.
BOR has a Debt to Equity ratio of 0.55. This is in the lower half of the industry: BOR underperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF 4.65
Altman-Z 1.67
ROIC/WACC0.91
WACC7.12%
BOR.OL Yearly LT Debt VS Equity VS FCFBOR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 200M 400M 600M 800M

2.3 Liquidity

BOR has a Current Ratio of 1.73. This is a normal value and indicates that BOR is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.73, BOR perfoms like the industry average, outperforming 58.33% of the companies in the same industry.
BOR has a Quick Ratio of 1.30. This is a normal value and indicates that BOR is financially healthy and should not expect problems in meeting its short term obligations.
The Quick ratio of BOR (1.30) is better than 75.00% of its industry peers.
Industry RankSector Rank
Current Ratio 1.73
Quick Ratio 1.3
BOR.OL Yearly Current Assets VS Current LiabilitesBOR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M

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3

3. Growth

3.1 Past

BOR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -239.82%.
BOR shows a small growth in Revenue. In the last year, the Revenue has grown by 2.20%.
The Revenue has been growing slightly by 6.65% on average over the past years.
EPS 1Y (TTM)-239.82%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-77.33%
Revenue 1Y (TTM)2.2%
Revenue growth 3Y9.79%
Revenue growth 5Y6.65%
Sales Q2Q%-4.5%

3.2 Future

Based on estimates for the next years, BOR will show a very strong growth in Earnings Per Share. The EPS will grow by 30.63% on average per year.
BOR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 4.19% yearly.
EPS Next Y119.36%
EPS Next 2Y48.19%
EPS Next 3Y30.63%
EPS Next 5YN/A
Revenue Next Year4.34%
Revenue Next 2Y4.71%
Revenue Next 3Y4.19%
Revenue Next 5YN/A

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BOR.OL Yearly Revenue VS EstimatesBOR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 200M 400M 600M 800M 1B
BOR.OL Yearly EPS VS EstimatesBOR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 50 -50 -100

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6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BOR. In the last year negative earnings were reported.
A Price/Forward Earnings ratio of 10.31 indicates a reasonable valuation of BOR.
Based on the Price/Forward Earnings ratio, BOR is valued a bit cheaper than 75.00% of the companies in the same industry.
BOR is valuated cheaply when we compare the Price/Forward Earnings ratio to 22.10, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 10.31
BOR.OL Price Earnings VS Forward Price EarningsBOR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BOR is valued a bit cheaper than the industry average as 66.67% of the companies are valued more expensively.
Compared to the rest of the industry, the Price/Free Cash Flow ratio of BOR indicates a rather cheap valuation: BOR is cheaper than 91.67% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 6.03
EV/EBITDA 6.82
BOR.OL Per share dataBOR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

BOR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
A more expensive valuation may be justified as BOR's earnings are expected to grow with 30.63% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y48.19%
EPS Next 3Y30.63%

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6

5. Dividend

5.1 Amount

With a Yearly Dividend Yield of 4.54%, BOR is a good candidate for dividend investing.
BOR's Dividend Yield is rather good when compared to the industry average which is at 2.90. BOR pays more dividend than 100.00% of the companies in the same industry.
Compared to an average S&P500 Dividend Yield of 2.33, BOR pays a better dividend.
Industry RankSector Rank
Dividend Yield 4.54%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DPN/A
EPS Next 2Y48.19%
EPS Next 3Y30.63%
BOR.OL Yearly Income VS Free CF VS DividendBOR.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 0 50M -50M 100M -100M -150M

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BORGESTAD ASA

OSL:BOR (3/7/2025, 7:00:00 PM)

17.55

-0.06 (-0.33%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryConstruction Materials
Earnings (Last)02-14 2025-02-14/amc
Earnings (Next)05-14 2025-05-14
Inst Owners0.84%
Inst Owner ChangeN/A
Ins Owners4.32%
Ins Owner ChangeN/A
Market Cap615.30M
Analysts80
Price Target24.48 (39.49%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 4.54%
Yearly Dividend0
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-36.33%
Min EPS beat(2)-81.56%
Max EPS beat(2)8.91%
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)2
Avg Revenue beat(2)8.44%
Min Revenue beat(2)8.29%
Max Revenue beat(2)8.6%
Revenue beat(4)3
Avg Revenue beat(4)3.92%
Min Revenue beat(4)-3.48%
Max Revenue beat(4)8.6%
Revenue beat(8)6
Avg Revenue beat(8)8.96%
Revenue beat(12)N/A
Avg Revenue beat(12)N/A
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0%
EPS NY rev (1m)0%
EPS NY rev (3m)-58.63%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)0%
Revenue NY rev (1m)0%
Revenue NY rev (3m)2.61%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 10.31
P/S 0.54
P/FCF 6.03
P/OCF 5.23
P/B 0.85
P/tB 1.01
EV/EBITDA 6.82
EPS(TTM)-1.73
EYN/A
EPS(NY)1.7
Fwd EY9.7%
FCF(TTM)2.91
FCFY16.58%
OCF(TTM)3.36
OCFY19.12%
SpS32.76
BVpS20.73
TBVpS17.38
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -0.6%
ROE -1.26%
ROCE 8.64%
ROIC 6.5%
ROICexc 7.27%
ROICexgc 8.14%
OM 9.09%
PM (TTM) N/A
GM 66.98%
FCFM 8.88%
ROA(3y)-5.25%
ROA(5y)-6.06%
ROE(3y)-15.85%
ROE(5y)-22.63%
ROIC(3y)4.66%
ROIC(5y)3.39%
ROICexc(3y)5.16%
ROICexc(5y)3.73%
ROICexgc(3y)5.8%
ROICexgc(5y)4.16%
ROCE(3y)6.11%
ROCE(5y)4.44%
ROICexcg growth 3Y160.34%
ROICexcg growth 5Y28.94%
ROICexc growth 3Y156.78%
ROICexc growth 5Y27.58%
OM growth 3Y125.85%
OM growth 5Y14.62%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y-8.58%
GM growth 5Y-5.33%
F-Score5
Asset Turnover0.75
Health
Industry RankSector Rank
Debt/Equity 0.55
Debt/FCF 4.65
Debt/EBITDA 2.96
Cap/Depr N/A
Cap/Sales N/A
Interest Coverage 250
Cash Conversion 86.41%
Profit Quality N/A
Current Ratio 1.73
Quick Ratio 1.3
Altman-Z 1.67
F-Score5
WACC7.12%
ROIC/WACC0.91
Cap/Depr(3y)79.6%
Cap/Depr(5y)56.7%
Cap/Sales(3y)2.49%
Cap/Sales(5y)1.88%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-239.82%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-77.33%
EPS Next Y119.36%
EPS Next 2Y48.19%
EPS Next 3Y30.63%
EPS Next 5YN/A
Revenue 1Y (TTM)2.2%
Revenue growth 3Y9.79%
Revenue growth 5Y6.65%
Sales Q2Q%-4.5%
Revenue Next Year4.34%
Revenue Next 2Y4.71%
Revenue Next 3Y4.19%
Revenue Next 5YN/A
EBIT growth 1Y2.63%
EBIT growth 3Y147.97%
EBIT growth 5Y22.24%
EBIT Next Year249.4%
EBIT Next 3Y65.62%
EBIT Next 5YN/A
FCF growth 1Y218.53%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y236.67%
OCF growth 3YN/A
OCF growth 5YN/A