PETRONOR E&P ASA (PNOR.OL) Fundamental Analysis & Valuation

OSL:PNOR • NO0012942525

10.38 NOK
-0.12 (-1.14%)
Last: Mar 5, 2026, 04:12 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Forecast Earnings Financials Ownership

This PNOR.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

Fundamental Rating

7

Overall PNOR gets a fundamental rating of 7 out of 10. We evaluated PNOR against 71 industry peers in the Oil, Gas & Consumable Fuels industry. PNOR has outstanding health and profitabily ratings, belonging to the best of the industry. This is a solid base for any company. PNOR is valued quite cheap, but it does not seem to be growing. This makes PNOR very considerable for value investing!


Dividend Valuation Growth Profitability Health

7

1. PNOR.OL Profitability Analysis

1.1 Basic Checks

  • In the past year PNOR was profitable.
  • PNOR had a positive operating cash flow in the past year.
  • PNOR had positive earnings in each of the past 5 years.
  • Of the past 5 years PNOR 4 years had a positive operating cash flow.
PNOR.OL Yearly Net Income VS EBIT VS OCF VS FCFPNOR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M

1.2 Ratios

  • The Return On Assets of PNOR (7.00%) is better than 78.87% of its industry peers.
  • PNOR's Return On Equity of 10.40% is in line compared to the rest of the industry. PNOR outperforms 57.75% of its industry peers.
  • PNOR has a Return On Invested Capital of 16.51%. This is amongst the best in the industry. PNOR outperforms 92.96% of its industry peers.
  • PNOR had an Average Return On Invested Capital over the past 3 years of 25.97%. This is significantly above the industry average of 9.02%.
  • The 3 year average ROIC (25.97%) for PNOR is well above the current ROIC(16.51%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA 7%
ROE 10.4%
ROIC 16.51%
ROA(3y)18.05%
ROA(5y)13.4%
ROE(3y)28.54%
ROE(5y)27.26%
ROIC(3y)25.97%
ROIC(5y)29.21%
PNOR.OL Yearly ROA, ROE, ROICPNOR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -100 -200

1.3 Margins

  • The Profit Margin of PNOR (12.53%) is better than 67.61% of its industry peers.
  • In the last couple of years the Profit Margin of PNOR has grown nicely.
  • The Operating Margin of PNOR (48.48%) is better than 97.18% of its industry peers.
  • PNOR's Operating Margin has been stable in the last couple of years.
  • PNOR has a Gross Margin of 57.67%. This is in the better half of the industry: PNOR outperforms 63.38% of its industry peers.
  • In the last couple of years the Gross Margin of PNOR has declined.
Industry RankSector Rank
OM 48.48%
PM (TTM) 12.53%
GM 57.67%
OM growth 3Y-9.51%
OM growth 5Y-1.13%
PM growth 3Y12.45%
PM growth 5YN/A
GM growth 3Y-10.4%
GM growth 5Y-5.31%
PNOR.OL Yearly Profit, Operating, Gross MarginsPNOR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 -20M -40M -60M -80M

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10

2. PNOR.OL Health Analysis

2.1 Basic Checks

  • PNOR has a Return on Invested Capital (ROIC), which is well above the Cost of Capital (WACC), which means it is creating value.
  • Compared to 1 year ago, PNOR has about the same amount of shares outstanding.
  • Compared to 5 years ago, PNOR has less shares outstanding
  • PNOR has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
PNOR.OL Yearly Shares OutstandingPNOR.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M 800M
PNOR.OL Yearly Total Debt VS Total AssetsPNOR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M

2.2 Solvency

  • An Altman-Z score of 3.94 indicates that PNOR is not in any danger for bankruptcy at the moment.
  • PNOR has a Altman-Z score of 3.94. This is amongst the best in the industry. PNOR outperforms 83.10% of its industry peers.
  • There is no outstanding debt for PNOR. This means it has a Debt/Equity and Debt/FCF ratio of 0 and it is amongst the best of the sector and industry.
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Altman-Z 3.94
ROIC/WACC1.93
WACC8.57%
PNOR.OL Yearly LT Debt VS Equity VS FCFPNOR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 50M 100M 150M

2.3 Liquidity

  • PNOR has a Current Ratio of 4.91. This indicates that PNOR is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of PNOR (4.91) is better than 92.96% of its industry peers.
  • A Quick Ratio of 4.01 indicates that PNOR has no problem at all paying its short term obligations.
  • The Quick ratio of PNOR (4.01) is better than 90.14% of its industry peers.
Industry RankSector Rank
Current Ratio 4.91
Quick Ratio 4.01
PNOR.OL Yearly Current Assets VS Current LiabilitesPNOR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 50M 100M 150M

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3

3. PNOR.OL Growth Analysis

3.1 Past

  • PNOR shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -81.10%.
  • Measured over the past years, PNOR shows a very strong growth in Earnings Per Share. The EPS has been growing by 38.60% on average per year.
  • Looking at the last year, PNOR shows a very negative growth in Revenue. The Revenue has decreased by -61.56% in the last year.
  • PNOR shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 14.76% yearly.
EPS 1Y (TTM)-81.1%
EPS 3Y38.6%
EPS 5YN/A
EPS Q2Q%-58.33%
Revenue 1Y (TTM)-61.56%
Revenue growth 3Y24.31%
Revenue growth 5Y14.76%
Sales Q2Q%-79.4%

3.2 Future

  • Based on estimates for the next years, PNOR will show a very negative growth in Earnings Per Share. The EPS will decrease by -41.61% on average per year.
  • Based on estimates for the next years, PNOR will show a very negative growth in Revenue. The Revenue will decrease by -20.47% on average per year.
EPS Next Y-25%
EPS Next 2Y-41.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year-15.06%
Revenue Next 2Y-20.47%
Revenue Next 3YN/A
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
  • 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.
PNOR.OL Yearly Revenue VS EstimatesPNOR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 50M 100M 150M 200M
PNOR.OL Yearly EPS VS EstimatesPNOR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.2 0.4

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8

4. PNOR.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 9.19, the valuation of PNOR can be described as reasonable.
  • PNOR's Price/Earnings ratio is rather cheap when compared to the industry. PNOR is cheaper than 92.96% of the companies in the same industry.
  • PNOR's Price/Earnings ratio indicates a rather cheap valuation when compared to the S&P500 average which is at 27.03.
  • PNOR is valuated cheaply with a Price/Forward Earnings ratio of 7.03.
  • PNOR's Price/Forward Earnings ratio is rather cheap when compared to the industry. PNOR is cheaper than 95.77% of the companies in the same industry.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 25.11, PNOR is valued rather cheaply.
Industry RankSector Rank
PE 9.19
Fwd PE 7.03
PNOR.OL Price Earnings VS Forward Price EarningsPNOR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 5 10 15 20 25

4.2 Price Multiples

  • PNOR's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. PNOR is cheaper than 97.18% of the companies in the same industry.
  • Compared to the rest of the industry, the Price/Free Cash Flow ratio of PNOR indicates a rather cheap valuation: PNOR is cheaper than 98.59% of the companies listed in the same industry.
Industry RankSector Rank
P/FCF 2.35
EV/EBITDA 1.2
PNOR.OL Per share dataPNOR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 2 4 6 8

4.3 Compensation for Growth

  • PNOR has a very decent profitability rating, which may justify a higher PE ratio.
  • A cheap valuation may be justified as PNOR's earnings are expected to decrease with -41.61% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y-41.61%
EPS Next 3YN/A

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

0

5. PNOR.OL Dividend Analysis

5.1 Amount

  • PNOR does not give a dividend.
Industry RankSector Rank
Dividend Yield 0%

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PNOR.OL Fundamentals: All Metrics, Ratios and Statistics

PETRONOR E&P ASA

OSL:PNOR (3/5/2026, 4:12:58 PM)

10.38

-0.12 (-1.14%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)02-20
Earnings (Next)N/A
Inst Owners2.83%
Inst Owner ChangeN/A
Ins Owners1.94%
Ins Owner ChangeN/A
Market Cap1.48B
Revenue(TTM)121.65M
Net Income(TTM)15.24M
Analysts82.86
Price Target13.26 (27.75%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
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)N/A
Avg Revenue beat(2)N/A
Min Revenue beat(2)N/A
Max Revenue beat(2)N/A
Revenue beat(4)N/A
Avg Revenue beat(4)N/A
Min Revenue beat(4)N/A
Max Revenue beat(4)N/A
Revenue beat(8)N/A
Avg Revenue beat(8)N/A
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)N/A
EPS NQ rev (3m)N/A
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)N/A
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)0%
Revenue NY rev (3m)0%
Valuation
Industry RankSector Rank
PE 9.19
Fwd PE 7.03
P/S 1.26
P/FCF 2.35
P/OCF 2.05
P/B 1.05
P/tB 1.11
EV/EBITDA 1.2
EPS(TTM)1.13
EY10.89%
EPS(NY)1.48
Fwd EY14.22%
FCF(TTM)4.41
FCFY42.53%
OCF(TTM)5.06
OCFY48.72%
SpS8.24
BVpS9.93
TBVpS9.37
PEG (NY)N/A
PEG (5Y)N/A
Graham Number15.89
Profitability
Industry RankSector Rank
ROA 7%
ROE 10.4%
ROCE 29.29%
ROIC 16.51%
ROICexc 23.62%
ROICexgc 25.11%
OM 48.48%
PM (TTM) 12.53%
GM 57.67%
FCFM 53.55%
ROA(3y)18.05%
ROA(5y)13.4%
ROE(3y)28.54%
ROE(5y)27.26%
ROIC(3y)25.97%
ROIC(5y)29.21%
ROICexc(3y)33.15%
ROICexc(5y)39.25%
ROICexgc(3y)39.5%
ROICexgc(5y)46.11%
ROCE(3y)47.13%
ROCE(5y)55.34%
ROICexgc growth 3Y-21.92%
ROICexgc growth 5Y-46.42%
ROICexc growth 3Y-20.01%
ROICexc growth 5Y-37.94%
OM growth 3Y-9.51%
OM growth 5Y-1.13%
PM growth 3Y12.45%
PM growth 5YN/A
GM growth 3Y-10.4%
GM growth 5Y-5.31%
F-Score5
Asset Turnover0.56
Health
Industry RankSector Rank
Debt/Equity 0
Debt/FCF 0
Debt/EBITDA 0
Cap/Depr 48.99%
Cap/Sales 7.79%
Interest Coverage 1156.51
Cash Conversion 95.27%
Profit Quality 427.37%
Current Ratio 4.91
Quick Ratio 4.01
Altman-Z 3.94
F-Score5
WACC8.57%
ROIC/WACC1.93
Cap/Depr(3y)235.93%
Cap/Depr(5y)264.03%
Cap/Sales(3y)18.03%
Cap/Sales(5y)16.94%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-81.1%
EPS 3Y38.6%
EPS 5YN/A
EPS Q2Q%-58.33%
EPS Next Y-25%
EPS Next 2Y-41.61%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)-61.56%
Revenue growth 3Y24.31%
Revenue growth 5Y14.76%
Sales Q2Q%-79.4%
Revenue Next Year-15.06%
Revenue Next 2Y-20.47%
Revenue Next 3YN/A
Revenue Next 5YN/A
EBIT growth 1Y-65.91%
EBIT growth 3Y12.49%
EBIT growth 5Y13.46%
EBIT Next Year-7.92%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y151.29%
FCF growth 3YN/A
FCF growth 5Y9.26%
OCF growth 1Y13.92%
OCF growth 3Y50.47%
OCF growth 5Y7.36%

PETRONOR E&P ASA / PNOR.OL FAQ

What is the fundamental rating for PNOR stock?

ChartMill assigns a fundamental rating of 7 / 10 to PNOR.OL.


What is the valuation status for PNOR stock?

ChartMill assigns a valuation rating of 8 / 10 to PETRONOR E&P ASA (PNOR.OL). This can be considered as Undervalued.


What is the profitability of PNOR stock?

PETRONOR E&P ASA (PNOR.OL) has a profitability rating of 7 / 10.


What is the earnings growth outlook for PETRONOR E&P ASA?

The Earnings per Share (EPS) of PETRONOR E&P ASA (PNOR.OL) is expected to decline by -25% in the next year.


Is the dividend of PETRONOR E&P ASA sustainable?

The dividend rating of PETRONOR E&P ASA (PNOR.OL) is 0 / 10 and the dividend payout ratio is 0%.