B

Borgestad ASA
OSE:BOR

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Borgestad ASA
OSE:BOR
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Price: 16.8 NOK -0.3%
Market Cap: kr589m

EV/EBIT

10.2
Current
2%
Cheaper
vs 3-y average of 10.4

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.2
=
Enterprise Value
kr953.8m
/
EBIT
kr89.2m

Enterprise Value to EBIT (EV/EBIT) ratio compares a company`s total enterprise value to its earnings before interest and taxes. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBIT
10.2
=
Enterprise Value
kr953.8m
/
EBIT
kr89.2m

Valuation Scenarios

Borgestad ASA is trading below its 3-year average

If EV/EBIT returns to its 3-Year Average (10.4), the stock would be worth kr17.22 (3% upside from current price).

Statistics
Positive Scenarios
4/4
Maximum Downside
No Downside Scenarios
Maximum Upside
+74%
Average Upside
28%
Scenario EV/EBIT Value Implied Price Upside/Downside
Current Multiple 10.2 kr16.8
0%
3-Year Average 10.4 kr17.22
+3%
5-Year Average 10.6 kr17.51
+4%
Industry Average 17.7 kr29.24
+74%
Country Average 13.4 kr22.15
+32%

Forward EV/EBIT
Today’s price vs future ebit

Today's Enterprise Value EBIT Forward EV/EBIT
kr953.8m
/
Jul 2025
kr89.2m
=
10.2
Current
kr953.8m
/
Dec 2025
kr60.6m
=
15.7
Forward
kr953.8m
/
Dec 2026
kr172.2m
=
5.5
Forward
kr953.8m
/
Dec 2027
kr110.1m
=
8.7
Forward

Forward EV/EBIT shows whether today’s EV/EBIT still looks high or low once future ebit are taken into account.

Peer Comparison

All Multiples
EV/EBIT
P/E
All Countries
Close
Market Cap EV/EBIT P/E
NO
Borgestad ASA
OSE:BOR
589m NOK 10.2 83.9
IE
CRH PLC
NYSE:CRH
79.3B USD 17.3 21
CH
Holcim AG
SIX:HOLN
40B CHF 18.9 3
DE
HeidelbergCement AG
XETRA:HEI
33.8B EUR 12.2 17.2
US
Vulcan Materials Co
NYSE:VMC
38.5B USD 26.7 35.5
US
Martin Marietta Materials Inc
NYSE:MLM
37.8B USD 28.9 32.9
IN
UltraTech Cement Ltd
NSE:ULTRACEMCO
3.5T INR 32.2 48.4
US
Amrize AG
SIX:AMRZ
24.8B CHF 18 26.2
DE
Heidelberg Materials AG
XMUN:HEI
22.4B EUR 8.6 11.5
IN
Grasim Industries Ltd
NSE:GRASIM
1.9T INR 11.4 44.8
CN
China Jushi Co Ltd
SSE:600176
125.8B CNY 30 38.3

Market Distribution

In line with most companies in Norway
Percentile
43nd
Based on 487 companies
43nd percentile
10.2
Low
0.2 — 3.6
Typical Range
3.6 — 22.2
High
22.2 —
Distribution Statistics
Norway
Min 0.2
30th Percentile 3.6
Median 13.4
70th Percentile 22.2
Max 40 612.5

Borgestad ASA
Glance View

Market Cap
589m NOK
Industry
Construction

Borgestad ASA engages in property investment and management, production and distribution of refractory products, and financial investments. The company is headquartered in Skien, Telemark. The Company’s purpose is to run a shipping company and business within industry, property, trade and what relates to this, including participation in other companies and administrative services. The Group consists of three reportable segments: Property, Refractory and Other. The Property segment includes the Agora Bytom mall in Poland, which is the Company's largest investment. The Refractory segment develops, manufactures and delivers refractory products, installations and concept solutions to industrial customers through the Hoganas Borgestad Group. Borgestad's refractory materials contribute to an efficient utilization of energy, while the Other segment mainly consists of operations in the parent Company Borgestad ASA and the holding companies Borgestad Industries AS and Borgestad Industries AB.

BOR Intrinsic Value
34.89 NOK
Undervaluation 52%
Intrinsic Value
Price kr16.8
B
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