Borregaard ASA
SWB:BO4

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Borregaard ASA
SWB:BO4
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Price: 15.36 EUR -2.04% Market Closed
Market Cap: €1.5B

EV/EBITDA

9.7
Current
13%
Cheaper
vs 3-y average of 11.2

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

EV/EBITDA
9.7
=
Enterprise Value
€19.1B
/
EBITDA
kr1.9B

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

EV/EBITDA
9.7
=
Enterprise Value
€19.1B
/
EBITDA
kr1.9B

Valuation Scenarios

Borregaard ASA is trading below its 3-year average

If EV/EBITDA returns to its 3-Year Average (11.2), the stock would be worth €17.7 (15% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-63%
Maximum Upside
+16%
Average Downside
13%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 9.7 €15.36
0%
3-Year Average 11.2 €17.7
+15%
5-Year Average 11.3 €17.87
+16%
Industry Average 3.5 €5.61
-63%
Country Average 7.8 €12.28
-20%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
€19.1B
/
Jan 2026
kr1.9B
=
9.7
Current
€19.1B
/
Dec 2026
kr2.1B
=
9.2
Forward
€19.1B
/
Dec 2027
kr2.3B
=
8.4
Forward
€19.1B
/
Dec 2028
kr2.4B
=
8
Forward

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

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
NO
Borregaard ASA
SWB:BO4
17B EUR 9.7 26.8
US
Sherwin-Williams Co
NYSE:SHW
83.6B USD 21 32.6
JP
Shin-Etsu Chemical Co Ltd
TSE:4063
12.5T JPY 12.6 25.7
US
Ecolab Inc
NYSE:ECL
76.6B USD 21.5 36.9
JP
Yasuhara Chemical Co Ltd
TSE:4957
10.8T JPY 5.8 10.5
CN
Wanhua Chemical Group Co Ltd
SSE:600309
274.4B CNY 18 20.8
CH
Givaudan SA
SIX:GIVN
26B CHF 17 24.3
IN
Asian Paints Ltd
NSE:ASIANPAINT
2.4T INR 37.1 61.7
DK
Novozymes A/S
CSE:NZYM B
165.6B DKK 28.9 54.8
US
PPG Industries Inc
NYSE:PPG
24.6B USD 10.8 15.6
CH
Sika AG
F:SIKA
19.9B EUR 10.3 17.5
EV/EBITDA Multiple
EBITDA Growth EV/EBITDA to Growth
NO
Borregaard ASA
SWB:BO4
Average EV/EBITDA: 17.5
9.7
9%
1.1
US
Sherwin-Williams Co
NYSE:SHW
21
9%
2.3
JP
Shin-Etsu Chemical Co Ltd
TSE:4063
12.6
4%
3.2
US
Ecolab Inc
NYSE:ECL
21.5
10%
2.2
JP
Y
Yasuhara Chemical Co Ltd
TSE:4957
5.8
N/A N/A
CN
Wanhua Chemical Group Co Ltd
SSE:600309
18
22%
0.8
CH
Givaudan SA
SIX:GIVN
17
5%
3.4
IN
Asian Paints Ltd
NSE:ASIANPAINT
37.1
10%
3.7
DK
Novozymes A/S
CSE:NZYM B
28.9
N/A N/A
US
PPG Industries Inc
NYSE:PPG
10.8
7%
1.5
CH
Sika AG
F:SIKA
10.3
7%
1.5

Market Distribution

Lower than 79% of companies in Norway
Percentile
21st
Based on 539 companies
21st percentile
0.9
Low
0.1 — 2.2
Typical Range
2.2 — 16.6
High
16.6 —
Distribution Statistics
Norway
Min 0.1
30th Percentile 2.2
Median 7.8
70th Percentile 16.6
Max 40 612.5

Borregaard ASA
Glance View

Market Cap
1.5B EUR
Industry
Chemicals

Nestled in the lush landscapes of Norway, Borregaard ASA has meticulously carved out a distinctive niche for itself in the world of biorefinery. Emerging from its roots in traditional pulp and paper production, Borregaard has adeptly transformed itself into a global leader of advanced and sustainable biochemicals. The company's biorefinery operation skillfully harnesses the potential of wood as its raw material, extracting high-value lignin, cellulose, vanillin, and other specialty chemicals. This innovative approach enables Borregaard to capitalize on its ability to not only replace fossil-based products but also to create environmentally friendly solutions for a range of industries such as agriculture, construction, and pharmaceuticals. The firm's dedication to sustainability and specialization reflects a forward-looking mindset that aligns with evolving market demands and global environmental standards. Revenue at Borregaard flows predominantly from its divisions, all working in concert to sustain its diverse portfolio. The Performance Chemicals division, for example, primarily markets lignin-based products, which serve as vital ingredients in concrete admixtures and battery components. Meanwhile, the Specialty Cellulose division transforms cellulose into unique applications, ranging from food additives to cosmetics, and fuels the company's growth in diverse markets. Then there is the Fine Chemicals department, which refines vanillin for flavor and fragrance industries. The company's tactical orientation towards innovation and sustainable production not only ensures a steady stream of revenue but also galvanizes its standing as a beacon of environmental responsibility in the chemical industry. In sum, Borregaard's story is one of transformation and foresight, leveraging its expertise to craft a profitable model that harmonizes with the planet's ecological aspirations.

BO4 Intrinsic Value
17.61 EUR
Undervaluation 13%
Intrinsic Value
Price €15.36
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