2020 Bulkers Ltd (2020) fair value: what the stock is really worth
As of Nov 5, 2026: fair value (intrinsic value) of 2020 Bulkers Ltd stock NOK 4.01, price NOK 8.75, that is 54.1% below the price, quality 70 out of 100. Rating: strongly overvalued. Calculated from audited financials with 25 of our 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 1, 2026.
How to read this chart
60‑month range kr 2.80 – kr 142.63 · fair‑value band kr 2.84 – kr 5.17 · the kr 8.75 price screens above the kr 4.01 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 1, 2026.
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2020 Bulkers Ltd. owns and operates large dry bulk vessels worldwide. It operates six scrubber fitted 208,000 deadweight tonnage Newcastlemax dry bulk vessels. 2020 Bulkers Ltd. was incorporated in 2017 and is based in Hamilton, Bermuda.
Stock analysis
2020 Bulkers Ltd (2020) currently trades at kr 8.75, while our model-based Fair Value estimate is kr 4.01, 54% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 4.57 per share, and 0 of the 25 models we run sit above the kr 8.75 price.
Bear case: the Asset-Based group reads lowest at kr 1.12, and 25 of the 25 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 2.84 (bear) to kr 5.17 (bull), the price of kr 8.75 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 70/100 (solid quality), in the Industrials sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
2020 Bulkers Ltd reported revenue of $63.1M in FY2025 versus $114M in FY2021, a compound −13.7%/yr. Reported net income was $29.5M in FY2025, compounding −19.7%/yr from FY2021.
Key figures
Market cap 11.0B NOK (≈ $1.2B) · P/E ratio 0.1 · P/S ratio 0.05 · EPS (TTM) kr 88.81 · Dividend yield 11.4% · Net margin 46.8% · Return on equity 267% · Return on assets (EBIT) 17.3%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 87 out of 100 (low confidence).
What moves the price
The share trades about 94% below its 52-week high and 212% above its 52-week low.
For context, the median of 10 Industrials peers we cover trades at 14% fair-value upside, at −54%, 2020 screens richer than that median.
Fair Value models
Bearkr 2.84Fair Value kr 4.01Bullkr 5.17
Price kr 8.75 · Downside -54.1%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 63.89 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
−12.0%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−6.1%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+5.2%
Start year 2020 (pandemic)
Revenue growth 6 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+38.1%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate.
+4.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−6.9%
Dividend (yield on the price)11.4%
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.43% → 58%
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Marine Shipping · 221 stocks
Beats the industry median on 8/9 measures
Overall it ranks above its industry peers.
Valuation
Quality Score70 · Top 25%
Fair Value upside−54.1% · Bottom 25%
Profitability
Return on equity (12 months)267.5% · Top 25%
Return on assets10.9% · Top 25%
Net margin (12 months)89.1% · Top 25%
Operating margin (12 months)99.0% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)110.9% · Top 25%
Dividend yield (12 months)11.4% · Top 25%
Valuation Multiplesvs Marine Shipping median · lower = cheaper
P/E (12 months)0.1× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 43
FUTURE (revenue growth)100· sector 61
PAST (return on equity)100· sector 35
HEALTH (low debt)100· sector 89
DIVIDEND (yield)100· sector 59
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is 2020 Bulkers Ltd (2020) overvalued or undervalued?
As of Nov 1, 2026, our model estimates a fair value of kr 4.01 versus a price of kr 8.75, about 54% lower (overvalued).
What is the fair value of 2020?
Our model-based fair value for 2020 Bulkers Ltd is kr 4.01 (as of Nov 1, 2026), built from audited fundamentals. The current price: kr 8.75.
What is the quality score of 2020?
2020 Bulkers Ltd has a Quality Score of 70/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for 2020 Bulkers Ltd (2020)?
Our model-based price target is the fair value of kr 4.01 (as of Nov 1, 2026) from 25 valuation models. Cautious scenario kr 2.84, optimistic scenario kr 5.17. It is a calculation from audited fundamentals, not an analyst target.
What is the 2020 Bulkers Ltd stock forecast for 2026?
Our models put fair value at kr 4.01, about 54% lower versus a price of kr 8.75 (overvalued). Cautious scenario kr 2.84, optimistic scenario kr 5.17. The calculation is refreshed regularly with new filings.
Does 2020 Bulkers Ltd pay a dividend?
2020 Bulkers Ltd currently shows a dividend yield of 11.43% relative to its recent price (as of Nov 1, 2026).
What is the intrinsic value of 2020 Bulkers Ltd (2020)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For 2020 Bulkers Ltd it is kr 4.01 per share (as of Nov 1, 2026), against a price of kr 8.75. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is 2020 Bulkers Ltd stock overvalued or undervalued in 2026?
As of Nov 1, 2026, 2020 trades above its calculated fair value: price kr 8.75, fair value kr 4.01, a gap of about −54% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 2020?
No. The price is what the market pays today (kr 8.75); the fair value is what the company's own numbers justify (kr 4.01). For 2020 Bulkers Ltd the two are kr 4.74 per share apart. That gap is exactly why we show both numbers side by side.
How much is 2020 Bulkers Ltd worth?
The market values 2020 Bulkers Ltd at about 11.0B NOK (market capitalisation, as of Nov 1, 2026). Per share that is kr 8.75; our models calculate a fair value of kr 4.01 per share.
What do the bullish and bearish scenarios say about 2020?
Our models span a range for 2020 Bulkers Ltd: cautious scenario kr 2.84, base kr 4.01, optimistic kr 5.17 per share (as of Nov 1, 2026, price kr 8.75). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of 2020?
2020 Bulkers Ltd trades at a price-to-earnings ratio of 0.1 (as of Nov 1, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 4.01 is built from several models across several years.
How solid is the balance sheet of 2020 Bulkers Ltd (2020)?
Balance-sheet figures for 2020 Bulkers Ltd (as of Nov 1, 2026): return on equity 267.5%. They feed the Quality Score of 70/100, which measures business quality independently of the share price.
How far is 2020 from its 52-week high?
2020 Bulkers Ltd trades at kr 8.75, about 94% below its 52-week high of kr 142.63 and 212% above the low of kr 2.80 (as of Nov 5, 2026). Distance from the high says nothing about value: that is what the fair value of kr 4.01 is for.
Which stocks are comparable to 2020 Bulkers Ltd?
From the same area (Industrials) we also value Adani Ports and Special Economic Zone Limited, COSCO SHIPPING Holdings, Hapag-Lloyd Aktiengesellschaft,, Shanghai International Port (Group) Co, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is 2020 Bulkers Ltd stock attractive at the current price?
The data as of Nov 1, 2026: price kr 8.75, calculated fair value kr 4.01 (−54%), Quality Score 70/100, from 25 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 2020 calculated?
We run 2020 Bulkers Ltd through 25 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 4.01, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 15.5% above its aggregate fair value. 2020 Bulkers Ltd itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of 2020 Bulkers Ltd (2020)?
The closing price on Nov 5, 2026 was kr 8.75. Our model-based fair value is kr 4.01, about 54% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with 2020 Bulkers Ltd right now?
The price sits above even our optimistic bull case (kr 5.17). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (70/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 2.84 to kr 5.17) leaves room in how you read the outcome.
Key figures of 2020 Bulkers Ltd
How large is the market capitalisation of 2020 Bulkers Ltd (2020)?
The market capitalisation of 2020 Bulkers Ltd is 11.0B NOK (≈ $1.2B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of 2020 Bulkers Ltd (2020)?
The price-to-sales ratio of 2020 Bulkers Ltd is 0.05 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of 2020 Bulkers Ltd (2020)?
Earnings per share at 2020 Bulkers Ltd are kr 88.81 (price ÷ EPS = P/E 0.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of 2020 Bulkers Ltd (2020)?
The dividend yield of 2020 Bulkers Ltd is 11.4% (payout 1.1%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of 2020 Bulkers Ltd (2020)?
The net margin of 2020 Bulkers Ltd is 46.8% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of 2020 Bulkers Ltd (2020)?
The return on equity (ROE) of 2020 Bulkers Ltd is 267% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of 2020 Bulkers Ltd (2020)?
On an EBIT basis the return on assets of 2020 Bulkers Ltd is 17.3% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of 2020 Bulkers Ltd (2020)?
The operating margin of 2020 Bulkers Ltd is 99.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at 2020 Bulkers Ltd (2020)?
Revenue at 2020 Bulkers Ltd is growing +111% versus a year earlier (3y avg −6.1%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at 2020 Bulkers Ltd (2020)?
Earnings per share at 2020 Bulkers Ltd are growing +418% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does 2020 Bulkers Ltd (2020) generate?
The free cash flow of 2020 Bulkers Ltd is $34.5M (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does 2020 Bulkers Ltd (2020) carry?
The net debt of 2020 Bulkers Ltd is $88.6M (fiscal year 2025, ≈ 2.6 yrs of FCF). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Thin data
Nov 1, 2026