Magnora ASA (MGN) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Magnora ASA stock NOK 5.09, price NOK 19.98, that is 74.5% below the price, quality 58 out of 100. Rating: strongly overvalued. Calculated from audited financials with 12 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 7, 2026.
How to read this chart
60‑month range kr 12.54 – kr 33.50 · fair‑value band kr 3.91 – kr 6.36 · the kr 19.98 price screens above the kr 5.09 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 7, 2026.
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Magnora ASA operates as a renewable energy development company in Norway, Sweden, South Africa and the United Kingdom. The company focuses on developing data centers, solar photovoltaic energy, wind energy " onshore and offshore, renewable energy, and battery energy storage systems projects.
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The company was formerly known as Sevan Marine ASA and changed its name to Magnora ASA in October 2018. Magnora ASA was incorporated in 2001 and is based in Oslo, Norway.
Stock analysis
Magnora ASA (MGN) currently trades at kr 19.98, while our model-based Fair Value estimate is kr 5.09, 75% 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 6.71 per share, and 0 of the 12 models we run sit above the kr 19.98 price.
Bear case: the Asset-Based group reads lowest at kr 2.95, and 12 of the 12 models stay below the price. Data coverage for this calculation is low.
Scenario range: kr 3.91 (bear) to kr 6.36 (bull), the price of kr 19.98 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 58/100 (solid quality), in the Utilities sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Magnora ASA reported revenue of 97.7M NOK in FY2025 versus 15.2M NOK in FY2021, a compound +59.2%/yr. Reported net income was 20.1M NOK in FY2025.
Key figures
Market cap 1.4B NOK (≈ $151M) Micro · P/S ratio 28.3 · EPS (TTM) kr −1.09 · Dividend yield 2.5% · Net margin −150% · Return on equity −15.1% · Return on assets (EBIT) 10.0% (5-year average) · Operating margin −2,538%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 23 out of 100 (low confidence).
What moves the price
The share trades about 40% below its 52-week high and 6% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Utilities peers we cover trades at −52% fair-value upside, at −75%, MGN screens richer than that median.
Fair Value models
Bearkr 3.91Fair Value kr 5.09Bullkr 6.36
Price kr 19.98 · Downside -74.5%
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.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.22/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+2.1%
Revenue growth 23 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.
+14.1%
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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.
−4.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−7.4%
Dividend (yield on the price)2.5%
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.22% → −3%
⚠ Revenue per share shrinking 30.2%/yr over ~10Y (margin trend unclear) ⓘStructural-decline marker: revenue PER SHARE has fallen over the last decade (robust median trend, not a single year). Backtested across 2005 to 2017, such businesses trailed the market by about 2.5 percentage points per year. Display only: it does not change the fair value or the quality score.
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.Utilities - Renewable · 196 stocks
Beats the industry median on 6/10 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Top 25%
Fair Value upside−74.5% · Bottom 25%
Profitability
Return on assets6.9% · Top 25%
Net margin (12 months)−228.7% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)160.0% · Top 25%
Dividend yield (12 months)2.5% · Above median
Balance sheet
Debt / equity0.01× · Lowest 25%
Valuation Multiplesvs Utilities - Renewable median · lower = cheaper
P/B3.77× · Priciest 25%
P/S (12 months)43.17× · Priciest 25%
PEG0.11× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 15
FUTURE (revenue growth)100· sector 15
PAST (return on equity)0· sector 12
HEALTH (low debt)100· sector 70
DIVIDEND (yield)51· sector 47
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.
Cite: Fair Value Calculator (2026). "Magnora ASA Fair Value". https://www.fairvalue-calculator.com/stock/MGN.OL
Frequently asked questions
Is Magnora ASA (MGN) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of kr 5.09 versus a price of kr 19.98, about 75% lower (overvalued).
What is the fair value of MGN?
Our model-based fair value for Magnora ASA is kr 5.09 (as of Nov 7, 2026), built from audited fundamentals. The current price: kr 19.98.
What is the quality score of MGN?
Magnora ASA has a Quality Score of 58/100. 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 Magnora ASA (MGN)?
Our model-based price target is the fair value of kr 5.09 (as of Nov 7, 2026) from 12 valuation models. Cautious scenario kr 3.91, optimistic scenario kr 6.36. It is a calculation from audited fundamentals, not an analyst target.
What is the Magnora ASA stock forecast for 2026?
Our models put fair value at kr 5.09, about 75% lower versus a price of kr 19.98 (overvalued). Cautious scenario kr 3.91, optimistic scenario kr 6.36. The calculation is refreshed regularly with new filings.
What is the revenue of Magnora ASA (MGN)?
Magnora ASA reported trailing-twelve-month revenue of about 50.3M NOK (latest available figure, as of Nov 7, 2026).
Does Magnora ASA pay a dividend?
Magnora ASA currently shows a dividend yield of 2.53% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Magnora ASA (MGN)?
Magnora ASA has a dividend yield of 2.5%.
What is the intrinsic value of Magnora ASA (MGN)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Magnora ASA it is kr 5.09 per share (as of Nov 7, 2026), against a price of kr 19.98. It is the blended result of 12 valuation models in 7 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is Magnora ASA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, MGN trades above its calculated fair value: price kr 19.98, fair value kr 5.09, a gap of about −75% (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 MGN?
No. The price is what the market pays today (kr 19.98); the fair value is what the company's own numbers justify (kr 5.09). For Magnora ASA the two are kr 14.89 per share apart. That gap is exactly why we show both numbers side by side.
How much is Magnora ASA worth?
The market values Magnora ASA at about 1.4B NOK (market capitalisation, as of Nov 7, 2026). Per share that is kr 19.98; our models calculate a fair value of kr 5.09 per share.
What do the bullish and bearish scenarios say about MGN?
Our models span a range for Magnora ASA: cautious scenario kr 3.91, base kr 5.09, optimistic kr 6.36 per share (as of Nov 7, 2026, price kr 19.98). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of MGN?
The PEG ratio of Magnora ASA is 0.11 (P/E divided by earnings growth, as of Nov 7, 2026). That is below 1, so growth is priced more cheaply than the earnings multiple alone suggests.
How solid is the balance sheet of Magnora ASA (MGN)?
Balance-sheet figures for Magnora ASA (as of Nov 7, 2026): return on equity −15.1%, debt of 0.01 per unit of equity. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is MGN from its 52-week high?
Magnora ASA trades at kr 19.98, about 40% below its 52-week high of kr 33.50 and 6% above the low of kr 18.86 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 5.09 is for.
Which stocks are comparable to Magnora ASA?
From the same area (Utilities) we also value China Yangtze Power Co, Ørsted A/S, Huaneng Lancang River Hydropower Inc, VERBUND AG, 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 Magnora ASA stock attractive at the current price?
The data as of Nov 7, 2026: price kr 19.98, calculated fair value kr 5.09 (−75%), Quality Score 58/100, from 12 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 MGN calculated?
We run Magnora ASA through 12 models from 7 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 5.09 builds on their evidence-weighted average, 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 13.3% above its aggregate fair value. Magnora ASA 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 Magnora ASA (MGN)?
The closing price on Nov 6, 2026 was kr 19.98. Our model-based fair value is kr 5.09, about 75% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Magnora ASA right now?
The price sits above even our optimistic bull case (kr 6.36). 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 (58/100) and above fair value, neither a clear bargain nor a standout compounder.
Key figures of Magnora ASA
How large is the market capitalisation of Magnora ASA (MGN)?
The market capitalisation of Magnora ASA is 1.4B NOK (≈ $151M). 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 Magnora ASA (MGN)?
The price-to-sales ratio of Magnora ASA is 28.3 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Magnora ASA (MGN)?
Earnings per share at Magnora ASA are kr −1.09. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Magnora ASA (MGN)?
The dividend yield of Magnora ASA is 2.5%. 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 Magnora ASA (MGN)?
The net margin of Magnora ASA is −150% (last twelve months). 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 Magnora ASA (MGN)?
The return on equity (ROE) of Magnora ASA is −15.1% (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 Magnora ASA (MGN)?
On an EBIT basis the return on assets of Magnora ASA is 10.0% (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 Magnora ASA (MGN)?
The operating margin of Magnora ASA is −2,538% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Magnora ASA (MGN)?
Revenue at Magnora ASA is growing +160% versus a year earlier (3y avg +2.1%). 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 Magnora ASA (MGN)?
Earnings per share at Magnora ASA are growing +87.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Magnora ASA (MGN) generate?
The free cash flow of Magnora ASA is −10.2M NOK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net cash does Magnora ASA (MGN) hold?
Magnora ASA holds more cash than debt, 346M NOK net (fiscal year 2023). The company holds more cash than debt, a safety cushion.
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Thin data
Nov 7, 2026