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TORM plc (0RG4) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of TORM plc DKK 508, price DKK 259, upside +95.8%, quality 63 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
- Fair value above price? Yes
- Good quality? Yes
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Broad data
Sep 24, 2026
TORM plc
0RG4 · LSEClearly undervaluedStrong Fair Value upside, but quality is only moderate.
✓Fair value kr 507.57 · Strongly undervalued (+95.8%)
✓Quality 63/100
!Weak Growth (revenue 5y −18.2 %/yr)
✓Highly profitable · 24.5% net margin (TTM)
✓Low debt · generates free cash flow
!0.9% dividend yield · Token dividend
✓Wide moat 76/100
!The models disagree: range kr 298.02 to kr 1,007
What runs behind every stock
26
valuation models
8 families, DCF to NCAV
37
quality factors
margins, balance sheet, cashflow, debt
6
AI factors
moat, what no ratio measures
2,000+
data points
verified, per stock, median
69 individual criteria per stock, every one traceable See the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 38.98 – kr 266.51 · fair‑value band kr 298.02 – kr 1,007 · the kr 259.20 price screens below the kr 507.57 fair value. Dashed = 300-day average. As of Sep 24, 2026.
Company profile
TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom and internationally. It operates in two segments, Tanker and Marine Engineering.
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TORM plc, a shipping company, owns and operates a fleet of product tankers in the United Kingdom and internationally. It operates in two segments, Tanker and Marine Engineering. The Tanker segment transports refined oil products, such as gasoline, jet fuel, diesel, naphtha, and gas oil, as well as dirty petroleum products, such as residual fuels and crude oil. The Marine Engineering segment engages in developing and producing advanced and green marine equipment. TORM plc was founded in 1889 and is based in London, the United Kingdom.
Stock analysis
TORM plc (0RG4) currently trades at kr 259.20, while our model-based Fair Value estimate is kr 507.57, implying the stock looks roughly 48.9% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 926.92 per share, and 20 of the 25 models we run sit above the kr 259.20 price.
Bear case: the Asset-Based group reads lowest at kr 100.20, and 5 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 298.02 (bear) to kr 1,007 (bull), the price of kr 259.20 sits below 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 63/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
TORM plc reported revenue of $1.5B in FY2023 versus $693M in FY2019, a compound +21.7%/yr. Reported net income was $648M in FY2023, compounding +40.6%/yr from FY2019.
Key figures
Market cap 7.9B DKK (≈ $1.2B) · P/S ratio 5.60 · EPS (TTM) kr −0.9460 · Dividend yield 0.9% · Net margin 42.6% · Return on equity 15.7% · Return on assets (EBIT) 11.5% · Operating margin 34.2%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 52 out of 100 (low confidence).
What moves the price
The share trades at its 52-week high and 111% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Energy peers we cover trades at −21% fair-value upside, at 96%, 0RG4 screens cheaper than that median.
Fair Value models
Bear kr 298.02
Fair Value kr 507.57
Bull kr 1,007
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.
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.
Evidence ⓘEvidence = 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.
Highest evidence
FCF DCF
kr 242.24
kr 438.18
kr 741.75
75
EPV
kr 377.44
kr 434.64
kr 482.31
74
Growth DCF
kr 237.18
kr 407.79
kr 655.09
74
All 25 models by family
DCF Models
FCF DCF
kr 242.24
kr 438.18
kr 741.75
75
5Y Revenue Exit
kr 133.66
kr 230.10
kr 355.25
69
5Y EBITDA Exit
kr 248.87
kr 469.46
kr 746.13
71
5Y P/E Exit
kr 415.81
kr 816.32
kr 1,280
67
10Y Revenue Exit
kr 168.82
kr 270.07
kr 415.76
64
10Y EBITDA Exit
kr 242.24
kr 431.06
kr 716.94
64
10Y P/E Exit
kr 343.82
kr 664.35
kr 1,129
59
Earnings-Based
Graham-Dodd
kr 396.21
kr 1,896
kr 2,609
62
Lynch FV
kr 505.34
kr 721.91
kr 938.49
59
PEG = 1.0
kr 505.34
kr 721.91
kr 938.49
55
EPV
kr 377.44
kr 434.64
kr 482.31
74
Dividend Discount
Gordon GGM
kr 409.47
kr 737.86
kr 1,016
66
DDM Multi-Stage
kr 409.47
kr 674.01
kr 788.21
65
Multiples
P/E Multiple
kr 611.79
kr 815.72
kr 1,020
63
P/S Multiple
kr 122.99
kr 163.98
kr 204.98
58
P/B Multiple
kr 201.90
kr 269.20
kr 336.51
55
EV/EBIT
kr 394.92
kr 540.58
kr 686.23
66
EV/EBITDA
kr 280.52
kr 388.05
kr 495.57
67
EV/Revenue
kr 72.74
kr 121.94
kr 171.13
52
Asset-Based
NCAV (Graham)
kr 74.78
kr 100.20
kr 149.56
54
Growth DCF
Growth DCF
kr 237.18
kr 407.79
kr 655.09
74
Rev-Margin DCF
kr 133.66
kr 231.07
kr 358.54
69
Economic Profit
Residual Income
kr 293.39
kr 351.41
kr 566.13
72
ROIC Compounder
kr 424.95
kr 550.00
kr 697.53
70
Growth Earnings
Growth-Adj P/E
kr 648.84
kr 926.92
kr 1,205
65
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Set up alert →Quality Score breakdown
Overall quality
63/100
Of which business quality 63 · Market factors (momentum, volatility) 89
Profitability
78
Margins and returns on capital today
Quality Growth
57
Are margins and returns improving?
Cashflow
83
Earnings quality: real cash, not paper profit
Fin. Strength
60
Balance sheet, leverage, solvency risk
Investment
49
Disciplined investing over empire-building
Low Volatility
71
Calm price path (market factor)
Momentum
94
Price trend over the last 3–12 months (market factor)
52W Momentum
100
Distance to the 52-week high (market factor)
Net Issuance
30
Share count: buybacks or dilution?
Revenue & earnings trend
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
+5.3%
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.
+26.7%
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.
−18.2%
Revenue growth 10 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.
+23.3%
’13
’14
’15
’16
’17
’18
’19
’20
’21
’22
’23
What shareholders gained per year (last 5 years) (mathematically smoothed) ⓘ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. Smoothed = median of all growth paths between the years of the window (trend line on the logarithm of earnings per share): a single extreme year cannot distort the rate. The reported figure stays in the tooltip.
+40.7%
Earnings growth per share plus dividend.
Earnings per share, growth per year+39.8%
Dividend (yield on the price)0.9%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.43.2% vs 17.9%, picking up
Profit margin 2018 to 2023 ⓘ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.1% → 43%
2023 sits 87% above its own trend. The rate follows the median trend of the last 5 years, not that single year.
⚠ Revenue per share shrinking 8.0%/yr over ~8Y (margins intact) ⓘ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.
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far and more than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
+3.1%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
−11.2%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in USD, USA: IMF forecast 2.4% a year to 2030, 3.1% from 2016 to 2025) that is about +0.7% a year for the price and −13.2% for the forecasts.
Forecast 2024 (sales)−1.5%
Forecast 2025 (sales)−1.5%
Forecast 2026 (sales)−1.5%
Forecast 2027 (sales)−26.3%
Projected 2028 (sales)−21.6%
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Context: sector, industry, market
- P/E, EV/EBITDA and margins by industry (reference tables)
- Undervalued stocks: UK Stocks
- Valuation of the UK market
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Oil & gas
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| Kinder Morgan, Inc KMI | $30.63 | $28.16 | −8% |
| TC Energy Corporation TRP | $58.78 | $24.51 | −58% |
| Targa Resources Corp TRGP | $277.84 | $65.24 | −77% |
| MPLX LP owns and MPLX | $57.66 | $70.77 | +23% |
| ONEOK, Inc OKE | $88.62 | $80.15 | −10% |
| Cheniere Energy, Inc LNG | $267.29 | $294.02 | +10% |
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Frequently asked questions
Is TORM plc (0RG4) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 507.57 versus a price of kr 259.20, about +96% upside (undervalued).
What is the fair value of 0RG4?
Our model-based fair value for TORM plc is kr 507.57 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 259.20.
What is the quality score of 0RG4?
TORM plc has a Quality Score of 63/100. 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 TORM plc (0RG4)?
Our model-based price target is the fair value of kr 507.57 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 298.02, optimistic scenario kr 1,007. It is a calculation from audited fundamentals, not an analyst target.
What is the TORM plc stock forecast for 2026?
Our models put fair value at kr 507.57, about +96% upside versus a price of kr 259.20 (undervalued). Cautious scenario kr 298.02, optimistic scenario kr 1,007. The calculation is refreshed regularly with new filings.
What is the revenue of TORM plc (0RG4)?
TORM plc reported trailing-twelve-month revenue of about $1.4B (latest available figure, as of Sep 24, 2026).
Does TORM plc pay a dividend?
TORM plc currently shows a dividend yield of about 0.93% relative to its recent price (as of Sep 24, 2026).
What growth is priced into TORM plc (0RG4)?
For today's price to be fair in a discounted-cash-flow model, TORM plc would have to grow free cash flow by +3.1 % per year for five years (discount rate 10.3 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew -18.2 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of 0RG4 use?
Our models discount TORM plc at 10.3 %: a base by market capitalisation (small), damped by beta 0.01, country premium for United Kingdom. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For TORM plc that is +3.1 % per year a year over ten years, using the same discount rate (10.3 %) and the same formula as our fair value.
How much growth has TORM plc (0RG4) delivered so far?
Over the past 5 years revenue at TORM plc grew -18.2 % a year. The price currently implies +3.1 % per year free-cash-flow growth a year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of TORM plc (0RG4) growing?
The median revenue growth in the sector is +9.6 % a year. That is the yardstick for the growth priced into TORM plc (+3.1 % per year a year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of TORM plc (0RG4)?
The free-cash-flow yield on the price is 8.73 %: that much free cash flow TORM plc produces per unit of market value. When it exceeds the discount rate of our models (10.3 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of TORM plc (0RG4)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For TORM plc it is kr 507.57 per share (as of Sep 24, 2026), against a price of kr 259.20. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is TORM plc stock overvalued or undervalued in 2026?
As of Sep 24, 2026, 0RG4 trades below its calculated fair value: price kr 259.20, fair value kr 507.57, a gap of about +96% (undervalued). 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 0RG4?
No. The price is what the market pays today (kr 259.20); the fair value is what the company's own numbers justify (kr 507.57). For TORM plc the two are kr 248.37 per share apart. That gap is exactly why we show both numbers side by side.
How much is TORM plc worth?
The market values TORM plc at about 7.9B DKK (market capitalisation, as of Sep 24, 2026). Per share that is kr 259.20; our models calculate a fair value of kr 507.57 per share.
What do the bullish and bearish scenarios say about 0RG4?
Our models span a range for TORM plc: cautious scenario kr 298.02, base kr 507.57, optimistic kr 1,007 per share (as of Sep 24, 2026, price kr 259.20). The range comes from different growth and margin assumptions, not from analyst opinions.
How far is 0RG4 from its 52-week high?
TORM plc trades at kr 259.20, at its 52-week high of kr 259.20 and 111% above the low of kr 122.60 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 507.57 is for.
Which stocks are comparable to TORM plc?
From the same area (Energy) we also value Enbridge Inc, The Williams Companies, Inc, Enterprise Products Partners L.P., Energy Transfer LP,, 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 TORM plc stock attractive at the current price?
The data as of Sep 24, 2026: price kr 259.20, calculated fair value kr 507.57 (+96%), Quality Score 63/100, 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 0RG4 calculated?
We run TORM plc 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 507.57, 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 14.5 % above its aggregate fair value. TORM plc currently trades 49 % below its own fair value, and the market average says nothing about that. 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 TORM plc (0RG4)?
The closing price on Oct 2, 2026 was kr 259.20. Our model-based fair value is kr 507.57, about +96% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with TORM plc right now?
The price is below even our cautious bear case (kr 298.02). The market is more pessimistic than our downside scenario. The model range is unusually wide (kr 298.02 to kr 1,007). The outcome hinges heavily on assumptions, so read the point estimate with caution. Solid quality (63/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of TORM plc
How large is the market capitalisation of TORM plc (0RG4)?
The market capitalisation of TORM plc is 7.9B DKK (≈ $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 TORM plc (0RG4)?
The price-to-sales ratio of TORM plc is 5.60 (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 TORM plc (0RG4)?
Earnings per share at TORM plc are kr −0.9460. Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of TORM plc (0RG4)?
The dividend yield of TORM plc is 0.9%. 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 TORM plc (0RG4)?
The net margin of TORM plc is 42.6% (fiscal year 2023). 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 TORM plc (0RG4)?
The return on equity (ROE) of TORM plc is 15.7% (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 TORM plc (0RG4)?
On an EBIT basis the return on assets of TORM plc is 11.5% (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 TORM plc (0RG4)?
The operating margin of TORM plc is 34.2% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at TORM plc (0RG4)?
Revenue at TORM plc is growing +22.2% versus a year earlier (3y avg +26.7%). 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 TORM plc (0RG4)?
Earnings per share at TORM plc are growing +90.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does TORM plc (0RG4) carry?
The net debt of TORM plc is $792M (fiscal year 2023, ≈ 2.7 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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