BlueNord ASA (BNOR) Fair Value & Analysis
Energy · NO · Market cap 13.7B NOK (≈ $1.5B) · ISIN NO0010379266
Strengths
Risks
Fair value as of: Aug 27, 2026
From 26 valuation models · updated today
Fair value updated Aug 27, 2026, revised from kr 53.39 to kr 498.85 (+834.4%) since Aug 13, 2026. Share price +6.5% over the past month.
A solid business, currently priced close to our fair value.
What runs behind every stock
69 individual criteria per stock, every one traceable See the method →
What matters now
- The price sits close to our fair value, market and models broadly agree here, little valuation tension.
- Our model range runs from kr 374.14 (bear) to kr 623.57 (bull), base kr 498.85. The closer the price sits to the lower half, the larger the margin of safety.
- Quality 69/100 (solid quality) with high evidence: the data supports the verdict.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 27, 2026.
How to read this chart
60‑month range kr 90.24 – kr 576.00 · fair‑value band kr 374.14 – kr 623.57 · the kr 542.00 price screens above the kr 498.85 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 27, 2026.
Analysis
BlueNord ASA (BNOR) currently trades at kr 542.00, while our model-based Fair Value estimate is kr 498.85, implying the stock looks roughly 8.0% fairly valued today. The Quality Score stands at 69/100 (solid quality), in the Energy sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).
Over the trailing twelve months, BlueNord ASA generated revenue of 1.1B NOK at a net margin of 7.4%. Revenue grew 40.2% year over year. It earns a return on equity of 14.0%. Net debt stands at 926M NOK. Fundamentals as of Aug 27, 2026
Our scenario range runs from kr 374.14 (bear case) to kr 623.57 (bull case); at kr 542.00, the current price sits within that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. The share trades about 5% below its 52-week high and 62% above its 52-week low, currently above its 200-day average. For context, the median of 10 Energy peers we cover trades at -35% fair-value upside, at -8%, BNOR screens cheaper than that median.
Fair Value models
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.
All 26 models by family
Widest divergence: Dividend Discount (kr 214.70) versus Asset-Based (kr 19.75). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 27, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 64 · Market factors (momentum, volatility) 73
Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
BlueNord ASA, an oil and gas company, produces and develops resources that support the energy transition towards net zero. It is involved in the exploration and oil and gas infrastructure activities. The company's asset portfolio includes the Dan, Halfdan, Gorm, and Tyra hubs; and producing fields on the Danish continental shelf.
Full company description
BlueNord ASA, an oil and gas company, produces and develops resources that support the energy transition towards net zero. It is involved in the exploration and oil and gas infrastructure activities. The company's asset portfolio includes the Dan, Halfdan, Gorm, and Tyra hubs; and producing fields on the Danish continental shelf. The company was formerly known as Norwegian Energy Company ASA and changed its name to BlueNord ASA in April 2023. BlueNord ASA was founded in 2005 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
BlueNord ASA reported revenue of $1.0B in FY2025 versus $565M in FY2021, a compound +16.4%/yr. Reported net income was $97.5M in FY2025.
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Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- BlueNord: Notice of Extraordinary General Meeting - Approval of the Merger Plan with Vår Energi
- Vår Energi to acquire BlueNord in $1.3bn cash-and-stock deal
- Var Energi to Acquire BlueNord
- Vår Energi to combine with BlueNord, building the largest independent producer of oil and gas in Europe
Peer Group
Oil & Gas E&P · 328 stocks
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.
Valuation Multiples vs Oil & Gas E&P median · lower = cheaper
Snowflake
Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Oil & Gas E&P stocks, each showing price versus our Fair Value estimate (as of Aug 27, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CNOOC Limited 600938 | ¥32.85 | ¥32.55 | -1% |
| ConocoPhillips explores for, COP | $130.61 | $90.15 | -31% |
| Canadian Natural Resources Limited CNQ | C$68.93 | C$44.78 | -35% |
| EOG Resources, Inc EOG | $144.50 | $132.20 | -9% |
| Occidental Petroleum Corporation OXY | $58.62 | $30.06 | -49% |
| Diamondback Energy, Inc FANG | $199.84 | $105.24 | -47% |
| Devon Energy Corporation DVN | $46.83 | $27.06 | -42% |
| Woodside Energy Group WDS | A$32.55 | A$20.71 | -36% |
| EQT Corporation EQT | $54.79 | $42.85 | -22% |
| Texas Pacific Land Corporation TPL | $369.40 | $77.26 | -79% |
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.
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