Borgestad A (BOR) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Borgestad A NOK 14.02, price NOK 17.45, upside -19.7%, quality 39 out of 100. Calculated from audited financials with 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, dashed = 300-day average. As of Sep 24, 2026.
How to read this chart
60‑month range kr 9.74 – kr 174.78 · fair‑value band kr 7.47 – kr 24.44 · the kr 17.45 price screens above the kr 14.02 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.
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Borgestad ASA, an investment company, focuses on real estate and refractory in Norway. The company also develops and manages real estate properties. It operates Agora Bytom, a shopping center and a rental area, as well as a parking garage with parking spaces in Poland.
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Borgestad ASA, an investment company, focuses on real estate and refractory in Norway. The company also develops and manages real estate properties. It operates Agora Bytom, a shopping center and a rental area, as well as a parking garage with parking spaces in Poland. In addition, the company Höganäs Borgestad, which offers refractory products, systems, and installation services. Borgestad ASA was founded in 1904 and is headquartered in Lysaker, Norway.
Stock analysis
Borgestad A (BOR) currently trades at kr 17.45, while our model-based Fair Value estimate is kr 14.02, implying the stock looks roughly 24.5% overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 18.80 per share, and 7 of the 25 models we run sit above the kr 17.45 price.
Bear case: the Economic Profit group reads lowest at kr 4.36, and 18 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 7.47 (bear) to kr 24.44 (bull), the price of kr 17.45 sits inside 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 39/100 (below-average quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Borgestad A reported revenue of 1.1B NOK in FY2025 versus 883M NOK in FY2021, a compound +5.8%/yr. Reported net income was 15.3M NOK in FY2025.
Key figures
Market cap 612M NOK (≈ $64.2M) · P/E ratio 67.1 · P/S ratio 0.93 · EPS (TTM) kr 0.2600 · Dividend yield 2.9% · Net margin 1.4% · Return on equity 1.8% · Return on assets (EBIT) 1.8%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 43 out of 100 (low confidence).
What moves the price
The share trades about 8% below its 52-week high and 13% above its 52-week low, currently above its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at −47% fair-value upside, at −20%, BOR screens cheaper than that median.
Fair Value models
Bear kr 7.47Fair Value kr 14.02Bull kr 24.44
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.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.
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.59/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
−5.4%
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.
+5.9%
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.
+5.7%
Start year 2020 (pandemic). Over 10 years: +4.2% a year
Revenue growth 25 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.
+3.2%
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Profit margin (trend) ⓘ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.
−1.2% (2020) → 4.3% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no profitable base year
not computed
Growth Forecast
A lot of optimism in the price
The price assumes more growth than the company has delivered so far.
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).
+44.4%
Yearly growth needed for the next five years to justify today's price.
What forecasts expect
n/a
No analyst forecast available.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about +41.0% a year for the price.
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.Building Materials · 258 stocks
Beats the industry median on 4/15 measures
Overall it trails its industry peers.
Valuation
Quality Score39 · Bottom 25%
Fair Value upside−20% · Below median
Profitability
Return on equity (TTM)2% · Below median
Return on assets3% · Above median
Net margin (TTM)1% · Below median
Operating margin (TTM)−7% · Bottom 25%
Growth and dividend
Revenue growth−2% · Below median
Dividend yield (TTM)2.9% · Above median
Balance sheet
Debt / equity0.49× · Highest 25%
Valuation Multiplesvs Building Materials median · lower = cheaper
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). "Borgestad A Fair Value". https://www.fairvalue-calculator.com/stock/BOR
Frequently asked questions
Is Borgestad A (BOR) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 14.02 versus a price of kr 17.45, about −20% upside (overvalued).
What is the fair value of BOR?
Our model-based fair value for Borgestad A is kr 14.02 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 17.45.
What is the quality score of BOR?
Borgestad A has a Quality Score of 39/100. 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 Borgestad A (BOR)?
Our model-based price target is the fair value of kr 14.02 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 7.47, optimistic scenario kr 24.44. It is a calculation from audited fundamentals, not an analyst target.
What is the Borgestad A stock forecast for 2026?
Our models put fair value at kr 14.02, about −20% upside versus a price of kr 17.45 (overvalued). Cautious scenario kr 7.47, optimistic scenario kr 24.44. The calculation is refreshed regularly with new filings.
What is the revenue of Borgestad A (BOR)?
Borgestad A reported trailing-twelve-month revenue of about 1.1B NOK (latest available figure, as of Sep 24, 2026).
Does Borgestad A pay a dividend?
Borgestad A currently shows a dividend yield of about 2.87% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Borgestad A (BOR)?
For today's price to be fair in a discounted-cash-flow model, Borgestad A would have to grow free cash flow by +44.4 % per year for five years (discount rate 12.5 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +5.7 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of BOR use?
Our models discount Borgestad A at 12.5 %: a base by market capitalisation (micro), country premium for Norway. 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 Borgestad A that is +44.4 % per year a year over ten years, using the same discount rate (12.5 %) and the same formula as our fair value.
How much growth has Borgestad A (BOR) delivered so far?
Over the past 5 years revenue at Borgestad A grew +5.7 % a year. The price currently implies +44.4 % 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 Borgestad A (BOR) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Borgestad A (+44.4 % 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 Borgestad A (BOR)?
The free-cash-flow yield on the price is 1.71 %: that much free cash flow Borgestad A produces per unit of market value. When it exceeds the discount rate of our models (12.5 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Borgestad A (BOR)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Borgestad A it is kr 14.02 per share (as of Sep 24, 2026), against a price of kr 17.45. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Borgestad A stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BOR trades above its calculated fair value: price kr 17.45, fair value kr 14.02, a gap of about −20% (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 BOR?
No. The price is what the market pays today (kr 17.45); the fair value is what the company's own numbers justify (kr 14.02). For Borgestad A the two are kr 3.43 per share apart. That gap is exactly why we show both numbers side by side.
How much is Borgestad A worth?
The market values Borgestad A at about 612M NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 17.45; our models calculate a fair value of kr 14.02 per share.
What do the bullish and bearish scenarios say about BOR?
Our models span a range for Borgestad A: cautious scenario kr 7.47, base kr 14.02, optimistic kr 24.44 per share (as of Sep 24, 2026, price kr 17.45). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BOR?
Borgestad A trades at a price-to-earnings ratio of 67.1 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 14.02 is built from several models across several years. Other multiples: PEG 1.7, P/B 0.9, P/S 0.6, EV/EBITDA 9.0.
What is the PEG ratio of BOR?
The PEG ratio of Borgestad A is 1.67 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Borgestad A (BOR)?
Balance-sheet figures for Borgestad A (as of Sep 24, 2026): return on equity 1.8%, debt of 0.49 per unit of equity. They feed the Quality Score of 39/100, which measures business quality independently of the share price.
How far is BOR from its 52-week high?
Borgestad A trades at kr 17.45, about 8% below its 52-week high of kr 18.96 and 13% above the low of kr 15.50 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 14.02 is for.
Which stocks are comparable to Borgestad A?
From the same area (Basic Materials) we also value CRH plc, Holcim AG, Vulcan Materials Company, UltraTech Cement Limited, 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 Borgestad A stock attractive at the current price?
The data as of Sep 24, 2026: price kr 17.45, calculated fair value kr 14.02 (−20%), Quality Score 39/100, 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 BOR calculated?
We run Borgestad A 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 14.02, 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 13.0 % above its aggregate fair value. Borgestad A 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 Borgestad A (BOR)?
The closing price on Sep 24, 2026 was kr 17.45. Our model-based fair value is kr 14.02, about −20% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Borgestad A right now?
Weak quality (39/100) and above fair value at the same time, the margin of safety is missing on both counts. The model range is unusually wide (kr 7.47 to kr 24.44). The outcome hinges heavily on assumptions, so read the point estimate with caution.
Key figures of Borgestad A
How large is the market capitalisation of Borgestad A (BOR)?
The market capitalisation of Borgestad A is 612M NOK (≈ $64.2M). 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 Borgestad A (BOR)?
The price-to-sales ratio of Borgestad A is 0.93 (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 Borgestad A (BOR)?
Earnings per share at Borgestad A are kr 0.2600 (price ÷ EPS = P/E 67.1). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Borgestad A (BOR)?
The dividend yield of Borgestad A is 2.9% (payout 192%). 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 Borgestad A (BOR)?
The net margin of Borgestad A is 1.4% (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 Borgestad A (BOR)?
The return on equity (ROE) of Borgestad A is 1.8% (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 Borgestad A (BOR)?
On an EBIT basis the return on assets of Borgestad A is 1.8% (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 Borgestad A (BOR)?
The operating margin of Borgestad A is −7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Borgestad A (BOR)?
Revenue at Borgestad A is growing −2.4% versus a year earlier (3y avg +5.9%). 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 Borgestad A (BOR)?
Earnings per share at Borgestad A are growing +59.3% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Borgestad A (BOR) carry?
The net debt of Borgestad A is 259M NOK (fiscal year 2025, ≈ 24.8 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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