Black Sea Property AS (BSP) Fair Value & Analysis
Consumer Cyclical · NO · Market cap 13.9M NOK
Fair value as of: Jul 16, 2026
From 2 valuation models · updated today
Share price +6.4% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 2.48 – kr 19.65 · fair‑value band kr 1.98 – kr 3.95 · the kr 3.00 price screens above the kr 2.65 fair value. As of Jul 16, 2026.
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Black Sea Property AS (BSP) currently trades at kr 3.00, while our model-based Fair Value estimate is kr 2.65, implying the stock looks roughly 11.6% overvalued today. We read business quality at 11/100 (below-average quality), in the Consumer Cyclical 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: low).
Trailing-twelve-month revenue stands at 10.2M NOK. It earns a return on equity of -9.1%. Net debt stands at 195M NOK. Fundamentals as of Jul 16, 2026
Our scenario range runs from kr 1.98 (bear case) to kr 3.95 (bull case); at kr 3.00, the current price sits within that range. For context, the median of 10 Consumer Cyclical peers we cover trades at -64% fair-value upside, at -12%, BSP screens cheaper than that median.
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jul 16, 2026. TTM = trailing twelve months.
About the company
Black Sea Property AS engages in the operation of holiday resort under the Aheloy Beach Resort name in Bulgaria. It is also involved in real estate investment; and property development and rental businesses. The company was founded in 2015 and is based in Oslo, Norway.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Black Sea Property AS reported revenue of kr 5.2M in FY2025 versus kr 0 in FY2021. Reported net income was −kr 98.7M in FY2025.
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Similar stocks
10 more Lodging stocks, each showing price versus our Fair Value estimate (as of Jul 16, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Marriott International, Inc MAR | $386.23 | $94.01 | -76% |
| Hilton Worldwide Holdings HLT | $343.83 | $123.66 | -64% |
| InterContinental Hotels Group IHG | $171.02 | $76.89 | -55% |
| Hyatt Hotels Corporation H | $190.63 | $54.44 | -71% |
| H World Group H1TH34 | R$62.64 | R$59.49 | -5% |
| Accor SA ACRFF | $57.35 | $44.53 | -22% |
| The Indian Hotels Company INDHOTEL | ₹743.20 | ₹260.68 | -65% |
| Wyndham Hotels & Resorts, Inc WH | $82.02 | $23.92 | -71% |
| Whitbread plc WTBDY | $8.28 | $6.71 | -19% |
| Hanjin Kal, 180640 | 115,600 KRW | 28,940 KRW | -75% |
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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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Not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.