Elopak AS (ELO) fair value: what the stock is really worth
As of Sep 23, 2026: fair value of Elopak AS NOK 42.13, price NOK 36.30, upside +16.1%, quality 60 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 11.42 – kr 53.85 · fair‑value band kr 31.60 – kr 52.66 · the kr 36.30 price screens below the kr 42.13 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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Elopak ASA manufactures and supplies paper-based packaging system solutions for liquid products in Europe, the Middle East, Africa, Asia, Americas, Germany, Canada, Netherlands, Norway, the United States, and internationally.
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Elopak ASA manufactures and supplies paper-based packaging system solutions for liquid products in Europe, the Middle East, Africa, Asia, Americas, Germany, Canada, Netherlands, Norway, the United States, and internationally. It offers Pure-Pak cartons for chilled and aseptic liquid food; D-PAK cartons for non food products for personal and home care; and filling equipment. The company also provides roll fed packaging material, as well as research and development support, after sales, technical training, and maintenance support services. Further, it offers machines and equipment through spare part webshop. Elopak ASA was founded in 1957 and is based in Oslo, Norway.
Stock analysis
Elopak AS (ELO) currently trades at kr 36.30, while our model-based Fair Value estimate is kr 42.13, implying the stock looks roughly 13.8% undervalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 5.90 per share, and 0 of the 25 models we run sit above the kr 36.30 price.
Bear case: the DCF Models group reads lowest at kr 5.78, and 25 of the 25 models stay below the price. Evidence for this calculation is high.
Scenario range: kr 31.60 (bear) to kr 52.66 (bull), the price of kr 36.30 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 60/100 (solid quality), in the Consumer Cyclical sector.
Healthy Growth: Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Elopak AS reported revenue of €1.2B in FY2025 versus €855M in FY2021, a compound +9.0%/yr. Reported net income was €61.6M in FY2025, compounding +16.2%/yr from FY2021.
Key figures
Market cap 9.8B NOK (≈ $1.0B) · P/E ratio 13.8 · P/S ratio 0.70 · EPS (TTM) kr 2.63 · Dividend yield 0.4% · Net margin 5.1% · Return on equity 16.7% · Return on assets (EBIT) 8.2%.
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 about 33% below its 52-week high and 8% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Cyclical peers we cover trades at −21% fair-value upside, at 16%, ELO screens cheaper than that median.
Fair Value models
The price assumes far more growth than our models allow for, so the models scatter widely (kr 0.8400 to kr 8.48). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear kr 31.60Fair Value kr 42.13Bull kr 52.66
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 1.83 per share) are deliberately not added.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.76/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Revenue growth 1 year
+4.2%
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.
+5.6%
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.
+5.8%
Start year 2020 (pandemic)
Revenue growth 8 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.
+3.6%
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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.
+12.4%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.0%
Dividend (yield on the price)0.4%
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.8% → 9%
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less 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).
−8.8%
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.
+5.3%
Yearly sales growth analysts expect, extended to five years.
After inflation (figures in EUR, euro area: IMF forecast 2.2% a year to 2030, 2.6% from 2016 to 2025) that is about −10.7% a year for the price and +3.1% for the forecasts.
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.Packaging & Containers · 272 stocks
Beats the industry median on 7/14 measures
A mixed picture versus its industry peers.
Valuation
Quality Score60 · Top 25%
Fair Value upside+16% · Above median
Profitability
Return on equity (TTM)17% · Top 25%
Return on assets6% · Top 25%
Net margin (TTM)5% · Above median
Operating margin (TTM)7% · Above median
Growth and dividend
Revenue growth−4% · Below median
Dividend yield (TTM)0.4% · Bottom 25%
Balance sheet
Debt / equity0.95× · Highest 25%
Valuation Multiplesvs Packaging & Containers 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). "Elopak AS Fair Value". https://www.fairvalue-calculator.com/stock/ELO
Frequently asked questions
Is Elopak AS (ELO) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 42.13 versus a price of kr 36.30, about +16% upside (undervalued).
What is the fair value of ELO?
Our model-based fair value for Elopak AS is kr 42.13 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 36.30.
What is the quality score of ELO?
Elopak AS has a Quality Score of 60/100. 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 Elopak AS (ELO)?
Our model-based price target is the fair value of kr 42.13 (as of Sep 24, 2026) from 25 valuation models. Cautious scenario kr 31.60, optimistic scenario kr 52.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Elopak AS stock forecast for 2026?
Our models put fair value at kr 42.13, about +16% upside versus a price of kr 36.30 (undervalued). Cautious scenario kr 31.60, optimistic scenario kr 52.66. The calculation is refreshed regularly with new filings.
What is the revenue of Elopak AS (ELO)?
Elopak AS reported trailing-twelve-month revenue of about €1.2B (latest available figure, as of Sep 24, 2026).
Does Elopak AS pay a dividend?
Elopak AS currently shows a dividend yield of about 0.36% relative to its recent price (as of Sep 24, 2026).
What growth is priced into Elopak AS (ELO)?
For today's price to be fair in a discounted-cash-flow model, Elopak AS would have to grow free cash flow by -8.8 % 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 +5.8 % per year. As of Sep 24, 2026.
What discount rate (WACC) does the fair value of ELO use?
Our models discount Elopak AS at 10.3 %: a base by market capitalisation (small), damped by beta 0.75, 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 Elopak AS that is -8.8 % 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 Elopak AS (ELO) delivered so far?
Over the past 5 years revenue at Elopak AS grew +5.8 % a year. The price currently implies -8.8 % 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 Elopak AS (ELO) growing?
The median revenue growth in the sector is +3.3 % a year. That is the yardstick for the growth priced into Elopak AS (-8.8 % 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 Elopak AS (ELO)?
The free-cash-flow yield on the price is 18.94 %: that much free cash flow Elopak AS 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 Elopak AS (ELO)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Elopak AS it is kr 42.13 per share (as of Sep 24, 2026), against a price of kr 36.30. It is the blended result of 25 valuation models (cash flow, earnings, asset, dividend).
Is Elopak AS stock overvalued or undervalued in 2026?
As of Sep 24, 2026, ELO trades below its calculated fair value: price kr 36.30, fair value kr 42.13, a gap of about +16% (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 ELO?
No. The price is what the market pays today (kr 36.30); the fair value is what the company's own numbers justify (kr 42.13). For Elopak AS the two are kr 5.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is Elopak AS worth?
The market values Elopak AS at about 9.8B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 36.30; our models calculate a fair value of kr 42.13 per share.
What do the bullish and bearish scenarios say about ELO?
Our models span a range for Elopak AS: cautious scenario kr 31.60, base kr 42.13, optimistic kr 52.66 per share (as of Sep 24, 2026, price kr 36.30). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of ELO?
Elopak AS trades at a price-to-earnings ratio of 13.8 (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 42.13 is built from several models across several years. Other multiples: P/B 3.0, P/S 0.9, EV/EBITDA 8.9.
How solid is the balance sheet of Elopak AS (ELO)?
Balance-sheet figures for Elopak AS (as of Sep 24, 2026): return on equity 16.7%, debt of 0.95 per unit of equity. They feed the Quality Score of 60/100, which measures business quality independently of the share price.
How far is ELO from its 52-week high?
Elopak AS trades at kr 36.30, about 33% below its 52-week high of kr 53.85 and 8% above the low of kr 33.55 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 42.13 is for.
Which stocks are comparable to Elopak AS?
From the same area (Consumer Cyclical) we also value Smurfit Westrock Plc,, Packaging Corporation, International Paper Company, Ball Corporation, 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 Elopak AS stock attractive at the current price?
The data as of Sep 24, 2026: price kr 36.30, calculated fair value kr 42.13 (+16%), Quality Score 60/100, 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 ELO calculated?
We run Elopak AS 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 42.13, 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 14.1 % above its aggregate fair value. Elopak AS currently trades 16 % 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 Elopak AS (ELO)?
The closing price on Sep 23, 2026 was kr 36.30. Our model-based fair value is kr 42.13, about +16% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Elopak AS right now?
The price sits in the lower half of our model range, the side with the larger margin of safety. The data supports the verdict: every model runs on fully documented inputs.
Key figures of Elopak AS
How large is the market capitalisation of Elopak AS (ELO)?
The market capitalisation of Elopak AS is 9.8B NOK (≈ $1.0B). 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 Elopak AS (ELO)?
The price-to-sales ratio of Elopak AS is 0.70 (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 Elopak AS (ELO)?
Earnings per share at Elopak AS are kr 2.63 (price ÷ EPS = P/E 13.8). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Elopak AS (ELO)?
The dividend yield of Elopak AS is 0.4% (payout 5.0%). 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 Elopak AS (ELO)?
The net margin of Elopak AS is 5.1% (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 Elopak AS (ELO)?
The return on equity (ROE) of Elopak AS is 16.7% (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 Elopak AS (ELO)?
On an EBIT basis the return on assets of Elopak AS is 8.2% (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 Elopak AS (ELO)?
The operating margin of Elopak AS is 7.1% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Elopak AS (ELO)?
Revenue at Elopak AS is growing −3.9% versus a year earlier (3y avg +5.6%). 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 Elopak AS (ELO)?
Earnings per share at Elopak AS are growing +0.2% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Elopak AS (ELO) carry?
The net debt of Elopak AS is €264M (fiscal year 2025, ≈ 1.5 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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