Petronor E&P Ltd (PNOR) Fair Value & Analysis
Energy · NO · Market cap 1.5B NOK
Strengths
Risks
Fair value as of: Aug 21, 2026
From 24 valuation models · updated today
Fair value updated Aug 21, 2026, revised from kr 0.8600 to kr 6.69 (+677.9%) since Aug 13, 2026. Share price +5.6% over the past month.
A solid business, but screening 41% overvalued on our models.
What matters now
- The price sits above even our optimistic bull case (kr 8.36). The favourable scenario is already priced in.
- Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 21, 2026.
How to read this chart
54‑month range kr 3.75 – kr 14.81 · fair‑value band kr 5.88 – kr 8.36 · the kr 11.38 price screens above the kr 6.69 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 21, 2026.
Analysis
Petronor E&P Ltd (PNOR) currently trades at kr 11.38, while our model-based Fair Value estimate is kr 6.69, implying the stock looks roughly 41.2% overvalued today. The Quality Score stands at 66/100 (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: medium).
Over the trailing twelve months, Petronor E&P Ltd generated revenue of 80.7M NOK at a net margin of 3.2%. Revenue declined 17.3% year over year. It earns a return on equity of 3.7%. The balance sheet holds a net cash position of 40.7M NOK. Fundamentals as of Aug 21, 2026
Our scenario range runs from kr 5.88 (bear case) to kr 8.36 (bull case); at kr 11.38, the current price sits above 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 24% below its 52-week high and 46% above its 52-week low, currently below its 200-day average. For context, the median of 10 Energy peers we cover trades at -33% fair-value upside, at -41%, PNOR screens richer 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 24 models by family
Widest divergence: DCF Models (kr 2.38) versus Earnings-Based (kr 0.4600). Highest evidence: Growth DCF (80).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 21, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 68 · Market factors (momentum, volatility) 63
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.
About the company
PetroNor E&P ASA operates as an independent oil and gas exploration and production company in the Republic of Congo, the Gambia, and Nigeria. The company was founded in 2017 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Petronor E&P Ltd reported revenue of kr 83.1M in FY2025 versus kr 106M in FY2021, a compound −6.0%/yr. Reported net income was kr 7.3M in FY2025, compounding −12.3%/yr from FY2021.
PNOR screens 41% overvalued. Compare with CNOOC Limited →
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.
VALUE 0: the price sits above our fair-value range.
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 21, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| CNOOC Limited 600938 | ¥32.85 | ¥32.55 | -1% |
| ConocoPhillips explores for, COP | $126.78 | $90.15 | -29% |
| Canadian Natural Resources Limited CNQ | C$66.38 | C$44.23 | -33% |
| EOG Resources, Inc EOG | $143.14 | $130.19 | -9% |
| Occidental Petroleum Corporation OXY | $58.55 | $30.06 | -49% |
| Diamondback Energy, Inc FANG | $210.02 | $105.24 | -50% |
| Devon Energy Corporation DVN | $44.86 | $27.06 | -40% |
| Woodside Energy Group WDS | A$32.55 | A$20.71 | -36% |
| EQT Corporation EQT | $54.06 | $42.85 | -21% |
| Texas Pacific Land Corporation TPL | $342.77 | $77.26 | -77% |
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Frequently asked questions
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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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