ShaMaran Petroleum Corp (SNM) fair value: what the stock is really worth
We calculate from audited financials what ShaMaran Petroleum Corp is really worth. The fair value tells you whether the price is too high or too low, the quality score (0 to 100) how solid the business behind it is. 26 models, 37 quality factors, updated daily.
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ShaMaran Petroleum Corp., together with its subsidiaries, engages in oil and gas exploration and production. It holds interest in the Atrush Block production sharing contract in the Kurdistan region of Iraq. The company was incorporated in 1991 and is headquartered in Vancouver, Canada.
Stock analysis
ShaMaran Petroleum Corp (SNM) currently trades at kr 1.39, while our model-based Fair Value estimate is kr 2.78, implying the stock looks roughly 50.0% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 0.3800 per share, and 0 of the 24 models we run sit above the kr 1.39 price.
Bear case: the DCF Models group reads lowest at kr 0.3000, and 24 of the 24 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 1.60 (bear) to kr 4.82 (bull), the price of kr 1.39 sits below 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 72/100 (solid quality), in the Energy sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
ShaMaran Petroleum Corp reported revenue of $155M in FY2025 versus $102M in FY2021, a compound +10.9%/yr. Reported net income was $26.8M in FY2025, compounding +19.0%/yr from FY2021.
Key figures
Market cap 4.0B SEK (≈ $413M) · P/E ratio 9.3 · P/S ratio 1.61 · EPS (TTM) kr 0.1500 · Net margin 17.3% · Return on equity 18.5% · Return on assets (EBIT) 9.7% · Operating margin 53.9%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 47 out of 100 (low confidence).
What moves the price
The share trades about 30% below its 52-week high and 20% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Energy peers we cover trades at 10% fair-value upside, at 100%, SNM 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 0.0300 to kr 0.7000). Read the Fair Value as a cautious anchor, not a price target; the Growth Forecast section shows what the price assumes.
Bear kr 1.60Fair Value kr 2.78Bull kr 4.82
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 8 months old). Earnings retained since then (kr 0.1056 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.40/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+41.6%
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.
−4.3%
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.
+22.3%
Revenue growth 9 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.
+121.6%
’16
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’19
’20
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’23
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’25
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. Basis: EBIT basis.
+9.1%
Earnings growth per share plus dividend.
Earnings per share, growth per year+9.1%
Dividend (yield on the price)0.0%
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.−5% → 32%
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).
+41.0%
Yearly growth needed for the next five years to justify today's price.
Compare ShaMaran Petroleum Corp with another stock
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.Oil & Gas E&P · 302 stocks
Beats the industry median on 9/13 measures
Overall it ranks above its industry peers.
Valuation
Quality Score72 · Top 25%
Fair Value upside−11% · Below median
Profitability
Return on equity (TTM)18% · Top 25%
Return on assets8% · Top 25%
Net margin (TTM)29% · Top 25%
Operating margin (TTM)54% · Top 25%
Growth and dividend
Revenue growth6% · Above median
Balance sheet
Debt / equity0.53× · Above median
Valuation Multiplesvs Oil & Gas E&P median · lower = cheaper
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Is ShaMaran Petroleum Corp (SNM) overvalued or undervalued?
As of Sep 13, 2026, our model estimates a fair value of kr 2.78 versus the last price from Jul 17, 2026 of kr 1.39, about +100% upside (undervalued).
What is the fair value of SNM?
Our model-based fair value for ShaMaran Petroleum Corp is kr 2.78 (as of Sep 13, 2026), built from audited fundamentals. Last price (from Jul 17, 2026): kr 1.39.
What is the quality score of SNM?
ShaMaran Petroleum Corp has a Quality Score of 72/100. 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 ShaMaran Petroleum Corp (SNM)?
Our model-based price target is the fair value of kr 2.78 (as of Sep 13, 2026) from 24 valuation models. Cautious scenario kr 1.60, optimistic scenario kr 4.82. It is a calculation from audited fundamentals, not an analyst target.
What is the ShaMaran Petroleum Corp stock forecast for 2026?
Our models put fair value at kr 2.78, about +100% upside versus the last price from Jul 17, 2026 of kr 1.39 (undervalued). Cautious scenario kr 1.60, optimistic scenario kr 4.82. The calculation is refreshed regularly with new filings.
What is the revenue of ShaMaran Petroleum Corp (SNM)?
ShaMaran Petroleum Corp reported trailing-twelve-month revenue of about 157M SEK (latest available figure, as of Sep 13, 2026).
What growth is priced into ShaMaran Petroleum Corp (SNM)?
For today's price to be fair in a discounted-cash-flow model, ShaMaran Petroleum Corp would have to grow free cash flow by +41.0 % per year for five years (discount rate 12.4 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +22.3 % per year. As of Sep 13, 2026.
What discount rate (WACC) does the fair value of SNM use?
Our models discount ShaMaran Petroleum Corp at 12.4 %: a base by market capitalisation (small), damped by beta 1.49, country premium for Sweden. 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 ShaMaran Petroleum Corp that is +41.0 % per year a year over ten years, using the same discount rate (12.4 %) and the same formula as our fair value.
How much growth has ShaMaran Petroleum Corp (SNM) delivered so far?
Over the past 5 years revenue at ShaMaran Petroleum Corp grew +22.3 % a year. The price currently implies +41.0 % 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 ShaMaran Petroleum Corp (SNM) growing?
The median revenue growth in the sector is +1.9 % a year. That is the yardstick for the growth priced into ShaMaran Petroleum Corp (+41.0 % 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 ShaMaran Petroleum Corp (SNM)?
The free-cash-flow yield on the price is 1.51 %: that much free cash flow ShaMaran Petroleum Corp produces per unit of market value. When it exceeds the discount rate of our models (12.4 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of ShaMaran Petroleum Corp (SNM)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For ShaMaran Petroleum Corp it is kr 2.78 per share (as of Sep 13, 2026), against a price of kr 1.39. It is the blended result of 24 valuation models (cash flow, earnings, asset, dividend).
Is ShaMaran Petroleum Corp stock overvalued or undervalued in 2026?
As of Sep 13, 2026, SNM trades below its calculated fair value: price kr 1.39, fair value kr 2.78, a gap of about +100% (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 SNM?
No. The price is what the market pays today (kr 1.39); the fair value is what the company's own numbers justify (kr 2.78). For ShaMaran Petroleum Corp the two are kr 1.39 per share apart. That gap is exactly why we show both numbers side by side.
How much is ShaMaran Petroleum Corp worth?
The market values ShaMaran Petroleum Corp at about 4.0B SEK (market capitalisation, as of Sep 13, 2026). Per share that is kr 1.39; our models calculate a fair value of kr 2.78 per share.
What do the bullish and bearish scenarios say about SNM?
Our models span a range for ShaMaran Petroleum Corp: cautious scenario kr 1.60, base kr 2.78, optimistic kr 4.82 per share (as of Sep 13, 2026, price kr 1.39). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of SNM?
ShaMaran Petroleum Corp trades at a price-to-earnings ratio of 9.3 (as of Sep 13, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 2.78 is built from several models across several years. Other multiples: P/B 1.7, P/S 2.7, EV/EBITDA 4.7.
How solid is the balance sheet of ShaMaran Petroleum Corp (SNM)?
Balance-sheet figures for ShaMaran Petroleum Corp (as of Sep 13, 2026): return on equity 18.5%, debt of 0.53 per unit of equity. They feed the Quality Score of 72/100, which measures business quality independently of the share price.
How far is SNM from its 52-week high?
ShaMaran Petroleum Corp trades at kr 1.39, about 30% below its 52-week high of kr 1.99 and 20% above the low of kr 1.16 (as of Sep 13, 2026). Distance from the high says nothing about value: that is what the fair value of kr 2.78 is for.
Which stocks are comparable to ShaMaran Petroleum Corp?
From the same area (Energy) we also value CNOOC Limited, ConocoPhillips explores for,, Canadian Natural Resources Limited, EOG Resources, Inc, 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 ShaMaran Petroleum Corp stock attractive at the current price?
The data as of Sep 13, 2026: price kr 1.39, calculated fair value kr 2.78 (+100%), Quality Score 72/100, from 24 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 SNM calculated?
We run ShaMaran Petroleum Corp through 24 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 2.78, 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 15.8 % above its aggregate fair value. ShaMaran Petroleum Corp currently trades 100 % 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 should I pay attention to with ShaMaran Petroleum Corp right now?
The rarer combination: high quality (72/100) AND below fair value. That earns a closer look rather than a quick verdict. The price is below even our cautious bear case (kr 1.60). The market is more pessimistic than our downside scenario. The model range is unusually wide (kr 1.60 to kr 4.82). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution.
Key figures of ShaMaran Petroleum Corp
How large is the market capitalisation of ShaMaran Petroleum Corp (SNM)?
The market capitalisation of ShaMaran Petroleum Corp is 4.0B SEK (≈ $413M). 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 ShaMaran Petroleum Corp (SNM)?
The price-to-sales ratio of ShaMaran Petroleum Corp is 1.61 (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 ShaMaran Petroleum Corp (SNM)?
Earnings per share at ShaMaran Petroleum Corp are kr 0.1500 (price ÷ EPS = P/E 9.3). Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of ShaMaran Petroleum Corp (SNM)?
The net margin of ShaMaran Petroleum Corp is 17.3% (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 ShaMaran Petroleum Corp (SNM)?
The return on equity (ROE) of ShaMaran Petroleum Corp is 18.5% (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 ShaMaran Petroleum Corp (SNM)?
On an EBIT basis the return on assets of ShaMaran Petroleum Corp is 9.7% (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 ShaMaran Petroleum Corp (SNM)?
The operating margin of ShaMaran Petroleum Corp is 53.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at ShaMaran Petroleum Corp (SNM)?
Revenue at ShaMaran Petroleum Corp is growing +6.0% versus a year earlier (3y avg −4.3%). 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 ShaMaran Petroleum Corp (SNM)?
Earnings per share at ShaMaran Petroleum Corp are growing +279% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does ShaMaran Petroleum Corp (SNM) carry?
The net debt of ShaMaran Petroleum Corp is 104M SEK (fiscal year 2025, ≈ 1.7 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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