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BLUENORD ASA (BNOR.OL) Stock Fundamental Analysis

Europe - Euronext Oslo - OSL:BNOR - NO0010379266 - Common Stock

429.5 NOK
-5.5 (-1.26%)
Last: 1/7/2026, 7:00:00 PM
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to BNOR. BNOR was compared to 72 industry peers in the Oil, Gas & Consumable Fuels industry. BNOR has an average financial health and profitability rating. BNOR has a decent growth rate and is not valued too expensively.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

In the past year BNOR has reported negative net income.
In the past year BNOR had a positive cash flow from operations.
The reported net income has been mixed in the past 5 years: BNOR reported negative net income in multiple years.
BNOR had a positive operating cash flow in each of the past 5 years.
BNOR.OL Yearly Net Income VS EBIT VS OCF VS FCFBNOR.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M

1.2 Ratios

With a Return On Assets value of -0.80%, BNOR is not doing good in the industry: 77.78% of the companies in the same industry are doing better.
BNOR's Return On Equity of -3.29% is on the low side compared to the rest of the industry. BNOR is outperformed by 77.78% of its industry peers.
BNOR's Return On Invested Capital of 5.97% is in line compared to the rest of the industry. BNOR outperforms 50.00% of its industry peers.
Measured over the past 3 years, the Average Return On Invested Capital for BNOR is in line with the industry average of 8.96%.
Industry RankSector Rank
ROA -0.8%
ROE -3.29%
ROIC 5.97%
ROA(3y)0.08%
ROA(5y)-0.18%
ROE(3y)-0.58%
ROE(5y)-1.96%
ROIC(3y)9.38%
ROIC(5y)6.79%
BNOR.OL Yearly ROA, ROE, ROICBNOR.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 -100 200 -200 300

1.3 Margins

With a decent Operating Margin value of 27.67%, BNOR is doing good in the industry, outperforming 70.83% of the companies in the same industry.
In the last couple of years the Operating Margin of BNOR has grown nicely.
The Gross Margin of BNOR (57.61%) is better than 68.06% of its industry peers.
BNOR's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 27.67%
PM (TTM) N/A
GM 57.61%
OM growth 3Y7.98%
OM growth 5Y29.98%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.05%
GM growth 5Y2.78%
BNOR.OL Yearly Profit, Operating, Gross MarginsBNOR.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2K -2K -4K

5

2. Health

2.1 Basic Checks

With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), BNOR is creating some value.
The number of shares outstanding for BNOR has been increased compared to 1 year ago.
The number of shares outstanding for BNOR has been increased compared to 5 years ago.
BNOR has a worse debt/assets ratio than last year.
BNOR.OL Yearly Shares OutstandingBNOR.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 5M 10M 15M 20M 25M
BNOR.OL Yearly Total Debt VS Total AssetsBNOR.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 1B 2B 3B

2.2 Solvency

BNOR has a debt to FCF ratio of 4.73. This is a neutral value as BNOR would need 4.73 years to pay back of all of its debts.
BNOR has a Debt to FCF ratio of 4.73. This is in the better half of the industry: BNOR outperforms 66.67% of its industry peers.
BNOR has a Debt/Equity ratio of 1.48. This is a high value indicating a heavy dependency on external financing.
The Debt to Equity ratio of BNOR (1.48) is worse than 81.94% of its industry peers.
Industry RankSector Rank
Debt/Equity 1.48
Debt/FCF 4.73
Altman-Z N/A
ROIC/WACC0.71
WACC8.41%
BNOR.OL Yearly LT Debt VS Equity VS FCFBNOR.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 200M 400M 600M 800M 1B

2.3 Liquidity

BNOR has a Current Ratio of 3.36. This indicates that BNOR is financially healthy and has no problem in meeting its short term obligations.
BNOR has a Current ratio of 3.36. This is amongst the best in the industry. BNOR outperforms 90.28% of its industry peers.
A Quick Ratio of 2.88 indicates that BNOR has no problem at all paying its short term obligations.
BNOR's Quick ratio of 2.88 is amongst the best of the industry. BNOR outperforms 88.89% of its industry peers.
Industry RankSector Rank
Current Ratio 3.36
Quick Ratio 2.88
BNOR.OL Yearly Current Assets VS Current LiabilitesBNOR.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 100M 200M 300M 400M 500M

4

3. Growth

3.1 Past

The earnings per share for BNOR have decreased strongly by -273.91% in the last year.
Looking at the last year, BNOR shows a very strong growth in Revenue. The Revenue has grown by 25.57%.
Measured over the past years, BNOR shows a quite strong growth in Revenue. The Revenue has been growing by 16.10% on average per year.
EPS 1Y (TTM)-273.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-52.38%
Revenue 1Y (TTM)25.57%
Revenue growth 3Y7.52%
Revenue growth 5Y16.1%
Sales Q2Q%44.54%

3.2 Future

The Earnings Per Share is expected to grow by 30.91% on average over the next years. This is a very strong growth
BNOR is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.68% yearly.
EPS Next Y216.55%
EPS Next 2Y117.44%
EPS Next 3Y63.86%
EPS Next 5Y30.91%
Revenue Next Year41.51%
Revenue Next 2Y31%
Revenue Next 3Y17.54%
Revenue Next 5Y5.68%

3.3 Evolution

When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
BNOR.OL Yearly Revenue VS EstimatesBNOR.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 200M 400M 600M 800M 1B
BNOR.OL Yearly EPS VS EstimatesBNOR.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0 10 -10

6

4. Valuation

4.1 Price/Earnings Ratio

The Price/Earnings Ratio is negative for BNOR. In the last year negative earnings were reported.
The Price/Forward Earnings ratio is 5.62, which indicates a rather cheap valuation of BNOR.
Based on the Price/Forward Earnings ratio, BNOR is valued cheaper than 95.83% of the companies in the same industry.
BNOR is valuated cheaply when we compare the Price/Forward Earnings ratio to 23.57, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 5.62
BNOR.OL Price Earnings VS Forward Price EarningsBNOR.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 -20

4.2 Price Multiples

Based on the Enterprise Value to EBITDA ratio, BNOR is valued a bit cheaper than the industry average as 73.61% of the companies are valued more expensively.
Based on the Price/Free Cash Flow ratio, BNOR is valued cheaply inside the industry as 91.67% of the companies are valued more expensively.
Industry RankSector Rank
P/FCF 4.61
EV/EBITDA 4.65
BNOR.OL Per share dataBNOR.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 100 200 300

4.3 Compensation for Growth

BNOR's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
BNOR's earnings are expected to grow with 63.86% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y117.44%
EPS Next 3Y63.86%

0

5. Dividend

5.1 Amount

No dividends for BNOR!.
Industry RankSector Rank
Dividend Yield 0%

BLUENORD ASA

OSL:BNOR (1/7/2026, 7:00:00 PM)

429.5

-5.5 (-1.26%)

Chartmill FA Rating
GICS SectorEnergy
GICS IndustryGroupEnergy
GICS IndustryOil, Gas & Consumable Fuels
Earnings (Last)10-29 2025-10-29/bmo
Earnings (Next)02-10 2026-02-10/amc
Inst Owners46.28%
Inst Owner ChangeN/A
Ins Owners1.13%
Ins Owner ChangeN/A
Market Cap11.38B
Revenue(TTM)870.20M
Net Income(TTM)-25.80M
Analysts78.57
Price Target567.12 (32.04%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 0%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-68.64%
Min EPS beat(2)-82.8%
Max EPS beat(2)-54.48%
EPS beat(4)0
Avg EPS beat(4)-156.12%
Min EPS beat(4)-415.9%
Max EPS beat(4)-54.48%
EPS beat(8)0
Avg EPS beat(8)-116.41%
EPS beat(12)3
Avg EPS beat(12)-76.25%
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)0
Avg Revenue beat(2)-7.48%
Min Revenue beat(2)-12.98%
Max Revenue beat(2)-1.98%
Revenue beat(4)0
Avg Revenue beat(4)-14.34%
Min Revenue beat(4)-33.43%
Max Revenue beat(4)-1.98%
Revenue beat(8)1
Avg Revenue beat(8)-9.31%
Revenue beat(12)4
Avg Revenue beat(12)-5.2%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)0%
PT rev (3m)-2.17%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-8.12%
EPS NY rev (1m)-9.24%
EPS NY rev (3m)-26.97%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.17%
Revenue NY rev (1m)-0.19%
Revenue NY rev (3m)-3.15%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 5.62
P/S 1.3
P/FCF 4.61
P/OCF 3.25
P/B 1.44
P/tB 1.75
EV/EBITDA 4.65
EPS(TTM)-16.13
EYN/A
EPS(NY)76.44
Fwd EY17.8%
FCF(TTM)93.22
FCFY21.7%
OCF(TTM)131.98
OCFY30.73%
SpS330.98
BVpS298.34
TBVpS245.78
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -0.8%
ROE -3.29%
ROCE 7.75%
ROIC 5.97%
ROICexc 6.38%
ROICexgc 6.69%
OM 27.67%
PM (TTM) N/A
GM 57.61%
FCFM 28.17%
ROA(3y)0.08%
ROA(5y)-0.18%
ROE(3y)-0.58%
ROE(5y)-1.96%
ROIC(3y)9.38%
ROIC(5y)6.79%
ROICexc(3y)10.23%
ROICexc(5y)7.37%
ROICexgc(3y)10.87%
ROICexgc(5y)7.85%
ROCE(3y)12.19%
ROCE(5y)8.82%
ROICexgc growth 3Y15.21%
ROICexgc growth 5Y43.84%
ROICexc growth 3Y15.53%
ROICexc growth 5Y45.83%
OM growth 3Y7.98%
OM growth 5Y29.98%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.05%
GM growth 5Y2.78%
F-Score7
Asset Turnover0.27
Health
Industry RankSector Rank
Debt/Equity 1.48
Debt/FCF 4.73
Debt/EBITDA 2.56
Cap/Depr 48.04%
Cap/Sales 11.71%
Interest Coverage 2.04
Cash Conversion 76.62%
Profit Quality N/A
Current Ratio 3.36
Quick Ratio 2.88
Altman-Z N/A
F-Score7
WACC8.41%
ROIC/WACC0.71
Cap/Depr(3y)220.14%
Cap/Depr(5y)197.46%
Cap/Sales(3y)32.67%
Cap/Sales(5y)36.08%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-273.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-52.38%
EPS Next Y216.55%
EPS Next 2Y117.44%
EPS Next 3Y63.86%
EPS Next 5Y30.91%
Revenue 1Y (TTM)25.57%
Revenue growth 3Y7.52%
Revenue growth 5Y16.1%
Sales Q2Q%44.54%
Revenue Next Year41.51%
Revenue Next 2Y31%
Revenue Next 3Y17.54%
Revenue Next 5Y5.68%
EBIT growth 1Y10.46%
EBIT growth 3Y16.1%
EBIT growth 5Y50.9%
EBIT Next Year134.27%
EBIT Next 3Y50.75%
EBIT Next 5Y19.1%
FCF growth 1Y126.53%
FCF growth 3YN/A
FCF growth 5Y-14.92%
OCF growth 1Y-13.9%
OCF growth 3Y84.65%
OCF growth 5Y4.46%

BLUENORD ASA / BNOR.OL FAQ

What is the ChartMill fundamental rating of BLUENORD ASA (BNOR.OL) stock?

ChartMill assigns a fundamental rating of 4 / 10 to BNOR.OL.


What is the valuation status for BNOR stock?

ChartMill assigns a valuation rating of 6 / 10 to BLUENORD ASA (BNOR.OL). This can be considered as Fairly Valued.


What is the profitability of BNOR stock?

BLUENORD ASA (BNOR.OL) has a profitability rating of 4 / 10.


What is the earnings growth outlook for BLUENORD ASA?

The Earnings per Share (EPS) of BLUENORD ASA (BNOR.OL) is expected to grow by 216.55% in the next year.