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Noram Drilling AS
OSE:NORAM

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Noram Drilling AS
OSE:NORAM
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Price: 35.5 NOK -1.66%
Market Cap: 1.5B NOK
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Intrinsic Value

The intrinsic value of one NORAM stock under the Base Case scenario is 42.19 NOK. Compared to the current market price of 35.5 NOK, Noram Drilling AS is Undervalued by 16%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

NORAM Intrinsic Value
42.19 NOK
Undervaluation 16%
Intrinsic Value
Price
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Worst Case
Base Case
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Noram Drilling AS

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Fundamental Analysis

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Balance Sheet Decomposition
Noram Drilling AS

Current Assets 22.7m
Cash & Short-Term Investments 10.5m
Receivables 11.4m
Other Current Assets 765k
Non-Current Assets 69.1m
PP&E 69.1m
Current Liabilities 13.2m
Accounts Payable 5.2m
Other Current Liabilities 8m
Non-Current Liabilities 4.9m
Other Non-Current Liabilities 4.9m
Efficiency

Earnings Waterfall
Noram Drilling AS

Revenue
110.6m USD
Cost of Revenue
-29m USD
Gross Profit
81.6m USD
Operating Expenses
-67.6m USD
Operating Income
14.1m USD
Other Expenses
-2.6m USD
Net Income
11.5m USD

Free Cash Flow Analysis
Noram Drilling AS

Last Value
3-Years Average
FCF Margin
Conversion Rate
Fundamental Scores

NORAM Profitability Score
Profitability Due Diligence

Noram Drilling AS's profitability score is 53/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional 3-Years Revenue Growth
Positive Free Cash Flow
ROE is Increasing
53/100
Profitability
Score

Noram Drilling AS's profitability score is 53/100. The higher the profitability score, the more profitable the company is.

NORAM Solvency Score
Solvency Due Diligence

Noram Drilling AS's solvency score is 75/100. The higher the solvency score, the more solvent the company is.

High Altman Z-Score
Long-Term Solvency
Low D/E
Short-Term Solvency
75/100
Solvency
Score

Noram Drilling AS's solvency score is 75/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NORAM Price Targets Summary
Noram Drilling AS

Wall Street analysts forecast NORAM stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NORAM is 42.84 NOK with a low forecast of 37.37 NOK and a high forecast of 49.35 NOK.

Lowest
Price Target
37.37 NOK
5% Upside
Average
Price Target
42.84 NOK
21% Upside
Highest
Price Target
49.35 NOK
39% Upside
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Dividends

Dividend Yield
Lowest
Average
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Dividend Per Share
N/A
Growth 3Y
Growth 5Y
Growth 10Y
Dividend Safety Score
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Safe
0
25
50
75
100
Shareholder Yield

Current shareholder yield for NORAM is .

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Debt Paydown Yield
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Profile

Noram Drilling AS

Country

Norway

Industry

Energy

Market Cap

1.6B NOK

Dividend Yield

15.39%

Description

NorAm Drilling AS engages in the ownership and operation of land-based oil and gas drilling rigs. The company is headquartered in Oslo, Oslo. The company went IPO on 2007-05-15. The firm owns and operates a portfolio of eleven advanced drilling rigs upgraded to maximize drilling efficiency in the Permian Basin in Texas, which is the biggest oil producing region in North America. These rigs are designed to combine the cost efficiency of a compact rig with the versatility of different rig classes, enabling the rigs to cover a broad range of wells for both liquids and gas. NorAm focuses solely on the US land drilling market and has established a solid foothold in the lower US, with operating experience in Louisiana, New Mexico, Oklahoma and Texas. All eleven rigs are operating in Texas in the Permian Basin.

Contact

OSLO
Oslo
Bryggegata 3, PO Box 1327 Vika
+4723114000
www.noramdrilling.com

IPO

2007-05-15

Employees

60

Officers

CEO & CFO
Mr. Martin L. Jimmerson Jr.
Chief Operating Officer
Mr. Thomas Taylor
Director of Investor Relations & Strategy
Mr. Marius Furuly
Human Resources Manager
Ms. Phyllis Menard

See Also

Discover More
What is the Intrinsic Value of one NORAM stock?

The intrinsic value of one NORAM stock under the Base Case scenario is 42.19 NOK.

Is NORAM stock undervalued or overvalued?

Compared to the current market price of 35.5 NOK, Noram Drilling AS is Undervalued by 16%.

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