Protector Forsikring ASA (PROT) Fair Value & Analysis
Financial Services · NO · Market cap 40.1B NOK (≈ $4.3B) · ISIN NO0010209331
What is Protector Forsikring ASA really worth?
A solid business, but trading 74% above our fair value of kr 273.28.
Strengths
Risks
For context
Fair value as of: Aug 13, 2026
From 6 valuation models · updated 22 days ago
Fair value updated Aug 13, 2026, revised from kr 418.04 to kr 273.28 (−34.6%) since Jul 17, 2026. Share price −2.6% over the past month.
What runs behind every stock
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What matters now
- The price sits above even our optimistic bull case (kr 341.60). The favourable scenario is already priced in.
- Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
- For a financial, book-value and earnings-based methods matter more than a cash-flow DCF, which fits banks and insurers poorly.
Price vs Fair Value (5 years)
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Aug 13, 2026.
How to read this chart
60‑month range kr 59.52 – kr 537.25 · fair‑value band kr 204.96 – kr 341.60 · the kr 475.40 price screens above the kr 273.28 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Aug 13, 2026.
Analysis
Protector Forsikring ASA (PROT) currently trades at kr 475.40, while our model-based Fair Value estimate is kr 273.28, implying the stock looks roughly 74.0% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Financial Services sector. Bull case: the Economic Profit group reads highest at a median of kr 316.76 per share, and 0 of the 6 models we run sit above the kr 475.40 price. Bear case: the Asset-Based group reads lowest at kr 62.46, and 6 of the 6 models stay below the price. Evidence for this calculation is high.
Over the trailing twelve months, Protector Forsikring ASA generated revenue of 14.3B NOK at a net margin of 14.4%. Revenue declined 9.6% year over year. It earns a return on equity of 31.5%. Net debt stands at 1.4B NOK. Fundamentals as of Aug 13, 2026
Our scenario range runs from kr 204.96 (bear case) to kr 341.60 (bull case); at kr 475.40, 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 13% below its 52-week high and 24% above its 52-week low, currently below its 200-day average. For context, the median of 10 Financial Services peers we cover trades at 27% fair-value upside, at −43%, PROT screens richer than that median.
Fair Value models
This estimate rests on fiscal year 2025 figures, and about 8 months have passed since. In that time the company retained roughly kr 8.70 per share, which is 3.2 % of the fair value. The fair value deliberately does not add this in: the models value reported figures, not a projection.
Each model estimates fair value its own way; the Fair Value above is the evidence-weighted, family-balanced 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. Every input is real reported data, nothing guessed.
All 6 models by family
Widest divergence: Economic Profit (kr 316.76) versus Asset-Based (kr 62.46). Highest evidence: Gordon GGM (66).
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Key figures & financial health
More key figures
Figures from reported company fundamentals · as of Aug 13, 2026. TTM = trailing twelve months.
Quality Score breakdown
Of which business quality 54 · Market factors (momentum, volatility) 56
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.
All values are scores from 0 to 100 (100 = best against fixed, research-based bands), not percentages. The three market factors (momentum, 52-week proximity, low volatility) are displayed but carry zero weight in the headline number: market sentiment is not a business property.
About the company
Protector Forsikring ASA, operates as a non-life insurance company, provides general insurance and reinsurance services in Norway, Sweden, Finland, Denmark, the United Kingdom and France. The company provides personal, motor, property, liability, and change of ownership insurances.
Full company description
Protector Forsikring ASA, operates as a non-life insurance company, provides general insurance and reinsurance services in Norway, Sweden, Finland, Denmark, the United Kingdom and France. The company provides personal, motor, property, liability, and change of ownership insurances. It offers services to commercial lines of business, public sector, and affinity schemes through insurance brokers and agents. Protector Forsikring ASA was incorporated in 2003 and is headquartered in Oslo, Norway.
Company description, as reported by the company or data provider.
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Protector Forsikring ASA reported revenue of 14.9B NOK in FY2025 versus 5.9B NOK in FY2021, a compound +26.3%/yr. Reported net income was 2.6B NOK in FY2025, compounding +21.1%/yr from FY2021.
of which total revenue +17.0 % · buybacks/dilution +0.0 %
Annual growth per factor. These are factors, not summands: multiplied they give the EPS growth rate, added they do not quite. Start and end points are 3-year averages (details on hover).
PROT screens 74% overvalued. Compare with Fidelity National Financial, Inc →
Earlier news
External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.
- Protector Forsikring ASA (PSKRF) Q2 2026 Earnings Call Highlights: Strong Profitability Amid ...
- AM Best Affirms Credit Ratings of Protector Forsikring ASA
- Protector Forsikring ASA (PSKRF) Q4 2025 Earnings Call Highlights: Strong Growth and Investment ...
- Protector Forsikring ASA (PSKRY) Q3 2025 Earnings Call Highlights: Strong Profitability Amidst ...
Peer Group
Insurance - Specialty · 29 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 Insurance - Specialty median · lower = cheaper
Strength profile in five axes (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.
Insider activity: 45/100
Values & ESG
Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.
Similar stocks
10 more Insurance - Specialty stocks, each showing price versus our Fair Value estimate (as of Aug 13, 2026).
| Stock | Price | Fair Value | vs Fair Value |
|---|---|---|---|
| Fidelity National Financial, Inc FNF | $46.45 | $29.08 | −37% |
| AXIS Capital Holdings AXS | $99.80 | $139.49 | +40% |
| First American Financial Corporation FAF | $73.59 | $64.26 | −13% |
| Enact Holdings ACT | $49.07 | $58.14 | +18% |
| MGIC Investment Corporation MTG | $31.29 | $39.71 | +27% |
| Essent Group ESNT | $69.27 | $91.14 | +32% |
| Radian Group RDN | $35.80 | $53.56 | +50% |
| Assured Guaranty Ltd AGO | $74.46 | $148.92 | +100% |
| NMI Holdings NMIH | $44.80 | $56.53 | +26% |
| nib holdings limited, NHF | A$7.40 | A$3.56 | −52% |
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