Company Valuation: Nel ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Capitalization 1 22,213 21,654 11,513 4,518 4,103 3,849 - -
Change - -2.51% -46.83% -60.75% -9.2% -6.18% - -
Enterprise Value (EV) 1 19,513 21,654 8,172 2,903 4,103 2,910 3,130 3,793
Change - 10.97% -62.26% -64.48% 41.34% -29.07% 7.55% 21.2%
P/E ratio -13.2x -18.2x -13.3x -18x -3.19x -8.09x -10.3x -13.3x
PBR 4.38x - 1.84x 0.91x - 1.05x 1.01x 1.27x
PEG - 0.5x 0.4x 0.3x -0x 0.1x 0.5x 0.6x
Capitalization / Revenue 27.8x 21.8x 6.49x 3.02x 3.73x 4.42x 2.62x 2.37x
EV / Revenue 24.5x 21.8x 4.61x 1.94x 3.73x 3.34x 2.13x 2.33x
EV / EBITDA -41.1x -27.8x -17.2x -16.8x -14.9x -10.6x -22.1x -23.7x
EV / EBIT -33.5x -16.9x -11.7x -7.45x -3.01x -5.56x -7.6x -9.93x
EV / FCF -23.6x - -5.8x -3.52x - -5.32x -4.67x -21.6x
FCF Yield -4.24% - -17.2% -28.4% - -18.8% -21.4% -4.64%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -0.76 -0.52 -0.15 -0.7 -0.2588 -0.2034 -0.1575
Distribution rate - - - - - - - -
Net sales 1 798 993.6 1,773 1,495 1,100 871.4 1,469 1,624
EBITDA 1 -475.2 -779.9 -473.7 -172.9 -274.8 -275.8 -141.8 -160
EBIT 1 -582.9 -1,279 -699.5 -389.4 -1,365 -523.2 -411.7 -381.8
Net income 1 -1,667 -1,171 -855.2 -244.3 -1,265 -486.4 -388.4 -259.2
Net Debt 1 -2,700 - -3,341 -1,616 - -939 -719.3 -55.82
Reference price 2 15.210 13.855 6.890 2.704 2.232 2.094 2.094 2.094
Nbr of stocks (in thousands) 1,460,396 1,562,907 1,670,907 1,670,907 1,838,040 1,838,040 - -
Announcement Date 2/16/22 2/28/23 2/28/24 2/26/25 2/26/26 - - -
1NOK in Million2NOK
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-8.08x3.33x-10.52x-.--% 397M
39.57x2.83x19.5x1.12% 151B
23.32x3.56x17.47x0.84% 51.73B
44.15x1.31x18.02x1.18% 6.93B
-7.75x1.03x57.55x-.--% 6.63B
116.09x - - 0.18% 3.53B
26.04x - - 0.81% 2.21B
29.89x0.93x6.27x-.--% 1.04B
Average 32.90x 2.17x 18.05x 0.52% 27.87B
Weighted average by Cap. 35.48x 2.89x 20.02x 1%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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