REC SILICON ASA |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 11.28 NOK | +6.02% |
|
+4.16% | -19.43% |
| Apr. 24 | US Solar Manufacturers Petition Regulators to Impose Sanctions on Southeast Asian Imports | MT |
| Apr. 24 | US solar panel makers seek new tariffs to protect domestic factories | RE |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 749.4 | 5,996 | 6,677 | 5,882 | 5,889 | 4,745 | - | - |
| Enterprise Value (EV) 1 | 1,870 | 6,107 | 7,454 | 6,693 | 7,830 | 6,864 | 6,986 | 6,069 |
| P/E ratio | - | -11.9 x | -25.2 x | -6.45 x | 18.9 x | -62.7 x | 5.57 x | 4.55 x |
| Yield | - | - | - | - | - | - | - | - |
| Capitalization / Revenue | 0.51 x | 5.79 x | 5.23 x | 3.86 x | 3.95 x | 1.28 x | 0.83 x | 0.74 x |
| EV / Revenue | 1.26 x | 5.9 x | 5.84 x | 4.39 x | 5.25 x | 1.85 x | 1.23 x | 0.95 x |
| EV / EBITDA | -15.7 x | 30.3 x | 109 x | -18.6 x | -9.2 x | 11.5 x | 3.87 x | 2.94 x |
| EV / FCF | -13.5 x | -202 x | -36.2 x | -6.62 x | -3.18 x | -38.2 x | -54.8 x | 6.57 x |
| FCF Yield | -7.42% | -0.5% | -2.76% | -15.1% | -31.4% | -2.62% | -1.82% | 15.2% |
| Price to Book | - | - | 22.3 x | 9.26 x | - | 6.47 x | 2.99 x | 1.8 x |
| Nbr of stocks (in thousands) | 279,820 | 372,413 | 372,413 | 420,626 | 420,626 | 420,626 | - | - |
| Reference price 2 | 2.678 | 16.10 | 17.93 | 13.98 | 14.00 | 11.28 | 11.28 | 11.28 |
| Announcement Date | 2/14/20 | 2/18/21 | 2/18/22 | 2/23/23 | 2/8/24 | - | - | - |
1NOK in Million2NOK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 1,482 | 1,036 | 1,276 | 1,525 | 1,492 | 3,705 | 5,703 | 6,389 |
| EBITDA 1 | -119.4 | 201.9 | 68.61 | -360.2 | -851 | 597 | 1,804 | 2,065 |
| EBIT 1 | -764 | -330 | -182.7 | -601.7 | -1,088 | 215.7 | 1,381 | 1,628 |
| Operating Margin | -51.54% | -31.86% | -14.32% | -39.45% | -72.93% | 5.82% | 24.21% | 25.49% |
| Earnings before Tax (EBT) 1 | - | -587.8 | -387.6 | -897.8 | 322.4 | -15.49 | 1,136 | 1,392 |
| Net income 1 | -1,175 | -396.1 | -268.2 | -895.8 | 322.4 | -75.66 | 852.1 | 1,044 |
| Net margin | -79.25% | -38.25% | -21.02% | -58.73% | 21.62% | -2.04% | 14.94% | 16.34% |
| EPS 2 | - | -1.357 | -0.7129 | -2.167 | 0.7400 | -0.1800 | 2.026 | 2.481 |
| Free Cash Flow 1 | -138.7 | -30.24 | -205.7 | -1,011 | -2,460 | -179.5 | -127.4 | 923.8 |
| FCF margin | -9.36% | -2.92% | -16.12% | -66.31% | -164.93% | -4.85% | -2.23% | 14.46% |
| FCF Conversion (EBITDA) | - | - | - | - | - | - | - | 44.74% |
| FCF Conversion (Net income) | - | - | - | - | - | - | - | 88.51% |
| Dividend per Share 2 | - | - | - | - | - | - | - | - |
| Announcement Date | 2/14/20 | 2/18/21 | 2/18/22 | 2/23/23 | 2/8/24 | - | - | - |
1NOK in Million2NOK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2021 Q3 | 2021 Q4 | 2022 Q1 | 2022 Q2 | 2022 Q3 | 2022 Q4 | 2023 Q1 | 2023 Q2 | 2023 Q3 | 2023 Q4 | 2024 Q1 | 2024 Q2 | 2024 Q3 | 2024 Q4 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 302.4 | 385 | 330.6 | 435.5 | 365.3 | 326.1 | 310 | 384.1 | 375.3 | 428.2 | 628 | 823.9 | 1,054 | 1,199 |
| EBITDA 1 | -30.91 | -3.564 | 34.39 | -10.65 | -137.4 | -243.6 | -245 | -88.97 | -192 | -329.8 | -64.89 | 94.89 | 227.2 | 339.8 |
| EBIT 1 | -89.4 | -65.94 | -35.35 | -74.52 | -195.1 | -281.7 | -284.4 | -127.7 | -230.8 | -450.4 | -149.6 | 10.15 | 121.3 | 233.8 |
| Operating Margin | -29.56% | -17.13% | -10.69% | -17.11% | -53.41% | -86.39% | -91.75% | -33.24% | -61.49% | -105.19% | -23.83% | 1.23% | 11.51% | 19.51% |
| Earnings before Tax (EBT) 1 | -137 | -116.7 | -84.08 | -228.4 | -284.7 | -268.3 | -366.5 | -153.9 | -267.4 | 1,104 | -209.8 | -46.41 | 64.82 | 175.9 |
| Net income 1 | -25.06 | -116.7 | -82.17 | -228.4 | -284.7 | -268.3 | -366.5 | -153.9 | -267.4 | 1,104 | -209.8 | -46.41 | 48.61 | 131.9 |
| Net margin | -8.29% | -30.32% | -24.86% | -52.44% | -77.93% | -82.28% | -118.21% | -40.05% | -71.26% | 257.78% | -33.4% | -5.63% | 4.61% | 11% |
| EPS 2 | -0.0836 | -0.3564 | -0.1911 | -0.5807 | -0.6968 | -0.6192 | -0.8522 | -0.3140 | -0.6470 | 2.643 | -0.4990 | -0.1100 | 0.1160 | 0.3140 |
| Dividend per Share 2 | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
| Announcement Date | 10/20/21 | 2/18/22 | 5/26/22 | 8/17/22 | 11/16/22 | 2/23/23 | 5/11/23 | 8/15/23 | 11/15/23 | 2/8/24 | - | - | - | - |
1NOK in Million2NOK
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 1,121 | 111 | 777 | 810 | 1,941 | 2,119 | 2,241 | 1,325 |
| Net Cash position 1 | - | - | - | - | - | - | - | - |
| Leverage (Debt/EBITDA) | -9.392 x | 0.5521 x | 11.32 x | -2.249 x | -2.281 x | 3.549 x | 1.242 x | 0.6416 x |
| Free Cash Flow 1 | -139 | -30.2 | -206 | -1,011 | -2,460 | -180 | -127 | 924 |
| ROE (net income / shareholders' equity) | -236% | -156% | - | - | - | - | 73.5% | 49.5% |
| ROA (Net income/ Total Assets) | - | - | - | - | - | - | - | - |
| Assets 1 | - | - | - | - | - | - | - | - |
| Book Value Per Share 2 | - | - | 0.8000 | 1.510 | - | 1.740 | 3.770 | 6.250 |
| Cash Flow per Share | - | - | - | - | - | - | - | - |
| Capex 1 | 18.5 | 11.2 | 74.5 | 577 | 1,547 | 380 | 422 | 433 |
| Capex / Sales | 1.25% | 1.08% | 5.84% | 37.82% | 103.71% | 10.26% | 7.41% | 6.78% |
| Announcement Date | 2/14/20 | 2/18/21 | 2/18/22 | 2/23/23 | 2/8/24 | - | - | - |
1NOK in Million2NOK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
C
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
1
Last Close Price
11.28
NOK
Average target price
25
NOK
Spread / Average Target
+121.63%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| -19.43% | 430M | |
| +7.91% | 213B | |
| -13.78% | 52.48B | |
| +20.42% | 12.5B | |
| +48.18% | 8.54B | |
| -1.75% | 3.9B | |
| +21.44% | 3.39B | |
| +25.90% | 3.39B | |
| -9.74% | 1.87B | |
| +6.68% | 1.71B |
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- Financials REC Silicon ASA
