Company Valuation: Atea ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,290 12,608 14,351 15,813 17,584 18,343 - -
Change - -31.06% 13.82% 10.19% 11.2% 4.32% - -
Enterprise Value (EV) 1 18,459 13,689 15,312 17,195 18,559 18,136 17,777 17,430
Change - -25.84% 11.86% 12.3% 7.93% -2.28% -1.98% -1.95%
P/E 24.5x 15.1x 18.1x 20.6x 20.4x 15.1x 14.2x 13x
PBR 5.18x 3.38x 3.46x 3.59x 3.94x 4.33x 3.99x 3.73x
PEG - 1.2x -3.19x -5.45x 1.6x 0.4x 2.12x 1.4x
Capitalization / Revenue 0.44x 0.39x 0.41x 0.46x 0.47x 0.44x 0.42x 0.4x
EV / Revenue 0.45x 0.42x 0.44x 0.5x 0.5x 0.43x 0.41x 0.38x
EV / EBITDA 11.1x 7.56x 7.93x 9.01x 8.61x 7.66x 6.71x 6.15x
EV / EBIT 17.6x 11.4x 12.3x 14.2x 13.4x 11.4x 9.69x 8.8x
EV / FCF 22.4x 19.3x 9.83x 10.7x 23.6x 9.03x 9.72x 8.85x
FCF Yield 4.46% 5.18% 10.2% 9.34% 4.24% 11.1% 10.3% 11.3%
Dividend per Share 2 5.5 6.25 7 7 7.5 8.383 9.94 10.64
Rate of return 3.35% 5.48% 5.42% 4.95% 4.75% 5.09% 6.04% 6.46%
EPS 2 6.7 7.57 7.14 6.87 7.73 10.9 11.63 12.71
Distribution rate 82.1% 82.6% 98% 102% 97% 76.9% 85.5% 83.7%
Net sales 1 41,316 32,397 34,704 34,583 37,376 41,710 43,372 46,100
EBITDA 1 1,660 1,811 1,932 1,908 2,156 2,368 2,648 2,834
EBIT 1 1,046 1,196 1,244 1,211 1,385 1,589 1,834 1,980
Net income 1 763 851 800 775 878 1,270 1,300 1,418
Net Debt 1 169 1,081 961 1,382 975 -207 -566.5 -913.5
Reference price 2 164.00 114.00 129.20 141.40 157.80 164.60 164.60 164.60
Nbr of stocks (in thousands) 111,522 110,598 111,076 111,833 111,430 111,440 - -
Announcement Date 08/02/22 09/02/23 08/02/24 06/02/25 10/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
23.06x3.76x13.13x2.88% 219B
-131.77x18.43x100.28x-.--% 118B
13.87x1.53x8.03x3.46% 110B
14.69x2.68x10.13x5.59% 86.08B
20.14x5.29x13x2.83% 60.36B
14.25x2.07x8.77x5.47% 46.22B
21.57x1.76x10.97x1.36% 42.47B
20.29x1.53x9.83x0.93% 39.39B
17.71x2.26x10.61x4.93% 36.45B
Average 1.53x 4.37x 20.53x 3.05% 84.16B
Weighted average by Cap. -4.65x 5.32x 24.97x 2.89%

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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