Nel ASA is a Norway-based hydrogen company that delivers solutions to produce, store and distribute hydrogen from renewable energy. The Company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. The Company's business activities are divided into two operation segments: Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment is a manufacturer of hydrogen fueling stations for Fuel Cell Electric Vehicles. Nelâ€™s H2Station manufacturing plant is located in Herning, Denmark. The Nel Hydrogen Electrolyser segment is a global supplier of hydrogen production equipment based on both alkaline and proton exchange membrane (PEM) water electrolysis technology. Nel Hydrogen Electrolyser has production facilities in Heroya, Norway, and in Wallingford, USA.

Employees

354

Sector

Renewable Energy Equipment & Services

Calendar

04-22 - Earnings release - Q1 2026

More about the company

Quotes

Date	Price	Change	Volume
11/03/26	2.106 kr	-0.66%	2,003,385
10/03/26	2.120 kr	+4.64%	2,927,790
09/03/26	2.026 kr	-4.88%	2,860,491
06/03/26	2.130 kr	-0.93%	3,823,402
05/03/26	2.150 kr	+4.67%	10,154,780

Real-time Oslo Bors

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Income Statement and Estimates

More financial data

Analysis / Opinion

Nel: Still short on orders despite positive Alkaline EBITDA in Q3

October 29, 2025 at 03:05 pm

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Analysts' Consensus

Sell

Buy

Mean consensus

UNDERPERFORM

Number of Analysts

Last Close Price

2.106NOK

Average target price

2.191NOK

Spread / Average Target

+4.03%

Consensus

EPS Estimates

Revisions to estimates

Quarterly revenue - Rate of surprise

Company calendar

Market Closed - Oslo Bors Other stock markets 15:45:00 11/03/2026 GMT			5-day change	1st Jan Change
2.106 ^NOK	-0.66%		+6.26%	-5.65%

02-26	Nel ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2025	CI
02-26	Nel ASA, Q4 2025 Earnings Call, Feb 26, 2026

Capitalization	3.87B 401M 347M 313M 299M 541M 36.95B 562M 3.7B 1.47B 17.7B 1.5B 1.47B 63.69B	P/E ratio 2026 *	-8.14x	P/E ratio 2027 *	-10.4x
Enterprise value	2.93B 304M 263M 237M 227M 410M 27.99B 426M 2.8B 1.12B 13.41B 1.14B 1.12B 48.24B	EV / Sales 2026 *	3.36x	EV / Sales 2027 *	2.15x
Free-Float	98.68%	Yield 2026 *	-	Yield 2027 *	-

02-26	Nel ASA Reports Earnings Results for the Fourth Quarter and Full Year Ended December 31, 2025	CI
02-26	Nel ASA, Q4 2025 Earnings Call, Feb 26, 2026
02-26	Nel Sees Revenue Decline, Weighed Down by Major Write-Downs in Fourth Quarter	FW
02-10	Europe risks losing nascent green hydrogen industry to China, executives warn	RE
12-12	Nel Greenlights 1 GW Alkaline Production Plan in Norway	MT
12-12	Nel to industrialize next generation pressurized alkaline platform	RE
12-12	Nel ASA Begins Construction on Up to 1 GW of Production Capacity in the Heroya Facility, Norway	CI
12-05	State Energy Ministers Push for Rapid Hydrogen Expansion	DP
11-10	Nel ASA Enters into an Agreement with GreenH to Be the Technology Provider for the Enova-Supported Projects in Kristiansund and Slagentangen	CI
11-10	Nel to deliver electrolyser equipment to Kristiansund and Slagentangen	RE
11-06	Nel Secures Order Worth Over $50 Million - Shares Surge	FW
11-06	Nel Books $50 Million Order for Proton Exchange Membrane Equipment	MT
11-05	Nel ASA receives PEM purchase order from the HyFuel and Kaupanes hydrogen projects	RE

30/10/25	Kepler Cheuvreux Raises Price Target for Nel to NOK 1.90 (1.70), Reiterates Reduce	FW
29/10/25	Nel: Still short on orders despite positive Alkaline EBITDA in Q3
30/09/25	NEL ASA : Jefferies reiterates its Neutral rating	ZD
17/07/25	Kepler Cheuvreux Raises Target Price for Nel to NOK 1.70 (1.60), Reiterates Reduce	FW
16/07/25	Nel: Order scarcity continues as revenue runway shortens further

Nel ASA Share Price

Equities

NEL

NO0010081235

Renewable Energy Equipment & Services

Valuation: Nel ASA

Chart: Nel ASA

Latest news: Nel ASA

Last Transcript: Nel ASA

Analysts' recommendations: Nel ASA

Press Releases: Nel ASA

News in other languages: Nel ASA

Quotes and Performance

Course Extremes

Managers and Directors: Nel ASA

ETFs: Nel ASA

Other Renewable Energy Equipment & Services

Financials

Company Profile

Quotes

Income Statement and Estimates

Analysis / Opinion

Analysts' Consensus

Quarterly revenue - Rate of surprise

02-27	Nel : Remuneration report (Nel RemunerationReport 2025)	PU
02-26	Nel : Annual report (Annual Report 2025)	PU
02-26	Nel ASA: Fourth quarter 2025 financial results	AQ
02-26	Nel ASA: Annual Report 2025	AQ
02-19	Nel ASA: Invitation to Q4 2025 results presentation	AQ

01-20	Elektrolyseur-Bau zur Wasserstoffproduktion kommt nur schleppend voran
12-05	Länderenergieminister pochen auf raschen Wasserstoffausbau
31/10/25	Borsa: tre titoli europei che gli analisti detestano
30/10/25	Beurs: drie Europese aandelen die analisten verafschuwen
30/10/25	Bolsa: Tres acciones europeas despreciadas por los analistas

1 day	-0.66%
1 week	+6.26%
Current month	+3.24%
1 month	-4.01%
3 months	-7.63%
6 months	-6.48%
Current year	-5.65%

1 week	2.02	2.2
1 month	1.92	2.2
Current year	1.92	2.36
1 year	1.92	3.61
3 years	1.92	15.3
5 years	1.92	27.13
10 years	1.67	35.15

Manager	Title	Age	Since
Håkon Rypern Volldal CEO	Chief Executive Officer	50	30/06/2022
Kjell Christians Bjørnsen DFI	Director of Finance/CFO	50	29/02/2020
Wilhelm Kvalheim Flinder IRC	Investor Relations Contact	-	28/02/2022

Director	Title	Age	Since
Beatriz Malo de Molina BRD	Director/Board Member	54	14/05/2017
Hanne Blume BRD	Director/Board Member	58	30/04/2019
Anna Charlotta Falvin BRD	Director/Board Member	60	12/05/2020

Add to a list 0 selected To use this feature you must be a member Log in Sign up	Change	5d. change	1-year change	3-years change	Capi.($)
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Average	+2.24%	+11.50%	+62.46%	+49.99%	22.5B
Weighted average by Cap.	+0.70%	+4.95%	+180.20%	+494.27%

	2026 *	2027 *
Net sales	871M 90.32M 78.12M 70.37M 67.39M 122M 8.32B 126M 832M 332M 3.99B 339M 332M 14.34B	1.47B 152M 132M 119M 114M 205M 14.02B 213M 1.4B 559M 6.72B 571M 559M 24.17B
Net income	-486M -50.41M -43.61M -39.28M -37.61M -68M -4.64B -70.59M -464M -185M -2.22B -189M -185M -8B	-388M -40.25M -34.82M -31.36M -30.03M -54.29M -3.71B -56.36M -371M -148M -1.78B -151M -148M -6.39B
Net Debt	-939M -97.32M -84.18M -75.83M -72.61M -131M -8.96B -136M -896M -357M -4.29B -365M -357M -15.45B	-719M -74.55M -64.49M -58.09M -55.63M -101M -6.87B -104M -687M -274M -3.29B -279M -274M -11.84B