Company Valuation: Nel ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025 2026 2027
Capitalization 1 40,758 22,213 21,654 11,513 4,518 3,989 3,989 -
Change - -45.5% -2.51% -46.83% -60.75% -11.72% 0% -
Enterprise Value (EV) 1 38,456 19,513 21,654 8,172 2,903 2,473 2,778 3,040
Change - -49.26% 10.97% -62.26% -64.48% -14.79% 12.31% 9.43%
P/E ratio 31.8x -13.2x -18.2x -13.3x -18x -7.07x -8.33x -10.4x
PBR 7.46x 4.38x - 1.84x 0.91x 0.83x 0.89x 0.96x
PEG - 0x 0.5x 0.4x 0.3x -0x 0.6x 0.5x
Capitalization / Revenue 62.5x 27.8x 21.8x 6.49x 3.02x 4.04x 4.07x 2.71x
EV / Revenue 59x 24.5x 21.8x 4.61x 1.94x 2.5x 2.83x 2.07x
EV / EBITDA -153x -41.1x -27.8x -17.2x -16.8x -6.82x -10.6x -19.9x
EV / EBIT -92.8x -33.5x -16.9x -11.7x -7.45x -3.97x -5.25x -7.22x
EV / FCF -85.8x -23.6x - -5.8x -3.52x -5.44x -4.76x -4.32x
FCF Yield -1.17% -4.24% - -17.2% -28.4% -18.4% -21% -23.2%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 0.91 -1.15 -0.76 -0.52 -0.15 -0.307 -0.2606 -0.2094
Distribution rate - - - - - - - -
Net sales 1 651.9 798 993.6 1,773 1,495 987.9 981.1 1,470
EBITDA 1 -251.5 -475.2 -779.9 -473.7 -172.9 -362.5 -261.1 -152.8
EBIT 1 -414.5 -582.9 -1,279 -699.5 -389.4 -623.7 -529.3 -420.9
Net income 1 1,262 -1,667 -1,171 -855.2 -244.3 -546.1 -491.1 -386.7
Net Debt 1 -2,303 -2,700 - -3,341 -1,616 -1,515 -1,211 -948.9
Reference price 2 28.960 15.210 13.855 6.890 2.704 2.170 2.170 2.170
Nbr of stocks (in thousands) 1,407,401 1,460,396 1,562,907 1,670,907 1,670,907 1,838,040 1,838,040 -
Announcement Date 18/02/21 16/02/22 28/02/23 28/02/24 26/02/25 - - -
1NOK in Million2NOK
Estimates

P/E ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-7.07x2.5x-6.82x-.--% 421M
44.21x3.04x21.08x1.02% 166B
20.5x3.11x15.28x0.96% 45.2B
44.17x1.4x17.87x1.19% 7.45B
-8x1.05x44.08x-.--% 6.8B
90.91x - - 0.23% 2.75B
22.35x - - 0.91% 1.96B
57.92x1.66x11.1x-.--% 1.7B
Average 33.12x 2.13x 17.10x 0.54% 28.99B
Weighted average by Cap. 38.43x 2.93x 20.38x 0.96%

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