Financials Norconsult ASA

Equities

NORCO

NO0013052209

Construction & Engineering

Market Closed - Oslo Bors Other stock markets 15:45:00 24/05/2024 BST			5-day change	1st Jan Change
30.65 ^NOK	-0.16%		+3.72%	+25.61%

05-14	Norconsult ASA Reports Earnings Results for the First Quarter Ended March 31, 2024	CI
05-11	Certain Ordinary Shares of Norconsult ASA are subject to a Lock-Up Agreement Ending on 11-MAY-2024.	CI

Valuation

Fiscal Period: December	2023	2024	2025	2026
Capitalization ¹	6,968	8,759	-	-
Enterprise Value (EV) ¹	7,601	9,286	9,017	8,332
P/E ratio	13.4 x	22.1 x	14 x	13.3 x
Yield	4.92%	4.13%	4.56%	4.77%
Capitalization / Revenue	0.73 x	0.96 x	0.87 x	0.85 x
EV / Revenue	0.79 x	1.01 x	0.9 x	0.81 x
EV / EBITDA	6.09 x	7.22 x	6.54 x	5.94 x
EV / FCF	14.2 x	10.1 x	11.2 x	9.65 x
FCF Yield	7.05%	9.91%	8.91%	10.4%
Price to Book	-	3.88 x	3.64 x	3.2 x
Nbr of stocks (in thousands)	285,568	285,769	-	-
Reference price ²	24.40	30.65	30.65	30.65
Announcement Date	20/02/24	-	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2023	2024	2025	2026
Net sales ¹	9,567	9,163	10,037	10,299
EBITDA ¹	1,248	1,285	1,379	1,403
EBIT ¹	789	820.8	912.2	930.6
Operating Margin	8.25%	8.96%	9.09%	9.04%
Earnings before Tax (EBT) ¹	674	571.6	846.4	816
Net income ¹	516	408.7	652.9	678.7
Net margin	5.39%	4.46%	6.5%	6.59%
EPS ²	1.820	1.390	2.182	2.306
Free Cash Flow ¹	536	920	803.5	863
FCF margin	5.6%	10.04%	8.01%	8.38%
FCF Conversion (EBITDA)	42.95%	71.58%	58.25%	61.5%
FCF Conversion (Net income)	103.88%	225.1%	123.07%	127.15%
Dividend per Share ²	1.200	1.267	1.397	1.463
Announcement Date	20/02/24	-	-	-

¹NOK in Million²NOK

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	2,684	2,631	2,480	1,914	2,476	2,619	2,491
EBITDA ¹	320	342	389	276	279	474	274
EBIT ¹	201	145	273	160	162	354	157
Operating Margin	7.49%	5.51%	11.01%	8.36%	6.54%	13.52%	6.3%
Earnings before Tax (EBT) ¹	105	139	182	67	184	346	146
Net income ¹	74	103	122.5	37.5	145.5	267	111
Net margin	2.76%	3.91%	4.94%	1.96%	5.88%	10.19%	4.46%
EPS ²	0.2500	0.3500	0.4200	0.1300	0.5050	0.9100	0.3800
Dividend per Share ²	-	-	-	-	1.400	-	-
Announcement Date	20/02/24	14/05/24	-	-	-	-	-

¹NOK in Million²NOK

Estimates

Balance Sheet Analysis

Fiscal Period: December	2023	2024	2025	2026
Net Debt ¹	633	527	258	-
Net Cash position ¹	-	-	-	427
Leverage (Debt/EBITDA)	0.5072 x	0.4098 x	0.1869 x	-
Free Cash Flow ¹	536	920	804	863
ROE (net income / shareholders' equity)	23.9%	18.4%	26.7%	24.8%
ROA (Net income/ Total Assets)	8.17%	6.06%	9.15%	8.98%
Assets ¹	6,313	6,745	7,132	7,560
Book Value Per Share ²	-	7.900	8.430	9.580
Cash Flow per Share	-	-	-	-
Capex ¹	82	81.2	85.4	99.6
Capex / Sales	0.86%	0.89%	0.85%	0.97%
Announcement Date	20/02/24	-	-	-

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

Ratings for Norconsult ASA

Trading Rating

Investor Rating

ESG Refinitiv

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

30.65 NOK

Average target price

33.67 NOK

Spread / Average Target

+9.84%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

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Civil Engineers & Architects