Financials Norsk Hydro ASA

Equities

NHY

NO0005052605

Aluminum

Real-time Oslo Bors 13:53:57 19/06/2024 BST 5-day change 1st Jan Change
63.98 NOK -0.19% Intraday chart for Norsk Hydro ASA -4.99% -6.46%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 66,835 81,678 142,619 149,900 137,630 128,517 - -
Enterprise Value (EV) 1 78,595 89,508 139,406 148,590 146,460 144,408 140,878 134,218
P/E ratio -37.1 x 21.8 x 11.7 x 6.22 x 38.6 x 13.9 x 8.97 x 8.49 x
Yield 3.83% 3.14% 7.77% 7.71% 3.65% 4.32% 6.56% 7.21%
Capitalization / Revenue 0.45 x 0.59 x 0.95 x 0.72 x 0.71 x 0.66 x 0.62 x 0.61 x
EV / Revenue 0.52 x 0.65 x 0.93 x 0.71 x 0.76 x 0.74 x 0.68 x 0.64 x
EV / EBITDA 6.64 x 6.25 x 4.98 x 3.75 x 6.58 x 5.73 x 4.49 x 4.04 x
EV / FCF 20.6 x 12.4 x 29.9 x 7.51 x 17.1 x 97.4 x 13.6 x 11 x
FCF Yield 4.87% 8.08% 3.34% 13.3% 5.86% 1.03% 7.33% 9.08%
Price to Book 0.84 x 1.1 x 1.7 x 1.47 x 1.38 x 1.21 x 1.11 x 1.06 x
Nbr of stocks (in thousands) 2,047,649 2,049,125 2,051,476 2,044,467 2,012,141 2,004,949 - -
Reference price 2 32.64 39.86 69.52 73.32 68.40 64.10 64.10 64.10
Announcement Date 07/02/20 12/02/21 22/02/22 14/02/23 13/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 149,766 138,118 149,654 207,929 193,619 194,885 208,626 210,847
EBITDA 1 11,832 14,316 28,010 39,664 22,258 25,210 31,354 33,184
EBIT 1 3,359 6,051 20,786 31,179 12,983 15,588 21,675 23,176
Operating Margin 2.24% 4.38% 13.89% 15% 6.71% 8% 10.39% 10.99%
Earnings before Tax (EBT) 1 -1,556 4,509 18,397 32,365 6,546 12,902 20,455 21,841
Net income 1 -1,811 3,745 13,930 24,154 3,583 9,226 14,221 15,051
Net margin -1.21% 2.71% 9.31% 11.62% 1.85% 4.73% 6.82% 7.14%
EPS 2 -0.8800 1.830 5.930 11.78 1.770 4.619 7.146 7.548
Free Cash Flow 1 3,824 7,228 4,660 19,789 8,582 1,483 10,327 12,182
FCF margin 2.55% 5.23% 3.11% 9.52% 4.43% 0.76% 4.95% 5.78%
FCF Conversion (EBITDA) 32.32% 50.49% 16.64% 49.89% 38.56% 5.88% 32.94% 36.71%
FCF Conversion (Net income) - 193% 33.45% 81.93% 239.52% 16.07% 72.61% 80.94%
Dividend per Share 2 1.250 1.250 5.400 5.650 2.500 2.769 4.204 4.621
Announcement Date 07/02/20 12/02/21 22/02/22 14/02/23 13/02/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2020 S1 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 2025 Q1 2025 Q2
Net sales 1 - 46,433 46,616 64,793 52,445 44,075 48,534 53,630 44,702 46,754 47,545 50,055 49,626 49,324 58,099 59,074
EBITDA 1 7,453 9,011 11,165 11,594 9,721 7,184 7,525 7,098 3,899 3,736 5,411 6,060 7,118 7,130 7,552 7,581
EBIT 1 - 7,026 9,170 9,452 7,611 4,946 5,364 4,788 1,600 1,231 2,966 3,630 4,441 4,578 5,620 5,154
Operating Margin - 15.13% 19.67% 14.59% 14.51% 11.22% 11.05% 8.93% 3.58% 2.63% 6.24% 7.25% 8.95% 9.28% 9.67% 8.72%
Earnings before Tax (EBT) 1 - 10,730 8,416 14,108 8,166 1,676 2,021 6,986 55 -2,516 1,148 3,517 4,475 3,922 5,111 5,050
Net income 1 - 8,525 6,411 11,136 6,676 287 1,265 5,056 -625 -2,536 428 2,414 3,109 3,095 3,556 3,554
Net margin - 18.36% 13.75% 17.19% 12.73% 0.65% 2.61% 9.43% -1.4% -5.42% 0.9% 4.82% 6.26% 6.27% 6.12% 6.02%
EPS 2 - 3.470 2.800 5.490 3.340 0.1500 0.6200 2.560 -0.1800 -1.240 0.4700 1.206 1.555 1.549 1.785 1.785
Dividend per Share 2 - 5.400 - - - 5.650 - - - 2.500 - - - 2.661 - -
Announcement Date 22/07/20 22/02/22 03/05/22 21/07/22 24/10/22 14/02/23 28/04/23 20/07/23 23/10/23 13/02/24 24/04/24 - - - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 11,760 7,830 - - 8,830 15,891 12,360 5,700
Net Cash position 1 - - 3,213 1,310 - - - -
Leverage (Debt/EBITDA) 0.9939 x 0.5469 x - - 0.3967 x 0.6303 x 0.3942 x 0.1718 x
Free Cash Flow 1 3,824 7,228 4,660 19,789 8,582 1,483 10,327 12,182
ROE (net income / shareholders' equity) 1.29% 3.33% 17.5% 25.9% 3.53% 9.12% 12.2% 12.4%
ROA (Net income/ Total Assets) -1.1% 1.56% 8.2% 12.9% 1.77% 4.71% 6.15% 6.33%
Assets 1 164,666 239,757 169,973 186,565 202,544 195,877 231,247 237,905
Book Value Per Share 2 39.00 36.20 41.00 50.00 49.60 53.10 57.60 60.70
Cash Flow per Share 2 6.130 6.600 5.210 14.30 11.00 8.140 11.80 12.10
Capex 1 8,726 6,287 6,020 9,604 13,638 14,275 14,976 14,377
Capex / Sales 5.83% 4.55% 4.02% 4.62% 7.04% 7.32% 7.18% 6.82%
Announcement Date 07/02/20 12/02/21 22/02/22 14/02/23 13/02/24 - - -
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

Trading Rating
Investor Rating
ESG Refinitiv
B
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
15
Last Close Price
64.1 NOK
Average target price
77.43 NOK
Spread / Average Target
+20.79%
Consensus
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