Company Valuation: Orkla ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 88,000 70,737 78,651 98,263 111,353 87,085 - -
Change - -19.62% 11.19% 24.94% 13.32% -21.79% - -
Enterprise Value (EV) 1 101,207 88,337 98,434 115,156 126,051 104,707 104,128 103,362
Change - -12.72% 11.43% 16.99% 9.46% -16.93% -0.55% -0.74%
P/E 18.3x 14.1x 15.1x 16.2x 9.8x 13.8x 13.2x 12.3x
PBR 2.29x 1.7x 1.74x 2.04x 2.3x 1.96x 1.88x 1.76x
PEG - 3.09x 4.48x 1x 0.1x -0.3x 2.81x 1.81x
Capitalization / Revenue 1.74x 1.21x 1.16x 1.39x 1.56x 1.23x 1.2x 1.16x
EV / Revenue 2.01x 1.51x 1.45x 1.63x 1.76x 1.48x 1.43x 1.37x
EV / EBITDA 12.3x 9.14x 10.3x 10.7x 12.8x 10.5x 9.99x 9.5x
EV / EBIT 17.7x 12.8x 15.8x 15.7x 17.8x 14.3x 13.4x 12.6x
EV / FCF 27x 36x 22.7x 15x 18.5x 16x 16.6x 14.2x
FCF Yield 3.7% 2.78% 4.4% 6.66% 5.42% 6.27% 6.02% 7.03%
Dividend per Share 2 3 3 3 4 6 4.987 4.643 5.054
Rate of return 3.4% 4.23% 3.81% 4.07% 5.33% 5.51% 5.13% 5.58%
EPS 2 4.82 5.04 5.21 6.06 11.48 6.568 6.877 7.344
Distribution rate 62.2% 59.5% 57.6% 66% 52.3% 75.9% 67.5% 68.8%
Net sales 1 50,441 58,391 67,797 70,656 71,547 70,623 72,707 75,325
EBITDA 1 8,232 9,668 9,578 10,744 9,818 10,003 10,427 10,875
EBIT 1 5,730 6,897 6,234 7,351 7,086 7,345 7,770 8,191
Net income 1 4,808 5,019 5,196 6,057 11,473 6,377 6,553 6,948
Net Debt 1 13,207 17,600 19,783 16,893 14,698 17,622 17,044 16,277
Reference price 2 88.36 70.94 78.84 98.35 112.50 90.55 90.55 90.55
Nbr of stocks (in thousands) 995,929 997,144 997,605 999,118 989,802 961,731 - -
Announcement Date 10/02/22 14/02/23 08/02/24 13/02/25 12/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.79x1.48x10.47x5.51% 9.24B
15.7x1.07x7.01x4.53% 3.79B
17.02x1.2x9.54x5.4% 1.53B
7.94x1.09x6.75x7.19% 1.49B
13.33x - - - 1.25B
9.24x0.47x4.85x2.7% 806M
Average 12.84x 1.06x 7.72x 5.07% 3.02B
Weighted average by Cap. 13.75x 1.28x 9.01x 5.29%

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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