Company Valuation: Photocure ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,769 2,895 1,827 1,681 1,900 1,319 - -
Change - 4.55% -36.89% -8.01% 13.04% -30.57% - -
Enterprise Value (EV) 1 2,483 2,639 1,567 1,387 1,661 1,150 1,162 1,159
Change - 6.28% -40.61% -11.53% 19.77% -30.76% 1.04% -0.23%
P/E -89.3x -40.2x 6,740x -344x -1,190x 17.3x 62.8x 42.2x
PBR - - - - - 3.66x 3.36x 3.16x
PEG - -0x -67x 0x 17.9x -0x -0.9x 0.9x
Capitalization / Revenue 7.68x 7.73x 4.09x 3.42x 3.57x 2x 1.98x 1.83x
EV / Revenue 6.89x 7.05x 3.51x 2.82x 3.12x 1.75x 1.74x 1.61x
EV / EBITDA 136x -107x 28.2x 28.2x 57.8x 7.54x 12.2x 13.4x
EV / EBIT -426x -53.9x 56.4x 68x -2,229x 10.4x 27.4x 21.2x
EV / FCF 113x -469x 35.4x 18.4x 95x 17.4x 103x 47.6x
FCF Yield 0.89% -0.21% 2.82% 5.43% 1.05% 5.74% 0.98% 2.1%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -2.66 0.01 -0.18 -0.06 2.83 0.78 1.16
Distribution rate - - - - - - - -
Net sales 1 360.5 374.5 446.2 491.7 532.6 658.3 666.3 720.3
EBITDA 1 18.3 -24.63 55.49 49.19 28.73 152.5 95 86.5
EBIT 1 -5.826 -49 27.81 20.4 -0.745 110.3 42.33 54.67
Net income 1 -30.9 -71.86 0.267 -4.81 -1.519 76.33 21 31.67
Net Debt 1 -285.4 -255.6 -259.5 -293.9 -238.9 -169 -157 -159.7
Reference price 2 102.70 106.80 67.40 62.00 71.40 49.00 49.00 49.00
Nbr of stocks (in thousands) 26,960 27,106 27,106 27,106 26,607 26,917 - -
Announcement Date 23/02/22 23/02/23 21/02/24 19/02/25 18/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
33.65x12.19x24.78x0.59% 1,055B
30.17x6.71x18.78x1.98% 654B
33.43x7.82x16.17x2.59% 467B
19.59x4.78x11.84x2.78% 348B
20.4x5.31x13.17x3.01% 275B
21.19x4.39x12.5x2.01% 258B
26.19x6.82x12.15x2.43% 224B
-45.65x6.64x25.94x2.18% 187B
11.33x4.13x8.58x4.44% 171B
Average 16.70x 6.53x 15.99x 2.45% 404.26B
Weighted average by Cap. 24.18x 7.87x 18.13x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA