Company Valuation: Atea ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,290 12,608 14,351 15,813 17,584 18,477 - -
Change - -31.06% 13.82% 10.19% 11.2% 5.08% - -
Enterprise Value (EV) 1 18,459 13,689 15,312 17,195 18,559 18,270 17,910 17,563
Change - -25.84% 11.86% 12.3% 7.93% -1.56% -1.97% -1.94%
P/E 24.5x 15.1x 18.1x 20.6x 20.4x 15.2x 14.3x 13x
PBR 5.18x 3.38x 3.46x 3.59x 3.94x 4.36x 4.02x 3.76x
PEG - 1.2x -3.19x -5.45x 1.6x 0.4x 2.13x 1.4x
Capitalization / Revenue 0.44x 0.39x 0.41x 0.46x 0.47x 0.45x 0.43x 0.41x
EV / Revenue 0.45x 0.42x 0.44x 0.5x 0.5x 0.44x 0.42x 0.39x
EV / EBITDA 11.1x 7.56x 7.93x 9.01x 8.61x 7.72x 6.76x 6.2x
EV / EBIT 17.6x 11.4x 12.3x 14.2x 13.4x 11.5x 9.77x 8.87x
EV / FCF 22.4x 19.3x 9.83x 10.7x 23.6x 9.1x 9.79x 8.92x
FCF Yield 4.46% 5.18% 10.2% 9.34% 4.24% 11% 10.2% 11.2%
Dividend per Share 2 5.5 6.25 7 7 7.5 8.383 9.94 10.64
Rate of return 3.35% 5.48% 5.42% 4.95% 4.75% 5.06% 6% 6.42%
EPS 2 6.7 7.57 7.14 6.87 7.73 10.9 11.63 12.71
Distribution rate 82.1% 82.6% 98% 102% 97% 76.9% 85.5% 83.7%
Net sales 1 41,316 32,397 34,704 34,583 37,376 41,270 42,711 45,210
EBITDA 1 1,660 1,811 1,932 1,908 2,156 2,368 2,648 2,834
EBIT 1 1,046 1,196 1,244 1,211 1,385 1,585 1,834 1,980
Net income 1 763 851 800 775 878 1,270 1,300 1,418
Net Debt 1 169 1,081 961 1,382 975 -207 -566.5 -913.5
Reference price 2 164.00 114.00 129.20 141.40 157.80 165.80 165.80 165.80
Nbr of stocks (in thousands) 111,522 110,598 111,076 111,833 111,430 111,440 - -
Announcement Date 2/8/22 2/9/23 2/8/24 2/6/25 2/10/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
15.22x0.44x7.72x5.06% 1.92B
22.16x3.64x12.7x3% 213B
22.65x4.76x11.69x0.73% 195B
-605.52x43.07x176.95x-.--% 125B
-134.54x18.71x103.57x-.--% 121B
15.77x1.72x9.01x3.04% 127B
13.44x2.44x9.19x6.11% 77.98B
19.32x5.16x12.67x2.9% 57.69B
-17.32x7.37x12.54x-.--% 48.85B
22.4x1.85x11.73x1.39% 44.08B
Average -62.64x 8.92x 36.78x 2.22% 100.99B
Weighted average by Cap. -77.68x 10.38x 42.88x 1.86%

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