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 18,499 - -
Change - -31.06% 13.82% 10.19% 11.2% 5.21% - -
Enterprise Value (EV) 1 18,459 13,689 15,312 17,195 18,559 18,292 17,933 17,586
Change - -25.84% 11.86% 12.3% 7.93% -1.44% -1.97% -1.94%
P/E 24.5x 15.1x 18.1x 20.6x 20.4x 15.2x 14.3x 13.1x
PBR 5.18x 3.38x 3.46x 3.59x 3.94x 4.37x 4.02x 3.77x
PEG - 1.2x -3.19x -5.45x 1.6x 0.4x 2.13x 1.41x
Capitalization / Revenue 0.44x 0.39x 0.41x 0.46x 0.47x 0.44x 0.43x 0.4x
EV / Revenue 0.45x 0.42x 0.44x 0.5x 0.5x 0.44x 0.41x 0.38x
EV / EBITDA 11.1x 7.56x 7.93x 9.01x 8.61x 7.72x 6.77x 6.21x
EV / EBIT 17.6x 11.4x 12.3x 14.2x 13.4x 11.5x 9.78x 8.88x
EV / FCF 22.4x 19.3x 9.83x 10.7x 23.6x 9.11x 9.8x 8.93x
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% 5.05% 5.99% 6.41%
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 41,710 43,372 46,100
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 1,589 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 2 164.00 114.00 129.20 141.40 157.80 166.00 166.00 166.00
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.($)
15.07x0.43x7.64x5.11% 1.97B
22.98x3.75x13.09x2.89% 220B
-129.28x18.03x99.95x-.--% 116B
13.22x1.46x7.65x3.63% 109B
14.27x2.6x9.82x5.76% 83.41B
19.47x5.16x12.68x2.92% 58.93B
13.59x1.96x8.32x5.74% 43.9B
21.33x1.74x10.84x1.37% 42.66B
20.19x1.52x9.78x0.94% 39.5B
16.66x2.09x9.91x5.24% 34.16B
Average 2.75x 3.87x 18.97x 3.36% 75.01B
Weighted average by Cap. -4.37x 5.19x 24.62x 2.96%

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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