Company Valuation: Circio Holding ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 837.6 416.2 206.6 51.58 49.81 167.2
Change - -50.31% -50.37% -75.03% -3.44% 235.66%
Enterprise Value (EV) 1 779 293.1 202.8 140 48.83 169.4
Change - -62.37% -30.83% -30.96% -65.11% 246.93%
P/E -6.9x -2.01x -0.48x -0.44x 0.25x -2.65x
PBR 2.25x 1x 80.5x -0.56x -3.98x -13.4x
PEG - 0.1x -0x 0x -0x 0x
Capitalization / Revenue 1,342x - 20.7x 419x - -
EV / Revenue 1,248x - 20.3x 1,138x - -
EV / EBITDA -7.54x -3.07x -1.98x -1.4x -1.2x -4.13x
EV / EBIT -7.49x -3.07x -0.41x -1.39x -1.15x -4.13x
EV / FCF -10.2x -5.87x 3.01x -2.27x -2.07x -6.11x
FCF Yield -9.81% -17% 33.2% -44% -48.3% -16.4%
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 -42.07 -33 -68.92 -16.33 2.787 -0.4394
Distribution rate - - - - - -
Net sales 1 0.624 - 10 0.123 - -
EBITDA 1 -103.4 -95.54 -102.2 -100 -40.72 -41.03
EBIT 1 -104 -95.6 -493.6 -100.5 -42.49 -41.05
Net income 1 -108.1 -97.97 -432.9 -110.7 57.52 -45.91
Net Debt 1 -58.64 -123.1 -3.811 88.4 -0.972 2.245
Reference price 2 290.400 66.300 32.880 7.200 0.710 1.164
Nbr of stocks (in thousands) 2,884 6,278 6,282 7,164 70,151 143,626
Announcement Date 2/18/21 3/9/22 4/13/23 4/25/24 4/10/25 4/15/26
1NOK in Million2NOK
Estimates

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 206M
21.25x6.51x14.24x1.5% 56.54B
31.6x7.8x24.02x0.05% 53.6B
-17.91x4.18x-7.32x-.--% 22.91B
-38.06x12.21x-36.05x-.--% 21.37B
25.45x4.98x13.18x-.--% 20.27B
24.28x4.73x15.36x-.--% 17.56B
-737.38x35.03x-3943.97x-.--% 14.75B
40.7x16.37x42.16x0.09% 13.53B
16.73x4.82x11.24x-.--% 13.33B
Average -70.37x 10.74x -429.68x 0.18% 23.41B
Weighted average by Cap. -32.01x 9.11x -238.39x 0.38%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Circio Holding ASA