Company Valuation: DNO ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 1,158 1,222 968.2 897.6 1,545 1,936 - -
Change - 5.56% -20.76% -7.3% 72.09% 25.31% - -
Enterprise Value (EV) 1 1,323 834 815.2 789.1 2,431 2,298 2,159 2,165
Change - -36.94% -2.25% -3.21% 208.02% -5.46% -6.04% 0.25%
P/E 5.65x 3.07x 49.7x -30.7x -31.7x 6.17x 4.42x 5.41x
PBR 1.14x 0.86x 0.79x 0.83x 1.16x 1.3x 1.09x 0.98x
PEG - 0x -0.5x 0x -0.5x -0x 0.1x -0.3x
Capitalization / Revenue 1.15x 0.89x 1.45x 1.35x 1.05x 0.67x 0.68x 0.8x
EV / Revenue 1.32x 0.61x 1.22x 1.18x 1.65x 0.79x 0.76x 0.9x
EV / EBITDA 2.18x 0.82x 2.12x 2.37x 2.88x 1.11x 1.08x 1.32x
EV / EBIT 4.12x 1.93x 3.43x 5.29x 4.74x 1.49x 1.51x 1.96x
EV / FCF 2.95x 2.23x -9.98x 13.4x -86.2x 3.13x 7.69x 13x
FCF Yield 33.9% 44.9% -10% 7.45% -1.16% 31.9% 13% 7.67%
Dividend per Share 2 0.0228 0.0696 0.0948 - - 0.155 0.155 0.155
Rate of return 1.92% 5.8% 9.54% - - 7.85% 7.85% 7.85%
EPS 2 0.21 0.39 0.02 -0.03 -0.05 0.3199 0.4467 0.3649
Distribution rate 10.8% 17.8% 474% - - 48.5% 34.7% 42.5%
Net sales 1 1,004 1,377 667.5 666.8 1,474 2,891 2,839 2,409
EBITDA 1 606.9 1,020 383.8 333.2 843.6 2,065 2,001 1,645
EBIT 1 320.9 431.4 237.4 149.1 512.8 1,545 1,429 1,102
Net income 1 203.9 384.9 18.6 -27.1 -25.2 326.2 448.6 369
Net Debt 1 165 -388 -153 -108.5 885.9 362.3 223.5 229
Reference price 2 1.187 1.199 0.993 0.921 1.584 1.974 1.974 1.974
Nbr of stocks (in thousands) 975,433 1,019,377 975,000 975,000 975,000 975,000 - -
Announcement Date 2/10/22 2/9/23 2/8/24 2/6/25 2/5/26 - - -
1USD in Million2USD
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.09x2.33x5.17x2.67% 152B
12.27x3.25x6.32x3.6% 99.93B
8.23x2.48x4.31x2.92% 74.16B
18.11x4.06x10.83x5.42% 68.92B
9.97x1.48x4.84x1.88% 59.83B
7.2x2.45x3.86x1.77% 58.06B
9.02x2.43x4.89x2.33% 54.79B
10.99x3.31x4.72x2.36% 51.72B
11.78x3.18x4.81x6.38% 41.28B
Average 11.07x 2.78x 5.53x 3.26% 73.44B
Weighted average by Cap. 11.33x 2.74x 5.61x 3.15%

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