Company Valuation: DNO ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,198 12,039 9,818 10,208 15,502 17,862 - -
Change - 18.05% -18.45% 3.97% 51.86% 15.22% - -
Enterprise Value (EV) 1 11,650 8,102 8,194 8,992 24,150 22,733 22,193 22,016
Change - -30.45% 1.13% 9.74% 168.58% -5.87% -2.37% -0.8%
P/E 5.66x 2.98x 47.4x -31.1x -32.8x 6.46x 5.47x 6.47x
PBR 1.14x 0.79x 0.75x 0.84x 1.2x 1.3x 1.15x 1.05x
PEG - 0x -0.5x 0x -0.7x -0x 0.3x -0.4x
Capitalization / Revenue 1.15x 0.85x 1.39x 1.37x 1.08x 0.69x 0.69x 0.79x
EV / Revenue 1.32x 0.57x 1.16x 1.2x 1.69x 0.88x 0.86x 0.97x
EV / EBITDA 2.18x 0.78x 2.01x 2.41x 2.95x 1.25x 1.21x 1.4x
EV / EBIT 4.13x 1.82x 3.25x 5.38x 4.85x 1.7x 1.7x 2.06x
EV / FCF 2.95x 2.13x -9.44x 13.6x -88.4x 4.79x 8.6x 12.4x
FCF Yield 33.9% 46.9% -10.6% 7.33% -1.13% 20.9% 11.6% 8.07%
Dividend per Share 2 0.2 0.75 1 - - 1.414 1.414 1.414
Rate of return 1.91% 6.35% 9.93% - - 7.72% 7.72% 7.72%
EPS 2 1.848 3.957 0.2124 -0.3363 -0.4852 2.835 3.35 2.832
Distribution rate 10.8% 19% 471% - - 49.9% 42.2% 49.9%
Net sales 1 8,836 14,214 7,088 7,476 14,305 25,915 25,843 22,706
EBITDA 1 5,340 10,344 4,075 3,736 8,187 18,183 18,327 15,741
EBIT 1 2,824 4,453 2,521 1,672 4,977 13,348 13,041 10,713
Net income 1 1,794 3,905 197.5 -303.8 -244.6 2,970 3,448 2,916
Net Debt 1 1,452 -3,937 -1,625 -1,216 8,647 4,871 4,331 4,154
Reference price 2 10.46 11.81 10.07 10.47 15.90 18.32 18.32 18.32
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 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
12.78x2.44x5.57x2.5% 163B
12.64x3.36x6.41x3.53% 105B
8.69x2.65x4.63x2.83% 76.56B
7.77x2.56x4.05x1.69% 60.59B
10.08x1.45x4.78x1.92% 60.51B
12.24x3.68x5.21x2.15% 56.83B
9.61x2.6x5.06x2.28% 56.1B
12.38x3.43x5.16x5.68% 44.08B
5.47x1.61x3.86x4.94% 35.16B
Average 10.18x 2.64x 4.97x 3.06% 73.15B
Weighted average by Cap. 10.84x 2.67x 5.19x 2.87%

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