Projected Income Statement: Elkem ASA

Forecast Balance Sheet: Elkem ASA

Forecast Balance Sheet - Elkem ASA
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 4,827 2,615 9,450 10,327 11,883 6,413 5,398 4,413
Change - -45.83% 261.38% 9.28% 15.07% -46.03% -15.83% -18.25%
Announcement Date 2/9/22 2/8/23 2/8/24 2/12/25 2/13/26 - - -
1NOK in Million
Estimates

Cash Flow Forecast: Elkem ASA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 3,128 4,058 4,856 3,334 2,319 1,002 1,175 1,375
Change - 29.73% 19.66% -31.34% -30.44% -56.8% 17.29% 17.02%
Free Cash Flow (FCF) 1 1,785 5,256 -1,850 -1,304 -1,143 1,924 873 1,116
Change - 194.45% -135.2% 29.51% 12.35% 268.37% -54.64% 27.78%
Announcement Date 2/9/22 2/8/23 2/8/24 2/12/25 2/13/26 - - -
1NOK in Million
Estimates

Forecast Financial Ratios: Elkem ASA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 23.11% 28.08% 10.61% 12.56% 11.17% 12.5% 18.27% 19.96%
EBIT Margin (%) 17.5% 27.05% 4.73% 3.92% 2.27% 5.84% 12.69% 14.49%
EBT Margin (%) 17.28% 26.66% 2.68% 0.14% -1.24% 5% 10.38% 12.45%
Net margin (%) 13.73% 20.83% 0.2% 1.48% -2.17% -1.27% 7.89% 9.1%
FCF margin (%) 5.29% 11.45% -5.2% -3.95% -3.71% 12.41% 4.92% 5.91%
FCF / Net Income (%) 38.57% 54.97% -2,569.44% -267.21% 171.11% -976.9% 62.41% 64.91%

Profitability

        
ROA 12.72% 20.21% 0.17% 4.22% - - - -
ROE 28.64% 39.48% 0.27% 8.69% -2.67% 2.7% 10.19% 13.6%

Financial Health

        
Leverage (Debt/EBITDA) 0.62x 0.2x 2.51x 2.49x 3.45x 3.31x 1.67x 1.17x
Debt / Free cash flow 2.7x 0.5x -5.11x -7.92x -10.4x 3.33x 6.18x 3.96x

Capital Intensity

        
CAPEX / Current Assets (%) 9.28% 8.84% 13.66% 10.1% 7.53% 6.46% 6.63% 7.28%
CAPEX / EBITDA (%) 40.15% 31.49% 128.77% 80.41% 67.41% 51.67% 36.26% 36.47%
CAPEX / FCF (%) 175.24% 77.21% -262.49% -255.67% -202.89% 52.05% 134.59% 123.26%

Items per share

        
Cash flow per share 1 - - - - 1.852 4.2 5.5 8
Change - - - - - 126.79% 30.95% 45.45%
Dividend per Share 1 3 6 - - - - 1.332 2.023
Change - 100% - - - - - 51.8%
Book Value Per Share 1 31.26 45.14 38.31 41.03 37.88 28.49 36.3 39.4
Change - 44.39% -15.13% 7.11% -7.67% -24.79% 27.39% 8.56%
EPS 1 7.44 15.04 0.11 0.77 -1.05 -0.6733 3.589 4.626
Change - 102.15% -99.27% 600% -236.36% 35.87% 633.07% 28.89%
Nbr of stocks (in thousands) 631,546 634,477 633,890 634,169 634,219 362,548 362,548 362,548
Announcement Date 2/9/22 2/8/23 2/8/24 2/12/25 2/13/26 - - -
1NOK
Estimates
2026 *2027 *
P/E -48x 9x
PBR 1.13x 0.89x
EV / Sales 1.17x 0.97x
Yield - 4.12%

EPS & Dividend

EPS & Dividend - Elkem ASA


Y-o-Y evolution of P/E

Valuation ratios - P/E - Elkem ASA
 

Year-on-year evolution of the Yield

Valuation ratios - Yield - Elkem ASA
Trader
Investor
Global
Quality
ESG MSCI
BBB
MarketScreener Ratings - Elkem ASA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
32.32NOK
Average target price
37.50NOK
Spread / Average Target
+16.03%

Quarterly revenue - Rate of surprise

Rate of surprise - Net sales - Quarterly - Elkem ASA
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