Projected Income Statement: 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 6,303 4,989 4,160
Change - -45.83% 261.38% 9.28% 15.07% -46.96% -20.85% -16.62%
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 2,024 1,038 1,318
Change - 194.45% -135.2% 29.51% 12.35% 277.08% -48.74% 27.04%
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% 12.98% 18.47% 20.45%
EBIT Margin (%) 17.5% 27.05% 4.73% 3.92% 2.27% 6.45% 13.37% 15.95%
EBT Margin (%) 17.28% 26.66% 2.68% 0.14% -1.24% 4.98% 11.1% 14.05%
Net margin (%) 13.73% 20.83% 0.2% 1.48% -2.17% -1.29% 8.25% 9.48%
FCF margin (%) 5.29% 11.45% -5.2% -3.95% -3.71% 12.9% 5.89% 7.14%
FCF / Net Income (%) 38.57% 54.97% -2,569.44% -267.21% 171.11% -1,003.89% 71.41% 75.39%

Profitability

        
ROA 12.72% 20.21% 0.17% 4.22% - - - -
ROE 28.64% 39.48% 0.27% 8.69% -2.67% 3.16% 11.2% 13.62%

Financial Health

        
Leverage (Debt/EBITDA) 0.62x 0.2x 2.51x 2.49x 3.45x 3.1x 1.53x 1.1x
Debt / Free cash flow 2.7x 0.5x -5.11x -7.92x -10.4x 3.11x 4.81x 3.16x

Capital Intensity

        
CAPEX / Current Assets (%) 9.28% 8.84% 13.66% 10.1% 7.53% 6.39% 6.67% 7.45%
CAPEX / EBITDA (%) 40.15% 31.49% 128.77% 80.41% 67.41% 49.21% 36.1% 36.44%
CAPEX / FCF (%) 175.24% 77.21% -262.49% -255.67% -202.89% 49.49% 113.25% 104.32%

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 2.042
Change - 100% - - - - - 53.34%
Book Value Per Share 1 31.26 45.14 38.31 41.03 37.88 28.52 36.31 39.44
Change - 44.39% -15.13% 7.11% -7.67% -24.71% 27.29% 8.63%
EPS 1 7.44 15.04 0.11 0.77 -1.05 -0.6607 3.593 4.588
Change - 102.15% -99.27% 600% -236.36% 37.07% 643.77% 27.7%
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 -50.8x 9.34x
PBR 1.18x 0.92x
EV / Sales 1.18x 0.97x
Yield - 3.97%

EPS & Dividend

Y-o-Y evolution of P/E

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
BBB
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
7
Last Close Price
33.56NOK
Average target price
35.67NOK
Spread / Average Target
+6.28%

Quarterly revenue - Rate of surprise

  1. Stock Market
  2. Stocks
  3. ELK Stock
  4. Financials Elkem ASA