Company Valuation: Elkem ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,833 22,334 13,413 11,111 19,331 11,435 - -
Change - 18.59% -39.94% -17.17% 73.99% -40.85% - -
Enterprise Value (EV) 1 23,660 24,949 22,863 21,438 31,214 17,737 16,424 15,594
Change - 5.45% -8.36% -6.23% 45.6% -43.18% -7.41% -5.05%
P/E 4.01x 2.34x 192x 22.8x -29x -47.7x 8.78x 6.87x
PBR 0.95x 0.78x 0.55x 0.43x 0.8x 1.11x 0.87x 0.8x
PEG - 0x -1.9x 0x 0x 1.3x -0x 0.2x
Capitalization / Revenue 0.56x 0.49x 0.38x 0.34x 0.63x 0.73x 0.65x 0.62x
EV / Revenue 0.7x 0.54x 0.64x 0.65x 1.01x 1.13x 0.93x 0.85x
EV / EBITDA 3.04x 1.94x 6.06x 5.17x 9.07x 8.71x 5.05x 4.13x
EV / EBIT 4.01x 2.01x 13.6x 16.6x 44.7x 17.5x 6.97x 5.3x
EV / FCF 13.3x 4.75x -12.4x -16.4x -27.3x 8.76x 15.8x 11.8x
FCF Yield 7.54% 21.1% -8.09% -6.08% -3.66% 11.4% 6.32% 8.45%
Dividend per Share 2 3 6 - - - - 1.332 2.042
Rate of return 10.1% 17% - - - - 4.22% 6.47%
EPS 2 7.44 15.04 0.11 0.77 -1.05 -0.6607 3.593 4.588
Distribution rate 40.3% 39.9% - - - - 37.1% 44.5%
Net sales 1 33,717 45,898 35,545 33,004 30,806 15,688 17,615 18,449
EBITDA 1 7,791 12,887 3,771 4,146 3,440 2,036 3,254 3,773
EBIT 1 5,899 12,414 1,682 1,294 699 1,011 2,355 2,943
Net income 1 4,628 9,561 72 488 -668 -201.6 1,453 1,748
Net Debt 1 4,827 2,615 9,450 10,327 11,883 6,303 4,989 4,160
Reference price 2 29.82 35.20 21.16 17.52 30.48 31.54 31.54 31.54
Nbr of stocks (in thousands) 631,546 634,477 633,890 634,169 634,219 362,548 - -
Announcement Date 2/9/22 2/8/23 2/8/24 2/12/25 2/13/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution

P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-48.92x1.15x8.85x-.--% 1.22B
128.79x0.94x8.34x0.51% 5.04B
15.01x1.66x9.65x4.73% 3.08B
16.8x1.42x8.6x3.76% 1.3B
12.27x2.26x7.11x4.79% 567M
18.74x - - 3.17% 423M
Average 23.78x 1.49x 8.51x 2.83% 1.94B
Weighted average by Cap. 57.84x 1.28x 8.72x 2.24%

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