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 12,493 - -
Change - 18.59% -39.94% -17.17% 73.99% -35.37% - -
Enterprise Value (EV) 1 23,660 24,949 22,863 21,438 31,214 18,796 17,482 16,653
Change - 5.45% -8.36% -6.23% 45.6% -39.78% -6.99% -4.74%
P/E 4.01x 2.34x 192x 22.8x -29x -52.2x 9.59x 7.51x
PBR 0.95x 0.78x 0.55x 0.43x 0.8x 1.21x 0.95x 0.87x
PEG - 0x -1.9x 0x 0x 1.4x -0x 0.3x
Capitalization / Revenue 0.56x 0.49x 0.38x 0.34x 0.63x 0.8x 0.71x 0.68x
EV / Revenue 0.7x 0.54x 0.64x 0.65x 1.01x 1.2x 0.99x 0.9x
EV / EBITDA 3.04x 1.94x 6.06x 5.17x 9.07x 9.23x 5.37x 4.41x
EV / EBIT 4.01x 2.01x 13.6x 16.6x 44.7x 18.6x 7.42x 5.66x
EV / FCF 13.3x 4.75x -12.4x -16.4x -27.3x 9.29x 16.9x 12.6x
FCF Yield 7.54% 21.1% -8.09% -6.08% -3.66% 10.8% 5.93% 7.91%
Dividend per Share 2 3 6 - - - - 1.332 2.042
Rate of return 10.1% 17% - - - - 3.86% 5.93%
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 34.46 34.46 34.46
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 (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
-52.15x1.2x9.23x-.--% 1.31B
51.03x0.91x7.92x0.44% 5.37B
15.41x1.7x9.89x4.61% 3.23B
18.13x1.52x9.23x3.48% 1.44B
11.98x2.19x6.89x4.91% 558M
18.28x - - 3.25% 424M
Average 10.45x 1.50x 8.63x 2.78% 2.06B
Weighted average by Cap. 23.98x 1.29x 8.71x 2.13%

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