Company Valuation: Nel ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 22,213 21,654 11,513 4,518 4,103 3,796 - -
Change - -2.51% -46.83% -60.75% -9.2% -7.48% - -
Enterprise Value (EV) 1 19,513 21,654 8,172 2,903 2,718 2,916 3,100 3,280
Change - 10.97% -62.26% -64.48% -6.35% 7.28% 6.31% 5.81%
P/E -13.2x -18.2x -13.3x -18x -3.19x -6.25x -9.42x -13.4x
PBR 4.38x - 1.84x 0.91x 1.02x 1.08x 1.16x 1.38x
PEG - 0.5x 0.4x 0.3x -0x 0.1x 0.3x 0.5x
Capitalization / Revenue 27.8x 21.8x 6.49x 3.02x 3.73x 4.62x 2.79x 2.25x
EV / Revenue 24.5x 21.8x 4.61x 1.94x 2.47x 3.55x 2.28x 1.94x
EV / EBITDA -41.1x -27.8x -17.2x -16.8x -9.89x -6.75x -14.3x -20.2x
EV / EBIT -33.5x -16.9x -11.7x -7.45x -1.99x -4.71x -7.21x -10.9x
EV / FCF -23.6x - -5.8x -3.52x -5x -5.64x -8.39x -13.9x
FCF Yield -4.24% - -17.2% -28.4% -20% -17.7% -11.9% -7.18%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -0.76 -0.52 -0.15 -0.7 -0.3302 -0.2192 -0.1544
Distribution rate - - - - - - - -
Net sales 1 798 993.6 1,773 1,495 1,100 821.5 1,359 1,690
EBITDA 1 -475.2 -779.9 -473.7 -172.9 -274.8 -432.1 -216.4 -162.6
EBIT 1 -582.9 -1,279 -699.5 -389.4 -1,365 -619.3 -430.1 -300.4
Net income 1 -1,667 -1,171 -855.2 -244.3 -1,265 -588.7 -380.8 -255.4
Net Debt 1 -2,700 - -3,341 -1,616 -1,384 -879.5 -695.5 -515.3
Reference price 2 15.210 13.855 6.890 2.704 2.232 2.065 2.065 2.065
Nbr of stocks (in thousands) 1,460,396 1,562,907 1,670,907 1,670,907 1,838,040 1,838,040 - -
Announcement Date 2/16/22 2/28/23 2/28/24 2/26/25 2/26/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
-6.25x3.55x-6.75x-.--% 402M
30.58x2.41x15.66x1.48% 130B
19.97x1.1x8.12x0.9% 27.96B
11.67x1.47x7.91x2.02% 23.67B
9.88x3.24x6.23x-.--% 18.55B
15.84x3.68x12.79x4.16% 13.61B
21.07x2.51x11.86x-.--% 12.14B
-13.63x0.95x23.59x-.--% 12.3B
10.1x0.71x8.71x4.87% 10.92B
15.96x1.02x8.87x1.67% 8.5B
Average 11.52x 2.07x 9.70x 1.51% 25.79B
Weighted average by Cap. 21.46x 2.13x 12.95x 1.51%

Y-o-Y evolution of P/E

Valuation ratios - P/E - Nel ASA

Historical PBR trend

Valuation ratios - PBR - Nel ASA

Evolution Enterprise Value / Sales

Valuation ratios - VE_REV - Nel ASA

Change in Enterprise Value/EBITDA

Valuation ratios - VE_EBITDA - Nel ASA


Year-on-year evolution of the Yield

Valuation ratios - Yield - Nel ASA