Company Valuation: Norcod

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,197 1,856 1,153 440.8 590.8 977.6
Change - -15.5% -37.88% -61.77% 34.02% 65.46%
Enterprise Value (EV) 1 2,048 1,975 1,385 727.5 936.4 1,262
Change - -3.53% -29.87% -47.47% 28.71% 34.76%
P/E - - -3.87x -1.42x -2.31x -3.59x
PBR - - 6.51x 1.96x 3.79x 4.2x
PEG - - - 0x 0.1x 0.1x
Capitalization / Revenue 304x 25.6x 6.76x 1.64x 1.49x 2.2x
EV / Revenue 283x 27.2x 8.12x 2.7x 2.36x 2.84x
EV / EBITDA 180x -32x -5.06x -3.59x -5.91x -11.5x
EV / EBIT 197x -30.2x -4.93x -3.37x -5.32x -9.43x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 - - -15.5 -10.54 -5.852 -3.87
Distribution rate - - - - - -
Net sales 1 7.225 72.63 170.5 269.4 397.2 444.4
EBITDA 1 11.38 -61.66 -273.9 -202.7 -158.4 -109.7
EBIT 1 10.4 -65.39 -280.9 -215.9 -176.1 -133.8
Net income 1 5.671 -75.16 -297.2 -246.2 -235 -235.3
Net Debt 1 -149.5 118.7 232 286.7 345.6 284.3
Reference price 2 129.00 109.00 60.00 15.00 13.50 13.90
Nbr of stocks (in thousands) 17,031 17,031 19,219 29,389 43,764 70,328
Announcement Date 5/10/22 5/10/22 5/25/23 5/30/24 5/28/25 5/28/26
1NOK in Million2NOK
Estimates


P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
- - - - 111M
-26.67x1.25x76.62x-.--% 14.13B
9.8x1.13x9.4x4.32% 5.87B
29.11x1.83x13.93x1.31% 3.46B
13.52x1.49x7.07x1.83% 2.99B
14.96x0.86x9.22x - 2.05B
32.4x0.76x7x0.46% 1.51B
Average 12.19x 1.22x 20.54x 1.58% 4.3B
Weighted average by Cap. -3.28x 1.26x 41.21x 1.29%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA