Company Valuation: Photocure ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,769 2,895 1,827 1,681 1,900 1,514 - -
Change - 4.55% -36.89% -8.01% 13.04% -20.31% - -
Enterprise Value (EV) 1 2,483 2,639 1,567 1,387 1,661 1,311 1,293 1,260
Change - 6.28% -40.61% -11.53% 19.77% -21.05% -1.42% -2.55%
P/E -89.3x -40.2x 6,740x -344x -1,190x 16.8x 35.3x 36x
PBR - - - - - 5.29x 4.69x 4.5x
PEG - -0x -67x 0x 17.9x -0x -0.7x -17.43x
Capitalization / Revenue 7.68x 7.73x 4.09x 3.42x 3.57x 2.29x 2.28x 2.12x
EV / Revenue 6.89x 7.05x 3.51x 2.82x 3.12x 1.99x 1.94x 1.76x
EV / EBITDA 136x -107x 28.2x 28.2x 57.8x 7.67x 13.3x 11.5x
EV / EBIT -426x -53.9x 56.4x 68x -2,229x 8.14x 16.1x 13.5x
EV / FCF 113x -469x 35.4x 18.4x 95x 13x 19.9x 34x
FCF Yield 0.89% -0.21% 2.82% 5.43% 1.05% 7.66% 5.03% 2.94%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -2.66 0.01 -0.18 -0.06 3.393 1.613 1.58
Distribution rate - - - - - - - -
Net sales 1 360.5 374.5 446.2 491.7 532.6 659.7 664.7 713.7
EBITDA 1 18.3 -24.63 55.49 49.19 28.73 171 97.33 109.3
EBIT 1 -5.826 -49 27.81 20.4 -0.745 161 80.33 93
Net income 1 -30.9 -71.86 0.267 -4.81 -1.519 91.33 43.33 54.33
Net Debt 1 -285.4 -255.6 -259.5 -293.9 -238.9 -202.7 -221.3 -254.3
Reference price 2 102.70 106.80 67.40 62.00 71.40 56.90 56.90 56.90
Nbr of stocks (in thousands) 26,960 27,106 27,106 27,106 26,607 26,607 - -
Announcement Date 2/23/22 2/23/23 2/21/24 2/19/25 2/18/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
35.93x12.68x26.75x0.57% 1,067B
28.24x6.45x17.87x2.04% 635B
32.64x7.65x15.73x2.65% 458B
19.22x4.69x11.59x2.82% 347B
21.56x5.71x14.24x2.81% 295B
21.1x4.45x12.31x1.98% 262B
14.14x5.26x10.84x3.54% 216B
24.66x6.48x11.43x2.68% 203B
-46.58x5.59x30.88x2.55% 161B
Average 16.77x 6.55x 16.85x 2.4% 404.83B
Weighted average by Cap. 24.80x 7.95x 18.71x 1.96%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA