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 1,527 - -
Change - 4.55% -36.89% -8.01% 13.04% -19.61% - -
Enterprise Value (EV) 1 2,483 2,639 1,567 1,387 1,661 1,204 1,162 1,115
Change - 6.28% -40.61% -11.53% 19.77% -27.49% -3.49% -4.04%
P/E Ratio -89.3x -40.2x 6,740x -344x -1,190x 18.8x 30x 30.9x
PBR - - - - - 2.67x 2.36x 2.27x
PEG - -0x -67x 0x 17.9x -0x -0.8x -9.86x
Capitalization / Revenue 7.68x 7.73x 4.09x 3.42x 3.57x 2.41x 2.26x 2.14x
EV / Revenue 6.89x 7.05x 3.51x 2.82x 3.12x 1.9x 1.72x 1.56x
EV / EBITDA 136x -107x 28.2x 28.2x 57.8x 12.7x 11x 10.9x
EV / EBIT -426x -53.9x 56.4x 68x -2,229x 14.4x 12.2x 12.1x
EV / FCF 113x -469x 35.4x 18.4x 95x 11.9x 33.2x 28.6x
FCF Yield 0.89% -0.21% 2.82% 5.43% 1.05% 8.43% 3.01% 3.5%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -2.66 0.01 -0.18 -0.06 3.05 1.915 1.855
Distribution rate - - - - - - - -
Net sales 1 360.5 374.5 446.2 491.7 532.6 634.5 675.5 714
EBITDA 1 18.3 -24.63 55.49 49.19 28.73 94.5 105.5 102
EBIT 1 -5.826 -49 27.81 20.4 -0.745 83.5 95 92
Net income 1 -30.9 -71.86 0.267 -4.81 -1.519 81.5 51 49.5
Net Debt 1 -285.4 -255.6 -259.5 -293.9 -238.9 -323 -365 -412
Reference price 2 102.70 106.80 67.40 62.00 71.40 57.40 57.40 57.40
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 Ratio, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.82x1.9x12.74x - 161M
33.25x12.09x24.89x0.6% 1,013B
25.49x5.87x15.97x2.24% 574B
27.54x6.71x13.71x3.05% 397B
17.38x4.29x10.55x3.1% 324B
22.74x4.73x13.45x1.85% 280B
20.72x5.35x13x3.04% 273B
21.96x5.91x10.33x2.99% 182B
12.52x4.69x9.6x4.01% 194B
-43.47x5.27x29.72x2.67% 151B
Average 15.69x 5.68x 15.40x 2.62% 338.88B
Weighted average by Cap. 22.66x 7.45x 17.35x 2.12%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  4. Valuation Photocure ASA
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