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 1,546 - -
Change - 4.55% -36.89% -8.01% 13.04% -18.63% - -
Enterprise Value (EV) 1 2,483 2,639 1,567 1,387 1,661 1,304 1,283 1,248
Change - 6.28% -40.61% -11.53% 19.77% -21.49% -1.59% -2.78%
P/E -89.3x -40.2x 6,740x -344x -1,190x 16.9x 34.4x 34.9x
PBR - - - - - 5.4x 4.79x 4.6x
PEG - -0x -67x 0x 17.9x -0x -0.7x -29.43x
Capitalization / Revenue 7.68x 7.73x 4.09x 3.42x 3.57x 2.35x 2.33x 2.17x
EV / Revenue 6.89x 7.05x 3.51x 2.82x 3.12x 1.98x 1.94x 1.75x
EV / EBITDA 136x -107x 28.2x 28.2x 57.8x 10.4x 13x 11.3x
EV / EBIT -426x -53.9x 56.4x 68x -2,229x 12x 15.8x 13.2x
EV / FCF 113x -469x 35.4x 18.4x 95x 12.8x 36.7x 32x
FCF Yield 0.89% -0.21% 2.82% 5.43% 1.05% 7.78% 2.73% 3.13%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -2.66 0.01 -0.18 -0.06 3.437 1.687 1.667
Distribution rate - - - - - - - -
Net sales 1 360.5 374.5 446.2 491.7 532.6 658 663 712
EBITDA 1 18.3 -24.63 55.49 49.19 28.73 125.3 98.33 110.7
EBIT 1 -5.826 -49 27.81 20.4 -0.745 108.3 81.33 94.33
Net income 1 -30.9 -71.86 0.267 -4.81 -1.519 92.33 45 56.33
Net Debt 1 -285.4 -255.6 -259.5 -293.9 -238.9 -242 -262.7 -298.3
Reference price 2 102.70 106.80 67.40 62.00 71.40 58.10 58.10 58.10
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 (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
17.26x2.03x10.66x - 159M
35.06x12.74x25.95x0.57% 1,070B
27.14x6.24x16.98x2.1% 611B
31.04x7.44x15.22x2.75% 445B
17.73x4.41x10.84x3.01% 329B
23.3x4.89x13.84x1.78% 290B
21.86x5.61x13.55x2.82% 287B
13.89x5.16x10.6x3.6% 213B
23.6x6.28x11.05x2.79% 195B
-45.11x5.46x30.35x2.57% 157B
Average 16.58x 6.03x 15.90x 2.44% 359.64B
Weighted average by Cap. 24.26x 7.90x 18.23x 1.99%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

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  3. PHO Stock
  4. Valuation Photocure ASA