Financials New Fortress Energy Inc.

Equities

NFE

US6443931000

Natural Gas Utilities

Real-time Estimate Cboe BZX Other stock markets 10:30:27 2024-05-13 am EDT			5-day change	1st Jan Change
26.9 ^USD	-0.13%		+2.22%	-29.10%

May. 09	Stifel Cuts Price Target on New Fortress Energy to $43 From $45, Maintains Buy Rating	MT
May. 09	Deutsche Bank Adjusts New Fortress Energy Price Target to $33 From $35, Maintains Hold Rating	MT

Valuation

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	358.7	9,358	4,994	8,856	7,736	5,522	-	-
Enterprise Value (EV) ¹	919.7	9,983	8,593	12,722	14,384	12,562	13,075	13,014
P/E ratio	-9.67 x	-31.3 x	51.4 x	45.6 x	14.2 x	13 x	12 x	7.1 x
Yield	-	0.37%	1.66%	0.94%	9.01%	1.52%	1.47%	1.45%
Capitalization / Revenue	1.9 x	20.7 x	3.78 x	3.74 x	3.21 x	2.03 x	1.51 x	1.17 x
EV / Revenue	4.86 x	22.1 x	6.5 x	5.37 x	5.96 x	4.63 x	3.58 x	2.76 x
EV / EBITDA	-6.92 x	1,013 x	20.5 x	11.9 x	11.2 x	9.44 x	7.69 x	6.62 x
EV / FCF	-1.5 x	-35.3 x	-14.7 x	-15.5 x	-6.52 x	9.77 x	32.3 x	11.3 x
FCF Yield	-66.5%	-2.83%	-6.8%	-6.44%	-15.3%	10.2%	3.1%	8.84%
Price to Book	31 x	25.5 x	2.79 x	6.9 x	4.75 x	1.42 x	1.65 x	1.48 x
Nbr of stocks (in thousands)	22,892	174,622	206,863	208,770	205,031	205,064	-	-
Reference price ²	15.67	53.59	24.14	42.42	37.73	26.93	26.93	26.93
Announcement Date	3/4/20	3/16/21	3/1/22	2/28/23	2/29/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	189.1	451.6	1,323	2,368	2,413	2,715	3,648	4,716
EBITDA ¹	-132.8	9.859	419	1,071	1,282	1,331	1,700	1,966
EBIT ¹	-182	-31.26	283.5	737.4	913.3	1,064	1,181	1,637
Operating Margin	-96.23%	-6.92%	21.44%	31.14%	37.84%	39.18%	32.37%	34.71%
Earnings before Tax (EBT) ¹	-203.9	-259.1	90.73	533.6	654.4	623.3	885.2	1,291
Net income ¹	-33.81	-182.1	97.1	194.5	547.9	426.4	473.5	782.6
Net margin	-17.88%	-40.33%	7.34%	8.21%	22.7%	15.71%	12.98%	16.6%
EPS ²	-1.620	-1.710	0.4700	0.9300	2.650	2.073	2.245	3.795
Free Cash Flow ¹	-611.3	-282.6	-584.6	-818.9	-2,205	1,286	405	1,151
FCF margin	-323.23%	-62.56%	-44.19%	-34.58%	-91.37%	47.37%	11.1%	24.41%
FCF Conversion (EBITDA)	-	-	-	-	-	96.65%	23.83%	58.54%
FCF Conversion (Net income)	-	-	-	-	-	301.6%	85.54%	147.08%
Dividend per Share ²	-	0.2000	0.4000	0.4000	3.400	0.4080	0.3950	0.3900
Announcement Date	3/4/20	3/16/21	3/1/22	2/28/23	2/29/24	-	-	-

¹USD in Million²USD

Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December	2021 Q4	2022 Q1	2022 Q2	2022 Q3	2022 Q4	2023 Q1	2023 Q2	2023 Q3	2023 Q4	2024 Q1	2024 Q2	2024 Q3	2024 Q4	2025 Q1	2025 Q2
Net sales ¹	648.6	505.1	584.9	731.9	546.4	579.1	561.3	514.5	758.4	690.3	586	742.5	881.1	1,064	1,042
EBITDA ¹	284	257.7	283.5	290.7	239.3	439.7	246.5	208.4	387.6	340.1	273.2	359.6	395.6	427.4	447.4
EBIT ¹	221.6	168.4	186.7	186.7	250.5	267.2	191	149.6	305.5	261.6	193.4	293.7	299.4	336.9	327
Operating Margin	34.16%	33.33%	31.92%	25.51%	45.85%	46.14%	34.02%	29.08%	40.29%	37.9%	33%	39.56%	33.98%	31.67%	31.37%
Earnings before Tax (EBT) ¹	165.6	-	-	97.94	186.4	170.5	133.2	87.04	263.7	78.29	112.7	187.3	238	261.7	221
Net income ¹	150.9	238.3	-169.8	61.85	64.13	150.2	119.2	61.22	217.2	54.08	88.5	147.6	187.7	205.7	173.4
Net margin	23.26%	47.17%	-29.03%	8.45%	11.74%	25.94%	21.24%	11.9%	28.64%	7.83%	15.1%	19.87%	21.31%	19.33%	16.64%
EPS ²	0.7200	1.130	-0.8100	0.2900	0.3000	0.7100	0.5800	0.3000	1.060	0.2600	0.3585	0.8126	0.9044	0.9200	0.8050
Dividend per Share ²	0.1000	-	-	-	-	-	-	-	0.1000	-	0.1000	0.1000	0.1000	3.060	0.1000
Announcement Date	3/1/22	5/5/22	8/4/22	11/8/22	2/28/23	5/4/23	8/8/23	11/8/23	2/29/24	5/8/24	-	-	-	-	-

¹USD in Million²USD

Estimates

Balance Sheet Analysis

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	561	625	3,599	3,866	6,648	7,039	7,552	7,492
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	-4.223 x	63.42 x	8.59 x	3.609 x	5.184 x	5.291 x	4.443 x	3.81 x
Free Cash Flow ¹	-611	-283	-585	-819	-2,205	1,286	405	1,151
ROE (net income / shareholders' equity)	-19.1%	-80.6%	9%	12.6%	37.4%	18%	17.6%	29.4%
ROA (Net income/ Total Assets)	-	-	-	-	6.02%	2.02%	1.32%	2.4%
Assets ¹	-	-	-	-	9,103	21,062	35,923	32,607
Book Value Per Share ²	0.5000	2.100	8.660	6.150	7.940	19.00	16.30	18.20
Cash Flow per Share ²	-11.20	-1.180	0.4200	1.690	3.990	1.990	5.010	7.320
Capex ¹	377	157	669	1,174	3,030	1,607	988	844
Capex / Sales	199.37%	34.76%	50.6%	49.57%	125.55%	59.19%	27.07%	17.89%
Announcement Date	3/4/20	3/16/21	3/1/22	2/28/23	2/29/24	-	-	-

¹USD in Million²USD

Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Ratings for New Fortress Energy Inc.

Trading Rating

Investor Rating

ESG Refinitiv

C-

More Ratings

Analysts' Consensus

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

26.93 USD

Average target price

38.56 USD

Spread / Average Target

+43.17%

Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Natural Gas Distribution

	1st Jan change	Capi.
NEW FORTRESS ENERGY INC.	-28.62%	5.52B
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ENN ENERGY HOLDINGS LIMITED	+33.13%	11.03B
KUNLUN ENERGY COMPANY LIMITED	+16.19%	8.9B
CHINA RESOURCES GAS GROUP LIMITED	+7.23%	8.06B
ENN NATURAL GAS CO.,LTD.	+11.00%	7.96B
GRUPO ENERGÍA BOGOTÁ S.A. E.S.P.	+32.63%	5.98B
SOUTHWEST GAS HOLDINGS, INC.	+20.57%	5.47B
UGI CORPORATION	+1.26%	5.22B
BROOKFIELD INFRASTRUCTURE CORPORATION	-1.56%	4.97B

Natural Gas Distribution