NORSK HYDRO ASA |
Market Closed -
Other stock markets
|
5-day change | 1st Jan Change | ||
| 68.9 NOK | -1.46% |
|
-1.12% | +0.73% |
| Apr. 26 | The BHP-Anglo takeover saga takes an interesting turn |  |
| Apr. 25 | BHP is pursuing a slice and dice strategy for Anglo American | |
Valuation
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Capitalization 1 | 66,835 | 81,678 | 142,619 | 149,900 | 137,630 | 138,141 | - | - |
| Enterprise Value (EV) 1 | 78,595 | 89,508 | 139,406 | 148,590 | 146,460 | 155,069 | 150,443 | 142,978 |
| P/E ratio | -37.1 x | 21.8 x | 11.7 x | 6.22 x | 38.6 x | 15 x | 9.67 x | 8.96 x |
| Yield | 3.83% | 3.14% | 7.77% | 7.71% | 3.65% | 4.04% | 6.08% | 6.87% |
| Capitalization / Revenue | 0.45 x | 0.59 x | 0.95 x | 0.72 x | 0.71 x | 0.71 x | 0.67 x | 0.67 x |
| EV / Revenue | 0.52 x | 0.65 x | 0.93 x | 0.71 x | 0.76 x | 0.8 x | 0.73 x | 0.69 x |
| EV / EBITDA | 6.64 x | 6.25 x | 4.98 x | 3.75 x | 6.58 x | 6.23 x | 4.83 x | 4.35 x |
| EV / FCF | 20.6 x | 12.4 x | 29.9 x | 7.51 x | 17.1 x | 133 x | 14.2 x | 12 x |
| FCF Yield | 4.87% | 8.08% | 3.34% | 13.3% | 5.86% | 0.75% | 7.02% | 8.33% |
| Price to Book | 0.84 x | 1.1 x | 1.7 x | 1.47 x | 1.38 x | 1.31 x | 1.21 x | 1.15 x |
| Nbr of stocks (in thousands) | 2,047,649 | 2,049,125 | 2,051,476 | 2,044,467 | 2,012,141 | 2,004,949 | - | - |
| Reference price 2 | 32.64 | 39.86 | 69.52 | 73.32 | 68.40 | 68.90 | 68.90 | 68.90 |
| Announcement Date | 2/7/20 | 2/12/21 | 2/22/22 | 2/14/23 | 2/13/24 | - | - | - |
1NOK in Million2NOK
Estimates
Income Statement Evolution (Annual data)
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 149,766 | 138,118 | 149,654 | 207,929 | 193,619 | 193,686 | 206,818 | 205,917 |
| EBITDA 1 | 11,832 | 14,316 | 28,010 | 39,664 | 22,258 | 24,910 | 31,175 | 32,854 |
| EBIT 1 | 3,359 | 6,051 | 20,786 | 31,179 | 12,983 | 15,213 | 21,386 | 22,512 |
| Operating Margin | 2.24% | 4.38% | 13.89% | 15% | 6.71% | 7.85% | 10.34% | 10.93% |
| Earnings before Tax (EBT) 1 | -1,556 | 4,509 | 18,397 | 32,365 | 6,546 | 12,293 | 20,788 | 22,601 |
| Net income 1 | -1,811 | 3,745 | 13,930 | 24,154 | 3,583 | 8,838 | 14,277 | 15,493 |
| Net margin | -1.21% | 2.71% | 9.31% | 11.62% | 1.85% | 4.56% | 6.9% | 7.52% |
| EPS 2 | -0.8800 | 1.830 | 5.930 | 11.78 | 1.770 | 4.592 | 7.127 | 7.688 |
| Free Cash Flow 1 | 3,824 | 7,228 | 4,660 | 19,789 | 8,582 | 1,170 | 10,568 | 11,906 |
| FCF margin | 2.55% | 5.23% | 3.11% | 9.52% | 4.43% | 0.6% | 5.11% | 5.78% |
| FCF Conversion (EBITDA) | 32.32% | 50.49% | 16.64% | 49.89% | 38.56% | 4.7% | 33.9% | 36.24% |
| FCF Conversion (Net income) | - | 193% | 33.45% | 81.93% | 239.52% | 13.24% | 74.02% | 76.85% |
| Dividend per Share 2 | 1.250 | 1.250 | 5.400 | 5.650 | 2.500 | 2.783 | 4.187 | 4.731 |
| Announcement Date | 2/7/20 | 2/12/21 | 2/22/22 | 2/14/23 | 2/13/24 | - | - | - |
1NOK in Million2NOK
Estimates
Income Statement Evolution (Quarterly data)
| Fiscal Period: December | 2020 S1 | 2021 Q3 | 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 |
|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Net sales 1 | - | 36,710 | 46,433 | 46,616 | 64,793 | 52,445 | 44,075 | 48,534 | 53,630 | 44,702 | 46,754 | 47,545 | 49,272 | 48,744 | 48,430 | 56,999 |
| EBITDA 1 | 7,453 | 7,219 | 9,011 | 11,165 | 11,594 | 9,721 | 7,184 | 7,525 | 7,098 | 3,899 | 3,736 | 5,411 | 6,083 | 6,478 | 6,954 | 7,567 |
| EBIT 1 | - | 5,309 | 7,026 | 9,170 | 9,452 | 7,611 | 4,946 | 5,364 | 4,788 | 1,600 | 1,231 | 2,966 | 3,713 | 4,110 | 4,433 | 5,169 |
| Operating Margin | - | 14.46% | 15.13% | 19.67% | 14.59% | 14.51% | 11.22% | 11.05% | 8.93% | 3.58% | 2.63% | 6.24% | 7.54% | 8.43% | 9.15% | 9.07% |
| Earnings before Tax (EBT) 1 | - | 1,620 | 10,730 | 8,416 | 14,108 | 8,166 | 1,676 | 2,021 | 6,986 | 55 | -2,516 | 1,148 | 3,636 | 3,939 | 3,936 | 5,119 |
| Net income 1 | - | 1,127 | 8,525 | 6,411 | 11,136 | 6,676 | 287 | 1,265 | 5,056 | -625 | -2,536 | 428 | 2,372 | 2,718 | 3,083 | 3,563 |
| Net margin | - | 3.07% | 18.36% | 13.75% | 17.19% | 12.73% | 0.65% | 2.61% | 9.43% | -1.4% | -5.42% | 0.9% | 4.81% | 5.58% | 6.37% | 6.25% |
| EPS 2 | - | 0.5000 | 3.470 | 2.800 | 5.490 | 3.340 | 0.1500 | 0.6200 | 2.560 | -0.1800 | -1.240 | 0.4700 | 1.215 | 1.378 | 1.500 | 1.789 |
| Dividend per Share 2 | - | - | 5.400 | - | - | - | 5.650 | - | - | - | 2.500 | - | - | - | 2.661 | - |
| Announcement Date | 7/22/20 | 10/26/21 | 2/22/22 | 5/3/22 | 7/21/22 | 10/24/22 | 2/14/23 | 4/28/23 | 7/20/23 | 10/23/23 | 2/13/24 | 4/24/24 | - | - | - | - |
1NOK in Million2NOK
Estimates
Balance Sheet Analysis
| Fiscal Period: December | 2019 | 2020 | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 11,760 | 7,830 | - | - | 8,830 | 16,928 | 12,303 | 4,837 |
| Net Cash position 1 | - | - | 3,213 | 1,310 | - | - | - | - |
| Leverage (Debt/EBITDA) | 0.9939 x | 0.5469 x | - | - | 0.3967 x | 0.6796 x | 0.3946 x | 0.1472 x |
| Free Cash Flow 1 | 3,824 | 7,228 | 4,660 | 19,789 | 8,582 | 1,170 | 10,568 | 11,906 |
| ROE (net income / shareholders' equity) | 1.29% | 3.33% | 17.5% | 25.9% | 3.53% | 9.13% | 12.4% | 12.7% |
| ROA (Net income/ Total Assets) | -1.1% | 1.56% | 8.2% | 12.9% | 1.77% | 4.2% | 5.99% | 5.85% |
| Assets 1 | 164,666 | 239,757 | 169,973 | 186,565 | 202,544 | 210,601 | 238,369 | 264,723 |
| Book Value Per Share 2 | 39.00 | 36.20 | 41.00 | 50.00 | 49.60 | 52.70 | 57.00 | 59.90 |
| Cash Flow per Share 2 | 6.130 | 6.600 | 5.210 | 14.30 | 11.00 | 7.970 | 10.90 | - |
| Capex 1 | 8,726 | 6,287 | 6,020 | 9,604 | 13,638 | 14,111 | 14,985 | 14,376 |
| Capex / Sales | 5.83% | 4.55% | 4.02% | 4.62% | 7.04% | 7.29% | 7.25% | 6.98% |
| Announcement Date | 2/7/20 | 2/12/21 | 2/22/22 | 2/14/23 | 2/13/24 | - | - | - |
1NOK in Million2NOK
Estimates
EPS & Dividend
Year-on-year evolution of the PER
Year-on-year evolution of the Yield
Change in Enterprise Value/EBITDA
Trading Rating
Investor Rating
ESG Refinitiv
B
Sell
Buy
Mean consensus
OUTPERFORM
Number of Analysts
14
Last Close Price
68.9
NOK
Average target price
76.08
NOK
Spread / Average Target
+10.42%
EPS Revisions
| 1st Jan change | Capi. | |
|---|---|---|
| +0.73% | 12.48B | |
| +4.72% | 17.14B | |
| +29.23% | 6.75B | |
| +47.65% | 6.53B | |
| +0.74% | 6.31B | |
| -.--% | 5.94B | |
| +40.39% | 4.08B | |
| +12.86% | 3.56B | |
| +70.17% | 3.06B | |
| -1.10% | 2.89B |
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