Stock OKEA OKEA ASA
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Financials OKEA ASA

Equities

OKEA

NO0010816895

Oil & Gas Exploration and Production

Market Closed - Oslo Bors
Other stock markets
 10:45:00 2024-05-16 am EDT 		5-day change 1st Jan Change
25.1 NOK +2.45% Intraday chart for OKEA ASA +0.72% -5.64%
May. 08 Norway oil workers agree to wage deal, averting strike RE
May. 07 SLB: EPCI contract for Bestla project in the North Sea CF

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,786 1,056 2,628 3,554 2,764 2,608 - -
Enterprise Value (EV) 1 2,679 2,585 3,377 4,136 2,186 1,722 1,691 2,313
P/E ratio -22.7 x -1.75 x 4.32 x 5.31 x -2.96 x 4.17 x 3.23 x 4.86 x
Yield - - - 11.4% 15% - 16% 13.9%
Capitalization / Revenue 0.61 x 0.61 x 0.68 x 0.53 x 0.31 x 0.24 x 0.3 x 0.37 x
EV / Revenue 0.91 x 1.49 x 0.87 x 0.62 x 0.25 x 0.16 x 0.2 x 0.32 x
EV / EBITDA 1.64 x 2.98 x 1.3 x 0.87 x 0.38 x 0.24 x 0.3 x 0.55 x
EV / FCF 2.15 x -7.11 x - 4.55 x 1.1 x -6.26 x 4.94 x 109 x
FCF Yield 46.5% -14.1% - 22% 90.7% -16% 20.2% 0.92%
Price to Book 1.06 x 0.98 x 1.54 x 1.71 x 3.81 x 1.86 x 1.1 x 1.24 x
Nbr of stocks (in thousands) 102,064 102,503 103,870 103,910 103,910 103,910 - -
Reference price 2 17.50 10.30 25.30 34.20 26.60 25.10 25.10 25.10
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,936 1,730 3,882 6,653 8,885 11,005 8,623 7,121
EBITDA 1 1,636 867 2,607 4,758 5,756 7,065 5,629 4,170
EBIT 1 827.2 -1,219 2,298 3,526 1,316 4,319 3,653 2,459
Operating Margin 28.18% -70.46% 59.19% 53% 14.81% 39.24% 42.36% 34.53%
Earnings before Tax (EBT) 1 419.4 -1,231 2,106 3,215 1,099 4,119 3,513 2,379
Net income 1 -71.13 -602.7 603.3 669.6 -935.4 625.6 807.5 536.8
Net margin -2.42% -34.84% 15.54% 10.07% -10.53% 5.69% 9.36% 7.54%
EPS 2 -0.7700 -5.890 5.860 6.440 -9.000 6.023 7.770 5.167
Free Cash Flow 1 1,247 -363.7 - 909.6 1,983 -275 342.3 21.28
FCF margin 42.47% -21.02% - 13.67% 22.31% -2.5% 3.97% 0.3%
FCF Conversion (EBITDA) 76.19% - - 19.12% 34.44% - 6.08% 0.51%
FCF Conversion (Net income) - - - 135.85% - - 42.4% 3.96%
Dividend per Share 2 - - - 3.900 4.000 - 4.028 3.500
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
1NOK in Million2NOK
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
Net sales 1 1,725 1,516 1,332 2,143 1,664 2,954 1,707 2,105 2,118 3,422 2,028 2,212 2,389
EBITDA 1 1,258 1,143 927.7 1,636 1,086 1,591 1,167 1,336 1,661 2,159 1,352 1,466 1,743
EBIT 1 714.8 1,348 762.6 1,460 565 1,170 505.6 435.8 -795.2 1,223 861 985 1,127
Operating Margin 41.45% 88.93% 57.25% 68.1% 33.95% 39.61% 29.62% 20.7% -37.55% 35.75% 42.46% 44.53% 47.17%
Earnings before Tax (EBT) 1 653.6 1,287 531.6 737.6 658.7 1,121 391 460.2 -872.9 1,080 789 899 1,041
Net income 1 283.2 213.3 27.78 104.5 324.1 226.1 68.87 32.39 -1,263 -49.44 182 207 239
Net margin 16.42% 14.07% 2.09% 4.87% 19.47% 7.66% 4.03% 1.54% -59.62% -1.44% 8.97% 9.36% 10%
EPS 2 2.720 2.050 0.2700 1.000 3.120 2.180 0.6600 0.3100 -12.15 -0.4800 1.770 1.760 1.890
Dividend per Share 2 - - - 1.000 1.000 1.000 - - 1.000 - - - -
Announcement Date 2/11/22 5/5/22 7/13/22 10/26/22 1/31/23 5/4/23 7/13/23 10/26/23 2/8/24 4/25/24 - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 893 1,529 750 583 - - - -
Net Cash position 1 - - - - 578 886 917 295
Leverage (Debt/EBITDA) 0.5457 x 1.764 x 0.2875 x 0.1224 x - - - -
Free Cash Flow 1 1,247 -364 - 910 1,983 -275 342 21.3
ROE (net income / shareholders' equity) -4.53% - 43.2% 35.4% -66.7% 52.8% 47.4% 27%
ROA (Net income/ Total Assets) - - - - -5.48% 3% 3.8% 2.3%
Assets 1 - - - - 17,060 20,854 21,249 23,338
Book Value Per Share 2 16.50 10.50 16.50 20.00 6.980 13.50 22.80 20.20
Cash Flow per Share 2 - - - - 49.90 39.70 30.10 21.50
Capex 1 874 1,005 673 1,089 1,957 3,905 2,696 2,218
Capex / Sales 29.79% 58.08% 17.33% 16.37% 22.02% 35.48% 31.26% 31.14%
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
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

Ratings for OKEA ASA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
25.1 NOK
Average target price
37.4 NOK
Spread / Average Target
+49.00%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Oil Exploration & Production - Offshore

1st Jan change Capi.
OKEA ASA Stock OKEA ASA
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Oil Exploration & Production - Offshore
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