Company Valuation: Norcod

Data adjusted to current consolidation scope
Fiscal Period: December 2020 2021 2022 2023 2024 2025
Market Cap 1 2,197 1,856 1,153 440.8 590.8 977.6
Change - -15.5% -37.88% -61.77% 34.02% 65.46%
Enterprise Value (EV) 1 2,048 1,975 1,385 727.5 936.4 1,262
Change - -3.53% -29.87% -47.47% 28.71% 34.76%
P/E - - -3.87x -1.42x -2.31x -3.59x
PBR - - 6.51x 1.96x 3.79x 4.2x
PEG - - - 0x 0.1x 0.1x
Capitalization / Revenue 304x 25.6x 6.76x 1.64x 1.49x 2.2x
EV / Revenue 283x 27.2x 8.12x 2.7x 2.36x 2.84x
EV / EBITDA 180x -32x -5.06x -3.59x -5.91x -11.5x
EV / EBIT 197x -30.2x -4.93x -3.37x -5.32x -9.43x
EV / FCF - - - - - -
FCF Yield - - - - - -
Dividend per Share 2 - - - - - -
Rate of return - - - - - -
EPS 2 - - -15.5 -10.54 -5.852 -3.87
Distribution rate - - - - - -
Net sales 1 7.225 72.63 170.5 269.4 397.2 444.4
EBITDA 1 11.38 -61.66 -273.9 -202.7 -158.4 -109.7
EBIT 1 10.4 -65.39 -280.9 -215.9 -176.1 -133.8
Net income 1 5.671 -75.16 -297.2 -246.2 -235 -235.3
Net Debt 1 -149.5 118.7 232 286.7 345.6 284.3
Reference price 2 129.00 109.00 60.00 15.00 13.50 13.90
Nbr of stocks (in thousands) 17,031 17,031 19,219 29,389 43,764 70,328
Announcement Date 10/05/22 10/05/22 25/05/23 30/05/24 28/05/25 28/05/26
1NOK in Million2NOK
Estimates


P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
- - - - 111M
-33.01x1.21x43.25x-.--% 15.22B
9.71x1.12x9.36x4.36% 5.81B
28.97x1.82x13.91x1.36% 3.41B
13.4x1.48x7.01x1.85% 2.96B
14.45x0.84x8.95x - 1.98B
36.52x0.83x7.72x0.41% 1.71B
Average 11.67x 1.22x 15.03x 1.6% 4.46B
Weighted average by Cap. -6.96x 1.24x 26.11x 1.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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