Company Valuation: Scatec ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,255 12,478 13,055 12,643 16,877 15,673 - -
Change - -48.56% 4.62% -3.16% 33.49% -7.13% - -
Enterprise Value (EV) 1 39,204 32,056 36,339 37,282 42,540 45,439 55,545 58,034
Change - -18.23% 13.36% 2.59% 14.1% 6.82% 22.24% 4.48%
P/E 62.9x -9.36x 20.8x 9.65x 16.2x 28.3x 13.3x 9.01x
PBR 2.62x 1.51x 1.5x 1.19x 1.67x 1.51x 1.32x 1.14x
PEG - 0x -0x 0x -0.8x -0.6x 0x 0.2x
Capitalization / Revenue 6.38x 3.33x 2.77x 1.92x 3.22x 2.84x 1.97x 1.51x
EV / Revenue 10.3x 8.55x 7.7x 5.67x 8.12x 8.22x 6.96x 5.6x
EV / EBITDA 13.5x 12.5x 10.2x 6.88x 10.6x 10.9x 9.07x 7.34x
EV / EBIT 19.5x 44.3x 13.8x 9.03x 15x 17x 13.4x 10.7x
EV / FCF 3.86x -26.1x -7.32x -266x -11.9x -9.12x -4.26x -77.1x
FCF Yield 25.9% -3.84% -13.7% -0.38% -8.39% -11% -23.5% -1.3%
Dividend per Share 2 2.54 1.94 - - - 0.09 0.53 0.962
Rate of return 1.66% 2.47% - - - 0.09% 0.54% 0.98%
EPS 2 2.43 -8.4 3.95 8.24 6.54 3.46 7.348 10.88
Distribution rate 105% -23.1% - - - 2.6% 7.21% 8.84%
Net sales 1 3,803 3,751 4,721 6,574 5,238 5,527 7,976 10,366
EBITDA 1 2,903 2,555 3,567 5,421 4,013 4,169 6,121 7,909
EBIT 1 2,012 723 2,625 4,127 2,845 2,667 4,149 5,439
Net income 1 388 -1,334 628 1,309 1,045 137.3 1,342 2,116
Net Debt 1 14,949 19,578 23,284 24,639 25,663 29,766 39,872 42,361
Reference price 2 152.75 78.60 82.15 79.50 106.20 98.05 98.05 98.05
Nbr of stocks (in thousands) 158,792 158,756 158,917 159,028 158,917 159,849 - -
Announcement Date 03/02/22 03/02/23 26/01/24 31/01/25 30/01/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.8x10.48x15.11x2.17% 27.05B
73.63x18.44x21.91x-.--% 21.97B
27.22x7.73x9.87x1.39% 15.54B
12.31x5.48x8.97x3.03% 7.91B
28.13x4.91x8.48x3.26% 4.08B
Average 32.42x 9.41x 12.87x 1.97% 15.31B
Weighted average by Cap. 36.78x 11.39x 15.01x 1.54%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield