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Relative Value

The Relative Value of one NEL stock under the Base Case scenario is 3.195 NOK. Compared to the current market price of 2.865 NOK, Nel ASA is Undervalued by 10%.

Relative Value is the estimated value of a stock based on various valuation multiples like P/E and EV/EBIT ratios. It offers a quick snapshot of a stock's valuation in relation to its peers and historical norms.

NEL Relative Value
Base Case
3.195 NOK
Undervaluation 10%
Relative Value
Price
Worst Case
Base Case
Best Case

Valuation Multiples

vs History
96
vs Industry
14
Median 3Y
15.8
Median 5Y
23.7
Industry
1.7
Forward
3.1
vs History
vs Industry
Median 3Y
-18.4
Median 5Y
-20.3
Industry
22.7
Forward
-15.1
vs History
vs Industry
Median 3Y
-31.6
Median 5Y
-42.3
Industry
14.3
vs History
vs Industry
Median 3Y
-19.6
Median 5Y
-26
Industry
19.7
vs History
96
vs Industry
49
Median 3Y
3.1
Median 5Y
3.6
Industry
1.9
vs History
96
vs Industry
19
Median 3Y
13.1
Median 5Y
20.5
Industry
1.7
Forward
2
vs History
96
vs Industry
43
Median 3Y
26.5
Median 5Y
66.1
Industry
7.1
vs History
4
vs Industry
Median 3Y
-27.5
Median 5Y
-51.9
Industry
14.6
Forward
-14.8
vs History
vs Industry
Median 3Y
-20.4
Median 5Y
-31.8
Industry
17.9
Forward
-6.6
vs History
vs Industry
Median 3Y
-26.5
Median 5Y
-35.1
Industry
14
vs History
vs Industry
Median 3Y
-16.7
Median 5Y
-22.3
Industry
17.5
vs History
96
vs Industry
41
Median 3Y
4.4
Median 5Y
5.4
Industry
1.6

Multiples Across Competitors

NEL Competitors Multiples
Nel ASA Competitors

All Multiples
P/S
P/E
EV/EBITDA
EV/EBIT
All Countries
Close
Market Cap P/S P/E EV/EBITDA EV/EBIT
NO
Nel ASA
OSE:NEL
4.8B NOK 4.2 -17.4 83.5 -15.7
DE
Siemens Energy AG
XETRA:ENR
39.9B EUR 1.2 33.7 25.2 -418
JP
Mitsubishi Electric Corp
TSE:6503
5.5T JPY 1 19.5 8.5 13.3
CN
NARI Technology Co Ltd
SSE:600406
189B CNY 3.4 25.5 20.7 20.7
CN
Goldwind Science & Technology Co Ltd
XMUN:CXGH
21.5B EUR 2.9 92 83.5 83.5
IN
ABB India Ltd
NSE:ABB
1.4T INR 12.1 83.5 65.6 69.9
DK
Vestas Wind Systems A/S
CSE:VWS
97.4B DKK 0.9 -266.4 -902.7 -902.7
CN
Shanghai Electric Group Co Ltd
SSE:601727
90.9B CNY 0.8 407.8 42.6 42.6
CN
Hangzhou Steam Turbine Co Ltd
SZSE:200771
11.4B 0 0 0 0
KR
Hyundai Electric & Energy Systems Co Ltd
KRX:267260
14.4T KRW 4.4 28.2 19.3 21.1
IN
Suzlon Energy Ltd
NSE:SUZLON
803.4B INR 10.2 83.4 62.8 73.4
EV/EBIT Multiple
EBIT Growth EV/EBIT to Growth
NO
Nel ASA
OSE:NEL
Average EV/EBIT: 46.4
Negative Multiple: -15.7
N/A N/A
DE
Siemens Energy AG
XETRA:ENR
Negative Multiple: -418 N/A N/A
JP
Mitsubishi Electric Corp
TSE:6503
13.3
N/A N/A
CN
NARI Technology Co Ltd
SSE:600406
20.7
13%
1.6
CN
G
Goldwind Science & Technology Co Ltd
XMUN:CXGH
83.5
64%
1.3
IN
ABB India Ltd
NSE:ABB
69.9
29%
2.4
DK
Vestas Wind Systems A/S
CSE:VWS
Negative Multiple: -902.7
269%
N/A
CN
Shanghai Electric Group Co Ltd
SSE:601727
42.6
13%
3.3
CN
H
Hangzhou Steam Turbine Co Ltd
SZSE:200771
Not Available N/A N/A
KR
Hyundai Electric & Energy Systems Co Ltd
KRX:267260
21.1
52%
0.4
IN
Suzlon Energy Ltd
NSE:SUZLON
73.4
57%
1.3