R

REC Silicon ASA
OSE:RECSI

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REC Silicon ASA
OSE:RECSI
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Price: 7.14 NOK -2.86% Market Closed
Market Cap: 3B NOK
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REC Silicon ASA?
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Intrinsic Value

The intrinsic value of one RECSI stock under the Base Case scenario is 39.45 NOK. Compared to the current market price of 7.14 NOK, REC Silicon ASA is Undervalued by 82%.

The Intrinsic Value is calculated as the average of DCF and Relative values:

RECSI Intrinsic Value
39.45 NOK
Undervaluation 82%
Intrinsic Value
Price
R
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Base Case
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REC Silicon ASA

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Backtest Conclusion
Very Attractive
Current Valuation
+45%
Avg Valuation
-12%
Worst Valuation
-49%
Best Valuation
+45%

Stock is trading at its lowest valuation over the past 5 years.

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
REC Silicon ASA

Current Assets 120.8m
Cash & Short-Term Investments 37.6m
Receivables 12.7m
Other Current Assets 70.5m
Non-Current Assets 335.3m
PP&E 334.2m
Intangibles 800k
Other Non-Current Assets 300k
Current Liabilities 102.7m
Accounts Payable 57.7m
Other Current Liabilities 45m
Non-Current Liabilities 368.3m
Long-Term Debt 312.1m
Other Non-Current Liabilities 56.2m
Efficiency

Earnings Waterfall
REC Silicon ASA

Revenue
155.1m USD
Cost of Revenue
-34.8m USD
Gross Profit
120.3m USD
Operating Expenses
-261m USD
Operating Income
-140.7m USD
Other Expenses
129.1m USD
Net Income
-11.6m USD

Free Cash Flow Analysis
REC Silicon ASA

Last Value
3-Years Average
FCF Margin
Conversion Rate
Earnings Calls

REC Silicon confronted a higher-than-expected EBITDA loss in Q2 2024, driven by increased startup costs at Moses Lake due to commissioning Silane IV. Despite the complexities, the company remains on track for a mid-September shipment and aims to have full capacity by year-end. Poly production at Butte has ceased, impacting revenue. Silane gas prices increased by 16.5%, while China's polysilicon prices fell 44%, affecting the market. Talks with multiple silicon anode producers are ongoing, targeting resolutions over the next five months.

What is Earnings Call?
Fundamental Scores

RECSI Profitability Score
Profitability Due Diligence

REC Silicon ASA's profitability score is 28/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Exceptional Revenue Growth Forecast
ROE is Increasing
Positive 3-Years Revenue Growth
28/100
Profitability
Score

REC Silicon ASA's profitability score is 28/100. The higher the profitability score, the more profitable the company is.

RECSI Solvency Score
Solvency Due Diligence

REC Silicon ASA's solvency score is 42/100. The higher the solvency score, the more solvent the company is.

Low D/E
High Altman Z-Score
Short-Term Solvency
Long-Term Solvency
42/100
Solvency
Score

REC Silicon ASA's solvency score is 42/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

RECSI Price Targets Summary
REC Silicon ASA

Wall Street analysts forecast RECSI stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for RECSI is 11.22 NOK with a low forecast of 11.11 NOK and a high forecast of 11.55 NOK.

Lowest
Price Target
11.11 NOK
56% Upside
Average
Price Target
11.22 NOK
57% Upside
Highest
Price Target
11.55 NOK
62% Upside
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Dividends

REC Silicon ASA
does not pay dividends
Shareholder Yield

Current shareholder yield for RECSI is .

Shareholder yield represents the total return a company provides to its shareholders, calculated as the sum of dividend yield, buyback yield, and debt paydown yield. What is shareholder yield?

Shareholder Yield
Dividend Yield
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Profile

REC Silicon ASA

Country

Norway

Industry

Semiconductors

Market Cap

3B NOK

Dividend Yield

0%

Description

REC Silicon ASA is a holding company, which engages in the manufacture and trade of silicon materials. The company is headquartered in Lysaker, Akershus. The company went IPO on 2006-05-09. REC Silicon ASA is engaged in production of advanced silicon materials to customers in the solar and electronics industry. The company offers three types of products: solar grade polysilicon for production of solar panels; electronic grade polysilicon for semiconductor industry and green energy technologies; and silane gases for semiconductor industry, flat panel displays and thin film technologies. The firm uses three technologies: Siemens process, based on decomposition of silane and deposition of elemental silicon; Fluidized Bed Reactor (FBR) technology, aimed at production of polysilicon at lower cost; and REC Business System (RBS) to manufacture gas and liquid silicon molecules.

Contact

AKERSHUS
Lysaker
Fornebuveien 84, PO Box 63
+4740724086.0
www.recsilicon.com

IPO

2006-05-09

Employees

280

Officers

President & CEO
Mr. William Kurtis Levens
Chief Financial Officer
Mr. Jeong Ryul Yun
Chief Strategy Officer
Mr. Dongjin Jung
General Counsel & Corp. Sec.
Mr. James Bowen
Senior Vice President of Sales
Mr. Jeff Catlin
Vice President of Human Resources
Ms. Vivianne Park
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Senior Vice President of Operational Excellence
Mr. Jackson Sim
Corporate Controller
Mr. Douglas J. Moore
Vice President of Moses Lake Operations
Mr. Jeff Johnson
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See Also

Discover More
What is the Intrinsic Value of one RECSI stock?

The intrinsic value of one RECSI stock under the Base Case scenario is 39.45 NOK.

Is RECSI stock undervalued or overvalued?

Compared to the current market price of 7.14 NOK, REC Silicon ASA is Undervalued by 82%.

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