OX2 AB (publ)
STO:OX2

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OX2 AB (publ)
STO:OX2
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Price: 59.55 SEK 0.08% Market Closed
Market Cap: 16.2B SEK
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Intrinsic Value

The intrinsic value of one OX2 stock under the Base Case scenario is 155.25 SEK. Compared to the current market price of 59.55 SEK, OX2 AB (publ) is Undervalued by 62%.

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

OX2 Intrinsic Value
155.25 SEK
Undervaluation 62%
Intrinsic Value
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OX2 AB (publ)

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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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Fundamental Analysis

Economic Moat
OX2 AB (publ)

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Financials
Annual
Quarterly
TTM
Annual
Quarterly
TTM

Balance Sheet Decomposition
OX2 AB (publ)

Current Assets 7.3B
Cash & Short-Term Investments 3.2B
Receivables 577m
Other Current Assets 3.6B
Non-Current Assets 310m
Long-Term Investments 117m
PP&E 47m
Intangibles 146m
Current Liabilities 3.1B
Accounts Payable 125m
Accrued Liabilities 1.8B
Other Current Liabilities 1.2B
Non-Current Liabilities 100m
Long-Term Debt 20m
Other Non-Current Liabilities 80m
Efficiency

Earnings Waterfall
OX2 AB (publ)

Revenue
7.3B SEK
Cost of Revenue
-5.7B SEK
Gross Profit
1.6B SEK
Operating Expenses
-1.1B SEK
Operating Income
543m SEK
Other Expenses
-70m SEK
Net Income
473m SEK

Free Cash Flow Analysis
OX2 AB (publ)

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

During the second quarter of 2024, OX2 experienced stable progress in both construction and asset management. Key developments included a successful sale of a 42.5 MWh battery storage project and substantial progress on the 100 MW Rutki solar project. Operating margins fell to 5.5% with a return on capital employed at 9%, both below targets due to lower first-half sales. However, with over 2 GW of projects ready for sale, OX2 anticipates a stronger second half. The outlook remains positive with expected handovers in Italy and Poland, aiming for improved profitability and expanded asset management.

What is Earnings Call?
Fundamental Scores

OX2 Profitability Score
Profitability Due Diligence

OX2 AB (publ)'s profitability score is 60/100. The higher the profitability score, the more profitable the company is.

Exceptional 3-Year Average ROIC
Positive 3-Year Average ROE
Exceptional Revenue Growth Forecast
Positive Free Cash Flow
60/100
Profitability
Score

OX2 AB (publ)'s profitability score is 60/100. The higher the profitability score, the more profitable the company is.

OX2 Solvency Score
Solvency Due Diligence

OX2 AB (publ)'s solvency score is 80/100. The higher the solvency score, the more solvent the company is.

High Altman Z-Score
Negative Net Debt
Low D/E
Long-Term Solvency
80/100
Solvency
Score

OX2 AB (publ)'s solvency score is 80/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

OX2 Price Targets Summary
OX2 AB (publ)

Wall Street analysts forecast OX2 stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for OX2 is 72.93 SEK with a low forecast of 60.6 SEK and a high forecast of 87.15 SEK.

Lowest
Price Target
60.6 SEK
2% Upside
Average
Price Target
72.93 SEK
22% Upside
Highest
Price Target
87.15 SEK
46% Upside
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Dividends

OX2 AB (publ)
does not pay dividends
Shareholder Yield

Current shareholder yield for OX2 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?

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Ownership

OX2 Insider Trading
Buy and sell transactions by insiders

Cumulative Transactions Amount
Period Sold Bought Net
3 Months
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12 Months
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Profile

OX2 AB (publ) Logo
OX2 AB (publ)

Country

Sweden

Industry

Construction

Market Cap

16.2B SEK

Dividend Yield

0%

Description

OX2 AB engages in the development and sale of wind and solar farms. The company is headquartered in Stockholm, Stockholm. The company went IPO on 2021-06-23. The firm develops, builds and manages renewable power generation and sells wind and solar farms using a dedicated, profitable business model that is divided into three phases: Expand, Develop and Deliver. The Expand phase is focused on extending company's business areas into new locations. Develop phase is related to acquiring wind or solar power project. OX2’s delivered product is commissioned wind or solar farms. The firm also offer services for the long-term management, operation and optimisation of farms. OX2 has operations in Sweden, Finland, Poland, France, Lithuania, Norway, Spain, Italy and Romania. The Group has only one operating segment.

Contact

STOCKHOLM
Stockholm
Lilla Nygatan 1, Box 2299
+46855931000
www.ox2.com

IPO

2021-06-23

Employees

352

Officers

Chief Executive Officer
Mr. Paul Stormoen
Chief Financial Officer
Mr. Johan Rydmark
Chief Sustainability & Communications Officer
Ms. Katarina Grönwall
Chief People Officer
Mr. Mikael Landberg
Head of Transactions
Mr. Christoffer Brandorf
Chief Commercial Officer
Mr. Peter Tornberg
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Chief Strategy Officer
Mr. Mehmet Energin
Head of Offshore Wind - Sweden
Ms. Emelie Zakrisson
Head of Sustainability
Ms. Rebecca Karlsson
Head of Power-to-X
Mr. Morten Langsholdt
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See Also

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What is the Intrinsic Value of one OX2 stock?

The intrinsic value of one OX2 stock under the Base Case scenario is 155.25 SEK.

Is OX2 stock undervalued or overvalued?

Compared to the current market price of 59.55 SEK, OX2 AB (publ) is Undervalued by 62%.

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