Company Valuation: Atea ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 18,290 12,608 14,351 15,813 17,584 18,388 - -
Change - -31.06% 13.82% 10.19% 11.2% 4.57% - -
Enterprise Value (EV) 1 18,459 13,689 15,312 17,195 18,559 18,181 17,821 17,474
Change - -25.84% 11.86% 12.3% 7.93% -2.04% -1.98% -1.95%
P/E 24.5x 15.1x 18.1x 20.6x 20.4x 15.1x 14.2x 13x
PBR 5.18x 3.38x 3.46x 3.59x 3.94x 4.34x 4x 3.74x
PEG - 1.2x -3.19x -5.45x 1.6x 0.4x 2.12x 1.4x
Capitalization / Revenue 0.44x 0.39x 0.41x 0.46x 0.47x 0.45x 0.43x 0.41x
EV / Revenue 0.45x 0.42x 0.44x 0.5x 0.5x 0.44x 0.42x 0.39x
EV / EBITDA 11.1x 7.56x 7.93x 9.01x 8.61x 7.68x 6.73x 6.17x
EV / EBIT 17.6x 11.4x 12.3x 14.2x 13.4x 11.5x 9.72x 8.83x
EV / FCF 22.4x 19.3x 9.83x 10.7x 23.6x 9.05x 9.74x 8.87x
FCF Yield 4.46% 5.18% 10.2% 9.34% 4.24% 11% 10.3% 11.3%
Dividend per Share 2 5.5 6.25 7 7 7.5 8.383 9.94 10.64
Rate of return 3.35% 5.48% 5.42% 4.95% 4.75% 5.08% 6.02% 6.45%
EPS 2 6.7 7.57 7.14 6.87 7.73 10.9 11.63 12.71
Distribution rate 82.1% 82.6% 98% 102% 97% 76.9% 85.5% 83.7%
Net sales 1 41,316 32,397 34,704 34,583 37,376 41,270 42,711 45,210
EBITDA 1 1,660 1,811 1,932 1,908 2,156 2,368 2,648 2,834
EBIT 1 1,046 1,196 1,244 1,211 1,385 1,585 1,834 1,980
Net income 1 763 851 800 775 878 1,270 1,300 1,418
Net Debt 1 169 1,081 961 1,382 975 -207 -566.5 -913.5
Reference price 2 164.00 114.00 129.20 141.40 157.80 165.00 165.00 165.00
Nbr of stocks (in thousands) 1,11,522 1,10,598 1,11,076 1,11,833 1,11,430 1,11,440 - -
Announcement Date 08/02/22 09/02/23 08/02/24 06/02/25 10/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (N) EV / Sales (N) EV / EBITDA (N) Dividend Yield (N) Capi.($)
21.6x3.56x12.43x3.08% 21TCr
21.58x4.56x11.19x0.77% 19TCr
-607.69x43.23x177.59x-.--% 13TCr
-129.95x18.06x99.96x-.--% 12TCr
13.16x1.47x7.72x3.65% 11TCr
13.16x2.39x9.01x6.24% 7.66TCr
19.26x5.15x12.66x2.91% 5.74TCr
-16.8x7.28x12.38x-.--% 4.74TCr
22.08x1.83x11.56x1.41% 4.34TCr
Average -71.51x 9.72x 39.39x 2.01% 10.75TCr
Weighted average by Cap. -81.81x 10.51x 43.30x 1.95%

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