Company Valuation: Moreld ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2024 2025 2026 2027 2028
Market Cap 1 2,549 3,334 4,363 - -
Change - 30.82% 30.86% - -
Enterprise Value (EV) 1 4,723 5,095 6,238 6,022 5,799
Change - 7.89% 22.44% -3.46% -3.7%
P/E -3.3x 11.8x 13.9x 9.43x 8.88x
PBR 3.65x 4.26x 5.83x 5.23x 4.57x
PEG - -0x 1.44x 0.2x 1.44x
Capitalization / Revenue 0.28x 0.34x 0.54x 0.55x 0.53x
EV / Revenue 0.52x 0.52x 0.77x 0.75x 0.71x
EV / EBITDA 4.39x 4.63x 7.92x 6.43x 6.03x
EV / EBIT 5.54x 6.29x 10.4x 8.08x 7.53x
EV / FCF 3.57x 3.65x 7.41x 6.15x 4.3x
FCF Yield 28% 27.4% 13.5% 16.3% 23.3%
Dividend per Share 2 0.42 1.68 1.92 2.075 2.1
Rate of return 2.9% 8.95% 7.9% 8.54% 8.64%
EPS 2 -4.39 1.59 1.744 2.576 2.736
Distribution rate -9.57% 106% 110% 80.5% 76.8%
Net sales 1 9,151 9,838 8,111 8,000 8,161
EBITDA 1 1,075 1,101 787.6 936.4 962.1
EBIT 1 852.2 810.5 601 744.9 770.6
Net income 1 -788.6 284.7 306.2 452.7 481.2
Net Debt 1 2,174 1,761 1,875 1,659 1,436
Reference price 2 14.50 18.78 24.30 24.30 24.30
Nbr of stocks (in thousands) 1,75,828 1,77,541 1,79,555 - -
Announcement Date 14/02/25 12/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
13.99x0.77x7.94x7.87% 47Cr
53.54x2.47x23.6x0.07% 9.31TCr
12.33x1.06x5.78x4.74% 7.16TCr
32.68x4.1x22.26x0.21% 5.58TCr
25.67x1.98x19.49x1.19% 5.48TCr
50.29x4x25.44x1.88% 3.99TCr
26.58x0.67x10.99x2.32% 3.37TCr
22.58x1.54x14.19x0.2% 3.26TCr
21.73x0.43x6.87x2.76% 2.98TCr
4.89x0.31x5.77x6% 2.61TCr
Average 26.43x 1.73x 14.23x 2.73% 4.38TCr
Weighted average by Cap. 30.87x 2.05x 16.28x 1.89%

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

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