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 4,354 - -
Change - 30.82% 30.59% - -
Enterprise Value (EV) 1 4,723 5,095 6,229 6,013 5,790
Change - 7.89% 22.26% -3.47% -3.71%
P/E -3.3x 11.8x 13.9x 9.41x 8.86x
PBR 3.65x 4.26x 5.82x 5.22x 4.56x
PEG - -0x 1.44x 0.2x 1.43x
Capitalization / Revenue 0.28x 0.34x 0.54x 0.54x 0.53x
EV / Revenue 0.52x 0.52x 0.77x 0.75x 0.71x
EV / EBITDA 4.39x 4.63x 7.91x 6.42x 6.02x
EV / EBIT 5.54x 6.29x 10.4x 8.07x 7.51x
EV / FCF 3.57x 3.65x 7.4x 6.14x 4.29x
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% 7.92% 8.56% 8.66%
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 24.25 24.25 24.25
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.($)
13.91x0.77x7.91x7.92% 46Cr
55.04x2.54x24.23x0.07% 9.57TCr
12.19x1.05x5.73x4.79% 7.04TCr
34x4.27x23.21x0.2% 5.8TCr
25.94x2x19.66x1.18% 5.53TCr
50.17x3.99x25.34x1.89% 3.95TCr
27.1x0.68x11.21x2.28% 3.41TCr
22.9x1.56x14.41x0.2% 3.31TCr
21.74x0.43x6.87x2.76% 2.97TCr
4.94x0.31x5.78x5.95% 2.64TCr
Average 26.79x 1.76x 14.43x 2.72% 4.43TCr
Weighted average by Cap. 31.58x 2.10x 16.66x 1.86%

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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