Company Valuation: Scatec ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,255 12,478 13,055 12,643 16,877 15,585 - -
Change - -48.56% 4.62% -3.16% 33.49% -7.65% - -
Enterprise Value (EV) 1 39,204 32,056 36,339 37,282 42,540 45,070 55,115 57,532
Change - -18.23% 13.36% 2.59% 14.1% 5.95% 22.29% 4.38%
P/E 62.9x -9.36x 20.8x 9.65x 16.2x 33.6x 11.5x 7.41x
PBR 2.62x 1.51x 1.5x 1.19x 1.67x 1.49x 1.29x 1.11x
PEG - 0x -0x 0x -0.8x -0.6x 0x 0.1x
Capitalization / Revenue 6.38x 3.33x 2.77x 1.92x 3.22x 2.8x 1.94x 1.5x
EV / Revenue 10.3x 8.55x 7.7x 5.67x 8.12x 8.1x 6.86x 5.52x
EV / EBITDA 13.5x 12.5x 10.2x 6.88x 10.6x 10.7x 9.14x 7.51x
EV / EBIT 19.5x 44.3x 13.8x 9.03x 15x 16.7x 13.1x 10.5x
EV / FCF 3.86x -26.1x -7.32x -266x -11.9x -9.05x -4.23x -76.4x
FCF Yield 25.9% -3.84% -13.7% -0.38% -8.39% -11.1% -23.7% -1.31%
Dividend per Share 2 2.54 1.94 - - - 0.09 0.53 0.962
Rate of return 1.66% 2.47% - - - 0.09% 0.55% 0.99%
EPS 2 2.43 -8.4 3.95 8.24 6.54 2.88 8.438 13.05
Distribution rate 105% -23.1% - - - 3.13% 6.28% 7.37%
Net sales 1 3,803 3,751 4,721 6,574 5,238 5,564 8,040 10,423
EBITDA 1 2,903 2,555 3,567 5,421 4,013 4,201 6,029 7,656
EBIT 1 2,012 723 2,625 4,127 2,845 2,694 4,198 5,489
Net income 1 388 -1,334 628 1,309 1,045 459.5 1,342 2,076
Net Debt 1 14,949 19,578 23,284 24,639 25,663 29,485 39,530 41,946
Reference price 2 152.75 78.60 82.15 79.50 106.20 96.75 96.75 96.75
Nbr of stocks (in thousands) 1,58,792 1,58,756 1,58,917 1,59,028 1,58,917 1,59,849 - -
Announcement Date 03/02/22 03/02/23 26/01/24 31/01/25 30/01/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.23x9.79x16.05x2.27% 2.69TCr
72.76x18.31x21.76x-.--% 2.2TCr
28.69x8.09x10.36x1.29% 1.69TCr
12.43x5.46x9.15x3.06% 798.59Cr
27.87x - - 1.38% 409.87Cr
Average 32.40x 10.41x 14.33x 1.6% 1.56TCr
Weighted average by Cap. 36.48x 11.47x 15.70x 1.45%

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