` Comparison: NORAM, TEN - Alpha Spread

N
NORAM
vs
TEN

Over the past 12 months, NORAM has underperformed TEN, delivering a return of -6% compared to the TEN's 4% drop.

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NORAM
TEN
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Stocks Compared:
NORAM TEN
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Valuation Comparison

N
NORAM Intrinsic Value
38.64 NOK
Undervaluation 15%
Intrinsic Value
Price
TEN Intrinsic Value
13.997 EUR
Overvaluation 21%
Intrinsic Value
Price
Company Last Price Intrinsic Value DCF Value Relative Value Wall St Target
N
Noram Drilling AS
OSE:NORAM
32.9 NOK
Tenaris SA
MIL:TEN
17.645 EUR
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Valuation Scenario:
Bear Case
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Growth Comparison

Growth Over Time
NORAM, TEN

NORAM
TEN
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Revenue
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Company LTM Historical Growth Growth Streak % Positive Years Max Drawdown Volatility Forecasted Growth
3 Years 5 Years 10 Years 1 Year 3 Years
N
Noram Drilling AS
Revenue
Tenaris SA
Revenue

All metrics are calculated based on data from the last 10 years.

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Profitability Comparison

Free Cash Flow
NORAM, TEN

NORAM
TEN
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Free Cash Flow
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Company LTM Average Historical Growth FCF Margin Conversion
3 Years 5 Years 3 Years 5 Years 10 Years
N
Noram Drilling AS
OSE:NORAM
Tenaris SA
MIL:TEN
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What is Free Cash Flow?

Gross Margin

NORAM
71.8%
TEN
34.1%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

Operating Margin

NORAM
11.2%
TEN
18.9%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

Net Margin

NORAM
9.2%
TEN
16.9%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

FCF Margin

NORAM
17.1%
TEN
13.8%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

ROE

NORAM
14.4%
TEN
11.7%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

ROA

NORAM
11.5%
TEN
9.6%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

ROIC

NORAM
13.6%
TEN
10.8%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

ROCE

NORAM
16.3%
TEN
12.2%
LTM 3Y Avg 5Y Avg 10Y Avg
N
Noram Drilling AS
Tenaris SA

Solvency Comparison

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Balance Sheet Comparison
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Stocks Performance

Stocks Performance
NORAM, TEN

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TEN
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Performance Gap
NORAM, TEN

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NORAM
TEN
Difference
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1Y 3Y 5Y 10Y 15Y 20Y

Performance By Year
NORAM, TEN

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