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Nel ASA
OSE:NEL

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Nel ASA
OSE:NEL
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Price: 2.53 NOK 3.69% Market Closed
Market Cap: kr4.7B

P/S

4.8
Current
22%
Cheaper
vs 3-y average of 6.1

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
4.8
=
Market Cap
kr4.1B
/
Revenue
kr955.9m

Price to Sales (P/S) ratio shows how much investors pay for each dollar of a company`s sales. It`s calculated by dividing the company`s market value by its total revenue.

P/S
4.8
=
Market Cap
kr4.1B
/
Revenue
kr955.9m

Valuation Scenarios

Nel ASA is trading below its 3-year average

If P/S returns to its 3-Year Average (6.1), the stock would be worth kr3.23 (28% upside from current price).

Statistics
Positive Scenarios
2/4
Maximum Downside
-56%
Maximum Upside
+112%
Average Upside
17%
Scenario P/S Value Implied Price Upside/Downside
Current Multiple 4.8 kr2.53
0%
3-Year Average 6.1 kr3.23
+28%
5-Year Average 10.1 kr5.36
+112%
Industry Average 4 kr2.15
-15%
Country Average 2.1 kr1.11
-56%

Forward P/S
Today’s price vs future revenue

Today's Market Cap Revenue Forward P/S
kr4.1B
/
Apr 2026
kr955.9m
=
4.8
Current
kr4.1B
/
Dec 2026
kr778.1m
=
5.2
Forward
kr4.1B
/
Dec 2027
kr1.4B
=
2.9
Forward
kr4.1B
/
Dec 2028
kr1.7B
=
2.3
Forward
kr4.1B
/
Dec 2029
kr1.6B
=
2.5
Forward
kr4.1B
/
Dec 2030
kr2.2B
=
1.9
Forward
kr4.1B
/
Dec 2031
kr2.9B
=
1.4
Forward
kr4.1B
/
Dec 2032
kr3.9B
=
1
Forward
kr4.1B
/
Dec 2033
kr5.5B
=
0.7
Forward

Forward P/S shows whether today’s P/S still looks high or low once future revenue are taken into account.

Peer Comparison

All Multiples
P/S
P/E
All Countries
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Market Distribution

Higher than 74% of companies in Norway
Percentile
74th
Based on 676 companies
74th percentile
4.8
Low
0.1 — 1.1
Typical Range
1.1 — 4
High
4 —
Distribution Statistics
Norway
Min 0.1
30th Percentile 1.1
Median 2.1
70th Percentile 4
Max 77 165

Nel ASA
Glance View

NEL ASA operates as a hydrogen company, which provides solutions to produce, store and distribute hydrogen from renewable energy. The company is headquartered in Oslo, Oslo and currently employs 486 full-time employees. The company went IPO on 2004-08-27. The firm delivers solutions to produce, store and distribute hydrogen from renewable energy. Nel ASA serves industries, energy and gas companies with hydrogen technology. The Company’s hydrogen solutions cover the entire value chain from hydrogen production technologies to manufacturing of hydrogen fueling stations, providing fuel cell electric vehicles with the same fueling and long range as conventional vehicles. The Company’s subsidiaries are: H2 Logic A/S in Denmark; Hyme AS, Nel Fuel AS, New Nel Hydrogen Holding AS and RotoBoost H2 AS in Norway, as well as Proton Energy Systems Inc based in the United States.

NEL Intrinsic Value
2.34 NOK
Overvaluation 8%
Intrinsic Value
Price kr2.53
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