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Norsk Hydro ASA
OTC:NHYKF

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Norsk Hydro ASA Logo
Norsk Hydro ASA
OTC:NHYKF
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Price: 5.585 USD 1.04% Market Closed
Updated: Mar 19, 2024

Intrinsic Value

Norsk Hydro ASA engages in producing and supplying alumina and primary aluminum. [ Read More ]

The intrinsic value of one NHYKF stock under the Base Case scenario is 9.461 USD. Compared to the current market price of 5.585 USD, Norsk Hydro ASA is Undervalued by 41%.

Key Points:
NHYKF Intrinsic Value
Base Case
9.461 USD
Undervaluation 41%
Intrinsic Value
Price
Worst Case
Base Case
Best Case

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Norsk Hydro ASA

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Fundamental Analysis

Hydro Reports Mixed Q4 Results, Ups Dividends
2023-Q4 Earnings Call

Hydro Reports Mixed Q4 Results, Ups Dividends

In Q4, Hydro's adjusted EBITDA fell by NOK 200 million to NOK 3.7 billion, attributed to lower sales and volumes, although free cash flow was positive at NOK 6.9 billion including Alunorte proceeds. The company released NOK 3 billion in working capital, ending 2023 with a total release of NOK 7 billion. Hydro exceeded their improvement target by NOK 400 million reaching NOK 8.8 billion, with a notable NOK 2.8 billion from commercial initiatives. Despite difficult alumina market conditions which led to a NOK 4.9 billion impairment, the company proposed a generous cash dividend distribution of 59% and a new NOK 2 billion share buyback program, making the total distribution 81.5% of adjusted net income. The adjusted Return on Average Capital Employed (RoaCE) for 2023 was 7.1%, below the 11% achieved over the last five years. Alumina prices ended the quarter at $350 per metric ton, recently stabilizing around $370 amid market tightness. Looking ahead, the global aluminum market is expected to balance out in 2024 with a 7% projected demand decline in extrusions for Europe and North America.

Financials

Balance Sheet Decomposition
Norsk Hydro ASA

Current Assets 80B
Cash & Short-Term Investments 29.2B
Receivables 25.4B
Other Current Assets 25.4B
Non-Current Assets 126.5B
Long-Term Investments 21.2B
PP&E 75B
Intangibles 8.4B
Other Non-Current Assets 21.8B
Current Liabilities 43.9B
Accounts Payable 26.2B
Other Current Liabilities 17.7B
Non-Current Liabilities 62B
Long-Term Debt 29B
Other Non-Current Liabilities 33B
Efficiency

Earnings Waterfall
Norsk Hydro ASA

Revenue
193.6B NOK
Cost of Revenue
-123.5B NOK
Gross Profit
70.1B NOK
Operating Expenses
-56.6B NOK
Operating Income
13.5B NOK
Other Expenses
-9.9B NOK
Net Income
3.6B NOK

Free Cash Flow Analysis
Norsk Hydro ASA

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3-Years Average
FCF Margin
Conversion Rate
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Fundamental Scores

NHYKF Profitability Score
Profitability Due Diligence

Norsk Hydro ASA's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

Positive Gross Profit
Positive 3-Years Revenue Growth
Positive Free Cash Flow
Positive 3-Year Average ROE
54/100
Profitability
Score

Norsk Hydro ASA's profitability score is 54/100. The higher the profitability score, the more profitable the company is.

NHYKF Solvency Score
Solvency Due Diligence

Norsk Hydro ASA's solvency score is 59/100. The higher the solvency score, the more solvent the company is.

Low D/E
Long-Term Solvency
Short-Term Solvency
Negative Net Debt
59/100
Solvency
Score

Norsk Hydro ASA's solvency score is 59/100. The higher the solvency score, the more solvent the company is.

Wall St
Price Targets

NHYKF Price Targets Summary
Norsk Hydro ASA

Wall Street analysts forecast NHYKF stock price to rise over the next 12 months.

According to Wall Street analysts, the average 1-year price target for NHYKF is 7.236 USD with a low forecast of 4.864 USD and a high forecast of 11.126 USD.

Lowest
Price Target
4.864 USD
13% Downside
Average
Price Target
7.236 USD
30% Upside
Highest
Price Target
11.126 USD
99% Upside
View Analyst Estimates
View Analyst Estimates

Competitive Landscape

Shareholder Return

NHY Price
Norsk Hydro ASA

1M 1M
+2%
6M 6M
-6%
1Y 1Y
-14%
3Y 3Y
+32%
5Y 5Y
+110%
10Y 10Y
+205%
Annual Price Range
58.22
52w Low
53.6
52w High
75.7754
Price Metrics
Average Annual Return 28.43%
Standard Deviation of Annual Returns 36.07%
Max Drawdown -46%
Shares Statistics
Market Capitalization 117.1B NOK
Shares Outstanding 2 004 950 016
Percentage of Shares Shorted
N/A

NHY Return Decomposition
Main factors of price return

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NHYKF News

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Company Profile

Norsk Hydro ASA Logo
Norsk Hydro ASA

Country

Norway

Industry

Metals & Mining

Market Cap

117.1B USD

Dividend Yield

0%

Description

Norsk Hydro ASA engages in producing and supplying alumina and primary aluminum. The company is headquartered in Oslo, Oslo. The firm operates through six segments: Bauxite & Alumina, which includes bauxite mining activities, production of alumina and related commercial activities, primarily the sale of alumina; Primary Metal, which includes primary aluminum production and casting activities; Metal Markets, which include sales activities relating to products from the its primary metal plants and operational responsibility for Hydro's stand-alone remelters, as well as physical and financial metal trading activities; Rolled Products, which include Hydro's rolling mills; Energy, which includes energy sourcing for Hydro's aluminum operations around the world, and Other and eliminations, which consists of its captive insurance company Industriforsikring, its industry parks, internal service providers, operation of Sapa and other activities.

Contact

OSLO
Oslo
Drammensveien 264
+4722538100.0
https://www.hydro.com/

IPO

1909-04-16

Employees

34 240

Officers

President, CEO & Member of Corporate Management Board
Ms. Hilde Merete Aasheim
Executive VP, CFO & Member of the Corporate Management Board
Mr. Pal Kildemo
Executive VP of Energy & Member of Corporate Management Board
Mr. Arvid Moss
Executive VP of Aluminium Metal & Member of Corporate Management Board
Mr. Eivind Kallevik
Executive VP of Compliance, IP & General Counsel and Member of Corporate Management Board
Ms. Anne-Lene Midseim
Executive VP of Bauxite & Alumina and Member of Corporate Management Board
Mr. John Gabriel Thuestad
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Executive VP of People & HSE and Member of Corporate Management Board
Ms. Hilde Vestheim Nordh
Executive VP of Hydro Extruded Solutions & Member of Corporate Management Board
Mr. Paul Warton
Executive VP for Communication & Public Affairs and Member of Corporate Management Board
Ms. Therese Rod Holm
Executive VP for Corporate Development, Member of Corporate Management Board & Head of Recycling
Mr. Trond Olaf Christophersen
Show Less

See Also

Discover More
What is the Intrinsic Value of one NHYKF stock?

The intrinsic value of one NHYKF stock under the Base Case scenario is 9.461 USD.

Is NHYKF stock undervalued or overvalued?

Compared to the current market price of 5.585 USD, Norsk Hydro ASA is Undervalued by 41%.