Nel ASA

DB:D7G Stock Report

Market Cap: €443.5m

Nel Valuation

Is D7G undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of D7G when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate D7G's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate D7G's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for D7G?

Key metric: As D7G is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for D7G. This is calculated by dividing D7G's market cap by their current revenue.
What is D7G's PS Ratio?
PS Ratio3x
SalesNOK 1.72b
Market CapNOK 5.19b

Price to Sales Ratio vs Peers

How does D7G's PS Ratio compare to its peers?

The above table shows the PS ratio for D7G vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average3.3x
EKT Energiekontor
2.3x27.9%€580.9m
2GB 2G Energy
1.1x11.9%€395.6m
PNE3 PNE
6.9x19.5%€851.8m
H2O Enapter
2.9x42.8%€114.8m
D7G Nel
2.8x19.7%€4.9b

Price-To-Sales vs Peers: D7G is good value based on its Price-To-Sales Ratio (2.8x) compared to the peer average (3.3x).

Price to Sales Ratio vs Industry

How does D7G's PS Ratio compare vs other companies in the DE Electrical Industry?

3 CompaniesPrice / SalesEstimated GrowthMarket Cap
VAR1 Varta
0.1x4.3%US$90.10m
C0M Compleo Charging Solutions
0.1x27.6%US$15.58m
LMIA LION E-Mobility
0.2x29.5%US$8.94m
No more companies available in this PS range
D7G 3.0xIndustry Avg. 1.0xNo. of Companies3PS012345+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: D7G is expensive based on its Price-To-Sales Ratio (2.8x) compared to the European Electrical industry average (1x).

Price to Sales Ratio vs Fair Ratio

What is D7G's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

D7G PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio3x
Fair PS Ratio1.7x

Price-To-Sales vs Fair Ratio: D7G is expensive based on its Price-To-Sales Ratio (2.8x) compared to the estimated Fair Price-To-Sales Ratio (1.7x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst D7G forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.25
€0.41
+63.4%
49.2%€1.03€0.17n/a18
Nov ’25€0.35
€0.42
+20.3%
45.8%€1.01€0.21n/a18
Oct ’25€0.40
€0.51
+27.8%
36.1%€1.02€0.26n/a19
Sep ’25€0.46
€0.53
+15.8%
36.5%€1.03€0.26n/a20
Aug ’25€0.50
€0.53
+6.0%
36.4%€1.02€0.28n/a20
Jul ’25€0.54
€0.54
+0.08%
38.6%€1.14€0.30n/a21
Jun ’25€0.69
€0.56
-19.6%
42.8%€1.12€0.30n/a21
May ’25€0.43
€0.55
+27.7%
45.7%€1.11€0.30n/a22
Apr ’25€0.42
€0.60
+43.7%
41.4%€1.10€0.30n/a22
Mar ’25€0.43
€0.65
+50.8%
38.3%€1.14€0.31n/a23
Feb ’25€0.47
€0.76
+62.1%
35.0%€1.33€0.35n/a20
Jan ’25€0.62
€0.86
+38.6%
48.1%€1.96€0.38n/a20
Dec ’24€0.69
€0.96
+39.7%
49.2%€1.97€0.38n/a19
Nov ’24€0.65
€0.96
+49.0%
48.6%€1.95€0.38€0.3519
Oct ’24€0.75
€1.33
+77.2%
37.8%€2.21€0.62€0.4019
Sep ’24€0.99
€1.34
+34.8%
34.8%€2.17€0.61€0.4621
Aug ’24€1.21
€1.39
+14.7%
33.7%€2.22€0.62€0.5021
Jul ’24€1.08
€1.34
+23.5%
33.7%€2.13€0.60€0.5421
Jun ’24€1.20
€1.36
+13.6%
31.1%€2.10€0.59€0.6921
May ’24€1.24
€1.37
+10.3%
31.5%€2.13€0.60€0.4321
Apr ’24€1.25
€1.42
+13.6%
31.3%€2.21€0.62€0.4221
Mar ’24€1.40
€1.43
+2.3%
32.2%€2.26€0.63€0.4321
Feb ’24€1.59
€1.36
-14.3%
33.2%€2.40€0.67€0.4721
Jan ’24€1.31
€1.36
+4.1%
33.2%€2.40€0.67€0.6221
Dec ’23€1.47
€1.35
-8.3%
33.0%€2.38€0.67€0.6921
Nov ’23€1.27
€1.41
+11.1%
34.2%€2.42€0.68€0.6520

Analyst Forecast: Target price is more than 20% higher than the current share price, but analysts are not within a statistically confident range of agreement.

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