Nel Future Growth

Future criteria checks 1/6

Nel is forecast to grow earnings and revenue by 34.5% and 19.7% per annum respectively. EPS is expected to grow by 37.5% per annum. Return on equity is forecast to be -4.6% in 3 years.

Key information

34.5%

Earnings growth rate

37.5%

EPS growth rate

Electrical earnings growth	31.6%
Revenue growth rate	19.7%
Future return on equity	-4.6%
Analyst coverage	Good
Last updated	22 Nov 2024

Recent future growth updates

Recent updates

Earnings and Revenue Growth Forecasts

LSE:0E4Q - Analysts future estimates and past financials data (NOK Millions)
Date	Revenue	Earnings	Free Cash Flow	Cash from Op	Avg. No. Analysts
12/31/2026	2,444	-226	-698	-45	16
12/31/2025	1,679	-355	-590	-255	17
12/31/2024	1,517	-302	-936	-237	17
9/30/2024	1,718	-533	-1,292	-407	N/A
6/30/2024	1,654	-585	-1,415	-554	N/A
3/31/2024	1,693	-695	-1,481	-703	N/A
12/31/2023	1,681	-855	-1,409	-670	N/A
9/30/2023	1,307	-1,237	-1,239	-723	N/A
6/30/2023	1,180	-1,329	-1,117	-647	N/A
3/31/2023	982	-1,376	-897	-560	N/A
12/31/2022	915	-1,171	-969	-691	N/A
9/30/2022	781	-720	-876	-599	N/A
6/30/2022	827	-967	-869	-596	N/A
3/31/2022	805	-1,005	-786	-424	N/A
12/31/2021	753	-1,667	-827	-449	N/A
9/30/2021	723	-102	-817	-441	N/A
6/30/2021	621	-222	-725	-392	N/A
3/31/2021	607	687	-648	-396	N/A
12/31/2020	578	1,262	-448	-216	N/A
9/30/2020	516	-127	-370	-177	N/A
6/30/2020	543	468	-309	-142	N/A
3/31/2020	522	-222	-318	-173	N/A
12/31/2019	519	-270	-319	-200	N/A
9/30/2019	477	-231	-289	-189	N/A
6/30/2019	445	-264	-290	-195	N/A
3/31/2019	457	-210	-223	-136	N/A
12/31/2018	453	-189	-237	-143	N/A
9/30/2018	449	-112	-192	-107	N/A
6/30/2018	442	-79	N/A	-197	N/A
3/31/2018	352	-67	N/A	-137	N/A
12/31/2017	275	-52	N/A	-113	N/A
9/30/2017	220	-94	N/A	-80	N/A
6/30/2017	135	-73	N/A	35	N/A
3/31/2017	109	-62	N/A	-27	N/A
12/31/2016	98	-56	N/A	-34	N/A
9/30/2016	85	-50	N/A	-76	N/A
6/30/2016	89	-39	N/A	-75	N/A
3/31/2016	110	-31	N/A	-58	N/A
12/31/2015	89	-22	N/A	-38	N/A
9/30/2015	72	-3	N/A	-9	N/A
6/30/2015	46	-3	N/A	3	N/A
3/31/2015	12	-3	N/A	10	N/A
12/31/2014	12	-7	N/A	3	N/A
9/30/2014	0	-20	N/A	-15	N/A
6/30/2014	0	-28	N/A	-23	N/A
3/31/2014	0	-31	N/A	-33	N/A
12/31/2013	0	-37	N/A	-35	N/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: 0E4Q is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: 0E4Q is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: 0E4Q is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: 0E4Q's revenue (19.7% per year) is forecast to grow faster than the UK market (3.5% per year).

High Growth Revenue: 0E4Q's revenue (19.7% per year) is forecast to grow slower than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: 0E4Q is forecast to be unprofitable in 3 years.

Nel Future Growth

Future criteria checks 1/6

Key information

Recent future growth updates

No longer forecast to breakeven

Recent updates

Third quarter 2024 earnings released: kr0.069 loss per share (vs kr0.14 loss in 3Q 2023)

Nel ASA(OB:NEL) dropped from Oslo OBX Total Return Index

New minor risk - Profitability

Second quarter 2024 earnings released: kr0.07 loss per share (vs kr0.14 loss in 2Q 2023)

Nel ASA to Report Q3, 2025 Results on Oct 29, 2025

Nel ASA completed the Spin-Off of Cavendish Hydrogen ASA (OB:CAVEN).

First quarter 2024 earnings released: kr0.013 loss per share (vs kr0.12 loss in 1Q 2023)

Now 22% undervalued after recent price drop

Now 22% undervalued after recent price drop

Full year 2023 earnings released: kr0.52 loss per share (vs kr0.76 loss in FY 2022)

No longer forecast to breakeven

Now 20% overvalued

ITOCHU Corporation (TSE:8001) and Osaka Gas Co., Ltd. (TSE:9532) agreed to acquire 13.56% stake in Everfuel A/S (OB:EFUEL) from Nel ASA (OB:NEL) for NOK 120 million.

New minor risk - Share price stability

Third quarter 2023 earnings released: kr0.14 loss per share (vs kr0.17 loss in 3Q 2022)

New major risk - Revenue and earnings growth

Second quarter 2023 earnings released: kr0.20 loss per share (vs kr0.18 loss in 2Q 2022)

Nel ASA to Report Q3, 2024 Results on Oct 16, 2024

High number of new directors

First quarter 2023 earnings released: kr0.12 loss per share (vs kr0.057 profit in 1Q 2022)

Full year 2022 earnings released: kr0.76 loss per share (vs kr1.14 loss in FY 2021)

An unknown buyer acquired a 17.64% stake in Hyon AS (OB:HYON) from Nel ASA (OB:NEL) for NOK 7 million.

Nel ASA to Report Fiscal Year 2022 Results on Feb 28, 2023

Third quarter 2022 earnings released: kr0.17 loss per share (vs kr0.35 loss in 3Q 2021)

Second quarter 2022 earnings released: kr0.18 loss per share (vs kr0.21 loss in 2Q 2021)

First quarter 2022 earnings released: EPS: kr0.057 (vs kr0.45 loss in 1Q 2021)

Nel ASA to Report Q2, 2022 Results on Aug 11, 2022

Chief Executive Officer recently sold kr13m worth of stock

Full year 2021 earnings: EPS in line with expectations, revenues disappoint

Third quarter 2021 earnings released: kr0.35 loss per share (vs kr0.47 loss in 3Q 2020)

Second quarter 2021 earnings released: kr0.21 loss per share (vs kr0.45 profit in 2Q 2020)

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

First quarter 2021 earnings released: kr0.45 loss per share (vs kr0.003 loss in 1Q 2020)

Investor sentiment deteriorated over the past week

Investor sentiment improved over the past week

Full year 2020 earnings released

New 90-day low: kr22.89

Nel ASA has completed a Follow-on Equity Offering in the amount of NOK 1.225125 billion.

Full year 2020 earnings released: EPS kr0.92 (vs kr0.22 loss in FY 2019)

Revenue beats expectations

Everfuel Signs Contract with Nel for Delivery of 20 MW Electrolyser

New 90-day high: kr28.77

New 90-day high: kr25.19

New 90-day high: kr22.95

Chief Executive Officer recently sold kr14m worth of stock

Nel ASA Announces Nel Hydrogen Fueling Receives A Purchase Order for Multiple H2station Units for Fueling of Light-Duty Vehicles in California

Nel ASA to Report Fiscal Year 2020 Final Results on Mar 25, 2021

Revenue misses expectations

Third quarter 2020 earnings released: kr472 loss per share

Nel ASA Receives First H2Station Order in Poland

Market bids up stock over the past week

Insider recently bought kr1.5m worth of stock

New 90-day low: kr15.56

Nel Wins Contract to Supply 2.5-Mw Electrolyser in Europe

Nel ASA has completed a Follow-on Equity Offering in the amount of NOK 125.7984 million.

Earnings released

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings per Share Growth Forecasts

Future Return on Equity

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