Norsk Hydro ASA

BATS-CHIXE:NHYO Stock Report

Market Cap: NOK 127.0b

Norsk Hydro Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: NHYO (NOK63.79) is trading below our estimate of fair value (NOK166.89)

Significantly Below Fair Value: NHYO is trading below fair value by more than 20%.

Key Valuation Metric

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

Key metric: As NHYO is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for NHYO. This is calculated by dividing NHYO's market cap by their current earnings.
What is NHYO's PE Ratio?
PE Ratio94.7x
EarningsNOK 1.34b
Market CapNOK 126.95b

Price to Earnings Ratio vs Peers

How does NHYO's PE Ratio compare to its peers?

The above table shows the PE ratio for NHYO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average21.1x
FRES Fresnillo
23.9x33.8%UK£4.8b
ANTO Antofagasta
25.8x18.3%UK£15.9b
NLMK Novolipetsk Steel
0.8xn/aUS$4.1b
SMDS DS Smith
33.7x20.0%UK£7.6b
NHYO Norsk Hydro
94.7x47.6%NOK 127.0b

Price-To-Earnings vs Peers: NHYO is expensive based on its Price-To-Earnings Ratio (94.7x) compared to the peer average (27.8x).

Price to Earnings Ratio vs Industry

How does NHYO's PE Ratio compare vs other companies in the GB Metals and Mining Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
NLMK Novolipetsk Steel
0.8xn/aUS$4.08b
EVR EVRAZ
0.4xn/aUS$1.42b
MTL Metals Exploration
0.9xn/aUS$119.76m
TGR Tirupati Graphite
1.2xn/aUS$10.50m
No more companies available in this PE range
No. of Companies7PE0816243240+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: NHYO is expensive based on its Price-To-Earnings Ratio (94.7x) compared to the UK Metals and Mining industry average (9.1x).

Price to Earnings Ratio vs Fair Ratio

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

NHYO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio94.7x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate NHYO's Price-To-Earnings Fair Ratio for valuation analysis.

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 NHYO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 63.79
NOK 79.80
+25.1%
13.0%NOK 94.00NOK 55.00n/a15
Dec ’25NOK 68.03
NOK 79.00
+16.1%
13.3%NOK 94.00NOK 55.00n/a15
Nov ’25NOK 68.67
NOK 78.60
+14.5%
12.8%NOK 92.00NOK 55.00n/a15
Oct ’25NOK 68.42
NOK 77.21
+12.9%
15.6%NOK 92.00NOK 50.00n/a14
Sep ’25NOK 59.04
NOK 77.21
+30.8%
15.3%NOK 92.00NOK 50.00n/a14
Aug ’25n/a
NOK 78.36
0%
14.3%NOK 92.00NOK 50.00n/a14
Jul ’25n/a
NOK 78.57
0%
13.5%NOK 93.00NOK 50.00n/a14
Jun ’25NOK 70.69
NOK 76.08
+7.6%
12.7%NOK 85.00NOK 50.00n/a13
May ’25n/a
NOK 76.08
0%
13.7%NOK 90.00NOK 50.00n/a13
Apr ’25n/a
NOK 73.62
0%
13.8%NOK 87.00NOK 50.00n/a13
Mar ’25NOK 56.09
NOK 73.62
+31.2%
14.6%NOK 87.00NOK 50.00n/a13
Feb ’25n/a
NOK 75.69
0%
14.3%NOK 89.00NOK 55.00n/a13
Jan ’25n/a
NOK 74.15
0%
15.8%NOK 92.00NOK 55.00n/a13
Dec ’24NOK 64.30
NOK 74.00
+15.1%
18.3%NOK 95.00NOK 55.00NOK 68.0313
Nov ’24NOK 60.25
NOK 75.08
+24.6%
18.8%NOK 100.00NOK 55.00NOK 68.6713
Oct ’24NOK 65.38
NOK 77.15
+18.0%
19.1%NOK 100.00NOK 55.00NOK 68.4213
Sep ’24n/a
NOK 78.43
0%
18.6%NOK 100.00NOK 55.00NOK 59.0414
Aug ’24NOK 66.66
NOK 79.86
+19.8%
17.5%NOK 100.00NOK 55.00n/a14
Jul ’24NOK 64.21
NOK 83.57
+30.2%
19.5%NOK 115.00NOK 55.00n/a14
Jun ’24NOK 66.98
NOK 85.00
+26.9%
19.0%NOK 115.00NOK 55.00NOK 70.6914
May ’24NOK 76.20
NOK 84.71
+11.2%
19.4%NOK 115.00NOK 55.00n/a14
Apr ’24NOK 78.04
NOK 82.14
+5.3%
17.0%NOK 100.00NOK 55.00n/a14
Mar ’24NOK 75.70
NOK 81.50
+7.7%
17.5%NOK 100.00NOK 55.00NOK 56.0912
Feb ’24NOK 80.99
NOK 77.15
-4.7%
17.6%NOK 94.00NOK 55.00n/a13
Jan ’24NOK 73.14
NOK 73.29
+0.2%
18.8%NOK 93.00NOK 55.00n/a14

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/02 14:08
End of Day Share Price 2025/01/02 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

Norsk Hydro ASA is covered by 41 analysts. 12 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Bengt JonassenABG Sundal Collier
Thomas LorckArctic Securities ASA
Amos FletcherBarclays