Norsk Hydro Valuation

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

NHYO (NOK66.44) is trading below our estimate of [[fair value]] (NOK113.58)

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

Valuation Score

4/6

Valuation Score 4/6

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 NHYO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: NHYO (NOK66.44) is trading below our estimate of fair value (NOK113.58)

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?

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for NHYO. This is calculated by dividing NHYO's market cap by their current preferred multiple.
What is NHYO's n/a Ratio?
n/a	0x
n/a	n/a
Market Cap	NOK 136.85b

NHYO key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	0.8x
Enterprise Value/EBITDA	3.6x
PEG Ratio	15x

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for NHYO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.7x
ENPL En+ Group International	0.3x	1.6%	US$4.7b
FRES Fresnillo	2.4x	2.7%	UK£5.2b
ANTO Antofagasta	3.7x	8.2%	UK£18.0b
NLMK Novolipetsk Steel	0.3x	n/a	US$4.1b
NHYO Norsk Hydro	0.7x	2.8%	NOK 136.8b

Price-To-Sales vs Peers: NHYO is good value based on its Price-To-Sales Ratio (0.7x) compared to the peer average (3x).

Price to Earnings Ratio vs Industry

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

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	22.2%
	n/a	n/a	n/a

Fetching data

0 Companies	Price / Earnings	Estimated Growth	Market Cap
Industry Avg.	n/a	22.2%
	n/a	n/a	n/a

No more companies

Price-To-Sales vs Industry: NHYO is good value based on its Price-To-Sales Ratio (0.7x) compared to the UK Metals and Mining industry average (2x).

Price to Sales Ratio vs Fair Ratio

What is NHYO'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.

NHYO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	0.7x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate NHYO's Price-To-Sales 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.
Date	Share Price	Average 1Y Price Target	Dispersion	High	Low	1Y Actual price	Analysts
Current	n/a	NOK 77.86 0%	14.2%	NOK 90.00	NOK 50.00	n/a	14
Oct ’25	NOK 68.42	NOK 77.21 +12.9%	15.6%	NOK 92.00	NOK 50.00	n/a	14
Sep ’25	NOK 59.04	NOK 77.21 +30.8%	15.3%	NOK 92.00	NOK 50.00	n/a	14
Aug ’25	n/a	NOK 78.36 0%	14.3%	NOK 92.00	NOK 50.00	n/a	14
Jul ’25	n/a	NOK 78.57 0%	13.5%	NOK 93.00	NOK 50.00	n/a	14
Jun ’25	NOK 70.69	NOK 76.08 +7.6%	12.7%	NOK 85.00	NOK 50.00	n/a	13
May ’25	n/a	NOK 76.08 0%	13.7%	NOK 90.00	NOK 50.00	n/a	13
Apr ’25	n/a	NOK 73.62 0%	13.8%	NOK 87.00	NOK 50.00	n/a	13
Mar ’25	NOK 56.09	NOK 73.62 +31.2%	14.6%	NOK 87.00	NOK 50.00	n/a	13
Feb ’25	n/a	NOK 75.69 0%	14.3%	NOK 89.00	NOK 55.00	n/a	13
Jan ’25	n/a	NOK 74.15 0%	15.8%	NOK 92.00	NOK 55.00	n/a	13
Dec ’24	NOK 64.30	NOK 74.00 +15.1%	18.3%	NOK 95.00	NOK 55.00	n/a	13
Nov ’24	NOK 60.25	NOK 75.08 +24.6%	18.8%	NOK 100.00	NOK 55.00	n/a	13
Oct ’24	NOK 65.38	NOK 77.15 +18.0%	19.1%	NOK 100.00	NOK 55.00	NOK 68.42	13
Sep ’24	n/a	NOK 78.43 0%	18.6%	NOK 100.00	NOK 55.00	NOK 59.04	14
Aug ’24	NOK 66.66	NOK 79.86 +19.8%	17.5%	NOK 100.00	NOK 55.00	n/a	14
Jul ’24	NOK 64.21	NOK 83.57 +30.2%	19.5%	NOK 115.00	NOK 55.00	n/a	14
Jun ’24	NOK 66.98	NOK 85.00 +26.9%	19.0%	NOK 115.00	NOK 55.00	NOK 70.69	14
May ’24	NOK 76.20	NOK 84.71 +11.2%	19.4%	NOK 115.00	NOK 55.00	n/a	14
Apr ’24	NOK 78.04	NOK 82.14 +5.3%	17.0%	NOK 100.00	NOK 55.00	n/a	14
Mar ’24	NOK 75.70	NOK 81.50 +7.7%	17.5%	NOK 100.00	NOK 55.00	NOK 56.09	12
Feb ’24	NOK 80.99	NOK 77.15 -4.7%	17.6%	NOK 94.00	NOK 55.00	n/a	13
Jan ’24	NOK 73.14	NOK 73.29 +0.2%	18.8%	NOK 93.00	NOK 55.00	n/a	14
Dec ’23	NOK 73.09	NOK 72.29 -1.1%	18.7%	NOK 90.00	NOK 55.00	NOK 64.30	14
Nov ’23	NOK 67.64	NOK 71.93 +6.3%	18.6%	NOK 90.00	NOK 55.00	NOK 60.25	14
Oct ’23	NOK 58.88	NOK 76.14 +29.3%	19.9%	NOK 100.00	NOK 50.00	NOK 65.38	14

Analyst Forecast: Target price is less than 20% higher than the current share price.