Quantafuel (OB:QFUEL) - Share price, News & Analysis

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

QFUEL (NOK14.68) is trading below our estimate of [[fair value]] (NOK164.65)

QFUEL fundamental analysis
Snowflake Score
Valuation	4/6
Future Growth	5/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

QFUEL Stock Overview

Quantafuel ASA, a technology-based energy company, which converts plastic waste to environment friendly fuels and chemicals in Norway.

Rewards

Trading at 91.1% below our estimate of its fair value

Earnings are forecast to grow 84.34% per year

Risk Analysis

Has less than 1 year of cash runway

Volatile share price over the past 3 months

Shareholders have been diluted in the past year

Does not have meaningful revenue (NOK14M)

Quantafuel Competitors

Agilyx

OB:AGLX

kr2.3b

VOW

OB:VOW

kr2.8b

Pyrum Innovations

OB:PYRUM

kr2.2b

Nordic Unmanned

OB:NUMND

kr691.8m

Price History & Performance

Summary of all time highs, changes and price drops for Quantafuel
Historical stock prices
Current Share Price	kr14.18
52 Week High	kr44.40
52 Week Low	kr10.80
Beta	1.52
1 Month Change	-18.13%
3 Month Change	-30.90%
1 Year Change	-67.02%
3 Year Change	15.29%
5 Year Change	n/a
Change since IPO	102.57%

Shareholder Returns

	QFUEL	NO Commercial Services	NO Market
7D	-7.8%	4.1%	-3.4%
1Y	-67.0%	-30.7%	3.2%

Return vs Industry: QFUEL underperformed the Norwegian Commercial Services industry which returned -30.7% over the past year.

Return vs Market: QFUEL underperformed the Norwegian Market which returned 3.2% over the past year.

Price Volatility

Is QFUEL's price volatile compared to industry and market?
QFUEL volatility
QFUEL Average Weekly Movement	11.3%
Commercial Services Industry Average Movement	7.9%
Market Average Movement	7.2%
10% most volatile stocks in NO Market	12.7%
10% least volatile stocks in NO Market	4.0%

Stable Share Price: QFUEL is more volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 11% a week.

Volatility Over Time: QFUEL's weekly volatility (11%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.

About the Company

Founded	Employees	CEO	Website
2014	103	Lars Jensen	https://www.quantafuel.com

Quantafuel ASA, a technology-based energy company, which converts plastic waste to environment friendly fuels and chemicals in Norway. The company was founded in 2014 and is headquartered in Oslo, Norway.

Quantafuel Fundamentals Summary

How do Quantafuel's earnings and revenue compare to its market cap?
QFUEL fundamental statistics
Market Cap	kr2.35b
Earnings (TTM)	-kr191.06m
Revenue (TTM)	kr13.64m

172.4x

P/S Ratio

-12.3x

P/E Ratio

Is QFUEL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
QFUEL income statement (TTM)
Revenue	kr13.64m
Cost of Revenue	kr74.94m
Gross Profit	-kr61.30m
Other Expenses	kr129.77m
Earnings	-kr191.06m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 31, 2022

Earnings per share (EPS)	-1.15
Gross Margin	-449.42%
Net Profit Margin	-1,400.87%
Debt/Equity Ratio	7.2%

How did QFUEL perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

4/6

Valuation Score 4/6

Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Below Fair Value
Significantly Below Fair Value
PEG Ratio

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for QFUEL. This is calculated by dividing QFUEL's market cap by their current preferred multiple.
What is QFUEL's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	kr2.35b

QFUEL 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	145.2x
Enterprise Value/EBITDA	-9.8x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does QFUEL's PB Ratio compare to its peers?

QFUEL PB Ratio vs Peers

The above table shows the PB ratio for QFUEL vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	5.7x
AGLX Agilyx	10.6x	81.0%	kr2.3b
VOW VOW	5.1x	48.8%	kr2.8b
PYRUM Pyrum Innovations	5.3x	85.1%	kr2.2b
NUMND Nordic Unmanned	2.3x	n/a	kr691.8m
QFUEL Quantafuel	1.8x	84.3%	kr2.4b

Price-To-Book vs Peers: QFUEL is good value based on its Price-To-Book Ratio (1.8x) compared to the peer average (5.8x).

Price to Earnings Ratio vs Industry

How does QFUEL's PE Ratio compare vs other companies in the European Commercial Services Industry?

Price-To-Book vs Industry: QFUEL is good value based on its Price-To-Book Ratio (1.8x) compared to the Norwegian Commercial Services industry average (4.9x)

Price to Book Ratio vs Fair Ratio

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

QFUEL PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	1.7x
Fair PB Ratio	n/a

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

Share Price vs Fair Value

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

Below Fair Value: QFUEL (NOK14.68) is trading below our estimate of fair value (NOK164.65)

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

Price to Earnings Growth Ratio

PEG Ratio: Insufficient data to calculate QFUEL's PEG Ratio to determine if it is good value.

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Future Growth

How is Quantafuel forecast to perform in the next 1 to 3 years based on estimates from 4 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

Earnings vs Savings Rate
Earnings vs Market
High Growth Earnings
Revenue vs Market
High Growth Revenue
Future ROE

84.3%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: QFUEL is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: QFUEL is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: QFUEL is expected to become profitable in the next 3 years.

Revenue vs Market: QFUEL's revenue (58.2% per year) is forecast to grow faster than the Norwegian market (0.3% per year).

High Growth Revenue: QFUEL's revenue (58.2% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: QFUEL's Return on Equity is forecast to be low in 3 years time (4.4%).

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Past Performance

How has Quantafuel performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

Quality Earnings
Growing Profit Margin
Earnings Trend
Accelerating Growth
Earnings vs Industry
High ROE

-17.9%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: QFUEL is currently unprofitable.

Growing Profit Margin: QFUEL is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: QFUEL is unprofitable, and losses have increased over the past 5 years at a rate of 17.9% per year.

Accelerating Growth: Unable to compare QFUEL's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: QFUEL is unprofitable, making it difficult to compare its past year earnings growth to the Commercial Services industry (39.1%).

Return on Equity

High ROE: QFUEL has a negative Return on Equity (-13.54%), as it is currently unprofitable.

Discover strong past performing companies

Financial Health

How is Quantafuel's financial position?

Financial Health Score

4/6

Financial Health Score 4/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Stable Cash Runway
Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: QFUEL's short term assets (NOK614.8M) exceed its short term liabilities (NOK85.1M).

Long Term Liabilities: QFUEL's short term assets (NOK614.8M) exceed its long term liabilities (NOK305.0M).

Debt to Equity History and Analysis

Debt Level: QFUEL has more cash than its total debt.

Reducing Debt: Insufficient data to determine if QFUEL's debt to equity ratio has reduced over the past 5 years.

Balance Sheet

Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: QFUEL has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: QFUEL has less than a year of cash runway if free cash flow continues to reduce at historical rates of 29% each year

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Dividend

What is Quantafuel current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

Notable Dividend
High Dividend
Stable Dividend
Growing Dividend
Earnings Coverage
Future Dividend Coverage

Dividend Yield vs Market

Notable Dividend: Unable to evaluate QFUEL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate QFUEL's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.

Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if QFUEL's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if QFUEL's dividend payments have been increasing.

Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.

Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as QFUEL has not reported any payouts.

Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

1.8yrs

Average management tenure

CEO

Lars Jensen

no data

Tenure

kr3,295,000,000

Compensation

Mr. Lars Rosenløv Jensen Serves as a Chief Executive Officer at Quantafuel ASA.

CEO Compensation Analysis

Compensation vs Market: Lars's total compensation ($USD337.39M) is above average for companies of similar size in the Norwegian market ($USD536.37K).

Compensation vs Earnings: Insufficient data to compare Lars's compensation with company performance.

Leadership Team

Experienced Management: QFUEL's management team is not considered experienced ( 1.8 years average tenure), which suggests a new team.

Board Members

Experienced Board: QFUEL's board of directors are not considered experienced ( 2.9 years average tenure), which suggests a new board.

Ownership

Who are the major shareholders and have insiders been buying or selling?

Insider Trading Volume

Insider Buying: QFUEL insiders have bought more shares than they have sold in the past 3 months.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 19.5%.

Data	Last Updated (UTC time)
Company Analysis	2022/06/27 00:00
End of Day Share Price	2022/06/24 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31