REC Silicon ASA, together with its subsidiaries, produces and sells silicon materials for the solar and electronics industries worldwide.
REC Silicon Competitors
Price History & Performance
|Historical stock prices|
|Current Share Price||kr13.56|
|52 Week High||kr3.56|
|52 Week Low||kr24.66|
|1 Month Change||-10.55%|
|3 Month Change||-25.98%|
|1 Year Change||252.21%|
|3 Year Change||93.71%|
|5 Year Change||41.92%|
|Change since IPO||-98.84%|
Recent News & Updates
Here's Why REC Silicon (OB:RECSI) Can Afford Some Debt
The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...
|RECSI||NO Semiconductor||NO Market|
Return vs Industry: RECSI exceeded the Norwegian Semiconductor industry which returned 107.4% over the past year.
Return vs Market: RECSI exceeded the Norwegian Market which returned 20.4% over the past year.
Stable Share Price: RECSI is more volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 9% a week.
Volatility Over Time: RECSI's weekly volatility has decreased from 15% to 9% over the past year, but is still higher than 75% of Norwegian stocks.
About the Company
REC Silicon ASA, together with its subsidiaries, produces and sells silicon materials for the solar and electronics industries worldwide. It offers various solar grade polysilicon for solar applications, including granular polysilicon, siemens rod sections, chunks, chips, and fines. The company also provides electronic grade polysilicon comprising TearDrop, as-grown siemens rods, rod sections, chunks, and chips for use in Czochralski monocrystalline ingot/wafer manufacturing for the semiconductor industry, as well as other electronic market segments, such as optics and microelectromechanical systems; and float zone polysilicon.
REC Silicon Fundamentals Summary
|RECSI fundamental statistics|
Is RECSI overvalued?See Fair Value and valuation analysis
Earnings & Revenue
|RECSI income statement (TTM)|
|Cost of Revenue||US$20.70m|
Last Reported Earnings
Jun 30, 2021
Next Earnings Date
Oct 20, 2021
|Earnings per share (EPS)||-0.031|
|Net Profit Margin||-7.69%|
How did RECSI perform over the long term?See historical performance and comparison
Is REC Silicon undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: RECSI (NOK13.56) is trading below our estimate of fair value (NOK60.17)
Significantly Below Fair Value: RECSI is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: RECSI is unprofitable, so we can't compare its PE Ratio to the European Semiconductor industry average.
PE vs Market: RECSI is unprofitable, so we can't compare its PE Ratio to the Norwegian market.
Price to Earnings Growth Ratio
PEG Ratio: Insufficient data to calculate RECSI's PEG Ratio to determine if it is good value.
Price to Book Ratio
PB vs Industry: RECSI is overvalued based on its PB Ratio (13x) compared to the XE Semiconductor industry average (5x).
How is REC Silicon forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: RECSI is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.2%).
Earnings vs Market: RECSI is forecast to become profitable over the next 3 years, which is considered above average market growth.
High Growth Earnings: RECSI's is expected to become profitable in the next 3 years.
Revenue vs Market: RECSI's revenue (49.2% per year) is forecast to grow faster than the Norwegian market (5.8% per year).
High Growth Revenue: RECSI's revenue (49.2% per year) is forecast to grow faster than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: RECSI's Return on Equity is forecast to be very high in 3 years time (60.8%).
How has REC Silicon performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: RECSI is currently unprofitable.
Growing Profit Margin: RECSI is currently unprofitable.
Past Earnings Growth Analysis
Earnings Trend: RECSI is unprofitable, but has reduced losses over the past 5 years at a rate of 20.2% per year.
Accelerating Growth: Unable to compare RECSI's earnings growth over the past year to its 5-year average as it is currently unprofitable
Earnings vs Industry: RECSI is unprofitable, making it difficult to compare its past year earnings growth to the Semiconductor industry (64.3%).
Return on Equity
High ROE: RECSI has a negative Return on Equity (-22.22%), as it is currently unprofitable.
How is REC Silicon's financial position?
Financial Position Analysis
Short Term Liabilities: RECSI's short term assets ($199.7M) exceed its short term liabilities ($55.3M).
Long Term Liabilities: RECSI's short term assets ($199.7M) do not cover its long term liabilities ($220.2M).
Debt to Equity History and Analysis
Debt Level: RECSI's debt to equity ratio (310.4%) is considered high.
Reducing Debt: RECSI's debt to equity ratio has increased from 19.4% to 310.4% over the past 5 years.
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: RECSI has sufficient cash runway for more than 3 years based on its current free cash flow.
Forecast Cash Runway: Insufficient data to determine if RECSI has enough cash runway if its free cash flow continues to grow or shrink based on historical rates.
What is REC Silicon current dividend yield, its reliability and sustainability?
Dividend Yield vs Market
Notable Dividend: Unable to evaluate RECSI's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.
High Dividend: Unable to evaluate RECSI'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 RECSI's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if RECSI's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of RECSI's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Tore Torvund (69 yo)
Mr. Tore Torvund has been the Chief Executive Officer and President at REC Silicon ASA since December 1, 2013. Mr. Torvund served as an Executive Vice President of REC Silicon at Renewable Energy Corporati...
CEO Compensation Analysis
Compensation vs Market: Tore's total compensation ($USD1.96M) is above average for companies of similar size in the Norwegian market ($USD615.10K).
Compensation vs Earnings: Tore's compensation has increased whilst the company is unprofitable.
Experienced Management: RECSI's management team is seasoned and experienced (5.1 years average tenure).
Experienced Board: RECSI's board of directors are not considered experienced ( 0.5 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 33.1%.
REC Silicon ASA's employee growth, exchange listings and data sources
- Name: REC Silicon ASA
- Ticker: RECSI
- Exchange: OB
- Founded: 1996
- Industry: Semiconductor Equipment
- Sector: Semiconductors
- Market Cap: kr5.050b
- Shares outstanding: 372.41m
- Website: https://www.recsilicon.com
Number of Employees
- REC Silicon ASA
- Lysaker Torg 5, 3. etg
- PO Box 63
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2021/09/18 16:21|
|End of Day Share Price||2021/09/17 00:00|
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.