Ensurge Micropower (OB:ENSU) - Share price, News & Analysis

ENSU fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	0/6
Past Performance	0/6
Financial Health	2/6
Dividends	0/6

ENSU Stock Overview

Ensurge Micropower ASA designs, develops, and produces ultrathin energy storage solutions for wearable devices, connected sensors, and other applications.

Rewards

Earnings have grown 10.2% per year over the past 5 years

Risk Analysis

Makes less than USD$1m in revenue ($0)

Negative shareholders equity

Volatile share price over the past 3 months

Shareholders have been diluted in the past year

+ 1 more risk

Ensurge Micropower Competitors

Techstep

OB:TECH

kr334.7m

Asetek

OB:ASTK

kr336.0m

NEXT Biometrics Group

OB:NEXT

kr400.1m

Ebang International Holdings

NasdaqGS:EBON

US$73.6m

Price History & Performance

Summary of all time highs, changes and price drops for Ensurge Micropower
Historical stock prices
Current Share Price	kr2.14
52 Week High	kr7.01
52 Week Low	kr1.89
Beta	1.9
1 Month Change	-42.53%
3 Month Change	-28.73%
1 Year Change	-65.22%
3 Year Change	-95.63%
5 Year Change	-99.57%
Change since IPO	-99.88%

Shareholder Returns

	ENSU	NO Tech	NO Market
7D	-32.8%	-5.4%	-5.9%
1Y	-65.2%	-48.3%	-3.3%

Return vs Industry: ENSU underperformed the Norwegian Tech industry which returned -48.3% over the past year.

Return vs Market: ENSU underperformed the Norwegian Market which returned -3.3% over the past year.

Price Volatility

Is ENSU's price volatile compared to industry and market?
ENSU volatility
ENSU Average Weekly Movement	10.0%
Tech Industry Average Movement	5.9%
Market Average Movement	6.7%
10% most volatile stocks in NO Market	11.5%
10% least volatile stocks in NO Market	3.6%

Stable Share Price: ENSU is more volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 10% a week.

Volatility Over Time: ENSU's weekly volatility (10%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.

About the Company

Founded	Employees	CEO	Website
2005	35	Kevin Barber	https://ensurge.com

Ensurge Micropower ASA designs, develops, and produces ultrathin energy storage solutions for wearable devices, connected sensors, and other applications. Its solid-state lithium battery technology enables it to produce rechargeable batteries with high energy densities. The company was formerly known as Thin Film Electronics ASA and changed its name to Ensurge Micropower ASA in June 2021.

Ensurge Micropower Fundamentals Summary

How do Ensurge Micropower's earnings and revenue compare to its market cap?
ENSU fundamental statistics
Market Cap	kr463.37m
Earnings (TTM)	-kr234.75m
Revenue (TTM)	n/a

0.0x

P/S Ratio

-2.0x

P/E Ratio

Is ENSU overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
ENSU income statement (TTM)
Revenue	US$0
Cost of Revenue	US$0
Gross Profit	US$0
Other Expenses	US$22.16m
Earnings	-US$22.16m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Nov 16, 2022

Earnings per share (EPS)	-0.10
Gross Margin	0.00%
Net Profit Margin	0.00%
Debt/Equity Ratio	-64.7%

How did ENSU perform over the long term?

See historical performance and comparison

We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

2/6

Valuation Score 2/6

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

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

The above table shows the n/a ratio for ENSU. This is calculated by dividing ENSU's market cap by their current preferred multiple.
What is ENSU's n/a Ratio?
n/a Ratio	0x
n/a	n/a
Market Cap	US$43.75m

ENSU 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	n/a
Enterprise Value/EBITDA	-2.5x
PEG Ratio	n/a

Price to Book Ratio vs Peers

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

ENSU PB Ratio vs Peers

The above table shows the PB ratio for ENSU vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	PB	Estimated Growth	Market Cap
Peer Average	1.2x
TECH Techstep	0.6x	n/a	kr334.7m
ASTK Asetek	0.7x	n/a	kr336.0m
NEXT NEXT Biometrics Group	3.4x	n/a	kr400.1m
EBON Ebang International Holdings	0.2x	n/a	US$73.6m
ENSU Ensurge Micropower	n/a	n/a	kr463.4m

Price-To-Book vs Peers: ENSU is good value based on its Price-To-Book Ratio (-3.6x) compared to the peer average (1.2x).

Price to Earnings Ratio vs Industry

How does ENSU's PE Ratio compare vs other companies in the European Tech Industry?

Price-To-Book vs Industry: ENSU is good value based on its Price-To-Book Ratio (-3.6x) compared to the European Tech industry average (1.2x)

Price to Book Ratio vs Fair Ratio

What is ENSU'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.

ENSU PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	-3.6x
Fair PB Ratio	n/a

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

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate ENSU's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ENSU's fair value 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?

Analyst Forecast: Insufficient data to show price forecast.

Discover undervalued companies

Take a look at our analysis of ENSU's management and see if the CEO's compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
When valuing a company like this, investors focus more on how they perceive the size of the opportunity, the company's ability to deliver and scale, and the strength of the team. While we are not analysing this type of data at the moment, if you don't know where to start, we recommend reading through Ensurge Micropower regulatory filings.

Future Growth

How is Ensurge Micropower forecast to perform in the next 1 to 3 years based on estimates from 0 analysts?

Future Growth Score

0/6

Future Growth Score 0/6

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

21.3%

Forecasted Tech industry annual growth in earnings

In this section we usually present revenue and earnings growth projections based on the consensus estimates of professional analysts to help investors understand the company’s ability to generate profit. But as Ensurge Micropower has not provided enough past data and has no analyst forecast, its future earnings cannot be reliably calculated by extrapolating past data or using analyst predictions.

This is quite a rare situation as 97% of companies covered by SimplyWall St do have past financial data.

Discover growth companies

Take a look at our analysis of ENSU’s management and see if the CEO’s compensation is within a reasonable range, who is on the board and if insiders have been trading lately.
Ensurge Micropower competitive advantages and company strategy can generally be found in its financial reports archived here.

Past Performance

How has Ensurge Micropower 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

10.2%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ENSU is currently unprofitable.

Growing Profit Margin: ENSU is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: ENSU is unprofitable, but has reduced losses over the past 5 years at a rate of 10.2% per year.

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

Earnings vs Industry: ENSU is unprofitable, making it difficult to compare its past year earnings growth to the Tech industry (0.6%).

Return on Equity

High ROE: ENSU's liabilities exceed its assets, so it is difficult to calculate its Return on Equity.

Discover strong past performing companies

Financial Health

How is Ensurge Micropower's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

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

Financial Position Analysis

Short Term Liabilities: ENSU has negative shareholder equity, which is a more serious situation than short term assets not covering short term liabilities.

Long Term Liabilities: ENSU has negative shareholder equity, which is a more serious situation than short term assets not covering long term liabilities.

Debt to Equity History and Analysis

Debt Level: ENSU has negative shareholder equity, which is a more serious situation than a high debt level.

Reducing Debt: ENSU's has negative shareholder equity, so we do not need to check if its debt has reduced over time.

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: ENSU has sufficient cash runway for 4 months based on last reported free cash flow, but has since raised additional capital.

Forecast Cash Runway: ENSU is forecast to have sufficient cash runway for 3 months based on free cash flow estimates, but has since raised additional capital.

Discover healthy companies

Dividend

What is Ensurge Micropower 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
Cash Flow Coverage

Dividend Yield vs Market

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

High Dividend: Unable to evaluate ENSU'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 ENSU's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ENSU'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 ENSU has not reported any payouts.

Discover strong dividend paying companies

Management

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

1.0yrs

Average management tenure

CEO

Kevin Barber (62 yo)

3.83yrs

Tenure

US$2,367,000

Compensation

Mr. Kevin D. Barber has been an Independent Director of Intevac, Inc. since February 2018. Mr. Barber served as a Senior Vice President of Synaptics Incorporated since January 2011 until November 15, 2018...

CEO Compensation Analysis

Compensation vs Market: Kevin's total compensation ($USD2.37M) is above average for companies of similar size in the Norwegian market ($USD328.84K).

Compensation vs Earnings: Kevin's compensation has increased whilst the company is unprofitable.

Leadership Team

Experienced Management: ENSU's management team is not considered experienced ( 1 years average tenure), which suggests a new team.

Board Members

Experienced Board: ENSU's board of directors are not considered experienced ( 1 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: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.

Ownership Breakdown

Dilution of Shares: Shareholders have been diluted in the past year, with total shares outstanding growing by 11.7%.

Top Shareholders

Top 25 shareholders own 90.48% of the company

Ownership	Name	Shares	Current Value	Change %	Portfolio %
15.45%	UBS Asset Management	33,488,511	$71.6m	0%	no data
14.62%	Spreadex.com Limited, Asset Management Arm	31,679,345	$67.7m	230.25%	43.56%
13.74%	Robert Keith	29,786,189	$63.7m	0%	no data
10.45%	Alden AS	22,650,478	$48.4m	0%	no data
9.72%	Tigerstaden AS	21,065,331	$45.0m	0%	12.69%
4.82%	Middelborg Invest AS	10,453,793	$22.4m	-4.44%	9.39%
3.6%	Nordnet AB (publ), Asset Management Arm	7,812,150	$16.7m	0%	0.3%
2.29%	R Sundvall Invest As	4,962,358	$10.6m	0%	no data
2.14%	Favuseal As	4,629,424	$9.9m	0%	no data
1.8%	Dukat AS	3,901,515	$8.3m	0%	no data
1.45%	DNB Asset Management AS	3,133,147	$6.7m	0%	no data
1.32%	Runar Forsland	2,868,213	$6.1m	0%	no data
1.23%	Jaco Invest AS	2,666,667	$5.7m	0%	no data
1.13%	BNP Paribas, Private & Investment Banking Investments	2,456,352	$5.3m	0%	no data
1.11%	Sundvall Holding AS	2,396,251	$5.1m	0%	no data
0.98%	HÅVI AS	2,130,180	$4.6m	0%	no data
0.88%	Danske Bank A/S, Asset Management Arm	1,910,195	$4.1m	0%	0.01%
0.87%	BNY Mellon Asset Management	1,889,982	$4.0m	0%	no data
0.82%	Union Bancaire Privee Asset Management LLC	1,777,778	$3.8m	0%	0.04%
0.68%	Andreas Holding AS	1,481,279	$3.2m	0%	no data
0.58%	Forte Fondsforvaltning AS	1,250,000	$2.7m	0%	16.99%
0.4%	Morten Opstad	864,633	$1.8m	0%	no data
0.15%	Jon Castor	323,232	$691.1k	0%	no data
0.14%	Kevin Barber	303,030	$647.9k	0%	no data
0.1%	Kelly Doss	225,589	$482.3k	0%	no data

Ticker	Exchange	Primary Security	Security Type	Country	Currency	Listed on
ENSU	OB (Oslo Bors)	Yes	Ordinary Shares	NO	NOK	Feb 2006
0JI9	LSE (London Stock Exchange)	Yes	Ordinary Shares	GB	NOK	Feb 2006
ENMP.F	OTCPK (Pink Sheets LLC)	Yes	Ordinary Shares	US	USD	Feb 2006
ENSUO	BATS-CHIXE (BATS 'Chi-X Europe')	Yes	Ordinary Shares	GB	NOK	Feb 2006
B7X1	DB (Deutsche Boerse AG)	Yes	Ordinary Shares	DE	EUR	Feb 2006
ENMP.Y	OTCPK (Pink Sheets LLC)		SPONSORED ADR	US	USD	Mar 2015

Data	Last Updated (UTC time)
Company Analysis	2022/09/24 00:00
End of Day Share Price	2022/09/23 00:00
Earnings	2022/06/30
Annual Earnings	2021/12/31