Norsk Solar (OB:NSOL) - Share price, News & Analysis

NSOL fundamental analysis
Snowflake Score
Valuation	0/6
Future Growth	2/6
Past Performance	0/6
Financial Health	4/6
Dividends	0/6

NSOL Stock Overview

Norsk Solar AS, an independent power producer, develops, finances, builds, owns, and operates solar photovoltaic power plants in Norway.

Rewards

Revenue is forecast to grow 75.8% per year

Revenue grew by 48.3% over the past year

Risk Analysis

Has less than 1 year of cash runway

Highly volatile share price over the past 3 months

Currently unprofitable and not forecast to become profitable over the next 3 years

Does not have meaningful revenue (NOK14M)

+ 1 more risk

Norsk Solar Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Norsk Solar
Historical stock prices
Current Share Price	kr4.82
52 Week High	kr10.00
52 Week Low	kr3.65
Beta	0
1 Month Change	-18.03%
3 Month Change	-7.31%
1 Year Change	-50.56%
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	-51.80%

Shareholder Returns

	NSOL	NO Renewable Energy	NO Market
7D	11.1%	4.7%	2.1%
1Y	-50.6%	-48.9%	12.3%

Return vs Industry: NSOL underperformed the Norwegian Renewable Energy industry which returned -48.9% over the past year.

Return vs Market: NSOL underperformed the Norwegian Market which returned 12.3% over the past year.

Price Volatility

Is NSOL's price volatile compared to industry and market?
NSOL volatility
NSOL Average Weekly Movement	15.5%
Renewable Energy Industry Average Movement	9.6%
Market Average Movement	7.4%
10% most volatile stocks in NO Market	12.9%
10% least volatile stocks in NO Market	4.2%

Stable Share Price: NSOL is more volatile than 90% of Norwegian stocks over the past 3 months, typically moving +/- 15% a week.

Volatility Over Time: NSOL's weekly volatility has increased from 10% to 15% over the past year.

About the Company

Founded	Employees	CEO	Website
2017	25	Oyvind Vesterdal	https://norsksolar.com

Norsk Solar AS, an independent power producer, develops, finances, builds, owns, and operates solar photovoltaic power plants in Norway. The company has proportionate ownership of 17 MW in 70 MW of solar power plants. It delivers energy to companies and state utilities under long term contracts.

Norsk Solar Fundamentals Summary

How do Norsk Solar's earnings and revenue compare to its market cap?
NSOL fundamental statistics
Market Cap	kr360.39m
Earnings (TTM)	-kr34.70m
Revenue (TTM)	kr13.51m

26.7x

P/S Ratio

-10.4x

P/E Ratio

Is NSOL overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
NSOL income statement (TTM)
Revenue	kr13.51m
Cost of Revenue	kr8.30m
Gross Profit	kr5.22m
Other Expenses	kr39.92m
Earnings	-kr34.70m

Last Reported Earnings

Dec 31, 2021

Next Earnings Date

Jun 15, 2022

Earnings per share (EPS)	-0.46
Gross Margin	38.61%
Net Profit Margin	-256.75%
Debt/Equity Ratio	22.1%

How did NSOL perform over the long term?

See historical performance and comparison

Valuation

Is Norsk Solar undervalued compared to its fair value and its price relative to the market?

Valuation Score

0/6

Valuation Score 0/6

Below Fair Value
Significantly Below Fair Value
PE vs Industry
PE vs Market
PEG Ratio
PB vs Industry

2.25x

Price to Book (PB) ratio

Share Price vs. Fair Value

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

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

Price To Earnings Ratio

PE vs Industry: NSOL is unprofitable, so we can't compare its PE Ratio to the European Renewable Energy industry average.

PE vs Market: NSOL 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 NSOL's PEG Ratio to determine if it is good value.

Price to Book Ratio

PB vs Industry: NSOL is overvalued based on its PB Ratio (2.2x) compared to the NO Renewable Energy industry average (1.6x).

Future Growth

How is Norsk Solar forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

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

10.1%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: NSOL is forecast to remain unprofitable over the next 3 years.

Earnings vs Market: NSOL is forecast to remain unprofitable over the next 3 years.

High Growth Earnings: NSOL is forecast to remain unprofitable over the next 3 years.

Revenue vs Market: NSOL's revenue (75.8% per year) is forecast to grow faster than the Norwegian market (1.1% per year).

High Growth Revenue: NSOL's revenue (75.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: NSOL is forecast to be unprofitable in 3 years.

Past Performance

How has Norsk Solar 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

-70.2%

Last years earnings growth

Earnings and Revenue History

Quality Earnings: NSOL is currently unprofitable.

Growing Profit Margin: NSOL is currently unprofitable.

Past Earnings Growth Analysis

Earnings Trend: Insufficient data to determine if NSOL's year-on-year earnings growth rate was positive over the past 5 years.

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

Earnings vs Industry: NSOL is unprofitable, making it difficult to compare its past year earnings growth to the Renewable Energy industry (36.9%).

Return on Equity

High ROE: NSOL has a negative Return on Equity (-18.54%), as it is currently unprofitable.

Financial Health

How is Norsk Solar'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: NSOL's short term assets (NOK105.8M) exceed its short term liabilities (NOK18.8M).

Long Term Liabilities: NSOL's short term assets (NOK105.8M) exceed its long term liabilities (NOK11.4M).

Debt to Equity History and Analysis

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

Reducing Debt: Insufficient data to determine if NSOL'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: NSOL has sufficient cash runway for more than a year based on its current free cash flow.

Forecast Cash Runway: NSOL has less than a year of cash runway if free cash flow continues to reduce at historical rates of 25.6% each year

Dividend

What is Norsk Solar 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 NSOL's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

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

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

Discover strong dividend paying companies

Management

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

1.2yrs

Average board tenure

CEO

Oyvind Vesterdal

no data

Tenure

Mr. Oyvind Laugen Vesterdal serves as the Chief Executive Officer and General Manager of Norsk Solar AS. Mr. Vesterdal is one of the co-founders of Norsk Solar. His background includes extensive experience...

Board Members

Experienced Board: NSOL's board of directors are not considered experienced ( 1.2 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 not been meaningfully diluted in the past year.

Data	Last Updated (UTC time)
Company Analysis	2022/05/21 00:00
End of Day Share Price	2022/05/20 00:00
Earnings	2021/12/31
Annual Earnings	2021/12/31