OX2 (OM:OX2) - Share price, News & Analysis

OX2 fundamental analysis
Snowflake Score
Valuation	2/6
Future Growth	6/6
Past Performance	4/6
Financial Health	6/6
Dividends	0/6

OX2 Stock Overview

OX2 AB (publ) develops and sells wind farms and solar parks.

Rewards

Trading at 67.6% below our estimate of its fair value

Earnings are forecast to grow 42.02% per year

Earnings grew by 58.7% over the past year

Risk Analysis

High level of non-cash earnings

OX2 Competitors

Iberdrola

BME:IBE

€71.8b

Electricité de France

ENXTPA:EDF

€31.6b

Fortum Oyj

HLSE:FORTUM

€15.6b

Price History & Performance

Summary of all time highs, changes and price drops for OX2
Historical stock prices
Current Share Price	kr86.70
52 Week High	kr91.90
52 Week Low	kr41.30
Beta	0
1 Month Change	17.32%
3 Month Change	70.67%
1 Year Change	n/a
3 Year Change	n/a
5 Year Change	n/a
Change since IPO	57.64%

Recent News & Updates

May 05

We Think You Should Be Aware Of Some Concerning Factors In OX2's (STO:OX2) Earnings

The recent earnings posted by OX2 AB (publ) ( STO:OX2 ) were solid, but the stock didn't move as much as we expected...

Apr 30

OX2 AB (publ) Just Missed Revenue By 5.5%: Here's What Analysts Think Will Happen Next

Shareholders might have noticed that OX2 AB (publ) ( STO:OX2 ) filed its quarterly result this time last week. The...

Shareholder Returns

	OX2	SE Construction	SE Market
7D	7.8%	2.4%	3.0%
1Y	n/a	-25.3%	-10.8%

Return vs Industry: Insufficient data to determine how OX2 performed against the Swedish Construction industry.

Return vs Market: Insufficient data to determine how OX2 performed against the Swedish Market.

Price Volatility

Is OX2's price volatile compared to industry and market?
OX2 volatility
OX2 Average Weekly Movement	9.4%
Construction Industry Average Movement	6.6%
Market Average Movement	7.5%
10% most volatile stocks in SE Market	12.6%
10% least volatile stocks in SE Market	4.8%

Stable Share Price: OX2 is not significantly more volatile than the rest of Swedish stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: OX2's weekly volatility (9%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
2004	296	Paul Stormoen	https://www.ox2.com

OX2 AB (publ) develops and sells wind farms and solar parks. It operates in Sweden, Finland, France, Italy, Lithuania, Norway, Poland, Romania, and Spain. The company was formerly known as OX2 Wind AB and changed its name to OX2 AB (publ) in February 2019.

OX2 Fundamentals Summary

How do OX2's earnings and revenue compare to its market cap?
OX2 fundamental statistics
Market Cap	kr23.63b
Earnings (TTM)	kr397.00m
Revenue (TTM)	kr5.60b

59.5x

P/E Ratio

4.2x

P/S Ratio

Is OX2 overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report
OX2 income statement (TTM)
Revenue	kr5.60b
Cost of Revenue	kr4.62b
Gross Profit	kr978.00m
Other Expenses	kr581.00m
Earnings	kr397.00m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Jul 29, 2022

Earnings per share (EPS)	1.46
Gross Margin	17.46%
Net Profit Margin	7.09%
Debt/Equity Ratio	0%

How did OX2 perform over the long term?

See historical performance and comparison

Valuation

Is OX2 undervalued compared to its fair value and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

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

>50%

Undervalued compared to fair value

Share Price vs. Fair Value

Below Fair Value: OX2 (SEK86.7) is trading below our estimate of fair value (SEK267.21)

Significantly Below Fair Value: OX2 is trading below fair value by more than 20%.

Price To Earnings Ratio

PE vs Industry: OX2 is poor value based on its Price-To-Earnings Ratio (59.5x) compared to the Swedish Construction industry average (26.4x).

PE vs Market: OX2 is poor value based on its Price-To-Earnings Ratio (59.5x) compared to the Swedish market (17.8x).

Price to Earnings Growth Ratio

PEG Ratio: OX2 is poor value based on its PEG Ratio (1.4x)

Price to Book Ratio

PB vs Industry: OX2 is overvalued based on its Price-To-Book Ratio (9.6x) compared to the SE Construction industry average (2.3x).

Future Growth

How is OX2 forecast to perform in the next 1 to 3 years based on estimates from 2 analysts?

Future Growth Score

6/6

Future Growth Score 6/6

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

42.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts

Analyst Future Growth Forecasts

Earnings vs Savings Rate: OX2's forecast earnings growth (42% per year) is above the savings rate (0.3%).

Earnings vs Market: OX2's earnings (42% per year) are forecast to grow faster than the Swedish market (9.7% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: OX2's revenue (36.8% per year) is forecast to grow faster than the Swedish market (5.9% per year).

High Growth Revenue: OX2's revenue (36.8% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: OX2's Return on Equity is forecast to be high in 3 years time (23%)

Past Performance

How has OX2 performed over the past 5 years?

Past Performance Score

4/6

Past Performance Score 4/6

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

1.4%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: OX2 has a high level of non-cash earnings.

Growing Profit Margin: OX2's current net profit margins (7.1%) are higher than last year (4.4%).

Past Earnings Growth Analysis

Earnings Trend: OX2's earnings have grown by 1.4% per year over the past 5 years.

Accelerating Growth: OX2's earnings growth over the past year (58.7%) exceeds its 5-year average (1.4% per year).

Earnings vs Industry: OX2 earnings growth over the past year (58.7%) exceeded the Construction industry 9.3%.

Return on Equity

High ROE: OX2's Return on Equity (16.1%) is considered low.

Financial Health

How is OX2's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

Short Term Liabilities
Long Term Liabilities
Debt Level
Reducing Debt
Debt Coverage
Interest Coverage

Financial Position Analysis

Short Term Liabilities: OX2's short term assets (SEK4.3B) exceed its short term liabilities (SEK1.7B).

Long Term Liabilities: OX2's short term assets (SEK4.3B) exceed its long term liabilities (SEK96.0M).

Debt to Equity History and Analysis

Debt Level: OX2 is debt free.

Reducing Debt: OX2 had no debt 5 years ago.

Debt Coverage: OX2 has no debt, therefore it does not need to be covered by operating cash flow.

Interest Coverage: OX2 has no debt, therefore coverage of interest payments is not a concern.

Balance Sheet

Dividend

What is OX2 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 OX2's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate OX2'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 OX2's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if OX2'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 OX2 has not reported any payouts.

Discover strong dividend paying companies

Management

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

2.8yrs

Average management tenure

CEO

Paul Stormoen (40 yo)

11.33yrs

Tenure

Mr. Paul Stormoen serves as the Chief Executive Officer of OX2 AB (publ). Mr. Stormoen is Chief Executive Officer of Wind and Managing Director of Wind Power Development at Peas Industries AB (formerly kno...

Leadership Team

Experienced Management: OX2's management team is considered experienced (2.8 years average tenure).

Board Members

Experienced Board: OX2's board of directors are not considered experienced ( 2.8 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.

Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: OX2 only recently listed within the past 12 months.

Data	Last Updated (UTC time)
Company Analysis	2022/05/28 00:00
End of Day Share Price	2022/05/27 00:00
Earnings	2022/03/31
Annual Earnings	2021/12/31