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Nel

OB:NEL
Snowflake Description

High growth potential with adequate balance sheet.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
NEL
OB
NOK10B
Market Cap
  1. Home
  2. NO
  3. Capital Goods
Company description

Nel ASA, a hydrogen company, delivers various solutions to produce, store, and distribute hydrogen from renewable energy worldwide. The last earnings update was 4 days ago. More info.


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  • Nel has significant price volatility in the past 3 months.
NEL Share Price and Events
7 Day Returns
-2.8%
OB:NEL
3.3%
Europe Electrical
1.1%
NO Market
1 Year Returns
85.9%
OB:NEL
21.8%
Europe Electrical
-4%
NO Market
NEL Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Nel (NEL) -2.8% 5.8% 19.3% 85.9% 291.4% 539.1%
Europe Electrical 3.3% 10.2% 16.7% 21.8% 18.3% -26.1%
NO Market 1.1% 2.6% 8.6% -4% 26.2% 22%
1 Year Return vs Industry and Market
  • NEL outperformed the Electrical industry which returned 21.8% over the past year.
  • NEL outperformed the Market in Norway which returned -4% over the past year.
Price Volatility
NEL
Industry
5yr Volatility vs Market
Related Companies

NEL Value

 Is Nel undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Nel to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Nel.

OB:NEL Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 2 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 8.5%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OB:NEL
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Electrical Unlevered Beta Simply Wall St/ S&P Global 1.2
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 1.196 (1 + (1- 23%) (0.31%))
1.133
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
1.13
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (1.133 * 5.96%)
8.51%

Discounted Cash Flow Calculation for OB:NEL using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Nel is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

OB:NEL DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 8.51%)
2020 -105.00 Analyst x1 -96.76
2021 8.00 Analyst x1 6.79
2022 13.56 Est @ 69.45% 10.61
2023 20.22 Est @ 49.14% 14.58
2024 27.28 Est @ 34.93% 18.13
2025 34.09 Est @ 24.98% 20.88
2026 40.23 Est @ 18.01% 22.71
2027 45.52 Est @ 13.14% 23.67
2028 49.94 Est @ 9.72% 23.94
2029 53.60 Est @ 7.33% 23.68
Present value of next 10 years cash flows NOK68.00
OB:NEL DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK53.60 × (1 + 1.76%) ÷ (8.51% – 1.76%)
NOK807.57
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK807.57 ÷ (1 + 8.51%)10
NOK356.70
OB:NEL Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK68.00 + NOK356.70
NOK424.70
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK424.70 / 1,221.77
NOK0.35
OB:NEL Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK0.35
Current discount Discount to share price of NOK8.18
= -1 x (NOK8.18 - NOK0.35) / NOK0.35
-2253.2%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

  • The current share price of Nel is above its future cash flow value.
Often investors are willing to pay a premium for a company that has a high dividend or the potential for future growth.
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Nel's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Nel's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:NEL PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-09-30) in NOK NOK-0.20
OB:NEL Share Price ** OB (2019-11-11) in NOK NOK8.18
Europe Electrical Industry PE Ratio Median Figure of 64 Publicly-Listed Electrical Companies 20.05x
Norway Market PE Ratio Median Figure of 142 Publicly-Listed Companies 13.28x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Nel.

OB:NEL PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:NEL Share Price ÷ EPS (both in NOK)

= 8.18 ÷ -0.20

-41.71x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nel is loss making, we can't compare its value to the Europe Electrical industry average.
  • Nel is loss making, we can't compare the value of its earnings to the Norway market.
Price based on expected Growth
Does Nel's expected growth come at a high price?
Raw Data
OB:NEL PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section -41.71x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts
101.9%per year
Europe Electrical Industry PEG Ratio Median Figure of 35 Publicly-Listed Electrical Companies 1.43x
Norway Market PEG Ratio Median Figure of 106 Publicly-Listed Companies 0.8x

*Line of best fit is calculated by linear regression .

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to calculate PEG ratio for Nel, we can't assess if its growth is good value.
Price based on value of assets
What value do investors place on Nel's assets?
Raw Data
OB:NEL PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-09-30) in NOK NOK1.60
OB:NEL Share Price * OB (2019-11-11) in NOK NOK8.18
Europe Electrical Industry PB Ratio Median Figure of 125 Publicly-Listed Electrical Companies 1.98x
Norway Market PB Ratio Median Figure of 233 Publicly-Listed Companies 1.09x
OB:NEL PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:NEL Share Price ÷ Book Value per Share (both in NOK)

= 8.18 ÷ 1.60

5.11x

* Primary Listing of Nel.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Nel is overvalued based on assets compared to the Europe Electrical industry average.
X
Value checks
We assess Nel's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Electrical industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Electrical industry average (and greater than 0)? (1 check)
  5. Nel has a total score of 0/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

NEL Future Performance

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

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
101.9%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Nel expected to grow at an attractive rate?
  • Nel's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Nel's earnings growth is expected to exceed the Norway market average.
  • Nel's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:NEL Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:NEL Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 2 Analysts 101.9%
OB:NEL Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 2 Analysts 49.9%
Europe Electrical Industry Earnings Growth Rate Market Cap Weighted Average 21%
Europe Electrical Industry Revenue Growth Rate Market Cap Weighted Average 4.7%
Norway Market Earnings Growth Rate Market Cap Weighted Average 20.2%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4.2%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OB:NEL Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:NEL Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 2,772 76 1
2021-12-31 1,131 97 23 2
2020-12-31 852 -19 -79 2
2019-12-31 554 -152 1
2019-11-11
OB:NEL Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-09-30 483 -188 -231
2019-06-30 445 -195 -264
2019-03-31 457 -138 -210
2018-12-31 453 -143 -189
2018-09-30 460 -107 -112
2018-06-30 442 -197 -79
2018-03-31 352 -137 -67
2017-12-31 275 -113 -52
2017-09-30 220 -80 -94
2017-06-30 135 35 -73
2017-03-31 109 -27 -62
2016-12-31 98 -34 -56

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Nel's earnings are expected to grow significantly at over 20% yearly.
  • Nel's revenue is expected to grow significantly at over 20% yearly.
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:NEL Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (1 month ago) See Below
Future Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below

All data from Nel Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:NEL Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.32 0.32 0.32 1.00
2021-12-31 0.01 0.02 -0.01 2.00
2020-12-31 -0.05 -0.03 -0.07 2.00
2019-12-31 -0.18 -0.18 -0.18 1.00
2019-11-11
OB:NEL Past Financials Data
Date (Data in NOK Millions) EPS *
2019-09-30 -0.20
2019-06-30 -0.23
2019-03-31 -0.19
2018-12-31 -0.18
2018-09-30 -0.11
2018-06-30 -0.08
2018-03-31 -0.07
2017-12-31 -0.06
2017-09-30 -0.12
2017-06-30 -0.11
2017-03-31 -0.09
2016-12-31 -0.08

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Unable to establish if Nel will efficiently use shareholders’ funds in the future (Return on Equity greater than 20%) as it is not expected to be profitable.
X
Future performance checks
We assess Nel's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Europe market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Europe market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Nel has a total score of 5/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

NEL Past Performance

  How has Nel performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Nel's growth in the last year to its industry (Electrical).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Nel does not make a profit and their year on year earnings growth rate was negative over the past 5 years.
  • Unable to compare Nel's 1-year earnings growth to the 5-year average as it is not currently profitable.
  • Unable to compare Nel's 1-year growth to the Europe Electrical industry average as it is not currently profitable.
Earnings and Revenue History
Nel's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Nel Company Filings, last reported 1 month ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:NEL Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-09-30 482.87 -230.92 217.19
2019-06-30 445.20 -264.05 197.51
2019-03-31 457.48 -210.03 182.28
2018-12-31 453.19 -188.83 171.28
2018-09-30 460.04 -111.71 167.69
2018-06-30 442.42 -78.80 170.08
2018-03-31 351.90 -66.94 147.58
2017-12-31 275.01 -52.45 123.28
2017-09-30 219.97 -93.67 105.68
2017-06-30 135.48 -73.11 72.28
2017-03-31 109.27 -61.73 63.57
2016-12-31 98.45 -55.83 59.35
2016-09-30 84.72 -50.07 48.24
2016-06-30 88.56 -38.76 45.32
2016-03-31 110.36 -30.84 37.87
2015-12-31 88.54 -21.73 28.37
2015-09-30 72.39 -2.69 21.97
2015-06-30 45.64 -3.22 13.83
2015-03-31 12.07 -2.77 10.22
2014-12-31 12.07 -6.51 6.32
2014-09-30 0.02 -19.53 3.79
2014-06-30 0.06 -27.56 9.06
2014-03-31 0.09 -31.31 13.56
2013-12-31 0.16 -36.63 18.01
2013-09-30 0.18 -40.79 18.29
2013-06-30 0.16 -40.12 19.24
2013-03-31 0.17 -41.62 21.98
2012-12-31 0.13 -40.90 22.20

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • It is difficult to establish if Nel has efficiently used shareholders’ funds last year (Return on Equity greater than 20%) as it is loss-making.
  • It is difficult to establish if Nel has efficiently used its assets last year compared to the Europe Electrical industry average (Return on Assets) as it is loss-making.
  • It is difficult to establish if Nel improved its use of capital last year versus 3 years ago (Return on Capital Employed) as it is currently loss-making.
X
Past performance checks
We assess Nel's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Electrical industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Nel has a total score of 0/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

NEL Health

 How is Nel's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Nel's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Nel is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Nel's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Nel's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • Low level of unsold assets.
  • Debt is covered by short term assets, assets are 35.9x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Nel Company Filings, last reported 1 month ago.

OB:NEL Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-09-30 1,951.27 30.54 650.96
2019-06-30 1,931.67 30.36 697.65
2019-03-31 1,958.83 30.68 743.22
2018-12-31 1,578.98 42.60 349.75
2018-09-30 1,582.14 52.52 434.12
2018-06-30 1,600.37 60.75 478.72
2018-03-31 1,344.33 59.28 250.76
2017-12-31 1,409.39 22.75 295.00
2017-09-30 1,106.96 25.36 85.59
2017-06-30 1,200.48 26.15 201.18
2017-03-31 831.24 8.94 368.35
2016-12-31 671.22 11.49 225.47
2016-09-30 679.80 15.38 225.15
2016-06-30 704.33 16.10 267.37
2016-03-31 714.60 14.57 290.50
2015-12-31 731.01 14.19 314.55
2015-09-30 621.14 18.96 226.93
2015-06-30 527.37 17.17 154.30
2015-03-31 270.08 7.32 164.48
2014-12-31 195.94 7.58 98.50
2014-09-30 51.15 0.00 50.47
2014-06-30 51.64 0.00 51.52
2014-03-31 4.19 0.00 5.19
2013-12-31 8.68 0.00 11.49
2013-09-30 17.10 0.42 18.12
2013-06-30 26.29 0.00 27.79
2013-03-31 5.20 0.00 9.51
2012-12-31 16.45 1.67 18.45
  • Nel's level of debt (1.6%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has increased over the past 5 years (0.2% vs 1.6% today).
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.

  • Nel has sufficient cash runway for 2.3 years based on current free cash flow.
  • Unable to confirm if Nel has at least 1 year of cash runway based on growing free cash flows without relevant data.
X
Financial health checks
We assess Nel's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Nel has a total score of 4/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

NEL Dividends

 What is Nel's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
0%
Current annual income from Nel dividends. Estimated to be 0% next year.
If you bought NOK2,000 of Nel shares you are expected to receive NOK0 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Unable to evaluate Nel's dividend yield against the bottom 25% of dividend payers as the company has not reported any payouts.
  • Unable to evaluate Nel's dividend against the top 25% market benchmark as the company has not reported any payouts.
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:NEL Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 2 Analyst Estimates (S&P Global) See Below
Europe Electrical Industry Average Dividend Yield Market Cap Weighted Average of 48 Stocks 2.6%
Norway Market Average Dividend Yield Market Cap Weighted Average of 112 Stocks 4.4%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.6%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.1%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OB:NEL Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31
2021-12-31 0.00 1.00
2020-12-31 0.00 1.00
2019-12-31 0.00 1.00
2019-11-11

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Unable to perform a dividend volatility check as Nel has not reported any payouts.
  • Unable to verify if Nel's dividend has been increasing as the company has not reported any payouts.
Current Payout to shareholders
What portion of Nel's earnings are paid to the shareholders as a dividend.
  • Unable to calculate sustainability of dividends as Nel has not reported any payouts.
Future Payout to shareholders
  • No need to calculate the sustainability of Nel's dividends in 3 years as they are not expected to pay a notable one for Norway.
X
Income/ dividend checks
We assess Nel's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.6%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Nel afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Nel has a total score of 0/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

NEL Management

 What is the CEO of Nel's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Jon Løkke
COMPENSATION NOK4,761,000
AGE 48
TENURE AS CEO 3.8 years
CEO Bio

Mr. Jon Andre Løkke has been the Chief Executive Officer at NEL ASA since January 4, 2016. Mr. Løkke serves as an Executive Officer of Norsk Titanium AS. Mr. Løkke served as the Chief Executive Officer of Norsk Titanium AS since July 2015. He served as the Senior Vice President at REC Wafer Norway AS. He has ten years’ experience from the REC Group, including positions as Chief Financial Officer in REC ASA. He served as Senior Vice President and Investor Relation Officer at REC Silicon ASA until January 1,2010. He also worked for the ABB Group. He serves as a Member of Advisory Board at Forum Securities AS. He holds a Bsc in Business and Economics and Economics from University of Southampton as well as an International MBA from the University of Glasgow.

CEO Compensation
  • Jon's compensation has increased whilst company is loss making.
  • Jon's remuneration is about average for companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the Nel management team in years:

1.3
Average Tenure
50
Average Age
  • The average tenure for the Nel management team is less than 2 years, this suggests a new team.
Management Team

Jon Løkke

TITLE
Chief Executive Officer
COMPENSATION
NOK5M
AGE
48
TENURE
3.8 yrs

Bent Skisaker

TITLE
Chief Financial Officer
COMPENSATION
NOK3M
AGE
50
TENURE
3.2 yrs

Anders Søreng

TITLE
Chief Technology Officer
COMPENSATION
NOK4M
TENURE
3.5 yrs

Bjørn Simonsen

TITLE
Vice President of Investor Relations & Corporate Communication
COMPENSATION
NOK2M

Jørn Rosenlund

TITLE
Senior Vice President of NEL Hydrogen Fueling
COMPENSATION
NOK3M

David Bow

TITLE
Senior Vice President of Business Development
COMPENSATION
NOK3M
AGE
55
TENURE
0.4 yrs

Raluca Leordeanu

TITLE
Head of Business Development
COMPENSATION
NOK1M
TENURE
1.3 yrs

Stein Erdal

TITLE
VP of Legal & General Counsel
TENURE
0.8 yrs

Hans Hide

TITLE
Senior Vice President of Projects
TENURE
0.7 yrs
Board of Directors Tenure

Average tenure of the Nel board of directors in years:

13.3
Average Tenure
  • The average tenure for the Nel board of directors is over 10 years, this suggests they are a seasoned and experienced board.
Board of Directors

Ole Enger

TITLE
Independent Chairman
AGE
71
TENURE
0.5 yrs

Hanne Kristin Holen

TITLE
Independent Director
COMPENSATION
NOK450K
AGE
55
TENURE
2.8 yrs

Khalid Iqbal

TITLE
Member of Scientific Advisory Board - Alzheimer’s disease
TENURE
13.3 yrs

Dag Aarsland

TITLE
Member of Scientific Advisory Board - Alzheimer's Disease
TENURE
13.3 yrs

Bengt Winblad

TITLE
Member of Scientific Advisory Board - Alzheimer's disease
TENURE
13.3 yrs

Christos Sotiriou

TITLE
Member of Scientific Advisory Board - Breast Cancer

Martine Piccart

TITLE
Member of Scientific Advisory Board - Breast Cancer

Alan Hollingsworth

TITLE
Member of Scientific Advisory Board - Breast Cancer

Samuel Gandy

TITLE
Member of Scientific Advisory Board - Alzheimer’s disease

Anne-Lise Børresen-Dale

TITLE
Member of Scientific Advisory Board - Breast Cancer
Who owns this company?
Recent Insider Trading
  • Nel individual insiders have only sold shares in the past 3 months.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
04. Sep 19 Sell Jørn Rosenlund Individual 04. Sep 19 04. Sep 19 -271,855 NOK7.22 NOK-1,956,321
04. Sep 19 Sell David Bow Individual 04. Sep 19 04. Sep 19 -380,000 NOK7.22 NOK-2,745,083
04. Jun 19 Sell F9 Investments, LLC Company 03. Jun 19 03. Jun 19 -70,000,000 NOK7.47 NOK-522,900,047
04. Jun 19 Sell H2 Holding ApS Company 03. Jun 19 03. Jun 19 -43,000,000 NOK7.47 NOK-321,210,029
10. Apr 19 Buy Hanne Kristin Holen Individual 10. Apr 19 10. Apr 19 4,000 NOK0.20 NOK800
10. Apr 19 Buy Ole Enger Individual 10. Apr 19 10. Apr 19 4,507 NOK0.20 NOK901
X
Management checks
We assess Nel's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Nel has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

NEL News

Simply Wall St News

Does Nel (OB:NEL) Have A Healthy Balance Sheet?

OB:NEL Historical Debt, August 30th 2019 How Strong Is Nel's Balance Sheet? … This short term liquidity is a sign that Nel could probably pay off its debt with ease, as its balance sheet is far from stretched. … Overall, its balance sheet doesn't seem overly risky, at the moment, but we're always cautious until we see the positive free cash flow.

Simply Wall St -

What Kind Of Shareholder Appears On The Nel ASA's (OB:NEL) Shareholder Register?

We can see that Nel does have institutional investors; and they hold 25% of the stock. … General Public Ownership The general public, mostly retail investors, hold a substantial 67% stake in NEL, suggesting it is a fairly popular stock. … Private Company Ownership It seems that Private Companies own 6.7%, of the NEL stock.

Simply Wall St -

Is Nel ASA (OB:NEL) Excessively Paying Its CEO?

First, this article will compare CEO compensation with compensation at similar sized companies. … Check out our latest analysis for Nel How Does Jon Løkke's Compensation Compare With Similar Sized Companies? … We think total compensation is more important but we note that the CEO salary is lower, at øre2.6m.

Simply Wall St -

When Will Nel ASA (OB:NEL) Become Profitable?

I’ve put together a brief outline of industry analyst expectations for NEL, its year of breakeven and its implied growth rate. … OB:NEL Past and Future Earnings, May 23rd 2019 Given this is a high-level overview, I won’t go into details of NEL’s upcoming projects, but, take into account that by and large a high growth rate is not out of the ordinary, particularly when a company is in a period of investment. … Next Steps: There are too many aspects of NEL to cover in one brief article, but the key fundamentals for the company can all be found in one place – NEL’s company page on Simply Wall St.

Simply Wall St -

Read This Before Buying Nel ASA (OB:NEL) Shares

So before you buy or sell Nel ASA (OB:NEL), you may well want to know whether insiders have been buying or selling. … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.'. … As a general rule we consider it to be discouraging when insiders are selling below the current price, because it suggests they were happy with a lower valuation

Simply Wall St -

Could Nel ASA's (OB:NEL) Investor Composition Influence The Stock Price?

A look at the shareholders of Nel ASA (OB:NEL) can tell us which group is most powerful. … Taking a look at our data on the ownership groups (below), it's seems that. … Let's take a closer look to see what the different types of shareholder can tell us about NEL

Simply Wall St -

If You Had Bought Nel Shares Five Years Ago You'd Have Made 277%

Shareholders of unprofitable companies usually expect strong revenue growth. … Some companies are willing to postpone profitability to grow revenue faster, but in that case one does expect good top-line growth. … For the last half decade, Nel can boast revenue growth at a rate of 64% per year.

Simply Wall St -

Is Nel ASA's (OB:NEL) CEO Pay Fair?

First, this article will compare CEO compensation with compensation at similar sized companies. … And finally - as a second measure of performance - we will look at the returns shareholders have received over the last few years. … How Does Jon Løkke's Compensation Compare With Similar Sized Companies?

Simply Wall St -

Have Insiders Been Selling Nel ASA (OB:NEL) Shares?

Over the last year, we can see that the biggest insider sale was by Senior Vice President of Sales & Marketing David Bow for øre2.1m worth of shares, at about øre3.18 per share. … That means that even when the share price was below the current price of øre5.16, an insider wanted to cash in some shares. … When an insider sells below the current price, it does tend to make us wonder about the current valuation

Simply Wall St -

How Many Nel ASA (OB:NEL) Shares Do Institutions Own?

Insiders often own a large chunk of younger, smaller, companies while huge companies tend to have institutions as shareholders. … We also tend to see lower insider ownership in companies that were previously publicly owned. … With a market capitalization of øre5.1b, Nel is a small cap stock, so it might not be well known by many institutional investors.

Simply Wall St -

NEL Company Info

Description

Nel ASA, a hydrogen company, delivers various solutions to produce, store, and distribute hydrogen from renewable energy worldwide. It operates through three segments: Nel Hydrogen Fueling, Nel Hydrogen Solutions, and Nel Hydrogen Electrolyser. The company produces H2Station hydrogen fueling stations that provide fuel cell electric vehicles with the fast fueling and long range as conventional vehicles, including cars, buses, trucks, forklifts, and other applications. It also provides hydrogen plants based on water electrolysis technology for use in various industries. The company was formerly known as DiaGenic ASA and changed its name to Nel ASA in October 2014. Nel ASA was founded in 1927 and is headquartered in Oslo, Norway.

Details
Name: Nel ASA
NEL
Exchange: OB
Founded: 1927
NOK9,994,047,679
1,221,766,220
Website: http://nelhydrogen.com
Address: Nel ASA
Karenlyst allé 20,
Oslo,
Oslo, 0278,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB NEL Registered Shares Oslo Bors NO NOK 27. Aug 2004
DB D7G Registered Shares Deutsche Boerse AG DE EUR 27. Aug 2004
LSE 0E4Q Registered Shares London Stock Exchange GB NOK 27. Aug 2004
BATS-CHIXE NELO Registered Shares BATS 'Chi-X Europe' GB NOK 27. Aug 2004
OTCPK NLLS.Y UNSPONSRED ADS Pink Sheets LLC US USD 15. Nov 2018
Number of employees
Current staff
Staff numbers
274
Nel employees.
Industry
Heavy Electrical Equipment
Capital Goods
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/11/11 20:32
End of day share price update: 2019/11/11 00:00
Last estimates confirmation: 2019/11/08
Last earnings filing: 2019/11/07
Last earnings reported: 2019/09/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

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.