ELKEM ASA (ELK.OL) Stock Fundamental Analysis

Europe • Euronext Oslo • OSL:ELK • NO0010816093

28.26 NOK
-0.38 (-1.33%)
Last: Feb 2, 2026, 07:00 PM
Fundamental Rating

4

ELK gets a fundamental rating of 4 out of 10. The analysis compared the fundamentals against 68 industry peers in the Chemicals industry. ELK has an average financial health and profitability rating. ELK is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • ELK had negative earnings in the past year.
  • In the past year ELK had a positive cash flow from operations.
  • In the past 5 years ELK has always been profitable.
  • ELK had a positive operating cash flow in each of the past 5 years.
ELK.OL Yearly Net Income VS EBIT VS OCF VS FCFELK.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B 8B 10B

1.2 Ratios

  • ELK has a worse Return On Assets (-1.07%) than 67.65% of its industry peers.
  • ELK's Return On Equity of -2.13% is on the low side compared to the rest of the industry. ELK is outperformed by 69.12% of its industry peers.
  • With a Return On Invested Capital value of 2.29%, ELK perfoms like the industry average, outperforming 45.59% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ELK is above the industry average of 6.72%.
  • The 3 year average ROIC (8.73%) for ELK is well above the current ROIC(2.29%). The reason for the recent decline needs to be investigated.
Industry RankSector Rank
ROA -1.07%
ROE -2.13%
ROIC 2.29%
ROA(3y)6.39%
ROA(5y)6.2%
ROE(3y)11.85%
ROE(5y)12.17%
ROIC(3y)8.73%
ROIC(5y)8.61%
ELK.OL Yearly ROA, ROE, ROICELK.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • ELK's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 8.13%, ELK is in the better half of the industry, outperforming 61.76% of the companies in the same industry.
  • ELK's Operating Margin has improved in the last couple of years.
  • ELK's Gross Margin of 53.81% is fine compared to the rest of the industry. ELK outperforms 79.41% of its industry peers.
  • ELK's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 8.13%
PM (TTM) N/A
GM 53.81%
OM growth 3Y-7.33%
OM growth 5Y22.64%
PM growth 3Y-41.92%
PM growth 5Y-6.54%
GM growth 3Y0.8%
GM growth 5Y2.02%
ELK.OL Yearly Profit, Operating, Gross MarginsELK.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

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4

2. Health

2.1 Basic Checks

  • ELK has a Return on Invested Capital (ROIC), which is just above the Cost of Capital (WACC), which means it is creating some value.
  • ELK has about the same amout of shares outstanding than it did 1 year ago.
  • Compared to 5 years ago, ELK has more shares outstanding
  • Compared to 1 year ago, ELK has an improved debt to assets ratio.
ELK.OL Yearly Shares OutstandingELK.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 200M 400M 600M
ELK.OL Yearly Total Debt VS Total AssetsELK.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 10B 20B 30B 40B 50B

2.2 Solvency

  • ELK has an Altman-Z score of 1.73. This is a bad value and indicates that ELK is not financially healthy and even has some risk of bankruptcy.
  • ELK has a Altman-Z score of 1.73. This is in the lower half of the industry: ELK underperforms 70.59% of its industry peers.
  • ELK has a Debt/Equity ratio of 0.47. This is a healthy value indicating a solid balance between debt and equity.
  • ELK has a Debt to Equity ratio of 0.47. This is comparable to the rest of the industry: ELK outperforms 47.06% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF N/A
Altman-Z 1.73
ROIC/WACC0.3
WACC7.57%
ELK.OL Yearly LT Debt VS Equity VS FCFELK.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10B 20B

2.3 Liquidity

  • ELK has a Current Ratio of 3.27. This indicates that ELK is financially healthy and has no problem in meeting its short term obligations.
  • The Current ratio of ELK (3.27) is better than 88.24% of its industry peers.
  • ELK has a Quick Ratio of 1.67. This is a normal value and indicates that ELK is financially healthy and should not expect problems in meeting its short term obligations.
  • ELK has a better Quick ratio (1.67) than 77.94% of its industry peers.
Industry RankSector Rank
Current Ratio 3.27
Quick Ratio 1.67
ELK.OL Yearly Current Assets VS Current LiabilitesELK.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

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3

3. Growth

3.1 Past

  • ELK shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -1100.00%.
  • The earnings per share for ELK have been decreasing by -11.90% on average. This is quite bad
  • The Revenue for ELK has decreased by -46.80% in the past year. This is quite bad
  • Measured over the past years, ELK shows a decrease in Revenue. The Revenue has been decreasing by -4.35% on average per year.
EPS 1Y (TTM)-1100%
EPS 3Y-53.14%
EPS 5Y-11.9%
EPS Q2Q%-66.67%
Revenue 1Y (TTM)-46.8%
Revenue growth 3Y-18.65%
Revenue growth 5Y-4.35%
Sales Q2Q%-2.63%

3.2 Future

  • The Earnings Per Share is expected to grow by 49.55% on average over the next years. This is a very strong growth
  • Based on estimates for the next years, ELK will show a small growth in Revenue. The Revenue will grow by 0.27% on average per year.
EPS Next Y-185.57%
EPS Next 2Y32.5%
EPS Next 3Y49.55%
EPS Next 5YN/A
Revenue Next Year-8.51%
Revenue Next 2Y-2.48%
Revenue Next 3Y0.27%
Revenue Next 5YN/A

3.3 Evolution

  • When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
  • The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
ELK.OL Yearly Revenue VS EstimatesELK.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 10B 20B 30B 40B
ELK.OL Yearly EPS VS EstimatesELK.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 5 10 15

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2

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for ELK. In the last year negative earnings were reported.
  • With a Price/Forward Earnings ratio of 20.64, ELK is valued on the expensive side.
  • The rest of the industry has a similar Price/Forward Earnings ratio as ELK.
  • ELK is valuated at similar levels of the S&P average when we compare the Price/Forward Earnings ratio to 25.64, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE N/A
Fwd PE 20.64
ELK.OL Price Earnings VS Forward Price EarningsELK.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 20 -20

4.2 Price Multiples

  • ELK's Enterprise Value to EBITDA ratio is rather cheap when compared to the industry. ELK is cheaper than 82.35% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.59
ELK.OL Per share dataELK.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 10 20 30

4.3 Compensation for Growth

  • A more expensive valuation may be justified as ELK's earnings are expected to grow with 49.55% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y32.5%
EPS Next 3Y49.55%

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1

5. Dividend

5.1 Amount

  • ELK has a Yearly Dividend Yield of 1.05%.
  • Compared to an average industry Dividend Yield of 2.28, ELK is paying slightly less dividend.
  • Compared to an average S&P500 Dividend Yield of 1.83, ELK's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.05%

5.2 History

Dividend Growth(5Y)N/A
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DPN/A
EPS Next 2Y32.5%
EPS Next 3Y49.55%
ELK.OL Yearly Income VS Free CF VS DividendELK.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B 4B 6B 8B

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ELKEM ASA

OSL:ELK (2/2/2026, 7:00:00 PM)

28.26

-0.38 (-1.33%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)10-23
Earnings (Next)02-11
Inst Owners19.77%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap18.07B
Revenue(TTM)16.90B
Net Income(TTM)-509.00M
Analysts80
Price Target31.47 (11.36%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.05%
Yearly DividendN/A
Dividend Growth(5Y)N/A
DPN/A
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-794.23%
Min EPS beat(2)-1717.16%
Max EPS beat(2)128.7%
EPS beat(4)1
Avg EPS beat(4)-1012.51%
Min EPS beat(4)-2351.11%
Max EPS beat(4)128.7%
EPS beat(8)2
Avg EPS beat(8)-1098.43%
EPS beat(12)3
Avg EPS beat(12)-769.13%
EPS beat(16)7
Avg EPS beat(16)-570.96%
Revenue beat(2)1
Avg Revenue beat(2)0.07%
Min Revenue beat(2)-5.2%
Max Revenue beat(2)5.35%
Revenue beat(4)2
Avg Revenue beat(4)-0.45%
Min Revenue beat(4)-5.85%
Max Revenue beat(4)5.35%
Revenue beat(8)4
Avg Revenue beat(8)-1.9%
Revenue beat(12)5
Avg Revenue beat(12)-2.35%
Revenue beat(16)7
Avg Revenue beat(16)-1.31%
PT rev (1m)4.52%
PT rev (3m)10.97%
EPS NQ rev (1m)-450%
EPS NQ rev (3m)-164.71%
EPS NY rev (1m)-7.07%
EPS NY rev (3m)-3.34%
Revenue NQ rev (1m)-0.74%
Revenue NQ rev (3m)-6.1%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.38%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 20.64
P/S 1.07
P/FCF N/A
P/OCF 13.38
P/B 0.76
P/tB 0.77
EV/EBITDA 6.59
EPS(TTM)-0.8
EYN/A
EPS(NY)1.37
Fwd EY4.85%
FCF(TTM)-2.28
FCFYN/A
OCF(TTM)2.11
OCFY7.48%
SpS26.42
BVpS37.29
TBVpS36.53
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -1.07%
ROE -2.13%
ROCE 3.14%
ROIC 2.29%
ROICexc 2.45%
ROICexgc 2.48%
OM 8.13%
PM (TTM) N/A
GM 53.81%
FCFM N/A
ROA(3y)6.39%
ROA(5y)6.2%
ROE(3y)11.85%
ROE(5y)12.17%
ROIC(3y)8.73%
ROIC(5y)8.61%
ROICexc(3y)10.76%
ROICexc(5y)10.71%
ROICexgc(3y)11.49%
ROICexgc(5y)11.66%
ROCE(3y)12.41%
ROCE(5y)12.33%
ROICexgc growth 3Y-39.97%
ROICexgc growth 5Y-3.21%
ROICexc growth 3Y-38.01%
ROICexc growth 5Y-2.06%
OM growth 3Y-7.33%
OM growth 5Y22.64%
PM growth 3Y-41.92%
PM growth 5Y-6.54%
GM growth 3Y0.8%
GM growth 5Y2.02%
F-Score5
Asset Turnover0.36
Health
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF N/A
Debt/EBITDA 2.7
Cap/Depr 100.39%
Cap/Sales 16.64%
Interest Coverage 1.76
Cash Conversion 32.37%
Profit Quality N/A
Current Ratio 3.27
Quick Ratio 1.67
Altman-Z 1.73
F-Score5
WACC7.57%
ROIC/WACC0.3
Cap/Depr(3y)178.1%
Cap/Depr(5y)168.55%
Cap/Sales(3y)17.35%
Cap/Sales(5y)14.34%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-1100%
EPS 3Y-53.14%
EPS 5Y-11.9%
EPS Q2Q%-66.67%
EPS Next Y-185.57%
EPS Next 2Y32.5%
EPS Next 3Y49.55%
EPS Next 5YN/A
Revenue 1Y (TTM)-46.8%
Revenue growth 3Y-18.65%
Revenue growth 5Y-4.35%
Sales Q2Q%-2.63%
Revenue Next Year-8.51%
Revenue Next 2Y-2.48%
Revenue Next 3Y0.27%
Revenue Next 5YN/A
EBIT growth 1Y55.61%
EBIT growth 3Y-24.62%
EBIT growth 5Y17.3%
EBIT Next Year154.93%
EBIT Next 3Y52.93%
EBIT Next 5YN/A
FCF growth 1Y-428.99%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-73.43%
OCF growth 3Y-25.52%
OCF growth 5Y2%

ELKEM ASA / ELK.OL FAQ

What is the ChartMill fundamental rating of ELKEM ASA (ELK.OL) stock?

ChartMill assigns a fundamental rating of 4 / 10 to ELK.OL.


What is the valuation status for ELK stock?

ChartMill assigns a valuation rating of 2 / 10 to ELKEM ASA (ELK.OL). This can be considered as Overvalued.


What is the profitability of ELK stock?

ELKEM ASA (ELK.OL) has a profitability rating of 5 / 10.


How financially healthy is ELKEM ASA?

The financial health rating of ELKEM ASA (ELK.OL) is 4 / 10.


Can you provide the expected EPS growth for ELK stock?

The Earnings per Share (EPS) of ELKEM ASA (ELK.OL) is expected to decline by -185.57% in the next year.