ELKEM ASA (ELK.OL) Stock Fundamental Analysis

OSL:ELK • NO0010816093

29.8 NOK
+0.48 (+1.64%)
Last: Feb 23, 2026, 04:25 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to ELK. ELK was compared to 69 industry peers in the Chemicals industry. Both the profitability and the financial health of ELK get a neutral evaluation. Nothing too spectacular is happening here. ELK is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • In the past year ELK has reported negative net income.
  • In the past year ELK had a positive cash flow from operations.
  • In the past 5 years ELK has always been profitable.
  • In the past 5 years ELK always reported a positive cash flow from operatings.
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

  • Looking at the Return On Assets, with a value of -1.07%, ELK is doing worse than 69.57% of the companies in the same industry.
  • The Return On Equity of ELK (-2.13%) is worse than 68.12% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.29%, ELK is in line with its industry, outperforming 42.03% of the companies in the same industry.
  • Measured over the past 3 years, the Average Return On Invested Capital for ELK is in line with the industry average of 7.10%.
  • 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 line with its industry, outperforming 55.07% of the companies in the same industry.
  • In the last couple of years the Operating Margin of ELK has grown nicely.
  • Looking at the Gross Margin, with a value of 53.81%, ELK belongs to the top of the industry, outperforming 82.61% of the companies in the same industry.
  • In the last couple of years the Gross Margin of ELK has grown nicely.
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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ROAROEROICOperating and Profit MarginShow most profitable peers

4

2. Health

2.1 Basic Checks

  • With a Return on Invested Capital (ROIC) just above the Cost of Capital (WACC), ELK is creating some value.
  • Compared to 1 year ago, ELK has about the same amount of shares outstanding.
  • The number of shares outstanding for ELK has been increased compared to 5 years ago.
  • ELK has a better debt/assets ratio than last year.
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

  • Based on the Altman-Z score of 1.74, we must say that ELK is in the distress zone and has some risk of bankruptcy.
  • ELK has a Altman-Z score of 1.74. This is in the lower half of the industry: ELK underperforms 69.57% of its industry peers.
  • A Debt/Equity ratio of 0.47 indicates that ELK is not too dependend on debt financing.
  • ELK's Debt to Equity ratio of 0.47 is in line compared to the rest of the industry. ELK outperforms 47.83% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.47
Debt/FCF N/A
Altman-Z 1.74
ROIC/WACC0.31
WACC7.42%
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.
  • ELK has a better Current ratio (3.27) than 88.41% of its industry peers.
  • A Quick Ratio of 1.67 indicates that ELK should not have too much problems paying its short term obligations.
  • The Quick ratio of ELK (1.67) is better than 76.81% 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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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

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%.
  • Measured over the past years, ELK shows a very negative growth in Earnings Per Share. The EPS has been decreasing by -11.90% on average per year.
  • ELK shows a very negative growth in Revenue. In the last year, the Revenue has decreased by -46.80%.
  • The Revenue has been decreasing by -4.35% on average over the past years.
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
  • The Revenue is expected to grow by 0.27% on average over the next years.
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.
  • When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
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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Find the best growth stocksShow best growing peers

2

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for ELK. In the last year negative earnings were reported.
  • ELK is valuated rather expensively with a Price/Forward Earnings ratio of 21.76.
  • ELK's Price/Forward Earnings is on the same level as the industry average.
  • The average S&P500 Price/Forward Earnings ratio is at 28.02. ELK is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 21.76
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

  • Based on the Enterprise Value to EBITDA ratio, ELK is valued a bit cheaper than 76.81% of the companies in the same industry.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 6.7
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%

More info and screens

Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

1

5. Dividend

5.1 Amount

  • With a Yearly Dividend Yield of 1.04%, ELK has a reasonable but not impressive dividend return.
  • ELK's Dividend Yield is slightly below the industry average, which is at 2.23.
  • Compared to an average S&P500 Dividend Yield of 1.81, ELK's dividend is way lower than the S&P500 average.
Industry RankSector Rank
Dividend Yield 1.04%

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 (2/23/2026, 4:25:30 PM)

29.8

+0.48 (+1.64%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-11
Earnings (Next)04-30
Inst Owners19.77%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap19.06B
Revenue(TTM)16.90B
Net Income(TTM)-509.00M
Analysts80
Price Target32.51 (9.09%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.04%
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)3.31%
PT rev (3m)14.65%
EPS NQ rev (1m)47.73%
EPS NQ rev (3m)-133.82%
EPS NY rev (1m)0%
EPS NY rev (3m)-230.98%
Revenue NQ rev (1m)0.42%
Revenue NQ rev (3m)-5.71%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-1.25%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 21.76
P/S 1.13
P/FCF N/A
P/OCF 14.1
P/B 0.8
P/tB 0.82
EV/EBITDA 6.7
EPS(TTM)-0.8
EYN/A
EPS(NY)1.37
Fwd EY4.59%
FCF(TTM)-2.28
FCFYN/A
OCF(TTM)2.11
OCFY7.09%
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 1.74
F-Score5
WACC7.42%
ROIC/WACC0.31
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.