ELKEM ASA (ELK.OL) Fundamental Analysis & Valuation

OSL:ELK • NO0010816093

Current stock price

28.04 NOK
-0.12 (-0.43%)
Last:

This ELK.OL fundamental analysis includes valuation metrics, fair value assessment, financial health analysis, profitability trends, growth metrics and dividend sustainability analysis.

3

1. ELK.OL Profitability Analysis

1.1 Basic Checks

  • ELK had negative earnings in the past year.
  • In the past year ELK had a positive cash flow from operations.
  • ELK had positive earnings in 4 of the past 5 years.
  • 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 2025 0 2B -2B 4B 6B 8B 10B

1.2 Ratios

  • ELK has a worse Return On Assets (-1.41%) than 71.43% of its industry peers.
  • ELK has a Return On Equity of -2.79%. This is in the lower half of the industry: ELK underperforms 71.43% of its industry peers.
  • ELK has a worse Return On Invested Capital (1.68%) than 60.00% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for ELK is below the industry average of 6.99%.
Industry RankSector Rank
ROA -1.41%
ROE -2.79%
ROIC 1.68%
ROA(3y)-0.12%
ROA(5y)5.76%
ROE(3y)-0.2%
ROE(5y)11.23%
ROIC(3y)3.48%
ROIC(5y)8.2%
ELK.OL Yearly ROA, ROE, ROICELK.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 0 10 20 30

1.3 Margins

  • The Operating Margin of ELK (5.93%) is comparable to the rest of the industry.
  • In the last couple of years the Operating Margin of ELK has grown nicely.
  • With a decent Gross Margin value of 53.85%, ELK is doing good in the industry, outperforming 80.00% of the companies in the same industry.
  • ELK's Gross Margin has improved in the last couple of years.
Industry RankSector Rank
OM 5.93%
PM (TTM) N/A
GM 53.85%
OM growth 3Y-36.76%
OM growth 5Y7.46%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.71%
GM growth 5Y2.99%
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 2025 0 10 20 30 40 50

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3

2. ELK.OL Health Analysis

2.1 Basic Checks

  • ELK has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it is destroying value.
  • Compared to 1 year ago, ELK has about the same amount of shares outstanding.
  • ELK has more shares outstanding than it did 5 years ago.
  • Compared to 1 year ago, ELK has a worse debt to assets ratio.
ELK.OL Yearly Shares OutstandingELK.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 10B 20B 30B 40B 50B

2.2 Solvency

  • ELK has an Altman-Z score of 1.64. This is a bad value and indicates that ELK is not financially healthy and even has some risk of bankruptcy.
  • Looking at the Altman-Z score, with a value of 1.64, ELK is doing worse than 71.43% of the companies in the same industry.
  • A Debt/Equity ratio of 0.40 indicates that ELK is not too dependend on debt financing.
  • With a Debt to Equity ratio value of 0.40, ELK perfoms like the industry average, outperforming 55.71% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF N/A
Altman-Z 1.64
ROIC/WACC0.24
WACC7.05%
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 2025 0 10B 20B

2.3 Liquidity

  • ELK has a Current Ratio of 2.24. This indicates that ELK is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 2.24, ELK is in the better half of the industry, outperforming 72.86% of the companies in the same industry.
  • ELK has a Quick Ratio of 1.13. This is a normal value and indicates that ELK is financially healthy and should not expect problems in meeting its short term obligations.
  • ELK's Quick ratio of 1.13 is in line compared to the rest of the industry. ELK outperforms 51.43% of its industry peers.
Industry RankSector Rank
Current Ratio 2.24
Quick Ratio 1.13
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 2025 5B 10B 15B 20B 25B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

2

3. ELK.OL Growth Analysis

3.1 Past

  • ELK shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -234.62%.
  • Looking at the last year, ELK shows a very negative growth in Revenue. The Revenue has decreased by -41.01% in the last year.
  • The Revenue has been decreasing by -7.20% on average over the past years.
EPS 1Y (TTM)-234.62%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-833.33%
Revenue 1Y (TTM)-41.01%
Revenue growth 3Y-28.38%
Revenue growth 5Y-7.2%
Sales Q2Q%-14.29%

3.2 Future

  • Based on estimates for the next years, ELK will show a very strong growth in Earnings Per Share. The EPS will grow by 81.21% on average per year.
  • ELK is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -2.01% yearly.
EPS Next Y199.93%
EPS Next 2Y98.3%
EPS Next 3Y81.21%
EPS Next 5YN/A
Revenue Next Year2.59%
Revenue Next 2Y4.27%
Revenue Next 3Y-2.01%
Revenue Next 5YN/A

3.3 Evolution

  • 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 2028 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 2028 0 5 10 15

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3

4. ELK.OL Valuation Analysis

4.1 Price/Earnings Ratio

  • ELK reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
  • ELK is valuated quite expensively with a Price/Forward Earnings ratio of 26.72.
  • 65.71% of the companies in the same industry are cheaper than ELK, based on the Price/Forward Earnings ratio.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 24.04, ELK is valued at the same level.
Industry RankSector Rank
PE N/A
Fwd PE 26.72
ELK.OL Price Earnings VS Forward Price EarningsELK.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 -20

4.2 Price Multiples

  • 70.00% of the companies in the same industry are more expensive than ELK, based on the Enterprise Value to EBITDA ratio.
Industry RankSector Rank
P/FCF N/A
EV/EBITDA 7.33
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

  • ELK's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • ELK's earnings are expected to grow with 81.21% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y98.3%
EPS Next 3Y81.21%

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1

5. ELK.OL Dividend Analysis

5.1 Amount

  • ELK has a Yearly Dividend Yield of 1.03%.
  • Compared to an average industry Dividend Yield of 2.38, ELK is paying slightly less dividend.
  • With a Dividend Yield of 1.03, ELK pays less dividend than the S&P500 average, which is at 1.91.
Industry RankSector Rank
Dividend Yield 1.03%

5.2 History

  • The dividend of ELK decreases each year by -35.09%.
Dividend Growth(5Y)-35.09%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • The earnings of ELK are negative and hence is the payout ratio. ELK will probably not be able to sustain this dividend level.
DP-28.44%
EPS Next 2Y98.3%
EPS Next 3Y81.21%
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 2025 0 2B -2B 4B 6B 8B

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ELK.OL Fundamentals: All Metrics, Ratios and Statistics

ELKEM ASA

OSL:ELK (3/17/2026, 12:04:48 PM)

28.04

-0.12 (-0.43%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryChemicals
Earnings (Last)02-13
Earnings (Next)04-30
Inst Owners20.33%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap17.93B
Revenue(TTM)16.54B
Net Income(TTM)-668.00M
Analysts80
Price Target33.49 (19.44%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.03%
Yearly Dividend0.3
Dividend Growth(5Y)-35.09%
DP-28.44%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-126.72%
Min EPS beat(2)-382.13%
Max EPS beat(2)128.7%
EPS beat(4)1
Avg EPS beat(4)-1080.43%
Min EPS beat(4)-2351.11%
Max EPS beat(4)128.7%
EPS beat(8)2
Avg EPS beat(8)-1050.28%
EPS beat(12)3
Avg EPS beat(12)-798.74%
EPS beat(16)6
Avg EPS beat(16)-595.2%
Revenue beat(2)0
Avg Revenue beat(2)-3.52%
Min Revenue beat(2)-5.2%
Max Revenue beat(2)-1.83%
Revenue beat(4)1
Avg Revenue beat(4)-1.88%
Min Revenue beat(4)-5.85%
Max Revenue beat(4)5.35%
Revenue beat(8)3
Avg Revenue beat(8)-2.65%
Revenue beat(12)4
Avg Revenue beat(12)-2.99%
Revenue beat(16)7
Avg Revenue beat(16)-1.18%
PT rev (1m)3.02%
PT rev (3m)15.14%
EPS NQ rev (1m)-13.89%
EPS NQ rev (3m)1450%
EPS NY rev (1m)-23.38%
EPS NY rev (3m)-35.94%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-0.65%
Revenue NY rev (3m)-4.22%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 26.72
P/S 1.08
P/FCF N/A
P/OCF 15.25
P/B 0.75
P/tB 0.76
EV/EBITDA 7.33
EPS(TTM)-1.05
EYN/A
EPS(NY)1.05
Fwd EY3.74%
FCF(TTM)-1.79
FCFYN/A
OCF(TTM)1.84
OCFY6.56%
SpS25.86
BVpS37.41
TBVpS36.68
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -1.41%
ROE -2.79%
ROCE 2.33%
ROIC 1.68%
ROICexc 1.79%
ROICexgc 1.81%
OM 5.93%
PM (TTM) N/A
GM 53.85%
FCFM N/A
ROA(3y)-0.12%
ROA(5y)5.76%
ROE(3y)-0.2%
ROE(5y)11.23%
ROIC(3y)3.48%
ROIC(5y)8.2%
ROICexc(3y)3.95%
ROICexc(5y)10.19%
ROICexgc(3y)4.13%
ROICexgc(5y)11.03%
ROCE(3y)4.92%
ROCE(5y)11.89%
ROICexgc growth 3Y-58%
ROICexgc growth 5Y-16.5%
ROICexc growth 3Y-57.13%
ROICexc growth 5Y-14.5%
OM growth 3Y-36.76%
OM growth 5Y7.46%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y1.71%
GM growth 5Y2.99%
F-Score4
Asset Turnover0.35
Health
Industry RankSector Rank
Debt/Equity 0.4
Debt/FCF N/A
Debt/EBITDA 2.59
Cap/Depr 84.6%
Cap/Sales 14.02%
Interest Coverage 1.43
Cash Conversion 31.6%
Profit Quality N/A
Current Ratio 2.24
Quick Ratio 1.13
Altman-Z 1.64
F-Score4
WACC7.05%
ROIC/WACC0.24
Cap/Depr(3y)137.02%
Cap/Depr(5y)158.31%
Cap/Sales(3y)18.9%
Cap/Sales(5y)15.19%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-234.62%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-833.33%
EPS Next Y199.93%
EPS Next 2Y98.3%
EPS Next 3Y81.21%
EPS Next 5YN/A
Revenue 1Y (TTM)-41.01%
Revenue growth 3Y-28.38%
Revenue growth 5Y-7.2%
Sales Q2Q%-14.29%
Revenue Next Year2.59%
Revenue Next 2Y4.27%
Revenue Next 3Y-2.01%
Revenue Next 5YN/A
EBIT growth 1Y-33.2%
EBIT growth 3Y-54.71%
EBIT growth 5Y-0.27%
EBIT Next Year586.1%
EBIT Next 3Y113.92%
EBIT Next 5YN/A
FCF growth 1Y16.45%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-42.07%
OCF growth 3Y-49.83%
OCF growth 5Y-11.04%

ELKEM ASA / ELK.OL Fundamental Analysis FAQ

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

ChartMill assigns a fundamental rating of 3 / 10 to ELK.OL.


What is the valuation status for ELK stock?

ChartMill assigns a valuation rating of 3 / 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 3 / 10.


How financially healthy is ELKEM ASA?

The financial health rating of ELKEM ASA (ELK.OL) is 3 / 10.


Can you provide the expected EPS growth for ELK stock?

The Earnings per Share (EPS) of ELKEM ASA (ELK.OL) is expected to grow by 199.93% in the next year.