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NORSKE SKOG ASA (NSKOG.OL) Stock Fundamental Analysis

Europe - Euronext Oslo - OSL:NSKOG - NO0010861115 - Common Stock

20.9 NOK
+0.5 (+2.45%)
Last: 1/14/2026, 4:19:58 PM
Fundamental Rating

2

Overall NSKOG gets a fundamental rating of 2 out of 10. We evaluated NSKOG against 12 industry peers in the Paper & Forest Products industry. Both the profitability and financial health of NSKOG have multiple concerns. NSKOG is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

  • NSKOG had negative earnings in the past year.
  • NSKOG had a negative operating cash flow in the past year.
  • The reported net income has been mixed in the past 5 years: NSKOG reported negative net income in multiple years.
  • In multiple years NSKOG reported negative operating cash flow during the last 5 years.
NSKOG.OL Yearly Net Income VS EBIT VS OCF VS FCFNSKOG.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

1.2 Ratios

  • NSKOG's Return On Assets of -2.98% is on the low side compared to the rest of the industry. NSKOG is outperformed by 75.00% of its industry peers.
  • The Return On Equity of NSKOG (-7.13%) is worse than 75.00% of its industry peers.
  • Looking at the Return On Invested Capital, with a value of 2.51%, NSKOG is doing worse than 66.67% of the companies in the same industry.
  • The Average Return On Invested Capital over the past 3 years for NSKOG is above the industry average of 5.34%.
  • The last Return On Invested Capital (2.51%) for NSKOG is well below the 3 year average (7.92%), which needs to be investigated, but indicates that NSKOG had better years and this may not be a problem.
Industry RankSector Rank
ROA -2.98%
ROE -7.13%
ROIC 2.51%
ROA(3y)6.63%
ROA(5y)-1.66%
ROE(3y)15.08%
ROE(5y)-4.97%
ROIC(3y)7.92%
ROIC(5y)5.72%
NSKOG.OL Yearly ROA, ROE, ROICNSKOG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 200

1.3 Margins

  • NSKOG's Operating Margin of 3.45% is on the low side compared to the rest of the industry. NSKOG is outperformed by 66.67% of its industry peers.
  • In the last couple of years the Operating Margin of NSKOG has declined.
  • NSKOG has a Gross Margin (34.35%) which is comparable to the rest of the industry.
  • In the last couple of years the Gross Margin of NSKOG has remained more or less at the same level.
Industry RankSector Rank
OM 3.45%
PM (TTM) N/A
GM 34.35%
OM growth 3Y-10.16%
OM growth 5Y-29.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.45%
GM growth 5Y0.52%
NSKOG.OL Yearly Profit, Operating, Gross MarginsNSKOG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

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1

2. Health

2.1 Basic Checks

  • Compared to 1 year ago, NSKOG has about the same amount of shares outstanding.
  • NSKOG has more shares outstanding than it did 5 years ago.
  • The debt/assets ratio for NSKOG is higher compared to a year ago.
NSKOG.OL Yearly Shares OutstandingNSKOG.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
NSKOG.OL Yearly Total Debt VS Total AssetsNSKOG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

2.2 Solvency

  • NSKOG has an Altman-Z score of 0.71. This is a bad value and indicates that NSKOG is not financially healthy and even has some risk of bankruptcy.
  • NSKOG has a worse Altman-Z score (0.71) than 83.33% of its industry peers.
  • NSKOG has a Debt/Equity ratio of 0.79. This is a neutral value indicating NSKOG is somewhat dependend on debt financing.
  • NSKOG has a Debt to Equity ratio of 0.79. This is in the lower half of the industry: NSKOG underperforms 66.67% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF N/A
Altman-Z 0.71
ROIC/WACCN/A
WACCN/A
NSKOG.OL Yearly LT Debt VS Equity VS FCFNSKOG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

  • A Current Ratio of 1.39 indicates that NSKOG should not have too much problems paying its short term obligations.
  • NSKOG's Current ratio of 1.39 is in line compared to the rest of the industry. NSKOG outperforms 50.00% of its industry peers.
  • A Quick Ratio of 0.78 indicates that NSKOG may have some problems paying its short term obligations.
  • With a Quick ratio value of 0.78, NSKOG is not doing good in the industry: 66.67% of the companies in the same industry are doing better.
Industry RankSector Rank
Current Ratio 1.39
Quick Ratio 0.78
NSKOG.OL Yearly Current Assets VS Current LiabilitesNSKOG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

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3

3. Growth

3.1 Past

  • NSKOG shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -114.57%.
  • Looking at the last year, NSKOG shows a very negative growth in Revenue. The Revenue has decreased by -78.63% in the last year.
  • NSKOG shows a very negative growth in Revenue. Measured over the last years, the Revenue has been decreasing by -29.57% yearly.
EPS 1Y (TTM)-114.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-24.41%
Revenue 1Y (TTM)-78.63%
Revenue growth 3Y-40.12%
Revenue growth 5Y-29.57%
Sales Q2Q%-16.21%

3.2 Future

  • The Earnings Per Share is expected to grow by 24.66% on average over the next years. This is a very strong growth
  • NSKOG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 2.37% yearly.
EPS Next Y148.2%
EPS Next 2Y22.17%
EPS Next 3Y24.66%
EPS Next 5YN/A
Revenue Next Year-13.53%
Revenue Next 2Y0.2%
Revenue Next 3Y2.37%
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.
NSKOG.OL Yearly Revenue VS EstimatesNSKOG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B
NSKOG.OL Yearly EPS VS EstimatesNSKOG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 5 -5 10 15

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1

4. Valuation

4.1 Price/Earnings Ratio

  • The Price/Earnings Ratio is negative for NSKOG. In the last year negative earnings were reported.
  • Also next year NSKOG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
NSKOG.OL Price Earnings VS Forward Price EarningsNSKOG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20 -20 -30

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
NSKOG.OL Per share dataNSKOG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

  • A more expensive valuation may be justified as NSKOG's earnings are expected to grow with 24.66% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y22.17%
EPS Next 3Y24.66%

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2

5. Dividend

5.1 Amount

  • NSKOG has a Yearly Dividend Yield of 1.65%.
  • Compared to an average industry Dividend Yield of 3.08, NSKOG has a dividend in line with its industry peers.
  • NSKOG's Dividend Yield is comparable with the S&P500 average which is at 1.92.
Industry RankSector Rank
Dividend Yield 1.65%

5.2 History

  • The dividend of NSKOG decreases each year by -52.50%.
Dividend Growth(5Y)-52.5%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DP0%
EPS Next 2Y22.17%
EPS Next 3Y24.66%
NSKOG.OL Yearly Income VS Free CF VS DividendNSKOG.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

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NORSKE SKOG ASA

OSL:NSKOG (1/14/2026, 4:19:58 PM)

20.9

+0.5 (+2.45%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryPaper & Forest Products
Earnings (Last)10-24
Earnings (Next)02-05
Inst Owners12.73%
Inst Owner ChangeN/A
Ins Owners20.58%
Ins Owner ChangeN/A
Market Cap1.77B
Revenue(TTM)2.11B
Net Income(TTM)-419.00M
Analysts42.5
Price Target23.97 (14.69%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.65%
Yearly DividendN/A
Dividend Growth(5Y)-52.5%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)2
Avg EPS beat(2)57.45%
Min EPS beat(2)21.1%
Max EPS beat(2)93.79%
EPS beat(4)2
Avg EPS beat(4)-914.62%
Min EPS beat(4)-3470.39%
Max EPS beat(4)93.79%
EPS beat(8)5
Avg EPS beat(8)317.06%
EPS beat(12)6
Avg EPS beat(12)198.35%
EPS beat(16)10
Avg EPS beat(16)178.71%
Revenue beat(2)0
Avg Revenue beat(2)-12.57%
Min Revenue beat(2)-23.8%
Max Revenue beat(2)-1.34%
Revenue beat(4)0
Avg Revenue beat(4)-14.55%
Min Revenue beat(4)-23.8%
Max Revenue beat(4)-1.34%
Revenue beat(8)0
Avg Revenue beat(8)-15.04%
Revenue beat(12)0
Avg Revenue beat(12)-12.79%
Revenue beat(16)2
Avg Revenue beat(16)-9.38%
PT rev (1m)0%
PT rev (3m)-18.97%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-87.5%
EPS NY rev (1m)0%
EPS NY rev (3m)266.79%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.98%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-5.04%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.18
P/FCF N/A
P/OCF N/A
P/B 0.3
P/tB 0.3
EV/EBITDA N/A
EPS(TTM)-0.64
EYN/A
EPS(NY)-2.37
Fwd EYN/A
FCF(TTM)-3.87
FCFYN/A
OCF(TTM)-1.71
OCFYN/A
SpS118.46
BVpS69.27
TBVpS69.04
PEG (NY)N/A
PEG (5Y)N/A
Graham NumberN/A
Profitability
Industry RankSector Rank
ROA -2.98%
ROE -7.13%
ROCE 3.02%
ROIC 2.51%
ROICexc 2.78%
ROICexgc 2.78%
OM 3.45%
PM (TTM) N/A
GM 34.35%
FCFM N/A
ROA(3y)6.63%
ROA(5y)-1.66%
ROE(3y)15.08%
ROE(5y)-4.97%
ROIC(3y)7.92%
ROIC(5y)5.72%
ROICexc(3y)10.51%
ROICexc(5y)7.52%
ROICexgc(3y)10.53%
ROICexgc(5y)7.54%
ROCE(3y)9.55%
ROCE(5y)6.89%
ROICexgc growth 3Y-56.9%
ROICexgc growth 5Y-53.47%
ROICexc growth 3Y-56.85%
ROICexc growth 5Y-53.43%
OM growth 3Y-10.16%
OM growth 5Y-29.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.45%
GM growth 5Y0.52%
F-Score2
Asset Turnover0.71
Health
Industry RankSector Rank
Debt/Equity 0.79
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 1.82%
Interest Coverage 7.08
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.39
Quick Ratio 0.78
Altman-Z 0.71
F-Score2
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-114.57%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%-24.41%
EPS Next Y148.2%
EPS Next 2Y22.17%
EPS Next 3Y24.66%
EPS Next 5YN/A
Revenue 1Y (TTM)-78.63%
Revenue growth 3Y-40.12%
Revenue growth 5Y-29.57%
Sales Q2Q%-16.21%
Revenue Next Year-13.53%
Revenue Next 2Y0.2%
Revenue Next 3Y2.37%
Revenue Next 5YN/A
EBIT growth 1Y-68.71%
EBIT growth 3Y-46.21%
EBIT growth 5Y-50.1%
EBIT Next Year698.94%
EBIT Next 3Y103.27%
EBIT Next 5YN/A
FCF growth 1Y36.06%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-106.73%
OCF growth 3YN/A
OCF growth 5YN/A

NORSKE SKOG ASA / NSKOG.OL FAQ

What is the fundamental rating for NSKOG stock?

ChartMill assigns a fundamental rating of 2 / 10 to NSKOG.OL.


Can you provide the valuation status for NORSKE SKOG ASA?

ChartMill assigns a valuation rating of 1 / 10 to NORSKE SKOG ASA (NSKOG.OL). This can be considered as Overvalued.


What is the profitability of NSKOG stock?

NORSKE SKOG ASA (NSKOG.OL) has a profitability rating of 2 / 10.


How financially healthy is NORSKE SKOG ASA?

The financial health rating of NORSKE SKOG ASA (NSKOG.OL) is 1 / 10.


What is the earnings growth outlook for NORSKE SKOG ASA?

The Earnings per Share (EPS) of NORSKE SKOG ASA (NSKOG.OL) is expected to grow by 148.2% in the next year.