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ZAPTEC ASA (ZAP.OL) Stock Fundamental Analysis

OSL:ZAP - Oslo Bors ASA - NO0010713936 - Common Stock - Currency: NOK

13.95  +0.01 (+0.07%)

Fundamental Rating

3

Taking everything into account, ZAP scores 3 out of 10 in our fundamental rating. ZAP was compared to 59 industry peers in the Electrical Equipment industry. While ZAP seems to be doing ok healthwise, there are quite some concerns on its profitability. ZAP is valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

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1

1. Profitability

1.1 Basic Checks

In the past year ZAP has reported negative net income.
ZAP had a negative operating cash flow in the past year.
ZAP had positive earnings in 4 of the past 5 years.
The reported operating cash flow has been mixed in the past 5 years: ZAP reported negative operating cash flow in multiple years.
ZAP.OL Yearly Net Income VS EBIT VS OCF VS FCFZAP.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2017 2018 2019 2020 2021 2022 2023 0 -100M -200M

1.2 Ratios

Looking at the Return On Assets, with a value of -3.04%, ZAP is doing worse than 61.11% of the companies in the same industry.
ZAP has a Return On Equity of -5.76%. This is in the lower half of the industry: ZAP underperforms 62.96% of its industry peers.
Industry RankSector Rank
ROA -3.04%
ROE -5.76%
ROIC N/A
ROA(3y)0.5%
ROA(5y)6.75%
ROE(3y)-0.47%
ROE(5y)10.64%
ROIC(3y)N/A
ROIC(5y)N/A
ZAP.OL Yearly ROA, ROE, ROICZAP.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2017 2018 2019 2020 2021 2022 2023 0 20 -20 40

1.3 Margins

ZAP's Profit Margin has declined in the last couple of years.
In the last couple of years the Operating Margin of ZAP has declined.
With a Gross Margin value of 35.42%, ZAP perfoms like the industry average, outperforming 50.00% of the companies in the same industry.
In the last couple of years the Gross Margin of ZAP has declined.
ZAP does not have Profit Margin and Operating Margin available, so we won't be analyzing them here.
Industry RankSector Rank
OM N/A
PM (TTM) N/A
GM 35.42%
OM growth 3Y-44.4%
OM growth 5YN/A
PM growth 3Y-41.72%
PM growth 5YN/A
GM growth 3Y-1.04%
GM growth 5Y-17.06%
ZAP.OL Yearly Profit, Operating, Gross MarginsZAP.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2017 2018 2019 2020 2021 2022 2023 0 50 -50 -100

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4

2. Health

2.1 Basic Checks

ZAP does not have a ROIC to compare to the WACC, probably because it is not profitable.
The number of shares outstanding for ZAP has been increased compared to 1 year ago.
ZAP has more shares outstanding than it did 5 years ago.
The debt/assets ratio for ZAP has been reduced compared to a year ago.
ZAP.OL Yearly Shares OutstandingZAP.OL Yearly Shares OutstandingYearly Shares Outstanding 2017 2018 2019 2020 2021 2022 2023 20M 40M 60M 80M
ZAP.OL Yearly Total Debt VS Total AssetsZAP.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M 1B

2.2 Solvency

ZAP has an Altman-Z score of 2.63. This is not the best score and indicates that ZAP is in the grey zone with still only limited risk for bankruptcy at the moment.
With a decent Altman-Z score value of 2.63, ZAP is doing good in the industry, outperforming 77.78% of the companies in the same industry.
A Debt/Equity ratio of 0.34 indicates that ZAP is not too dependend on debt financing.
With a decent Debt to Equity ratio value of 0.34, ZAP is doing good in the industry, outperforming 72.22% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF N/A
Altman-Z 2.63
ROIC/WACCN/A
WACC7.96%
ZAP.OL Yearly LT Debt VS Equity VS FCFZAP.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2017 2018 2019 2020 2021 2022 2023 0 200M -200M 400M 600M

2.3 Liquidity

ZAP has a Current Ratio of 2.22. This indicates that ZAP is financially healthy and has no problem in meeting its short term obligations.
The Current ratio of ZAP (2.22) is better than 74.07% of its industry peers.
A Quick Ratio of 0.96 indicates that ZAP may have some problems paying its short term obligations.
Looking at the Quick ratio, with a value of 0.96, ZAP is in the better half of the industry, outperforming 61.11% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.22
Quick Ratio 0.96
ZAP.OL Yearly Current Assets VS Current LiabilitesZAP.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

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6

3. Growth

3.1 Past

ZAP shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -195.85%.
ZAP shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 3.00% yearly.
ZAP shows a small growth in Revenue. In the last year, the Revenue has grown by 0.01%.
The Revenue has been growing by 150.59% on average over the past years. This is a very strong growth!
EPS 1Y (TTM)-195.85%
EPS 3Y3%
EPS 5YN/A
EPS Q2Q%-212.88%
Revenue 1Y (TTM)0.01%
Revenue growth 3Y85.49%
Revenue growth 5Y150.59%
Sales Q2Q%-28.98%

3.2 Future

Based on estimates for the next years, ZAP will show a very strong growth in Earnings Per Share. The EPS will grow by 48.34% on average per year.
Based on estimates for the next years, ZAP will show a quite strong growth in Revenue. The Revenue will grow by 9.51% on average per year.
EPS Next Y-109.26%
EPS Next 2Y34.38%
EPS Next 3Y48.34%
EPS Next 5YN/A
Revenue Next Year-8.21%
Revenue Next 2Y5.02%
Revenue Next 3Y9.51%
Revenue Next 5YN/A

3.3 Evolution

The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
ZAP.OL Yearly Revenue VS EstimatesZAP.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 500M 1B 1.5B
ZAP.OL Yearly EPS VS EstimatesZAP.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 0 0.5 1 1.5

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2

4. Valuation

4.1 Price/Earnings Ratio

ZAP reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
With a Price/Forward Earnings ratio of 15.18, ZAP is valued correctly.
66.67% of the companies in the same industry are more expensive than ZAP, based on the Price/Forward Earnings ratio.
The average S&P500 Price/Forward Earnings ratio is at 92.74. ZAP is valued rather cheaply when compared to this.
Industry RankSector Rank
PE N/A
Fwd PE 15.18
ZAP.OL Price Earnings VS Forward Price EarningsZAP.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 50 -50

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
ZAP.OL Per share dataZAP.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 5 10

4.3 Compensation for Growth

ZAP's earnings are expected to grow with 48.34% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y34.38%
EPS Next 3Y48.34%

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0

5. Dividend

5.1 Amount

ZAP does not give a dividend.
Industry RankSector Rank
Dividend Yield N/A

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ZAPTEC ASA

OSL:ZAP (2/5/2025, 4:10:42 PM)

13.95

+0.01 (+0.07%)

Chartmill FA Rating
GICS SectorIndustrials
GICS IndustryGroupCapital Goods
GICS IndustryElectrical Equipment
Earnings (Last)11-13 2024-11-13/bmo
Earnings (Next)02-19 2025-02-19/amc
Inst Owners24.24%
Inst Owner ChangeN/A
Ins Owners0.43%
Ins Owner ChangeN/A
Market Cap1.22B
Analysts76.67
Price Target23.46 (68.17%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield N/A
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)359.9%
Min EPS beat(2)-429.7%
Max EPS beat(2)1149.51%
EPS beat(4)1
Avg EPS beat(4)99.59%
Min EPS beat(4)-429.7%
Max EPS beat(4)1149.51%
EPS beat(8)2
Avg EPS beat(8)13.95%
EPS beat(12)N/A
Avg EPS beat(12)N/A
EPS beat(16)N/A
Avg EPS beat(16)N/A
Revenue beat(2)1
Avg Revenue beat(2)-10.4%
Min Revenue beat(2)-22.07%
Max Revenue beat(2)1.27%
Revenue beat(4)2
Avg Revenue beat(4)-6.35%
Min Revenue beat(4)-22.07%
Max Revenue beat(4)4.13%
Revenue beat(8)3
Avg Revenue beat(8)-6.98%
Revenue beat(12)5
Avg Revenue beat(12)-4.22%
Revenue beat(16)N/A
Avg Revenue beat(16)N/A
PT rev (1m)-17.86%
PT rev (3m)0%
EPS NQ rev (1m)0%
EPS NQ rev (3m)-138.46%
EPS NY rev (1m)-115.05%
EPS NY rev (3m)-115.05%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-31.57%
Revenue NY rev (1m)-8.84%
Revenue NY rev (3m)-8.84%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE 15.18
P/S 0.94
P/FCF N/A
P/OCF N/A
P/B 1.85
P/tB 2.52
EV/EBITDA N/A
EPS(TTM)-0.19
EYN/A
EPS(NY)0.92
Fwd EY6.59%
FCF(TTM)-2.44
FCFYN/A
OCF(TTM)-1.49
OCFYN/A
SpS14.8
BVpS7.55
TBVpS5.55
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -3.04%
ROE -5.76%
ROCE N/A
ROIC N/A
ROICexc N/A
ROICexgc N/A
OM N/A
PM (TTM) N/A
GM 35.42%
FCFM N/A
ROA(3y)0.5%
ROA(5y)6.75%
ROE(3y)-0.47%
ROE(5y)10.64%
ROIC(3y)N/A
ROIC(5y)N/A
ROICexc(3y)N/A
ROICexc(5y)N/A
ROICexgc(3y)N/A
ROICexgc(5y)N/A
ROCE(3y)N/A
ROCE(5y)N/A
ROICexcg growth 3YN/A
ROICexcg growth 5YN/A
ROICexc growth 3YN/A
ROICexc growth 5YN/A
OM growth 3Y-44.4%
OM growth 5YN/A
PM growth 3Y-41.72%
PM growth 5YN/A
GM growth 3Y-1.04%
GM growth 5Y-17.06%
F-Score0
Asset Turnover1.03
Health
Industry RankSector Rank
Debt/Equity 0.34
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr 245.88%
Cap/Sales 6.45%
Interest Coverage N/A
Cash Conversion N/A
Profit Quality N/A
Current Ratio 2.22
Quick Ratio 0.96
Altman-Z 2.63
F-Score0
WACC7.96%
ROIC/WACCN/A
Cap/Depr(3y)171.46%
Cap/Depr(5y)266.17%
Cap/Sales(3y)4.14%
Cap/Sales(5y)6.45%
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-195.85%
EPS 3Y3%
EPS 5YN/A
EPS Q2Q%-212.88%
EPS Next Y-109.26%
EPS Next 2Y34.38%
EPS Next 3Y48.34%
EPS Next 5YN/A
Revenue 1Y (TTM)0.01%
Revenue growth 3Y85.49%
Revenue growth 5Y150.59%
Sales Q2Q%-28.98%
Revenue Next Year-8.21%
Revenue Next 2Y5.02%
Revenue Next 3Y9.51%
Revenue Next 5YN/A
EBIT growth 1Y-244.95%
EBIT growth 3Y3.13%
EBIT growth 5YN/A
EBIT Next Year-39.43%
EBIT Next 3Y24.25%
EBIT Next 5YN/A
FCF growth 1Y-443.92%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-263.11%
OCF growth 3YN/A
OCF growth 5YN/A