Elkem ASA's (OB:ELK) Intrinsic Value Is Potentially 24% Below Its Share Price
May 11
Norwegian (OSEAX) Chemicals Industry Analysis
UpdatedMay 17, 2024
DataAggregated Company Financials
Companies11
- 7D2.7%
- 3M-4.1%
- 1Y-20.8%
- YTD-5.2%
In the last week, the Chemicals industry is up 2.1%, with Elkem up 11%. During this same period, the Bergen Carbon Solutions underperformed, falling 11%. In the past year, the industry is down 21%. Looking forward, earnings are forecast to grow by 53% annually.
Industry Valuation and Performance
Has the Norwegian Chemicals Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 17 May 2024 | kr123.7b | kr209.1b | -kr1,430,700,140.07 | 23.4x | -86.5x | 0.6x |
| Sun, 14 Apr 2024 | kr127.6b | kr223.0b | kr933.6m | 164.1x | 136.7x | 0.6x |
| Tue, 12 Mar 2024 | kr123.3b | kr215.9b | kr917.0m | 166.3x | 134.5x | 0.6x |
| Thu, 08 Feb 2024 | kr127.3b | kr240.7b | kr7.8b | 14.7x | 16.3x | 0.5x |
| Sat, 06 Jan 2024 | kr129.1b | kr235.4b | kr7.5b | 15.2x | 17.2x | 0.5x |
| Mon, 04 Dec 2023 | kr130.1b | kr242.5b | kr7.7b | 15.1x | 16.9x | 0.5x |
| Wed, 01 Nov 2023 | kr128.4b | kr251.4b | kr8.2b | 15.3x | 15.6x | 0.5x |
| Fri, 29 Sep 2023 | kr142.8b | kr270.8b | kr15.7b | 13.3x | 9.1x | 0.5x |
| Sun, 27 Aug 2023 | kr138.0b | kr270.6b | kr15.7b | 12.8x | 8.8x | 0.5x |
| Tue, 25 Jul 2023 | kr148.8b | kr257.6b | kr15.3b | 14x | 9.7x | 0.6x |
| Thu, 22 Jun 2023 | kr141.0b | kr301.1b | kr29.2b | 11.5x | 4.8x | 0.5x |
| Sat, 20 May 2023 | kr159.6b | kr303.4b | kr29.4b | 13.1x | 5.4x | 0.5x |
| Mon, 17 Apr 2023 | kr171.5b | kr312.2b | kr39.0b | 11.9x | 4.4x | 0.5x |
| Wed, 15 Mar 2023 | kr171.9b | kr315.9b | kr39.5b | 11.6x | 4.4x | 0.5x |
| Fri, 10 Feb 2023 | kr175.7b | kr63.8b | kr38.7b | 10x | 4.5x | 2.8x |
| Sun, 08 Jan 2023 | kr169.5b | kr298.0b | kr31.9b | 11x | 5.3x | 0.6x |
| Tue, 06 Dec 2022 | kr168.9b | kr295.4b | kr31.7b | 10.9x | 5.3x | 0.6x |
| Thu, 03 Nov 2022 | kr169.0b | kr305.6b | kr32.7b | 11.1x | 5.2x | 0.6x |
| Sat, 01 Oct 2022 | kr147.2b | kr296.7b | kr26.1b | 9.2x | 5.6x | 0.5x |
| Mon, 29 Aug 2022 | kr164.6b | kr270.7b | kr24.4b | 12.1x | 6.8x | 0.6x |
| Wed, 27 Jul 2022 | kr164.1b | kr274.2b | kr24.6b | 13.9x | 6.7x | 0.6x |
| Fri, 24 Jun 2022 | kr162.8b | kr245.9b | kr21.1b | 13.2x | 7.7x | 0.7x |
| Sun, 22 May 2022 | kr183.7b | kr242.1b | kr20.8b | 16.3x | 8.8x | 0.8x |
| Tue, 19 Apr 2022 | kr191.4b | kr192.6b | kr9.2b | 28.6x | 20.8x | 1x |
| Thu, 17 Mar 2022 | kr170.2b | kr194.7b | kr9.3b | 27.2x | 18.4x | 0.9x |
| Sat, 12 Feb 2022 | kr179.7b | kr192.5b | kr9.6b | 29x | 18.6x | 0.9x |
| Mon, 10 Jan 2022 | kr179.6b | kr170.1b | kr9.7b | 25x | 18.6x | 1.1x |
| Wed, 08 Dec 2021 | kr172.8b | kr174.0b | kr9.8b | 21.5x | 17.6x | 1x |
| Fri, 05 Nov 2021 | kr182.1b | kr165.8b | kr9.5b | 21.4x | 19.2x | 1.1x |
| Sun, 03 Oct 2021 | kr173.5b | kr150.2b | kr12.0b | 21.6x | 14.4x | 1.2x |
| Tue, 31 Aug 2021 | kr174.8b | kr149.9b | kr12.0b | 16.2x | 14.5x | 1.2x |
| Wed, 07 Jul 2021 | kr172.8b | kr149.9b | kr12.0b | 14.1x | 14.4x | 1.2x |
Price to Earnings Ratio
20.1x
Current Industry PE
- Investors are pessimistic on the Norwegian Chemicals industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading close to its 3-year average PS ratio of 0.73x.
Past Earnings Growth
- Total earnings for the Chemicals industry have declined over the last three years, with the industry now making a loss overall.
- Meanwhile revenues have grown 15% per year.
- This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Norwegian Materials industry?
| NO Market | 0.39% | |
| Materials | 1.78% | |
| Chemicals | 2.74% | |
| Specialty Chemicals | 5.49% | |
| Fertilizers and Agricultural Chemicals | 1.83% | |
| Commodity Chemicals | 0.15% | |
| Diversified Chemicals | 0% | |
| Industrial Gases | 0% | |
Industry PE
Forecasted Growth
- Analysts are most optimistic on the Commodity Chemicals industry, expecting annual earnings growth of 85% over the next 5 years.
- In contrast, the Specialty Chemicals industry is expected to see its earnings grow by 45% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| YAR Yara International | kr323.00 | 1.8% +kr1.4b | -23.5% | PS0.5x | |
| ELK Elkem | kr21.62 | 10.9% +kr1.3b | -25.1% | PS0.4x | |
| BRG Borregaard | kr196.60 | 2.5% +kr478.9m | 5.5% | PE23.4x | |
| DSRT Desert Control | kr7.76 | 17.6% +kr62.2m | 14.1% | PS492.5x | |
| BEWI BEWi | kr31.15 | 0.5% +kr28.8m | -32.6% | PS0.5x |
