Why We're Not Concerned About Scatec ASA's (OB:SCATC) Share Price
May 22
Norwegian (OSEAX) Renewable Energy Industry Analysis
UpdatedMay 29, 2024
DataAggregated Company Financials
Companies7
- 7D6.1%
- 3M17.7%
- 1Y-3.2%
- YTDn/a
The Renewable Energy industry is up 2.3% in the last week, with Scatec up 6.2%. Meanwhile, Alternus Energy Group actually underperformed within the industry, shrinking 16% in the last week. Despite this gain, the industry's performance has been flat over the past year. Looking forward, earnings are forecast to decline by 13% per year.
Industry Valuation and Performance
Has the Norwegian Renewable Energy Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 29 May 2024 | kr15.9b | kr4.3b | kr747.0m | 14.2x | 21.3x | 3.7x |
| Fri, 26 Apr 2024 | kr14.5b | kr4.0b | kr683.3m | 13.7x | 21.2x | 3.6x |
| Sun, 24 Mar 2024 | kr14.9b | kr3.9b | kr717.3m | 14.2x | 20.8x | 3.8x |
| Tue, 20 Feb 2024 | kr14.8b | kr4.0b | kr729.7m | 14x | 20.3x | 3.7x |
| Thu, 18 Jan 2024 | kr14.4b | kr4.0b | kr93.0m | 6.5x | 155.1x | 3.6x |
| Sat, 16 Dec 2023 | kr16.2b | kr4.0b | kr93.5m | 6.6x | 173.1x | 4x |
| Mon, 13 Nov 2023 | kr13.4b | kr4.0b | kr89.5m | 6.6x | 149.9x | 3.3x |
| Wed, 11 Oct 2023 | kr12.7b | kr3.7b | kr400.8m | 132.2x | 31.6x | 3.4x |
| Fri, 08 Sep 2023 | kr14.2b | kr3.7b | kr401.2m | 155.9x | 35.5x | 3.8x |
| Sun, 06 Aug 2023 | kr16.6b | kr3.6b | -kr275,761,884.00 | 13.8x | -60.2x | 4.7x |
| Tue, 04 Jul 2023 | kr15.6b | kr3.5b | -kr263,408,082.00 | 15.3x | -59.4x | 4.5x |
| Thu, 01 Jun 2023 | kr16.1b | kr3.5b | -kr274,157,670.00 | 15.1x | -58.7x | 4.6x |
| Sat, 29 Apr 2023 | kr14.9b | kr3.3b | -kr1,372,471,340.00 | 26x | -10.9x | 4.5x |
| Mon, 27 Mar 2023 | kr13.9b | kr3.7b | -kr1,435,776,027.00 | 24.4x | -9.7x | 3.8x |
| Wed, 22 Feb 2023 | kr16.2b | kr3.7b | -kr1,433,569,730.00 | 27.3x | -11.3x | 4.4x |
| Fri, 20 Jan 2023 | kr17.9b | kr3.6b | -kr985,371,513.00 | 58.3x | -18.1x | 4.9x |
| Sun, 18 Dec 2022 | kr18.1b | kr3.6b | -kr982,417,406.00 | 64.4x | -18.5x | 5x |
| Tue, 15 Nov 2022 | kr19.5b | kr3.6b | -kr965,720,598.00 | 68.1x | -20.2x | 5.5x |
| Thu, 13 Oct 2022 | kr15.7b | kr3.6b | -kr1,148,732,360.00 | n/a | -13.7x | 4.4x |
| Sat, 10 Sep 2022 | kr22.8b | kr3.5b | -kr1,140,858,107.00 | n/a | -20x | 6.4x |
| Mon, 08 Aug 2022 | kr23.6b | kr3.4b | -kr1,112,130,943.00 | 16x | -21.2x | 6.9x |
| Wed, 06 Jul 2022 | kr19.2b | kr3.5b | -kr923,455,551.00 | 15.4x | -20.8x | 5.5x |
| Fri, 03 Jun 2022 | kr20.5b | kr3.4b | -kr897,105,906.00 | 18x | -22.8x | 6x |
| Sun, 01 May 2022 | kr24.0b | kr3.3b | kr319.8m | 27.2x | 75x | 7.2x |
| Tue, 29 Mar 2022 | kr41.4b | kr3.3b | kr320.1m | 29.7x | 129.4x | 12.5x |
| Thu, 24 Feb 2022 | kr33.3b | kr3.3b | kr354.8m | 27.1x | 94x | 10x |
| Sat, 22 Jan 2022 | kr40.8b | kr3.1b | -kr332,416,575.00 | 6.7x | -122.6x | 13.1x |
| Mon, 20 Dec 2021 | kr48.2b | kr3.1b | -kr309,950,824.00 | 6.6x | -155.6x | 15.5x |
| Wed, 17 Nov 2021 | kr54.5b | kr3.0b | -kr397,068,840.00 | 40.2x | -137.3x | 18.1x |
| Fri, 15 Oct 2021 | kr48.0b | kr2.9b | -kr577,995,473.00 | 31.1x | -83x | 16.7x |
| Sun, 12 Sep 2021 | kr50.6b | kr2.9b | -kr578,818,153.35 | 37.1x | -87.4x | 17.6x |
| Tue, 10 Aug 2021 | kr51.5b | kr2.9b | -kr578,818,153.35 | 35.7x | -89x | 17.9x |
Price to Earnings Ratio
-70.4x
Current Industry PE
- Investors are optimistic on the Norwegian Renewable Electricity industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 21.1x which is higher than its 3-year average PE of 0.37x.
- The 3-year average PS ratio of 8.0x is higher than the industry's current PS ratio of 3.6x.
Past Earnings Growth
- Total earnings for the Renewable Electricity industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 15% per year.
- This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.
Industry Comparison
How does Norwegian Renewable Energy compare with similar industries?
| NO Market | 0.19% | |
| Utilities | 5.41% | |
| Renewable Energy | 6.13% | |
| Renewable Energy | 6.13% | |
| Independent Power Producers and Energy Traders | 0% | |
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SCATC Scatec | kr79.55 | 7.7% +kr905.8m | 7.1% | PE18.7x | |
| CLOUD Cloudberry Clean Energy | kr9.21 | 0.9% +kr23.1m | -26.2% | PE9.8x | |
| NSOL Norsk Renewables | kr0.50 | 24.4% +kr20.5m | -78.3% | PS6.7x | |
| MPCES MPC Energy Solutions | kr13.45 | 1.9% +kr5.6m | 7.2% | PS2.9x | |
| AEGA Aega | kr1.95 | 2.4% +kr1.1m | -15.6% | PS1.2x |
