Company Valuation: Scatec ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 24,255 12,478 13,055 12,643 16,877 15,857 - -
Change - -48.56% 4.62% -3.16% 33.49% -6.04% - -
Enterprise Value (EV) 1 39,204 32,056 36,339 37,282 42,540 45,342 55,387 57,803
Change - -18.23% 13.36% 2.59% 14.1% 6.59% 22.15% 4.36%
P/E 62.9x -9.36x 20.8x 9.65x 16.2x 35.6x 11.8x 7.6x
PBR 2.62x 1.51x 1.5x 1.19x 1.67x 1.52x 1.33x 1.14x
PEG - 0x -0x 0x -0.8x -0.6x 0x 0.1x
Capitalization / Revenue 6.38x 3.33x 2.77x 1.92x 3.22x 2.85x 1.97x 1.52x
EV / Revenue 10.3x 8.55x 7.7x 5.67x 8.12x 8.15x 6.89x 5.55x
EV / EBITDA 13.5x 12.5x 10.2x 6.88x 10.6x 10.8x 8.96x 7.25x
EV / EBIT 19.5x 44.3x 13.8x 9.03x 15x 16.8x 13.2x 10.5x
EV / FCF 3.86x -26.1x -7.32x -266x -11.9x -9.1x -4.25x -76.8x
FCF Yield 25.9% -3.84% -13.7% -0.38% -8.39% -11% -23.5% -1.3%
Dividend per Share 2 2.54 1.94 - - - 0.09 0.53 0.962
Rate of return 1.66% 2.47% - - - 0.09% 0.53% 0.97%
EPS 2 2.43 -8.4 3.95 8.24 6.54 2.783 8.438 13.05
Distribution rate 105% -23.1% - - - 3.23% 6.28% 7.37%
Net sales 1 3,803 3,751 4,721 6,574 5,238 5,564 8,040 10,423
EBITDA 1 2,903 2,555 3,567 5,421 4,013 4,204 6,180 7,968
EBIT 1 2,012 723 2,625 4,127 2,845 2,694 4,198 5,489
Net income 1 388 -1,334 628 1,309 1,045 443.5 1,342 2,076
Net Debt 1 14,949 19,578 23,284 24,639 25,663 29,485 39,530 41,946
Reference price 2 152.75 78.60 82.15 79.50 106.20 99.20 99.20 99.20
Nbr of stocks (in thousands) 158,792 158,756 158,917 159,028 158,917 159,849 - -
Announcement Date 2/3/22 A 2/3/23 A 1/26/24 A 1/31/25 A 1/30/26 A - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
20.77x9.88x14.11x2.24% 27.3B
73.7x18.45x21.93x-.--% 22.09B
27.46x7.78x9.92x1.38% 16.01B
13.06x5.68x9.34x2.86% 8.54B
26.47x4.77x8.25x3.46% 3.92B
Average 32.29x 9.31x 12.71x 1.99% 15.57B
Weighted average by Cap. 36.61x 11.16x 14.65x 1.56%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield

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