NORSK HYDRO ASA (NHY.OL) Stock Fundamental Analysis

OSL:NHY • NO0005052605

87.66 NOK
+2.3 (+2.69%)
Last: Feb 23, 2026, 12:23 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

5

We assign a fundamental rating of 5 out of 10 to NHY. NHY was compared to 40 industry peers in the Metals & Mining industry. Both the profitability and the financial health of NHY get a neutral evaluation. Nothing too spectacular is happening here. NHY has a bad growth rate and is valued cheaply. These ratings could make NHY a good candidate for value investing.


Dividend Valuation Growth Profitability Health

6

1. Profitability

1.1 Basic Checks

  • NHY had positive earnings in the past year.
  • In the past year NHY had a positive cash flow from operations.
  • NHY had positive earnings in 4 of the past 5 years.
  • Of the past 5 years NHY 4 years had a positive operating cash flow.
NHY.OL Yearly Net Income VS EBIT VS OCF VS FCFNHY.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 10B 20B

1.2 Ratios

  • Looking at the Return On Assets, with a value of 5.35%, NHY is in the better half of the industry, outperforming 65.00% of the companies in the same industry.
  • The Return On Equity of NHY (10.81%) is better than 62.50% of its industry peers.
  • NHY's Return On Invested Capital of 10.71% is amongst the best of the industry. NHY outperforms 82.50% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for NHY is in line with the industry average of 7.94%.
  • The 3 year average ROIC (9.64%) for NHY is below the current ROIC(10.71%), indicating increased profibility in the last year.
Industry RankSector Rank
ROA 5.35%
ROE 10.81%
ROIC 10.72%
ROA(3y)5.56%
ROA(5y)4.96%
ROE(3y)10.95%
ROE(5y)9.96%
ROIC(3y)9.64%
ROIC(5y)8.3%
NHY.OL Yearly ROA, ROE, ROICNHY.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5 10 15 20

1.3 Margins

  • NHY has a Profit Margin (5.09%) which is comparable to the rest of the industry.
  • In the last couple of years the Profit Margin of NHY has declined.
  • NHY has a Operating Margin (10.58%) which is in line with its industry peers.
  • In the last couple of years the Operating Margin of NHY has grown nicely.
  • NHY's Gross Margin of 37.48% is fine compared to the rest of the industry. NHY outperforms 65.00% of its industry peers.
  • NHY's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 10.58%
PM (TTM) 5.09%
GM 37.48%
OM growth 3Y-9.93%
OM growth 5Y63.9%
PM growth 3Y-29.53%
PM growth 5YN/A
GM growth 3Y-3.53%
GM growth 5Y0.88%
NHY.OL Yearly Profit, Operating, Gross MarginsNHY.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 10 20 30 40

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5

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so NHY is still creating some value.
  • NHY has no outstanding debt. Therefor its Debt/Equity and Debt/FCF ratios are 0 and belong to the best of the industry.
NHY.OL Yearly Shares OutstandingNHY.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 500M 1B 1.5B 2B
NHY.OL Yearly Total Debt VS Total AssetsNHY.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 50B 100B 150B 200B

2.2 Solvency

  • An Altman-Z score of 3.04 indicates that NHY is not in any danger for bankruptcy at the moment.
  • Looking at the Altman-Z score, with a value of 3.04, NHY is in the better half of the industry, outperforming 62.50% of the companies in the same industry.
  • The Debt to FCF ratio of NHY is 3.69, which is a good value as it means it would take NHY, 3.69 years of fcf income to pay off all of its debts.
  • NHY's Debt to FCF ratio of 3.69 is fine compared to the rest of the industry. NHY outperforms 70.00% of its industry peers.
  • NHY has a Debt/Equity ratio of 0.28. This is a healthy value indicating a solid balance between debt and equity.
  • Looking at the Debt to Equity ratio, with a value of 0.28, NHY is doing worse than 60.00% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.69
Altman-Z 3.04
ROIC/WACC1.08
WACC9.88%
NHY.OL Yearly LT Debt VS Equity VS FCFNHY.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20B 40B 60B 80B 100B

2.3 Liquidity

  • A Current Ratio of 1.91 indicates that NHY should not have too much problems paying its short term obligations.
  • NHY has a Current ratio (1.91) which is in line with its industry peers.
  • A Quick Ratio of 1.25 indicates that NHY should not have too much problems paying its short term obligations.
  • With a Quick ratio value of 1.25, NHY perfoms like the industry average, outperforming 57.50% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 1.91
Quick Ratio 1.25
NHY.OL Yearly Current Assets VS Current LiabilitesNHY.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B 80B

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3

3. Growth

3.1 Past

  • NHY shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 11.04%, which is quite good.
  • The Earnings Per Share has been growing by 31.72% on average over the past years. This is a very strong growth
EPS 1Y (TTM)11.04%
EPS 3Y-21.95%
EPS 5Y31.72%
EPS Q2Q%-39.94%
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-19.1%

3.2 Future

  • Based on estimates for the next years, NHY will show a very strong growth in Earnings Per Share. The EPS will grow by 20.49% on average per year.
  • The Revenue is expected to decrease by -0.35% on average over the next years.
EPS Next Y38.38%
EPS Next 2Y22.02%
EPS Next 3Y20.49%
EPS Next 5YN/A
Revenue Next Year-0.78%
Revenue Next 2Y1.6%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A

3.3 Evolution

  • Although the future EPS growth is still strong, it is not able to hold up the even more excellent growth rate of the past years.
NHY.OL Yearly Revenue VS EstimatesNHY.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 50B 100B 150B 200B
NHY.OL Yearly EPS VS EstimatesNHY.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2 4 6 8 10

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8

4. Valuation

4.1 Price/Earnings Ratio

  • Based on the Price/Earnings ratio of 17.53, the valuation of NHY can be described as rather expensive.
  • NHY's Price/Earnings ratio is a bit cheaper when compared to the industry. NHY is cheaper than 75.00% of the companies in the same industry.
  • The average S&P500 Price/Earnings ratio is at 26.99. NHY is valued slightly cheaper when compared to this.
  • Based on the Price/Forward Earnings ratio of 12.68, the valuation of NHY can be described as correct.
  • 82.50% of the companies in the same industry are more expensive than NHY, based on the Price/Forward Earnings ratio.
  • NHY is valuated cheaply when we compare the Price/Forward Earnings ratio to 28.02, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 17.53
Fwd PE 12.68
NHY.OL Price Earnings VS Forward Price EarningsNHY.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, NHY is valued cheaply inside the industry as 90.00% of the companies are valued more expensively.
  • 87.50% of the companies in the same industry are more expensive than NHY, based on the Price/Free Cash Flow ratio.
Industry RankSector Rank
P/FCF 17.3
EV/EBITDA 5.16
NHY.OL Per share dataNHY.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

  • NHY's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • NHY has a very decent profitability rating, which may justify a higher PE ratio.
  • NHY's earnings are expected to grow with 20.49% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.46
PEG (5Y)0.55
EPS Next 2Y22.02%
EPS Next 3Y20.49%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

6

5. Dividend

5.1 Amount

  • NHY has a Yearly Dividend Yield of 2.47%.
  • Compared to an average industry Dividend Yield of 1.88, NHY pays a bit more dividend than its industry peers.
  • NHY's Dividend Yield is a higher than the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 2.47%

5.2 History

  • The dividend of NHY is nicely growing with an annual growth rate of 14.41%!
Dividend Growth(5Y)14.41%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • NHY pays out 40.44% of its income as dividend. This is a bit on the high side, but may be sustainable.
  • NHY's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP40.44%
EPS Next 2Y22.02%
EPS Next 3Y20.49%
NHY.OL Yearly Income VS Free CF VS DividendNHY.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B 20B
NHY.OL Dividend Payout.NHY.OL Dividend Payout, showing the Payout Ratio.NHY.OL Dividend Payout.PayoutRetained Earnings

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NORSK HYDRO ASA

OSL:NHY (2/23/2026, 12:23:16 PM)

87.66

+2.3 (+2.69%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryMetals & Mining
Earnings (Last)02-13
Earnings (Next)04-29
Inst Owners42.31%
Inst Owner ChangeN/A
Ins Owners0.04%
Ins Owner ChangeN/A
Market Cap173.43B
Revenue(TTM)N/A
Net Income(TTM)10.99B
Analysts66.09
Price Target78.73 (-10.19%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.47%
Yearly Dividend2.51
Dividend Growth(5Y)14.41%
DP40.44%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-11.09%
Min EPS beat(2)-20.21%
Max EPS beat(2)-1.96%
EPS beat(4)0
Avg EPS beat(4)-21.26%
Min EPS beat(4)-38.73%
Max EPS beat(4)-1.96%
EPS beat(8)0
Avg EPS beat(8)-19.06%
EPS beat(12)2
Avg EPS beat(12)-19.33%
EPS beat(16)5
Avg EPS beat(16)-9.81%
Revenue beat(2)2
Avg Revenue beat(2)2.72%
Min Revenue beat(2)2.09%
Max Revenue beat(2)3.36%
Revenue beat(4)4
Avg Revenue beat(4)3.27%
Min Revenue beat(4)2.09%
Max Revenue beat(4)5.34%
Revenue beat(8)5
Avg Revenue beat(8)1.53%
Revenue beat(12)7
Avg Revenue beat(12)1.32%
Revenue beat(16)10
Avg Revenue beat(16)3.12%
PT rev (1m)-0.02%
PT rev (3m)5.58%
EPS NQ rev (1m)-11.52%
EPS NQ rev (3m)-37.82%
EPS NY rev (1m)0%
EPS NY rev (3m)-5.57%
Revenue NQ rev (1m)-0.68%
Revenue NQ rev (3m)-0.79%
Revenue NY rev (1m)0%
Revenue NY rev (3m)0.16%
Valuation
Industry RankSector Rank
PE 17.53
Fwd PE 12.68
P/S 0.8
P/FCF 17.3
P/OCF 7.91
P/B 1.71
P/tB 1.85
EV/EBITDA 5.16
EPS(TTM)5
EY5.7%
EPS(NY)6.91
Fwd EY7.89%
FCF(TTM)5.07
FCFY5.78%
OCF(TTM)11.08
OCFY12.64%
SpS109.08
BVpS51.38
TBVpS47.48
PEG (NY)0.46
PEG (5Y)0.55
Graham Number76.03
Profitability
Industry RankSector Rank
ROA 5.35%
ROE 10.81%
ROCE 13.92%
ROIC 10.72%
ROICexc 12.55%
ROICexgc 13.28%
OM 10.58%
PM (TTM) 5.09%
GM 37.48%
FCFM 4.65%
ROA(3y)5.56%
ROA(5y)4.96%
ROE(3y)10.95%
ROE(5y)9.96%
ROIC(3y)9.64%
ROIC(5y)8.3%
ROICexc(3y)11.87%
ROICexc(5y)10.38%
ROICexgc(3y)12.76%
ROICexgc(5y)11.22%
ROCE(3y)12.54%
ROCE(5y)10.82%
ROICexgc growth 3Y-10.73%
ROICexgc growth 5Y69.35%
ROICexc growth 3Y-9.94%
ROICexc growth 5Y70.51%
OM growth 3Y-9.93%
OM growth 5Y63.9%
PM growth 3Y-29.53%
PM growth 5YN/A
GM growth 3Y-3.53%
GM growth 5Y0.88%
F-Score8
Asset Turnover1.05
Health
Industry RankSector Rank
Debt/Equity 0.28
Debt/FCF 3.69
Debt/EBITDA 0.86
Cap/Depr 111.84%
Cap/Sales 5.51%
Interest Coverage 250
Cash Conversion 65.51%
Profit Quality 91.23%
Current Ratio 1.91
Quick Ratio 1.25
Altman-Z 3.04
F-Score8
WACC9.88%
ROIC/WACC1.08
Cap/Depr(3y)113.19%
Cap/Depr(5y)94.53%
Cap/Sales(3y)6.11%
Cap/Sales(5y)5.44%
Profit Quality(3y)114.82%
Profit Quality(5y)160.97%
High Growth Momentum
Growth
EPS 1Y (TTM)11.04%
EPS 3Y-21.95%
EPS 5Y31.72%
EPS Q2Q%-39.94%
EPS Next Y38.38%
EPS Next 2Y22.02%
EPS Next 3Y20.49%
EPS Next 5YN/A
Revenue 1Y (TTM)N/A
Revenue growth 3YN/A
Revenue growth 5YN/A
Sales Q2Q%-19.1%
Revenue Next Year-0.78%
Revenue Next 2Y1.6%
Revenue Next 3Y-0.35%
Revenue Next 5YN/A
EBIT growth 1Y83%
EBIT growth 3Y-0.19%
EBIT growth 5Y74.29%
EBIT Next Year79.72%
EBIT Next 3Y25.56%
EBIT Next 5YN/A
FCF growth 1Y-29.93%
FCF growth 3Y-41.66%
FCF growth 5Y-15.47%
OCF growth 1Y-19.74%
OCF growth 3Y2%
OCF growth 5Y3.91%

NORSK HYDRO ASA / NHY.OL FAQ

What is the fundamental rating for NHY stock?

ChartMill assigns a fundamental rating of 5 / 10 to NHY.OL.


What is the valuation status of NORSK HYDRO ASA (NHY.OL) stock?

ChartMill assigns a valuation rating of 8 / 10 to NORSK HYDRO ASA (NHY.OL). This can be considered as Undervalued.


Can you provide the profitability details for NORSK HYDRO ASA?

NORSK HYDRO ASA (NHY.OL) has a profitability rating of 6 / 10.


What are the PE and PB ratios of NORSK HYDRO ASA (NHY.OL) stock?

The Price/Earnings (PE) ratio for NORSK HYDRO ASA (NHY.OL) is 17.53 and the Price/Book (PB) ratio is 1.71.


Is the dividend of NORSK HYDRO ASA sustainable?

The dividend rating of NORSK HYDRO ASA (NHY.OL) is 6 / 10 and the dividend payout ratio is 40.44%.