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NORSKE SKOG ASA (NSKOG.OL) Stock Fundamental Analysis

OSL:NSKOG - Euronext Oslo - NO0010861115 - Common Stock - Currency: NOK

22.75  -1.55 (-6.38%)

Fundamental Rating

2

We assign a fundamental rating of 2 out of 10 to NSKOG. NSKOG was compared to 11 industry peers in the Paper & Forest Products industry. Both the profitability and financial health of NSKOG have multiple concerns. NSKOG is valued expensive and it does not seem to be growing.


Dividend Valuation Growth Profitability Health

2

1. Profitability

1.1 Basic Checks

In the past year NSKOG has reported negative net income.
In the past year NSKOG has reported a negative cash flow from operations.
In multiple years NSKOG reported negative net income over the last 5 years.
In multiple years NSKOG reported negative operating cash flow during the last 5 years.
NSKOG.OL Yearly Net Income VS EBIT VS OCF VS FCFNSKOG.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B

1.2 Ratios

Looking at the Return On Assets, with a value of -1.75%, NSKOG is doing worse than 63.64% of the companies in the same industry.
NSKOG has a worse Return On Equity (-4.46%) than 63.64% of its industry peers.
NSKOG has a Return On Invested Capital of 5.29%. This is in the better half of the industry: NSKOG outperforms 63.64% of its industry peers.
NSKOG had an Average Return On Invested Capital over the past 3 years of 7.92%. This is in line with the industry average of 6.72%.
Industry RankSector Rank
ROA -1.75%
ROE -4.46%
ROIC 5.29%
ROA(3y)6.63%
ROA(5y)-1.66%
ROE(3y)15.08%
ROE(5y)-4.97%
ROIC(3y)7.92%
ROIC(5y)5.72%
NSKOG.OL Yearly ROA, ROE, ROICNSKOG.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 100 200

1.3 Margins

NSKOG has a better Operating Margin (6.68%) than 72.73% of its industry peers.
NSKOG's Operating Margin has declined in the last couple of years.
NSKOG has a Gross Margin (34.68%) which is comparable to the rest of the industry.
NSKOG's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 6.68%
PM (TTM) N/A
GM 34.68%
OM growth 3Y-10.16%
OM growth 5Y-29.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.45%
GM growth 5Y0.52%
NSKOG.OL Yearly Profit, Operating, Gross MarginsNSKOG.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 20 -20 40

1

2. Health

2.1 Basic Checks

Compared to 1 year ago, NSKOG has about the same amount of shares outstanding.
NSKOG has more shares outstanding than it did 5 years ago.
NSKOG has a worse debt/assets ratio than last year.
NSKOG.OL Yearly Shares OutstandingNSKOG.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M
NSKOG.OL Yearly Total Debt VS Total AssetsNSKOG.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B

2.2 Solvency

NSKOG has an Altman-Z score of 0.80. This is a bad value and indicates that NSKOG is not financially healthy and even has some risk of bankruptcy.
NSKOG's Altman-Z score of 0.80 is on the low side compared to the rest of the industry. NSKOG is outperformed by 63.64% of its industry peers.
A Debt/Equity ratio of 0.78 indicates that NSKOG is somewhat dependend on debt financing.
With a Debt to Equity ratio value of 0.78, NSKOG is not doing good in the industry: 63.64% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 0.78
Debt/FCF N/A
Altman-Z 0.8
ROIC/WACCN/A
WACCN/A
NSKOG.OL Yearly LT Debt VS Equity VS FCFNSKOG.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B

2.3 Liquidity

NSKOG has a Current Ratio of 1.29. This is a normal value and indicates that NSKOG is financially healthy and should not expect problems in meeting its short term obligations.
With a Current ratio value of 1.29, NSKOG perfoms like the industry average, outperforming 45.45% of the companies in the same industry.
NSKOG has a Quick Ratio of 1.29. This is a bad value and indicates that NSKOG is not financially healthy enough and could expect problems in meeting its short term obligations.
NSKOG's Quick ratio of 0.86 is in line compared to the rest of the industry. NSKOG outperforms 54.55% of its industry peers.
Industry RankSector Rank
Current Ratio 1.29
Quick Ratio 0.86
NSKOG.OL Yearly Current Assets VS Current LiabilitesNSKOG.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2B 4B 6B

3

3. Growth

3.1 Past

The earnings per share for NSKOG have decreased strongly by -134.91% in the last year.
The Revenue has decreased by -5.87% in the past year.
Measured over the past years, NSKOG shows a very negative growth in Revenue. The Revenue has been decreasing by -29.57% on average per year.
EPS 1Y (TTM)-134.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%222.28%
Revenue 1Y (TTM)-5.87%
Revenue growth 3Y-40.12%
Revenue growth 5Y-29.57%
Sales Q2Q%-4.74%

3.2 Future

NSKOG is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 26.11% yearly.
NSKOG is expected to show a small growth in Revenue. In the coming years, the Revenue will grow by 5.17% yearly.
EPS Next Y92.21%
EPS Next 2Y28.05%
EPS Next 3Y26.11%
EPS Next 5YN/A
Revenue Next Year3.98%
Revenue Next 2Y8.26%
Revenue Next 3Y5.17%
Revenue Next 5YN/A

3.3 Evolution

The Revenue growth rate is accelerating: in the next years the growth will be better than in the last years.
NSKOG.OL Yearly Revenue VS EstimatesNSKOG.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 5B 10B 15B
NSKOG.OL Yearly EPS VS EstimatesNSKOG.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2019 2020 2021 2022 2023 2024 2025 2026 2027 0 5 -5 10 15

1

4. Valuation

4.1 Price/Earnings Ratio

NSKOG reported negative earnings for the last year, which makes the Price/Earnings Ratio negative.
Also next year NSKOG is expected to report negative earnings again, which makes the also the Forward Price/Earnings Ratio negative.
Industry RankSector Rank
PE N/A
Fwd PE N/A
NSKOG.OL Price Earnings VS Forward Price EarningsNSKOG.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 0 10 -10 20

4.2 Price Multiples

Industry RankSector Rank
P/FCF N/A
EV/EBITDA N/A
NSKOG.OL Per share dataNSKOG.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 20 40 60 80 100

4.3 Compensation for Growth

A more expensive valuation may be justified as NSKOG's earnings are expected to grow with 26.11% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.05%
EPS Next 3Y26.11%

2

5. Dividend

5.1 Amount

NSKOG has a Yearly Dividend Yield of 1.65%. Purely for dividend investing, there may be better candidates out there.
NSKOG's Dividend Yield is comparable with the industry average which is at 4.13.
NSKOG's Dividend Yield is slightly below the S&P500 average, which is at 2.36.
Industry RankSector Rank
Dividend Yield 1.65%

5.2 History

The dividend of NSKOG decreases each year by -52.50%.
Dividend Growth(5Y)-52.5%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

DP0%
EPS Next 2Y28.05%
EPS Next 3Y26.11%
NSKOG.OL Yearly Income VS Free CF VS DividendNSKOG.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B -2B

NORSKE SKOG ASA

OSL:NSKOG (5/22/2025, 7:00:00 PM)

22.75

-1.55 (-6.38%)

Chartmill FA Rating
GICS SectorMaterials
GICS IndustryGroupMaterials
GICS IndustryPaper & Forest Products
Earnings (Last)04-23 2025-04-23
Earnings (Next)07-15 2025-07-15
Inst Owners26.82%
Inst Owner ChangeN/A
Ins Owners20.62%
Ins Owner ChangeN/A
Market Cap1.93B
Analysts81.82
Price Target26.52 (16.57%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.65%
Yearly DividendN/A
Dividend Growth(5Y)-52.5%
DP0%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)N/A
Avg EPS beat(2)N/A
Min EPS beat(2)N/A
Max EPS beat(2)N/A
EPS beat(4)N/A
Avg EPS beat(4)N/A
Min EPS beat(4)N/A
Max EPS beat(4)N/A
EPS beat(8)N/A
Avg EPS beat(8)N/A
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)0
Avg Revenue beat(2)-22.04%
Min Revenue beat(2)-22.69%
Max Revenue beat(2)-21.4%
Revenue beat(4)0
Avg Revenue beat(4)-18.83%
Min Revenue beat(4)-22.69%
Max Revenue beat(4)-11.67%
Revenue beat(8)0
Avg Revenue beat(8)-15.17%
Revenue beat(12)1
Avg Revenue beat(12)-12.3%
Revenue beat(16)3
Avg Revenue beat(16)-9.22%
PT rev (1m)-10.34%
PT rev (3m)1.96%
EPS NQ rev (1m)-77.66%
EPS NQ rev (3m)-203.64%
EPS NY rev (1m)0%
EPS NY rev (3m)85.78%
Revenue NQ rev (1m)-8.94%
Revenue NQ rev (3m)N/A
Revenue NY rev (1m)-3.35%
Revenue NY rev (3m)-20%
Valuation
Industry RankSector Rank
PE N/A
Fwd PE N/A
P/S 0.18
P/FCF N/A
P/OCF N/A
P/B 0.34
P/tB 0.34
EV/EBITDA N/A
EPS(TTM)-4.67
EYN/A
EPS(NY)-1.68
Fwd EYN/A
FCF(TTM)-6.42
FCFYN/A
OCF(TTM)-2.04
OCFYN/A
SpS123.89
BVpS66.55
TBVpS66.32
PEG (NY)N/A
PEG (5Y)N/A
Profitability
Industry RankSector Rank
ROA -1.75%
ROE -4.46%
ROCE 6.38%
ROIC 5.29%
ROICexc 5.85%
ROICexgc 5.87%
OM 6.68%
PM (TTM) N/A
GM 34.68%
FCFM N/A
ROA(3y)6.63%
ROA(5y)-1.66%
ROE(3y)15.08%
ROE(5y)-4.97%
ROIC(3y)7.92%
ROIC(5y)5.72%
ROICexc(3y)10.51%
ROICexc(5y)7.52%
ROICexgc(3y)10.53%
ROICexgc(5y)7.54%
ROCE(3y)9.55%
ROCE(5y)6.89%
ROICexcg growth 3Y-56.9%
ROICexcg growth 5Y-53.47%
ROICexc growth 3Y-56.85%
ROICexc growth 5Y-53.43%
OM growth 3Y-10.16%
OM growth 5Y-29.15%
PM growth 3YN/A
PM growth 5YN/A
GM growth 3Y5.45%
GM growth 5Y0.52%
F-Score2
Asset Turnover0.73
Health
Industry RankSector Rank
Debt/Equity 0.78
Debt/FCF N/A
Debt/EBITDA N/A
Cap/Depr N/A
Cap/Sales 3.54%
Interest Coverage 13.5
Cash Conversion N/A
Profit Quality N/A
Current Ratio 1.29
Quick Ratio 0.86
Altman-Z 0.8
F-Score2
WACCN/A
ROIC/WACCN/A
Cap/Depr(3y)N/A
Cap/Depr(5y)N/A
Cap/Sales(3y)N/A
Cap/Sales(5y)N/A
Profit Quality(3y)N/A
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-134.91%
EPS 3YN/A
EPS 5YN/A
EPS Q2Q%222.28%
EPS Next Y92.21%
EPS Next 2Y28.05%
EPS Next 3Y26.11%
EPS Next 5YN/A
Revenue 1Y (TTM)-5.87%
Revenue growth 3Y-40.12%
Revenue growth 5Y-29.57%
Sales Q2Q%-4.74%
Revenue Next Year3.98%
Revenue Next 2Y8.26%
Revenue Next 3Y5.17%
Revenue Next 5YN/A
EBIT growth 1Y-31.11%
EBIT growth 3Y-46.21%
EBIT growth 5Y-50.1%
EBIT Next Year752.67%
EBIT Next 3Y107.84%
EBIT Next 5YN/A
FCF growth 1Y-312.88%
FCF growth 3YN/A
FCF growth 5YN/A
OCF growth 1Y-107.6%
OCF growth 3YN/A
OCF growth 5YN/A