Company Valuation: Photocure ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 2,769 2,895 1,827 1,681 1,900 1,397 - -
Change - 4.55% -36.89% -8.01% 13.04% -26.46% - -
Enterprise Value (EV) 1 2,483 2,639 1,567 1,387 1,661 1,228 1,240 1,237
Change - 6.28% -40.61% -11.53% 19.77% -26.06% 0.98% -0.22%
P/E -89.3x -40.2x 6,740x -344x -1,190x 18.3x 66.5x 44.7x
PBR - - - - - 3.88x 3.56x 3.35x
PEG - -0x -67x 0x 17.9x -0x -0.9x 0.9x
Capitalization / Revenue 7.68x 7.73x 4.09x 3.42x 3.57x 2.12x 2.1x 1.94x
EV / Revenue 6.89x 7.05x 3.51x 2.82x 3.12x 1.87x 1.86x 1.72x
EV / EBITDA 136x -107x 28.2x 28.2x 57.8x 11.6x 17x 14.3x
EV / EBIT -426x -53.9x 56.4x 68x -2,229x 11.1x 29.3x 22.6x
EV / FCF 113x -469x 35.4x 18.4x 95x 18.6x 109x 50.8x
FCF Yield 0.89% -0.21% 2.82% 5.43% 1.05% 5.37% 0.91% 1.97%
Dividend per Share 2 - - - - - - - -
Rate of return - - - - - - - -
EPS 2 -1.15 -2.66 0.01 -0.18 -0.06 2.83 0.78 1.16
Distribution rate - - - - - - - -
Net sales 1 360.5 374.5 446.2 491.7 532.6 658.3 666.3 720.3
EBITDA 1 18.3 -24.63 55.49 49.19 28.73 105.7 73 86.67
EBIT 1 -5.826 -49 27.81 20.4 -0.745 110.3 42.33 54.67
Net income 1 -30.9 -71.86 0.267 -4.81 -1.519 76.33 21 31.67
Net Debt 1 -285.4 -255.6 -259.5 -293.9 -238.9 -169 -157 -159.7
Reference price 2 102.70 106.80 67.40 62.00 71.40 51.90 51.90 51.90
Nbr of stocks (in thousands) 26,960 27,106 27,106 27,106 26,607 26,917 - -
Announcement Date 23/2/22 23/2/23 21/2/24 19/2/25 18/2/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
18.34x1.87x11.62x - 150M
31.77x11.54x23.41x0.62% 994B
29.54x - - 2.02% 640B
32.92x7.63x15.78x2.67% 454B
18.71x4.57x11.31x2.91% 337B
19.41x5.08x12.59x3.23% 261B
20.34x4.19x11.96x2.11% 246B
23.87x6.3x11.23x2.67% 204B
12.3x4.48x9.37x4.08% 190B
-43.47x6.35x24.81x2.29% 178B
Average 16.37x 5.78x 14.68x 2.51% 350.49B
Weighted average by Cap. 23.19x 7.72x 17.10x 2.05%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA


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