Financials Kitron ASA London S.E.

Equities

0F0J

NO0003079709

Electronic Equipment & Parts

Market Closed - London S.E. 11:19:35 2023-07-12 am EDT 5-day change 1st Jan Change
42.7 NOK +134.62% Intraday chart for Kitron ASA +25.78% +27.59%

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,970 3,245 4,650 5,545 6,640 7,992 - -
Enterprise Value (EV) 1 2,754 4,003 5,221 7,172 8,110 9,102 8,867 8,662
P/E ratio 14.9 x 15.2 x 30.6 x 19.2 x 11.3 x 18.9 x 14.9 x 12.9 x
Yield 4.55% 3.86% 1.06% 1.78% 2.24% 2.2% 2.49% 3.43%
Capitalization / Revenue 0.6 x 0.82 x 1.25 x 0.85 x 0.75 x 1.02 x 0.92 x 0.84 x
EV / Revenue 0.83 x 1.01 x 1.41 x 1.11 x 0.92 x 1.16 x 1.02 x 0.91 x
EV / EBITDA 9.57 x 9.66 x 15.3 x 11.5 x 8.03 x 10.5 x 8.98 x 8.05 x
EV / FCF - 19.3 x 65 x 112 x 16.7 x 13.2 x 12.4 x 11.5 x
FCF Yield - 5.18% 1.54% 0.89% 5.98% 7.56% 8.04% 8.7%
Price to Book 2.65 x - 3.79 x 3.68 x 3.15 x 3.31 x 2.84 x 2.48 x
Nbr of stocks (in thousands) 179,104 179,104 197,014 197,691 198,198 199,590 - -
Reference price 2 11.00 18.12 23.60 28.05 33.50 40.04 40.04 40.04
Announcement Date 2/13/20 2/11/21 2/11/22 2/15/23 2/14/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 3,299 3,964 3,711 6,487 8,863 7,873 8,686 9,514
EBITDA 1 287.8 414.4 341.9 621 1,010 869.1 987.4 1,077
EBIT 1 201.5 312.6 240.8 459.6 808.3 675.3 773 856.5
Operating Margin 6.11% 7.89% 6.49% 7.08% 9.12% 8.58% 8.9% 9%
Earnings before Tax (EBT) 1 169.6 274.1 204.2 392.2 739.7 538.4 682.3 779.8
Net income 1 132.5 213.1 152.8 287.1 584.2 418 534.9 614.7
Net margin 4.02% 5.38% 4.12% 4.43% 6.59% 5.31% 6.16% 6.46%
EPS 2 0.7400 1.190 0.7700 1.460 2.973 2.117 2.687 3.111
Free Cash Flow 1 - 207.4 80.34 63.76 485.2 688.2 712.5 753.6
FCF margin - 5.23% 2.16% 0.98% 5.47% 8.74% 8.2% 7.92%
FCF Conversion (EBITDA) - 50.05% 23.5% 10.27% 48.06% 79.19% 72.17% 70%
FCF Conversion (Net income) - 97.32% 52.56% 22.21% 83.04% 164.65% 133.22% 122.61%
Dividend per Share 2 0.5000 0.7000 0.2500 0.5000 0.7500 0.8805 0.9965 1.374
Announcement Date 2/13/20 2/11/21 2/11/22 2/15/23 2/14/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4 2025 Q1
Net sales 1 1,429 1,580 1,664 1,813 2,235 2,318 2,122 2,276 2,047 1,943 1,802 2,147 -
EBITDA 1 116.2 142.7 158.8 203.2 250.9 264 245.2 260.7 178.9 227.3 208.3 260.1 -
EBIT 1 78.1 100.2 116.3 165 202.8 215.7 191.9 205.8 124.8 173.9 156.9 207.5 -
Operating Margin 5.47% 6.34% 6.99% 9.1% 9.08% 9.31% 9.04% 9.04% 6.1% 8.95% 8.71% 9.66% -
Earnings before Tax (EBT) 1 54.4 82.46 103.9 151.5 191.7 215.7 145.4 193.2 101.2 146.1 127.6 182.6 -
Net income 1 44.4 66.3 75.22 101.2 155.9 176.4 114.9 140.6 76.51 120.6 102 144.3 -
Net margin 3.11% 4.2% 4.52% 5.58% 6.98% 7.61% 5.41% 6.18% 3.74% 6.21% 5.66% 6.72% -
EPS 2 0.2300 0.3300 0.3800 0.5200 0.8208 0.8987 0.5922 0.6860 0.3531 0.5798 0.4760 0.6980 0.5850
Dividend per Share 2 - - - 0.5000 - - - 0.7500 - - - - -
Announcement Date 4/27/22 7/12/22 10/26/22 2/15/23 4/28/23 7/13/23 10/25/23 2/14/24 4/25/24 7/11/24 - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 1 784 758 571 1,627 1,470 1,110 875 670
Net Cash position 1 - - - - - - - -
Leverage (Debt/EBITDA) 2.725 x 1.829 x 1.671 x 2.619 x 1.456 x 1.277 x 0.8866 x 0.6224 x
Free Cash Flow 1 - 207 80.3 63.8 485 688 713 754
ROE (net income / shareholders' equity) 18.5% 27.1% 14.5% 21% 31.3% 21.1% 22.7% 22.9%
ROA (Net income/ Total Assets) - - - - 8.97% - - -
Assets 1 - - - - 6,516 - - -
Book Value Per Share 2 4.160 - 6.230 7.620 10.60 12.10 14.10 16.20
Cash Flow per Share - - - - - - - -
Capex 1 99.7 29.6 46 96.6 183 123 181 198
Capex / Sales 3.02% 0.75% 1.24% 1.49% 2.06% 1.56% 2.08% 2.08%
Announcement Date 2/13/20 2/11/21 2/11/22 2/15/23 2/14/24 - - -
1NOK in Million2NOK
Estimates

EPS & Dividend

Year-on-year evolution of the PER

Year-on-year evolution of the Yield

Change in Enterprise Value/EBITDA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
3
Last Close Price
40.04 NOK
Average target price
33 NOK
Spread / Average Target
-17.58%
Consensus