Stock OKEA OKEA ASA
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Financials OKEA ASA

Equities

OKEA

NO0010816895

Oil & Gas Exploration and Production

Market Closed - Oslo Bors
Other stock markets
 10:45:00 2024-07-12 am EDT 		5-day change 1st Jan Change
22.74 NOK +2.62% Intraday chart for OKEA ASA -8.82% -14.51%
Jul. 10 OKEA ASA Reports Production Results for the Second Quarter of 2024 CI
May. 08 Norway oil workers agree to wage deal, averting strike RE

Valuation

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Capitalization 1 1,786 1,056 2,628 3,554 2,764 2,363 - -
Enterprise Value (EV) 1 2,679 2,585 3,377 4,136 2,186 2,363 1,045 2,363
P/E ratio -22.7 x -1.75 x 4.32 x 5.31 x -2.96 x 4.05 x 2.89 x 5.49 x
Yield - - - 11.4% 15% - 16.8% 13.9%
Capitalization / Revenue 0.61 x 0.61 x 0.68 x 0.53 x 0.31 x 0.22 x 0.27 x 0.35 x
EV / Revenue 0.61 x 0.61 x 0.68 x 0.53 x 0.31 x 0.22 x 0.27 x 0.35 x
EV / EBITDA 1.09 x 1.22 x 1.01 x 0.75 x 0.48 x 0.32 x 0.4 x 0.59 x
EV / FCF 1.43 x -2.9 x - 3.91 x 1.39 x -8.78 x 5.11 x -5.42 x
FCF Yield 69.8% -34.4% - 25.6% 71.7% -11.4% 19.6% -18.5%
Price to Book 1.06 x 0.98 x 1.54 x 1.71 x 3.81 x 1.66 x 0.94 x 1.15 x
Nbr of stocks (in thousands) 102,064 102,503 103,870 103,910 103,910 103,910 - -
Reference price 2 17.50 10.30 25.30 34.20 26.60 22.74 22.74 22.74
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Annual data)

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net sales 1 2,936 1,730 3,882 6,653 8,885 10,601 8,679 6,768
EBITDA 1 1,636 867 2,607 4,758 5,756 7,475 5,843 4,029
EBIT 1 827.2 -1,219 2,298 3,526 1,316 4,340 3,672 2,042
Operating Margin 28.18% -70.46% 59.19% 53% 14.81% 40.94% 42.31% 30.17%
Earnings before Tax (EBT) 1 419.4 -1,231 2,106 3,215 1,099 4,030 3,512 1,870
Net income 1 -71.13 -602.7 603.3 669.6 -935.4 582.9 816.8 430.2
Net margin -2.42% -34.84% 15.54% 10.07% -10.53% 5.5% 9.41% 6.36%
EPS 2 -0.7700 -5.890 5.860 6.440 -9.000 5.610 7.862 4.140
Free Cash Flow 1 1,247 -363.7 - 909.6 1,983 -269 462 -436.4
FCF margin 42.47% -21.02% - 13.67% 22.31% -2.54% 5.32% -6.45%
FCF Conversion (EBITDA) 76.19% - - 19.12% 34.44% - 7.91% -
FCF Conversion (Net income) - - - 135.85% - - 56.57% -
Dividend per Share 2 - - - 3.900 4.000 - 3.828 3.167
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
1NOK in Million2NOK
Estimates

Income Statement Evolution (Quarterly data)

Fiscal Period: December 2021 Q4 2022 Q1 2022 Q2 2022 Q3 2022 Q4 2023 Q1 2023 Q2 2023 Q3 2023 Q4 2024 Q1 2024 Q2 2024 Q3 2024 Q4
Net sales 1 1,725 1,516 1,332 2,143 1,664 2,954 1,707 2,105 2,118 3,422 2,550 2,423 2,623
EBITDA 1 1,258 1,143 927.7 1,636 1,086 1,591 1,167 1,336 1,661 2,159 1,707 1,681 1,786
EBIT 1 714.8 1,348 762.6 1,460 565 1,170 505.6 435.8 -795.2 1,223 903.7 997.9 1,063
Operating Margin 41.45% 88.93% 57.25% 68.1% 33.95% 39.61% 29.62% 20.7% -37.55% 35.75% 35.45% 41.19% 40.53%
Earnings before Tax (EBT) 1 653.6 1,287 531.6 737.6 658.7 1,121 391 460.2 -872.9 1,080 854.9 944.2 1,020
Net income 1 283.2 213.3 27.78 104.5 324.1 226.1 68.87 32.39 -1,263 -49.44 209.2 214.5 231.6
Net margin 16.42% 14.07% 2.09% 4.87% 19.47% 7.66% 4.03% 1.54% -59.62% -1.44% 8.2% 8.85% 8.83%
EPS 2 2.720 2.050 0.2700 1.000 3.120 2.180 0.6600 0.3100 -12.15 -0.4800 2.256 2.442 2.497
Dividend per Share 2 - - - 1.000 1.000 1.000 - - 1.000 - - - -
Announcement Date 2/11/22 5/5/22 7/13/22 10/26/22 1/31/23 5/4/23 7/13/23 10/26/23 2/8/24 4/25/24 - - -
1NOK in Million2NOK
Estimates

Balance Sheet Analysis

Fiscal Period: December 2019 2020 2021 2022 2023 2024 2025 2026
Net Debt 893 1,529 750 583 - - - -
Net Cash position - - - - 578 - 1,318 -
Leverage (Debt/EBITDA) 0.5457 x 1.764 x 0.2875 x 0.1224 x - - - -
Free Cash Flow 1 1,247 -364 - 910 1,983 -269 462 -436
ROE (net income / shareholders' equity) -4.53% - 43.2% 35.4% -66.7% 56.8% 49.9% 22.5%
ROA (Net income/ Total Assets) - - - - -5.48% 2.4% 3.9% 2.4%
Assets 1 - - - - 17,060 24,286 20,942 17,925
Book Value Per Share 2 16.50 10.50 16.50 20.00 6.980 13.70 24.20 19.80
Cash Flow per Share 2 - - - - 49.90 40.00 29.50 21.40
Capex 1 874 1,005 673 1,089 1,957 3,905 2,746 2,284
Capex / Sales 29.79% 58.08% 17.33% 16.37% 22.02% 36.83% 31.64% 33.75%
Announcement Date 2/13/20 2/5/21 2/11/22 1/31/23 2/8/24 - - -
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

Ratings for OKEA ASA

Trading Rating
Investor Rating
ESG Refinitiv
More Ratings

Analysts' Consensus

Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
5
Last Close Price
22.74 NOK
Average target price
35.6 NOK
Spread / Average Target
+56.55%
Consensus

EPS Revisions

Estimates Revisions

Quarterly earnings - Rate of surprise

Company calendar

Sector Oil Exploration & Production - Offshore

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Oil Exploration & Production - Offshore
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