Scatec ASA
Financial ratios & Valuation

Historical Multiples (2014 – 2023)

Years

	2014	2015	2016	2017	2018	2019	2020	2021	2022	2023	TTM	Median
Valuation Ratios
Price/Earnings ratio	-123.89	54.08	1.03K	14.90	56.88	100.16	-126.07	62.51	-10.17	20.78	N/A	56.88
Price/Sales ratio Price/Sales ratio The P/E ratio and P/S reflects how many times investors are paying for every dollar of a company's sales. Since earnings are subject, to one degree or another, to accounting estimates and management manipulation, many investors consider a company's sales (revenue) figure a more reliable ratio component in calculating a stock's price multiple than the earnings figure. $\frac{StockPricePerShare}{RevenuePerShare}$	4.64	4.21	3.56	4.50	6.91	8.57	16.74	7.98	4.16	3.84	N/A	6.91
Price/Book Value ratio	3.52	4.53	5.27	3.85	4.22	5.21	5.27	2.61	1.51	1.50	N/A	4.22
Price/Cash Flow ratio	-23.01	7.24	4.93	5.98	6.38	8.34	27.76	11.70	16.52	5.97	N/A	6.38
Price/Free Cash Flow ratio	-2.17	-1.82	-23.81	29.55	-3.43	-3.34	-450.44	21.95	-10.15	-2.63	N/A	-3.43
Price/Earnings Growth ratio Price/Earnings Growth ratio The PEG ratio is a refinement of the P/E ratio and factors in a stock's estimated earnings growth into its current valuation.The general consensus is that if the PEG ratio indicates a value of 1, this means that the market is correctly valuing (the current P/E ratio) a stock in accordance with the stock's current estimated earnings per share growth. If the PEG ratio is less than 1, this means that EPS growth is potentially able to surpass the market's current valuation. In other words, the stock's price is being undervalued. On the other hand, stocks with high PEG ratios can indicate just the opposite - that the stock is currently overvalued. $\frac{PriceEarningsRatio}{ExpectedRevenueGrowth}$	2.34	-0.13	-10.92	0.00	-0.92	-25.84	0.39	-0.32	0.02	-0.13	N/A	-0.92
Dividend Yield Dividend Yield Income investors value a dividend-paying stock, while growth investors have little interest in dividends, preferring to capture large capital gains. Whatever your investing style, it is a matter of historical record that dividend-paying stocks have performed better than non-paying-dividend stocks over the long term. $\frac{DividendPerShare}{StockPricePerShare}$	1.90%	0.69%	1.71%	1.44%	1.01%	0.69%	0.28%	0.71%	3.23%	3.28%	1.94%	1.01%

Profitability Indicator Ratios
Gross Profit Margin	98.92%	100%	99.06%	99.80%	99.73%	99.72%	99.74%	99.34%	99.23%	99.26%	N/A	99.73%
Operating Profit Margin	39.99%	60.24%	55.57%	88.59%	54.64%	48.28%	32.47%	66.22%	17.18%	77.22%	N/A	54.64%
Pretax Profit Margin	12.47%	25.31%	9.76%	41.11%	28.06%	10.16%	-8.58%	24.98%	-36.47%	29.65%	N/A	28.06%
Net Profit Margin	-3.75%	7.79%	0.34%	30.24%	12.16%	8.56%	-13.28%	12.77%	-40.87%	18.47%	N/A	12.16%
Effective Tax Rate	18.56%	38.23%	28.72%	4.98%	30.03%	15.76%	-54.62%	39.92%	-12.05%	-11.30%	N/A	30.03%
Return on Assets	-0.35%	0.84%	0.04%	3.31%	0.94%	0.71%	-1.38%	1.17%	-3.34%	1.50%	N/A	0.94%
Return On Equity	-2.84%	8.38%	0.51%	25.88%	7.42%	5.21%	-4.18%	4.18%	-14.84%	7.22%	N/A	7.42%
Return on Capital Employed	4.13%	7.19%	8.57%	10.67%	4.81%	4.64%	3.88%	6.68%	1.57%	7.25%	N/A	4.81%

Liquidity Ratios
Current Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	0.84	N/A
Quick Ratio Quick Ratio The quick ratio is more conservative than the current ratio because it excludes inventory and other current assets, which generally are more difficult to turn into cash. A higher quick ratio means a more liquid current position. $\frac{CashAndCashEquivalents + ShortTermInvestments + AccountReceivables}{CurrentLiabilities}$	3.18	2.99	2.91	3.40	2.20	1.37	2.07	1.05	1.55	0.86	N/A	2.20
Cash ratio	2.35	2.04	2.00	2.99	1.79	0.99	1.70	0.80	0.96	0.55	N/A	1.79
Days of Sales Outstanding	143.89	184.14	86.97	122.74	186.78	209.52	142.25	88.90	60.42	51.32	N/A	186.78
Days of Inventory outstanding	4.49	N/A	-49.69	78.18K	57.06K	51.83K	95.89K	46.92K	3.53K	N/A	N/A	57.06K
Operating Cycle	148.39	N/A	37.28	78.31K	57.24K	52.03K	96.03K	47.00K	3.59K	51.32	N/A	57.24K
Days of Payables Outstanding	4.98K	N/A	1.13K	35.35K	19.71K	64.82K	39.62K	14.81K	9.42K	4.29K	N/A	19.71K
Cash Conversion Cycle Cash Conversion Cycle The cash conversion cycle (CCC = DSO + DIO – DPO) measures the number of days a company's cash is tied up in the production and sales process of its operations and the benefit it derives from payment terms from its creditors. The shorter this cycle, the more liquid the company's working capital position is. The CCC is also known as the "cash" or "operating" cycle. $(DSO+DIO-DPO)$	-4.84K	N/A	-1.09K	42.95K	37.53K	-12.78K	56.40K	32.19K	-5.82K	-4.24K	N/A	37.53K

Debt Ratios
Debt Ratio	0.68	0.71	0.71	0.70	0.69	0.67	0.51	0.59	0.64	0.63	N/A	0.69
Debt Equity Ratio	5.47	7.07	7.41	5.51	5.47	4.89	1.56	2.12	2.86	3.07	N/A	5.47
Long-term Debt to Capitalization	0.84	0.87	0.87	0.84	0.84	0.82	0.57	0.66	0.72	0.73	N/A	0.84
Total Debt to Capitalization	0.84	0.87	0.88	0.84	0.84	0.83	0.60	0.68	0.74	0.75	N/A	0.84
Interest Coverage Ratio	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A	N/A
Cash Flow to Debt Ratio	-0.02	0.08	0.14	0.11	0.12	0.12	0.12	0.10	0.03	0.08	N/A	0.12
Company Equity Multiplier	7.95	9.89	10.33	7.81	7.88	7.25	3.03	3.56	4.44	4.81	N/A	7.88

Cash Flow Ratios
Operating Cash Flow / Sales Ratio	-0.20	0.58	0.72	0.75	1.08	1.02	0.60	0.68	0.25	0.64	N/A	1.08
Free Cash Flow / Operating Cash Flow Ratio	10.57	-3.97	-0.20	0.20	-1.85	-2.49	-0.06	0.53	-1.62	-2.27	N/A	-1.85
Cash Flow Coverage Ratio	-0.02	0.08	0.14	0.11	0.12	0.12	0.12	0.10	0.03	0.08	N/A	0.12
Short Term Coverage Ratio	-0.85	3.02	2.61	2.66	3.42	2.22	1.00	1.80	0.34	0.71	N/A	3.42
Dividend Payout Ratio	-235.61%	37.44%	1768.07%	21.60%	57.85%	69.67%	-35.59%	44.58%	-32.92%	68.31%	-199.42%	69.67%

Scatec ASA Financial ratios & Valuation

Historical Multiples (2014 – 2023)

Scatec ASA
Financial ratios & Valuation