NHY Stock Analysis: Norsk Hydro ASA | OL
Aluminum | OL, Norway | Market Cap: 153.960m NOK | 12M Return: 12.7% | NO0005052605 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 221M
EPS Trend: 65.6%
Qual. Beats: 0
Rev. Trend: 71.9%
Qual. Beats: 0
Warnings
Tailwinds
No distinct edge detected
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Norsk Hydro ASA is a Norway-based, vertically integrated aluminum company operating across the full value chain, from bauxite mining and alumina refining to primary aluminum smelting, metal trading, extrusion, and recycling. The company is organized into five segments: Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy, and serves end markets including construction, automotive, and HVAC. Founded in 1905 and headquartered in Oslo, Hydro also generates and trades power, with renewable energy production (wind and solar) and hydropower assets in Norway.
The aluminum sector is among the most energy-intensive industries globally, which makes integrated power generation a meaningful strategic advantage for producers like Hydro. Vertical integration from bauxite to finished extruded products is a relatively uncommon business model, as most competitors focus on one or two stages of the value chain.
- LME aluminum prices set primary metal margins
- European construction demand drives Extrusions segment volumes
- EU carbon regulation lifts green aluminum premium demand
| Net Income: 9.76b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.03 > 0.02 and ΔFCF/TA -1.58 > 1.0 |
| NWC/Revenue: 19.15% < 20% (prev 17.47%; Δ 1.68% < -1%) |
| CFO/TA 0.16 > 3% & CFO 34.1b > Net Income 9.76b |
| Net Debt (21.2b) to EBITDA (29.2b): 0.73 < 3 |
| Current Ratio: 1.91 > 1.5 & < 3 |
| Outstanding Shares: last quarter (1.97b) vs 12m ago -0.41% < -2% |
| Gross Margin: 33.22% > 18% (prev 31.00%; Δ 2.22% > 0.5%) |
| Asset Turnover: 99.11% > 50% (prev 105.5%; Δ -6.38% > 0%) |
| Interest Coverage Ratio: 9.94 > 6 (EBIT TTM 17.3b / Interest Expense TTM 1.74b) |
| A: 0.19 (Total Current Assets 82.5b - Total Current Liabilities 43.3b) / Total Assets 210b |
| B: 0.30 (Retained Earnings 63.9b / Total Assets 210b) |
| C: 0.08 (EBIT TTM 17.3b / Avg Total Assets 206b) |
| D: 1.06 (Book Value of Equity 104b / Total Liabilities 97.9b) |
| Altman-Z'' = 3.90 = AA |
| DSRI: 1.15 (Receivables 31.1b/28.2b, Revenue 205b/214b) |
| GMI: 0.93 (GM 31.00% / 33.22%) |
| AQI: 0.96 (AQ_t 0.23 / AQ_t-1 0.24) |
| SGI: 0.95 (Revenue 205b / 214b) |
| TATA: -0.12 (NI 9.76b - CFO 34.1b) / TA 210b) |
| Beneish M = -3.03 (Cap -4..+1) = AA |
As of October 16, 2026, the stock is trading at NOK 76.00 with a total of 4,072,923 shares traded. Over the past week, the price has changed by -2.99%, over one month by -10.06%, over three months by -13.14% and over the past year by +12.68%.
Current recommended Stop Loss: 73.50 (which is 3.3% or 1.3 ATR below the current price).
Norsk Hydro ASA has no consensus analysts rating.
P/E Trailing = 15.7626
P/E Forward = 9.99
P/S = 0.7523
P/B = 1.5968
P/EG = 0.5563
Revenue TTM = 205b NOK
EBIT TTM = 17.3b NOK
EBITDA TTM = 29.2b NOK
Long Term Debt = 29.0b NOK (from longTermDebt, last quarter)
Short Term Debt = 6.69b NOK (from shortLongTermDebt, last quarter)
Debt = 36.6b NOK (from shortLongTermDebtTotal, last fiscal year)
Net Debt = 21.2b NOK (calculated: Debt 36.6b - CCE 15.4b)
Enterprise Value = 175b NOK (154b + Debt 36.6b - CCE 15.4b)
Interest Coverage Ratio = 9.94 (Ebit TTM 17.3b / Interest Expense TTM 1.74b)
EV/FCF = 24.04x (Enterprise Value 175b / FCF TTM 7.29b)
FCF Yield = 4.16% (FCF TTM 7.29b / Enterprise Value 175b)
FCF Margin = 3.56% (FCF TTM 7.29b / Revenue TTM 205b)
Net Margin = 4.77% (Net Income TTM 9.76b / Revenue TTM 205b)
Gross Margin = 33.22% ((Revenue TTM 205b - Cost of Revenue TTM 137b) / Revenue TTM)
Gross Margin QoQ = 38.30% (prev 31.93%)
Tobins Q-Ratio = 0.84 (Enterprise Value 175b / Total Assets 210b)
Interest Expense / Debt = 4.76% (Interest Expense 1.74b / Debt 36.6b)
Taxrate = 32.26% (4.90b / 15.2b)
NOPAT = 11.7b (EBIT 17.3b * (1 - 32.26%))
Current Ratio = 1.91 (Total Current Assets 82.5b / Total Current Liabilities 43.3b)
Debt / Equity = 0.35 (Debt 36.6b / totalStockholderEquity, last quarter 104b)
Debt / EBITDA = 0.73 (Net Debt 21.2b / EBITDA 29.2b)
Debt / FCF = 2.91 (Net Debt 21.2b / FCF TTM 7.29b)
Total Stockholder Equity = 102b (last 4 quarters mean from totalStockholderEquity)
RoA = 4.73% (Net Income 9.76b / Total Assets 210b)
RoE = 9.57% (Net Income TTM 9.76b / Total Stockholder Equity 102b)
RoCE = 13.21% (EBIT 17.3b / Capital Employed (Equity 102b + L.T.Debt 29.0b))
RoIC = 7.50% (NOPAT 11.7b / Invested Capital 156b)
WACC = 7.54% (E(154b)/V(191b) * Re(8.56%) + D(36.6b)/V(191b) * Rd(4.76%) * (1-Tc(0.32)))
Discount Rate = 8.56% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -99.36 | Cagr: -1.54%
[DCF] Terminal Value 73.10% ; FCFF base≈8.48b ; Y1≈7.44b ; Y5≈6.01b
[DCF] Fair Price = 38.30 (EV 96.5b - Net Debt 21.2b = Equity 75.3b / Shares 1.97b; r=8.35% [WACC [floored]]; 5y FCF grow -15.0% → 2.50% )
EPS Correlation: 65.59 | EPS CAGR: 18.81% | SUE: 0.46 | # QB: 0
Revenue Correlation: 71.88 | Revenue CAGR: 4.00% | SUE: 0.30 | # QB: 0
EPS current Quarter (2026-09-30): EPS=2.41 | Chg30d=-5.15% | Revisions=-40% | Analysts=8
EPS current Year (2026-12-31): EPS=8.62 | Chg30d=-1.83% | Revisions=-17% | GrowthEPS=+71.8% | GrowthRev=+3.4%
EPS next Year (2027-12-31): EPS=8.26 | Chg30d=-6.70% | Revisions=-50% | GrowthEPS=-4.3% | GrowthRev=+3.1%
[Analyst] Revisions Ratio: -55% (up=1, down=7)