Nel ASA/Nkr NEL
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Capital at risk
About Nel ASA
Nel ASA is a global company headquartered in Oslo, Norway, specializing in hydrogen production technologies and solutions. The company's core business involves the development and manufacturing of hydrogen production plants, renewable energy storage, and hydrogen refueling stations. Nel ASA’s key products include electrolysers, which are used to produce hydrogen from renewable energy sources, and hydrogen fueling equipment that supports infrastructure for fuel cell electric vehicles. Established in 1927, Nel has a long history in the hydrogen sector and continues to expand its footprint through strategic collaborations and technological advancements. The company's competitive strengths lie in its extensive experience, advanced technology, and strong presence across key markets in Europe, North America, and Asia.
- Ticker
- Nkr NEL
- Sector
- Industrials
- Primary listing
- XOSL
- Employees
- 313
- Headquarters
- Oslo, Norway
- Website
- nelhydrogen.com
Nel ASA Metrics
BasicAdvanced
kr 3.8B
-
-kr 0.70
1.46
-
Price and volume
Market cap
kr 3.8B
Beta
1.46
52-week high
kr 3.96
52-week low
kr 1.92
Average daily volume
2M
Financial strength
Current ratio
3.998
Quick ratio
2.492
Long term debt to equity
0.049
Total debt to equity
0.061
Interest coverage (TTM)
-38.41%
Profitability
EBITDA (TTM)
-396.285
Gross margin (TTM)
57.05%
Net profit margin (TTM)
-137.63%
Operating margin (TTM)
-64.36%
Effective tax rate (TTM)
2.19%
Revenue per employee (TTM)
kr 2,990,000
Management effectiveness
Return on assets (TTM)
-6.98%
Return on equity (TTM)
-30.33%
Valuation
Price to revenue (TTM)
4.029
Price to book
1.05
Price to tangible book (TTM)
1.27
Price to free cash flow (TTM)
-6.379
Free cash flow yield (TTM)
-15.68%
Free cash flow per share (TTM)
-0.321
Growth
Revenue change (TTM)
-15.79%
Earnings per share change (TTM)
147.81%
3-year revenue growth (CAGR)
-7.45%
10-year revenue growth (CAGR)
26.58%
3-year earnings per share growth (CAGR)
-9.48%
10-year earnings per share growth (CAGR)
28.10%
Bulls say / Bears say
Order intake surged 224% year-on-year to NOK 230 million in Q2 2026, boosting the order backlog to NOK 1.213 billion and signaling robust demand for Nel’s PEM electrolysers (Stockopedia)
Nel commercially launched its next-generation pressurized alkaline PA-Series platform in Q2 2026, which management says can cut CapEx by up to 60% and improve energy efficiency, strengthening its competitive edge in advanced electrolysers (H2 Bulletin)
In Q4 2025, Nel’s PEM division secured its largest purchase order to date—a 40 MW contract from HYDS valued at over USD 50 million—demonstrating its ability to win major international projects (Nel Hydrogen Press Release)
Q2 2026 revenue from contracts declined 12% year-on-year to NOK 153 million, reflecting persistent headwinds in hydrogen project spending (Nel Hydrogen Press Release)
Nel reported an EBITDA loss of NOK 155 million in Q2 2026, including a NOK 70 million charge from the Iwatani settlement, underlining ongoing operational and litigation-related pressures (Nel Hydrogen Press Release)
Nel posted a net loss of NOK 189 million in Q2 2026, highlighting challenges in returning to profitability despite strategic investments (Stockopedia)
Data summarised monthly by Lightyear AI. Last updated on 30 Aug 2026.
Upcoming events
No upcoming events
Funds containing Nel ASA
Fund name | Fund size | Nkr NEL weighting |
|---|---|---|
Vanguard ESG Global All Cap£V3AB | £905M | 0.00% |
Data displayed above is indicative only and its accuracy or completeness is not guaranteed. Actual execution price may vary. Past performance is not indicative of future results. Your return may be affected by currency fluctuations and applicable fees and charges. Capital at risk.
Market data provided by CBOE Europe and Deutsche Börse.