Norske Skog - Public Comps and Valuation Multiples

Norske Skog Overview

About Norske Skog

Norske Skog ASA is an industrial company in publication paper, packaging paper, energy production, and bioproducts. Publication paper products comprise both newsprint and magazine paper, both of which are marketed under the NOR brand. Packaging paper includes the recycled containerboard grades test liner and fluting, which are marketed under the STRATO brand. The company's core bioproducts are the nanocellulose product CEBINA and the bio-composite product CEBICO. Norske Skog owns and operates four industrial sites in Europe and one industrial site in Australasia.

Founded

1962

HQ

Employees

2.1K+

Website

norskeskog.com

Sectors

Paper & Forest Products

Financials

LTM Revenue $1.1B

LTM EBITDA $57.6M

EV

$529M

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Norske Skog Financials

As of September 2025, Norske Skog reported last 12-month revenue of $1.1B and EBITDA of $57.6M.

In the same period, Norske Skog generated $97.9M in LTM gross profit and $0.4M in net income.

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Norske Skog P&L

In the most recent fiscal year, Norske Skog reported revenue of $915M and EBITDA of $16.3M.

Norske Skog expects next 12-month revenue of XXX and NTM EBITDA of XXX

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	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue	$1.1B	XXX	$915M	XXX	XXX	XXX
Gross Profit	$97.9M	XXX	$328M	XXX	XXX	XXX
Gross Margin	9%	XXX	36%	XXX	XXX	XXX
EBITDA	$57.6M	XXX	$16.3M	XXX	XXX	XXX
EBITDA Margin	5%	XXX	2%	XXX	XXX	XXX
EBIT	$18.6M	XXX	-$20.5M	XXX	XXX	XXX
EBIT Margin	2%	XXX	-2%	XXX	XXX	XXX
Net Profit	$0.4M	XXX	-$97.3M	XXX	XXX	XXX
Net Margin	0%	XXX	-11%	XXX	XXX	XXX
Net Debt	XXX	XXX	$424M	XXX	XXX	XXX

Financial data powered by Morningstar, Inc.

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Financial performance metrics for Norske Skog including revenue, profitability, and margin analysis across different time periods. The company reported last twelve months revenue of $1.1B. EBITDA for the last twelve months was $57.6M. In the most recent fiscal year, Norske Skog achieved $915M in revenue and $16.3M in EBITDA.
Financial Metric	Last Twelve Months (LTM)	Next Twelve Months (NTM)	Most Recent Fiscal Year	Current Fiscal Year (2025)	Next Fiscal Year (2026)	Two Years Forward (2027)
Total Revenue	$1.1B	Analyst estimates available to subscribers	$915M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit	$97.9M	Analyst estimates available to subscribers	$328M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Gross Profit Margin	9.0% gross margin	Analyst estimates available to subscribers	35.8% gross profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA (Earnings Before Interest, Taxes, Depreciation, Amortization)	$57.6M	Analyst estimates available to subscribers	$16.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBITDA Margin	5.3% EBITDA margin	Analyst estimates available to subscribers	1.8% EBITDA margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT (Earnings Before Interest and Taxes)	$18.6M	Analyst estimates available to subscribers	-$20.5M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
EBIT Margin	1.7% EBIT margin	Analyst estimates available to subscribers	-2.2% EBIT margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Income (Net Profit)	$0.4M	Analyst estimates available to subscribers	-$97.3M	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Profit Margin	0.0% net profit margin	Analyst estimates available to subscribers	-10.6% net profit margin	Analyst estimates available to subscribers	Analyst estimates available to subscribers	Analyst estimates available to subscribers
Net Debt Position	Detailed debt information available to subscribers	Detailed debt information available to subscribers	$424M	Detailed debt information available to subscribers	Detailed debt information available to subscribers	Detailed debt information available to subscribers

Financial Performance Summary for Norske Skog

This financial data table provides comprehensive performance metrics for Norske Skog, a company based in Norway. The metrics include revenue, profitability measures, and operational efficiency indicators across multiple time periods.

Recent Performance Highlights

Norske Skog generated $1.1B in revenue over the last twelve months.
The company achieved $57.6M in EBITDA over the last twelve months.
Gross profit for the last twelve months was $97.9M.
Net income over the last twelve months reached $0.4M.

Fiscal Year Performance

In the most recent fiscal year, Norske Skog reported $915M in total revenue.
Fiscal year EBITDA was $16.3M.
The company maintained a gross profit margin of 35.8% in the most recent fiscal year.
EBITDA margin for the fiscal year was 1.8%.
Net profit margin reached -10.6% in the most recent fiscal year.

This financial data is sourced from Morningstar, Inc. and represents the most recent available information for Norske Skog. Forward-looking estimates and detailed financial projections are available through our premium subscription service.

Norske Skog Stock Performance

Norske Skog has current market cap of NOK 1.4B (or $136M), and EV of NOK 5.3B (or $529M).

Market Cap Evolution

Norske Skog Stock Data

As of October 17, 2025, Norske Skog's stock price is NOK 16 (or $2).

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EV	Market Cap	Price 1D	Price 1M	Price 3M	Price 12M	EPS
$529M	$136M	XXX	XXX	XXX	XXX	$-0.00

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Norske Skog Valuation Multiples

Norske Skog's trades at 0.6x EV/Revenue multiple, and 32.5x EV/EBITDA.

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Norske Skog Financial Valuation Multiples

As of October 17, 2025, Norske Skog has market cap of $136M and EV of $529M.

Equity research analysts estimate Norske Skog's 2025E EV/Revenue multiple at XXX and 2025E EV/EBITDA multiple at XXX

Norske Skog has a P/E ratio of 308.8x.

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Market cap (current)	$136M	XXX	$136M	XXX	XXX	XXX
EV (current)	$529M	XXX	$529M	XXX	XXX	XXX
EV/Revenue	0.5x	XXX	0.6x	XXX	XXX	XXX
EV/EBITDA	9.2x	XXX	32.5x	XXX	XXX	XXX
EV/EBIT	28.4x	XXX	-25.8x	XXX	XXX	XXX
EV/Gross Profit	5.4x	XXX	n/a	XXX	XXX	XXX
P/E	308.8x	XXX	-1.4x	XXX	XXX	XXX
EV/FCF	-29.1x	XXX	-3.4x	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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Norske Skog Margins & Growth Rates

Norske Skog's last 12 month revenue growth is 11%

Norske Skog's revenue per employee in the last FY averaged $0.4M, while opex per employee averaged $0.2M for the same period.

Norske Skog's rule of 40 is 22% (metric relevant for SaaS companies only, counted as combined revenue growth rate and EBITDA margin).

Norske Skog's rule of X is 32% (created by Bessemer, rule of X is another metric relevant for SaaS companies only, ~1.5x stronger vs. the traditional Rule of 40, counted as revenue growth rate multiplied by 2.5 plus EBITDA margin).

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Norske Skog Operational Valuation Multiples

	LTM	NTM	Last FY	FY 2025	FY 2026	FY 2027
Revenue Growth	11%	XXX	16%	XXX	XXX	XXX
EBITDA Margin	5%	XXX	2%	XXX	XXX	XXX
EBITDA Growth	12%	XXX	-34%	XXX	XXX	XXX
Rule of 40	22%	XXX	12%	XXX	XXX	XXX
Bessemer Rule of X	XXX	XXX	32%	XXX	XXX	XXX
Revenue per Employee	XXX	XXX	$0.4M	XXX	XXX	XXX
Opex per Employee	XXX	XXX	$0.2M	XXX	XXX	XXX
S&M Expenses to Revenue	XXX	XXX	11%	XXX	XXX	XXX
G&A Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
R&D Expenses to Revenue	XXX	XXX	n/a	XXX	XXX	XXX
Opex to Revenue	XXX	XXX	38%	XXX	XXX	XXX

Valuation data powered by FactSet, Inc. and Morningstar, Inc.

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