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About the company

Nel ASA is a Norway-based hydrogen company that delivers solutions to produce, store and distribute hydrogen from renewable energy. The Company specializes in electrolyser technology for production of renewable hydrogen, and hydrogen fueling equipment for road-going vehicles. The Company's business activities are divided into two operation segments: Nel Hydrogen Fueling and Nel Hydrogen Electrolyser. The Nel Hydrogen Fueling segment is a manufacturer of hydrogen fueling stations for Fuel Cell Electric Vehicles. Nel’s H2Station manufacturing plant is located in Herning, Denmark. The Nel Hydrogen Electrolyser segment is a global supplier of hydrogen production equipment based on both alkaline and proton exchange membrane (PEM) water electrolysis technology. Nel Hydrogen Electrolyser has production facilities in Heroya, Norway, and in Wallingford, USA.

  • Revenue in NOK (TTM)1.05bn
  • Net income in NOK-454.10m
  • Incorporated1998
  • Employees354.00
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Peer analysis

Key Information
CompanyRevenue (TTM)Net income (TTM)Market capEmployeesPrice/earnings (TTM)Price/book value (MRQ)Price/cash flow (TTM)Price/sales (TTM)EPS (excl. extraordinary items, TTM)EPS (incl. extraordinary items, TTM)Revenue per share (TTM)Book value per share (MRQ)Asset turnover (TTM)Inventory turnover (TTM)Receivables turnover (TTM)Revenues per employee (TTM)Return on avg assets (TTM)Return on avg assets (5 yr avg)Return on investment (TTM)Return on investment (5 yr avg)Gross margin (TTM)Gross margin
(5 yr avg)
Net profit margin (TTM)Net Profit margin
(5 yr avg)
Quick ratio (MRQ)Interest coverage (TTM)Total debt to capital (MRQ)Payout ratio
(5 yr avg)
Revenue
(YOY change %)
Revenue
(5 yr growth rate)
Net income
(YOY change %)
Net income
(5 yr growth rate)
Capital expenditure
(5 yr growth rate)
Dividend
(5 yr growth rate)
Otovo ASA585.55m-321.68m791.77m238.00--1.56--1.35-11.73-11.4021.289.550.7369385.0410.362,460,311.00-40.48-33.27-52.05-41.8228.8823.15-54.94-47.081.36-14.220.0811---38.4727.362.67--55.62--
Tekna Holding ASA252.97m-60.69m921.50m164.00--4.39--3.64-0.4394-0.43941.790.92240.52291.1324.791,367,399.00-12.54---18.79--48.10---23.99--0.4545-4.040.6671---9.10--23.48------
SaltX Technology Holding AB (publ)46.36m-63.34m994.36m23.00--5.52--21.45-0.3024-0.30240.2460.72050.2311--121.801,861,348.00-31.57-28.81-40.83-32.7886.44188.20-136.61-359.89---29.020.0135--53.61190.45-15.69--34.80--
Raute Oyj2.26bn142.27m1.02bn696.007.461.634.950.45021.961.9631.318.981.644.346.92250,081.7010.31-0.306822.78-0.76251.8047.766.29-0.21521.41--0.0477--40.696.22797.119.52-3.35-16.72
Magnora ASA52.50m-12.60m1.32bn9.00--3.511,461.8225.06-0.1985-0.19850.79515.700.096--8.335,833,334.00-4.6122.24-6.0827.53---11.36-48.00271.88---7.600.001718.60-80.99-43.9648.3268.92----
Berner Industrier AB1.07bn64.29m1.72bn227.0028.385.8116.371.613.143.1452.1515.311.456.397.464,609,327.008.715.4115.3911.6541.2139.216.023.820.8197--0.396343.112.116.44-18.80-0.5518-16.279.63
Hexagon Composites ASA3.64bn-1.76bn2.00bn1.02k--0.7372--0.5484-8.08-8.0916.2210.760.58211.537.683,576,963.00-28.07-7.44-32.52-10.2948.5947.80-48.23-12.080.8989-0.0150.3789--7.557.32-5.62--7.36--
FM Mattsson AB (publ)2.10bn128.90m2.64bn555.0023.892.7511.161.252.812.8145.8824.481.062.45--3,435,825.006.529.348.6712.8436.7936.946.138.421.24--0.0060.71-2.967.45-30.823.219.3711.38
XANO Industri AB3.70bn248.06m3.52bn1.32k18.652.298.140.95153.873.8757.4931.480.89085.494.182,420,079.005.986.527.929.0521.4821.986.716.791.264.390.0031.51-3.409.27-42.96-9.31-0.2049--
Nel ASA1.05bn-454.10m3.86bn354.00--0.8046--3.68-0.2577-0.25770.59422.610.17380.59262.172,562,805.00-7.53-7.04-8.79-8.1759.8444.85-43.32-44.232.80--0.0476--2.9719.5354.49--41.75--
Data as of Feb 06 2026. Currency figures normalised to Nel ASA's reporting currency: Norwegian Krone NOK

Institutional shareholders

8.79%Per cent of shares held by top holders
HolderShares% Held
The Vanguard Group, Inc.as of 07 Jan 202663.95m3.48%
Legal & General Investment Management Ltd.as of 31 Dec 202417.71m0.96%
Folketrygdfondetas of 31 Dec 202417.54m0.95%
Van Eck Associates Corp.as of 08 Jan 202613.77m0.75%
green benefit AGas of 30 Dec 202511.70m0.64%
Global X Management Co. LLCas of 08 Jan 202610.56m0.58%
Invesco Capital Management LLCas of 09 Jan 20268.60m0.47%
Montpensier Arbevel SASas of 31 Dec 20247.18m0.39%
Deutscher Sparkassen-und Giroverband eVas of 31 Dec 20246.52m0.35%
Global X Management Co. (UK) Ltd.as of 08 Jan 20264.17m0.23%
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Data from 31 Dec 2024 - 30 Jan 2026Source: FactSet Research Systems Inc.
Data Provided by LSEG
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