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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)
Tekna Holding ASA246.16m-59.05m865.16m164.00--4.24--3.51-0.4276-0.42761.740.89760.52291.1324.791,330,606.00-12.54---18.79--48.10---23.99--0.4545-4.040.6671---9.10--23.48------
SaltX Technology Holding AB (publ)45.58m-62.26m968.89m23.00--5.48--21.26-0.3024-0.30240.2460.72050.2311--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 Oyj2.21bn138.80m980.25m696.007.361.604.890.4441.961.9631.318.981.644.346.92250,081.7010.31-0.306822.78-0.76251.8047.766.29-0.21521.41--0.0477--40.696.22797.119.52-3.35-16.72
Magnora ASA52.50m-12.60m1.40bn9.00--3.741,560.4926.75-0.1985-0.19850.79515.700.096--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----
Hexagon Composites ASA3.64bn-1.76bn2.06bn1.02k--0.7586--0.5644-8.08-8.0916.2210.760.58211.537.683,576,963.00-28.07-7.44-32.52-10.2948.5947.80-48.23-12.080.8989-0.0150.3789--7.557.32-5.62--7.36--
Berner Industrier AB1.06bn76.98m2.08bn225.0028.716.6517.621.953.813.8152.8316.461.507.038.014,445,840.0010.856.3718.0113.1841.9539.857.234.480.9108--0.342338.883.907.4895.6018.30-11.8010.76
FM Mattsson AB (publ)2.07bn126.71m2.58bn555.0023.822.7411.131.252.812.8145.8824.481.062.45--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 AB3.62bn189.50m3.24bn1.34k22.442.148.790.89413.013.0157.2831.610.90275.314.722,535,022.004.725.886.208.0721.9321.745.236.211.173.970.0023.092.638.7277.90-1.82---4.36
Nel ASA1.05bn-454.10m3.82bn354.00--0.7977--3.65-0.2577-0.25770.59422.610.17380.59262.172,562,805.00-7.53-7.04-8.79-8.1759.8444.85-43.32-44.232.80--0.0476--2.9719.5354.49--41.75--
Nilfisk Holding A/S11.43bn-151.04m5.68bn4.53k--1.819.980.4973-3.69-3.69279.1876.871.172.636.651,582,035.00-1.543.85-2.235.8642.2440.89-1.323.220.88313.120.54780.00-0.55151.240.283332.401.21--
Troax Group AB (publ)2.95bn151.86m6.10bn1.13k40.183.0515.812.072.382.3846.2131.320.72015.793.972,449,262.003.7010.064.3211.9037.4236.625.1411.712.066.02--58.71-5.809.91-56.86-10.29--3.71
Momentum Group AB3.25bn190.56m6.81bn903.0035.418.3118.712.103.623.6261.7015.431.364.026.563,770,087.008.41--13.26--48.23--6.16--0.79329.530.493--25.02--4.71------
Alligo AB10.09bn266.15m7.24bn2.51k27.191.837.450.71694.964.96188.6873.571.002.227.343,758,922.002.70--3.53--40.85--2.69--0.87434.280.5016---0.0214---44.20------
Data as of Feb 16 2026. Currency figures normalised to Nel ASA's reporting currency: Norwegian Krone NOK

Institutional shareholders

8.85%Per cent of shares held by top holders
HolderShares% Held
The Vanguard Group, Inc.as of 04 Feb 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 06 Feb 202614.19m0.77%
green benefit AGas of 30 Jan 202611.70m0.64%
Global X Management Co. LLCas of 05 Feb 202610.87m0.59%
Invesco Capital Management LLCas of 06 Feb 20268.84m0.48%
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 05 Feb 20264.26m0.23%
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Data from 31 Dec 2024 - 13 Feb 2026Source: FactSet Research Systems Inc.
Data Provided by LSEG
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