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Employees: 346
Size Nel (NEL.OL) is a Norway Industrials company (Industrial Machinery) with a market value of $393M, the 101st largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 1.98 on 6 Nov 2026.
Performance Over six months the shares fell 33.6%, against -27.3% for the median peer and +2.7% for the Norway market (cap-weighted) — 9th lowest of 21 in its peer set.
Growth Revenue fell 29.1% over the last twelve months (peer median +5.9%); the operating margin is -190.8% (peer median 5.8%).
Valuation It trades at 1.06× book value against a peer median of 1.75× (7th cheapest of 21).
Price implies The share price implies a return on equity of about 10.7%; Nel delivers -32.6%, so the price asks more than the business earns today.
Next results Next results expected around 19 Feb 2027 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 744M | NOK 963M | NOK 1.40B | NOK 1.35B | NOK 915M |
| Revenue growth | — | -31% | +4% | +47% | — |
| Gross profit | -NOK 1.09B | -NOK 297M | NOK 29.9M | -NOK 85.7M | -NOK 506M |
| EBITDA | -NOK 384M | -NOK 275M | -NOK 136M | -NOK 210M | -NOK 739M |
| Net income | -NOK 1.34B | -NOK 1.27B | -NOK 389M | -NOK 855M | -NOK 1.17B |
| Free cash flow | -NOK 509M | -NOK 415M | -NOK 792M | -NOK 1.26B | -NOK 862M |
| Capital expenditure | NOK 265M | NOK 290M | NOK 680M | NOK 740M | NOK 279M |
| Total debt | NOK 209M | NOK 233M | NOK 260M | NOK 260M | NOK 223M |
The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.
Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.
| Measure | NEL.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.2% | -15.5% | highest of 21 |
| 6-month return | -33.6% | -27.3% | 9th lowest of 21 |
| Return on equity | -32.6% | 7.3% | lowest of 21 |
| Price / book | 1.06× | 1.75× | 7th cheapest of 21 |
| ROE the price implies | 10.7% | 12.9% | 10th least demanding of 21 |
| ROE delivered | -32.6% | 6.9% | lowest of 20 |
| Company | Market | Market cap | 6M return | Revenue growth | ROE | Price / book | Implied ROE | Delivered ROE |
|---|---|---|---|---|---|---|---|---|
| Nel NEL.OL | Norway | $393M | -34% | -29% | -33% | 1.06× | 10.7% | -32.6% |
| Shanghai Karon Eco-Valve Manufacturing 301151.SZ | China | $393M | -12% | -6% | 3% | 1.29× | 10.0% | 2.5% |
| Bluesword Intelligent Technology 688557.SS | China | $394M | -26% | +5% | 7% | 2.09× | 14.7% | 6.8% |
| SNT 036530.KS | South Korea | $392M | -34% | +2% | 10% | 0.44× | 4.1% | n/a |
| WONIK QnC 074600.KS | South Korea | $395M | -46% | +11% | 10% | 1.00× | 8.1% | 9.6% |
| Zoje Resources Investment 002021.SZ | China | $391M | -31% | -2% | -2% | 4.25× | 27.0% | -1.9% |
| ITAB Group AB (publ) ITAB.ST | Sweden | $395M | +8% | +16% | 1% | 0.89× | 7.6% | 0.8% |
| Enplas 6961.T | Japan | $397M | -59% | +25% | 11% | 0.97× | 13.6% | 11.0% |
| Changzhou Langbo Sealing Technologies 603655.SS | China | $388M | -44% | +3% | 8% | 4.55× | 42.9% | 8.1% |
| Tederic Machinery 603289.SS | China | $398M | -22% | -5% | 1% | 1.84× | 12.2% | 0.9% |
| Guangdong Jinming Machinery 300281.SZ | China | $388M | -17% | -4% | 0% | 2.08× | 16.6% | -0.2% |
| Shen Mao Technology 3305.TW | Taiwan | $387M | -18% | +45% | 15% | 2.10× | 16.7% | 14.8% |
| Philoptics 161580.KS | South Korea | $399M | -52% | -80% | -15% | 5.12× | 32.9% | -15.2% |
| CLOBOT 466100.KS | South Korea | $385M | -65% | +32% | -5% | 7.83× | 39.1% | -4.5% |
| Nanjing Inform Storage Equipment (Group) 603066.SS | China | $384M | -23% | +17% | 7% | 1.72× | 6.2% | 6.9% |
| Cscec Scimee Sci. & Tech 300425.SZ | China | $384M | -25% | -5% | 0% | 1.09× | 6.1% | 0.3% |
| Jiangxi Avonflow HVAC Tech 301575.SZ | China | $383M | -37% | +18% | 8% | 1.77× | 14.4% | 7.8% |
| TK Corporation 023160.KS | South Korea | $403M | -52% | +25% | 19% | 0.80× | 5.0% | 19.3% |
| Torishima Pump Mfg.Co 6363.T | Japan | $403M | -23% | +1% | 13% | 1.05× | 7.7% | 13.1% |
| Guangdong Zhengye Technology 300410.SZ | China | $382M | -28% | +32% | 16% | 9.19× | 95.9% | 16.2% |
| Maruzen 5982.T | Japan | $382M | +2% | +6% | 11% | 1.12× | 4.6% | 10.5% |