NEL.OL
Nel ASA
OsloNOKEQUITY
Industrials
DELAYED
Last price
2.13
▼ 0.02 (0.93%)
MARKET · —
Price
Too many bars for candle bodies at this width — showing high/low range per bar. Zoom in or pick a shorter range.
Open
2.14
Prev close
2.15
Day high
2.15
Day low
2.12
Volume
971.34K
Market cap
$3.91B
P/E (TTM)
—
52W range
1.92 – 3.96
Insider net activity
Net shares
0
Net selling
Buy transactions
0
0 shares
Sell transactions
0
—
Net transactions
0
Buys less sells
Sell : buy shares
—
Not enough filings
Insider-held shares
180.77M
Total on file
Unusual options activity
Nothing crossed the thresholds in the expiries we scanned.
That is the normal state — most contracts trade well inside their existing open interest.
That is the normal state — most contracts trade well inside their existing open interest.
Contracts trading at or above their open interest, ranked by notional and where the print landed.
Options analytics
Put / call volume
—
—
Put / call open interest
—
Positioning, not flow
Max pain
—
—
ATM implied vol
—
Nearest strike to spot
Skew (10% OTM)
—
—
Call volume
0
Contracts, this expiry
Put volume
0
Contracts, this expiry
Heaviest call OI
—
—
Heaviest put OI
—
—
Max pain is the strike at which the largest dollar value of open contracts expires worthless. It describes current positioning; it is not a forecast and it moves as open interest changes.
Put/call ratios, max pain, implied volatility skew and where open interest is concentrated.
Options chain
Calls
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Puts
| Strike | Last | Bid | Ask | Vol | OI | IV |
|---|---|---|---|---|---|---|
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
| 000.00 | 0.00 | 0.00 | 0.00 | 0 | 0 | 0.0% |
Every listed expiry, both sides of the book, with volume, open interest and implied volatility.
Trailing performance
Returnvs SPY
1W
-2.52%
-1.2%
1M
-3.63%
-7.4%
3M
-41.46%
-44.6%
6M
-0.14%
-11.2%
YTD
-4.79%
-17.1%
1Y
-14.66%
-34.7%
3Y
-82.23%
-156.4%
5Y
—
—
Price return only. Dividends are not reinvested, so total return on a dividend payer will be higher than shown.
Fundamentals
Market cap$3.91B
Enterprise value$2.80B
Revenue (TTM)$935.36M
Gross profit$533.66M
EBITDA$-396.28M
Net income$-1.29B
EPS (TTM)$-0.71
Free cash flow$-598.44M
Total cash$1.33B
Total debt$218.45M
Book value / share$1.96
Shares outstanding1.84B
Float1.67B
Short % of float—
Dividend yield—
Beta (5Y)1.46
Valuation & profitability ratios
Trailing P/E—
Forward P/E-10.85
PEG ratio4.46
Price / sales—
Price / book1.08
EV / revenue2.99
EV / EBITDA-7.06
Gross margin57.05%
Operating margin-133.78%
Profit margin-137.63%
Return on equity-30.33%
Return on assets-6.98%
Debt / equity6.07
Current ratio4.00
Fourteen ratios including P/E, PEG, EV/EBITDA, margins and return on equity.
Financial statements
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Total revenue | $963.11M | $1.39B | $1.35B | $914.85M | -30.7% |
| Operating revenue | $963.11M | $1.39B | $1.35B | $914.85M | -30.7% |
| Cost of revenue | $400.63M | $503.98M | $715.14M | $584.82M | -20.5% |
| Gross profit | $562.49M | $885.93M | $634.67M | $330.04M | -36.5% |
| Research & development | $42.16M | $41.59M | $43.26M | $73.94M | +1.4% |
| Selling, general & admin | $108.19M | $163.60M | $139.04M | $142.00M | -33.9% |
| Total operating expense | $1.25B | $1.38B | $1.15B | $1.34B | -9.2% |
| Operating income | -$687.33M | -$489.88M | -$516.48M | -$1.01B | -40.3% |
| Net interest income | $87.10M | $114.33M | $157.39M | $65.81M | -23.8% |
| Pre-tax income | -$1.30B | -$264.19M | -$574.27M | -$1.19B | -390.6% |
| Tax provision | -$31.04M | -$6.55M | -$8.16M | -$15.83M | -373.5% |
| Net income | -$1.27B | -$244.34M | -$855.20M | -$1.17B | -417.8% |
| Net income to common | -$1.27B | -$244.34M | -$855.20M | -$1.17B | -417.8% |
| Basic EPS | -0.70 | -0.15 | -0.52 | -0.76 | -366.7% |
| Diluted EPS | -0.70 | -0.15 | -0.52 | -0.76 | -366.7% |
| EBIT | -$1.28B | -$247.70M | -$559.37M | -$1.18B | -416.5% |
| EBITDA | -$189.60M | -$31.22M | -$335.55M | -$1.00B | -507.3% |
| Basic shares | 1.81B | 1.67B | 1.65B | 1.54B | +8.1% |
| Diluted shares | 1.81B | 1.67B | 1.65B | 1.54B | +8.1% |
| Line item | 2025 | 2024 | 2023 | 2022 | 2021 | YoY |
|---|---|---|---|---|---|---|
| Cash & equivalents | $1.61B | $1.86B | $3.35B | $3.13B | — | -13.2% |
| Cash & short-term investments | $1.62B | $1.86B | $3.37B | $3.67B | — | -12.6% |
| Accounts receivable | $240.91M | $700.68M | $812.41M | $460.74M | — | -65.6% |
| Inventory | $918.79M | $531.75M | $703.99M | $504.60M | — | +72.8% |
| Total current assets | $2.99B | $3.41B | $5.38B | $4.98B | — | -12.4% |
| Property, plant & equipment | $1.19B | $1.66B | $1.31B | $785.49M | — | -28.5% |
| Goodwill & intangibles | $584.45M | $1.03B | $1.02B | $934.46M | — | -43.2% |
| Total assets | $4.96B | $6.30B | $7.86B | $6.95B | — | -21.4% |
| Total current liabilities | $764.73M | $1.00B | $1.33B | $1.19B | — | -23.7% |
| Long-term debt | — | $0 | $22.46M | $22.43M | $23.19M | — |
| Total debt | $233.15M | $260.00M | $259.66M | $223.05M | — | -10.3% |
| Total liabilities | $1.02B | $1.33B | $1.66B | $1.50B | — | -22.9% |
| Retained earnings | -$4.51B | -$3.24B | -$3.00B | -$2.14B | — | -39.0% |
| Shareholder equity | $3.93B | $4.98B | $6.20B | $5.45B | — | -21.0% |
| Working capital | $2.22B | $2.41B | $4.05B | $3.79B | — | -7.6% |
| Net tangible assets | $3.35B | $3.95B | $5.18B | $4.52B | — | -15.2% |
| Shares issued | 1.84B | 1.67B | 1.67B | 1.56B | — | +10.0% |
| Line item | 2025 | 2024 | 2023 | 2022 | YoY |
|---|---|---|---|---|---|
| Net income | -$1.30B | -$250.90M | -$863.36M | -$1.19B | -416.6% |
| Depreciation & amortisation | $1.09B | $216.49M | $223.81M | $171.48M | +403.4% |
| Stock-based compensation | $2.01M | $2.72M | $4.03M | $8.34M | -26.0% |
| Change in working capital | -$71.43M | -$56.68M | -$393.80M | -$52.49M | -26.0% |
| Operating cash flow | -$252.79M | -$241.58M | -$669.67M | -$690.58M | -4.6% |
| Capital expenditure | -$290.41M | -$646.58M | -$739.83M | -$278.74M | +55.1% |
| Investing cash flow | -$305.38M | -$581.91M | -$646.81M | -$403.09M | +47.5% |
| Share buybacks | — | -$625.42M | $0 | — | — |
| Dividends paid | — | -$625.42M | — | — | — |
| Financing cash flow | $303.10M | -$665.99M | $1.54B | $1.49B | +145.5% |
| Free cash flow | -$543.20M | -$888.16M | -$1.41B | -$969.32M | +38.8% |
| End cash position | $1.62B | $1.88B | $3.36B | $3.14B | -13.8% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-06-30 | 2025-03-31 | YoY |
|---|---|---|---|---|---|---|
| Total revenue | $153.41M | $148.10M | $330.48M | $173.92M | $155.34M | +3.6% |
| Operating revenue | $153.41M | $148.10M | $330.48M | $173.92M | $155.34M | +3.6% |
| Cost of revenue | $70.48M | $53.50M | $137.42M | $75.65M | $54.94M | +31.7% |
| Gross profit | $82.93M | $94.60M | $193.06M | $98.27M | $100.40M | -12.3% |
| Total operating expense | $316.46M | $248.59M | $1.14B | $292.66M | $307.05M | +27.3% |
| Operating income | -$233.53M | -$153.99M | -$950.26M | -$194.39M | -$206.65M | -51.7% |
| Net interest income | $15.00M | $6.52M | $23.00M | $24.00M | $2.85M | +129.9% |
| Pre-tax income | -$188.57M | -$143.72M | -$898.17M | -$131.75M | -$180.50M | -31.2% |
| Tax provision | $0 | $0 | -$27.82M | -$1.05M | -$1.13M | — |
| Net income | -$188.57M | -$143.72M | -$870.35M | -$130.70M | -$179.36M | -31.2% |
| Basic EPS | -0.10 | -0.08 | -0.47 | -0.07 | -0.10 | -25.0% |
| Diluted EPS | -0.10 | -0.08 | -0.47 | -0.07 | -0.10 | -25.0% |
| EBIT | -$184.57M | -$131.21M | -$894.17M | -$127.75M | -$159.99M | -40.7% |
| EBITDA | -$134.69M | -$80.49M | -$10.64M | -$61.20M | -$87.90M | -67.3% |
| Basic shares | 1.84B | 1.84B | 1.84B | 1.84B | 1.71B | 0.0% |
| Diluted shares | 1.84B | 1.84B | 1.84B | 1.84B | 1.71B | 0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | YoY |
|---|---|---|---|---|---|---|---|
| Cash & equivalents | $1.33B | $1.44B | $1.61B | $1.93B | $2.06B | — | -7.9% |
| Cash & short-term investments | $1.33B | $1.44B | $1.62B | $1.93B | $2.06B | — | -7.9% |
| Accounts receivable | $226.92M | $198.68M | $240.91M | $203.36M | $213.83M | — | +14.2% |
| Inventory | $889.50M | $905.10M | $918.79M | $905.48M | $890.21M | — | -1.7% |
| Total current assets | $2.66B | $2.75B | $2.99B | $3.36B | $3.50B | — | -3.2% |
| Property, plant & equipment | $1.16B | $1.16B | $1.19B | $1.59B | $1.61B | — | -0.2% |
| Goodwill & intangibles | $631.58M | $593.84M | $584.45M | $975.13M | $996.84M | — | +6.4% |
| Total assets | $4.64B | $4.65B | $4.96B | $6.15B | $6.33B | — | -0.3% |
| Total current liabilities | $666.27M | $623.33M | $764.73M | $948.77M | $957.99M | — | +6.9% |
| Long-term debt | — | — | — | — | $0 | $0 | — |
| Total debt | $218.45M | $225.18M | $233.15M | $248.18M | $257.78M | — | -3.0% |
| Total liabilities | $1.04B | $882.83M | $1.02B | $1.26B | $1.28B | — | +17.6% |
| Retained earnings | -$4.77B | -$4.58B | -$4.51B | -$3.48B | -$3.35B | — | -4.1% |
| Shareholder equity | $3.60B | $3.77B | $3.93B | $4.89B | $5.06B | — | -4.5% |
| Working capital | $2.00B | $2.13B | $2.22B | $2.41B | $2.54B | — | -6.1% |
| Net tangible assets | $2.97B | $3.18B | $3.35B | $3.91B | $4.06B | — | -6.5% |
| Shares issued | 1.84B | 1.84B | 1.84B | 1.84B | 1.84B | — | -0.0% |
| Line item | 2026-06-30 | 2026-03-31 | 2025-12-31 | 2025-06-30 | 2025-03-31 | 2024-12-31 | YoY |
|---|---|---|---|---|---|---|---|
| Net income | -$188.57M | -$143.72M | -$898.17M | -$131.75M | -$180.50M | — | -31.2% |
| Depreciation & amortisation | $49.88M | $50.72M | $883.53M | $66.55M | $72.09M | — | -1.7% |
| Change in working capital | -$59.64M | -$58.65M | -$28.46M | $16.47M | $95.54M | — | -1.7% |
| Operating cash flow | $1.67M | -$165.23M | -$9.88M | -$53.05M | -$57.92M | — | +101.0% |
| Capital expenditure | -$75.10M | -$47.89M | -$93.74M | -$68.25M | -$59.73M | — | -56.8% |
| Investing cash flow | -$108.57M | -$832.00K | -$118.07M | -$65.92M | -$93.64M | — | -12,949.5% |
| Share buybacks | — | — | $0 | $0 | $0 | $0 | — |
| Financing cash flow | -$11.09M | -$11.29M | -$11.54M | -$12.10M | $338.29M | — | +1.8% |
| Free cash flow | -$73.42M | -$213.12M | -$103.62M | -$121.30M | -$117.65M | — | +65.5% |
| End cash position | $1.33B | $1.44B | $1.62B | $1.93B | $2.06B | — | -7.9% |
Earnings
Reported vs expected · EPS
| Quarter | Est. | Actual | Surprise |
|---|---|---|---|
| Jun 2026 | -0.11 | -0.06 | +41.4% |
| Mar 2026 | -0.07 | -0.08 | -23.1% |
| Dec 2025 | -0.07 | -0.47 | -576.1% |
| Sep 2025 | -0.08 | -0.05 | +40.2% |
Forward consensus
| Period | EPS | Analysts | Revenue | Growth |
|---|---|---|---|---|
| Current quarter | -0.08 | 1 | $197.67M | -43.4% |
| Next quarter | -0.07 | 1 | $229.84M | -36.3% |
| Current year | -0.32 | 5 | $760.17M | -30.9% |
| Next year | -0.20 | 7 | $1.39B | +82.7% |
Analyst targets & ownership
Mean target$2.08
High target$4.20
Low target$1.00
Implied upside-1.96%
Analyst count12
ConsensusNONE
Strong buy / Buy0 / 0
Hold7
Sell / Strong sell7 / 0
Held by insiders9.84%
Held by institutions10.02%
Institutions holding41
Price targets, consensus spread, insider and institutional ownership.
Rating changes
| Date | Firm | Action | From | To |
|---|---|---|---|---|
| Feb 24, 21 | JP Morgan | INITIATED | — | Neutral |
Moving averages & technicals
SMA 10
2.17
-2.12% from price
SMA 20
2.16
-1.60% from price
SMA 50
2.25
-5.48% from price
SMA 100
2.52
-15.66% from price
SMA 200
2.38
-10.81% from price
EMA 12
2.15
-1.36% from price
EMA 26
2.19
-3.09% from price
EMA 50
2.29
-7.19% from price
RSI (14)
41.5
Neutral
MACD (12,26,9)
-0.04
Hist 0.01
ATR (14)
0.06
2.66% of price
Realised vol 30D
24.3%
Annualised
Bollinger upper
2.24
20, 2σ
Bollinger lower
2.08
20, 2σ
50 / 200 cross
Death
2.25 vs 2.38
Trend bias
Below 200
-10.81%
Risk profile
Beta vs SPY
0.72
Less volatile than market
Correlation to SPY
0.15
Largely independent
Realised vol 30D
24.3%
Annualised
Market vol 1Y
12.9%
SPY, annualised
Max drawdown 1Y
-45.6%
Peak to trough
Max drawdown 5Y
-90.3%
Peak to trough
ATR 14
0.06
2.66% of price
Beta (reported)
1.46
5Y monthly, from filing
Dividends & splits
Forward rate—
Forward yield—
5-year avg yield—
Payout ratio0.00%
Ex-dividend date—
Next pay date—
Last split1:10
Split dateAug 16, 2013
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PRIVATE STRATEGY · BY QUALIFICATION
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