NEL ASA (FRA:D7GA) EBIT: €-105.28 Mil (TTM As of Mar. 2026)


FRA:D7GA NEL ASA FRA:D7GA
71 GF Score
Price €6.10
GF Value €6.80
Valuation Modestly Undervalued
! 5 Warning Signs
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What is NEL ASA EBIT?

NEL ASA FRA:D7GA 71 EBIT is €-105.28 Mil as of Mar. 2026. GuruFocus rates FRA:D7GA with a GF Score™ of 71/100 and a GF Value™ of €6.80 (Modestly Undervalued). The stock has 5 warning signs investors should review.

NEL ASA's earnings before interest and taxes (EBIT) for the three months ended in Mar. 2026 was €-11.75 Mil. Its earnings before interest and taxes (EBIT) for the trailing twelve months (TTM) ended in Mar. 2026 was €-105.28 Mil.

EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition. NEL ASA's annualized ROC % for the quarter that ended in Mar. 2026 was -19.98%. NEL ASA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -30.11%.

EBIT is also linked to Joel Greenblatt's definition of earnings yield. NEL ASA's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -40.07%.


NEL ASA  (FRA:D7GA) EBIT Explanation

1. EBIT or Operating Income is linked to Return on Capital for both regular definition and Joel Greenblatt's definition.

NEL ASA's annualized ROC % for the quarter that ended in Mar. 2026 is calculated as:

ROC % (Q: Mar. 2026 )
=NOPAT/Average Invested Capital
=Operating Income * ( 1 - Tax Rate % )/( (Invested Capital (Q: Dec. 2025 ) + Invested Capital (Q: Mar. 2026 ))/ count )
=-55.164 * ( 1 - 0% )/( (268.288 + 283.862)/ 2 )
=-55.164/276.075
=-19.98 %

where

Invested Capital(Q: Dec. 2025 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=418.836 - 13.477 - ( 137.071 - max(0, 64.617 - 252.376+137.071))
=268.288

Invested Capital(Q: Mar. 2026 )
=Total Assets - Accounts Payable & Accrued Expense - Excess Cash
=Total Assets - Accounts Payable & Accrued Expense - ( Cash, Cash Equivalents, Marketable Securities - max(0, Total Current Liabilities - Total Current Assets+Cash, Cash Equivalents, Marketable Securities))
=416.791 - 3.733 - ( 129.196 - max(0, 55.824 - 246.387+129.196))
=283.862

Note: The Operating Income data used here is four times the quarterly (Mar. 2026) data.

2. Joel Greenblatt's definition of Return on Capital:

NEL ASA's annualized ROC (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

ROC (Joel Greenblatt) %(Q: Mar. 2026 )
=EBIT/Average of (Net fixed Assets + Net Working Capital)
=EBIT/Average of (Property, Plant and Equipment+Net Working Capital)
     Q: Dec. 2025  Q: Mar. 2026
=EBIT/( ( (Property, Plant and Equipment + Net Working Capital) + (Property, Plant and Equipment + Net Working Capital) )/ count )
=-47.004/( ( (100.571 + max(48.639, 0)) + (103.843 + max(59.164, 0)) )/ 2 )
=-47.004/( ( 149.21 + 163.007 )/ 2 )
=-47.004/156.1085
=-30.11 %

where Working Capital is:

Working Capital(Q: Dec. 2025 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(20.356 + 77.635 + 11.635) - (13.477 + 0 + 47.51)
=48.639

Working Capital(Q: Mar. 2026 )
=(Accounts Receivable + Total Inventories + Other Current Assets) - (Accounts Payable & Accrued Expense + Defer. Rev. + Other Current Liabilities)
=(17.793 + 81.059 + 12.392) - (3.733 + 0 + 48.347)
=59.164

When net working capital is negative, 0 is used.

Note: The EBIT data used here is four times the quarterly (Mar. 2026) EBIT data.

3. It is also linked to Joel Greenblatt's definition of Earnings Yield:

NEL ASA's Earnings Yield (Joel Greenblatt) % for today is calculated as:

Earnings Yield (Joel Greenblatt) %=EBIT (TTM)/Enterprise Value (Q: Mar. 2026 )
=-105.278/262.747
=-40.07 %

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.


NEL ASA EBIT Related Terms


NEL ASA EBIT Historical Data

* Premium members only.

The historical data trend for NEL ASA's EBIT can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

NEL ASA EBIT Chart

NEL ASA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -165.53 -112.35 -48.62 -21.08 -108.11

NEL ASA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EBIT Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only -13.86 -11.02 -7.00 -75.50 -11.75

FRA:D7GA vs GEV, ETN, PH: EBIT Comparison

For the Specialty Industrial Machinery subindustry, NEL ASA's EV-to-EBIT, along with its competitors' market caps and EV-to-EBIT data, can be viewed below:

* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.


NEL ASA EV-to-EBIT vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, NEL ASA's EV-to-EBIT distribution charts can be found below:

* The bar in red indicates where NEL ASA's EV-to-EBIT falls into.


FRA:D7GA
71GF Score
NEL ASA FRA:D7GA
EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

NEL ASA EBIT Calculation

EBIT, sometimes also called Earnings Before Interest and Taxes, is a measure of a firm's profit that includes all expenses except interest and income tax expenses. It is the difference between operating revenues and operating expenses. When a firm does not have non-operating income, then Operating Income is sometimes used as a synonym for EBIT and operating profit.

EBIT for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-105.28 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about EBIT →
What does a EBIT of €-105.28 Mil mean?
NEL ASA (FRA:D7GA) has a EBIT of €-105.28 Mil as of Mar. 2026. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on NEL ASA.
Is NEL ASA's EBIT too high?
NEL ASA's current EBIT is €-105.28 Mil. Overall, NEL ASA has a GF Score™ of 71/100 and is considered Modestly Undervalued, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's EBIT compare to GEV and ETN?
NEL ASA's EBIT of €-105.28 Mil can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EBIT for an Industrial Products company?
A good EBIT depends on the Industrial Products industry context. However, EBIT should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high EBIT mean?
A high EBIT can signal that a stock is expensive relative to its fundamentals. Earnings before interest and taxes is the difference between operating revenue and operating expenses. View historical data on NEL ASA. NEL ASA's current EBIT is €-105.28 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NEL ASA stock overvalued right now?
Based on GuruFocus' analysis, NEL ASA (FRA:D7GA) is currently considered Modestly Undervalued. The stock's GF Value™ is €6.80, compared to a current price of €6.10 — trading 10.3% below its estimated fair value. The current EBIT is €-105.28 Mil. NEL ASA's overall GF Score™ is 71/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EBIT calculated?
EBIT is calculated from a company's financial statements. For NEL ASA (FRA:D7GA), the current EBIT is €-105.28 Mil as of Mar. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is NEL ASA (FRA:D7GA) Overvalued in 2026?

Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued. The current stock price of €6.10 is trading 10.3% below its estimated GF Value™ of €6.80. GuruFocus considers NEL ASA to be Modestly Undervalued.

Key valuation signals for FRA:D7GA:

  • EBIT: €-105.28 Mil
  • GF Value™: €6.80 vs. price of €6.10 (10.3% below fair value)
  • GF Score™: 71/100 with 5 warning signs

No single metric tells the full story. See the FRA:D7GA stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.


NEL ASA Business Description

Address Karenslyst alle 49, Oslo, NOR, N-0279
NEL ASA is a hydrogen company delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser is a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
71GF Score

Get the complete analysis for FRA:D7GA

EBIT is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€6.10
Price
€6.80
GF Value