Zelluna ASA (OSTO:ULTIO) EV-to-EBIT: -4.84 (As of Aug. 03, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Reviewed by: Charlie Tian Charlie Tian
Charlie Tian
Charlie Tian
Founder & CEO of GuruFocus
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.

OSTO:ULTIO Zelluna ASA OSTO:ULTIO
29 GF Score
Price kr21.95
! 2 Warning Signs
View Full Analysis

What is Zelluna ASA EV-to-EBIT?

Zelluna ASA OSTO:ULTIO 29 EV-to-EBIT is -4.84 as of Aug. 03, 2026. GuruFocus rates OSTO:ULTIO with a GF Score™ of 29/100. The stock has 2 warning signs investors should review. Among 387 Biotechnology companies, Zelluna ASA ranks worse than 258397.67% on this metric.

EV-to-EBIT is calculated as Enterprise Value divided by its EBIT. As of today, Zelluna ASA's Enterprise Value is kr633.41 Mil. Zelluna ASA's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was kr-130.90 Mil. Therefore, Zelluna ASA's EV-to-EBIT for today is -4.84.

The historical rank and industry rank for Zelluna ASA's EV-to-EBIT or its related term are showing as below:

OSTO:ULTIo' s EV-to-EBIT Range Over the Past 10 Years
Min: -4.83   Med: 0   Max: 0
Current: -4.83

OSTO:ULTIo's EV-to-EBIT is ranked worse than
100% of 387 companies
in the Biotechnology industry
Industry Median: 12.63 vs OSTO:ULTIo: -4.83

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %. Zelluna ASA's Enterprise Value for the quarter that ended in Mar. 2026 was kr527.64 Mil. Zelluna ASA's EBIT for the trailing twelve months (TTM) ended in Mar. 2026 was kr-130.90 Mil. Zelluna ASA's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 was -24.81%.


Zelluna ASA  (OSTO:ULTIo) EV-to-EBIT Explanation

This is a more accurate valuation of companies' operation because it considers the debt and cash on its balance sheet, and non-operating items such as interest payment, tax, and one-time items are not included in the Operating Income.

Joel Greenblatt calls the inversion of this ratio Earnings Yield (Joel Greenblatt) %.

Zelluna ASA's Earnings Yield (Joel Greenblatt) % for the quarter that ended in Mar. 2026 is calculated as:

Earnings Yield (Joel Greenblatt) % (Q: Mar. 2026 ) =EBIT / Enterprise Value (Q: Mar. 2026 )
=-130.899/527.6355
=-24.81 %

Zelluna ASA's Enterprise Value for the quarter that ended in Mar. 2026 was kr527.64 Mil.
Zelluna ASA's 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 kr-130.90 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.


Zelluna ASA EV-to-EBIT Related Terms


Zelluna ASA EV-to-EBIT Historical Data

* Premium members only.

The historical data trend for Zelluna ASA's EV-to-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.

Zelluna ASA EV-to-EBIT Chart

Zelluna ASA Annual Data
Trend Dec16 Dec17 Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
EV-to-EBIT
Get a 7-Day Free Trial Premium Member Only Premium Member Only -20.07 -18.32 -18.37 0.22 -2.49

Zelluna ASA Quarterly Data
Jun21 Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26
EV-to-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 -2.46 -1.90 -1.56 -2.49 -3.39

OSTO:ULTIO vs VRTX, REGN, RVMD: EV-to-EBIT Comparison

For the Biotechnology subindustry, Zelluna 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.


Zelluna ASA EV-to-EBIT vs Biotechnology Industry

For the Biotechnology industry and Healthcare sector, Zelluna ASA's EV-to-EBIT distribution charts can be found below:

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


OSTO:ULTIO
29GF Score
Zelluna ASA OSTO:ULTIO
EV-to-EBIT is just one metric. See GF Score™, valuation, warning signs, and more.
View Full Analysis

Zelluna ASA EV-to-EBIT Calculation

Zelluna ASA's EV-to-EBIT for today is calculated as:

EV-to-EBIT=Enterprise Value (Today)/EBIT (TTM)
=633.408/-130.899
=-4.84

Zelluna ASA's current Enterprise Value is kr633.41 Mil.
Zelluna ASA's 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 kr-130.90 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 EV-to-EBIT →
What does a EV-to-EBIT of -4.84 mean?
Zelluna ASA (OSTO:ULTIO) has a EV-to-EBIT of -4.84 as of Aug. 03, 2026. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Zelluna ASA and its competitors. According to the industry distribution chart, Zelluna ASA ranks #999999 out of 387 companies in the Biotechnology industry.
Is Zelluna ASA's EV-to-EBIT too high?
Zelluna ASA's current EV-to-EBIT is -4.84. Based on the distribution chart, Zelluna ASA ranks #999999 out of 387 companies in the Biotechnology industry, which is in the bottom quartile relative to peers. Overall, Zelluna ASA has a GF Score™ of 29/100, reflecting its overall financial health beyond just this single metric.
How does Zelluna ASA's EV-to-EBIT compare to VRTX and REGN?
According to the Biotechnology industry distribution chart, Zelluna ASA ranks #999999 out of 387 companies for EV-to-EBIT. This places Zelluna ASA in the lower half of its industry. The industry median EV-to-EBIT is 12.63. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good EV-to-EBIT for a Biotechnology company?
The median EV-to-EBIT among Biotechnology companies is 12.63, based on 387 companies in the industry. Companies in the top quartile (top 25%) have a EV-to-EBIT significantly above this median, while those in the bottom quartile fall well below. However, EV-to-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 EV-to-EBIT mean?
A high EV-to-EBIT can signal that a stock is expensive relative to its fundamentals. EV to EBIT ratio is the inverse of Joel Greenblatt's earnings yield definition. View historical data on Zelluna ASA and its competitors. For the Biotechnology industry, the median EV-to-EBIT is 12.63 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Zelluna ASA's current EV-to-EBIT is -4.84. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Zelluna ASA stock overvalued right now?
Zelluna ASA (OSTO:ULTIO) has a current EV-to-EBIT of -4.84. The current EV-to-EBIT is -4.84. Zelluna ASA's overall GF Score™ is 29/100 with 2 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is EV-to-EBIT calculated?
EV-to-EBIT is calculated from a company's financial statements. For Zelluna ASA (OSTO:ULTIO), the current EV-to-EBIT is -4.84 as of Aug. 03, 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.

Zelluna ASA Business Description

Other Exchanges ZLNA:Norway7UM0:Germany
Address Ullernchausseen 64, Oslo Cancer Cluster Innovation Park, Oslo, NOR, 0379
Zelluna ASA is a biotechnology company established to eliminate solid cancers by unleashing the powerful elements of the immune system through pioneering the development of T cell receptor (TCR) guided natural killer (NK) cell therapies (TCR-NK). Its TCR-NK products are composed of healthy donor-derived NK cells that are genetically engineered to express a tumour-specific TCR that enable the TCR-NK cells to identify and eliminate cancer cells in the body of the patient. Its programme ZI-MA4-1, the first MAGE-A4-targeting TCR-NK therapy for solid tumours with high unmet medical need. Its other programmes include ZI-KL1-1, and ZI-PR-1.
29GF Score

Get the complete analysis for OSTO:ULTIO

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

kr21.95
Price