Norsk Hydro ASA (0Q11) fair value: what the stock is really worth
As of Oct 2, 2026: fair value of Norsk Hydro ASA NOK 29.76, price NOK 79.51, upside -62.6%, quality 66 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.
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Price vs Fair Value
White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Oct 3, 2026.
How to read this chart
60‑month range kr 15.34 – kr 118.53 · fair‑value band kr 29.76 – kr 29.93 · the kr 79.51 price screens above the kr 29.76 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 3, 2026.
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Norsk Hydro ASA engages in power production, bauxite extraction, alumina refining, aluminum smelting, recycling activities, and extruded solutions worldwide. The company operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments.
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Norsk Hydro ASA engages in power production, bauxite extraction, alumina refining, aluminum smelting, recycling activities, and extruded solutions worldwide. The company operates through Hydro Bauxite & Alumina, Hydro Aluminium Metal, Hydro Metal Markets, Hydro Extrusions, and Hydro Energy segments. The Hydro Bauxite & Alumina segment engages in bauxite mining activities, production of alumina, and related commercial activities, primarily the sale of alumina. The Hydro Aluminium Metal segment is involved in the primary aluminum production casting activities. This segment principally offers extrusion ingots, foundry alloys, and sheet and standard ingots. The Hydro Metal Markets segment sells products from the company's primary metal plants; operates recyclers; and trades in physical and financial metals. The Hydro Extrusions segment offers extrusion profiles, building systems, and precision tubing products for construction, automotive and heating, and ventilation and air conditioning sectors, as well as operates recycling facilities. The Hydro Energy segment engages in the trading and wholesale business in Brazil; energy sourcing operations; and operation of power stations in Norway, as well as renewable energy production, such as wind and solar. The company also provides extruded solutions. Norsk Hydro ASA was founded in 1905 and is headquartered in Oslo, Norway.
Stock analysis
Norsk Hydro ASA (0Q11) currently trades at kr 79.51, while our model-based Fair Value estimate is kr 29.76, 62.6% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the DCF Models group reads highest at a median of kr 122.45 per share, and 9 of the 23 models we run sit above the kr 79.51 price.
Bear case: the Earnings-Based group reads lowest at kr 8.08, and 14 of the 23 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 29.76 (bear) to kr 29.93 (bull), the price of kr 79.51 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 66/100 (solid quality), in the Basic Materials sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Norsk Hydro ASA reported revenue of 114B NOK in FY2020 versus 82.0B NOK in FY2016, a compound +8.7%/yr. Reported net income was 1.8B NOK in FY2020, compounding −26.7%/yr from FY2016.
Key figures
Market cap 151B NOK (≈ $15.7B) · P/S ratio 0.74 · Dividend yield 7.4% · Net margin 1.6% · Return on equity 9.4% · Return on assets (EBIT) 4.8% · Operating margin 27.8% · Revenue (TTM) 205B NOK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 33% below its 52-week high and 19% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Basic Materials peers we cover trades at 48% fair-value upside, at −63%, 0Q11 screens richer than that median.
Fair Value models
Bear kr 29.76Fair Value kr 29.76Bull kr 29.93
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Evidence ⓘEvidence = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.82/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Profit margin (trend) ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.
8.6% (2016) → 8.2% (2020)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: no share-count history
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Aluminum · 78 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score66 · Top 25%
Fair Value upside−62.9% · Bottom 25%
Profitability
Return on equity (TTM)9.4% · Below median
Return on assets12.7% · Top 25%
Net margin (TTM)4.8% · Above median
Operating margin (TTM)27.8% · Top 25%
Growth and dividend
Revenue growth6.4% · Below median
Dividend yield (TTM)7.4% · Top 25%
Balance sheet
Debt / equity0.33× · Above median
Valuation Multiplesvs Aluminum median · lower = cheaper
P/B0.21× · Cheapest 25%
P/S (TTM)0.08× · Cheapest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 25
FUTURE (revenue growth)32· sector 80
PAST (return on equity)38· sector 40
HEALTH (low debt)83· sector 93
DIVIDEND (yield)100· sector 40
VALUE 0: the price sits above our fair-value range.
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Is Norsk Hydro ASA (0Q11) overvalued or undervalued?
As of Oct 3, 2026, our model estimates a fair value of kr 29.76 versus a price of kr 79.51, about −63% upside (overvalued).
What is the fair value of 0Q11?
Our model-based fair value for Norsk Hydro ASA is kr 29.76 (as of Oct 3, 2026), built from audited fundamentals. The current price: kr 79.51.
What is the quality score of 0Q11?
Norsk Hydro ASA has a Quality Score of 66/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for Norsk Hydro ASA (0Q11)?
Our model-based price target is the fair value of kr 29.76 (as of Oct 3, 2026) from 23 valuation models. Cautious scenario kr 29.76, optimistic scenario kr 29.93. It is a calculation from audited fundamentals, not an analyst target.
What is the Norsk Hydro ASA stock forecast for 2026?
Our models put fair value at kr 29.76, about −63% upside versus a price of kr 79.51 (overvalued). Cautious scenario kr 29.76, optimistic scenario kr 29.93. The calculation is refreshed regularly with new filings.
What is the revenue of Norsk Hydro ASA (0Q11)?
Norsk Hydro ASA reported trailing-twelve-month revenue of about 205B NOK (latest available figure, as of Oct 3, 2026).
Does Norsk Hydro ASA pay a dividend?
Norsk Hydro ASA currently shows a dividend yield of about 7.40% relative to its recent price (as of Oct 3, 2026).
What is the intrinsic value of Norsk Hydro ASA (0Q11)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Norsk Hydro ASA it is kr 29.76 per share (as of Oct 3, 2026), against a price of kr 79.51. It is the blended result of 23 valuation models (cash flow, earnings, asset, dividend).
Is Norsk Hydro ASA stock overvalued or undervalued in 2026?
As of Oct 3, 2026, 0Q11 trades above its calculated fair value: price kr 79.51, fair value kr 29.76, a gap of about −63% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of 0Q11?
No. The price is what the market pays today (kr 79.51); the fair value is what the company's own numbers justify (kr 29.76). For Norsk Hydro ASA the two are kr 49.75 per share apart. That gap is exactly why we show both numbers side by side.
How much is Norsk Hydro ASA worth?
The market values Norsk Hydro ASA at about 151B NOK (market capitalisation, as of Oct 3, 2026). Per share that is kr 79.51; our models calculate a fair value of kr 29.76 per share.
What do the bullish and bearish scenarios say about 0Q11?
Our models span a range for Norsk Hydro ASA: cautious scenario kr 29.76, base kr 29.76, optimistic kr 29.93 per share (as of Oct 3, 2026, price kr 79.51). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Norsk Hydro ASA (0Q11)?
Balance-sheet figures for Norsk Hydro ASA (as of Oct 3, 2026): return on equity 9.4%, debt of 0.33 per unit of equity. They feed the Quality Score of 66/100, which measures business quality independently of the share price.
How far is 0Q11 from its 52-week high?
Norsk Hydro ASA trades at kr 79.51, about 33% below its 52-week high of kr 118.53 and 19% above the low of kr 67.07 (as of Oct 2, 2026). Distance from the high says nothing about value: that is what the fair value of kr 29.76 is for.
Which stocks are comparable to Norsk Hydro ASA?
From the same area (Basic Materials) we also value Shandong Hongqiao Aluminum Industry Holding, China Hongqiao Group, Aluminum Corporation, Hindalco Industries Limited, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is Norsk Hydro ASA stock attractive at the current price?
The data as of Oct 3, 2026: price kr 79.51, calculated fair value kr 29.76 (−63%), Quality Score 66/100, from 23 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of 0Q11 calculated?
We run Norsk Hydro ASA through 23 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 29.76, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 14.5 % above its aggregate fair value. Norsk Hydro ASA itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of Norsk Hydro ASA (0Q11)?
The closing price on Oct 2, 2026 was kr 79.51. Our model-based fair value is kr 29.76, about −63% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Norsk Hydro ASA right now?
The price sits above even our optimistic bull case (kr 29.93). The favourable scenario is already priced in. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid but not exceptional quality (66/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (kr 29.76 to kr 29.93), unusually little disagreement for a valuation.
Key figures of Norsk Hydro ASA
How large is the market capitalisation of Norsk Hydro ASA (0Q11)?
The market capitalisation of Norsk Hydro ASA is 151B NOK (≈ $15.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of Norsk Hydro ASA (0Q11)?
The price-to-sales ratio of Norsk Hydro ASA is 0.74 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What is the dividend yield of Norsk Hydro ASA (0Q11)?
The dividend yield of Norsk Hydro ASA is 7.4%. Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of Norsk Hydro ASA (0Q11)?
The net margin of Norsk Hydro ASA is 1.6% (fiscal year 2020). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of Norsk Hydro ASA (0Q11)?
The return on equity (ROE) of Norsk Hydro ASA is 9.4% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of Norsk Hydro ASA (0Q11)?
On an EBIT basis the return on assets of Norsk Hydro ASA is 4.8% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of Norsk Hydro ASA (0Q11)?
The operating margin of Norsk Hydro ASA is 27.8% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Norsk Hydro ASA (0Q11)?
Revenue at Norsk Hydro ASA is growing +6.4% versus a year earlier (3y avg +1.5%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at Norsk Hydro ASA (0Q11)?
Earnings per share at Norsk Hydro ASA are growing +179% versus a year earlier. How much earnings per share grew versus a year earlier.
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