Elkem ASA (ELK) Fair Value & Analysis
Basic Materials · NO · Market cap 11.4B NOK
Fair value as of: Jun 24, 2026
From 9 valuation models · updated 6 days ago
Fair value updated Jun 24, 2026 — revised from kr 5.48 to kr 32.18 (+487.2%) since Jun 23, 2026. Share price −0.8% over the past month.
Price vs Fair Value (12 months)
12‑month range kr 22.25 – kr 33.67 · fair‑value band kr 32.18 – kr 40.22 · the kr 31.58 price screens below the kr 32.18 fair value. As of Jun 24, 2026.
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Elkem ASA (ELK) currently trades at kr 31.58, while our model-based Fair Value estimate is kr 32.18 — implying the stock looks roughly 1.9% undervalued today. We read business quality at 95/100 (high quality), in the Basic Materials sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: medium) — always confirm before acting.
Over the trailing twelve months, Elkem ASA generated revenue of 16.3B NOK at a net margin of -2.6%. Revenue declined 5.4% year over year. It earns a return on equity of 1.7%. Net debt stands at 8.9B NOK. Fundamentals as of Jun 24, 2026
Key figures & financial health
More key figures
Figures from reported company fundamentals (EODHD) · as of Jun 24, 2026. TTM = trailing twelve months.
About the company
Elkem ASA engages in the provision of advanced material solutions worldwide. It operates through Silicones, Silicon Products, and Carbon Solutions segments. The company offers silicones polymers, including silicone oils, compounds, emulsions, grease, and resins, as well as chlorosilanes, heat cured rubber silicone, lower carbon and circular silicone materials, elastomer gels, liquid silicone rubber, and RTV-1 and RTV-2 silicones. It also provides silicon-based materials comprising silicon, silicon powder/micronized silicon, silica fume/ micro-silica, ferrosilicon, grain refiners, and specialties for technical ceramics. In addition, the company offers foundry alloys, such as preconditioners, recarburizers, conditioners, nodularizers, inserts, and inoculants; and carbon-based materials comprising carbon electrodes, synthetic graphite, furnace tapping materials, electrode paste, ramming paste, prebaked electrodes, and furnace lining materials, as well as polymer additives, boron carbid…
Revenue & earnings trend
FY2021 – FY2025 · reported fiscal years
Elkem ASA reported revenue of kr 16.5B in FY2025 versus kr 33.1B in FY2021, a compound −15.9%/yr. Reported net income was −kr 668M in FY2025.
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How we calculate Fair Value
Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data — nothing guessed.
Educational research only · not financial advice · no buy/sell recommendation. Model-based estimates are not certainties; their reliability depends on data quality and assumptions.