Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
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Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Elkem ASA is a Norway-based global leader in the environmentally responsible production of advanced silicon-based materials, founded in 1904 and headquartered in Oslo. The company specializes in developing silicones, silicon products, and carbon solutions by integrating natural raw materials, renewable energy, and innovative processes. Its three core divisions include Silicones, offering fully integrated products like chlorosilanes, oils, liquid silicone rubber, resins, emulsions, and compounds for diverse applications; Silicon Products, providing silicon metal, ferrosilicon, microsilica, and specialty alloys for industries such as electronics, solar, and automotive; and Carbon Solutions, supplying electrode paste, carbon electrodes, and furnace materials to ferroalloys, silicon, and aluminum sectors. Elkem serves key markets including electric mobility, digital communications, healthcare, personal care, construction, and sustainable cities, with over 7,200 employees across 31 sites worldwide and more than 1,200 patents. Listed on the Oslo Stock Exchange, Elkem emphasizes ESG practices, driving innovations for a greener future.
NOK 31.36
+NOK 0.80 (+2.62%)
EOD Jul 2, 2026
Operating margin is thin at 6.08%. Limited cushion if revenue slows or costs rise, not the profile of a wide-moat business.
Revenue declined 7.1% YoY. Margins deteriorated 3.6pp alongside, both lines moving the wrong way.
ROIC dropped from 4.35% to 1.94%, capital efficiency is deteriorating. Negative free cash flow of -NOK 1.18B. The business is consuming cash, not generating it.
Based on TTM earnings · Diluted shares
Profitability & Returns
Revenue (FY)
NOK 16.54B
▼ -7.1% YoY
Net Income (FY)
-NOK 584M
▼ -201.2% YoY
Op. Margin
6.08%
▼ -3.6pp YoY
ROIC
1.94%
▼ -2.4pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-NOK 1.18B
▲ +13.5% YoY
Op. Cash Flow (FY)
NOK 1.34B
▲ +947.7% YoY
Net Debt
NOK 9.28B
Cash & Equiv.
NOK 2.69B
3Y CAGR: -28.4%
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Elkem ASA (ELK.XOSL)'s valuation is best read against its own history, its peers, and the growth its price implies. A high multiple is not the same as overvalued: fast-growing, high-quality businesses can deserve a premium. See the general approach in .
On quality, Elkem ASA scores 6/100 on Intrinsiqq's quality scorecard (a lower-quality business on these measures), weighing growth, margins, returns on capital, share count, and balance-sheet strength. It currently yields about 1.0%; see dividend safety for coverage and history. All figures are computed from SEC filings; read the full methodology. This is analysis, not investment advice.
Elkem ASA scores 6 out of 100 on Intrinsiqq's quality score, a weighted blend of 6 metrics each scored 0 to 100, which makes it a lower-quality business on these measures. Recent fundamentals include a 6.1% operating margin and a 1.9% return on invested capital. The score weighs revenue and free-cash-flow growth, operating margins, return on invested capital, share-count change, and balance-sheet strength, all computed from SEC filings, not opinion. Because valuation only means something relative to quality, the full metric-by-metric breakdown is on the quality scorecard.
Yes, Elkem ASA pays a regular dividend of about NOK 0.30 per share per year (typically in quarterly installments), a yield of roughly 1.0% at the current price. Elkem ASA has grown the dividend at roughly 25.6% a year over the past few years. A low headline yield is not the same as a weak dividend: what matters is how well earnings and free cash flow cover the payout and whether it is growing, not the percentage alone. For ELK.XOSL's full payout history, growth streak and dividend-safety score, see the dividends tab.
That depends on valuation and quality together, not either alone. you should weigh ELK.XOSL's valuation and scores 6/100 on quality (lower-quality). It also yields about 1.0%. A cheap price is only a bargain if the business is durable, and a premium can be justified by genuine quality, so the two questions, "is it cheap?" and "is it good?", only make sense side by side. Read the valuation against the quality scorecard, run the DCF on your own assumptions, and decide for yourself. This is analysis from SEC filings, not investment advice.