NOD.OL Valuations

Quarterly trend of key valuation metrics

Metric	Current (TTM) TTM Baseline	Q2 '26 30.06.2026	Q1 '26 31.03.2026	Q4 '25 31.12.2025
Market & Enterprise Value
Market Cap	34.85B EUR	35.96B EUR	30.2B EUR	26.31B EUR
Enterprise Value	34.68B EUR	35.85B EUR	30.09B EUR	26.17B EUR
Valuation Multiples
Trailing P/E	111.52x	1,148.53x	1,207.19x	1,693.92x
Forward P/E	36.4x	--	--	--
Price to Sales	45.89x	61.95x	57.41x	53.85x
Price to Book	5.32x	51.16x	44.4x	38.72x
EV/Revenue	45.66x	61.75x	57.2x	53.55x
EV/EBITDA	628.07x	515.7x	541.03x	578.21x
Price to FCF (P/FCF)	--	--	1,228x	391.82x
EV/FCF	--	--	1,223.4x	389.69x
FCF Yield	-0.1%	-0.01%	0.08%	0.26%