Elkem stock
ELK.OLOSLElkem ASA, Basic MaterialsISIN NO0010816093
50Score 50 out of 100, Neutral
Price and trend
66 / 100
Price history
+25% in one yearThe chart shows daily closes over 9 years, adjusted for stock splits and without dividends. Click into the chart to set a price alert at that price.
Above the 200-day line: the price is 2.7% above it.
Since June 2025 the 50-day line has been above the 200-day line; the trend has turned up.
Normal: the price is neither overheated nor sold off (RSI 66).
The price is 13% below its 52-week high. Largest decline in 9 years: 75% (August 2018 to March 2020).
Chart figures for advanced users
- SMA 50$3.48
- Average price of the last 50 trading days, shows the short-term trend.
- SMA 200$3.27
- Average price of the last 200 trading days, shows the long-term trend.
- RSI (14)66
- Relative strength over the last 14 days on a scale from 0 to 100. Above 70 the price counts as overheated, below 30 as sharply fallen.
- MACDabove the signal line
- Compares a fast and a slow price average. Above its signal line momentum is rising, below it momentum is fading.
- Support$2.62
- The lowest closing price of the last twelve months.
- Resistance$3.86
- The highest closing price of the last twelve months.
Snapshot
Computed from the data by fixed rules, no AI
- Elkem ASA belongs to the Chemicals (Specialty) industry (Norway) and, with a market value of $1.22B, is number 89 of 106 companies in its industry on MEQIRI.
- In fiscal 2025 it reported revenue of $1.73B (down 7.2% year on year) and a loss of $70.08M.
- MEQIRI Score 50 out of 100 (Neutral): rank 319 of 461 in Basic Materials, median 57.
Show more
- The P/E is 20.7 (Chemicals (Specialty) median 24.4, own median of recent years 16.8).
- Our model puts fair value at $3.80, with the price 12% below it.
In plain words
The numbers on this page in plain words, written by an AI
Strengths
None of our strength checks applies.
Weaknesses
- Loss-makingLoss of $62.84M over the last 12 months.Fundamentals 48
- Revenue shrinkingRevenue down 7.2% a year since 2020.Growth 32
- Interest barely coveredOperating profit covers interest only 2 times.Stability 58
Its standout strengths are valuation and momentum, while growth and profitability hold the score back.
Daily figure as of 13 Nov 2026
How the score is calculatedScore overview
Score since yesterday from 51 to 50.
Fundamental quality fluctuates.
Score history
The full history of up to 20 years comes with MEQIRI Pro.
See plansCrash risk medium
How well MEQIRI warnsIn the middle among smaller stocks.
From 2016 to 2025, 20 in 100 such stocks fell 30% or more within a year, against a group average of 23 in 100.
What drives the risk
- cyclical sector (energy or materials), as a group, crashed more often in the backtest
- weak fundamentals
Valuation
Valuation signal
Fairly valuedIn our model the price counts as cheap below $2.92 and expensive above $5.42 (uncertainty medium, based on the price swings of the past year).
The two parts of the fair value come to $3.62 (cash-flow model) and $3.97 (industry comparison), and the gap between them shows how uncertain the estimate is. The price is slightly below both parts; given how much the stock swings, that still counts as fair.
Calculated with a cost of equity of 9.8%. At 10.8% the fair value would be $3.50, at 8.8% it would be $4.20.
Valuation metrics
Half from the cash-flow model, half from earnings times the industry P/E (24.4).
Calculate with your own assumptionsCompany performance
This shows several years of history with an automatic assessment.
Revenue
In the twelve months to 30 Sep 2026, revenue fell 11.2% on the twelve months before. Revenue has changed sharply in recent years: $1.73B in 2025 after $4.72B in 2022.
Margins
- Gross margin
- Operating margin
- Net margin
In fiscal 2025: gross 54%, operating 8%, net not measured.
Debt & balance sheet
latest quarterDebt is moderate, but interest coverage is weak. Keep an eye on the interest burden and refinancing.
Earnings
- Next earnings
- 11 Feb 2027in 90 days
- Last reported
- 29 Oct 2026EPS reported $0.09 (expected $0.04)above expectations
Analyst estimates
Analysts have cut their 2026 earnings estimate by 126.9% since 15 Oct 2026. Falling estimates often precede bad news.
- Earnings per share
- −$0.06−126.9%
- Revenue
- $1.59B−2.9%
- Earnings per share
- $0.37+1.5%
- Revenue
- $1.77B−5.8%
MEQIRI has stored the estimates since 15 Oct 2026. Until 30 days are available, the card shows the change since that day. Mean estimate according to Financial Modeling Prep. No price target and no recommendation.
Company outlook mixed
Share price after the results: +0.6%Elkem expects stable Q4 results in Silicon and Foundry Alloys, slightly better in Carbon, and raised its long-term EBITDA margin target from 15-20% to above 20% through the cycle, while Europe and the US see only modest improvement.
“So firstly, we have raised our long-term EBITDA margin target from previously 15% to 20% through the cycle to a new revised target of being above 20% EBITDA margin throughout the cycle.”The outlook is not part of the score and not a recommendation to buy or sell.
From the earnings call on 29 Oct 2026 (fiscal Q3 2026), read by AI.
What happened at Elkem
The key events of the last six months from our own data. A click takes you to the matching card.
Sector comparison
461 rated companies in Basic Materials
- This company
- 50
- Sector median
- 57
Categories against the sector median
The median is the middle value: half of the companies in the sector lie above it, half below. Categories with too few comparable companies are left out.
Competitors in Chemicals (Specialty)
The next larger and next smaller companies by market value
- CorbionCRBN.AS $1.7B66
- BorregaardBRG.OL $1.64B63
- Stepan CoSCL $1.51B51
- Industrie De NoraDNR.MI $1.32B45
- EcovystECVT $1.17B48
- Oil-Dri Corporation of AmericaODC $981.23M74
- Kronos WorldwideKRO $967.97M51
- SP GroupSPG.CO $809.96M73
ETFs that hold Elkem
Held by 9 ETFs on Xetra. Shown per index: the ETF with the largest weight.
| ETF | Weight | Cost | Fund size |
|---|---|---|---|
| WisdomTree Strategic Metals and Rare Earths Miners UCITS ETF USD AccRARE | 1.07% | 0.50% | €604M |
| State Street SPDR MSCI Europe Small Cap Value Weighted UCITS ETF EUR AccZPRX | 0.08% | 0.30% | €813.64M |
| Xtrackers MSCI Europe Small Cap UCITS ETF 1CXXSC | 0.07% | 0.30% | €3.45B |
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| Invesco RAFI Europe Fundamental Value UCITS ETF6PSC | 0.02% | 0.39% | €37.66M |
| Amundi MSCI Europe Small Cap ESG Broad Transition UCITS ETF DistX026 | 0.01% | 0.23% | €321.86M |
| iShares MSCI World Small Cap UCITS ETFIUSN | 0.01% | 0.35% | €8.27B |
| Vanguard ESG Global All Cap UCITS ETF (USD) AccumulatingV3AA | 0.00% | 0.24% | €1.69B |
| Vanguard FTSE Global All-Cap UCITS ETF Accum USDVGLA | 0.00% | 0.07% | €3.9B |
Holdings as reported by the funds via FMP, excluding swap ETFs (their holdings are only collateral).
Data status and sources
- Score
- Daily value of 13 Nov 2026, recalculated nightly
- Price
- Closing price of 12 Nov 2026
- Latest annual report
- Fiscal year 2025, period end 31 Dec 2025
- Currency
- Amounts in US dollars, converted at the ECB reference rate of 12 Nov 2026 ($1 = NOK 9.5325)
- Source
- Financial statements, ratios and prices from Financial Modeling Prep (FMP), based on the company's reports. MEQIRI calculates the score and fair value from them.
Mandatory disclosures for this rating
- ; time horizon around 12 months
- Rated Neutral since 11 Nov 2026, previously Weak
- Valuation signal Fairly valued since 7 Nov 2026
- End-of-day prices, metrics cached for up to 24 hours
- Score and fair value are estimates from a disclosed model. They are not facts and not a price target.
- Produced by SSM Ventures UG (haftungsbeschränkt), responsible person Sven Brostmeyer, Managing Director, automatically according to the disclosed model.
- Not investment advice. Losses up to and including a total loss are possible. Personal circumstances are not considered.