profit from every NOK 100 of sales.
NOK 0NOK 100
Nel
NOK 2.00-0.94% today
-16.4% in 1 year
1-year low NOK 1.911-year high NOK 3.85
Trading close to its lowest price of the past year.
The essentials
Four questions every investor asks, answered in one line each.
more sales each year, on average, 2022 to 2025.
0%20% a year
It has no yearly profit to compare the price with.
CheapExpensive
It holds more cash than debt.
No debt5 years
Money in, money out
What Nel sold, what it kept, and what it did with the cash.
Sales went from NOK 915 million in 2022 to NOK 963 million in 2025, with -NOK 1.27 billion of profit last year.
SalesProfit
Nel vs. similar companies
How it compares with the largest companies in its industry.
| Company | Profit from NOK 100 of sales | Sales growth a year | Price per NOK 1 of profit |
|---|---|---|---|
| Nel | No profit yet | ||
 GE Vernova | 43.8× · Expensive | ||
 Schneider Electric S.E. | 34.2× · Expensive | ||
 Eaton | 34.3× · Expensive | ||
 Siemens Energy | 79.9× · Very expensive |
AI analysis
An AI analyst reads Nel's last five years, its segments, earnings, insiders and peers, and writes the bull case, the bear case and what the price expects.
Run the AI analysisFull statementsIncome, balance sheet and cash flow, year by year
Income statement
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| 915 | 1,350 | 1,390 | 963 | |
| 330 | 635 | 886 | 562 | |
| -1,008 | -516 | -490 | -687 | |
| -1,004 | -336 | -31 | -190 | |
| -1,171 | -855 | -244 | -1,265 | |
| -0.76 | -0.52 | -0.15 | -0.70 | |
| 36.1% | 47.0% | 63.7% | 58.4% | |
| -110.2% | -38.3% | -35.2% | -71.4% | |
| -128.0% | -63.4% | -17.6% | -131.4% |
Balance sheet
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| Total assets | 6,951 | 7,857 | 6,304 | 4,957 |
| Cash | 3,126 | 3,348 | 1,856 | 1,610 |
| Total debt | 223 | 260 | 260 | 233 |
| Total liabilities | 1,501 | 1,659 | 1,327 | 1,024 |
| 5,450 | 6,198 | 4,977 | 3,933 | |
| 1,538 | 1,652 | 1,671 | 1,806 | |
| -16.2% | -6.8% | -3.7% | -24.0% | |
| -21.5% | -13.8% | -4.9% | -32.2% |
Cash flow
| In millions of NOK | 2022 | 2023 | 2024 | 2025 |
|---|---|---|---|---|
| -691 | -670 | -242 | -253 | |
| 279 | 740 | 647 | 290 | |
| -969 | -1,409 | -888 | -543 | |
| Dividends paid | – | – | 625 | – |
| – | 0 | 625 | – | |
| 8 | 4 | 3 | 2 |
Valuation
- –
- –
- –
- 1.2×
- 3.8×
- –
- –
- -14.8%
- -34.5%
- –
Profitability
- 58.4%
- -71.4%
- -131.4%
- –
- -24.0%
- -12.6%
- –
- –
- –
- –
Growth
- +1.7%
- –
- –
- –
- +5.5%
Financial health
- -7.3×
- 0.06
- –
- -76.7×
- 3.91
- –
- –
How it ranks in Industrials
Each dot is where the company stands among every company over $300M in the sector. Further right is better.
Bottom 1%of 982
Bottom 1%of 989
Bottom 24%of 986
Bottom 3%of 988
News
No recent news on file.
Insider trades
Our insider feed has not updated since May 26, 2026. Trades filed after that are not listed yet.
No insider trades on file.
The seven classic investing rulebooks
1/7Passes 1 of 7. Each bar is how well the company fits that investor's published rules, from 0 to 100; 60 or more counts as a pass.
Warren Buffett
28No pass
Benjamin Graham
65Pass
Philip Fisher
31No pass
Peter Lynch
33No pass
Joel Greenblatt
2No pass
Charlie Munger
32No pass
Terry Smith
25No pass
Questions about Nel
Is Nel a good stock to buy?
A business with weak numbers that is not profitable yet. 1 of the 7 famous investors' published rulebooks we apply pass it. Whether it suits you depends on your goals and the price you pay; invest-like never tells anyone to buy or sell. The AI analysis lays out the case for and against. Read the Nel AI analysis
What does Nel do?
Nel ASA, a hydrogen company, provides solutions to produce, store, and distribute hydrogen from renewable energy in Norway and internationally. It operates through Nel Alkaline Electrolyser and Nel PEM Electrolyser segments. It is in Specialty Industrial Machinery, based in Oslo, Norway, with 320 employees.
Is Nel stock halal?
No. Nel does not pass our halal screen: its cash and confirmed interest-bearing investments are 44% of its market value, at or above the 33% limit. How we check
How has Nel stock done over the past year?
Down 16.4% over the past twelve months, to NOK 2.00. It traded between NOK 1.91 and NOK 3.85 and is 48.1% below its high.
Who are Nel's competitors?
The largest listed companies in the same industry are GE Vernova, Schneider Electric S.E., Eaton and Siemens Energy. The peers table on this page compares their profit, growth and price with Nel's.
Prices: daily closes to Nov 11, 2026. Fundamentals: company reports via invest-like data.