Norsk Hydro ASA (NHY.OL) stock analysis

In our weekly check, Norsk Hydro ASA is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 15 pass, warnings: 4, red flags: 6.

About Norsk Hydro ASA

Norsk Hydro ASA is a Basic Materials company (Aluminum) based in Norway, listed on OSL as NHY.OL.

What our checks show for NHY.OL

Red flags

• The net margin fell by 3.4 points over 5 years, to 4.8%: the company keeps less of each sale as profit.
• The gross margin fell by 3.5 points, to 31.9%: costs are rising faster than prices.
• Revenue fell 0.5% a year over the last 3 years.
• The net margin is only 4.8%: little room if costs rise.
• The stock has fallen as much as 76% from a peak. Would you have held through that?
• Recovering from its deepest fall took about 12.7 years.

Warning signs

• Analysts expect only about 2.6% a year of growth in revenue.
• Earnings per share fell 24.9% a year over the last 3 years.
• Net profit fell 26.1% a year over the last 3 years.
• Free cash flow is only 3.6% of revenue.

Strengths

• Net debt is only 0.7x a year of EBITDA: the balance sheet has room.
• Operating profit covers interest 13.9 times over.
• Operating cash flow is 1.93x net profit: the profit arrives as real cash.
• Analysts expect earnings per share to grow about 16.4% a year over the next years.
• A large company: market value $14.2 billion.
• Actively traded: about 3.1 million shares a day.

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Questions

What grade does Norsk Hydro ASA (NHY.OL) have?

In our weekly check, Norsk Hydro ASA is graded C (A to F). Of 25 checks on debt, profit, cash flow and trend: 15 pass, warnings: 4, red flags: 6. The grade is a risk check, not a buy or sell recommendation.

What are the main risks of NHY.OL stock?

This week's biggest flags for Norsk Hydro ASA: Margins falling, Gross margin falling, Weak revenue growth. In total 10 of 25 checks show a warning or a red flag.

What does Norsk Hydro ASA do?

Norsk Hydro ASA is a Basic Materials company (Aluminum) based in Norway, listed on OSL as NHY.OL.

The grade is a risk check, not a price forecast, and not investment advice. In our 10-year test (S&P 500, 2016-2026), stocks we graded A or B fell more than 30% 2-3 times less often than D or F, without a lower average return.

Updated 2026-10-24

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