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Cavendish Hydrogen ASA (CAVEN.OL)

NOK6.00 +0.10 (+1.69%)
NO OSL Utilities Regulated Gas
Address Dronning Eufemias Gate 16 191
Oslo, NO
CEO Robert Borin
IPO 2024-06-12
ISIN NO0013219535

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Description

Cavendish Hydrogen ASA is dedicated to the development and manufacturing of advanced hydrogen refueling systems, catering to markets across Norway, Denmark, broader Europe, North America (including the United States), and various parts of Asia, such as South Korea. Their key offering, the H2Station, represents a versatile suite of hydrogen filling stations engineered to power a wide spectrum of hydrogen-fueled vehicles, ranging from private automobiles and commercial vans to public buses and heavy-duty trucks. Beyond product manufacturing, the company delivers extensive support services, covering project management, system installation, commissioning, operational assistance, maintenance, and the provision of essential spare parts. The company was established in 2003 and operates from its main office in Oslo, Norway.

Market Cap & Enterprise Value
Merger & Acquisition History

No mergers or acquisitions recorded for this company.

Technical Outlook
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Signal Summary Loading…
Indicator 1D1W2W3W1M
Each column is computed on that timeframe's candles (1D = daily, 1W ≈ weekly, 1M ≈ monthly), not on the same last day. ▲ bullish · ▼ bearish · — neutral. The Net row counts signals per column; hover any cell (or the indicator name) to see the exact rule behind it.
Day Score & sub-scores
Statistical fingerprint & regime detail
Conditional historical analysis
Customize analysis (advanced)
Indicative levels generated algorithmically. Not financial advice.
Risk Profile
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Price Chart
Averages
Trend
Price
Levels
Draw
NOK6.00 +0.10 (+1.69%)
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Volume Profile
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Liquidity & share structure
Average Volume
57.1K
Beta
1.35
Float Shares
11.35M
Free Float %
34.0%
Price Performance
1D5D1M3M6M YTD1Y3Y5Y10YMax
+0.24% -1.27% +15.74% +23.09% +6.63% +17.49% -19.98% -64.46% -64.46% -64.46% -64.46%
Rolling Volatility
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Drawdown
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Relative Strength
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Monthly Returns Heatmap
From To
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Annual Monthly Returns
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Daily Returns Distribution
vs.
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Revenue flow

Revenue by geography

Revenue by segment

From To

Revenue composition

From To

By product

By geography

Financial Statements

Income Statement

Balance Sheet

Cash Flow Statement

Key Metrics

Financial Ratios

Employees

Financial Growth (CAGR)

Market Data

Price Targets & DCF
Current price
6.00
Ratings Trend (MoM) 0% Bullish
Rating 2026-03 Change
Strong Buy 0 0
Buy 0 0
Hold 1 0
Sell 0 0
Strong Sell 0 0
Quality scores
Altman Z-Score
-0.20
Distress
Piotroski F-Score
4 / 9
Average
MOAT Score
0 / 10
No MOAT
Composite Rating
C+
Overall Score
2 / 5
Medium
DCF Score
1 / 5
Low
ROE Score
1 / 5
Low
ROA Score
1 / 5
Low
D/E Score
4 / 5
High
P/E Score
1 / 5
Low
P/Book Score
5 / 5
High
Operational MOAT
✗ Below peers
  • Revenue growth Regulated Gas: +4.9%
    -50.7% Q1'26: -23.7% (vs Q1'25)
  • EPS growth Regulated Gas: +13.8%
    -16.2% Q1'26: +35.7% (vs Q1'25)
  • FCF margin FCF growth · Regulated Gas: +30.8%
    -145.1% Q1'26: -125.0% (vs Q1'25)
  • EBIT margin Regulated Gas: +12.9%
    -158.2% Q1'26: -178.6% (vs Q1'25)
  • ROIC Regulated Gas: +4.7%
    -79.2% Q1'26: -68.3% (vs Q1'25)
  • Share dilution Regulated Gas: 0.0%
    +0.0% Q1'26: -0.5% (vs Q1'25)
  • Debt / EBITDA Net debt/EBITDA · Regulated Gas: 2.21×
    -0.11× Q1'26: -0.12× (vs Q1'25)
Valuation Multiples From To
Price Forecast (3Y) From To
Model
Adjust
P/E
Theoretical Return — If Invested Today

* These projections are based on analyst consensus estimates and user-defined valuation multiples. This table is for informational purposes only and does not constitute a recommendation to buy or sell any security. Past performance is not indicative of future results.

DCF Interactive Model (UFCF)
Projection years:
Market assumptions
WACC components (optional)
Ke (Cost of Equity) = Rf + β (-0.87) × ERP
WACC = 93% × Ke + 7% × Kd (130.4%) × (1−t)

Modifying these values recalculates WACC automatically.

Business assumptions
Current price: 6.00
Enterprise Value: Equity Value: Terminal Value: TV as % of EV:

Base values reflect the latest available data for this company and market conditions.

Consensus Estimates
Metric Dec 2024
actual
Dec 2025
actual
Dec 2026
1 Rev. Ana.
1 EPS Ana.
Dec 2027
1 Rev. Ana.
1 EPS Ana.
Dec 2028
1 Rev. Ana.
Revenue
31.00M
est: 36.66M (-15.4%)
15.30M
est: 21.51M (-28.9%)
23.53M
23.53M – 23.53M
+9.4% YoY
29.04M
29.04M – 29.04M
+23.4% YoY
114.40M
114.40M – 114.40M
+293.9% YoY
EBITDA
-16.60M
est: -29.16M (+43.1%)
-18.90M
est: -17.11M (-10.4%)
-18.72M
-18.72M – -18.72M
-9.4% YoY
-23.10M
-23.10M – -23.10M
-23.4% YoY
-91.01M
-91.01M – -91.01M
-293.9% YoY
EBIT
-21.20M
est: -32.36M (+34.5%)
-24.20M
est: -18.99M (-27.4%)
-20.77M
-20.77M – -20.77M
-9.4% YoY
-25.64M
-25.64M – -25.64M
-23.4% YoY
-100.99M
-100.99M – -100.99M
-293.9% YoY
Net Income
-22.70M
est: -28.21M (+19.5%)
-26.60M
est: -24.53M (-8.4%)
-12.98M
-12.98M – -12.98M
+47.1% YoY
-8.27M
-8.27M – -8.27M
+36.2% YoY
— – —
+100.0% YoY
SGA
6.02M
est: 4.50M (+33.8%)
est: 2.64M (-100.0%)
2.89M
2.89M – 2.89M
+9.4% YoY
3.56M
3.56M – 3.56M
+23.4% YoY
14.04M
14.04M – 14.04M
+293.9% YoY
EPS
-0.68
est: -0.84 (+19.0%)
-0.79
est: -0.73 (-8.2%)
-0.39
-0.39 – -0.39
+47.1% YoY
-0.25
-0.25 – -0.25
+36.2% YoY
— – —
+100.0% YoY
Historical Ratings (3M)
Date Rating Overall DCF ROE ROA D/E P/E P/B
2026-05-26 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-22 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-21 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-20 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-19 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-18 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-15 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-13 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-12 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-11 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-08 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-07 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-06 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-05 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-05-04 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-04-30 C+ 2/5 1/5 1/5 1/5 4/5 1/5 5/5
2026-04-29 C+ 2/5 1/5 1/5 1/5 3/5 1/5 5/5
2026-04-28 C+ 2/5 1/5 1/5 1/5 3/5 1/5 5/5
2026-04-27 C+ 2/5 1/5 1/5 1/5 3/5 1/5 5/5
2026-04-24 C+ 2/5 1/5 1/5 1/5 3/5 1/5 5/5
2026-04-23 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5
2026-04-22 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5
2026-04-21 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5
2026-04-20 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5
2026-04-17 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5
2026-04-16 C 2/5 1/5 1/5 1/5 2/5 1/5 5/5

Owner Earnings

Owner's Earnings (history) From To
Owner alignment
Owner's Earnings TTM
-21.38M
OE per share TTM
-0.64
Owner's Yield
-7.50%
Maintenance CapEx ratio
Maint CapEx / Avg PPE
44.9%

Ownership Overview

Ownership breakdown

Ownership breakdown not available.

At a glance
Institutional holders
Total invested
Insider transactions (90d)
0
Beneficial owners (>5%)
0
Beneficial owners (>5%)

No beneficial ownership filings recorded.

Institutional Activity (13F)

Institutional ownership trend

Institutional history not available.

Top institutional holders

Top holders not available.

ETF Ownership

Top ETFs holding this stock

This company is not held by any ETF in our universe.

Insider Activity

Insider Activity — Latest Quarter

No insider activity available.

Insider buys vs sells (history)

Insider history not available.

Recent insider transactions

No recent insider transactions.

Executive team

Top executives
EBIT / Employee
-104.3K
Shares Outstanding
33.42M

Executive compensation

Executive compensation (annual)

Executive compensation not available.

CEO compensation breakdown

No CEO compensation history available.

Proxy statements

Proxy statements (DEF 14A)

No proxy statements available for this company yet.

Recent SEC filings

Recent SEC filings

No SEC filings available for this company yet.

Executive team

NameTitleCompensationGender
Robert Borin Chief Executive Officer 6M male
Marcus Halland Chief Financial Officer 4M male
Michael Ewald Stefan Chief Technology Officer 3M male
Peder Hykkelbjerg Hansen Chief Operating Officer 3M male
Nils Jacob Haaning C.C.O 2M male
Stefan Thorsteinsson General Counsel male
Martin Anton Pfandl Head of Sales
Michael Dahl Olsen Head of IR and M&A male
Soren Hojgaard Head of Q/HSE
Elsebeth Haarup Rasmussen Head of Human Resources
ESG Score History

No data available for this company.

Senate Trading Activity

No Senate trading activity found for this company.

House Trading Activity

No House trading activity found for this company.

Market share among peers
Peer comparison — filtered group (TTM)
Your opinion

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Dividend history

Earnings history

Earnings reports

Stock splits