OX2 AB (publ) (OX2.ST) | Investment Case

1. Company Snapshot

1.a. Company Description

OX2 AB (publ) develops and sells wind farms and solar parks.It operates in Sweden, Finland, France, Italy, Lithuania, Norway, Poland, Romania, and Spain.The company was formerly known as OX2 Wind AB and changed its name to OX2 AB (publ) in February 2019.

The company was incorporated in 2004 and is headquartered in Stockholm, Sweden.OX2 AB (publ) is a subsidiary of Xygen Bidco AB.

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1.b. Last Insights on OX2

Have nothing to say about that one ...

1.c. Company Highlights

Last Price	59.55
Change Percentage	0.08%
Open	59.5
Previous Close	59.5
Market Cap ( Millions)	16228
Volume	45514
Year High	60.95
Year Low	33.04
M A 50	59.7
M A 200	54.44

FCF Yield	1.40%
Dividend Yield	0.00%
ROE	25.94%
Debt / Equity	1.67%
Net Debt / EBIDTA	-217.56%
Price To Book	3.57
Price Earnings Ratio	15.71
Price To FCF	71.49
Price To sales	2.07
EV / EBITDA	10.43

2. Transcript Summary

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3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.30%)

6. Segments

Wind and Solar Projects, Wind Parks and Management

Expected Growth: 10.3%

Growing demand for renewable energy, increasing government incentives, and declining technology costs drive growth in the wind and solar project development market, positioning OX2 AB for continued expansion.

7. Detailed Products

Wind Power

OX2 AB develops, constructs, and operates onshore wind farms, providing clean and renewable energy to the grid.

Solar Power

OX2 AB designs, builds, and operates solar parks, harnessing the power of the sun to produce electricity.

Hydro Power

OX2 AB develops, constructs, and operates hydroelectric power plants, utilizing the energy of moving water to generate electricity.

Grid Services

OX2 AB provides grid services, ensuring the reliable and efficient transmission of electricity from renewable sources to the grid.

Energy Storage

OX2 AB develops and operates energy storage solutions, optimizing the use of renewable energy and stabilizing the grid.

Project Development

OX2 AB develops and manages renewable energy projects, from concept to operation, ensuring successful project execution.

8. OX2 AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

OX2 AB (publ) operates in a niche market with limited substitutes, but there are some alternatives available to customers.

Bargaining Power Of Customers

OX2 AB (publ) has a diverse customer base, which reduces the bargaining power of individual customers.

Bargaining Power Of Suppliers

OX2 AB (publ) relies on a few key suppliers, which gives them some bargaining power, but the company's size and reputation also give it some negotiating power.

Threat Of New Entrants

Entering the market requires significant investment and expertise, which creates a barrier to entry and reduces the threat of new entrants.

Intensity Of Rivalry

The market in which OX2 AB (publ) operates is highly competitive, with several established players competing for market share.

9. SWOT Analysis

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

	Value
Debt Weight	1.64%
Debt Cost	8.52%
Equity Weight	98.36%
Equity Cost	8.52%
WACC	8.52%
Leverage	1.67%

11. Quality Control: OX2 AB (publ) passed 5 out of 9 key points

Strong Liquidity

Low Debt

Strong Interest Coverage

Healthy Cash Flow

Operating Efficiency

Strong Return On Equity

Consistent Revenue Growth

Consistent Operating Cash Flow Growth

Margin Improvement

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Cloudberry Clean Energy

A-Score: 5.0/10

Value: 5.8

Growth: 9.9

Quality: 2.5

Yield: 0.0

Momentum: 6.5

Volatility: 5.3

1-Year Total Return ->

Ecoener

A-Score: 4.6/10

Value: 4.1

Growth: 5.2

Quality: 3.4

Yield: 1.2

Momentum: 7.0

Volatility: 6.7

1-Year Total Return ->

Solaria Energía y Medio Ambiente

A-Score: 4.5/10

Value: 4.5

Growth: 8.9

Quality: 6.7

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

PNE

A-Score: 4.1/10

Value: 4.6

Growth: 2.3

Quality: 3.1

Yield: 0.6

Momentum: 6.5

Volatility: 7.7

1-Year Total Return ->

Enlight Renewable Energy

A-Score: 3.7/10

Value: 2.0

Growth: 3.9

Quality: 4.3

Yield: 0.0

Momentum: 10.0

Volatility: 1.7

1-Year Total Return ->

OX2

A-Score: 2.9/10

Value: 4.6

Growth: 4.2

Quality: 2.8

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

Peers Metrics

12.e Scoring ^Insights

12.f DCF ^BETA

Parameters

Short Term Growth

10.44%

Short term Time

10.0

Long-Term Growth

2.00%

WACC

8.52%

OX2 AB (publ) - SE0016075337

1. Company Snapshot

1.a. Company Description

1.b. Last Insights on OX2

Have nothing to say about that one ...

1.c. Company Highlights

Better Quality

More Volatile

Weak Momentum

Earnings Beats

Earnings Miss

Lower Yield

Expensive

Strong Momentum

Revenues Beats

Medium Volatility

Lower Quality

Fairly Valued

2. Transcript Summary

3. NewsRoom

4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.30%)

6. Segments

Wind and Solar Projects, Wind Parks and Management

Expected Growth: 10.3%

7. Detailed Products

Wind Power

Solar Power

Hydro Power

Grid Services

Energy Storage

Project Development

8. OX2 AB (publ)'s Porter Forces

Forces Ranking

Threat Of Substitutes

Bargaining Power Of Customers

Bargaining Power Of Suppliers

Threat Of New Entrants

Intensity Of Rivalry

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

11. Quality Control: OX2 AB (publ) passed 5 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

59.55$

Current Price

59.55$

Potential

-0.00%

Expected Cash-Flows

12.e Scoring ^Insights

12.f DCF ^BETA