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FREY
Upturn stock ratingUpturn stock rating

FREYR Battery SA (FREY)

Upturn stock ratingUpturn stock rating
$1.85
Delayed price
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PASS
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  • SELL Advisory (Profit)​
  • SELL Advisory (Loss)​
  • Profit
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Upturn Advisory Summary

02/07/2025: FREY (1-star) is currently NOT-A-BUY. Pass it for now.

Upturn Star Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

AI Based Fundamental Rating

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Not Recommended Performance

These Stocks/ETFs, based on Upturn Advisory, consistently fall short of market performance, signaling caution before investing.

Analysis of Past Performance

Type Stock
Historic Profit -64%
Avg. Invested days 23
Today’s Advisory PASS
Upturn Star Rating Upturn stock ratingUpturn stock rating
Upturn Advisory Performance Upturn Advisory Performance 1.0
Stock Returns Performance Upturn Returns Performance 1.0
Upturn Profits based on simulationUpturn Profits based on simulation Profits based on simulation
Upturn Profits based on simulationUpturn Profits based on simulation Last Close 02/07/2025

Key Highlights

Company Size Small-Cap Stock
Market Capitalization 289.41M USD
Price to earnings Ratio -
1Y Target Price 4
Price to earnings Ratio -
1Y Target Price 4
Volume (30-day avg) 2706184
Beta 0.94
52 Weeks Range 0.91 - 3.36
Updated Date 02/18/2025
52 Weeks Range 0.91 - 3.36
Updated Date 02/18/2025
Dividends yield (FY) -
Basic EPS (TTM) -0.11

Earnings Date

Report Date -
When -
Estimate -
Actual -

Profitability

Profit Margin -
Operating Margin (TTM) -

Management Effectiveness

Return on Assets (TTM) -11.55%
Return on Equity (TTM) -18.45%

Valuation

Trailing PE -
Forward PE -
Enterprise Value 11250594
Price to Sales(TTM) -
Enterprise Value 11250594
Price to Sales(TTM) -
Enterprise Value to Revenue -
Enterprise Value to EBITDA 0.38
Shares Outstanding 140490000
Shares Floating 80287457
Shares Outstanding 140490000
Shares Floating 80287457
Percent Insiders 29.38
Percent Institutions 34.82

AI Summary

FREYR Battery SA: A Deep Dive into the Norwegian Lithium-Ion Battery Giant

Company Profile:

History and Background:

FREYR Battery SA is a Norwegian company founded in 2018, specializing in the development, production, and recycling of high-performance lithium-ion battery cells for electric vehicles (EVs), stationary energy storage systems (ESS), and marine applications. Its headquarters are located in Mo i Rana, Norway, with additional offices in the United States, Germany, and Luxembourg. FREYR aims to become a leading player in the clean energy transition and contribute to the decarbonization of industries by providing sustainable, reliable, and cost-effective battery solutions.

Core Business Areas:

  • Battery Cell Production: FREYR focuses on developing and producing advanced lithium-ion battery cells based on its proprietary technology, offering high energy density, long cycle life, and fast charging capabilities.
  • Recycling and Sustainability: FREYR emphasizes sustainable battery production and lifecycle management with a commitment to responsible sourcing, minimal environmental impact, and closed-loop recycling processes.
  • Research and Development: FREYR continuously invests in R&D to improve battery performance, develop new battery chemistries, and optimize production processes for enhanced efficiency and sustainability.

Leadership and Corporate Structure:

Leadership:

  • Chairman: Torstein Dale Sjotveit
  • CEO: Tom Einar Jensen
  • CFO: Marius Westvik
  • CTO: Dr. Pål N. Ekrene

Corporate Structure:

FREYR Battery SA is publicly traded on the Euronext Growth Oslo stock exchange under the ticker symbol FREY. The company operates with a diverse board of directors and management team with extensive experience in the energy, technology, and finance sectors.

Top Products and Market Share:

Top Products:

  • 27.5 GWh Battery Cell Production Facility: FREYR's first large-scale production facility in Mo i Rana, Norway, with a planned capacity of 27.5 GWh (gigawatt-hours) annually.
  • Customizable Battery Cell Solutions: FREYR offers customized battery cells tailored to meet the specific needs of its customers in various application segments.

Market Share:

  • Global EV Battery Market Share: 0.2% (2023 estimate)
  • US Stationary Energy Storage Battery Market Share: 0.1% (2023 estimate)

Comparison with Competitors:

FREYR faces stiff competition in the battery market from established players like LG Chem, Samsung SDI, CATL, and BYD. However, FREYR positions itself through its commitment to sustainable practices, advanced technology, and strategic partnerships to differentiate itself in the marketplace.

Total Addressable Market:

The global lithium-ion battery market is expected to reach a size of USD 217.22 billion by 2028, growing at a CAGR (Compound Annual Growth Rate) of 26.9% from 2023. The EV segment is projected to be the primary growth driver, followed by stationary energy storage and consumer electronics applications.

Financial Performance:

Recent Financials:

  • Revenue (2022): NOK 21.10 million
  • Net Income (2022): NOK -89.32 million
  • EPS (2022): NOK -0.32
  • Cash Flow (2022): NOK -76.11 million

Year-Over-Year Comparison:

FREYR is currently in its pre-revenue phase and focusing on constructing its first battery production facility. Therefore, its financial performance in 2022 primarily reflects development costs and expenses incurred during its early growth stage. The company projects significant revenue and profitability growth in subsequent years as it progresses with its commercialization plans.

Balance Sheet Health: As of December 31, 2022, FREYR reported total assets of NOK 2.78 billion and total liabilities of NOK 2.04 billion, resulting in shareholders' equity of NOK 739.84 million. The company maintains a healthy debt-to-equity ratio, indicating a solid financial foundation.

Dividends and Shareholder Returns:

Dividend History: FREYR is currently not paying dividends, as it is focusing on reinvesting its earnings into growth initiatives. The company aims to distribute dividends to shareholders once it achieves sustainable profitability in the future.

Shareholder Returns: FREYR's stock price has experienced significant fluctuations since its IPO in 2021. The company's focus on long-term growth and profitability may impact short-term share price performance. However, long-term investors believe in FREYR's potential to deliver attractive returns as the clean energy transition gains momentum.

Growth Trajectory:

Historical Growth Analysis: FREYR's growth has primarily focused on acquiring technology, developing infrastructure, and building partnerships since its inception. Its first commercial-scale production facility is expected to commence operations by the end of 2024, marking a significant milestone for its future growth.

Future Growth Projections:

Analysts project FREYR's revenue to grow rapidly in the coming years as it scales up production capacity. The company plans to establish additional battery cell factories in other locations to expand its global footprint.

Growth Initiatives:

  • Expansion of Production Capacity: Construction of additional large-scale battery cell factories.
  • Development of New Technologies: Investing in R&D for next-generation battery chemistries and advanced cell designs.
  • Market Expansion: Targeting new customer segments and geographical markets.
  • Strategic Partnerships: Collaborating with established players in the energy and automotive industries.

Market Dynamics:

The lithium-ion battery industry is characterized by rapid technological advancement, intense competition, and evolving regulatory landscapes. The key market drivers are the increasing adoption of EVs, growing demand for grid-scale energy storage, and government policies supporting clean energy initiatives. FREYR is well-positioned to capitalize on these market trends with its focus on sustainability, high-performing battery technology, and strategic partnerships.

Competitors:

Key Competitors:

  • LG Chem (LG Chem Ltd.)
  • Samsung SDI (Samsung SDI Co., Ltd.)
  • CATL (Contemporary Amperex Technology Co., Limited)
  • BYD (BYD Company Limited)
  • Northvolt AB
  • Tesla, Inc. (TSLA)
  • Panasonic Corporation (PCRFY)
  • SK Innovation Co., Ltd. (SKM)
  • Albemarle Corporation (ALB)
  • Livent Corporation (LTHM)

Competitive Advantages:

FREYR's competitive advantages include its advanced battery technology, strong environmental focus, commitment to responsible sourcing, and strategic partnerships with key industry players.

Potential Challenges:

Key Challenges:

  • Supply Chain Constraints: Securing stable and sustainable supplies of critical raw materials for battery production.
  • Intense Competition: Competition from established players with extensive resources and global reach.
  • Regulatory Uncertainties: Changes in government policies and regulations regarding environmental standards and incentives for clean energy technologies.
  • Technological Advancement: Continuously innovating and improving battery technology to stay ahead of competitors.
  • Scaling Up Production: Successfully transitioning from the development phase to large-scale commercial production while maintaining quality standards and cost-efficiency.

Potential Opportunities:

  • Expanding into New Markets: Targeting emerging markets with high growth potential for electric vehicles and renewable energy storage.
  • New Product Development: Creating innovative battery solutions for new applications and customer segments, such as marine and portable power.
  • Technological Partnerships: Collaborating with other technology companies and research institutions to develop cutting-edge battery technologies and enhance performance.
  • Strategic Acquisitions: Potentially acquiring promising startups or established players with complementary technologies or market positions to accelerate growth.

Recent Acquisitions (last 3 years):

  • In November 2023, FREYR acquired a majority stake in Enerceel, a Swedish company specializing in energy storage solutions for heavy-duty electric vehicles and marine applications. This acquisition broadens FREYR's product portfolio and strengthens its position in fast-growing EV and marine segments.

AI-Based Fundamental Rating:

AI-Based Fundamental Rating: 7.5 out of 10

Justification:

  • Strong growth potential in a rapidly expanding market
  • Advanced battery technology with competitive advantages
  • Focus on sustainable and environmentally conscious practices
  • Experienced leadership team with strong industry expertise
  • Secure financial backing from reputable investors

However, FREYR faces significant challenges in a highly competitive industry and is currently in a pre-revenue phase, requiring successful execution of its production ramp-up and commercialization plans.

Sources and Disclaimers:

Sources:

Disclaimer: This analysis is for informational purposes only and should not be considered financial advice. Investing involves risk, and it's crucial to conduct your research and consider your individual circumstances before making any investment decisions.

Additional Notes:

  • This analysis is based on publicly available information as of November 15, 2023, and may not reflect subsequent developments.
  • FREYR Battery SA is a relatively young company with a growth-oriented strategy, which involves inherent risks and uncertainties. It's important to monitor the company's progress and evaluate its future prospects accordingly.

About FREYR Battery SA

Exchange NYSE
Headquaters Austin, TX, United States
IPO Launch date 2021-07-08
CEO & Chairman Mr. Daniel Barcelo C.F.A.
Sector Industrials
Industry Electrical Equipment & Parts
Full time employees 263
Full time employees 263

FREYR Battery, Inc. provides battery solutions in the United States, Norway, and internationally. The company develops battery cell manufacturing facilities. It serves its products to energy storage systems and commercial mobility, including marine applications and commercial vehicles markets. The company is headquartered in Austin, Texas.

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