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Neste Oyj

2026-05-01🇫🇮 OMXHenergyTop disagreement #1
29.37 EUR
52-Week Range
8.70 €
30.75 €

AI Consensus

Model estimate
19.40 €
Incl. 30% analyst anchoring
Gap
-33.9%
Agreement
0.644/5 models
Raw 0.53
Dispersion
σ 0.19
Analyst consensus
26.95 €(18 analysts)
AI Summary
4 of 5 AI models are negative on NESTE. Key concern: Volatility in crude oil and renewable feedstock prices impacting profitability. AI consensus estimate 19.40 33.9% below the current price. Model agreement is moderate (0.64). Analyst consensus: 26.95 (AI -28.0%).
gptclaudegeminideepseekgrokNESTENeste Oyj29.4spot26.9analysts18.220.723.125.628.130.6
Bear Case (min)
16.17 €
-44.9%
Base Case (median)
19.40 €
-33.9%
Bull Case (max)
29.66 €
1.0%

Estimate History AI model estimates and spot price over time

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What Changed Today

Consensus Est.:19.7119.40(-1.6%)
CAGR
+1.0pp(2 ↑)
MARG
+0.5pp(1 ↑, 1 ↓)
WACC
+0.5pp(1 ↑)
no changeassumptions adjustedmetric change
Model Breakdown
GPT
Est.
28.84
Gap
-1.8%
Conf
0.70
DCF 29.66Cal. 28.84
Key Drivers
  • Transition to renewable energy
  • Expansion of sustainable aviation fuel market
  • Investment in technology and infrastructure
Top Risk
  • Volatility in oil prices
  • Regulatory changes in energy policies
  • Competition in renewable fuel markets
Delta
Assumptions remain stable with a positive outlook on revenue growth.
No previous data
stableenergy
DEEPSEEKADJ
Est.
19.40
Gap
-33.9%
Conf
0.55
DCF 16.17Cal. 19.40
Key Drivers
  • Transition to renewable diesel and SAF provides volume growth opportunity, of…
  • Historical revenue decline (-9.6% CAGR) largely driven by post-2022 commodity…
  • Trailing EBIT margin (2.1%) is depressed due to down-cycle; mid-cycle margin …
Top Risk
  • Commodity price volatility (crude oil, renewable credits) could compress margins further
  • Regulatory changes in EU/US renewable fuel mandates may impact SAF and renewable diesel…
  • High net debt to EBITDA (2.01x) increases financial risk in a downturn
Delta
No material change in assumptions vs yesterday's model. The same forward CAGR, margin target, WACC, and terminal grow…
No change
no change
GEMINIADJ
Est.
19.40
Gap
-33.9%
Conf
0.75
DCF 16.17Cal. 19.40
Key Drivers
  • Growth in renewable products (sustainable aviation fuel, renewable diesel) dr…
  • Strategic investments in production capacity for sustainable fuels.
  • Increasing global demand for lower-emission fuels due to environmental regula…
Top Risk
  • Volatility in crude oil and renewable feedstock prices impacting profitability.
  • Intense competition in the renewable fuels market from new entrants and established pla…
  • Regulatory changes or delays in policy support for sustainable fuels.
Delta
Adjusted revenue growth upwards reflecting a more optimistic renewable product outlook, while slightly moderating the…
CAGR
+1.0pp
MARG
-0.5pp
WACC
+0.5pp
assumptions adjustedmetric change
GROKADJ
Est.
19.40
Gap
-33.9%
Conf
0.75
DCF 16.17Cal. 19.40
Key Drivers
  • Strong strategic focus on renewable diesel and sustainable aviation fuel as c…
  • Expected revenue stabilization and growth driven by increasing demand for ren…
  • Margin expansion anticipated from a higher mix of value-added renewable produ…
Top Risk
  • Exposure to fluctuating energy commodity prices could impact revenue and profitability.
  • Regulatory changes in renewable fuel policies may alter demand dynamics.
  • Elevated net debt to EBITDA ratio (2.01) presents financial risk if growth underperforms.
Delta
Slight upward adjustment to revenue growth assumptions reflecting optimism in renewable segment demand, while other a…
CAGR
+0.5pp
MARG
+0.5pp
minor updaterevenue adjustment
CLAUDEINVALID
Est.
29.37
Gap
+0.0%
Conf
0.00
Delta
No previous data

Valuation Assumptions

DEEPSEEKGEMINIGPTGROK
Revenue CAGR 5Y3.0%3.5%
+1.0pp
4.0%4.0%
+0.5pp
EBIT Margin Target8.0%7.5%
-0.5pp
12.0%7.5%
+0.5pp
WACC9.3%9.0%
+0.5pp
8.8%9.2%
Terminal Growth2.0%2.0%2.0%2.0%

What Would Need to Be True?

AssumptionAI ConsensusMarket Price Implies
Revenue CAGR (5y)3.8%10.4%+6.6pp
EBIT Margin Target7.8%12.8%+5.0pp
WACC9.1%6.5%-2.6pp
Based on spot price 29.37 € and raw DCF model (before caps and calibration).

Fundamentals

EBIT Margin2.1%
EBITDA Margin9.3%
ROE9.8%
Net Debt / EBITDA2.0x
P/E Trailing31.5x
EV / EBITDA14.7x
P/B3.0x
Analyst Range
Neste Oyj, together with its subsidiaries, provides renewable diesel and sustainable aviation fuel in Finland, other Nordic countries, Baltic Rim, other European countries, the United States, and internationally. The company operates through Renewable Products, Oil Products, Marketing & Services segments. It produces, markets, and sells renewable diesel, sustainable aviation fuel, and related solutions. The company also provides various oil products, including diesel, gasoline, aviation and marine fuels, light and heavy fuel oils, gasoline components, and special fuels, such as small-engine gasoline, solvents, and liquid gases for retailers and distributors, oil majors and trading companies, and companies marketing lubricants and solvents. In addition, the company markets and sells lower emission fuels, oil products, and associated digital solutions to consumers, transport service providers, aviation, shipping, industrial and agricultural, and municipalities and heating fuel customers and fuel distributors; and markets transport fuels and electric vehicle charging services. The company was formerly known as Neste Oil Oyj and changed its name to Neste Oyj in June 2015. Neste Oyj was
Source: Yahoo Finance

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