I think NKT's total addressable market is restricted to Europe's offshore build out. Which, although ambitious, isn't enough to sustain NKT's now c25 P/E multiple. For one the EU's plan is to halve the per annum rate of GW offshore capacity construction from the 2030s to the 2040s. I explain my long term sell perspective on NKT's valuation here - https://carbonconclusions.substack.com/p/nkt .
Thank you for sharing! Agreed NKT wasn't even cheap when I wrote this, and now I'm considering selling at these levels. Interesting company though for sure.
I think NKT's total addressable market is restricted to Europe's offshore build out. Which, although ambitious, isn't enough to sustain NKT's now c25 P/E multiple. For one the EU's plan is to halve the per annum rate of GW offshore capacity construction from the 2030s to the 2040s. I explain my long term sell perspective on NKT's valuation here - https://carbonconclusions.substack.com/p/nkt .
Thank you for sharing! Agreed NKT wasn't even cheap when I wrote this, and now I'm considering selling at these levels. Interesting company though for sure.