Added to YB: 2025-06-20
Pitch date: 2025-06-18
NESF.L [neutral]
NextEnergy Solar Fund Limited
-23.26%
current return
Author Info
The Oak Bloke shares analysis of the UK stock market, particularly overlooked small caps. Sign up for the newsletter.
Company Info
NextEnergy Solar Fund Limited specializes in investments in operational solar photovoltaic (PV) assets.
Market Cap
GBP 403.8M
Pitch Price
GBP 0.66
Price Target
N/A
Dividend
N/A
EV/EBITDA
N/A
P/E
-37.74
EV/Sales
13.73
Sector
Capital Markets
Category
value
NESF - is it crackin'?
NESF.L pass: UK solar fund at 4.1x EBITDA/10.2x EBIT misleading due to including asset sale gains (£8.6M) & loan repayments. True EBIT only £2.4M. Heavy debt requires selling 2/3 of portfolio. NAV inflated by lower discount rate vs SEIT (8% vs 9.4%). Selling best assets first while facing declining subsidies & rising costs.
Read full article (6 min)