In this equity report, analysts Colin Pettersson and Jonas Höyby Fathi takes a closer look on Cambi, the
global leading provider of thermal hydrolysis plants (THP), which help water treatment plants turn
climate neutral and cut operational costs with 50.0%. With growing demand, the analysts estimates a
topline CAGR of 17.2% until 2026E, with sustainable EBIT margins in the 21.0-22.0% range. Through an
equally weighted DCF and peer valuation, a target price of NOK 20.5 is implied, indicating a potential
upside of 40.4%.
Investment highlights:
- Regulations positioning Cambi for rapid growth
- Rippling effects drive stable long term growth
- Scalable business model allows for continued high margins