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    Semiconductors
REC Silicon ASA

REC Silicon ASA

RECSI.OL
REC Silicon ASANO flagOslo Stock Exchange
0.23
NOK
- -
- -
94.35MMarket Cap
REC Silicon ASA
RECSI.OL
(Oslo Stock Exchange)

Recent

price

0.23

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
14.81
7.94
2.23
1.21
1.43
0.91
0.71
0.72
0.58
0.4
0.28
0.26
0.24
0.22
0.22
0.12
0.05
Revenue per Share
1.06
-8.39
-4.38
-1.02
0.62
-0.17
-0.39
-0.92
-0.9
-0.31
-0.11
-0.05
-0.14
0.05
-0.73
-0.1
-0.03
Basic EPS, GAAP
-2.11
1.98
0.73
-0.11
0.15
-0.15
-0.03
0.1
-0.03
-0.04
-0.01
-0.04
-0.16
-0.37
-0.36
-0.14
-0.04
Free Cash Flow per Basic Share
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Dividend per Share
5.17
-7.55
-2.85
-5.16
-4.87
-5.07
-5.19
1.53
1.53
0.11
0.12
0.1
0.09
0.09
0.09
0.09
0.04
Book Value per Share
22.6
9.64
5.1
2.71
2.98
2.49
2.01
1.14
0.25
- -
0.13
0.06
0.1
0.12
-0.6
-0.7
-0.29
Tangible Book Value per Share
158
200
246
346
346
361
380
380
380
404
437
556
624
628
628
628
1,589
Basic Weighted Avg Shares
2,343
1,592
549
418
493
330
271
272
221
160
122
143
148
141
141
78
76
Sales/Revenue/Turnover
7.67
2.57
-49.43
-22.84
-0.49
-44.59
-46.02
-46.7
-29.79
-37.64
-26.86
-14.04
-38.9
-23.65
-20.24
-41.18
-47.12
Operating Margin (%)
429
2,073
1,368
154
139
286
185
147
402
70
63
28
23
22
271
18
17
Depreciation Expense
168
-1,680
-1,079
-353
213
-63
-147
-351
-342
-127
-47
-30
-87
30
-457
-63
-53
Net Income, GAAP
51.13
- -
- -
- -
2.47
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
- -
Effective Tax Rate (%)
7.18
-105.58
-196.77
-84.46
43.16
-18.98
-54.35
-128.71
-154.43
-79.28
-38.25
-21.02
-58.73
21.66
-324.86
-80.69
-69.63
Profit Margin (%)
674
698
660
58
260
192
150
-41
45
-2
149
134
7
156
-116
-466
-479
Working Capital
1,461
1,024
674
225
190
139
144
- -
109
151
188
183
70
315
308
42
41
LT Debt
3,768
2,043
1,278
956
1,054
921
782
449
107
1
59
33
60
76
-378
-440
-456
Total Equity
1.7
- -
- -
- -
-0.18
- -
- -
- -
- -
- -
- -
- -
- -
-9.95
- -
- -
- -
Return on Invested Capital (%)
9.55
- -
- -
- -
-15.77
- -
- -
- -
- -
- -
- -
- -
- -
14.76
- -
- -
- -
Return on Capital (%)
17.36
- -
- -
- -
- -
- -
- -
- -
-58.94
-40.76
-96.09
-56.05
-153.76
51.52
-772.64
-106.59
-89.86
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
6
449
7
LT Borrowings
- -
- -
- -
LT Finance Leases
44
42
41
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
628
628
4,499
Market Capitalization
93
64
45

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
45
42
42
Cash, Cash Equivalents & STI
10
7
5
Accounts Receivable, Net
7
8
9
Inventories
22
20
19
Total Current Liabilities
464
508
522
Payables & Accruals
- -
- -
- -
ST Debt
6
449
7
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
652.77%
-102.82%
16.5%
Free Cash Flow
25.31%
190.68%
-61.62%
Net Income, GAAP
-152.35%
-333.64%
-86.2%
Sales/Revenue/Turnover
- -
- -
-44.46%
Total Cash Common Dividend
- -
- -
- -

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
42
36
33
30
141
2025
21
20
17
20
78
2026
20
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
-0.06
-0.08
-0.09
-0.5
-0.73
2025
-0.04
-0.01
-0.02
-0.03
-0.1
2026
- -
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
- -
- -
- -
- -
- -
2025
- -
- -
- -
- -
- -
2026
- -
- -
- -
- -
- -
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Business
REC Silicon ASA produces high-purity silicon materials, including Signature Silane gas, specialty silicon gases such as dichlorosilane and monochlorosilane, electronic-grade polysilicon, and granular polysilicon for solar applications; it supplies these products to the solar, semiconductor, flat panel display, and electronics industries worldwide. The company operates manufacturing facilities in Moses Lake, Washington, and Butte, Montana, with a combined silane gas production capacity exceeding 30,000 metric tons annually; sales support extends to offices in the United States and Asia. Founded in 1996 and headquartered in Lysaker, Norway, REC Silicon lists on the Oslo Stock Exchange under the ticker RECSI.OL and segments its business into semiconductor materials from Butte and solar materials from Moses Lake. In recent developments, Hanwha Corporation and Hanwha Solutions, operating through Anchor AS, launched a voluntary cash offer in April 2025 at NOK 2.2 per share to acquire all outstanding shares, achieving a majority stake by early September 2025 after overcoming minority shareholder opposition and board changes; this followed the discontinuation of polysilicon production at Moses Lake and secured short-term loans totaling over USD 20 million from Hanwha affiliates in July through October 2025 to address urgent operational funding needs amid financial challenges, with plans for potential delisting and integration into the Hanwha group.