Projected Income Statement: Mowi ASA

Forecast Balance Sheet: Mowi ASA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Net Debt 1 1,257 1,759 1,790 1,867 2,654 3,026 2,886 2,713
Change - 39.94% 1.76% 4.3% 42.15% 14.01% -4.63% -5.99%
Announcement Date 2/16/22 2/14/23 2/14/24 2/12/25 2/11/26 - - -
1EUR in Million
Estimates

Cash Flow Forecast: Mowi ASA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
CAPEX 1 244.7 335.2 396.3 374.2 376.2 404.5 338 344
Change - 36.98% 18.23% -5.58% 0.53% 7.52% -16.44% 1.78%
Free Cash Flow (FCF) 1 588.4 309.6 595.9 542.4 494.7 464.9 761.9 853.5
Change - -47.38% 92.47% -8.98% -8.79% -6.02% 63.89% 12.01%
Announcement Date 2/16/22 2/14/23 2/14/24 2/12/25 2/11/26 - - -
1EUR in Million
Estimates

Forecast Financial Ratios: Mowi ASA

Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028

Profitability

        
EBITDA Margin (%) 16.41% 23.85% 22.18% 18.38% 16.59% 21.84% 23.24% 24.48%
EBIT Margin (%) 12.42% 20.32% 18.66% 14.79% 12.71% 15.07% 16.83% 18.49%
EBT Margin (%) 14.84% 20.24% 16.32% 11.27% 14.6% 7.33% 14.47% 16.45%
Net margin (%) 12.16% 15.82% 8.07% 8.36% 12.55% 4.74% 10.44% 11.8%
FCF margin (%) 13.98% 6.26% 10.82% 9.68% 8.65% 7.27% 11.08% 11.77%
FCF / Net Income (%) 114.97% 39.57% 134.09% 115.77% 68.91% 153.52% 106.12% 99.73%

Profitability

        
ROA 9.93% 10.67% 5.64% 5.58% - - - -
ROE 17.3% 22.17% 12.52% 12.61% 11.66% 12.88% 16.67% 19.13%

Financial Health

        
Leverage (Debt/EBITDA) 1.82x 1.49x 1.47x 1.81x 2.8x 2.17x 1.81x 1.53x
Debt / Free cash flow 2.14x 5.68x 3x 3.44x 5.37x 6.51x 3.79x 3.18x

Capital Intensity

        
CAPEX / Current Assets (%) 5.82% 6.78% 7.2% 6.68% 6.58% 6.33% 4.92% 4.74%
CAPEX / EBITDA (%) 35.45% 28.42% 32.46% 36.33% 39.65% 28.97% 21.15% 19.37%
CAPEX / FCF (%) 41.59% 108.27% 66.5% 68.99% 76.05% 87.01% 44.36% 40.31%

Items per share

        
Cash flow per share 1 1.612 1.247 1.92 1.78 1.652 1.75 2.27 2.3
Change - -22.62% 53.98% -7.28% -7.23% 5.95% 29.71% 1.32%
Dividend per Share 1 0.3626 0.6739 0.6337 0.5649 0.5909 0.7826 0.9366 1.235
Change - 85.89% -5.97% -10.85% 4.6% 32.44% 19.67% 31.83%
Book Value Per Share 1 6.098 6.783 6.949 7.424 8.29 8.145 8.555 9.075
Change - 11.24% 2.45% 6.84% 11.66% -1.75% 5.03% 6.08%
EPS 1 0.99 1.51 0.86 0.91 1.38 0.5672 1.364 1.629
Change - 52.53% -43.05% 5.81% 51.65% -58.9% 140.49% 19.39%
Nbr of stocks (in thousands) 517,111 517,111 517,111 517,111 527,291 527,291 527,291 527,291
Announcement Date 2/16/22 2/14/23 2/14/24 2/12/25 2/11/26 - - -
1EUR
Estimates
2026 *2027 *
P/E 32.1x 13.3x
PBR 2.23x 2.13x
EV / Sales 1.97x 1.81x
Yield 4.3% 5.15%

EPS & Dividend



Y-o-Y evolution of P/E

 

Year-on-year evolution of the Yield

Trader
Investor
Global
Quality
ESG MSCI
AAA
Sell
Consensus
Buy
Mean consensus
OUTPERFORM
Number of Analysts
12
Last Close Price
18.19EUR
Average target price
20.83EUR
Spread / Average Target
+14.55%

Quarterly revenue - Rate of surprise

-40%: Exceptional extension
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