Company Valuation: Mowi ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 10,819 8,212 8,397 8,534 10,862 9,978 - -
Change - -24.1% 2.25% 1.64% 27.27% -8.14% - -
Enterprise Value (EV) 1 12,077 9,971 10,187 10,402 13,516 13,020 12,886 12,713
Change - -17.44% 2.17% 2.11% 29.94% -3.67% -1.03% -1.34%
P/E 21.1x 10.5x 18.9x 18.1x 14.9x 34.4x 14.1x 11.7x
PBR 3.43x 2.34x 2.34x 2.22x 2.48x 2.33x 2.23x 2.12x
PEG - 0.2x -0.4x 3.11x 0.3x -0.6x 0x 0.6x
Capitalization / Revenue 2.57x 1.66x 1.53x 1.52x 1.9x 1.55x 1.46x 1.39x
EV / Revenue 2.87x 2.02x 1.85x 1.86x 2.36x 2.02x 1.88x 1.77x
EV / EBITDA 17.5x 8.45x 8.34x 10.1x 14.2x 9.46x 8.22x 7.26x
EV / EBIT 23.1x 9.92x 9.91x 12.5x 18.6x 13.6x 11.2x 9.46x
EV / FCF 20.5x 32.2x 17.1x 19.2x 27.3x 28x 16.8x 14.8x
FCF Yield 4.87% 3.11% 5.85% 5.21% 3.66% 3.57% 5.96% 6.75%
Dividend per Share 2 0.3626 0.6739 0.6337 0.5649 0.5909 0.7714 0.945 1.229
Rate of return 1.73% 4.24% 3.9% 3.42% 2.87% 4.08% 4.99% 6.5%
EPS 2 0.99 1.51 0.86 0.91 1.38 0.5507 1.344 1.615
Distribution rate 36.6% 44.6% 73.7% 62.1% 42.8% 140% 70.3% 76.1%
Net sales 1 4,208 4,946 5,506 5,604 5,720 6,442 6,853 7,202
EBITDA 1 690.3 1,179 1,221 1,030 948.9 1,376 1,567 1,751
EBIT 1 522.6 1,005 1,028 828.9 726.8 957.6 1,148 1,344
Net income 1 511.8 782.4 444.4 468.5 717.9 294.9 709.1 851.2
Net Debt 1 1,257 1,759 1,790 1,867 2,654 3,043 2,908 2,736
Reference price 2 20.92 15.88 16.24 16.50 20.60 18.92 18.92 18.92
Nbr of stocks (in thousands) 517,111 517,111 517,111 517,111 527,291 527,291 - -
Announcement Date 2/16/22 2/14/23 2/14/24 2/12/25 2/11/26 - - -
1EUR in Million2EUR
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
34.89x2.04x9.57x4.02% 11.76B
25.08x3.08x11.6x3.82% 8.41B
26.38x1.1x7.44x5.4% 2.94B
13.15x0.66x9.08x2.68% 2.42B
19.02x0.76x4.91x7.17% 1.95B
11.09x0.8x9.11x5.73% 1.5B
8.79x0.34x3.92x3.14% 1.24B
Average 19.77x 1.26x 7.95x 4.56% 4.32B
Weighted average by Cap. 26.31x 1.91x 9.33x 4.24%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield