Company Valuation: SalMar ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 71,481 55,810 67,355 71,232 83,469 73,383 - -
Change - -21.92% 20.69% 5.76% 17.18% -12.08% - -
Enterprise Value (EV) 1 77,024 74,889 80,462 88,031 104,317 92,416 90,391 87,172
Change - -2.77% 7.44% 9.41% 18.5% -11.41% -2.19% -3.56%
P/E 26.9x 13.9x 23.4x 24x 75.3x 19.5x 13.8x 12.1x
PBR 5.41x 2.61x 3.76x 3.98x 4.71x 3.53x 3.21x 2.84x
PEG - 0.6x -1.9x -3.24x -1.2x 0x 0.3x 0.9x
Capitalization / Revenue 4.75x 2.77x 2.39x 2.7x 3.05x 2.37x 2.12x 1.96x
EV / Revenue 5.12x 3.72x 2.85x 3.33x 3.81x 2.99x 2.61x 2.33x
EV / EBITDA 20.6x 13.6x 8.43x 12.4x 17.9x 10.2x 8.06x 7.06x
EV / EBIT 26.3x 16.8x 9.95x 16.2x 27x 13x 9.87x 8.49x
EV / FCF 951x 38.3x 7.5x 27.4x 83.2x 20.2x 14.6x 13.5x
FCF Yield 0.11% 2.61% 13.3% 3.65% 1.2% 4.94% 6.83% 7.42%
Dividend per Share 2 20 20 35 22 10 21.56 26.32 27.06
Rate of return 3.29% 5.2% 6.15% 4.07% 1.62% 4% 4.89% 5.02%
EPS 2 22.61 27.64 24.3 22.5 8.2 27.6 39.05 44.47
Distribution rate 88.5% 72.4% 144% 97.8% 122% 78.1% 67.4% 60.8%
Net sales 1 15,044 20,158 28,219 26,426 27,394 30,901 34,612 37,370
EBITDA 1 3,734 5,502 9,540 7,120 5,812 9,101 11,216 12,350
EBIT 1 2,927 4,465 8,088 5,429 3,867 7,092 9,163 10,270
Net income 1 2,668 3,312 3,203 2,969 1,105 3,719 5,296 6,031
Net Debt 1 5,543 19,079 13,107 16,799 20,848 19,033 17,009 13,790
Reference price 2 608.00 384.80 569.20 540.50 617.50 538.50 538.50 538.50
Nbr of stocks (in thousands) 117,568 145,037 118,333 131,789 135,173 136,272 - -
Announcement Date 2/18/22 2/21/23 2/15/24 2/18/25 2/10/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
16.2x1.96x9.1x3.96% 11.47B
19.51x2.99x10.15x4% 7.75B
13.99x0.94x6.42x6.16% 2.68B
13.01x0.67x9.08x2.72% 2.4B
8.7x0.66x3.9x7.41% 1.87B
11.43x0.81x9.24x5.56% 1.55B
8.26x0.33x3.91x3.31% 1.13B
Average 13.01x 1.19x 7.40x 4.73% 4.12B
Weighted average by Cap. 15.57x 1.82x 8.60x 4.36%

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