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 74,200 - -
Change - -21.92% 20.69% 5.76% 17.18% -11.1% - -
Enterprise Value (EV) 1 77,024 74,889 80,462 88,031 104,317 95,015 93,917 91,282
Change - -2.77% 7.44% 9.41% 18.5% -8.92% -1.16% -2.81%
P/E 26.9x 13.9x 23.4x 24x 75.3x 23.2x 14.9x 12.7x
PBR 5.41x 2.61x 3.76x 3.98x 4.71x 3.96x 3.34x 2.94x
PEG - 0.6x -1.9x -3.24x -1.2x 0x 0.3x 0.7x
Capitalization / Revenue 4.75x 2.77x 2.39x 2.7x 3.05x 2.3x 2.07x 1.91x
EV / Revenue 5.12x 3.72x 2.85x 3.33x 3.81x 2.95x 2.62x 2.35x
EV / EBITDA 20.6x 13.6x 8.43x 12.4x 17.9x 11x 8.71x 7.57x
EV / EBIT 26.3x 16.8x 9.95x 16.2x 27x 14.5x 10.9x 9.22x
EV / FCF 951x 38.3x 7.5x 27.4x 83.2x 23.9x 17.1x 16.2x
FCF Yield 0.11% 2.61% 13.3% 3.65% 1.2% 4.18% 5.85% 6.18%
Dividend per Share 2 20 20 35 22 10 20.42 24.7 29.35
Rate of return 3.29% 5.2% 6.15% 4.07% 1.62% 3.75% 4.54% 5.39%
EPS 2 22.61 27.64 24.3 22.5 8.2 23.46 36.58 42.87
Distribution rate 88.5% 72.4% 144% 97.8% 122% 87% 67.5% 68.5%
Net sales 1 15,044 20,158 28,219 26,426 27,394 32,216 35,806 38,766
EBITDA 1 3,734 5,502 9,540 7,120 5,812 8,660 10,782 12,063
EBIT 1 2,927 4,465 8,088 5,429 3,867 6,549 8,627 9,903
Net income 1 2,668 3,312 3,203 2,969 1,105 3,255 5,026 5,976
Net Debt 1 5,543 19,079 13,107 16,799 20,848 20,815 19,717 17,081
Reference price 2 608.00 384.80 569.20 540.50 617.50 544.50 544.50 544.50
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.($)
22.59x2.89x10.74x3.85% 7.65B
31.97x1.95x8.97x4.34% 10.82B
24.44x1x6.75x6.14% 2.57B
12.14x0.63x8.74x2.89% 2.24B
16.54x0.7x4.56x8% 1.74B
11.22x0.81x9.32x5.63% 1.54B
8.08x0.33x3.77x3.42% 1.14B
24.78x - - 0.61% 417M
Average 18.97x 1.19x 7.55x 4.36% 3.52B
Weighted average by Cap. 23.98x 1.81x 8.77x 4.46%

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

  1. Stock Market
  2. Stocks
  3. SALM Stock
  4. Valuation SalMar ASA
-40%: Exceptional extension
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