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 69,294 - -
Change - -21.92% 20.69% 5.76% 17.18% -16.98% - -
Enterprise Value (EV) 1 77,024 74,889 80,462 88,031 104,317 87,878 85,895 82,665
Change - -2.77% 7.44% 9.41% 18.5% -15.76% -2.26% -3.76%
P/E 26.9x 13.9x 23.4x 24x 75.3x 18.2x 13x 11.4x
PBR 5.41x 2.61x 3.76x 3.98x 4.71x 3.34x 3.03x 2.68x
PEG - 0.6x -1.9x -3.24x -1.2x 0x 0.3x 0.8x
Capitalization / Revenue 4.75x 2.77x 2.39x 2.7x 3.05x 2.26x 2.02x 1.86x
EV / Revenue 5.12x 3.72x 2.85x 3.33x 3.81x 2.86x 2.5x 2.22x
EV / EBITDA 20.6x 13.6x 8.43x 12.4x 17.9x 9.64x 7.66x 6.69x
EV / EBIT 26.3x 16.8x 9.95x 16.2x 27x 12.4x 9.37x 8.04x
EV / FCF 951x 38.3x 7.5x 27.4x 83.2x 19.2x 14.3x 14.5x
FCF Yield 0.11% 2.61% 13.3% 3.65% 1.2% 5.21% 6.99% 6.88%
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% 4.24% 5.18% 5.32%
EPS 2 22.61 27.64 24.3 22.5 8.2 27.87 39.08 44.54
Distribution rate 88.5% 72.4% 144% 97.8% 122% 77.4% 67.3% 60.8%
Net sales 1 15,044 20,158 28,219 26,426 27,394 30,691 34,384 37,301
EBITDA 1 3,734 5,502 9,540 7,120 5,812 9,114 11,215 12,358
EBIT 1 2,927 4,465 8,088 5,429 3,867 7,105 9,162 10,278
Net income 1 2,668 3,312 3,203 2,969 1,105 3,728 5,296 6,037
Net Debt 1 5,543 19,079 13,107 16,799 20,848 18,584 16,600 13,371
Reference price 2 608.00 384.80 569.20 540.50 617.50 508.50 508.50 508.50
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.($)
18.25x2.86x9.64x4.24% 7.23B
15.01x1.89x8.76x4.09% 10.89B
13.2x0.92x6.27x6.57% 2.54B
13.11x0.65x9.05x2.7% 2.29B
8.23x0.64x3.75x7.75% 1.77B
11.17x0.78x8.82x5.55% 1.42B
8x0.33x3.85x3.41% 1.06B
Average 12.42x 1.15x 7.16x 4.9% 3.89B
Weighted average by Cap. 14.62x 1.76x 8.27x 4.53%

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

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