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Market Closed -
Oslo Bors
10:45:00 2026-10-16 EDT
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5-day change | 1st Jan Change | ||
| 547.00 NOK | -0.73% |
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-0.73% | -11.42% |
| 10-06 | SalMar ASA Announces Consolidated Operating Results for the Third Quarter of 2026 | CI |
| 10-02 | Goldman Sachs sees new profitability era for salmon sector | FW |
Projected Income Statement: SalMar ASA
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net sales 1 | 15,044 | 20,158 | 28,219 | 26,426 | 27,394 | 32,305 | 36,655 | 39,423 |
| Change | - | 33.99% | 39.99% | -6.35% | 3.66% | 17.93% | 13.46% | 7.55% |
| EBITDA 1 | 3,734 | 5,502 | 9,540 | 7,120 | 5,812 | 8,700 | 10,904 | 12,181 |
| Change | - | 47.35% | 73.39% | -25.37% | -18.37% | 49.69% | 25.33% | 11.71% |
| EBIT 1 | 2,927 | 4,465 | 8,088 | 5,429 | 3,867 | 6,573 | 8,734 | 9,999 |
| Change | - | 52.55% | 81.14% | -32.88% | -28.77% | 69.98% | 32.88% | 14.48% |
| Interest Paid 1 | -169 | -335.8 | -1,172 | -1,220 | -1,417 | -1,207 | -1,240 | -1,179 |
| Earnings before Tax (EBT) 1 | 3,387 | 4,562 | 7,279 | 4,201 | 1,691 | 4,382 | 7,646 | 8,830 |
| Change | - | 34.69% | 59.56% | -42.29% | -59.75% | 159.14% | 74.48% | 15.49% |
| Net income 1 | 2,668 | 3,312 | 3,203 | 2,969 | 1,105 | 3,282 | 5,095 | 6,013 |
| Change | - | 24.14% | -3.29% | -7.31% | -62.78% | 196.97% | 55.27% | 18.02% |
| Announcement Date | 2/18/22 | 2/21/23 | 2/15/24 | 2/18/25 | 2/10/26 | - | - | - |
Forecast Balance Sheet: SalMar ASA
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| Net Debt 1 | 5,543 | 19,079 | 13,107 | 16,799 | 20,848 | 20,818 | 20,326 | 17,869 |
| Change | - | 244.2% | -31.3% | 28.17% | 24.1% | -0.14% | -2.36% | -12.09% |
| Announcement Date | 2/18/22 | 2/21/23 | 2/15/24 | 2/18/25 | 2/10/26 | - | - | - |
Cash Flow Forecast: SalMar ASA
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
| CAPEX 1 | 2,827 | 2,455 | 2,348 | 2,523 | 1,935 | 1,247 | 1,640 | 1,648 |
| Change | - | -13.16% | -4.35% | 7.45% | -23.31% | -35.58% | 31.58% | 0.46% |
| Free Cash Flow (FCF) 1 | 81 | 1,957 | 10,731 | 3,214 | 1,254 | 4,142 | 5,360 | 5,572 |
| Change | - | 2,316.59% | 448.22% | -70.05% | -60.98% | 230.32% | 29.41% | 3.95% |
| Announcement Date | 2/18/22 | 2/21/23 | 2/15/24 | 2/18/25 | 2/10/26 | - | - | - |
Forecast Financial Ratios: SalMar ASA
| Fiscal Period: December | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 | 2027 | 2028 |
|---|---|---|---|---|---|---|---|---|
Profitability | ||||||||
| EBITDA Margin (%) | 24.82% | 27.29% | 33.81% | 26.94% | 21.22% | 26.93% | 29.75% | 30.9% |
| EBIT Margin (%) | 19.46% | 22.15% | 28.66% | 20.54% | 14.12% | 20.35% | 23.83% | 25.36% |
| EBT Margin (%) | 22.51% | 22.63% | 25.79% | 15.9% | 6.17% | 13.56% | 20.86% | 22.4% |
| Net margin (%) | 17.73% | 16.43% | 11.35% | 11.24% | 4.03% | 10.16% | 13.9% | 15.25% |
| FCF margin (%) | 0.54% | 9.71% | 38.03% | 12.16% | 4.58% | 12.82% | 14.62% | 14.13% |
| FCF / Net Income (%) | 3.04% | 59.1% | 335.03% | 108.25% | 113.48% | 126.23% | 105.2% | 92.66% |
Profitability | ||||||||
| ROA | 9.64% | 7.31% | 5.53% | 5.51% | - | - | - | - |
| ROE | 23.12% | 20.33% | 16.32% | 15.7% | 6.2% | 18.1% | 24.19% | 25.36% |
Financial Health | ||||||||
| Leverage (Debt/EBITDA) | 1.48x | 3.47x | 1.37x | 2.36x | 3.59x | 2.39x | 1.86x | 1.47x |
| Debt / Free cash flow | 68.43x | 9.75x | 1.22x | 5.23x | 16.63x | 5.03x | 3.79x | 3.21x |
Capital Intensity | ||||||||
| CAPEX / Current Assets (%) | 18.79% | 12.18% | 8.32% | 9.55% | 7.06% | 3.86% | 4.48% | 4.18% |
| CAPEX / EBITDA (%) | 75.71% | 44.62% | 24.61% | 35.44% | 33.29% | 14.33% | 15.04% | 13.53% |
| CAPEX / FCF (%) | 3,490.12% | 125.41% | 21.88% | 78.5% | 154.31% | 30.1% | 30.6% | 29.57% |
Items per share | ||||||||
| Cash flow per share 1 | 25.09 | 35.19 | 68.2 | 40.77 | 23.78 | 37.88 | 53.1 | 47.96 |
| Change | - | 40.29% | 93.79% | -40.23% | -41.67% | 59.3% | 40.19% | -9.69% |
| Dividend per Share 1 | 20 | 20 | 35 | 22 | 10 | 19.58 | 24.36 | 29.71 |
| Change | - | 0% | 75% | -37.14% | -54.55% | 95.8% | 24.43% | 21.94% |
| Book Value Per Share 1 | 112.3 | 147.3 | 151.4 | 135.8 | 131.1 | 140 | 163.6 | 185.1 |
| Change | - | 31.14% | 2.82% | -10.33% | -3.46% | 6.82% | 16.81% | 13.2% |
| EPS 1 | 22.61 | 27.64 | 24.3 | 22.5 | 8.2 | 23.92 | 37.1 | 43.25 |
| Change | - | 22.25% | -12.08% | -7.41% | -63.56% | 191.75% | 55.1% | 16.57% |
| Nbr of stocks (in thousands) | 117,568 | 145,037 | 118,333 | 131,789 | 135,173 | 136,272 | 136,272 | 136,272 |
| Announcement Date | 2/18/22 | 2/21/23 | 2/15/24 | 2/18/25 | 2/10/26 | - | - | - |
| 2026 * | 2027 * | |
|---|---|---|
| P/E | 22.9x | 14.7x |
| PBR | 3.91x | 3.34x |
| EV / Sales | 2.95x | 2.59x |
| Yield | 3.58% | 4.45% |
EPS & Dividend
Y-o-Y evolution of P/E
Year-on-year evolution of the Yield
Trader
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ESG MSCI
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Quarterly revenue - Rate of surprise
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- Financials SalMar ASA
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