Andfjord Salmon Group AS

OB:ANDF Stock Report

Market Cap: NOK 3.5b

Andfjord Salmon Group Future Growth

Future criteria checks 5/6

Andfjord Salmon Group is forecast to grow earnings and revenue by 58.9% and 45.6% per annum respectively. EPS is expected to grow by 94.7% per annum. Return on equity is forecast to be 5.2% in 3 years.

Key information

58.9%

Earnings growth rate

94.67%

EPS growth rate

Food earnings growth20.9%
Revenue growth rate45.6%
Future return on equity5.20%
Analyst coverage

Low

Last updated04 Jun 2026

Recent future growth updates

Recent updates

Narrative Update • Jun 26

ANDF: Future Equity Issuance And Lockups Will Shape Share Performance

Analysts have revised their price target for Andfjord Salmon Group to NOK33 from NOK41.67, reflecting updated assumptions on revenue growth, profit margins, and future P/E expectations. What’s in the News for Andfjord Salmon Group Andfjord Salmon Group completed a follow on equity offering totaling NOK 385.022743 million, consisting of 11,491,566 ordinary shares and an additional 2,509,261 ordinary shares, all priced at NOK 27.5, in a transaction structured as a subsequent direct listing.
Analysis Article • May 30

Is Andfjord Salmon Group (OB:ANDF) A Risky Investment?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Nov 06

Health Check: How Prudently Does Andfjord Salmon Group (OB:ANDF) Use Debt?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Dec 15

Health Check: How Prudently Does Andfjord Salmon (OB:ANDF) Use Debt?

David Iben put it well when he said, 'Volatility is not a risk we care about. What we care about is avoiding the...
Analysis Article • Jan 27

Is Andfjord Salmon (OB:ANDF) Using Debt In A Risky Way?

Legendary fund manager Li Lu (who Charlie Munger backed) once said, 'The biggest investment risk is not the volatility...
Analysis Article • Mar 14

What Kind Of Investors Own Most Of Andfjord Salmon AS (OB:ANDF)?

If you want to know who really controls Andfjord Salmon AS ( OB:ANDF ), then you'll have to look at the makeup of its...

Earnings and Revenue Growth Forecasts

OB:ANDF - Analysts future estimates and past financials data (NOK Millions)
DateRevenueEarningsFree Cash FlowCash from OpAvg. No. Analysts
12/31/20281,491224-751403
12/31/20271,12995-941-5054
12/31/2026314-133-993-2793
3/31/20261-110-1,897-225N/A
12/31/20251-104-2,169-179N/A
9/30/20251-108-2,468-114N/A
6/30/20251-78-2,400-98N/A
3/31/20250-70-1,725-69N/A
12/31/20240-68-1,278-70N/A
9/30/20240-59-1,276-44N/A
6/30/202428-72-775-19N/A
3/31/202437-71-362-35N/A
12/31/202337-70-356-29N/A
9/30/202337-79-138-42N/A
6/30/202310-68-177-112N/A
3/31/2023N/A-61-183-87N/A
12/31/2022N/A-57-184-88N/A
9/30/2022N/A-47-271-56N/A
6/30/2022N/A-41-188-16N/A
3/31/2022N/A-37-217-2N/A
12/31/2021N/A-34-226-10N/A
9/30/2021N/A-33-90-28N/A
6/30/2021N/A-25-231-29N/A
3/31/2021N/A-23-172-37N/A
12/31/2020N/A-19-171-6N/A
9/30/2020-2-15-138-11N/A
6/30/2020N/A-10-11110N/A
3/31/2020N/A-8-766N/A
12/31/2019N/A-6N/A-2N/A
12/31/20180-6N/AN/AN/A

Analyst Future Growth Forecasts

Earnings vs Savings Rate: ANDF is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (3.3%).

Earnings vs Market: ANDF is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ANDF is expected to become profitable in the next 3 years.

Revenue vs Market: ANDF's revenue (45.6% per year) is forecast to grow faster than the Norwegian market (2.7% per year).

High Growth Revenue: ANDF's revenue (45.6% per year) is forecast to grow faster than 20% per year.

Earnings per Share Growth Forecasts

Future Return on Equity

Future ROE: ANDF's Return on Equity is forecast to be low in 3 years time (5.2%).

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2026/07/08 17:10
End of Day Share Price 2026/07/08 00:00
Earnings2026/03/31
Annual Earnings2025/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

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Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

Andfjord Salmon Group AS is covered by 3 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Henrik Andre LarsenDNB Carnegie
Theodor RosenbergFearnley Securities
Mindaugas CekanaviciusNorne Securities AS