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Norwegian (OSEAX) Food Industry Analysis

UpdatedSep 29, 2025
DataAggregated Company Financials
Companies24
  • 7D-1.9%
  • 3M5.8%
  • 1Y1.5%
  • YTD-0.7%

Over the last 7 days, the Food industry has dropped 1.7%, driven by pullbacks in SalMar and Orkla of 3.0% and 1.9%, respectively. In contrast, Måsøval has gained 5.8%. Over the last year, the industry has been flat overall. Looking forward, earnings are forecast to grow by 41% annually.

Industry Valuation and Performance

Has the Norwegian Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Sep 2025NOK 401.7bNOK 262.6bNOK 6.9b25.5x58.6x1.5x
Wed, 27 Aug 2025NOK 397.2bNOK 262.7bNOK 7.6b22.9x52.4x1.5x
Fri, 25 Jul 2025NOK 383.2bNOK 260.9bNOK 10.0b22.4x38.5x1.5x
Sun, 22 Jun 2025NOK 372.8bNOK 258.4bNOK 10.2b21.5x36.5x1.4x
Tue, 20 May 2025NOK 396.4bNOK 258.0bNOK 12.6b22.9x31.6x1.5x
Thu, 17 Apr 2025NOK 397.1bNOK 260.2bNOK 15.5b21.3x25.7x1.5x
Sat, 15 Mar 2025NOK 398.4bNOK 257.0bNOK 15.4b21.3x25.9x1.5x
Mon, 10 Feb 2025NOK 418.5bNOK 256.1bNOK 16.2b22.5x25.8x1.6x
Wed, 08 Jan 2025NOK 392.7bNOK 257.0bNOK 16.3b20.9x24.1x1.5x
Fri, 06 Dec 2024NOK 413.6bNOK 256.0bNOK 16.4b22.4x25.3x1.6x
Sun, 03 Nov 2024NOK 397.2bNOK 259.0bNOK 17.2b18.3x23.1x1.5x
Tue, 01 Oct 2024NOK 388.2bNOK 256.8bNOK 17.7b17.4x21.9x1.5x
Thu, 29 Aug 2024NOK 386.9bNOK 256.2bNOK 17.8b17.8x21.7x1.5x
Sat, 27 Jul 2024NOK 378.7bNOK 257.4bNOK 10.7b35.6x35.5x1.5x
Mon, 24 Jun 2024NOK 380.5bNOK 252.9bNOK 10.1b40.3x37.6x1.5x
Wed, 22 May 2024NOK 396.0bNOK 254.6bNOK 10.3b40.2x38.4x1.6x
Fri, 19 Apr 2024NOK 382.3bNOK 254.3bNOK 13.4b29.8x28.5x1.5x
Sun, 17 Mar 2024NOK 390.4bNOK 251.1bNOK 13.2b36.1x29.5x1.6x
Tue, 13 Feb 2024NOK 353.4bNOK 244.3bNOK 9.4b57.4x37.7x1.4x
Thu, 11 Jan 2024NOK 369.6bNOK 251.1bNOK 9.6b48.9x38.6x1.5x
Sat, 09 Dec 2023NOK 364.6bNOK 253.8bNOK 9.7b48.9x37.7x1.4x
Mon, 06 Nov 2023NOK 358.3bNOK 251.0bNOK 11.0b36.6x32.6x1.4x
Wed, 04 Oct 2023NOK 370.1bNOK 245.5bNOK 10.9b36.4x34.1x1.5x
Fri, 01 Sep 2023NOK 370.3bNOK 246.7bNOK 11.0b36.4x33.7x1.5x
Sun, 30 Jul 2023NOK 354.6bNOK 239.7bNOK 26.8b13.5x13.2x1.5x
Tue, 27 Jun 2023NOK 345.4bNOK 240.0bNOK 27.4b14.6x12.6x1.4x
Thu, 25 May 2023NOK 376.7bNOK 240.7bNOK 27.6b15.6x13.6x1.6x
Sat, 22 Apr 2023NOK 385.0bNOK 227.1bNOK 25.7b19.2x15x1.7x
Mon, 20 Mar 2023NOK 347.5bNOK 225.9bNOK 25.2b17.2x13.8x1.5x
Wed, 15 Feb 2023NOK 362.4bNOK 214.1bNOK 26.4b16.5x13.7x1.7x
Fri, 13 Jan 2023NOK 355.6bNOK 213.1bNOK 26.3b14.9x13.5x1.7x
Sun, 11 Dec 2022NOK 330.4bNOK 211.8bNOK 26.1b13.5x12.7x1.6x
Tue, 08 Nov 2022NOK 306.1bNOK 202.3bNOK 25.0b13x12.2x1.5x
Thu, 06 Oct 2022NOK 296.6bNOK 202.9bNOK 25.0b11.8x11.9x1.5x
Price to Earnings Ratio

11.9x


Total Market Cap: NOK 296.6bTotal Earnings: NOK 25.0bTotal Revenue: NOK 202.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Food Industry Price to Earnings3Y Average 26.8x202320242025
Current Industry PE
  • Investors are optimistic on the Norwegian Food industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 58.6x which is higher than its 3-year average PE of 26.7x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 35% per year over the last three years.
  • Meanwhile revenues for these companies have grown 9.0% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Norwegian Consumer Staples industry?

NO Market1.78%
Consumer Staples-1.94%
Food-1.94%
Agricultural Products0%0
Packaged Foods and Meats-1.94%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry which is trading above its 3-year average PE ratio of 26.7x.
    • Analysts are expecting annual earnings growth of 41.0%, which is higher than its past year's earnings decline of 27.9% per year.
  • Investors are most pessimistic about the Packaged Foods and Meats industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 26.7x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 41% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 41% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
NOAP Nordic Aqua PartnersNOK 93.4010.1%
+NOK 182.4m		18.2%PS18.4x
MAS MåsøvalNOK 25.602.4%
+NOK 73.5m		-13.2%PS1.3x
GIGA Gigante SalmonNOK 8.580.9%
+NOK 13.7m		22.6%PS32.9x
BARRA Barramundi GroupNOK 0.7020.7%
+NOK 9.8m		-68.2%PS0.5x
ASA Atlantic SapphireNOK 7.752.6%
+NOK 7.2m		-80.6%PS0.8x

Latest News

AKBM
NOK 84.30
Aker BioMarine
7D
-6.3%
1Y
71.5%

Would Aker BioMarine (OB:AKBM) Be Better Off With Less Debt?

Sep 28
Would Aker BioMarine (OB:AKBM) Be Better Off With Less Debt?
BARRA
NOK 0.70
Barramundi Group
7D
20.7%
1Y
-68.2%
AUSS
NOK 96.00
Austevoll Seafood
7D
-0.8%
1Y
-0.7%
SALM
NOK 542.00
SalMar
7D
-3.1%
1Y
-2.1%

Integration With Wilsgård AS Will Expand Presence In Northern Norway

SalMar’s top valuation and profitability metrics were virtually unchanged, with only marginal adjustments in Future P/E and Net Profit Margin, resulting in a slight analyst price target increase from NOK527.14 to NOK535.71. What's in the News SalMar commenced a share repurchase program authorizing buybacks of up to 13,375,557 shares (10% of issued share capital), with a separate initiative to repurchase up to 100,000 shares for NOK 65 million to support employee incentive programs.
LSG
NOK 49.84
Lerøy Seafood Group
7D
-2.6%
1Y
3.0%

Farming Technologies And Vertical Integration Will Redefine Sustainable Aquaculture

Lerøy Seafood Group’s valuation metrics, including future P/E and consensus revenue growth forecasts, were virtually unchanged, resulting in only a marginal increase in the fair value price target from NOK56.50 to NOK57.33. Valuation Changes Summary of Valuation Changes for Lerøy Seafood Group The Consensus Analyst Price Target remained effectively unchanged, moving only marginally from NOK56.50 to NOK57.33.
AFISH
NOK 41.80
Arctic Fish Holding
7D
-16.4%
1Y
-13.3%
ASA
NOK 7.75
Atlantic Sapphire
7D
2.6%
1Y
-80.6%
MOWI
NOK 212.80
Mowi
7D
-1.5%
1Y
12.1%

Normalized Supply And Efficiency Will Unlock Salmon Value

Mowi’s consensus analyst price target was marginally lowered, reflecting stable expectations for both future P/E and net profit margin, with fair value revised slightly from NOK221.64 to NOK218.60. What's in the News Mowi declared a quarterly distribution of NOK 1.45 per share.
KING
NOK 5.00
Kingfish
7D
0.4%
1Y
-21.9%
BAKKA
NOK 470.00
P/F Bakkafrost
7D
-3.4%
1Y
-22.6%
MAS
NOK 25.60
Måsøval
7D
2.4%
1Y
-13.2%
ORK
NOK 103.90
Orkla
7D
-1.6%
1Y
4.5%

There's Reason For Concern Over Orkla ASA's (OB:ORK) Price

Aug 18
There's Reason For Concern Over Orkla ASA's (OB:ORK) Price
GIGA
NOK 8.58
Gigante Salmon
7D
0.9%
1Y
22.6%
NOAP
NOK 93.40
Nordic Aqua Partners
7D
10.1%
1Y
18.2%