Salmon Evolution ASA

DB:60E Stock Report

Market Cap: €259.9m

Salmon Evolution Valuation

Is 60E undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

1/6

Valuation Score 1/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 60E when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: Insufficient data to calculate 60E's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate 60E's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 60E?

Key metric: As 60E is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for 60E. This is calculated by dividing 60E's market cap by their current revenue.
What is 60E's PS Ratio?
PS Ratio7.4x
SalesNOK 410.89m
Market CapNOK 3.04b

Price to Sales Ratio vs Peers

How does 60E's PS Ratio compare to its peers?

The above table shows the PS ratio for 60E vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average0.7x
NLM FRoSTA
0.6xn/a€415.6m
SSH Südwestdeutsche Salzwerke
1.7xn/a€609.4m
SMB Schwälbchen Molkerei Jakob Berz
0.3xn/a€55.8m
SZU Südzucker
0.2x0.5%€2.2b
60E Salmon Evolution
7.4x41.2%€3.0b

Price-To-Sales vs Peers: 60E is expensive based on its Price-To-Sales Ratio (7.4x) compared to the peer average (0.7x).

Price to Sales Ratio vs Industry

How does 60E's PS Ratio compare vs other companies in the European Food Industry?

35 CompaniesPrice / SalesEstimated GrowthMarket Cap
60E 7.4xIndustry Avg. 0.7xNo. of Companies48PS00.81.62.43.24+
35 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: 60E is expensive based on its Price-To-Sales Ratio (7.4x) compared to the European Food industry average (0.7x).

Price to Sales Ratio vs Fair Ratio

What is 60E's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

60E PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.4x
Fair PS Ratio2.9x

Price-To-Sales vs Fair Ratio: 60E is expensive based on its Price-To-Sales Ratio (7.4x) compared to the estimated Fair Price-To-Sales Ratio (2.9x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst 60E forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€0.55
€0.83
+49.6%
7.6%€0.94€0.75n/a6
Nov ’25€0.55
€0.82
+48.8%
6.8%€0.92€0.76n/a5
Oct ’25€0.58
€0.83
+43.4%
7.1%€0.94€0.77n/a5
Sep ’25€0.56
€0.83
+49.6%
7.1%€0.94€0.77n/a5
Aug ’25€0.63
€0.88
+40.3%
6.1%€0.96€0.81n/a4
Jul ’25€0.67
€0.89
+33.1%
6.1%€0.97€0.82n/a4
Jun ’25€0.70
€0.86
+22.1%
5.4%€0.94€0.79n/a5
May ’25€0.60
€0.85
+41.7%
7.4%€0.95€0.75n/a5
Apr ’25€0.55
€0.87
+59.9%
7.4%€0.97€0.77n/a5
Mar ’25€0.55
€0.87
+59.3%
7.4%€0.97€0.77n/a5
Feb ’25€0.62
€0.85
+36.3%
9.0%€0.96€0.74n/a5
Jan ’25€0.61
€0.86
+42.6%
8.1%€0.93€0.76n/a4
Dec ’24€0.51
€0.86
+68.1%
8.1%€0.93€0.76n/a4
Nov ’24€0.50
€0.89
+77.4%
4.8%€0.93€0.85€0.554
Oct ’24€0.55
€0.94
+70.3%
7.7%€1.05€0.87€0.584
Sep ’24€0.53
€0.93
+75.5%
6.9%€1.04€0.86€0.565
Aug ’24€0.59
€0.97
+63.7%
4.6%€1.02€0.93€0.634
Jul ’24€0.53
€0.97
+84.9%
4.6%€1.02€0.93€0.674
Jun ’24€0.59
€0.97
+63.7%
4.6%€1.02€0.93€0.704
May ’24€0.66
€1.00
+53.2%
8.1%€1.12€0.95€0.603
Apr ’24€0.70
€1.06
+51.6%
7.6%€1.15€0.97€0.555
Mar ’24€0.76
€1.09
+44.2%
7.7%€1.19€1.01€0.555
Feb ’24€0.73
€1.12
+52.7%
5.9%€1.21€1.02€0.625
Jan ’24€0.76
€1.16
+52.8%
5.9%€1.25€1.06€0.615
Dec ’23€0.79
€1.16
+46.3%
5.9%€1.25€1.06€0.515
Nov ’23€0.87
€1.23
+40.6%
5.7%€1.32€1.12€0.505

Analyst Forecast: Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

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