P/F Bakkafrost

DB:6BF Stock Report

Market Cap: €3.3b

P/F Bakkafrost Valuation

Is 6BF 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-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 6BF when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 6BF (€55.75) is trading above our estimate of fair value (€46.32)

Significantly Below Fair Value: 6BF is trading above our estimate of fair value.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 6BF?

Key metric: As 6BF is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for 6BF. This is calculated by dividing 6BF's market cap by their current earnings.
What is 6BF's PE Ratio?
PE Ratio43.4x
EarningsDKK 569.17m
Market CapDKK 24.69b

Price to Earnings Ratio vs Peers

How does 6BF's PE Ratio compare to its peers?

The above table shows the PE ratio for 6BF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average10.8x
SZU Südzucker
6.6x-10.2%€2.2b
SSH Südwestdeutsche Salzwerke
14.5xn/a€598.9m
NLM FRoSTA
12.2xn/a€412.2m
KWS KWS SAAT SE KGaA
10x-1.0%€2.0b
6BF P/F Bakkafrost
43.4x62.5%€38.7b

Price-To-Earnings vs Peers: 6BF is expensive based on its Price-To-Earnings Ratio (43.4x) compared to the peer average (10.8x).

Price to Earnings Ratio vs Industry

How does 6BF's PE Ratio compare vs other companies in the European Food Industry?

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
6BF 43.4xIndustry Avg. 13.4xNo. of Companies18PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: 6BF is expensive based on its Price-To-Earnings Ratio (43.4x) compared to the European Food industry average (13.4x).

Price to Earnings Ratio vs Fair Ratio

What is 6BF's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

6BF PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio43.4x
Fair PE Ratio53.9x

Price-To-Earnings vs Fair Ratio: 6BF is good value based on its Price-To-Earnings Ratio (43.4x) compared to the estimated Fair Price-To-Earnings Ratio (53.9x).

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 6BF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
Current€55.75
€62.01
+11.2%
6.1%€66.89€56.49n/a7
Nov ’25€55.15
€61.08
+10.8%
7.0%€67.82€55.55n/a7
Oct ’25€52.25
€59.28
+13.5%
7.7%€66.29€53.03n/a6
Sep ’25€48.26
€60.86
+26.1%
9.7%€67.91€53.04n/a6
Aug ’25€48.30
€61.14
+26.6%
10.1%€67.90€52.53n/a6
Jul ’25€47.64
€61.73
+29.6%
11.5%€70.21€52.54n/a6
Jun ’25€50.80
€61.59
+21.2%
11.3%€70.19€52.66n/a6
May ’25€56.65
€59.72
+5.4%
14.1%€68.54€47.34n/a6
Apr ’25€59.45
€59.31
-0.2%
12.0%€68.37€48.48n/a7
Mar ’25€58.10
€56.90
-2.1%
12.5%€68.41€48.51n/a7
Feb ’25€51.30
€51.16
-0.3%
13.1%€61.48€43.99n/a7
Jan ’25€46.82
€47.44
+1.3%
12.4%€61.01€41.97n/a7
Dec ’24€45.26
€47.07
+4.0%
13.0%€60.99€41.78n/a7
Nov ’24€42.52
€49.13
+15.5%
16.6%€68.57€42.22€55.157
Oct ’24€47.22
€52.19
+10.5%
12.3%€65.11€45.75€52.256
Sep ’24€46.18
€53.70
+16.3%
11.7%€65.07€45.72€48.266
Aug ’24€53.05
€65.25
+23.0%
7.2%€72.79€60.36€48.306
Jul ’24€55.10
€65.44
+18.8%
7.4%€71.70€58.89€47.646
Jun ’24€61.25
€66.16
+8.0%
8.6%€75.21€58.63€50.806
May ’24€64.50
€64.16
-0.5%
7.8%€75.14€59.45€56.657
Apr ’24€58.10
€62.66
+7.8%
9.0%€75.19€56.48€59.457
Mar ’24€61.75
€62.37
+1.0%
10.5%€77.44€56.53€58.107
Feb ’24€56.60
€58.65
+3.6%
4.3%€62.46€55.14€51.307
Jan ’24€59.30
€56.67
-4.4%
7.5%€62.47€50.58€46.827
Dec ’23€53.10
€54.85
+3.3%
5.6%€60.34€50.56€45.266
Nov ’23€51.20
€59.92
+17.0%
16.9%€81.64€51.67€42.526

Analyst Forecast: Target price is less than 20% higher than the current share price.

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