Gigante Salmon Valuation

Is 96M undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

3/6

Valuation Score 3/6

Below Fair Value
Significantly Below Fair Value
Price-To-Book vs Peers
Price-To-Book vs Industry
Price-To-Book vs Fair Ratio
Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of 96M when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: 96M (€0.68) is trading below our estimate of fair value (€4.89)

Significantly Below Fair Value: 96M is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for 96M?

Key metric: As 96M is unprofitable and pre-revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for 96M. This is calculated by dividing 96M's market cap by their current book value.
What is 96M's PB Ratio?
PB Ratio	2x
Book	NOK 715.62m
Market Cap	NOK 1.42b

96M key valuation metrics and ratios. From Price to Earnings, Price to Sales and Price to Book to Price to Earnings Growth Ratio, Enterprise Value and EBITDA.
Key Statistics
Enterprise Value/Revenue	-15250.2x
Enterprise Value/EBITDA	-531.5x
PEG Ratio	n/a

Price to Book Ratio vs Peers

How does 96M's PB Ratio compare to its peers?

The above table shows the PB ratio for 96M vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PB	Estimated Growth	Market Cap
Peer Average	3.1x
SMB Schwälbchen Molkerei Jakob Berz	1.5x	n/a	€55.8m
NLM FRoSTA	1.8x	n/a	€415.6m
SSH Südwestdeutsche Salzwerke	2.4x	n/a	€598.9m
VEZ Veganz Group	6.8x	n/a	€7.2m
96M Gigante Salmon	2x	142.5%	€1.4b

Price-To-Book vs Peers: 96M is good value based on its Price-To-Book Ratio (2x) compared to the peer average (3.1x).

Price to Book Ratio vs Industry

How does 96M's PB Ratio compare vs other companies in the European Food Industry?

8 Companies	Price / Book	Estimated Growth	Market Cap

8 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Book vs Industry: 96M is expensive based on its Price-To-Book Ratio (2x) compared to the European Food industry average (1.2x).

Price to Book Ratio vs Fair Ratio

What is 96M's PB Ratio compared to its Fair PB Ratio? This is the expected PB Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

96M PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio	2x
Fair PB Ratio	n/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate 96M's Price-To-Book Fair Ratio for valuation analysis.

Analyst Price Targets

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

Analyst Forecast: Target price is more than 20% higher than the current share price, but there are not enough analysts covering the stock to determine statistical confidence in agreement.

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