Aker BioMarine Valuation

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

AKBMO (NOK95.6) is trading below our estimate of [[fair value]] (NOK341.12)

Is AKBMO 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-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 AKBMO when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Below Fair Value: AKBMO (NOK95.6) is trading below our estimate of fair value (NOK341.12)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for AKBMO. This is calculated by dividing AKBMO's market cap by their current revenue.
What is AKBMO's PS Ratio?
PS Ratio	1.2x
Sales	US$338.40m
Market Cap	US$400.72m

AKBMO 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	1.7x
Enterprise Value/EBITDA	10.2x
PEG Ratio	n/a

Price to Sales Ratio vs Peers

How does AKBMO's PS Ratio compare to its peers?

The above table shows the PS ratio for AKBMO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
Company	Forward PS	Estimated Growth	Market Cap
Peer Average	1.2x
BMK Benchmark Holdings	1.8x	14.2%	UK£261.5m
MHPC MHP	0.2x	n/a	US$452.8m
HOTC Hotel Chocolat Group	2.6x	5.4%	UK£526.6m
BAKK Bakkavor Group	0.3x	1.9%	UK£751.9m
AKBMO Aker BioMarine	1.2x	1.6%	NOK 4.3b

Price-To-Sales vs Peers: AKBMO is good value based on its Price-To-Sales Ratio (1.2x) compared to the peer average (1.6x).

Price to Sales Ratio vs Industry

How does AKBMO's PS Ratio compare vs other companies in the GB Food Industry?

5 Companies	Price / Sales	Estimated Growth	Market Cap
MHPC MHP	0.2x	n/a	US$452.77m
WYN Wynnstay Group	0.1x	-3.5%	US$89.41m
RGD Real Good Food	0.04x	n/a	US$1.84m
UKR Ukrproduct Group	0.03x	n/a	US$1.12m

5 Companies		Estimated Growth	Market Cap

No more companies

Price-To-Sales vs Industry: AKBMO is expensive based on its Price-To-Sales Ratio (1.2x) compared to the UK Food industry average (0.8x).

Price to Sales Ratio vs Fair Ratio

What is AKBMO'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.

AKBMO PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio	1.2x
Fair PS Ratio	n/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate AKBMO's Price-To-Sales 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: Insufficient data to show price forecast.

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