SalMar Valuation

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

Discounted Cash Flow
Simply Wall St
NOK 1.91k
Fair Value
71.2% undervalued intrinsic discount
9
Number of Analysts

Below Fair Value: SALMO (NOK548.75) is trading below our estimate of fair value (NOK1907.26)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for SALMO. This is calculated by dividing SALMO's market cap by their current earnings.
What is SALMO's PE Ratio?
PE Ratio21.2x
EarningsNOK 3.28b
Market CapNOK 69.45b

Price to Earnings Ratio vs Peers

How does SALMO's PE Ratio compare to its peers?

The above table shows the PE ratio for SALMO vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average16x
CWK Cranswick
21.6x8.2%UK£2.5b
TATE Tate & Lyle
18.1x15.1%UK£2.8b
ABF Associated British Foods
10x5.6%UK£14.6b
PFD Premier Foods
14.3x6.5%UK£1.6b
SALMO SalMar
21.2x32.8%NOK 69.5b

Price-To-Earnings vs Peers: SALMO is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the peer average (16x).


Price to Earnings Ratio vs Industry

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

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
No. of Companies19PE01020304050+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: SALMO is expensive based on its Price-To-Earnings Ratio (21.2x) compared to the European Food industry average (13.8x).


Price to Earnings Ratio vs Fair Ratio

What is SALMO'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.

SALMO PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio21.2x
Fair PE Ration/a

Price-To-Earnings vs Fair Ratio: Insufficient data to calculate SALMO's Price-To-Earnings 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?

The above table shows the analyst SALMO forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 548.75
NOK 644.00
+17.4%
11.5%NOK 781.00NOK 525.00n/a9
Jan ’26n/a
NOK 644.00
0%
11.5%NOK 781.00NOK 525.00n/a9
Dec ’25NOK 595.25
NOK 620.00
+4.2%
10.8%NOK 705.00NOK 520.00n/a8
Nov ’25NOK 589.50
NOK 637.38
+8.1%
12.1%NOK 740.00NOK 520.00n/a8
Oct ’25NOK 524.25
NOK 652.63
+24.5%
12.1%NOK 760.00NOK 520.00n/a8
Sep ’25n/a
NOK 678.00
0%
9.2%NOK 760.00NOK 556.00n/a8
Aug ’25NOK 631.75
NOK 677.00
+7.2%
8.3%NOK 760.00NOK 580.00n/a9
Jul ’25NOK 559.50
NOK 685.00
+22.4%
9.1%NOK 770.00NOK 580.00n/a9
Jun ’25n/a
NOK 698.89
0%
8.8%NOK 820.00NOK 630.00n/a9
May ’25n/a
NOK 710.13
0%
7.8%NOK 820.00NOK 640.00n/a8
Apr ’25NOK 710.30
NOK 699.00
-1.6%
7.7%NOK 820.00NOK 650.00n/a8
Mar ’25NOK 672.60
NOK 670.75
-0.3%
5.9%NOK 730.00NOK 600.00n/a8
Feb ’25NOK 583.90
NOK 652.38
+11.7%
4.8%NOK 705.00NOK 600.00n/a8
Jan ’25NOK 562.90
NOK 615.00
+9.3%
10.6%NOK 680.00NOK 480.00n/a8
Dec ’24NOK 593.40
NOK 615.00
+3.6%
10.6%NOK 680.00NOK 480.00NOK 595.258
Nov ’24n/a
NOK 581.25
0%
7.8%NOK 625.00NOK 480.00NOK 589.508
Oct ’24n/a
NOK 569.38
0%
10.5%NOK 630.00NOK 460.00NOK 524.258
Sep ’24n/a
NOK 548.75
0%
9.2%NOK 605.00NOK 460.00n/a8
Aug ’24n/a
NOK 561.88
0%
11.9%NOK 652.00NOK 460.00NOK 631.758
Jul ’24n/a
NOK 561.88
0%
11.9%NOK 652.00NOK 460.00NOK 559.508
Jun ’24NOK 487.55
NOK 553.13
+13.4%
14.2%NOK 652.00NOK 420.00n/a8
May ’24n/a
NOK 503.56
0%
13.5%NOK 630.00NOK 370.00n/a9
Apr ’24NOK 428.80
NOK 491.44
+14.6%
13.9%NOK 630.00NOK 370.00NOK 710.309
Mar ’24NOK 425.40
NOK 492.78
+15.8%
13.9%NOK 630.00NOK 370.00NOK 672.609
Feb ’24NOK 453.00
NOK 446.00
-1.5%
16.6%NOK 580.00NOK 343.00NOK 583.909
Jan ’24NOK 377.20
NOK 434.44
+15.2%
22.7%NOK 640.00NOK 339.00NOK 562.909
Analyst Price Target
Consensus Narrative from 9 Analysts
NOK 670.58
Fair Value
18.2% undervalued intrinsic discount
9
Number of Analysts

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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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/01/09 12:47
End of Day Share Price 2025/01/07 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on .

Analyst Sources

SalMar ASA is covered by 21 analysts. 9 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Thomas LorckArctic Securities ASA
Alexander SloaneBarclays