Arctic Fish Holding AS

OB:AFISH Stock Report

Market Cap: NOK 1.8b

Arctic Fish Holding Valuation

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

Valuation Score

4/6

Valuation Score 4/6

  • 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 AFISH when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

Discounted Cash Flow
Simply Wall St
NOK 260.07
Fair Value
80.2% undervalued intrinsic discount
2
Number of Analysts

Below Fair Value: AFISH (NOK51.5) is trading below our estimate of fair value (NOK260.07)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for AFISH. This is calculated by dividing AFISH's market cap by their current revenue.
What is AFISH's PS Ratio?
PS Ratio1.8x
Sales€78.82m
Market Cap€153.67m

Price to Sales Ratio vs Peers

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

The above table shows the PS ratio for AFISH vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4.4x
NOHAL Nordic Halibut
11.7x35.27%NOK 1.1b
KLDVK Kaldvik
1.8x25.55%NOK 2.3b
MAS Måsøval
1.2x7.51%NOK 2.9b
ISLAX Icelandic Salmon
2.9x22.99%NOK 3.3b
AFISH Arctic Fish Holding
1.8x24.02%NOK 1.8b

Price-To-Sales vs Peers: AFISH is good value based on its Price-To-Sales Ratio (1.8x) compared to the peer average (4.4x).

Price to Sales Ratio vs Industry

How does AFISH's PS Ratio compare vs other companies in the NO Food Industry?

1 CompanyPrice / SalesEstimated GrowthMarket Cap
BARRA Barramundi Group
0.3xn/aUS$4.26m
No more companies available in this PS range
AFISH 1.8xIndustry Avg. 2.4xNo. of Companies4PS01.22.43.64.86+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: AFISH is good value based on its Price-To-Sales Ratio (1.8x) compared to the Norwegian Food industry average (2.4x).

Price to Sales Ratio vs Fair Ratio

What is AFISH'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.

AFISH PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio1.8x
Fair PS Ratio1.5x

Price-To-Sales vs Fair Ratio: AFISH is expensive based on its Price-To-Sales Ratio (1.8x) compared to the estimated Fair Price-To-Sales Ratio (1.5x).

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 AFISH forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 51.50
NOK 62.50
+21.36%
4.00%NOK 65.00NOK 60.00n/a2
May ’26NOK 60.00
NOK 67.50
+12.50%
11.11%NOK 75.00NOK 60.00n/a2
Apr ’26NOK 60.00
NOK 78.50
+30.83%
4.46%NOK 82.00NOK 75.00n/a2
Mar ’26NOK 61.50
NOK 81.00
+31.71%
1.23%NOK 82.00NOK 80.00n/a2
Feb ’26NOK 67.50
NOK 81.00
+20.00%
1.23%NOK 82.00NOK 80.00n/a2
Jan ’26NOK 69.50
NOK 81.00
+16.55%
1.23%NOK 82.00NOK 80.00n/a2
Dec ’25NOK 71.00
NOK 81.00
+14.08%
1.23%NOK 82.00NOK 80.00n/a2
Nov ’25NOK 79.50
NOK 81.00
+1.89%
1.23%NOK 82.00NOK 80.00n/a2
Oct ’25NOK 47.60
NOK 81.00
+70.17%
1.23%NOK 82.00NOK 80.00n/a2
Sep ’25NOK 50.50
NOK 81.00
+60.40%
1.23%NOK 82.00NOK 80.00n/a2
Aug ’25NOK 53.50
NOK 81.00
+51.40%
1.23%NOK 82.00NOK 80.00n/a2
Jul ’25NOK 51.50
NOK 81.00
+57.28%
1.23%NOK 82.00NOK 80.00n/a2
Jun ’25NOK 54.50
NOK 81.00
+48.62%
1.23%NOK 82.00NOK 80.00n/a2
Feb ’25NOK 60.00
NOK 85.00
+41.67%
5.88%NOK 90.00NOK 80.00NOK 67.502
Jan ’25NOK 63.50
NOK 85.00
+33.86%
5.88%NOK 90.00NOK 80.00NOK 69.502
Dec ’24NOK 65.00
NOK 85.00
+30.77%
5.88%NOK 90.00NOK 80.00NOK 71.002
Oct ’24NOK 91.50
NOK 112.50
+22.95%
2.22%NOK 115.00NOK 110.00NOK 47.602
Sep ’24NOK 91.00
NOK 112.50
+23.63%
2.22%NOK 115.00NOK 110.00NOK 50.502
Aug ’24NOK 95.00
NOK 122.50
+28.95%
2.04%NOK 125.00NOK 120.00NOK 53.502
Jul ’24NOK 93.50
NOK 122.50
+31.02%
2.04%NOK 125.00NOK 120.00NOK 51.502
Jun ’24n/a
NOK 122.50
0%
2.04%NOK 125.00NOK 120.00NOK 54.502
May ’24NOK 98.00
NOK 125.00
+27.55%
4.00%NOK 130.00NOK 120.00NOK 54.002
AnalystConsensusTarget
Consensus Narrative from 2 Analysts
NOK 62.50
Fair Value
17.6% undervalued intrinsic discount
2
Number of Analysts

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.

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/05/21 20:46
End of Day Share Price 2025/05/21 00:00
Earnings2025/03/31
Annual Earnings2024/12/31

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.

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 Github.

Analyst Sources

Arctic Fish Holding AS is covered by 5 analysts. 2 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stein AuknerDNB Markets
Ola TrovatnDNB Markets
Carl-Emil JohannessenPareto Securities