Andfjord Salmon Group AS

OB:ANDF Stock Report

Market Cap: NOK 2.7b

Andfjord Salmon Group Valuation

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

Valuation Score

0/6

Valuation Score 0/6

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

Below Fair Value: Insufficient data to calculate ANDF's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate ANDF's fair value for valuation analysis.

Key Valuation Metric

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

Key metric: As ANDF barely has revenue we use its Price-To-Book Ratio for relative valuation analysis.

The above table shows the Price to Book ratio for ANDF. This is calculated by dividing ANDF's market cap by their current book value.
What is ANDF's PB Ratio?
PB Ratio2.1x
BookNOK 1.29b
Market CapNOK 2.70b

Price to Book Ratio vs Peers

How does ANDF's PB Ratio compare to its peers?

The above table shows the PB ratio for ANDF vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PBEstimated GrowthMarket Cap
Peer Average1.6x
SALME Salmon Evolution
1.4x63.4%NOK 3.2b
NOAP Nordic Aqua Partners
1.9x54.7%NOK 1.6b
MAS Måsøval
1.9x14.8%NOK 3.5b
KLDVK Kaldvik
1x96.6%NOK 3.4b
ANDF Andfjord Salmon Group
2.1x57.8%NOK 2.7b

Price-To-Book vs Peers: ANDF is expensive based on its Price-To-Book Ratio (2.1x) compared to the peer average (1.6x).

Price to Book Ratio vs Industry

How does ANDF's PB Ratio compare vs other companies in the NO Food Industry?

1 CompanyPrice / BookEstimated GrowthMarket Cap
ASA Atlantic Sapphire
0.2x53.2%US$51.34m
No more companies available in this PB range
ANDF 2.1xIndustry Avg. 1.9xNo. of Companies8PB00.81.62.43.24+
1 CompanyEstimated GrowthMarket Cap
No more companies

Price-To-Book vs Industry: ANDF is expensive based on its Price-To-Book Ratio (2.1x) compared to the Norwegian Food industry average (1.9x).

Price to Book Ratio vs Fair Ratio

What is ANDF'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.

ANDF PB Ratio vs Fair Ratio.
Fair Ratio
Current PB Ratio2.1x
Fair PB Ration/a

Price-To-Book vs Fair Ratio: Insufficient data to calculate ANDF'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?

The above table shows the analyst ANDF forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 39.80
NOK 47.50
+19.3%
5.3%NOK 50.00NOK 45.00n/a2
Nov ’25NOK 33.70
NOK 47.50
+40.9%
5.3%NOK 50.00NOK 45.00n/a2
Oct ’25NOK 30.50
NOK 47.50
+55.7%
5.3%NOK 50.00NOK 45.00n/a2
Sep ’25NOK 31.20
NOK 47.50
+52.2%
5.3%NOK 50.00NOK 45.00n/a2
Aug ’25NOK 33.40
NOK 47.50
+42.2%
5.3%NOK 50.00NOK 45.00n/a2
Jul ’25NOK 31.20
NOK 47.50
+52.2%
5.3%NOK 50.00NOK 45.00n/a2
Jun ’25NOK 32.80
NOK 47.50
+44.8%
5.3%NOK 50.00NOK 45.00n/a2
May ’25NOK 36.20
NOK 47.50
+31.2%
5.3%NOK 50.00NOK 45.00n/a2
Apr ’25NOK 38.70
NOK 47.50
+22.7%
5.3%NOK 50.00NOK 45.00n/a2
Mar ’25NOK 32.20
NOK 51.50
+59.9%
12.6%NOK 58.00NOK 45.00n/a2
Feb ’25NOK 29.30
NOK 51.50
+75.8%
12.6%NOK 58.00NOK 45.00n/a2
Jan ’25NOK 28.90
NOK 56.50
+95.5%
2.7%NOK 58.00NOK 55.00n/a2
Dec ’24NOK 27.60
NOK 56.50
+104.7%
2.7%NOK 58.00NOK 55.00n/a2
Nov ’24NOK 28.10
NOK 56.50
+101.1%
2.7%NOK 58.00NOK 55.00NOK 33.702
Oct ’24NOK 30.00
NOK 56.50
+88.3%
2.7%NOK 58.00NOK 55.00NOK 30.502
Sep ’24NOK 33.90
NOK 56.50
+66.7%
2.7%NOK 58.00NOK 55.00NOK 31.202
Aug ’24NOK 36.00
NOK 56.50
+56.9%
2.7%NOK 58.00NOK 55.00NOK 33.402
Jul ’24NOK 37.10
NOK 56.50
+52.3%
2.7%NOK 58.00NOK 55.00NOK 31.202
Jun ’24NOK 41.50
NOK 56.50
+36.1%
2.7%NOK 58.00NOK 55.00NOK 32.802
May ’24NOK 39.90
NOK 56.50
+41.6%
2.7%NOK 58.00NOK 55.00NOK 36.202
Apr ’24NOK 38.30
NOK 56.50
+47.5%
2.7%NOK 58.00NOK 55.00NOK 38.702
Mar ’24NOK 40.10
NOK 64.50
+60.8%
14.7%NOK 74.00NOK 55.00NOK 32.202
Feb ’24NOK 38.40
NOK 64.50
+68.0%
14.7%NOK 74.00NOK 55.00NOK 29.302
Jan ’24NOK 38.00
NOK 64.50
+69.7%
14.7%NOK 74.00NOK 55.00NOK 28.902
Dec ’23NOK 41.50
NOK 64.50
+55.4%
14.7%NOK 74.00NOK 55.00NOK 27.602
Nov ’23NOK 44.90
NOK 64.50
+43.7%
14.7%NOK 74.00NOK 55.00NOK 28.102

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

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