company background image
ASA

Atlantic Sapphire OB:ASA Stock Report

Last Price

kr11.04

Market Cap

kr1.7b

7D

-3.5%

1Y

-70.4%

Updated

02 Oct, 2022

Data

Company Financials +
ASA fundamental analysis
Snowflake Score
Valuation0/6
Future Growth5/6
Past Performance0/6
Financial Health2/6
Dividends0/6

ASA Stock Overview

Atlantic Sapphire ASA, together with its subsidiaries, engages in the land-based salmon farming business.

Atlantic Sapphire Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Atlantic Sapphire
Historical stock prices
Current Share Pricekr11.04
52 Week Highkr49.80
52 Week Lowkr10.20
Beta1.36
1 Month Change-44.36%
3 Month Change-45.72%
1 Year Change-70.44%
3 Year Change-89.33%
5 Year Change-55.84%
Change since IPO-63.20%

Recent News & Updates

Aug 31
Atlantic Sapphire ASA (OB:ASA) Analysts Just Trimmed Their Revenue Forecasts By 23%

Atlantic Sapphire ASA (OB:ASA) Analysts Just Trimmed Their Revenue Forecasts By 23%

One thing we could say about the analysts on Atlantic Sapphire ASA ( OB:ASA ) - they aren't optimistic, having just...

Shareholder Returns

ASANO FoodNO Market
7D-3.5%-20.4%-0.1%
1Y-70.4%-28.3%-5.4%

Return vs Industry: ASA underperformed the Norwegian Food industry which returned -28.3% over the past year.

Return vs Market: ASA underperformed the Norwegian Market which returned -5.4% over the past year.

Price Volatility

Is ASA's price volatile compared to industry and market?
ASA volatility
ASA Average Weekly Movement9.5%
Food Industry Average Movement6.6%
Market Average Movement6.8%
10% most volatile stocks in NO Market11.3%
10% least volatile stocks in NO Market3.8%

Stable Share Price: ASA is more volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 9% a week.

Volatility Over Time: ASA's weekly volatility (9%) has been stable over the past year, but is still higher than 75% of Norwegian stocks.

About the Company

FoundedEmployeesCEOWebsite
2010166Johan Andreassenhttps://www.atlanticsapphire.com

Atlantic Sapphire ASA, together with its subsidiaries, engages in the land-based salmon farming business. The company operates through two segments, Fish Farming (Denmark); and Fish Farming (US). It is involved in the production and sale of salmon.

Atlantic Sapphire Fundamentals Summary

How do Atlantic Sapphire's earnings and revenue compare to its market cap?
ASA fundamental statistics
Market Capkr1.69b
Earnings (TTM)-kr1.04b
Revenue (TTM)kr169.99m

10.0x

P/S Ratio

-1.6x

P/E Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
ASA income statement (TTM)
RevenueUS$15.65m
Cost of RevenueUS$62.30m
Gross Profit-US$46.65m
Other ExpensesUS$49.06m
Earnings-US$95.71m

Last Reported Earnings

Jun 30, 2022

Next Earnings Date

Apr 20, 2023

Earnings per share (EPS)-0.62
Gross Margin-298.06%
Net Profit Margin-611.54%
Debt/Equity Ratio30.8%

How did ASA perform over the long term?

See historical performance and comparison
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

0/6

Valuation Score 0/6

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Below Fair Value

  • Significantly Below Fair Value

  • Analyst Forecast

Key Valuation Metric

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

Other financial metrics that can be useful for relative valuation.

ASA 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/Revenue12.5x
Enterprise Value/EBITDA-2.8x
PEG Ration/a

Price to Sales Ratio vs Peers

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

ASA PS Ratio vs Peers
The above table shows the PS ratio for ASA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPSEstimated GrowthMarket Cap
Peer Average5.8x
IFISH Ice Fish Farm
5.4x46.5%kr2.2b
NCOD Norcod
7.6xn/akr1.2b
AFISH Arctic Fish Holding
4.3x23.9%kr3.0b
KING Kingfish
5.5x45.7%kr886.7m
ASA Atlantic Sapphire
10x52.3%kr1.7b

Price-To-Sales vs Peers: ASA is expensive based on its Price-To-Sales Ratio (10x) compared to the peer average (5.8x).


Price to Earnings Ratio vs Industry

How does ASA's PE Ratio compare vs other companies in the NO Food Industry?

Price-To-Sales vs Industry: ASA is expensive based on its Price-To-Sales Ratio (10x) compared to the Norwegian Food industry average (2.7x)


Price to Sales Ratio vs Fair Ratio

What is ASA'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.

ASA PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio10x
Fair PS Ratio0.0004x

Price-To-Sales vs Fair Ratio: ASA is expensive based on its Price-To-Sales Ratio (10x) compared to the estimated Fair Price-To-Sales Ratio (0x).


Share Price vs Fair Value

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

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

Significantly Below Fair Value: Insufficient data to calculate ASA's fair value 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 analysts are not within a statistically confident range of agreement.


Discover undervalued companies

Future Growth

How is Atlantic Sapphire forecast to perform in the next 1 to 3 years based on estimates from 6 analysts?

Future Growth Score

5/6

Future Growth Score 5/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


64.0%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: ASA is forecast to become profitable over the next 3 years, which is considered faster growth than the savings rate (1.1%).

Earnings vs Market: ASA is forecast to become profitable over the next 3 years, which is considered above average market growth.

High Growth Earnings: ASA is expected to become profitable in the next 3 years.

Revenue vs Market: ASA's revenue (52.3% per year) is forecast to grow faster than the Norwegian market (0.4% per year).

High Growth Revenue: ASA's revenue (52.3% per year) is forecast to grow faster than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: ASA's Return on Equity is forecast to be low in 3 years time (4.2%).


Discover growth companies

Past Performance

How has Atlantic Sapphire performed over the past 5 years?

Past Performance Score

0/6

Past Performance Score 0/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-59.7%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: ASA is currently unprofitable.

Growing Profit Margin: ASA is currently unprofitable.


Past Earnings Growth Analysis

Earnings Trend: ASA is unprofitable, and losses have increased over the past 5 years at a rate of 59.7% per year.

Accelerating Growth: Unable to compare ASA's earnings growth over the past year to its 5-year average as it is currently unprofitable

Earnings vs Industry: ASA is unprofitable, making it difficult to compare its past year earnings growth to the Food industry (58.4%).


Return on Equity

High ROE: ASA has a negative Return on Equity (-36.62%), as it is currently unprofitable.


Discover strong past performing companies

Financial Health

How is Atlantic Sapphire's financial position?

Financial Health Score

2/6

Financial Health Score 2/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Stable Cash Runway

  • Forecast Cash Runway

Financial Position Analysis

Short Term Liabilities: ASA's short term assets ($68.1M) do not cover its short term liabilities ($99.8M).

Long Term Liabilities: ASA's short term assets ($68.1M) exceed its long term liabilities ($2.3M).


Debt to Equity History and Analysis

Debt Level: ASA's net debt to equity ratio (15.8%) is considered satisfactory.

Reducing Debt: ASA's debt to equity ratio has increased from 6% to 30.8% over the past 5 years.


Balance Sheet


Cash Runway Analysis

For companies that have on average been loss making in the past we assess whether they have at least 1 year of cash runway.

Stable Cash Runway: ASA has less than a year of cash runway based on its current free cash flow.

Forecast Cash Runway: ASA has less than a year of cash runway if free cash flow continues to reduce at historical rates of 19.1% each year


Discover healthy companies

Dividend

What is Atlantic Sapphire current dividend yield, its reliability and sustainability?

Dividend Score

0/6

Dividend Score 0/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage

Dividend Yield vs Market

Atlantic Sapphire Dividend Yield vs Market
How does Atlantic Sapphire dividend yield compare to the market?
SegmentDividend Yield
Company (Atlantic Sapphire)n/a
Market Bottom 25% (NO)3.8%
Market Top 25% (NO)8.0%
Industry Average (Food)4.4%
Analyst forecast in 3 Years (Atlantic Sapphire)0%

Notable Dividend: Unable to evaluate ASA's dividend yield against the bottom 25% of dividend payers, as the company has not reported any recent payouts.

High Dividend: Unable to evaluate ASA's dividend yield against the top 25% of dividend payers, as the company has not reported any recent payouts.


Stability and Growth of Payments

Stable Dividend: Insufficient data to determine if ASA's dividends per share have been stable in the past.

Growing Dividend: Insufficient data to determine if ASA's dividend payments have been increasing.


Earnings Payout to Shareholders

Earnings Coverage: Insufficient data to calculate payout ratio to determine if its dividend payments are covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: Unable to calculate sustainability of dividends as ASA has not reported any payouts.


Discover strong dividend paying companies

Management

How experienced are the management team and are they aligned to shareholders interests?

2.1yrs

Average management tenure


CEO

Johan Andreassen

no data

Tenure

US$1,105,000

Compensation

Mr. Johan Emil Andreassen serves as the Chairman of the Board and Chief executive Director at Atlantic Sapphire AS. He serves as Chief Executive Officer at Atlantic Sapphire USA LLC. He is co-founder of At...


CEO Compensation Analysis

Johan Andreassen's Compensation vs Atlantic Sapphire Earnings
How has Johan Andreassen's remuneration changed compared to Atlantic Sapphire's earnings?
DateTotal Comp.SalaryCompany Earnings
Jun 30 2022n/an/a

-US$96m

Mar 31 2022n/an/a

-US$114m

Dec 31 2021US$1mUS$502k

-US$133m

Sep 30 2021n/an/a

-US$104m

Jun 30 2021n/an/a

-US$75m

Mar 31 2021n/an/a

-US$65m

Dec 31 2020US$869kUS$500k

-US$55m

Sep 30 2020n/an/a

-US$45m

Jun 30 2020n/an/a

-US$35m

Mar 31 2020n/an/a

-US$24m

Dec 31 2019US$522kUS$402k

-US$13m

Sep 30 2019n/an/a

-US$14m

Jun 30 2019n/an/a

-US$15m

Mar 31 2019n/an/a

-US$13m

Dec 31 2018US$460kUS$343k

-US$11m

Compensation vs Market: Johan's total compensation ($USD1.11M) is above average for companies of similar size in the Norwegian market ($USD467.00K).

Compensation vs Earnings: Johan's compensation has increased whilst the company is unprofitable.


Leadership Team

Experienced Management: ASA's management team is considered experienced (2.1 years average tenure).


Board Members

Experienced Board: ASA's board of directors are considered experienced (3 years average tenure).


Ownership

Who are the major shareholders and have insiders been buying or selling?


Insider Trading Volume

Insider Buying: ASA insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

OB:ASA Recent Insider Transactions by Companies or Individuals
DateValueNameEntityRoleSharesMax Price
07 Sep 22Buykr1,034,424Alexander ReusIndividual100,000kr10.34
20 Jul 22Buykr147,749,993Pelham Capital LtdCompany7,207,317kr20.50
28 Jun 22Buykr199,998Tone BjornovIndividual9,756kr20.50
28 Jun 22Buykr9,999,983Alsco ASCompany487,804kr20.50
28 Jun 22Buykr49,999,997Runar VatneIndividual2,439,024kr20.50
28 Jun 22Buykr249,998Karl ØyehaugIndividual12,195kr20.50
28 Jun 22Buykr199,998Svein TakloIndividual9,756kr20.50
28 Jun 22Buykr14,373,597Andre SkarbøIndividual701,151kr20.50
11 Nov 21Buykr6,959,999Runar VatneIndividual150,000kr46.40
02 Nov 21Buykr11,400,000Runar VatneIndividual250,000kr45.60
01 Nov 21Buykr8,689,999Runar VatneIndividual200,000kr43.45
27 Oct 21Buykr3,797,000Andre SkarbøIndividual100,000kr37.97
22 Oct 21Buykr8,516,798Runar VatneIndividual247,222kr34.45
20 Oct 21Buykr3,368,000Alsco ASCompany100,000kr33.68

Ownership Breakdown

What is the ownership structure of ASA?
Owner TypeNumber of SharesOwnership Percentage
Private Companies12,538,5078.2%
Individual Insiders13,000,8928.5%
Hedge Funds14,035,9089.2%
Institutions56,317,85336.7%
General Public57,373,24937.4%

Dilution of Shares: Shareholders have been substantially diluted in the past year, with total shares outstanding growing by 68.3%.


Top Shareholders

Top 25 shareholders own 58.15% of the company
OwnershipNameSharesCurrent ValueChange %Portfolio %
9.16%
Pelham Capital Ltd
14,035,908$155.0m242.45%0.92%
6.49%
Alsco AS
9,939,540$109.7m-4.68%no data
4.85%
Runar Vatne
7,439,024$82.1m37.76%no data
3.22%
Skagen AS
4,931,417$54.4m0%0.08%
2.97%
Handelsbanken Asset Management
4,547,555$50.2m0%0.01%
2.93%
Invesco Ltd.
4,485,447$49.5m0%no data
2.74%
BNY Mellon Asset Management
4,199,153$46.4m0%no data
2.52%
DNB Asset Management AS
3,859,220$42.6m0%0.01%
2.37%
Morgan Stanley, Investment Banking and Brokerage Investments
3,639,145$40.2m0%no data
2.23%
UBS Asset Management
3,413,062$37.7m0%no data
2.22%
JPMorgan Chase & Co, Private Banking and Investment Banking Investments
3,408,824$37.6m0%no data
1.88%
Citigroup Inc.,Banking and Securities Investments
2,884,992$31.9m0%no data
1.79%
RBC Investor Services Bank S.A., Asset Management Arm
2,738,168$30.2m0%49.64%
1.52%
J O Hambro Capital Management Limited
2,336,000$25.8m0%0.01%
1.45%
Evermore Global Advisors, LLC
2,216,504$24.5m11.8%1.86%
1.25%
State Street Global Advisors, Inc.
1,909,436$21.1m0%no data
1.16%
Northern Trust Global Investments
1,779,000$19.6m0%no data
1.15%
Andre Skarbø
1,764,066$19.5m65.96%no data
1.13%
Alexander Reus
1,735,051$19.2m6.12%no data
1.11%
Joh Johannson Eiendom AS
1,698,967$18.8m0%no data
0.95%
Lockwood Advisors, Inc.
1,453,168$16.0m0%0.02%
0.88%
U.S. Bancorp, Banking and Investment Banking Investments
1,347,598$14.9m0%6.86%
0.82%
Deka Investment GmbH
1,250,000$13.8m0%no data
0.7%
Johan Andreassen
1,073,770$11.9m0%no data
0.67%
Norron AB
1,033,945$11.4m0%0.3%

Company Information

Atlantic Sapphire ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Atlantic Sapphire ASA
  • Ticker: ASA
  • Exchange: OB
  • Founded: 2010
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: kr1.692b
  • Shares outstanding: 153.27m
  • Website: https://www.atlanticsapphire.com

Number of Employees


Location

  • Atlantic Sapphire ASA
  • Daugstadvegen 445
  • Vikebukt
  • Møre og Romsdal
  • 6392
  • Norway


Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
ASAOB (Oslo Bors)YesOrdinary SharesNONOKJul 2017
AASZ.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 2017
4ASDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 2017
ASAOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKJul 2017

Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/10/02 00:00
End of Day Share Price2022/09/30 00:00
Earnings2022/06/30
Annual Earnings2021/12/31


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.