Atlantic Sapphire ASA

OB:ASA Stock Report

Market Cap: NOK 618.1m

Atlantic Sapphire Valuation

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

Below Fair Value: ASA (NOK0.09) is trading below our estimate of fair value (NOK3.42)

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

Key Valuation Metric

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

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

The above table shows the Price to Sales ratio for ASA. This is calculated by dividing ASA's market cap by their current revenue.
What is ASA's PS Ratio?
PS Ratio3.2x
SalesUS$17.13m
Market CapUS$54.56m

Price to Sales Ratio vs Peers

How does ASA's PS Ratio compare to its 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.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average4x
NOHAL Nordic Halibut
9.6x49.4%NOK 813.4m
KING Kingfish
2.1x32.5%NOK 593.0m
NCOD Norcod
1.9xn/aNOK 663.0m
AFISH Arctic Fish Holding
2.5x28.3%NOK 2.3b
ASA Atlantic Sapphire
3.2x25.9%NOK 618.1m

Price-To-Sales vs Peers: ASA is good value based on its Price-To-Sales Ratio (3.2x) compared to the peer average (4x).

Price to Sales Ratio vs Industry

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

0 CompaniesPrice / SalesEstimated GrowthMarket Cap
No more companies available in this PS range
ASA 3.2xIndustry Avg. 2.5xNo. of Companies3PS01.22.43.64.86+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: ASA is expensive based on its Price-To-Sales Ratio (3.2x) compared to the Norwegian Food industry average (2.5x).

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 Ratio3.2x
Fair PS Ration/a

Price-To-Sales vs Fair Ratio: Insufficient data to calculate ASA'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?

The above table shows the analyst ASA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 0.086
NOK 55.94
+64,798.7%
10.5%NOK 61.83NOK 50.06n/a2
Dec ’25NOK 0.081
NOK 55.94
+69,136.0%
10.5%NOK 61.83NOK 50.06n/a2
Nov ’25NOK 0.081
NOK 55.12
+67,864.7%
9.4%NOK 60.32NOK 49.92n/a2
Oct ’25NOK 0.19
NOK 55.12
+28,385.5%
9.4%NOK 60.32NOK 49.92n/a2
Sep ’25NOK 0.82
NOK 54.78
+6,553.8%
9.1%NOK 59.77NOK 49.79n/a2
Aug ’25NOK 6.14
NOK 35.27
+474.2%
41.8%NOK 50.00NOK 20.54n/a2
Jul ’25NOK 8.80
NOK 35.27
+300.8%
41.8%NOK 50.00NOK 20.54n/a2
Jun ’25NOK 11.31
NOK 35.27
+211.9%
41.8%NOK 50.00NOK 20.54n/a2
May ’25NOK 9.10
NOK 35.27
+287.6%
41.8%NOK 50.00NOK 20.54n/a2
Apr ’25NOK 9.00
NOK 35.27
+291.9%
41.8%NOK 50.00NOK 20.54n/a2
Mar ’25NOK 11.96
NOK 49.66
+315.2%
49.9%NOK 80.69NOK 20.09n/a3
Feb ’25NOK 17.20
NOK 40.72
+136.8%
63.7%NOK 80.09NOK 15.04n/a4
Jan ’25NOK 16.10
NOK 57.48
+257.0%
50.7%NOK 87.73NOK 14.12n/a4
Dec ’24NOK 12.64
NOK 59.55
+371.1%
50.6%NOK 91.25NOK 14.68NOK 0.0814
Nov ’24NOK 13.80
NOK 73.71
+434.1%
23.0%NOK 89.75NOK 50.28NOK 0.0813
Oct ’24NOK 15.64
NOK 73.71
+371.3%
23.0%NOK 89.75NOK 50.28NOK 0.193
Sep ’24NOK 24.00
NOK 80.01
+233.4%
22.9%NOK 99.16NOK 50.22NOK 0.824
Aug ’24NOK 60.20
NOK 83.19
+38.2%
17.9%NOK 99.89NOK 59.42NOK 6.145
Jul ’24NOK 65.50
NOK 83.19
+27.0%
17.9%NOK 99.89NOK 59.42NOK 8.805
Jun ’24NOK 53.00
NOK 85.72
+61.7%
18.7%NOK 104.40NOK 59.96NOK 11.315
May ’24NOK 50.50
NOK 80.93
+60.3%
29.8%NOK 100.24NOK 40.12NOK 9.104
Apr ’24NOK 56.70
NOK 80.93
+42.7%
29.8%NOK 100.24NOK 40.12NOK 9.004
Mar ’24NOK 68.55
NOK 72.00
+5.0%
29.0%NOK 92.94NOK 37.19NOK 11.965
Feb ’24NOK 100.20
NOK 72.00
-28.1%
29.0%NOK 92.94NOK 37.19NOK 17.205
Jan ’24NOK 74.30
NOK 66.84
-10.0%
27.4%NOK 92.13NOK 36.87NOK 16.105
Dec ’23NOK 79.55
NOK 69.12
-13.1%
28.5%NOK 96.57NOK 38.65NOK 12.645

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.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/22 07:47
End of Day Share Price 2024/12/20 00:00
Earnings2024/06/30
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

Atlantic Sapphire ASA is covered by 6 analysts. 3 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Alexander JonesBofA Global Research
Ole-Andreas KrohnDNB Markets
Martin KarlsenDNB Markets