Lerøy Seafood Group Valuation

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

Below Fair Value: LSG (NOK52.25) is trading below our estimate of fair value (NOK294.99)

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


Key Valuation Metric

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

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

The above table shows the Price to Earnings ratio for LSG. This is calculated by dividing LSG's market cap by their current earnings.
What is LSG's PE Ratio?
PE Ratio16.1x
EarningsNOK 1.93b
Market CapNOK 31.11b

Price to Earnings Ratio vs Peers

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

The above table shows the PE ratio for LSG vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average23.5x
BAKKA P/F Bakkafrost
43.5x63.1%NOK 39.0b
AUSS Austevoll Seafood
9.2x9.4%NOK 20.4b
ORK Orkla
17.7x8.1%NOK 100.5b
SALM SalMar
23.4x32.5%NOK 76.9b
LSG Lerøy Seafood Group
16.1x30.6%NOK 31.1b

Price-To-Earnings vs Peers: LSG is good value based on its Price-To-Earnings Ratio (16.1x) compared to the peer average (23.5x).


Price to Earnings Ratio vs Industry

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

3 CompaniesPrice / EarningsEstimated GrowthMarket Cap
LSG 16.1xIndustry Avg. 13.3xNo. of Companies23PE0816243240+
3 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: LSG is expensive based on its Price-To-Earnings Ratio (16.1x) compared to the European Food industry average (13.3x).


Price to Earnings Ratio vs Fair Ratio

What is LSG'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.

LSG PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio16.1x
Fair PE Ratio18.7x

Price-To-Earnings vs Fair Ratio: LSG is good value based on its Price-To-Earnings Ratio (16.1x) compared to the estimated Fair Price-To-Earnings Ratio (18.7x).


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 LSG forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 52.25
NOK 58.33
+11.6%
5.2%NOK 63.00NOK 53.00n/a6
Dec ’25NOK 51.50
NOK 58.33
+13.3%
5.2%NOK 63.00NOK 53.00n/a6
Nov ’25NOK 50.50
NOK 59.14
+17.1%
7.9%NOK 67.00NOK 50.00n/a7
Oct ’25NOK 50.00
NOK 57.71
+15.4%
7.0%NOK 64.00NOK 50.00n/a7
Sep ’25NOK 50.25
NOK 57.43
+14.3%
6.8%NOK 64.00NOK 50.00n/a7
Aug ’25NOK 46.80
NOK 56.50
+20.7%
1.7%NOK 58.00NOK 55.00n/a6
Jul ’25NOK 42.74
NOK 56.50
+32.2%
1.7%NOK 58.00NOK 55.00n/a6
Jun ’25NOK 46.02
NOK 56.50
+22.8%
1.7%NOK 58.00NOK 55.00n/a6
May ’25NOK 49.20
NOK 54.67
+11.1%
4.0%NOK 58.00NOK 52.00n/a6
Apr ’25NOK 47.76
NOK 54.33
+13.8%
4.7%NOK 58.00NOK 51.00n/a6
Mar ’25NOK 47.28
NOK 52.50
+11.0%
4.1%NOK 55.00NOK 49.00n/a6
Feb ’25NOK 42.10
NOK 51.33
+21.9%
5.8%NOK 55.00NOK 47.00n/a6
Jan ’25NOK 41.84
NOK 51.67
+23.5%
7.5%NOK 58.00NOK 47.00n/a6
Dec ’24NOK 41.98
NOK 51.67
+23.1%
7.5%NOK 58.00NOK 47.00NOK 51.506
Nov ’24NOK 44.22
NOK 58.82
+33.0%
11.8%NOK 72.00NOK 50.00NOK 50.506
Oct ’24NOK 44.88
NOK 58.98
+31.4%
11.5%NOK 72.00NOK 50.00NOK 50.006
Sep ’24NOK 43.84
NOK 58.98
+34.5%
11.5%NOK 72.00NOK 50.00NOK 50.256
Aug ’24NOK 42.58
NOK 63.41
+48.9%
11.6%NOK 72.00NOK 50.00NOK 46.807
Jul ’24NOK 40.72
NOK 64.82
+59.2%
10.9%NOK 72.00NOK 50.00NOK 42.746
Jun ’24NOK 49.38
NOK 64.82
+31.3%
10.9%NOK 72.00NOK 50.00NOK 46.026
May ’24NOK 56.05
NOK 63.94
+14.1%
9.8%NOK 72.00NOK 50.00NOK 49.207
Apr ’24NOK 54.30
NOK 62.09
+14.3%
10.1%NOK 72.00NOK 50.00NOK 47.767
Mar ’24NOK 51.05
NOK 61.66
+20.8%
9.7%NOK 72.00NOK 50.00NOK 47.287
Feb ’24NOK 59.40
NOK 63.14
+6.3%
13.1%NOK 75.00NOK 52.00NOK 42.107
Jan ’24NOK 55.15
NOK 58.79
+6.6%
13.7%NOK 72.00NOK 44.00NOK 41.847
Dec ’23NOK 48.70
NOK 58.92
+21.0%
15.0%NOK 72.00NOK 44.00NOK 41.986

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


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