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

MAS is good value based on its Price-To-Earnings Ratio (7.9x) compared to the peer average (120.3x).

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

MAS is good value based on its Price-To-Earnings Ratio (7.9x) compared to the European Food industry average (13.8x).

What is MAS'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.

MAS is good value based on its Price-To-Earnings Ratio (7.9x) compared to the estimated Fair Price-To-Earnings Ratio (13x).

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

MAS (NOK27.6) is trading below our estimate of [[fair value]] (NOK90.71)

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

Target price is more than 20% higher than the current share price and analysts are within a statistically confident range of agreement.

MAS Stock Overview

An aquaculture company, produces and sells salmon in Norway and internationally. More details

MAS fundamental analysis
Snowflake Score
Valuation	6/6
Future Growth	5/6
Past Performance	2/6
Financial Health	3/6
Dividends	0/6

Rewards

Trading at 69.6% below our estimate of its fair value

Earnings are forecast to grow 21.32% per year

Became profitable this year

Trading at good value compared to peers and industry

Analysts in good agreement that stock price will rise by 39.5%

Risk Analysis

Interest payments are not well covered by earnings

Large one-off items impacting financial results

My Notes

Capture your thoughts, links and company narrative

Måsøval AS Competitors

Kaldvik

OB:KLDVK

NOK 3.5b

Arctic Fish Holding

OB:AFISH

NOK 2.2b

Aker BioMarine

OB:AKBM

NOK 5.9b

Austevoll Seafood

OB:AUSS

NOK 19.7b

Price History & Performance

Summary of share price highs, lows and changes for Måsøval
Historical stock prices
Current Share Price	NOK 27.60
52 Week High	NOK 34.80
52 Week Low	NOK 24.80
Beta	0.53
1 Month Change	-0.72%
3 Month Change	-5.80%
1 Year Change	6.15%
3 Year Change	-32.52%
5 Year Change	n/a
Change since IPO	-26.98%

Måsøval (OB:MAS) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Nov 27

Recent updates

Måsøval (OB:MAS) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Nov 27

Need To Know: Analysts Just Made A Substantial Cut To Their Måsøval AS (OB:MAS) Estimates

Sep 01

Why Måsøval's (OB:MAS) Shaky Earnings Are Just The Beginning Of Its Problems

Nov 24

Shareholder Returns

	MAS	NO Food	NO Market
7D	4.9%	0.3%	1.5%
1Y	6.2%	10.9%	0.5%

Return vs Industry: MAS underperformed the Norwegian Food industry which returned 11.5% over the past year.

Return vs Market: MAS exceeded the Norwegian Market which returned 0.3% over the past year.

Price Volatility

Is MAS's price volatile compared to industry and market?
MAS volatility
MAS Average Weekly Movement	4.5%
Food Industry Average Movement	4.6%
Market Average Movement	5.0%
10% most volatile stocks in NO Market	11.2%
10% least volatile stocks in NO Market	2.6%

Stable Share Price: MAS has not had significant price volatility in the past 3 months compared to the Norwegian market.

Volatility Over Time: MAS's weekly volatility (5%) has been stable over the past year.

About the Company

Founded	Employees	CEO	Website
1973	315	Helge Kvalvik	www.masoval.no

Måsøval AS, an aquaculture company, produces and sells salmon in Norway and internationally. The company was founded in 1973 and is headquartered in Frøya, Norway. Måsøval AS operates as a subsidiary of Måsøval Eiendom AS.

Måsøval AS Fundamentals Summary

How do Måsøval's earnings and revenue compare to its market cap?
MAS fundamental statistics
Market cap	NOK 3.38b
Earnings (TTM)	NOK 427.18m
Revenue (TTM)	NOK 2.53b

7.9x

P/E Ratio

1.3x

P/S Ratio

Is MAS overvalued?

See Fair Value and valuation analysis

Earnings & Revenue

Key profitability statistics from the latest earnings report (TTM)
MAS income statement (TTM)
Revenue	NOK 2.53b
Cost of Revenue	NOK 1.60b
Gross Profit	NOK 933.69m
Other Expenses	NOK 506.51m
Earnings	NOK 427.18m

Last Reported Earnings

Sep 30, 2024

Next Earnings Date

Feb 25, 2025

Earnings per share (EPS)	3.49
Gross Margin	36.87%
Net Profit Margin	16.87%
Debt/Equity Ratio	81.4%

How did MAS perform over the long term?

See historical performance and comparison

Dividends

1.8%

Current Dividend Yield

8%

Payout Ratio

Company Analysis and Financial Data Status

Data	Last Updated (UTC time)
Company Analysis	2024/12/30 04:12
End of Day Share Price	2024/12/30 00:00
Earnings	2024/09/30
Annual Earnings	2023/12/31

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.

Package	Data	Timeframe	Example US Source ^*
Company Financials	10 years	Income statement Cash flow statement Balance sheet	SEC Form 10-K SEC Form 10-Q
Analyst Consensus Estimates	+3 years	Forecast financials Analyst price targets	Analyst Research Reports Blue Matrix
Market Prices	30 years	Stock prices Dividends, Splits and Actions	ICE Market Data SEC Form S-1
Ownership	10 years	Top shareholders Insider trading	SEC Form 4 SEC Form 13D
Management	10 years	Leadership team Board of directors	SEC Form 10-K SEC Form DEF 14A
Key Developments	10 years	Company announcements	SEC Form 8-K

^* 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

Måsøval AS is covered by 7 analysts. 4 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

Analyst	Institution
Ola Trovatn	Carnegie Investment Bank AB
Stein Aukner	DNB Markets
Ola Trovatn	DNB Markets

MAS Stock Overview

Rewards

Risk Analysis

Måsøval AS Competitors

OB:KLDVK

NOK 3.5b

OB:AFISH

NOK 2.2b

OB:AKBM

NOK 5.9b

OB:AUSS

NOK 19.7b

Price History & Performance

Recent News & Updates

Consensus EPS estimates fall by 17%

Måsøval (OB:MAS) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Third quarter 2024 earnings: Revenues miss analyst expectations

Price target decreased by 8.3% to kr38.50

Consensus EPS estimates fall by 12%

Måsøval AS, Annual General Meeting, Jun 05, 2025

Recent updates

Consensus EPS estimates fall by 17%

Måsøval (OB:MAS) Posted Healthy Earnings But There Are Some Other Factors To Be Aware Of

Third quarter 2024 earnings: Revenues miss analyst expectations

Price target decreased by 8.3% to kr38.50

Consensus EPS estimates fall by 12%

Måsøval AS, Annual General Meeting, Jun 05, 2025

Måsøval AS to Report Q3, 2025 Results on Nov 18, 2025

Consensus EPS estimates fall by 11%

Consensus EPS estimates fall by 24%

Second quarter 2024 earnings: Revenues exceed analysts expectations while EPS lags behind

Full year 2023 earnings released: EPS: kr1.43 (vs kr5.07 in FY 2022)

New major risk - Financial position

Price target increased by 8.2% to kr35.33

Is Måsøval (OB:MAS) Using Too Much Debt?

Price target decreased by 7.5% to kr32.67

Third quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased by 8.1% to kr37.67

Second quarter 2023 earnings: Revenues exceed analysts expectations while EPS lags behind

Price target decreased by 9.8% to kr43.00

Upcoming dividend of kr0.50 per share at 4.7% yield

Price target increased by 13% to kr46.67

Full year 2022 earnings: EPS and revenues exceed analyst expectations

Price target increased by 8.4% to kr43.00

Consensus EPS estimates fall by 15%

Full year 2022 earnings released: EPS: kr5.07 (vs kr2.66 in FY 2021)

Consensus revenue estimates increase by 14%, EPS downgraded

Price target increased by 11% to kr40.00

Now 20% undervalued

Consensus revenue estimates decrease by 13%

Price target increased by 7.6% to kr37.67

A Look At The Fair Value Of Måsøval AS (OB:MAS)

Now 20% undervalued

Måsøval AS to Report Q4, 2022 Results on Feb 28, 2023

Now 20% undervalued after recent price drop

Måsøval AS Provides Production Guidance for the Fourth Quarter, Full Year of 2022 and for the Year 2023

Third quarter 2022 earnings: EPS and revenues exceed analyst expectations

No independent directors

Måsøval AS Provides Production Guidance for the Fourth Quarter, Full Year of 2022 and for the Year 2023

Investor sentiment improved over the past week

Måsøval (OB:MAS) Looks To Prolong Its Impressive Returns

Måsøval AS to Report Q3, 2022 Results on Nov 15, 2022

Price target decreased to kr50.00

Investor sentiment deteriorated over the past week

Need To Know: Analysts Just Made A Substantial Cut To Their Måsøval AS (OB:MAS) Estimates

Consensus revenue estimates increase by 19%

Second quarter 2022 earnings: EPS exceeds analyst expectations while revenues lag behind

Consensus EPS estimates increase by 10%

Consensus EPS estimates increase by 11%

Måsøval AS, Annual General Meeting, Jun 09, 2022

Consensus forecasts updated

Måsøval AS to Report Q1, 2022 Results on May 19, 2022

Consensus EPS estimates increase by 15%

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Consensus EPS estimates increase by 17%

No independent directors

Consensus revenue estimates increase by 18%

Consensus forecasts updated

Full year 2021 earnings: EPS and revenues exceed analyst expectations

Måsøval AS (OB:MAS) completed the acquisition of Aquafarms Vartdal, Vartdal Fiskeoppdrett, Urke Fiskeoppdrett, Western Seaproducts and Vartdal Fryseri from Vartdal Invest AS.