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MOWI

Mowi OB:MOWI Stock Report

Last Price

kr226.00

Market Cap

kr116.9b

7D

1.7%

1Y

-0.4%

Updated

07 Aug, 2022

Data

Company Financials +
MOWI fundamental analysis
Snowflake Score
Valuation3/6
Future Growth2/6
Past Performance2/6
Financial Health6/6
Dividends2/6

MOWI Stock Overview

Mowi ASA, a seafood company, produces and supplies farmed salmon products worldwide.

Mowi Competitors

Price History & Performance

Summary of all time highs, changes and price drops for Mowi
Historical stock prices
Current Share Pricekr226.00
52 Week Highkr267.20
52 Week Lowkr199.30
Beta0.67
1 Month Change-3.75%
3 Month Change-7.79%
1 Year Change-0.44%
3 Year Change1.07%
5 Year Change50.07%
Change since IPO-96.77%

Recent News & Updates

Jun 30
Does Mowi (OB:MOWI) Have A Healthy Balance Sheet?

Does Mowi (OB:MOWI) Have A Healthy Balance Sheet?

The external fund manager backed by Berkshire Hathaway's Charlie Munger, Li Lu, makes no bones about it when he says...

Shareholder Returns

MOWINO FoodNO Market
7D1.7%0.4%-1.1%
1Y-0.4%1.1%9.2%

Return vs Industry: MOWI underperformed the Norwegian Food industry which returned 1.1% over the past year.

Return vs Market: MOWI underperformed the Norwegian Market which returned 9.2% over the past year.

Price Volatility

Is MOWI's price volatile compared to industry and market?
MOWI volatility
MOWI Average Weekly Movement4.1%
Food Industry Average Movement5.1%
Market Average Movement6.8%
10% most volatile stocks in NO Market12.6%
10% least volatile stocks in NO Market3.8%

Stable Share Price: MOWI is less volatile than 75% of Norwegian stocks over the past 3 months, typically moving +/- 4% a week.

Volatility Over Time: MOWI's weekly volatility (4%) has been stable over the past year.

About the Company

FoundedEmployeesCEOWebsite
196410,484Ivan Vindheimhttps://www.mowi.com

Mowi ASA, a seafood company, produces and supplies farmed salmon products worldwide. The company operates through three segments: Feed, Farming, and Sales and Marketing. It is involved in the salmon feed production, salmon farming and primary processing, and seafood secondary processing activities.

Mowi Fundamentals Summary

How do Mowi's earnings and revenue compare to its market cap?
MOWI fundamental statistics
Market Cap€11.69b
Earnings (TTM)€459.10m
Revenue (TTM)€4.28b

25.5x

P/E Ratio

2.7x

P/S Ratio

Earnings & Revenue

Key profitability statistics from the latest earnings report
MOWI income statement (TTM)
Revenue€4.28b
Cost of Revenue€2.29b
Gross Profit€1.99b
Other Expenses€1.53b
Earnings€459.10m

Last Reported Earnings

Mar 31, 2022

Next Earnings Date

Aug 24, 2022

Earnings per share (EPS)0.89
Gross Margin46.53%
Net Profit Margin10.74%
Debt/Equity Ratio38.9%

How did MOWI perform over the long term?

See historical performance and comparison

Dividends

2.0%

Current Dividend Yield

49%

Payout Ratio
We’ve recently updated our valuation analysis.

Valuation

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

Valuation Score

3/6

Valuation Score 3/6

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings 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 MOWI?

Other financial metrics that can be useful for relative valuation.

MOWI 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/Revenue3.1x
Enterprise Value/EBITDA16.1x
PEG Ratio-69.6x

Price to Earnings Ratio vs Peers

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

MOWI PE Ratio vs Peers
The above table shows the PE ratio for MOWI vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyPEEstimated GrowthMarket Cap
Peer Average22.5x
ORK Orkla
16.5x4.4%kr82.3b
SALM SalMar
27.3x4.2%kr81.4b
LSG Lerøy Seafood Group
16x3.4%kr44.8b
BAKKA P/F Bakkafrost
30.2x12.8%kr39.0b
MOWI Mowi
25.5x-0.4%kr116.9b

Price-To-Earnings vs Peers: MOWI is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the peer average (22.5x).


Price to Earnings Ratio vs Industry

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

Price-To-Earnings vs Industry: MOWI is good value based on its Price-To-Earnings Ratio (25.5x) compared to the Norwegian Food industry average (27.4x)


Price to Earnings Ratio vs Fair Ratio

What is MOWI'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.

MOWI PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio25.5x
Fair PE Ratio24.4x

Price-To-Earnings vs Fair Ratio: MOWI is expensive based on its Price-To-Earnings Ratio (25.5x) compared to the estimated Fair Price-To-Earnings Ratio (24.4x).


Share Price vs Fair Value

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

Below Fair Value: MOWI (NOK226) is trading below our estimate of fair value (NOK318.22)

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


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 less than 20% higher than the current share price.


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Future Growth

How is Mowi forecast to perform in the next 1 to 3 years based on estimates from 9 analysts?

Future Growth Score

2/6

Future Growth Score 2/6

  • Earnings vs Savings Rate

  • Earnings vs Market

  • High Growth Earnings

  • Revenue vs Market

  • High Growth Revenue

  • Future ROE


-0.4%

Forecasted annual earnings growth

Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOWI's earnings are forecast to decline over the next 3 years (-0.4% per year).

Earnings vs Market: MOWI's earnings are forecast to decline over the next 3 years (-0.4% per year).

High Growth Earnings: MOWI's earnings are forecast to decline over the next 3 years.

Revenue vs Market: MOWI's revenue (2% per year) is forecast to grow faster than the Norwegian market (-1% per year).

High Growth Revenue: MOWI's revenue (2% per year) is forecast to grow slower than 20% per year.


Earnings per Share Growth Forecasts


Future Return on Equity

Future ROE: MOWI's Return on Equity is forecast to be high in 3 years time (20.1%)


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Past Performance

How has Mowi performed over the past 5 years?

Past Performance Score

2/6

Past Performance Score 2/6

  • Quality Earnings

  • Growing Profit Margin

  • Earnings Trend

  • Accelerating Growth

  • Earnings vs Industry

  • High ROE


-11.0%

Historical annual earnings growth

Earnings and Revenue History

Quality Earnings: MOWI has high quality earnings.

Growing Profit Margin: MOWI's current net profit margins (10.7%) are lower than last year (11%).


Past Earnings Growth Analysis

Earnings Trend: MOWI's earnings have declined by 11% per year over the past 5 years.

Accelerating Growth: MOWI's earnings growth over the past year (7%) exceeds its 5-year average (-11% per year).

Earnings vs Industry: MOWI earnings growth over the past year (7%) underperformed the Food industry 30.1%.


Return on Equity

High ROE: MOWI's Return on Equity (14%) is considered low.


Discover strong past performing companies

Financial Health

How is Mowi's financial position?

Financial Health Score

6/6

Financial Health Score 6/6

  • Short Term Liabilities

  • Long Term Liabilities

  • Debt Level

  • Reducing Debt

  • Debt Coverage

  • Interest Coverage

Financial Position Analysis

Short Term Liabilities: MOWI's short term assets (€2.8B) exceed its short term liabilities (€997.8M).

Long Term Liabilities: MOWI's short term assets (€2.8B) exceed its long term liabilities (€2.1B).


Debt to Equity History and Analysis

Debt Level: MOWI's net debt to equity ratio (36%) is considered satisfactory.

Reducing Debt: MOWI's debt to equity ratio has reduced from 41.2% to 38.9% over the past 5 years.

Debt Coverage: MOWI's debt is well covered by operating cash flow (69.2%).

Interest Coverage: MOWI's interest payments on its debt are well covered by EBIT (11.4x coverage).


Balance Sheet


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Dividend

What is Mowi current dividend yield, its reliability and sustainability?

Dividend Score

2/6

Dividend Score 2/6

  • Notable Dividend

  • High Dividend

  • Stable Dividend

  • Growing Dividend

  • Earnings Coverage

  • Cash Flow Coverage


2.03%

Current Dividend Yield

Dividend Yield vs Market

Notable Dividend: MOWI's dividend (2.03%) isn’t notable compared to the bottom 25% of dividend payers in the Norwegian market (2.69%).

High Dividend: MOWI's dividend (2.03%) is low compared to the top 25% of dividend payers in the Norwegian market (6.89%).


Stability and Growth of Payments

Stable Dividend: MOWI has been paying a dividend for less than 10 years and during this time payments have been volatile.

Growing Dividend: MOWI has only been paying a dividend for 9 years, and since then payments have fallen.


Earnings Payout to Shareholders

Earnings Coverage: With its reasonably low payout ratio (49%), MOWI's dividend payments are well covered by earnings.


Cash Payout to Shareholders

Cash Flow Coverage: With its reasonably low cash payout ratio (37.8%), MOWI's dividend payments are well covered by cash flows.


Discover strong dividend paying companies

Management

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

3.3yrs

Average management tenure


CEO

Ivan Vindheim (51 yo)

2.75yrs

Tenure

€1,550,000

Compensation

Mr. Ivan Vindheim serves as Chief Executive Officer at Mowi ASA (Marine Harvest ASA) since November 12, 2019. He had been the Chief Financial Officer at Mowi ASA (Marine Harvest ASA) since August 1, 2012 u...


CEO Compensation Analysis

Compensation vs Market: Insufficient data to establish whether Ivan's total compensation is reasonable compared to companies of similar size in the Norwegian market.

Compensation vs Earnings: Ivan's compensation has been consistent with company performance over the past year.


Leadership Team

Experienced Management: MOWI's management team is considered experienced (3.3 years average tenure).


Board Members

Experienced Board: MOWI's board of directors are not considered experienced ( 0.5 years average tenure), which suggests a new board.


Ownership

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


Insider Trading Volume

Insider Buying: Insufficient data to determine if insiders have bought more shares than they have sold in the past 3 months.


Recent Insider Transactions

Ownership Breakdown

Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.


Top Shareholders

Company Information

Mowi ASA's employee growth, exchange listings and data sources


Key Information

  • Name: Mowi ASA
  • Ticker: MOWI
  • Exchange: OB
  • Founded: 1964
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Implied Market Cap: kr116.867b
  • Shares outstanding: 517.11m
  • Website: https://www.mowi.com

Number of Employees


Location

  • Mowi ASA
  • Sandviksboder 77A/B
  • Bergen
  • Hordaland
  • 5035
  • Norway

Listings


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2022/08/07 00:00
End of Day Share Price2022/08/05 00:00
Earnings2022/03/31
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.