OB:MOWI

Stock Analysis Report

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Executive Summary

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


Snowflake Analysis

High growth potential with adequate balance sheet.


Similar Companies

Share Price & News

How has Mowi's share price performed over time and what events caused price changes?


Latest Share Price and Events

Stable Share Price: MOWI is not significantly more volatile than the rest of Norwegian stocks over the past 3 months, typically moving +/- 5% a week.

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


Market Performance


7 Day Return

5.9%

MOWI

0.6%

NO Food

3.4%

NO Market


1 Year Return

-19.9%

MOWI

-7.8%

NO Food

-1.8%

NO Market

Return vs Industry: MOWI underperformed the Norwegian Food industry which returned -7.8% over the past year.

Return vs Market: MOWI underperformed the Norwegian Market which returned -1.8% over the past year.


Shareholder returns

MOWIIndustryMarket
7 Day5.9%0.6%3.4%
30 Day21.3%6.5%12.5%
90 Day8.1%1.5%7.4%
1 Year-19.0%-19.9%-6.5%-7.8%1.8%-1.8%
3 Year41.0%24.9%44.2%30.6%8.8%-3.4%
5 Year103.5%55.6%109.0%67.9%54.8%24.2%

Long-Term Price Volatility Vs. Market

How volatile is Mowi's share price compared to the market and industry in the last 5 years?


Simply Wall St News

Valuation

Is Mowi undervalued compared to its fair value and its price relative to the market?

24.6%

Undervalued compared to fair value


Share Price vs. Fair Value

Below Fair Value: MOWI (NOK183.15) is trading below our estimate of fair value (NOK242.76)

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


Price To Earnings Ratio

PE vs Industry: MOWI is poor value based on its PE Ratio (33.6x) compared to the NO Food industry average (20.9x).

PE vs Market: MOWI is poor value based on its PE Ratio (33.6x) compared to the Norwegian market (15.5x).


Price to Earnings Growth Ratio

PEG Ratio: MOWI is good value based on its PEG Ratio (0.8x)


Price to Book Ratio

PB vs Industry: MOWI is overvalued based on its PB Ratio (3.3x) compared to the NO Food industry average (2.6x).


Next Steps

Future Growth

How is Mowi forecast to perform in the next 1 to 3 years based on estimates from 10 analysts?

42.8%

Forecasted annual earnings growth


Earnings and Revenue Growth Forecasts


Analyst Future Growth Forecasts

Earnings vs Savings Rate: MOWI's forecast earnings growth (42.8% per year) is above the savings rate (1.6%).

Earnings vs Market: MOWI's earnings (42.8% per year) are forecast to grow faster than the Norwegian market (34.1% per year).

High Growth Earnings: earnings are expected to grow significantly over the next 3 years.

Revenue vs Market: MOWI's revenue (6.5% per year) is forecast to grow faster than the Norwegian market (6.1% per year).

High Growth Revenue: MOWI's revenue (6.5% 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%)


Next Steps

Past Performance

How has Mowi performed over the past 5 years?

2.4%

Historical annual earnings growth


Earnings and Revenue History

Quality Earnings: MOWI has high quality earnings.

Growing Profit Margin: MOWI's current net profit margins (7.1%) are lower than last year (10.6%).


Past Earnings Growth Analysis

Earnings Trend: MOWI's earnings have grown by 2.4% per year over the past 5 years.

Accelerating Growth: MOWI's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.

Earnings vs Industry: MOWI had negative earnings growth (-37.3%) over the past year, making it difficult to compare to the Food industry average (18.4%).


Return on Equity

High ROE: MOWI's Return on Equity (10.1%) is considered low.


Next Steps

Financial Health

How is Mowi's financial position?


Financial Position Analysis

Short Term Liabilities: MOWI's short term assets (€2.4B) exceed its short term liabilities (€730.9M).

Long Term Liabilities: MOWI's short term assets (€2.4B) exceed its long term liabilities (€2.3B).


Debt to Equity History and Analysis

Debt Level: MOWI's debt to equity ratio (57.2%) is considered high.

Reducing Debt: MOWI's debt to equity ratio has increased from 52.8% to 57.2% over the past 5 years.

Debt Coverage: MOWI's debt is well covered by operating cash flow (33.8%).

Interest Coverage: MOWI's interest payments on its debt are well covered by EBIT (5.4x coverage).


Balance Sheet


Next Steps

Dividend

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

3.21%

Forecast Dividend Yield


Dividend Yield vs Market

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

High Dividend: Unable to evaluate MOWI'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 MOWI's dividends per share have been stable in the past.

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


Current Payout to Shareholders

Dividend Coverage: MOWI is not paying a notable dividend for the Norwegian market.


Future Payout to Shareholders

Future Dividend Coverage: No need to calculate the sustainability of MOWI's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.


Next Steps

Management

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

1.0yrs

Average management tenure


CEO

Ivan Vindheim (49 yo)

1

Tenure

€1,434,000

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: Ivan's total compensation ($USD1.71M) is above average for companies of similar size in the Norwegian market ($USD1.06M).

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


Leadership Team

NamePositionTenureCompensationOwnership
Ivan Vindheim
Chief Executive Officer1yr€1.43m0.0014%
€ 1.3m
Kristian Ellingsen
Chief Financial Officer1yr€208.00k0.00015%
€ 140.1k
Catarina Martins
Chief Sustainability Officer & CTO0.58yr€185.00k0.00043%
€ 401.6k
Ola Brattvoll
Chief Operating Officer of Sales & Marketing9.92yrs€887.00k0.0019%
€ 1.8m
Anne Riise
Chief Human Resource Officer8yrs€242.00k0.00021%
€ 196.1k
Benjamin Hadfield
Chief Operating Officer of Farming Scotland7.75yrs€962.00k0.0015%
€ 1.4m
Øyvind Oaland
Chief Operating Officer of Farming Norway0.58yr€302.00k0.00099%
€ 924.6k
Atle Kvist
Chief Operating Officer of Feed0.83yrno data0.000060%
€ 56.0k
Kim Dosvig
Head of Treasury & Investor Relations Officerno datano data0.00017%
€ 158.8k
Charlie Wu
Managing Director of Marine Harvest Asia19.83yrsno datano data
Jan Feenstra
Managing Director of Marine Harvest Ireland26.33yrsno datano data
Fernando Villarroel
Chief Operating Officer-Farming Americas0.083yrno data0.000030%
€ 28.0k

1.0yrs

Average Tenure

49yo

Average Age

Experienced Management: MOWI's management team is not considered experienced ( 1 years average tenure), which suggests a new team.


Board Members

NamePositionTenureCompensationOwnership
Lisbeth Nærø
Independent Director5.42yrs€84.00k0.00012%
€ 112.1k
Solveig Strand
Director0.42yrno datano data
Ole-Eirik Lerøy
Chairman of the Boardno data€122.00k0.29%
€ 271.0m
Cecilie Fredriksen
Director12.83yrs€51.00k14.37%
€ 13.4b
Kristian Melhuus
Director2.83yrs€51.00k0.00012%
€ 112.1k
Alf-Helge Aarskog
Deputy Chairman0.42yr€2.22m0.0020%
€ 1.9m
Bjarne Tellmann
Director0.42yrno datano data
Nils Klevjer
Deputy Employee Representative Member of the Boardno datano datano data
Anders Sæther
Employee Representative Director2.83yrs€51.00k0.00021%
€ 196.1k
Hans Lande
Director0.83yrno data0.00010%
€ 93.4k
Torill Grønning
Director0.83yrno data0.00022%
€ 205.5k

0.8yrs

Average Tenure

52yo

Average Age

Experienced Board: MOWI's board of directors are not considered experienced ( 0.8 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: MOWI 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 company bio, employee growth, exchange listings and data sources


Key Information

  • Name: Mowi ASA
  • Ticker: MOWI
  • Exchange: OB
  • Founded: 1965
  • Industry: Packaged Foods and Meats
  • Sector: Food, Beverage & Tobacco
  • Market Cap: kr93.390b
  • Shares outstanding: 517.11m
  • Website: https://www.mowi.com

Number of Employees


Location

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

Listings

TickerExchangePrimary SecuritySecurity TypeCountryCurrencyListed on
MOWIOB (Oslo Bors)YesOrdinary SharesNONOKJul 1997
PNDDB (Deutsche Boerse AG)YesOrdinary SharesDEEURJul 1997
MNHV.FOTCPK (Pink Sheets LLC)YesOrdinary SharesUSUSDJul 1997
0OAWLSE (London Stock Exchange)YesOrdinary SharesGBNOKJul 1997
MOWIOBATS-CHIXE (BATS 'Chi-X Europe')YesOrdinary SharesGBNOKJul 1997
MHGV.YOTCPK (Pink Sheets LLC)SPONSORED ADSUSUSDOct 2008
PNDADB (Deutsche Boerse AG)SPONSORED ADSDEEUROct 2008

Biography

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 p...


Company Analysis and Financial Data Status

All financial data provided by Standard & Poor's Capital IQ.
DataLast Updated (UTC time)
Company Analysis2020/11/27 17:23
End of Day Share Price2020/11/27 00:00
Earnings2020/09/30
Annual Earnings2019/12/31


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.