SalMar ASA, an aquaculture company, produces and sells farmed salmon in Asia, the United States, Canada, Norway, rest of Europe, and internationally.
Flawless balance sheet and fair value.
Share Price & News
How has SalMar's share price performed over time and what events caused price changes?
Latest Share Price and Events
Stable Share Price: SALM's share price has been volatile over the past 3 months.
7 Day Return
1 Year Return
Return vs Industry: SALM underperformed the Norwegian Food industry which returned 2.9% over the past year.
Return vs Market: SALM exceeded the Norwegian Market which returned -21.8% over the past year.
Price Volatility Vs. Market
How volatile is SalMar's share price compared to the market and industry in the last 5 years?
Simply Wall St News
1 day ago | Simply Wall StWe Think SalMar (OB:SALM) Can Stay On Top Of Its Debt
1 week ago | Simply Wall StIntroducing SalMar (OB:SALM), The Stock That Zoomed 184% In The Last Five Years
3 weeks ago | Simply Wall StInsider Buying: The SalMar ASA (OB:SALM) COO & CFO Just Bought kr496k Worth Of Shares
Is SalMar undervalued compared to its fair value and its price relative to the market?
Undervalued compared to fair value
Share Price vs. Fair Value
Below Fair Value: SALM (NOK380.9) is trading below our estimate of fair value (NOK705.38)
Significantly Below Fair Value: SALM is trading below fair value by more than 20%.
Price To Earnings Ratio
PE vs Industry: SALM is good value based on its PE Ratio (17.3x) compared to the Food industry average (17.3x).
PE vs Market: SALM is poor value based on its PE Ratio (17.3x) compared to the Norwegian market (10.7x).
Price to Earnings Growth Ratio
PEG Ratio: SALM is poor value based on its PEG Ratio (1.8x)
Price to Book Ratio
PB vs Industry: SALM is overvalued based on its PB Ratio (4.8x) compared to the NO Food industry average (2.8x).
How is SalMar forecast to perform in the next 1 to 3 years based on estimates from 8 analysts?
Forecasted annual earnings growth
Earnings and Revenue Growth Forecasts
Analyst Future Growth Forecasts
Earnings vs Savings Rate: SALM's forecast earnings growth (9.8% per year) is above the savings rate (0.7%).
Earnings vs Market: SALM's earnings (9.8% per year) are forecast to grow slower than the Norwegian market (21.5% per year).
High Growth Earnings: SALM's earnings are forecast to grow, but not significantly.
Revenue vs Market: SALM's revenue (5.5% per year) is forecast to grow faster than the Norwegian market (2.3% per year).
High Growth Revenue: SALM's revenue (5.5% per year) is forecast to grow slower than 20% per year.
Earnings per Share Growth Forecasts
Future Return on Equity
Future ROE: SALM's Return on Equity is forecast to be high in 3 years time (26.9%)
How has SalMar performed over the past 5 years?
Historical annual earnings growth
Earnings and Revenue History
Quality Earnings: SALM has high quality earnings.
Growing Profit Margin: SALM's current net profit margins (20.3%) are lower than last year (31.5%).
Past Earnings Growth Analysis
Earnings Trend: SALM's earnings have grown significantly by 21.3% per year over the past 5 years.
Accelerating Growth: SALM's has had negative earnings growth over the past year, so it can't be compared to its 5-year average.
Earnings vs Industry: SALM had negative earnings growth (-30.3%) over the past year, making it difficult to compare to the Food industry average (-30.3%).
Return on Equity
High ROE: SALM's Return on Equity (26.1%) is considered high.
How is SalMar's financial position?
Financial Position Analysis
Short Term Liabilities: SALM's short term assets (NOK7.5B) exceed its short term liabilities (NOK3.2B).
Long Term Liabilities: SALM's short term assets (NOK7.5B) exceed its long term liabilities (NOK5.0B).
Debt to Equity History and Analysis
Debt Level: SALM's debt to equity ratio (32.2%) is considered satisfactory.
Reducing Debt: SALM's debt to equity ratio has reduced from 39.9% to 32.2% over the past 5 years.
Debt Coverage: SALM's debt is well covered by operating cash flow (96.7%).
Interest Coverage: SALM's interest payments on its debt are well covered by EBIT (18.5x coverage).
What is SalMar's current dividend yield, its reliability and sustainability?
Forecast Dividend Yield
Dividend Yield vs Market
Notable Dividend: Unable to evaluate SALM's dividend yield against the bottom 25% of dividend payers, as the company has not reported any payouts.
High Dividend: Unable to evaluate SALM's dividend yield against the top 25% of dividend payers, as the company has not reported any payouts.
Stability and Growth of Payments
Stable Dividend: Insufficient data to determine if SALM's dividends per share have been stable in the past.
Growing Dividend: Insufficient data to determine if SALM's dividend payments have been increasing.
Current Payout to Shareholders
Dividend Coverage: SALM is not paying a notable dividend for the Norwegian market.
Future Payout to Shareholders
Future Dividend Coverage: No need to calculate the sustainability of SALM's dividend in 3 years as they are not forecast to pay a notable one for the Norwegian market.
How experienced are the management team and are they aligned to shareholders interests?
Average management tenure
Gustav Witzoe (66yo)
Mr. Gustav Magnar Witzøe co-founded SalMar ASA in 1991 and has been its Chief Executive Officer since October 21, 2019. Mr. Witzøe served as Director of Strategic Projects at SalMar ASA since December 1, 2 ...
CEO Compensation Analysis
Compensation vs Market: Gustav's total compensation ($USD137.90K) is below average for companies of similar size in the Norwegian market ($USD463.84K).
Compensation vs Earnings: Gustav's compensation has been consistent with company performance over the past year.
|Director of Processing & Sales||2.33yrs||kr3.49m||0.0017% NOK731.2k|
|Chief Operating Officer of Farming||1.83yrs||kr4.46m||0.011% NOK4.9m|
|COO & CFO||0.75yr||no data||0.0031% NOK1.4m|
|Head of Accounting||no data||no data||0.0047% NOK2.0m|
|Head of Investor Relations||0.083yr||no data||no data|
|Manager of Freshwater||25.25yrs||kr3.53m||no data|
Experienced Management: SALM's management team is considered experienced (2.1 years average tenure).
|Chairman of the Board||2.83yrs||kr400.00k||no data|
|Independent Director||2.83yrs||kr215.00k||no data|
|Deputy Chair||no data||kr285.00k||no data|
|Employee Representative Director||2.83yrs||kr108.00k||no data|
|Employee Representative Director||1.25yrs||no data||no data|
Experienced Board: SALM's board of directors are not considered experienced ( 2.8 years average tenure), which suggests a new board.
Who are the major shareholders and have insiders been buying or selling?
Insider Trading Volume
Insider Buying: SALM insiders have bought more shares than they have sold in the past 3 months.
Recent Insider Transactions
Dilution of Shares: Shareholders have not been meaningfully diluted in the past year.
SalMar ASA's company bio, employee growth, exchange listings and data sources
- Name: SalMar ASA
- Ticker: SALM
- Exchange: OB
- Founded: 1991
- Industry: Packaged Foods and Meats
- Sector: Food, Beverage & Tobacco
- Market Cap: kr43.012b
- Shares outstanding: 112.92m
- Website: https://www.salmar.no
Number of Employees
- SalMar ASA
- Industriveien 51
|Ticker||Exchange||Primary Security||Security Type||Country||Currency||Listed on|
|SALM||OB (Oslo Bors)||Yes||Ordinary Shares||NO||NOK||May 2007|
|JEP||DB (Deutsche Boerse AG)||Yes||Ordinary Shares||DE||EUR||May 2007|
|0FWY||LSE (London Stock Exchange)||Yes||Ordinary Shares||GB||NOK||May 2007|
|SALMo||BATS-CHIXE (BATS 'Chi-X Europe')||Yes||Ordinary Shares||GB||NOK||May 2007|
|SALR.F||OTCPK (Pink Sheets LLC)||Yes||Ordinary Shares||US||USD||May 2007|
|JEP||BRSE (Berne Stock Exchange)||Yes||Ordinary Shares||CH||CHF||May 2007|
|SALR.Y||OTCPK (Pink Sheets LLC)||UNSPONSRED ADS||US||USD||Dec 2018|
SalMar ASA, an aquaculture company, produces and sells farmed salmon in Asia, the United States, Canada, Norway, rest of Europe, and internationally. It is involved in the broodfish and smolt production; and marine-phase farming, harvesting, processing, and sale of farmed salmon and white fish. The company sells its products to importers/exporters, processing companies, and retail chains through in-house sales force and/or through partners. The company was founded in 1991 and is headquartered in Kverva, Norway. SalMar ASA is a subsidiary of Kverva Industrier AS.
Company Analysis and Financial Data Status
|Data||Last Updated (UTC time)|
|Company Analysis||2020/04/09 23:02|
|End of Day Share Price||2020/04/08 00:00|
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.