SalMar Valuation
Is SALM undervalued compared to its fair value, analyst forecasts and its price relative to the market?
Valuation Score
2/6Valuation Score 2/6
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 SALM when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.
Below Fair Value: SALM (NOK634.5) is trading below our estimate of fair value (NOK1524.64)
Significantly Below Fair Value: SALM is trading below fair value by more than 20%.
Key Valuation Metric
Which metric is best to use when looking at relative valuation for SALM?
Other financial metrics that can be useful for relative valuation.
| What is SALM's n/a Ratio? | |
|---|---|
| n/a | 0x |
| n/a | n/a |
| Market Cap | NOK 83.60b |
| Key Statistics | |
|---|---|
| Enterprise Value/Revenue | 3.7x |
| Enterprise Value/EBITDA | 11.5x |
| PEG Ratio | 1.3x |
Price to Earnings Ratio vs Peers
How does SALM's PE Ratio compare to its peers?
| Company | Forward PE | Estimated Growth | Market Cap |
|---|---|---|---|
| Peer Average | 20.2x | ||
ORK Orkla | 15.1x | 3.6% | NOK 91.3b |
MOWI Mowi | 25x | 42.5% | NOK 98.3b |
BAKKA P/F Bakkafrost | 24.5x | 25.8% | NOK 34.5b |
MAS Måsøval | 16x | 23.2% | NOK 3.9b |
SALM SalMar | 48x | 37.5% | NOK 83.6b |
Price-To-Earnings vs Peers: SALM is expensive based on its Price-To-Earnings Ratio (48x) compared to the peer average (20.2x).
Price to Earnings Ratio vs Industry
How does SALM's PE Ratio compare vs other companies in the European Food Industry?
Price-To-Earnings vs Industry: SALM is expensive based on its Price-To-Earnings Ratio (48x) compared to the European Food industry average (14.9x).
Price to Earnings Ratio vs Fair Ratio
What is SALM'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.
| Fair Ratio | |
|---|---|
| Current PE Ratio | 48x |
| Fair PE Ratio | 31.8x |
Price-To-Earnings vs Fair Ratio: SALM is expensive based on its Price-To-Earnings Ratio (48x) compared to the estimated Fair Price-To-Earnings Ratio (31.8x).
Analyst Price Targets
What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?
| Date | Share Price | Average 1Y Price Target | Dispersion | High | Low | 1Y Actual price | Analysts |
|---|---|---|---|---|---|---|---|
| Current | NOK 634.50 | NOK 685.13 +8.0% | 8.1% | NOK 760.00 | NOK 588.00 | n/a | 8 |
| Aug ’25 | NOK 623.50 | NOK 677.00 +8.6% | 8.3% | NOK 760.00 | NOK 580.00 | n/a | 9 |
| Jul ’25 | NOK 554.00 | NOK 685.00 +23.6% | 9.1% | NOK 770.00 | NOK 580.00 | n/a | 9 |
| Jun ’25 | NOK 638.50 | NOK 698.89 +9.5% | 8.8% | NOK 820.00 | NOK 630.00 | n/a | 9 |
| May ’25 | NOK 701.50 | NOK 710.13 +1.2% | 7.8% | NOK 820.00 | NOK 640.00 | n/a | 8 |
| Apr ’25 | NOK 715.40 | NOK 699.00 -2.3% | 7.7% | NOK 820.00 | NOK 650.00 | n/a | 8 |
| Mar ’25 | NOK 680.20 | NOK 670.75 -1.4% | 5.9% | NOK 730.00 | NOK 600.00 | n/a | 8 |
| Feb ’25 | NOK 581.40 | NOK 652.38 +12.2% | 4.8% | NOK 705.00 | NOK 600.00 | n/a | 8 |
| Jan ’25 | NOK 569.20 | NOK 615.00 +8.0% | 10.6% | NOK 680.00 | NOK 480.00 | n/a | 8 |
| Dec ’24 | NOK 593.40 | NOK 615.00 +3.6% | 10.6% | NOK 680.00 | NOK 480.00 | n/a | 8 |
| Nov ’24 | NOK 533.00 | NOK 581.25 +9.1% | 7.8% | NOK 625.00 | NOK 480.00 | n/a | 8 |
| Oct ’24 | NOK 543.40 | NOK 569.38 +4.8% | 10.5% | NOK 630.00 | NOK 460.00 | n/a | 8 |
| Sep ’24 | NOK 524.00 | NOK 548.75 +4.7% | 9.2% | NOK 605.00 | NOK 460.00 | n/a | 8 |
| Aug ’24 | NOK 469.70 | NOK 561.88 +19.6% | 11.9% | NOK 652.00 | NOK 460.00 | NOK 623.50 | 8 |
| Jul ’24 | NOK 432.90 | NOK 561.88 +29.8% | 11.9% | NOK 652.00 | NOK 460.00 | NOK 554.00 | 8 |
| Jun ’24 | NOK 486.20 | NOK 553.13 +13.8% | 14.2% | NOK 652.00 | NOK 420.00 | NOK 638.50 | 8 |
| May ’24 | NOK 472.50 | NOK 503.56 +6.6% | 13.5% | NOK 630.00 | NOK 370.00 | NOK 701.50 | 9 |
| Apr ’24 | NOK 455.80 | NOK 491.44 +7.8% | 13.9% | NOK 630.00 | NOK 370.00 | NOK 715.40 | 9 |
| Mar ’24 | NOK 431.60 | NOK 492.78 +14.2% | 13.9% | NOK 630.00 | NOK 370.00 | NOK 680.20 | 9 |
| Feb ’24 | NOK 464.60 | NOK 446.00 -4.0% | 16.6% | NOK 580.00 | NOK 343.00 | NOK 581.40 | 9 |
| Jan ’24 | NOK 384.80 | NOK 434.44 +12.9% | 22.7% | NOK 640.00 | NOK 339.00 | NOK 569.20 | 9 |
| Dec ’23 | NOK 346.20 | NOK 437.00 +26.2% | 24.2% | NOK 640.00 | NOK 329.00 | NOK 593.40 | 8 |
| Nov ’23 | NOK 339.60 | NOK 489.71 +44.2% | 31.9% | NOK 760.00 | NOK 343.00 | NOK 533.00 | 7 |
| Oct ’23 | NOK 367.20 | NOK 699.88 +90.6% | 10.3% | NOK 780.00 | NOK 580.00 | NOK 543.40 | 8 |
| Sep ’23 | NOK 660.50 | NOK 736.75 +11.5% | 10.4% | NOK 875.00 | NOK 610.00 | NOK 524.00 | 8 |
| Aug ’23 | NOK 696.00 | NOK 741.63 +6.6% | 9.7% | NOK 875.00 | NOK 639.00 | NOK 469.70 | 8 |
Analyst Forecast: Target price is less than 20% higher than the current share price.