Salmon Evolution ASA

OB:SALME Stock Report

Market Cap: NOK 3.1b

Salmon Evolution Valuation

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

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Sales vs Peers

  • Price-To-Sales vs Industry

  • Price-To-Sales vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

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

Below Fair Value: Insufficient data to calculate SALME's fair value for valuation analysis.

Significantly Below Fair Value: Insufficient data to calculate SALME's fair value for valuation analysis.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for SALME?

Key metric: As SALME is unprofitable we use its Price-To-Sales Ratio for relative valuation analysis.

The above table shows the Price to Sales ratio for SALME. This is calculated by dividing SALME's market cap by their current revenue.
What is SALME's PS Ratio?
PS Ratio7.5x
SalesNOK 410.89m
Market CapNOK 3.07b

Price to Sales Ratio vs Peers

How does SALME's PS Ratio compare to its peers?

The above table shows the PS ratio for SALME vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PSEstimated GrowthMarket Cap
Peer Average8.6x
NOAP Nordic Aqua Partners
27x53.0%NOK 1.6b
MAS Måsøval
1.3x9.4%NOK 3.2b
KLDVK Kaldvik
3.6x41.7%NOK 3.5b
ISLAX Icelandic Salmon
2.5x11.0%NOK 3.7b
SALME Salmon Evolution
7.5x41.2%NOK 3.1b

Price-To-Sales vs Peers: SALME is good value based on its Price-To-Sales Ratio (7.5x) compared to the peer average (8.6x).

Price to Sales Ratio vs Industry

How does SALME's PS Ratio compare vs other companies in the NO Food Industry?

0 CompaniesPrice / SalesEstimated GrowthMarket Cap
No more companies available in this PS range
SALME 7.5xIndustry Avg. 2.5xNo. of Companies3PS01.22.43.64.86+
0 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Sales vs Industry: SALME is expensive based on its Price-To-Sales Ratio (7.5x) compared to the Norwegian Food industry average (2.5x).

Price to Sales Ratio vs Fair Ratio

What is SALME's PS Ratio compared to its Fair PS Ratio? This is the expected PS Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

SALME PS Ratio vs Fair Ratio.
Fair Ratio
Current PS Ratio7.5x
Fair PS Ratio6.5x

Price-To-Sales vs Fair Ratio: SALME is expensive based on its Price-To-Sales Ratio (7.5x) compared to the estimated Fair Price-To-Sales Ratio (6.5x).

Analyst Price Targets

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

The above table shows the analyst SALME forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 6.64
NOK 9.68
+45.8%
7.6%NOK 11.00NOK 8.80n/a6
Dec ’25NOK 6.68
NOK 9.68
+45.0%
7.6%NOK 11.00NOK 8.80n/a6
Nov ’25NOK 6.75
NOK 9.80
+45.2%
6.8%NOK 11.00NOK 9.00n/a5
Oct ’25NOK 6.92
NOK 9.74
+40.8%
7.1%NOK 11.00NOK 9.00n/a5
Sep ’25NOK 6.70
NOK 9.74
+45.4%
7.1%NOK 11.00NOK 9.00n/a5
Aug ’25NOK 7.49
NOK 10.05
+34.2%
6.1%NOK 11.00NOK 9.30n/a4
Jul ’25NOK 7.68
NOK 10.05
+30.9%
6.1%NOK 11.00NOK 9.30n/a4
Jun ’25NOK 8.11
NOK 10.04
+23.8%
5.4%NOK 11.00NOK 9.30n/a5
May ’25NOK 7.28
NOK 9.92
+36.3%
7.4%NOK 11.00NOK 8.70n/a5
Apr ’25NOK 6.38
NOK 9.92
+55.5%
7.4%NOK 11.00NOK 8.70n/a5
Mar ’25NOK 6.33
NOK 9.92
+56.7%
7.4%NOK 11.00NOK 8.70n/a5
Feb ’25NOK 7.22
NOK 9.70
+34.3%
9.0%NOK 11.00NOK 8.50n/a5
Jan ’25NOK 6.78
NOK 10.25
+51.2%
8.1%NOK 11.00NOK 9.00n/a4
Dec ’24NOK 6.19
NOK 10.25
+65.6%
8.1%NOK 11.00NOK 9.00NOK 6.684
Nov ’24NOK 5.98
NOK 10.50
+75.6%
4.8%NOK 11.00NOK 10.00NOK 6.754
Oct ’24NOK 6.21
NOK 10.75
+73.1%
7.7%NOK 12.00NOK 10.00NOK 6.924
Sep ’24NOK 6.20
NOK 10.80
+74.2%
6.9%NOK 12.00NOK 10.00NOK 6.705
Aug ’24NOK 6.87
NOK 11.53
+67.8%
4.6%NOK 12.10NOK 11.00NOK 7.494
Jul ’24NOK 6.36
NOK 11.53
+81.2%
4.6%NOK 12.10NOK 11.00NOK 7.684
Jun ’24NOK 7.09
NOK 11.53
+62.6%
4.6%NOK 12.10NOK 11.00NOK 8.114
May ’24NOK 7.85
NOK 11.67
+48.6%
8.1%NOK 13.00NOK 11.00NOK 7.283
Apr ’24NOK 8.30
NOK 11.94
+43.9%
7.6%NOK 13.00NOK 11.00NOK 6.385
Mar ’24NOK 8.34
NOK 11.90
+42.7%
7.7%NOK 13.00NOK 11.00NOK 6.335
Feb ’24NOK 8.04
NOK 12.00
+49.3%
5.9%NOK 13.00NOK 11.00NOK 7.225
Jan ’24NOK 8.27
NOK 12.00
+45.1%
5.9%NOK 13.00NOK 11.00NOK 6.785
Dec ’23NOK 8.29
NOK 12.00
+44.8%
5.9%NOK 13.00NOK 11.00NOK 6.195

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

Discover undervalued companies

7D

1Y

7D

1Y

7D

1Y

Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2024/12/24 03:07
End of Day Share Price 2024/12/23 00:00
Earnings2024/09/30
Annual Earnings2023/12/31

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.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* 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

Salmon Evolution ASA is covered by 7 analysts. 5 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
Stein AuknerDNB Markets
Nils Olav ThommesenFearnley Securities
Theodor RosenbergFearnley Securities