Company Valuation: SalMar ASA

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 71,481 55,810 67,355 71,232 83,469 71,270 - -
Change - -21.92% 20.69% 5.76% 17.18% -14.61% - -
Enterprise Value (EV) 1 77,024 74,889 80,462 88,031 104,317 90,493 88,595 85,294
Change - -2.77% 7.44% 9.41% 18.5% -13.25% -2.1% -3.73%
P/E 26.9x 13.9x 23.4x 24x 75.3x 19.2x 13.6x 11.8x
PBR 5.41x 2.61x 3.76x 3.98x 4.71x 3.45x 3.15x 2.78x
PEG - 0.6x -1.9x -3.24x -1.2x 0x 0.3x 0.8x
Capitalization / Revenue 4.75x 2.77x 2.39x 2.7x 3.05x 2.3x 2.05x 1.88x
EV / Revenue 5.12x 3.72x 2.85x 3.33x 3.81x 2.93x 2.55x 2.25x
EV / EBITDA 20.6x 13.6x 8.43x 12.4x 17.9x 10.1x 8.03x 6.96x
EV / EBIT 26.3x 16.8x 9.95x 16.2x 27x 13x 9.87x 8.39x
EV / FCF 951x 38.3x 7.5x 27.4x 83.2x 19.6x 15x 13.2x
FCF Yield 0.11% 2.61% 13.3% 3.65% 1.2% 5.1% 6.66% 7.59%
Dividend per Share 2 20 20 35 22 10 21.56 26.32 30.92
Rate of return 3.29% 5.2% 6.15% 4.07% 1.62% 4.12% 5.03% 5.91%
EPS 2 22.61 27.64 24.3 22.5 8.2 27.19 38.44 44.31
Distribution rate 88.5% 72.4% 144% 97.8% 122% 79.3% 68.5% 69.8%
Net sales 1 15,044 20,158 28,219 26,426 27,394 30,929 34,737 37,840
EBITDA 1 3,734 5,502 9,540 7,120 5,812 9,000 11,039 12,253
EBIT 1 2,927 4,465 8,088 5,429 3,867 6,981 8,979 10,167
Net income 1 2,668 3,312 3,203 2,969 1,105 3,663 5,215 6,009
Net Debt 1 5,543 19,079 13,107 16,799 20,848 19,223 17,325 14,024
Reference price 2 608.00 384.80 569.20 540.50 617.50 523.00 523.00 523.00
Nbr of stocks (in thousands) 117,568 145,037 118,333 131,789 135,173 136,272 - -
Announcement Date 18/02/22 21/02/23 15/02/24 18/02/25 10/02/26 - - -
1NOK in Million2NOK
Estimates

P/E, Detailed evolution

P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
19.24x2.93x10.06x4.12% 7.5B
16.17x1.94x9.06x3.98% 11.29B
14.59x0.97x6.55x6.2% 2.65B
13.01x0.66x9.02x2.7% 2.41B
8.69x0.66x3.9x7.42% 1.86B
11.52x0.81x9.27x5.51% 1.56B
8.4x0.34x3.94x3.25% 1.15B
Average 13.09x 1.19x 7.40x 4.74% 4.06B
Weighted average by Cap. 15.50x 1.79x 8.55x 4.4%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA

Year-on-year evolution of the Yield

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