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SalMar ASA
OSE:SALM

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SalMar ASA
OSE:SALM
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Price: 539 NOK -1.19% Market Closed
Market Cap: kr73.1B

EV/EBITDA

18.5
Current
47%
More Expensive
vs 3-y average of 12.6

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
18.5
=
Enterprise Value
kr97.3B
/
EBITDA
kr5.2B

Enterprise Value to EBITDA (EV/EBITDA) ratio compares a company`s total enterprise value to its earnings before interest, taxes, depreciation, and amortization. It shows how much investors are paying for each dollar of the company`s earnings, including both equity and debt.

EV/EBITDA
18.5
=
Enterprise Value
kr97.3B
/
EBITDA
kr5.2B

Valuation Scenarios

SalMar ASA is trading above its 3-year average

If EV/EBITDA returns to its 3-Year Average (12.6), the stock would be worth kr367.21 (32% downside from current price).

Statistics
Positive Scenarios
0/4
Maximum Downside
-58%
Maximum Upside
No Upside Scenarios
Average Downside
42%
Scenario EV/EBITDA Value Implied Price Upside/Downside
Current Multiple 18.5 kr539
0%
3-Year Average 12.6 kr367.21
-32%
5-Year Average 14 kr407.28
-24%
Industry Average 8.8 kr256.69
-52%
Country Average 7.8 kr226.61
-58%

Forward EV/EBITDA
Today’s price vs future ebitda

Today's Enterprise Value EBITDA Forward EV/EBITDA
kr97.3B
/
Jan 2026
kr5.2B
=
18.5
Current
kr97.3B
/
Dec 2026
kr10.2B
=
9.5
Forward
kr97.3B
/
Dec 2027
kr12.2B
=
8
Forward
kr97.3B
/
Dec 2028
kr13B
=
7.5
Forward

Forward EV/EBITDA shows whether today’s EV/EBITDA still looks high or low once future ebitda are taken into account.

Peer Comparison

All Multiples
EV/EBITDA
P/E
All Countries
Close
Market Cap EV/EBITDA P/E
NO
SalMar ASA
OSE:SALM
73.8B NOK 18.5 68.5
JP
Goyo Foods Industry Co Ltd
TSE:2230
53.2T JPY 186 542.5 540 752.8
CH
Nestle SA
SIX:NESN
193.8B CHF 13.3 21.5
US
Mondelez International Inc
NASDAQ:MDLZ
71.9B USD 17.9 29.3
FR
Danone SA
PAR:BN
43.5B EUR 9.8 24
ZA
Tiger Brands Ltd
JSE:TBS
49.6B ZAR 9.6 13
US
Hershey Co
NYSE:HSY
38.3B USD 21.1 43.3
CN
Muyuan Foods Co Ltd
SZSE:002714
248.4B CNY 15.7 15.8
CN
Foshan Haitian Flavouring and Food Co Ltd
SSE:603288
237.4B CNY 25.5 33.7
ZA
Avi Ltd
JSE:AVI
33.8B ZAR 8.9 13.1
CH
Chocoladefabriken Lindt & Spruengli AG
SIX:LISN
23.6B CHF 18.9 31.9

Market Distribution

Higher than 72% of companies in Norway
Percentile
72st
Based on 539 companies
72st percentile
18.5
Low
0.1 — 2.2
Typical Range
2.2 — 16.6
High
16.6 —
Distribution Statistics
Norway
Min 0.1
30th Percentile 2.2
Median 7.8
70th Percentile 16.6
Max 40 612.5

SalMar ASA
Glance View

SalMar ASA, a key player in the global aquaculture realm, began its journey in 1991, on the rugged coasts of Norway. Founded by Gustav Witzøe, the company has forged its reputation by pioneering sustainable fish farming practices. In a world of increasing demand for protein, SalMar specializes in the farming, processing, and selling of farmed salmon. This simple yet demanding business model starts in the fjords of Norway, where SalMar utilizes modern biotechnological advances and cutting-edge marine engineering to nurture Atlantic salmon in optimal, controlled sea environments. The company's operational strategy revolves around vertically integrated operations. From its hatcheries and sea farms to its state-of-the-art harvesting and processing facilities, SalMar ensures the highest quality standards at every step. By maintaining control over the entire production chain, SalMar not only upholds sustainable practices but also capitalizes on efficiencies and cost synergies. This end-to-end approach allows SalMar to generate robust revenue streams, appealing to both domestic and international markets hungry for premium seafood. SalMar's adeptness at aligning economic profitability with environmental stewardship has fortified its position as a leading harvester of the ocean's bounty, ensuring the company remains buoyant amidst the tides of global demand shifts.

SALM Intrinsic Value
640.7 NOK
Undervaluation 16%
Intrinsic Value
Price kr539
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