SALMAR ASA (SALM.OL) Stock Fundamental Analysis
Europe • Euronext Oslo • OSL:SALM • NO0010310956
595 NOK
+12.5 (+2.15%)
Last: Feb 11, 2026, 04:25 PM
Taking everything into account, SALM scores 4 out of 10 in our fundamental rating. SALM was compared to 62 industry peers in the Food Products industry. There are concerns on the financial health of SALM while its profitability can be described as average. SALM is quite expensive at the moment. It does show a decent growth rate.
1. Profitability
1.1 Basic Checks
- In the past year SALM was profitable.
- In the past year SALM had a positive cash flow from operations.
- Each year in the past 5 years SALM has been profitable.
- In the past 5 years SALM always reported a positive cash flow from operatings.
1.2 Ratios
- SALM's Return On Assets of 2.04% is in line compared to the rest of the industry. SALM outperforms 41.94% of its industry peers.
- SALM has a Return On Equity of 7.00%. This is comparable to the rest of the industry: SALM outperforms 53.23% of its industry peers.
- SALM's Return On Invested Capital of 2.74% is on the low side compared to the rest of the industry. SALM is outperformed by 67.74% of its industry peers.
- SALM had an Average Return On Invested Capital over the past 3 years of 7.18%. This is in line with the industry average of 6.69%.
- The last Return On Invested Capital (2.74%) for SALM is well below the 3 year average (7.18%), which needs to be investigated, but indicates that SALM had better years and this may not be a problem.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.04% | ||
| ROE | 7% | ||
| ROIC | 2.74% |
ROA(3y)5.59%
ROA(5y)7.01%
ROE(3y)16.59%
ROE(5y)17.93%
ROIC(3y)7.18%
ROIC(5y)7.81%
1.3 Margins
- The Profit Margin of SALM (4.36%) is comparable to the rest of the industry.
- In the last couple of years the Profit Margin of SALM has declined.
- Looking at the Operating Margin, with a value of 8.93%, SALM is in the better half of the industry, outperforming 64.52% of the companies in the same industry.
- SALM's Operating Margin has declined in the last couple of years.
- SALM has a Gross Margin of 46.22%. This is in the better half of the industry: SALM outperforms 69.35% of its industry peers.
- In the last couple of years the Gross Margin of SALM has remained more or less at the same level.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 8.93% | ||
| PM (TTM) | 4.36% | ||
| GM | 46.22% |
OM growth 3Y-4%
OM growth 5Y-3.92%
PM growth 3Y-13.56%
PM growth 5Y-11.19%
GM growth 3Y0.57%
GM growth 5Y-0.26%
2. Health
2.1 Basic Checks
- With a Return on Invested Capital (ROIC) below the Cost of Capital (WACC), SALM is destroying value.
- SALM has about the same amout of shares outstanding than it did 1 year ago.
- SALM has more shares outstanding than it did 5 years ago.
- The debt/assets ratio for SALM is higher compared to a year ago.
2.2 Solvency
- An Altman-Z score of 2.10 indicates that SALM is not a great score, but indicates only limited risk for bankruptcy at the moment.
- SALM has a Altman-Z score of 2.10. This is comparable to the rest of the industry: SALM outperforms 51.61% of its industry peers.
- The Debt to FCF ratio of SALM is 25.07, which is on the high side as it means it would take SALM, 25.07 years of fcf income to pay off all of its debts.
- SALM's Debt to FCF ratio of 25.07 is in line compared to the rest of the industry. SALM outperforms 40.32% of its industry peers.
- A Debt/Equity ratio of 1.31 is on the high side and indicates that SALM has dependencies on debt financing.
- With a Debt to Equity ratio value of 1.31, SALM is not doing good in the industry: 80.65% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.31 | ||
| Debt/FCF | 25.07 | ||
| Altman-Z | 2.1 |
ROIC/WACC0.36
WACC7.7%
2.3 Liquidity
- A Current Ratio of 2.18 indicates that SALM has no problem at all paying its short term obligations.
- SALM has a Current ratio of 2.18. This is amongst the best in the industry. SALM outperforms 80.65% of its industry peers.
- SALM has a Quick Ratio of 2.18. This is a bad value and indicates that SALM is not financially healthy enough and could expect problems in meeting its short term obligations.
- SALM has a worse Quick ratio (0.37) than 85.48% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.18 | ||
| Quick Ratio | 0.37 |
3. Growth
3.1 Past
- SALM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -37.35%.
- SALM shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.01% yearly.
- The Revenue has been growing slightly by 1.97% in the past year.
- The Revenue has been growing by 16.65% on average over the past years. This is quite good.
EPS 1Y (TTM)-37.35%
EPS 3Y7.44%
EPS 5Y-0.01%
EPS Q2Q%-53.41%
Revenue 1Y (TTM)1.97%
Revenue growth 3Y20.66%
Revenue growth 5Y16.65%
Sales Q2Q%27.48%
3.2 Future
- SALM is expected to show a strong growth in Earnings Per Share. In the coming years, the EPS will grow by 25.69% yearly.
- Based on estimates for the next years, SALM will show a quite strong growth in Revenue. The Revenue will grow by 9.49% on average per year.
EPS Next Y-39.19%
EPS Next 2Y28.52%
EPS Next 3Y25.69%
EPS Next 5YN/A
Revenue Next Year6.16%
Revenue Next 2Y11.84%
Revenue Next 3Y11.53%
Revenue Next 5Y9.49%
3.3 Evolution
- The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
- When comparing the Revenue growth rate of the last years to the growth rate of the upcoming years, we see that the growth is decreasing.
4. Valuation
4.1 Price/Earnings Ratio
- The Price/Earnings ratio is 46.05, which means the current valuation is very expensive for SALM.
- 64.52% of the companies in the same industry are cheaper than SALM, based on the Price/Earnings ratio.
- SALM's Price/Earnings ratio indicates a rather expensive valuation when compared to the S&P500 average which is at 28.03.
- With a Price/Forward Earnings ratio of 16.15, SALM is valued correctly.
- The rest of the industry has a similar Price/Forward Earnings ratio as SALM.
- When comparing the Price/Forward Earnings ratio of SALM to the average of the S&P500 Index (27.97), we can say SALM is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.05 | ||
| Fwd PE | 16.15 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SALM indicates a slightly more expensive valuation: SALM is more expensive than 74.19% of the companies listed in the same industry.
- SALM's Price/Free Cash Flow ratio is in line with the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 83.91 | ||
| EV/EBITDA | 23.55 |
4.3 Compensation for Growth
- SALM's earnings are expected to grow with 25.69% in the coming years. This may justify a more expensive valuation.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.52%
EPS Next 3Y25.69%
5. Dividend
5.1 Amount
- SALM has a Yearly Dividend Yield of 3.70%.
- SALM's Dividend Yield is a higher than the industry average which is at 3.02.
- SALM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.80.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.7% |
5.2 History
- On average, the dividend of SALM grows each year by 8.89%, which is quite nice.
Dividend Growth(5Y)8.89%
Div Incr Years0
Div Non Decr Years0
5.3 Sustainability
- 429.58% of the earnings are spent on dividend by SALM. This is not a sustainable payout ratio.
- SALM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP429.58%
EPS Next 2Y28.52%
EPS Next 3Y25.69%
OSL:SALM (2/11/2026, 4:25:35 PM)
595
+12.5 (+2.15%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)11-06 2025-11-06/bmo
Earnings (Next)02-10 2026-02-10/amc
Inst Owners77.58%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap80.56B
Revenue(TTM)27.09B
Net Income(TTM)1.18B
Analysts75.29
Price Target616.17 (3.56%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.7% |
Yearly Dividend35.51
Dividend Growth(5Y)8.89%
DP429.58%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)28.44%
Min EPS beat(2)-47.87%
Max EPS beat(2)104.75%
EPS beat(4)2
Avg EPS beat(4)7.54%
Min EPS beat(4)-47.87%
Max EPS beat(4)104.75%
EPS beat(8)2
Avg EPS beat(8)-8.08%
EPS beat(12)3
Avg EPS beat(12)-18.82%
EPS beat(16)3
Avg EPS beat(16)-20.24%
Revenue beat(2)1
Avg Revenue beat(2)-5.49%
Min Revenue beat(2)-11.12%
Max Revenue beat(2)0.15%
Revenue beat(4)2
Avg Revenue beat(4)-2.55%
Min Revenue beat(4)-11.12%
Max Revenue beat(4)0.87%
Revenue beat(8)3
Avg Revenue beat(8)-2.67%
Revenue beat(12)6
Avg Revenue beat(12)-0.38%
Revenue beat(16)8
Avg Revenue beat(16)-0.21%
PT rev (1m)-0.75%
PT rev (3m)4.21%
EPS NQ rev (1m)6.32%
EPS NQ rev (3m)6.67%
EPS NY rev (1m)-1.86%
EPS NY rev (3m)-4.97%
Revenue NQ rev (1m)-0.01%
Revenue NQ rev (3m)-4%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.36%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.05 | ||
| Fwd PE | 16.15 | ||
| P/S | 2.97 | ||
| P/FCF | 83.91 | ||
| P/OCF | 26.62 | ||
| P/B | 4.78 | ||
| P/tB | N/A | ||
| EV/EBITDA | 23.55 |
EPS(TTM)12.92
EY2.17%
EPS(NY)36.85
Fwd EY6.19%
FCF(TTM)7.09
FCFY1.19%
OCF(TTM)22.35
OCFY3.76%
SpS200.12
BVpS124.5
TBVpS-41
PEG (NY)N/A
PEG (5Y)N/A
Graham Number190.24
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 2.04% | ||
| ROE | 7% | ||
| ROCE | 4.91% | ||
| ROIC | 2.74% | ||
| ROICexc | 2.79% | ||
| ROICexgc | 5.19% | ||
| OM | 8.93% | ||
| PM (TTM) | 4.36% | ||
| GM | 46.22% | ||
| FCFM | 3.54% |
ROA(3y)5.59%
ROA(5y)7.01%
ROE(3y)16.59%
ROE(5y)17.93%
ROIC(3y)7.18%
ROIC(5y)7.81%
ROICexc(3y)7.39%
ROICexc(5y)8.02%
ROICexgc(3y)13.13%
ROICexgc(5y)13.77%
ROCE(3y)12.87%
ROCE(5y)13.99%
ROICexgc growth 3Y-3.4%
ROICexgc growth 5Y-6.43%
ROICexc growth 3Y-7.07%
ROICexc growth 5Y-10.05%
OM growth 3Y-4%
OM growth 5Y-3.92%
PM growth 3Y-13.56%
PM growth 5Y-11.19%
GM growth 3Y0.57%
GM growth 5Y-0.26%
F-Score4
Asset Turnover0.47
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.31 | ||
| Debt/FCF | 25.07 | ||
| Debt/EBITDA | 5.08 | ||
| Cap/Depr | 107.83% | ||
| Cap/Sales | 7.63% | ||
| Interest Coverage | 1.67 | ||
| Cash Conversion | 69.79% | ||
| Profit Quality | 81.36% | ||
| Current Ratio | 2.18 | ||
| Quick Ratio | 0.37 | ||
| Altman-Z | 2.1 |
F-Score4
WACC7.7%
ROIC/WACC0.36
Cap/Depr(3y)181.78%
Cap/Depr(5y)256.7%
Cap/Sales(3y)10.1%
Cap/Sales(5y)14.83%
Profit Quality(3y)125.18%
Profit Quality(5y)N/A
High Growth Momentum
Growth
EPS 1Y (TTM)-37.35%
EPS 3Y7.44%
EPS 5Y-0.01%
EPS Q2Q%-53.41%
EPS Next Y-39.19%
EPS Next 2Y28.52%
EPS Next 3Y25.69%
EPS Next 5YN/A
Revenue 1Y (TTM)1.97%
Revenue growth 3Y20.66%
Revenue growth 5Y16.65%
Sales Q2Q%27.48%
Revenue Next Year6.16%
Revenue Next 2Y11.84%
Revenue Next 3Y11.53%
Revenue Next 5Y9.49%
EBIT growth 1Y-54.79%
EBIT growth 3Y15.83%
EBIT growth 5Y12.08%
EBIT Next Year7.3%
EBIT Next 3Y30.47%
EBIT Next 5YN/A
FCF growth 1Y-83.63%
FCF growth 3Y59.94%
FCF growth 5Y10.72%
OCF growth 1Y-60.06%
OCF growth 3Y22.76%
OCF growth 5Y12.18%
SALMAR ASA / SALM.OL FAQ
Can you provide the ChartMill fundamental rating for SALMAR ASA?
ChartMill assigns a fundamental rating of 4 / 10 to SALM.OL.
Can you provide the valuation status for SALMAR ASA?
ChartMill assigns a valuation rating of 2 / 10 to SALMAR ASA (SALM.OL). This can be considered as Overvalued.
Can you provide the profitability details for SALMAR ASA?
SALMAR ASA (SALM.OL) has a profitability rating of 5 / 10.
What is the earnings growth outlook for SALMAR ASA?
The Earnings per Share (EPS) of SALMAR ASA (SALM.OL) is expected to decline by -39.19% in the next year.
How sustainable is the dividend of SALMAR ASA (SALM.OL) stock?
The dividend rating of SALMAR ASA (SALM.OL) is 6 / 10 and the dividend payout ratio is 429.58%.