SALMAR ASA (SALM.OL) Stock Fundamental Analysis
OSL:SALM - Euronext Oslo - NO0010310956 - Common Stock - Currency: NOK
Overall SALM gets a fundamental rating of 5 out of 10. We evaluated SALM against 59 industry peers in the Food Products industry. While SALM is still in line with the averages on profitability rating, there are concerns on its financial health. SALM has a correct valuation and a medium growth rate. Finally SALM also has an excellent dividend rating.
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.
SALM had positive earnings in each of the past 5 years.
Each year in the past 5 years SALM had a positive operating cash flow.
1.2 Ratios
Looking at the Return On Assets, with a value of 3.33%, SALM is in line with its industry, outperforming 50.85% of the companies in the same industry.
With a decent Return On Equity value of 9.85%, SALM is doing good in the industry, outperforming 61.02% of the companies in the same industry.
The Return On Invested Capital of SALM (4.47%) is comparable to the rest of the industry.
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 6.58%.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.33% | ||
| ROE | 9.85% | ||
| ROIC | 4.47% |
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 (7.27%) is better than 76.27% of its industry peers.
SALM's Profit Margin has declined in the last couple of years.
SALM has a better Operating Margin (15.31%) than 84.75% of its industry peers.
SALM's Operating Margin has declined in the last couple of years.
SALM has a better Gross Margin (52.54%) than 77.97% of its industry peers.
SALM's Gross Margin has been stable in the last couple of years.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| OM | 15.31% | ||
| PM (TTM) | 7.27% | ||
| GM | 52.54% |
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
The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SALM is destroying value.
The number of shares outstanding for SALM remains at a similar level compared to 1 year ago.
Compared to 5 years ago, SALM has more shares outstanding
Compared to 1 year ago, SALM has a worse debt to assets ratio.
2.2 Solvency
SALM has an Altman-Z score of 2.16. This is not the best score and indicates that SALM is in the grey zone with still only limited risk for bankruptcy at the moment.
SALM has a Altman-Z score (2.16) which is in line with its industry peers.
A Debt/Equity ratio of 1.07 is on the high side and indicates that SALM has dependencies on debt financing.
SALM has a Debt to Equity ratio of 1.07. This is in the lower half of the industry: SALM underperforms 76.27% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | N/A | ||
| Altman-Z | 2.16 |
ROIC/WACC0.59
WACC7.53%
2.3 Liquidity
A Current Ratio of 2.49 indicates that SALM has no problem at all paying its short term obligations.
SALM's Current ratio of 2.49 is amongst the best of the industry. SALM outperforms 81.36% of its industry peers.
SALM has a Quick Ratio of 2.49. This is a bad value and indicates that SALM is not financially healthy enough and could expect problems in meeting its short term obligations.
With a Quick ratio value of 0.33, SALM is not doing good in the industry: 91.53% of the companies in the same industry are doing better.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Current Ratio | 2.49 | ||
| Quick Ratio | 0.33 |
3. Growth
3.1 Past
SALM shows a strong growth in Earnings Per Share. In the last year, the EPS has been growing by 47.37%, which is quite impressive.
The Earnings Per Share has been decreasing by -0.01% on average over the past years.
The Revenue for SALM has decreased by -10.42% in the past year. This is quite bad
Measured over the past years, SALM shows a quite strong growth in Revenue. The Revenue has been growing by 16.65% on average per year.
EPS 1Y (TTM)47.37%
EPS 3Y7.44%
EPS 5Y-0.01%
EPS Q2Q%-59.46%
Revenue 1Y (TTM)-10.42%
Revenue growth 3Y20.66%
Revenue growth 5Y16.65%
Sales Q2Q%-20.78%
3.2 Future
The Earnings Per Share is expected to grow by 30.35% on average over the next years. This is a very strong growth
The Revenue is expected to grow by 11.39% on average over the next years. This is quite good.
EPS Next Y56.14%
EPS Next 2Y40.17%
EPS Next 3Y30.35%
EPS Next 5YN/A
Revenue Next Year14.77%
Revenue Next 2Y13.04%
Revenue Next 3Y11.23%
Revenue Next 5Y11.39%
3.3 Evolution
When comparing the EPS growth rate of the last years to the growth rate of the upcoming years, we see that the growth is accelerating.
The estimated forward Revenue growth is still strong, although it is decreasing when compared to the stronger growth in the past years.
4. Valuation
4.1 Price/Earnings Ratio
A Price/Earnings ratio of 26.50 indicates a quite expensive valuation of SALM.
62.71% of the companies in the same industry are cheaper than SALM, based on the Price/Earnings ratio.
SALM's Price/Earnings ratio indicates a similar valuation than the S&P500 average which is at 26.76.
With a Price/Forward Earnings ratio of 11.34, the valuation of SALM can be described as very reasonable.
SALM's Price/Forward Earnings ratio is a bit cheaper when compared to the industry. SALM is cheaper than 71.19% of the companies in the same industry.
The average S&P500 Price/Forward Earnings ratio is at 34.91. SALM is valued rather cheaply when compared to this.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.5 | ||
| Fwd PE | 11.34 |
4.2 Price Multiples
SALM's Enterprise Value to EBITDA ratio is a bit more expensive when compared to the industry. SALM is more expensive than 72.88% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | N/A | ||
| EV/EBITDA | 15.11 |
4.3 Compensation for Growth
SALM's low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
SALM has a very decent profitability rating, which may justify a higher PE ratio.
A more expensive valuation may be justified as SALM's earnings are expected to grow with 30.35% in the coming years.
PEG (NY)0.47
PEG (5Y)N/A
EPS Next 2Y40.17%
EPS Next 3Y30.35%
5. Dividend
5.1 Amount
With a Yearly Dividend Yield of 4.89%, SALM is a good candidate for dividend investing.
Compared to an average industry Dividend Yield of 3.36, SALM pays a better dividend. On top of this SALM pays more dividend than 83.05% of the companies listed in the same industry.
SALM's Dividend Yield is rather good when compared to the S&P500 average which is at 2.36.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
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
259.66% of the earnings are spent on dividend by SALM. This is not a sustainable payout ratio.
The dividend of SALM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP259.66%
EPS Next 2Y40.17%
EPS Next 3Y30.35%
OSL:SALM (8/21/2025, 7:00:00 PM)
497.2
+24.4 (+5.16%)
Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)
Earnings (Next)
Inst Owners74.57%
Inst Owner ChangeN/A
Ins Owners0.05%
Ins Owner ChangeN/A
Market Cap66.51B
Analysts76.84
Price Target548.2 (10.26%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 4.89% |
Yearly Dividend35.51
Dividend Growth(5Y)8.89%
DP259.66%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-13.35%
Min EPS beat(2)-46.06%
Max EPS beat(2)19.36%
EPS beat(4)1
Avg EPS beat(4)-17.34%
Min EPS beat(4)-46.06%
Max EPS beat(4)19.36%
EPS beat(8)1
Avg EPS beat(8)-37.21%
EPS beat(12)2
Avg EPS beat(12)-28.74%
EPS beat(16)2
Avg EPS beat(16)-28.34%
Revenue beat(2)1
Avg Revenue beat(2)0.38%
Min Revenue beat(2)-0.11%
Max Revenue beat(2)0.87%
Revenue beat(4)1
Avg Revenue beat(4)-1.39%
Min Revenue beat(4)-4.35%
Max Revenue beat(4)0.87%
Revenue beat(8)3
Avg Revenue beat(8)-1.72%
Revenue beat(12)6
Avg Revenue beat(12)0.34%
Revenue beat(16)9
Avg Revenue beat(16)0.73%
PT rev (1m)-1.58%
PT rev (3m)-15.01%
EPS NQ rev (1m)-57.33%
EPS NQ rev (3m)-89.13%
EPS NY rev (1m)0%
EPS NY rev (3m)0%
Revenue NQ rev (1m)0.34%
Revenue NQ rev (3m)-22.21%
Revenue NY rev (1m)-2.93%
Revenue NY rev (3m)-2.93%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 26.5 | ||
| Fwd PE | 11.34 | ||
| P/S | 2.65 | ||
| P/FCF | N/A | ||
| P/OCF | 40.21 | ||
| P/B | 3.6 | ||
| P/tB | N/A | ||
| EV/EBITDA | 15.11 |
EPS(TTM)18.76
EY3.77%
EPS(NY)43.84
Fwd EY8.82%
FCF(TTM)-7.2
FCFYN/A
OCF(TTM)12.37
OCFY2.49%
SpS187.39
BVpS138.23
TBVpS-15.68
PEG (NY)0.47
PEG (5Y)N/A
Profitability
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| ROA | 3.33% | ||
| ROE | 9.85% | ||
| ROCE | 8.02% | ||
| ROIC | 4.47% | ||
| ROICexc | 4.51% | ||
| ROICexgc | 7.95% | ||
| OM | 15.31% | ||
| PM (TTM) | 7.27% | ||
| GM | 52.54% | ||
| FCFM | N/A |
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%
ROICexcg growth 3Y-3.4%
ROICexcg 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-Score3
Asset Turnover0.46
Health
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.07 | ||
| Debt/FCF | N/A | ||
| Debt/EBITDA | 3.5 | ||
| Cap/Depr | 145.23% | ||
| Cap/Sales | 10.44% | ||
| Interest Coverage | 3.04 | ||
| Cash Conversion | 29.33% | ||
| Profit Quality | N/A | ||
| Current Ratio | 2.49 | ||
| Quick Ratio | 0.33 | ||
| Altman-Z | 2.16 |
F-Score3
WACC7.53%
ROIC/WACC0.59
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)47.37%
EPS 3Y7.44%
EPS 5Y-0.01%
EPS Q2Q%-59.46%
EPS Next Y56.14%
EPS Next 2Y40.17%
EPS Next 3Y30.35%
EPS Next 5YN/A
Revenue 1Y (TTM)-10.42%
Revenue growth 3Y20.66%
Revenue growth 5Y16.65%
Sales Q2Q%-20.78%
Revenue Next Year14.77%
Revenue Next 2Y13.04%
Revenue Next 3Y11.23%
Revenue Next 5Y11.39%
EBIT growth 1Y-46.63%
EBIT growth 3Y15.83%
EBIT growth 5Y12.08%
EBIT Next Year48.46%
EBIT Next 3Y31.27%
EBIT Next 5YN/A
FCF growth 1Y-121.88%
FCF growth 3Y59.94%
FCF growth 5Y10.72%
OCF growth 1Y-67.02%
OCF growth 3Y22.76%
OCF growth 5Y12.18%