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MOWI ASA (MOWI.OL) Stock Fundamental Analysis

OSL:MOWI - Oslo Bors ASA - NO0003054108 - Common Stock - Currency: NOK

218.8  -0.4 (-0.18%)

Fundamental Rating

5

Overall MOWI gets a fundamental rating of 5 out of 10. We evaluated MOWI against 60 industry peers in the Food Products industry. Both the profitability and the financial health of MOWI get a neutral evaluation. Nothing too spectacular is happening here. MOWI is valued correctly, but it does not seem to be growing.


Dividend Valuation Growth Profitability Health

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6

1. Profitability

1.1 Basic Checks

In the past year MOWI was profitable.
In the past year MOWI had a positive cash flow from operations.
In the past 5 years MOWI has always been profitable.
MOWI had a positive operating cash flow in each of the past 5 years.
MOWI.OL Yearly Net Income VS EBIT VS OCF VS FCFMOWI.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M 800M

1.2 Ratios

The Return On Assets of MOWI (5.38%) is better than 75.44% of its industry peers.
MOWI has a better Return On Equity (11.83%) than 66.67% of its industry peers.
The Return On Invested Capital of MOWI (6.94%) is better than 70.18% of its industry peers.
MOWI had an Average Return On Invested Capital over the past 3 years of 7.96%. This is in line with the industry average of 6.86%.
Industry RankSector Rank
ROA 5.38%
ROE 11.83%
ROIC 6.94%
ROA(3y)7.86%
ROA(5y)6.75%
ROE(3y)16.75%
ROE(5y)14.21%
ROIC(3y)7.96%
ROIC(5y)7.43%
MOWI.OL Yearly ROA, ROE, ROICMOWI.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2015 2016 2017 2018 2019 2020 2021 2022 2023 5 10 15 20 25

1.3 Margins

MOWI has a Profit Margin of 7.77%. This is in the better half of the industry: MOWI outperforms 78.95% of its industry peers.
MOWI's Profit Margin has declined in the last couple of years.
Looking at the Operating Margin, with a value of 13.21%, MOWI is in the better half of the industry, outperforming 78.95% of the companies in the same industry.
In the last couple of years the Operating Margin of MOWI has declined.
With a decent Gross Margin value of 47.54%, MOWI is doing good in the industry, outperforming 73.68% of the companies in the same industry.
MOWI's Gross Margin has been stable in the last couple of years.
Industry RankSector Rank
OM 13.21%
PM (TTM) 7.77%
GM 47.54%
OM growth 3Y23.77%
OM growth 5Y-2.57%
PM growth 3Y37.21%
PM growth 5Y-11.5%
GM growth 3Y1.84%
GM growth 5Y-0.85%
MOWI.OL Yearly Profit, Operating, Gross MarginsMOWI.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2015 2016 2017 2018 2019 2020 2021 2022 2023 10 20 30 40 50

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6

2. Health

2.1 Basic Checks

The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so MOWI is still creating some value.
MOWI has about the same amout of shares outstanding than it did 1 year ago.
The number of shares outstanding for MOWI has been increased compared to 5 years ago.
The debt/assets ratio for MOWI has been reduced compared to a year ago.
MOWI.OL Yearly Shares OutstandingMOWI.OL Yearly Shares OutstandingYearly Shares Outstanding 2015 2016 2017 2018 2019 2020 2021 2022 2023 100M 200M 300M 400M 500M
MOWI.OL Yearly Total Debt VS Total AssetsMOWI.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2015 2016 2017 2018 2019 2020 2021 2022 2023 2B 4B 6B 8B

2.2 Solvency

MOWI has a debt to FCF ratio of 4.68. This is a neutral value as MOWI would need 4.68 years to pay back of all of its debts.
With a decent Debt to FCF ratio value of 4.68, MOWI is doing good in the industry, outperforming 70.18% of the companies in the same industry.
MOWI has a Debt/Equity ratio of 0.58. This is a neutral value indicating MOWI is somewhat dependend on debt financing.
MOWI's Debt to Equity ratio of 0.58 is in line compared to the rest of the industry. MOWI outperforms 52.63% of its industry peers.
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 4.68
Altman-Z N/A
ROIC/WACC0.97
WACC7.13%
MOWI.OL Yearly LT Debt VS Equity VS FCFMOWI.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

2.3 Liquidity

MOWI has a Current Ratio of 2.76. This indicates that MOWI is financially healthy and has no problem in meeting its short term obligations.
MOWI has a better Current ratio (2.76) than 85.96% of its industry peers.
A Quick Ratio of 2.30 indicates that MOWI has no problem at all paying its short term obligations.
With an excellent Quick ratio value of 2.30, MOWI belongs to the best of the industry, outperforming 92.98% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.76
Quick Ratio 2.3
MOWI.OL Yearly Current Assets VS Current LiabilitesMOWI.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2015 2016 2017 2018 2019 2020 2021 2022 2023 1B 2B 3B

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3

3. Growth

3.1 Past

MOWI shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -21.60%.
MOWI shows a small growth in Earnings Per Share. Measured over the last years, the EPS has been growing by 0.69% yearly.
MOWI shows a small growth in Revenue. In the last year, the Revenue has grown by 1.68%.
MOWI shows a small growth in Revenue. Measured over the last years, the Revenue has been growing by 7.63% yearly.
EPS 1Y (TTM)-21.6%
EPS 3Y30.01%
EPS 5Y0.69%
EPS Q2Q%-12.5%
Revenue 1Y (TTM)1.68%
Revenue growth 3Y13.55%
Revenue growth 5Y7.63%
Sales Q2Q%6.26%

3.2 Future

Based on estimates for the next years, MOWI will show a quite strong growth in Earnings Per Share. The EPS will grow by 12.51% on average per year.
MOWI is expected to show a decrease in Revenue. In the coming years, the Revenue will decrease by -2.02% yearly.
EPS Next Y-10.99%
EPS Next 2Y13.08%
EPS Next 3Y12.51%
EPS Next 5YN/A
Revenue Next Year0.5%
Revenue Next 2Y4.57%
Revenue Next 3Y5.03%
Revenue Next 5Y-2.02%

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.
MOWI.OL Yearly Revenue VS EstimatesMOWI.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2B 4B 6B
MOWI.OL Yearly EPS VS EstimatesMOWI.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 0.5 1 1.5

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4

4. Valuation

4.1 Price/Earnings Ratio

With a Price/Earnings ratio of 19.04, MOWI is valued on the expensive side.
The rest of the industry has a similar Price/Earnings ratio as MOWI.
Compared to an average S&P500 Price/Earnings ratio of 28.47, MOWI is valued a bit cheaper.
MOWI is valuated correctly with a Price/Forward Earnings ratio of 12.37.
MOWI's Price/Forward Earnings ratio is in line with the industry average.
MOWI is valuated cheaply when we compare the Price/Forward Earnings ratio to 92.74, which is the current average of the S&P500 Index.
Industry RankSector Rank
PE 19.04
Fwd PE 12.37
MOWI.OL Price Earnings VS Forward Price EarningsMOWI.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 20 40 60 80

4.2 Price Multiples

MOWI's Enterprise Value to EBITDA is on the same level as the industry average.
The rest of the industry has a similar Price/Free Cash Flow ratio as MOWI.
Industry RankSector Rank
P/FCF 18.2
EV/EBITDA 10.15
MOWI.OL Per share dataMOWI.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 20 40 60 80 100

4.3 Compensation for Growth

The decent profitability rating of MOWI may justify a higher PE ratio.
A more expensive valuation may be justified as MOWI's earnings are expected to grow with 12.51% in the coming years.
PEG (NY)N/A
PEG (5Y)27.51
EPS Next 2Y13.08%
EPS Next 3Y12.51%

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3

5. Dividend

5.1 Amount

MOWI has a Yearly Dividend Yield of 2.87%.
MOWI's Dividend Yield is comparable with the industry average which is at 3.24.
MOWI's Dividend Yield is a higher than the S&P500 average which is at 2.28.
Industry RankSector Rank
Dividend Yield 2.87%

5.2 History

The dividend of MOWI decreases each year by -9.84%.
Dividend Growth(5Y)-9.84%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

MOWI pays out 68.18% of its income as dividend. This is not a sustainable payout ratio.
DP68.18%
EPS Next 2Y13.08%
EPS Next 3Y12.51%
MOWI.OL Yearly Income VS Free CF VS DividendMOWI.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2015 2016 2017 2018 2019 2020 2021 2022 2023 200M 400M 600M
MOWI.OL Dividend Payout.MOWI.OL Dividend Payout, showing the Payout Ratio.MOWI.OL Dividend Payout.PayoutRetained Earnings

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MOWI ASA

OSL:MOWI (2/5/2025, 2:58:13 PM)

218.8

-0.4 (-0.18%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)11-06 2024-11-06/bmo
Earnings (Next)02-12 2025-02-12/amc
Inst Owners60.96%
Inst Owner ChangeN/A
Ins Owners0.01%
Ins Owner ChangeN/A
Market Cap113.14B
Analysts78.95
Price Target238 (8.78%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 2.87%
Yearly Dividend0.63
Dividend Growth(5Y)-9.84%
DP68.18%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)1
Avg EPS beat(2)-2.88%
Min EPS beat(2)-12.26%
Max EPS beat(2)6.49%
EPS beat(4)2
Avg EPS beat(4)-2.22%
Min EPS beat(4)-15.39%
Max EPS beat(4)12.26%
EPS beat(8)2
Avg EPS beat(8)-4.07%
EPS beat(12)3
Avg EPS beat(12)-4.02%
EPS beat(16)4
Avg EPS beat(16)-0.82%
Revenue beat(2)0
Avg Revenue beat(2)-7.21%
Min Revenue beat(2)-7.46%
Max Revenue beat(2)-6.97%
Revenue beat(4)1
Avg Revenue beat(4)-4.36%
Min Revenue beat(4)-7.46%
Max Revenue beat(4)3.34%
Revenue beat(8)3
Avg Revenue beat(8)-3.22%
Revenue beat(12)3
Avg Revenue beat(12)-3.51%
Revenue beat(16)3
Avg Revenue beat(16)-4.43%
PT rev (1m)1.01%
PT rev (3m)4%
EPS NQ rev (1m)6.33%
EPS NQ rev (3m)-25.64%
EPS NY rev (1m)2.62%
EPS NY rev (3m)2.62%
Revenue NQ rev (1m)3.66%
Revenue NQ rev (3m)-8.32%
Revenue NY rev (1m)-1.97%
Revenue NY rev (3m)-1.97%
Valuation
Industry RankSector Rank
PE 19.04
Fwd PE 12.37
P/S 1.75
P/FCF 18.2
P/OCF 10.42
P/B 2.66
P/tB 4.93
EV/EBITDA 10.15
EPS(TTM)11.49
EY5.25%
EPS(NY)17.69
Fwd EY8.08%
FCF(TTM)12.02
FCFY5.49%
OCF(TTM)21
OCFY9.6%
SpS125.35
BVpS82.3
TBVpS44.4
PEG (NY)N/A
PEG (5Y)27.51
Profitability
Industry RankSector Rank
ROA 5.38%
ROE 11.83%
ROCE 10.9%
ROIC 6.94%
ROICexc 7.12%
ROICexgc 9.57%
OM 13.21%
PM (TTM) 7.77%
GM 47.54%
FCFM 9.59%
ROA(3y)7.86%
ROA(5y)6.75%
ROE(3y)16.75%
ROE(5y)14.21%
ROIC(3y)7.96%
ROIC(5y)7.43%
ROICexc(3y)8.22%
ROICexc(5y)7.65%
ROICexgc(3y)11.04%
ROICexgc(5y)10.21%
ROCE(3y)12.5%
ROCE(5y)11.67%
ROICexcg growth 3Y27.74%
ROICexcg growth 5Y-4.03%
ROICexc growth 3Y27.72%
ROICexc growth 5Y-3.76%
OM growth 3Y23.77%
OM growth 5Y-2.57%
PM growth 3Y37.21%
PM growth 5Y-11.5%
GM growth 3Y1.84%
GM growth 5Y-0.85%
F-Score4
Asset Turnover0.69
Health
Industry RankSector Rank
Debt/Equity 0.58
Debt/FCF 4.68
Debt/EBITDA 1.78
Cap/Depr 87.91%
Cap/Sales 7.17%
Interest Coverage 5.19
Cash Conversion 78.45%
Profit Quality 123.46%
Current Ratio 2.76
Quick Ratio 2.3
Altman-Z N/A
F-Score4
WACC7.13%
ROIC/WACC0.97
Cap/Depr(3y)74.16%
Cap/Depr(5y)82.3%
Cap/Sales(3y)6.6%
Cap/Sales(5y)7.06%
Profit Quality(3y)98.11%
Profit Quality(5y)110.21%
High Growth Momentum
Growth
EPS 1Y (TTM)-21.6%
EPS 3Y30.01%
EPS 5Y0.69%
EPS Q2Q%-12.5%
EPS Next Y-10.99%
EPS Next 2Y13.08%
EPS Next 3Y12.51%
EPS Next 5YN/A
Revenue 1Y (TTM)1.68%
Revenue growth 3Y13.55%
Revenue growth 5Y7.63%
Sales Q2Q%6.26%
Revenue Next Year0.5%
Revenue Next 2Y4.57%
Revenue Next 3Y5.03%
Revenue Next 5Y-2.02%
EBIT growth 1Y-27.46%
EBIT growth 3Y40.54%
EBIT growth 5Y4.86%
EBIT Next Year15.13%
EBIT Next 3Y17.04%
EBIT Next 5YN/A
FCF growth 1Y22.38%
FCF growth 3Y47.18%
FCF growth 5Y16.75%
OCF growth 1Y24.89%
OCF growth 3Y25.44%
OCF growth 5Y9.83%