SALMAR ASA (SALM.OL) Stock Fundamental Analysis

OSL:SALM • NO0010310956

583.5 NOK
-2.5 (-0.43%)
Last: Feb 16, 2026, 04:19 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

Overall SALM gets a fundamental rating of 4 out of 10. We evaluated SALM against 63 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 valied quite expensively at the moment, while it does show a decent growth rate.


Dividend Valuation Growth Profitability Health

5

1. Profitability

1.1 Basic Checks

  • SALM had positive earnings in the past year.
  • SALM had a positive operating cash flow in the past year.
  • 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.
SALM.OL Yearly Net Income VS EBIT VS OCF VS FCFSALM.OL Yearly Net Income VS EBIT VS OCF VS FCFYearly Net Income VS EBIT VS OCF VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B 8B

1.2 Ratios

  • SALM's Return On Assets of 2.04% is in line compared to the rest of the industry. SALM outperforms 42.86% of its industry peers.
  • SALM has a Return On Equity (7.00%) which is comparable to the rest of the industry.
  • 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 68.25% of its industry peers.
  • The Average Return On Invested Capital over the past 3 years for SALM is in line with the industry average of 7.30%.
  • The 3 year average ROIC (7.18%) for SALM is well above the current ROIC(2.74%). The reason for the recent decline needs to be investigated.
Industry RankSector 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%
SALM.OL Yearly ROA, ROE, ROICSALM.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30

1.3 Margins

  • SALM has a Profit Margin (4.36%) which is in line with its industry peers.
  • In the last couple of years the Profit Margin of SALM has declined.
  • SALM has a better Operating Margin (8.93%) than 63.49% of its industry peers.
  • SALM's Operating Margin has declined in the last couple of years.
  • With a decent Gross Margin value of 46.22%, SALM is doing good in the industry, outperforming 71.43% of the companies in the same industry.
  • In the last couple of years the Gross Margin of SALM has remained more or less at the same level.
Industry RankSector 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%
SALM.OL Yearly Profit, Operating, Gross MarginsSALM.OL Yearly Profit, Operating, Gross MarginsYearly Profit, Operating, Gross Margins 2016 2017 2018 2019 2020 2021 2022 2023 2024 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

2

2. Health

2.1 Basic Checks

  • SALM has a Return on Invested Capital (ROIC), which is below the Cost of Capital (WACC), which means it 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.
SALM.OL Yearly Shares OutstandingSALM.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 20M 40M 60M 80M 100M
SALM.OL Yearly Total Debt VS Total AssetsSALM.OL Yearly Total Debt VS Total AssetsYearly Total Debt VS Total Assets 2016 2017 2018 2019 2020 2021 2022 2023 2024 20B 40B 60B

2.2 Solvency

  • SALM has an Altman-Z score of 2.11. 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.
  • The Altman-Z score of SALM (2.11) is comparable to the rest of the industry.
  • 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.
  • Looking at the Debt to FCF ratio, with a value of 25.07, SALM is doing worse than 60.32% of the companies in the same industry.
  • SALM has a Debt/Equity ratio of 1.31. This is a high value indicating a heavy dependency on external financing.
  • With a Debt to Equity ratio value of 1.31, SALM is not doing good in the industry: 84.13% of the companies in the same industry are doing better.
Industry RankSector Rank
Debt/Equity 1.31
Debt/FCF 25.07
Altman-Z 2.11
ROIC/WACC0.36
WACC7.7%
SALM.OL Yearly LT Debt VS Equity VS FCFSALM.OL Yearly LT Debt VS Equity VS FCFYearly LT Debt VS Equity VS FCF 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 5B 10B 15B

2.3 Liquidity

  • SALM has a Current Ratio of 2.18. This indicates that SALM is financially healthy and has no problem in meeting its short term obligations.
  • Looking at the Current ratio, with a value of 2.18, SALM is in the better half of the industry, outperforming 79.37% of the companies in the same industry.
  • 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.
  • Looking at the Quick ratio, with a value of 0.37, SALM is doing worse than 85.71% of the companies in the same industry.
Industry RankSector Rank
Current Ratio 2.18
Quick Ratio 0.37
SALM.OL Yearly Current Assets VS Current LiabilitesSALM.OL Yearly Current Assets VS Current LiabilitesYearly Current Assets VS Current Liabilites 2016 2017 2018 2019 2020 2021 2022 2023 2024 5B 10B 15B 20B 25B

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WACCDebt/EquityHow to determine the health of a companyAltman-Z scoreShow peers with great health

5

3. Growth

3.1 Past

  • The earnings per share for SALM have decreased strongly by -37.35% in the last year.
  • SALM shows a decrease in Earnings Per Share. Measured over the last years, the EPS has been decreasing by -0.01% yearly.
  • SALM shows a small growth in Revenue. In the last year, the Revenue has grown by 1.97%.
  • 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)-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

  • The Earnings Per Share is expected to grow by 25.69% on average over the next years. This is a very strong growth
  • 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

  • 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.
  • 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.
SALM.OL Yearly Revenue VS EstimatesSALM.OL Yearly Revenue VS EstimatesYearly Revenue VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 2029 2030 2031 2032 10B 20B 30B 40B
SALM.OL Yearly EPS VS EstimatesSALM.OL Yearly EPS VS EstimatesYearly EPS VS Estimates 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 2026 2027 10 20 30 40

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2

4. Valuation

4.1 Price/Earnings Ratio

  • SALM is valuated quite expensively with a Price/Earnings ratio of 45.16.
  • Based on the Price/Earnings ratio, SALM is valued a bit more expensive than the industry average as 68.25% of the companies are valued more cheaply.
  • Compared to an average S&P500 Price/Earnings ratio of 27.19, SALM is valued quite expensively.
  • Based on the Price/Forward Earnings ratio of 15.83, the valuation of SALM can be described as correct.
  • SALM's Price/Forward Earnings is on the same level as the industry average.
  • Compared to an average S&P500 Price/Forward Earnings ratio of 28.06, SALM is valued a bit cheaper.
Industry RankSector Rank
PE 45.16
Fwd PE 15.83
SALM.OL Price Earnings VS Forward Price EarningsSALM.OL Price Earnings VS Forward Price Earnings ChartPrice Earnings - Forward Price Earnings PE FPE 10 20 30 40

4.2 Price Multiples

  • Based on the Enterprise Value to EBITDA ratio, SALM is valued a bit more expensive than the industry average as 74.60% of the companies are valued more cheaply.
  • The rest of the industry has a similar Price/Free Cash Flow ratio as SALM.
Industry RankSector Rank
P/FCF 82.42
EV/EBITDA 23.69
SALM.OL Per share dataSALM.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 100 150

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%

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Price/EarningsPrice/FCFFCF per shareEV/EBITDAPEG RATIOShow best valued peers

4

5. Dividend

5.1 Amount

  • SALM has a Yearly Dividend Yield of 1.72%. Purely for dividend investing, there may be better candidates out there.
  • SALM's Dividend Yield is comparable with the industry average which is at 2.42.
  • Compared to an average S&P500 Dividend Yield of 1.82, SALM has a dividend comparable with the average S&P500 company.
Industry RankSector Rank
Dividend Yield 1.72%

5.2 History

  • The dividend of SALM is nicely growing with an annual growth rate of 8.89%!
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.
  • The dividend of SALM is growing, but earnings are growing more, so the dividend growth is sustainable.
DP429.58%
EPS Next 2Y28.52%
EPS Next 3Y25.69%
SALM.OL Yearly Income VS Free CF VS DividendSALM.OL Yearly Income VS Free CF VS DividendYearly Income VS Free CF VS Dividend 2016 2017 2018 2019 2020 2021 2022 2023 2024 0 2B 4B 6B
SALM.OL Dividend Payout.SALM.OL Dividend Payout, showing the Payout Ratio.SALM.OL Dividend Payout.PayoutRetained Earnings

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SALMAR ASA

OSL:SALM (2/16/2026, 4:19:58 PM)

583.5

-2.5 (-0.43%)

Chartmill FA Rating
GICS SectorConsumer Staples
GICS IndustryGroupFood, Beverage & Tobacco
GICS IndustryFood Products
Earnings (Last)02-10
Earnings (Next)05-20
Inst Owners77.58%
Inst Owner ChangeN/A
Ins Owners0.06%
Ins Owner ChangeN/A
Market Cap79.12B
Revenue(TTM)27.09B
Net Income(TTM)1.18B
Analysts74.74
Price Target616.17 (5.6%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.72%
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)0
Avg EPS beat(2)-54.33%
Min EPS beat(2)-84.44%
Max EPS beat(2)-24.22%
EPS beat(4)1
Avg EPS beat(4)-33.84%
Min EPS beat(4)-84.44%
Max EPS beat(4)19.36%
EPS beat(8)1
Avg EPS beat(8)-28.77%
EPS beat(12)2
Avg EPS beat(12)-32.62%
EPS beat(16)2
Avg EPS beat(16)-30.59%
Revenue beat(2)0
Avg Revenue beat(2)-22.52%
Min Revenue beat(2)-30.08%
Max Revenue beat(2)-14.95%
Revenue beat(4)1
Avg Revenue beat(4)-11.07%
Min Revenue beat(4)-30.08%
Max Revenue beat(4)0.87%
Revenue beat(8)2
Avg Revenue beat(8)-6.93%
Revenue beat(12)5
Avg Revenue beat(12)-3.21%
Revenue beat(16)7
Avg Revenue beat(16)-2.34%
PT rev (1m)-0.75%
PT rev (3m)4.21%
EPS NQ rev (1m)-7.45%
EPS NQ rev (3m)-7.14%
EPS NY rev (1m)-1.86%
EPS NY rev (3m)-4.97%
Revenue NQ rev (1m)-25.53%
Revenue NQ rev (3m)-28.51%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-3.36%
Valuation
Industry RankSector Rank
PE 45.16
Fwd PE 15.83
P/S 2.92
P/FCF 82.42
P/OCF 26.15
P/B 4.69
P/tB N/A
EV/EBITDA 23.69
EPS(TTM)12.92
EY2.21%
EPS(NY)36.85
Fwd EY6.32%
FCF(TTM)7.08
FCFY1.21%
OCF(TTM)22.32
OCFY3.82%
SpS199.81
BVpS124.31
TBVpS-40.94
PEG (NY)N/A
PEG (5Y)N/A
Graham Number190.1
Profitability
Industry RankSector 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 RankSector 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 2.11
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 4 / 10 and the dividend payout ratio is 429.58%.