SALMAR ASA (SALM.OL) Stock Fundamental Analysis

OSL:SALM • NO0010310956

576.5 NOK
-17 (-2.86%)
Last: Feb 23, 2026, 12:28 PM
Overview Stock Chart Technical Analysis Fundamental Analysis Analyst Ratings Earnings Estimates Financials Ownership
Fundamental Rating

4

We assign a fundamental rating of 4 out of 10 to SALM. SALM was compared to 59 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 not valued too expensively and it also shows a decent growth rate.


Dividend Valuation Growth Profitability Health

4

1. Profitability

1.1 Basic Checks

  • In the past year SALM was profitable.
  • SALM had a positive operating cash flow in the past year.
  • 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.
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 2025 0 2B 4B 6B 8B

1.2 Ratios

  • SALM has a Return On Assets (1.91%) which is in line with its industry peers.
  • SALM has a Return On Equity of 6.23%. This is comparable to the rest of the industry: SALM outperforms 54.24% of its industry peers.
  • SALM has a Return On Invested Capital (4.39%) which is comparable to the rest of the industry.
  • The Average Return On Invested Capital over the past 3 years for SALM is in line with the industry average of 6.61%.
Industry RankSector Rank
ROA 1.91%
ROE 6.23%
ROIC 4.39%
ROA(3y)4.46%
ROA(5y)5.6%
ROE(3y)12.96%
ROE(5y)15.15%
ROIC(3y)8.04%
ROIC(5y)8.36%
SALM.OL Yearly ROA, ROE, ROICSALM.OL Yearly ROA, ROE, ROICYearly ROA, ROE, ROIC 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 10 20 30

1.3 Margins

  • The Profit Margin of SALM (4.03%) is comparable to the rest of the industry.
  • SALM's Profit Margin has declined in the last couple of years.
  • Looking at the Operating Margin, with a value of 11.15%, SALM is in the better half of the industry, outperforming 77.97% of the companies in the same industry.
  • In the last couple of years the Operating Margin of SALM has declined.
  • Looking at the Gross Margin, with a value of 48.45%, SALM is in the better half of the industry, outperforming 74.58% of the companies in the same industry.
  • SALM's Gross Margin has declined in the last couple of years.
Industry RankSector Rank
OM 11.15%
PM (TTM) 4.03%
GM 48.45%
OM growth 3Y-22.21%
OM growth 5Y-12.82%
PM growth 3Y-37.38%
PM growth 5Y-23.43%
GM growth 3Y-2.57%
GM growth 5Y-2.34%
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 2025 10 20 30 40 50

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ROAROEROICOperating and Profit MarginShow most profitable peers

3

2. Health

2.1 Basic Checks

  • The Return on Invested Capital (ROIC) is just above the Cost of Capital (WACC), so SALM is still creating some value.
  • Compared to 1 year ago, SALM has more shares outstanding
  • Compared to 5 years ago, SALM has more shares outstanding
  • SALM has a worse debt/assets ratio than last year.
SALM.OL Yearly Shares OutstandingSALM.OL Yearly Shares OutstandingYearly Shares Outstanding 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 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 2025 20B 40B 60B

2.2 Solvency

  • SALM has an Altman-Z score of 2.19. 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 (2.19) is comparable to the rest of the industry.
  • SALM has a debt to FCF ratio of 18.56. This is a negative value and a sign of low solvency as SALM would need 18.56 years to pay back of all of its debts.
  • SALM's Debt to FCF ratio of 18.56 is in line compared to the rest of the industry. SALM outperforms 42.37% of its industry peers.
  • A Debt/Equity ratio of 1.14 is on the high side and indicates that SALM has dependencies on debt financing.
  • Looking at the Debt to Equity ratio, with a value of 1.14, SALM is doing worse than 81.36% of the companies in the same industry.
Industry RankSector Rank
Debt/Equity 1.14
Debt/FCF 18.56
Altman-Z 2.19
ROIC/WACC0.57
WACC7.76%
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 2025 0 5B 10B 15B 20B

2.3 Liquidity

  • A Current Ratio of 2.05 indicates that SALM has no problem at all paying its short term obligations.
  • With a decent Current ratio value of 2.05, SALM is doing good in the industry, outperforming 77.97% of the companies in the same industry.
  • A Quick Ratio of 0.32 indicates that SALM may have some problems paying its short term obligations.
  • SALM has a Quick ratio of 0.32. This is amonst the worse of the industry: SALM underperforms 91.53% of its industry peers.
Industry RankSector Rank
Current Ratio 2.05
Quick Ratio 0.32
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 2025 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

  • SALM shows a strong negative growth in Earnings Per Share. In the last year the EPS decreased by -45.05%.
  • The Earnings Per Share has been decreasing by -8.46% on average over the past years.
  • Looking at the last year, SALM shows a small growth in Revenue. The Revenue has grown by 3.66% in the last year.
  • SALM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.23% yearly.
EPS 1Y (TTM)-45.05%
EPS 3Y-20.87%
EPS 5Y-8.46%
EPS Q2Q%-9.03%
Revenue 1Y (TTM)3.66%
Revenue growth 3Y10.76%
Revenue growth 5Y16.23%
Sales Q2Q%3.81%

3.2 Future

  • Based on estimates for the next years, SALM will show a very strong growth in Earnings Per Share. The EPS will grow by 90.10% on average per year.
  • The Revenue is expected to grow by 8.03% on average over the next years. This is quite good.
EPS Next Y200.56%
EPS Next 2Y90.1%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue Next Year13.52%
Revenue Next 2Y11.79%
Revenue Next 3Y10.39%
Revenue Next 5Y8.03%

3.3 Evolution

  • The EPS growth rate is accelerating: in the next years the growth will be better than in the last years.
  • The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
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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4

4. Valuation

4.1 Price/Earnings Ratio

  • SALM is valuated quite expensively with a Price/Earnings ratio of 47.02.
  • Based on the Price/Earnings ratio, SALM is valued a bit more expensive than the industry average as 67.80% of the companies are valued more cheaply.
  • The average S&P500 Price/Earnings ratio is at 26.99. SALM is valued rather expensively when compared to this.
  • SALM is valuated correctly with a Price/Forward Earnings ratio of 15.64.
  • Compared to the rest of the industry, the Price/Forward Earnings ratio of SALM is on the same level as its industry peers.
  • The average S&P500 Price/Forward Earnings ratio is at 28.02. SALM is valued slightly cheaper when compared to this.
Industry RankSector Rank
PE 47.02
Fwd PE 15.64
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

  • 72.88% of the companies in the same industry are cheaper than SALM, based on the Enterprise Value to EBITDA ratio.
  • SALM's Price/Free Cash Flow ratio is in line with the industry average.
Industry RankSector Rank
P/FCF 62.24
EV/EBITDA 20.57
SALM.OL Per share dataSALM.OL EPS, Sales, OCF, FCF, BookValue per sharePer Share Data Per Share 0 50 100 150 200

4.3 Compensation for Growth

  • The low PEG Ratio(NY), which compensates the Price/Earnings for growth, indicates a rather cheap valuation of the company.
  • SALM's earnings are expected to grow with 90.10% in the coming years. This may justify a more expensive valuation.
PEG (NY)0.23
PEG (5Y)N/A
EPS Next 2Y90.1%
EPS Next 3YN/A

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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 2.53.
  • SALM's Dividend Yield is comparable with the S&P500 average which is at 1.81.
Industry RankSector Rank
Dividend Yield 1.72%

5.2 History

  • The dividend of SALM is nicely growing with an annual growth rate of 11.36%!
Dividend Growth(5Y)11.36%
Div Incr Years0
Div Non Decr Years0

5.3 Sustainability

  • SALM pays out 273.67% of its income as dividend. This is not a sustainable payout ratio.
  • SALM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP273.67%
EPS Next 2Y90.1%
EPS Next 3YN/A
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 2025 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 (2/23/2026, 12:28:20 PM)

576.5

-17 (-2.86%)

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 Cap78.17B
Revenue(TTM)27.39B
Net Income(TTM)1.10B
Analysts74.74
Price Target616.17 (6.88%)
Short Float %N/A
Short RatioN/A
Dividend
Industry RankSector Rank
Dividend Yield 1.72%
Yearly Dividend22.63
Dividend Growth(5Y)11.36%
DP273.67%
Div Incr Years0
Div Non Decr Years0
Ex-DateN/A
Surprises & Revisions
EPS beat(2)0
Avg EPS beat(2)-34.15%
Min EPS beat(2)-47.87%
Max EPS beat(2)-20.42%
EPS beat(4)0
Avg EPS beat(4)-34.64%
Min EPS beat(4)-47.87%
Max EPS beat(4)-20.42%
EPS beat(8)1
Avg EPS beat(8)-23.01%
EPS beat(12)2
Avg EPS beat(12)-30.53%
EPS beat(16)2
Avg EPS beat(16)-28.72%
Revenue beat(2)0
Avg Revenue beat(2)-11.27%
Min Revenue beat(2)-11.42%
Max Revenue beat(2)-11.12%
Revenue beat(4)1
Avg Revenue beat(4)-12.94%
Min Revenue beat(4)-30.08%
Max Revenue beat(4)0.87%
Revenue beat(8)2
Avg Revenue beat(8)-7.13%
Revenue beat(12)4
Avg Revenue beat(12)-4.54%
Revenue beat(16)7
Avg Revenue beat(16)-2.74%
PT rev (1m)-0.75%
PT rev (3m)0.3%
EPS NQ rev (1m)-37.34%
EPS NQ rev (3m)-33.13%
EPS NY rev (1m)0%
EPS NY rev (3m)0.79%
Revenue NQ rev (1m)-10.31%
Revenue NQ rev (3m)-9.62%
Revenue NY rev (1m)-2.59%
Revenue NY rev (3m)-5.34%
Valuation
Industry RankSector Rank
PE 47.02
Fwd PE 15.64
P/S 2.85
P/FCF 62.24
P/OCF 24.5
P/B 4.41
P/tB N/A
EV/EBITDA 20.57
EPS(TTM)12.26
EY2.13%
EPS(NY)36.85
Fwd EY6.39%
FCF(TTM)9.26
FCFY1.61%
OCF(TTM)23.53
OCFY4.08%
SpS202.02
BVpS130.86
TBVpS-34.4
PEG (NY)0.23
PEG (5Y)N/A
Graham Number190
Profitability
Industry RankSector Rank
ROA 1.91%
ROE 6.23%
ROCE 6.26%
ROIC 4.39%
ROICexc 4.46%
ROICexgc 8.36%
OM 11.15%
PM (TTM) 4.03%
GM 48.45%
FCFM 4.58%
ROA(3y)4.46%
ROA(5y)5.6%
ROE(3y)12.96%
ROE(5y)15.15%
ROIC(3y)8.04%
ROIC(5y)8.36%
ROICexc(3y)8.16%
ROICexc(5y)8.61%
ROICexgc(3y)14.74%
ROICexgc(5y)15.03%
ROCE(3y)11.47%
ROCE(5y)11.93%
ROICexgc growth 3Y-14.99%
ROICexgc growth 5Y-15.69%
ROICexc growth 3Y-17.02%
ROICexc growth 5Y-17.63%
OM growth 3Y-22.21%
OM growth 5Y-12.82%
PM growth 3Y-37.38%
PM growth 5Y-23.43%
GM growth 3Y-2.57%
GM growth 5Y-2.34%
F-Score5
Asset Turnover0.47
Health
Industry RankSector Rank
Debt/Equity 1.14
Debt/FCF 18.56
Debt/EBITDA 4.05
Cap/Depr 99.03%
Cap/Sales 7.06%
Interest Coverage 2.15
Cash Conversion 63.71%
Profit Quality 113.67%
Current Ratio 2.05
Quick Ratio 0.32
Altman-Z 2.19
F-Score5
WACC7.76%
ROIC/WACC0.57
Cap/Depr(3y)135.93%
Cap/Depr(5y)184.02%
Cap/Sales(3y)8.39%
Cap/Sales(5y)10.43%
Profit Quality(3y)141.56%
Profit Quality(5y)103.07%
High Growth Momentum
Growth
EPS 1Y (TTM)-45.05%
EPS 3Y-20.87%
EPS 5Y-8.46%
EPS Q2Q%-9.03%
EPS Next Y200.56%
EPS Next 2Y90.1%
EPS Next 3YN/A
EPS Next 5YN/A
Revenue 1Y (TTM)3.66%
Revenue growth 3Y10.76%
Revenue growth 5Y16.23%
Sales Q2Q%3.81%
Revenue Next Year13.52%
Revenue Next 2Y11.79%
Revenue Next 3Y10.39%
Revenue Next 5Y8.03%
EBIT growth 1Y-41.7%
EBIT growth 3Y-13.83%
EBIT growth 5Y1.33%
EBIT Next Year175.93%
EBIT Next 3YN/A
EBIT Next 5YN/A
FCF growth 1Y-55.13%
FCF growth 3Y-16.23%
FCF growth 5YN/A
OCF growth 1Y-40.7%
OCF growth 3Y-11.42%
OCF growth 5Y0.08%

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 4 / 10 to SALMAR ASA (SALM.OL). This can be considered as Fairly Valued.


Can you provide the profitability details for SALMAR ASA?

SALMAR ASA (SALM.OL) has a profitability rating of 4 / 10.


What is the earnings growth outlook for SALMAR ASA?

The Earnings per Share (EPS) of SALMAR ASA (SALM.OL) is expected to grow by 200.56% 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 273.67%.