SALMAR ASA (SALM.OL) Stock Fundamental Analysis
Europe - Euronext Oslo - OSL:SALM - NO0010310956 - Common Stock
571 NOK
-8.5 (-1.47%)
Taking everything into account, SALM scores 4 out of 10 in our fundamental rating. SALM was compared to 64 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 is valied quite expensively at the moment, while it does show a decent growth rate.
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.
- SALM had a positive operating cash flow in each of the past 5 years.
1.2 Ratios
- SALM has a Return On Assets (2.04%) which is in line with its industry peers.
- SALM has a Return On Equity (7.00%) which is in line with its industry peers.
- Looking at the Return On Invested Capital, with a value of 2.74%, SALM is doing worse than 68.75% of the companies in the same 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 7.95%.
- 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 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
- SALM's Profit Margin of 4.36% is in line compared to the rest of the industry. SALM outperforms 57.81% of its industry peers.
- In the last couple of years the Profit Margin of SALM has declined.
- SALM has a Operating Margin of 8.93%. This is in the better half of the industry: SALM outperforms 60.94% of its industry peers.
- SALM's Operating Margin has declined in the last couple of years.
- SALM's Gross Margin of 46.22% is fine compared to the rest of the industry. SALM outperforms 70.31% of its industry peers.
- SALM's Gross Margin has been stable in the last couple of years.
| 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.
- The number of shares outstanding for SALM has been increased compared to 5 years ago.
- Compared to 1 year ago, SALM has a worse debt to assets ratio.
2.2 Solvency
- An Altman-Z score of 2.07 indicates that SALM is not a great score, but indicates only limited risk for bankruptcy at the moment.
- SALM has a Altman-Z score (2.07) which 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.
- The Debt to FCF ratio of SALM (25.07) is worse than 60.94% of its industry peers.
- SALM has a Debt/Equity ratio of 1.31. This is a high value indicating a heavy dependency on external financing.
- Looking at the Debt to Equity ratio, with a value of 1.31, SALM is doing worse than 81.25% of the companies in the same industry.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.31 | ||
| Debt/FCF | 25.07 | ||
| Altman-Z | 2.07 |
ROIC/WACC0.36
WACC7.68%
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 84.38% of its industry peers.
- A Quick Ratio of 0.37 indicates that SALM may have some problems paying its short term obligations.
- SALM's Quick ratio of 0.37 is on the low side compared to the rest of the industry. SALM is outperformed by 85.94% 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%.
- The Earnings Per Share has been decreasing by -0.01% on average over the past years.
- SALM shows a small growth in Revenue. In the last year, the Revenue has grown by 1.97%.
- 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 24.89% yearly.
- SALM is expected to show quite a strong growth in Revenue. In the coming years, the Revenue will grow by 9.49% yearly.
EPS Next Y-38.04%
EPS Next 2Y26.85%
EPS Next 3Y24.89%
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.
- The Revenue growth rate is decreasing: in the next years the growth will be less than in the last years.
4. Valuation
4.1 Price/Earnings Ratio
- SALM is valuated quite expensively with a Price/Earnings ratio of 44.20.
- Compared to the rest of the industry, the Price/Earnings ratio of SALM indicates a slightly more expensive valuation: SALM is more expensive than 67.19% of the companies listed in the same industry.
- When comparing the Price/Earnings ratio of SALM to the average of the S&P500 Index (27.38), we can say SALM is valued expensively.
- With a Price/Forward Earnings ratio of 15.91, 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 (24.29), we can say SALM is valued slightly cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.2 | ||
| Fwd PE | 15.91 |
4.2 Price Multiples
- 75.00% 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 is on the same level as the industry average.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 80.53 | ||
| EV/EBITDA | 23.2 |
4.3 Compensation for Growth
- A more expensive valuation may be justified as SALM's earnings are expected to grow with 24.89% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y26.85%
EPS Next 3Y24.89%
5. Dividend
5.1 Amount
- SALM has a Yearly Dividend Yield of 3.80%. Purely for dividend investing, there may be better candidates out there.
- Compared to an average industry Dividend Yield of 2.42, SALM pays a bit more dividend than its industry peers.
- SALM's Dividend Yield is rather good when compared to the S&P500 average which is at 1.85.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
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 2Y26.85%
EPS Next 3Y24.89%
OSL:SALM (1/16/2026, 7:00:00 PM)
571
-8.5 (-1.47%)
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 Cap77.31B
Revenue(TTM)27.09B
Net Income(TTM)1.18B
Analysts75.29
Price Target620.81 (8.72%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.8% |
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)1.06%
PT rev (3m)9.33%
EPS NQ rev (1m)0%
EPS NQ rev (3m)0.33%
EPS NY rev (1m)-3.02%
EPS NY rev (3m)-14.19%
Revenue NQ rev (1m)0%
Revenue NQ rev (3m)-4.36%
Revenue NY rev (1m)-0.74%
Revenue NY rev (3m)-2.33%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 44.2 | ||
| Fwd PE | 15.91 | ||
| P/S | 2.85 | ||
| P/FCF | 80.53 | ||
| P/OCF | 25.55 | ||
| P/B | 4.59 | ||
| P/tB | N/A | ||
| EV/EBITDA | 23.2 |
EPS(TTM)12.92
EY2.26%
EPS(NY)35.9
Fwd EY6.29%
FCF(TTM)7.09
FCFY1.24%
OCF(TTM)22.35
OCFY3.91%
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 | 2.07 |
F-Score4
WACC7.68%
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-38.04%
EPS Next 2Y26.85%
EPS Next 3Y24.89%
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 -38.04% 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%.