SALMAR ASA (SALM.OL) Stock Fundamental Analysis
Europe • Euronext Oslo • OSL:SALM • NO0010310956
597 NOK
+6.25 (+1.06%)
Last: Feb 6, 2026, 07:00 PM
Taking everything into account, SALM scores 4 out of 10 in our fundamental rating. SALM was compared to 67 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 quite expensive at the moment. 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.
- In the past 5 years SALM has always 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.
- With a Return On Invested Capital value of 2.74%, SALM is not doing good in the industry: 68.66% of the companies in the same industry are doing better.
- 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 7.31%.
- 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 has a Profit Margin (4.36%) which is comparable to the rest of the industry.
- In the last couple of years the Profit Margin of SALM has declined.
- With a decent Operating Margin value of 8.93%, SALM is doing good in the industry, outperforming 64.18% of the companies in the same industry.
- SALM's Operating Margin has declined in the last couple of years.
- SALM has a Gross Margin of 46.22%. This is in the better half of the industry: SALM outperforms 71.64% 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
- The Return on Invested Capital (ROIC) is below the Cost of Capital (WACC), so SALM is destroying value.
- Compared to 1 year ago, SALM has about the same amount of shares outstanding.
- Compared to 5 years ago, SALM has more shares outstanding
- The debt/assets ratio for SALM is higher compared to a year ago.
2.2 Solvency
- An Altman-Z score of 2.11 indicates that SALM is not a great score, but indicates only limited risk for bankruptcy at the moment.
- SALM's Altman-Z score of 2.11 is in line compared to the rest of the industry. SALM outperforms 47.76% of its industry peers.
- SALM has a debt to FCF ratio of 25.07. This is a negative value and a sign of low solvency as SALM would need 25.07 years to pay back of all of its debts.
- SALM's Debt to FCF ratio of 25.07 is on the low side compared to the rest of the industry. SALM is outperformed by 61.19% 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.
- SALM has a worse Debt to Equity ratio (1.31) than 80.60% of its industry peers.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Debt/Equity | 1.31 | ||
| Debt/FCF | 25.07 | ||
| Altman-Z | 2.11 |
ROIC/WACC0.36
WACC7.71%
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 better Current ratio (2.18) than 79.10% of its industry peers.
- 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.
- The Quick ratio of SALM (0.37) is worse than 85.07% 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%.
- 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%.
- SALM shows quite a strong growth in Revenue. Measured over the last years, the Revenue has been growing by 16.65% yearly.
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
- The Revenue is expected to grow by 9.49% on average over the next years. This is quite good.
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.
- 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
- A Price/Earnings ratio of 46.21 indicates a quite expensive valuation of SALM.
- Compared to the rest of the industry, the Price/Earnings ratio of SALM indicates a slightly more expensive valuation: SALM is more expensive than 65.67% of the companies listed in the same industry.
- SALM is valuated expensively when we compare the Price/Earnings ratio to 27.92, which is the current average of the S&P500 Index.
- A Price/Forward Earnings ratio of 16.20 indicates a correct valuation of SALM.
- SALM's Price/Forward Earnings ratio is in line with the industry average.
- Compared to an average S&P500 Price/Forward Earnings ratio of 27.78, SALM is valued a bit cheaper.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.21 | ||
| Fwd PE | 16.2 |
4.2 Price Multiples
- Compared to the rest of the industry, the Enterprise Value to EBITDA ratio of SALM indicates a slightly more expensive valuation: SALM is more expensive than 74.63% of the companies listed in the same industry.
- Based on the Price/Free Cash Flow ratio, SALM is valued a bit more expensive than the industry average as 61.19% of the companies are valued more cheaply.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| P/FCF | 84.2 | ||
| EV/EBITDA | 23.81 |
4.3 Compensation for Growth
- A more expensive valuation may be justified as SALM's earnings are expected to grow with 25.69% in the coming years.
PEG (NY)N/A
PEG (5Y)N/A
EPS Next 2Y28.52%
EPS Next 3Y25.69%
5. Dividend
5.1 Amount
- With a Yearly Dividend Yield of 3.70%, SALM has a reasonable but not impressive dividend return.
- Compared to an average industry Dividend Yield of 3.08, SALM pays a bit more dividend than its industry peers.
- Compared to an average S&P500 Dividend Yield of 1.83, SALM pays a better dividend.
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.7% |
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.
- SALM's earnings are growing more than its dividend. This makes the dividend growth sustainable.
DP429.58%
EPS Next 2Y28.52%
EPS Next 3Y25.69%
OSL:SALM (2/6/2026, 7:00:00 PM)
597
+6.25 (+1.06%)
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 Cap80.83B
Revenue(TTM)27.09B
Net Income(TTM)1.18B
Analysts75.29
Price Target616.17 (3.21%)
Short Float %N/A
Short RatioN/A
Dividend
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| Dividend Yield | 3.7% |
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)0%
PT rev (3m)4.99%
EPS NQ rev (1m)6.11%
EPS NQ rev (3m)6.47%
EPS NY rev (1m)-1.86%
EPS NY rev (3m)-15.79%
Revenue NQ rev (1m)-0.89%
Revenue NQ rev (3m)-5.74%
Revenue NY rev (1m)0%
Revenue NY rev (3m)-2.33%
Valuation
| Industry Rank | Sector Rank | ||
|---|---|---|---|
| PE | 46.21 | ||
| Fwd PE | 16.2 | ||
| P/S | 2.98 | ||
| P/FCF | 84.2 | ||
| P/OCF | 26.71 | ||
| P/B | 4.8 | ||
| P/tB | N/A | ||
| EV/EBITDA | 23.81 |
EPS(TTM)12.92
EY2.16%
EPS(NY)36.85
Fwd EY6.17%
FCF(TTM)7.09
FCFY1.19%
OCF(TTM)22.35
OCFY3.74%
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 | 2.11 |
F-Score4
WACC7.71%
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 6 / 10 and the dividend payout ratio is 429.58%.