SalMar SALM.OL
SalMar is one of the world's largest salmon producers, with a vertically integrated business model spanning from sea farming to processing and sales, with operations primarily in Norway. SalMar shows exceptional growth (profits +80%) and acceptable financial health, although its net debt/EBITDA of 3.32 and forward P/E of 16.02 suggest the market already discounts part of the good news.
Detailed metrics
Market and fundamental data as of the analysis date.
Full AI report
Generated automatically from the metrics, the macro context and the company's news.
SalMar is one of the world's largest salmon producers, with a vertically integrated business model spanning from sea farming to processing and sales, with operations primarily in Norway. SalMar shows exceptional growth (profits +80%) and acceptable financial health, although its net debt/EBITDA of 3.32 and forward P/E of 16.02 suggest the market already discounts part of the good news.
Score by category
| Category | Score |
|---|---|
| Financial health | 5.0 |
| Quality / Moat | 5.4 |
| Valuation | 4.5 |
| Growth | 9.1 |
| Dividend | 6.0 |
| Momentum | 5.5 |
| Risk & Context | 7.5 |
OVERALL SCORE: 5.8/10
Context and risks
Regulatory and biological risk inherent to Norwegian aquaculture: potential changes in concession licenses and impact of sea lice. The acquisition of Måsøval adds integration risk and concentration in the local market.
News considered in the analysis
- SalMar ASA (SALRY) (Q2 2026) Earnings Call Highlights: Record Biological Performance Drives ... — Rendimiento biológico récord confirma la fortaleza operativa y respalda el crecimiento de beneficios del 80%.
- SalMar takes majority stake in local peer Måsøval — La adquisición de una participación mayoritaria en Måsøval refuerza la posición de SalMar en el mercado noruego y amplía su capacidad de producción.
- A Look At SalMar (OB:SALM) Valuation After Recent Share Price Slide And Mixed Fair Value Signals — Análisis de valoración genérico sin información nueva.
- Assessing SalMar (OB:SALM) Valuation After Mixed 2025 Results And Higher 2026 Harvest Outlook — Perspectiva de mayor cosecha para 2026 apoya el crecimiento futuro de ingresos.
- SalMar ASA (SALRF) Q4 2025 Earnings Call Highlights: Record Biomass and Strategic Acquisitions ... — Resultados del cuarto trimestre de 2025 ya descontados por el mercado.
Verdict: Hold; operational strength and strategic acquisitions support growth, but debt and valuation limit upside potential in the short term.
Main risk: The main risk is the high net debt (ND/EBITDA 3.32) and dependence on biology and regulatory licenses in Norway, which can affect production and costs.
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