(LSG) Lerøy Seafood ASA - OL
Sector: Consumer Defensive | Industry: Packaged Foods | Exchange: OL (Norway) | Market Cap: 24.808m NOK | Total Return: -1.3% in 12m
Avg Turnover: 31.9M
Qual. Beats: 0
Rev. Trend: 96.1%
Qual. Beats: 0
Warnings
Below Avwap Earnings
Tailwinds
No distinct edge detected
Lerøy Seafood Group ASA is a vertically integrated seafood producer headquartered in Bergen, Norway. The company manages a comprehensive value chain across three primary segments: Wildcatch, Farming, and Value-Added Processing (VAP). Its portfolio includes Atlantic salmon, trout, and various whitefish species, which are processed into fresh, frozen, and ready-to-eat formats for global distribution.
The business model relies on vertical integration to control product quality and traceability from harvest to the final consumer. This structure is common among major Norwegian aquaculture firms to mitigate price volatility in the raw fish commodity market. Lerøy distributes its products under several proprietary brands, including Norway Seafoods and Aurora Salmon, targeting retail, food service, and industrial sectors across Europe, Asia, and North America.
As a major player in the Norwegian aquaculture sector, Lerøy operates within a highly regulated environment governed by production licenses and environmental standards. The industry is characterized by high barriers to entry due to the limited availability of coastal sites suitable for salmon farming and strict government quotas on wild-catch volumes.
- Biological improvements in salmon farming reduce production costs and mortality
- Resource rent tax on aquaculture impacts net earnings and dividends
- Global salmon price volatility dictates farming segment profit margins
- Value-added processing efficiency offsets raw material cost inflation in Europe
| Net Income: 1.04b TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.06 > 0.02 and ΔFCF/TA 2.66 > 1.0 |
| NWC/Revenue: 23.67% < 20% (prev 31.47%; Δ -7.80% < -1%) |
| CFO/TA 0.27 > 3% & CFO 10.9b > Net Income 1.04b |
| Net Debt (373.3m) to EBITDA (4.27b): 0.09 < 3 |
| Current Ratio: 1.87 > 1.5 & < 3 |
| Outstanding Shares: last quarter (595.5m) vs 12m ago 0.0% < -2% |
| Gross Margin: 41.92% > 18% (prev 46.56%; Δ -4.64% > 0.5%) |
| Asset Turnover: 86.12% > 50% (prev 80.21%; Δ 5.90% > 0%) |
| Interest Coverage Ratio: 3.70 > 6 (EBIT TTM 2.33b / Interest Expense TTM 629.0m) |
| A: 0.20 (Total Current Assets 17.5b - Total Current Liabilities 9.34b) / Total Assets 40.3b |
| B: 0.35 (Retained Earnings 14.2b / Total Assets 40.3b) |
| C: 0.06 (EBIT TTM 2.33b / Avg Total Assets 40.1b) |
| D: 0.94 (Book Value of Equity 19.0b / Total Liabilities 20.1b) |
| Altman-Z'' = 3.86 = AA |
| DSRI: 1.00 (Receivables 3.00b/2.77b, Revenue 34.5b/32.0b) |
| GMI: 1.11 (GM 46.56% / 41.92%) |
| AQI: 0.96 (AQ_t 0.25 / AQ_t-1 0.26) |
| SGI: 1.08 (Revenue 34.5b / 32.0b) |
| TATA: -0.24 (NI 1.04b - CFO 10.9b) / TA 40.3b) |
| Beneish M = -2.91 (Cap -4..+1) = A |
As of June 20, 2026, the stock is trading at NOK 41.54 with a total of 422,629 shares traded.
Over the past week, the price has changed by +2.06%,
over one month by -3.71%,
over three months by -13.05% and
over the past year by -1.33%.
Lerøy Seafood ASA has no consensus analysts rating.
P/E Trailing = 24.0809
P/E Forward = 11.6144
P/S = 0.7191
P/B = 1.3139
P/EG = 1.7524
Revenue TTM = 34.5b NOK
EBIT TTM = 2.33b NOK
EBITDA TTM = 4.27b NOK
Long Term Debt = 4.72b NOK (from longTermDebt, last quarter)
Short Term Debt = 4.66b NOK (from shortLongTermDebt, last quarter)
Debt = 3.20b NOK (Leases only: 3.20b)
Net Debt = 373.3m NOK (calculated: Debt 3.20b - CCE 2.82b)
Enterprise Value = 25.2b NOK (24.8b + Debt 3.20b - CCE 2.82b)
Interest Coverage Ratio = 3.70 (Ebit TTM 2.33b / Interest Expense TTM 629.0m)
EV/FCF = 11.07x (Enterprise Value 25.2b / FCF TTM 2.27b)
FCF Yield = 9.03% (FCF TTM 2.27b / Enterprise Value 25.2b)
FCF Margin = 6.59% (FCF TTM 2.27b / Revenue TTM 34.5b)
Net Margin = 3.01% (Net Income TTM 1.04b / Revenue TTM 34.5b)
Gross Margin = 41.92% ((Revenue TTM 34.5b - Cost of Revenue TTM 20.0b) / Revenue TTM)
Gross Margin QoQ = 46.71% (prev 45.60%)
Tobins Q-Ratio = 0.63 (Enterprise Value 25.2b / Total Assets 40.3b)
Interest Expense / Debt = 19.68% (Interest Expense 629.0m / Debt 3.20b)
Taxrate = 29.20% (448.7m / 1.54b)
NOPAT = 1.65b (EBIT 2.33b * (1 - 29.20%))
Current Ratio = 1.87 (Total Current Assets 17.5b / Total Current Liabilities 9.34b)
Debt / Equity = 0.17 (Debt 3.20b / totalStockholderEquity, last quarter 19.0b)
Debt / EBITDA = 0.09 (Net Debt 373.3m / EBITDA 4.27b)
Debt / FCF = 0.16 (Net Debt 373.3m / FCF TTM 2.27b)
Total Stockholder Equity = 18.7b (last 4 quarters mean from totalStockholderEquity)
RoA = 2.59% (Net Income 1.04b / Total Assets 40.3b)
RoE = 5.56% (Net Income TTM 1.04b / Total Stockholder Equity 18.7b)
RoCE = 9.95% (EBIT 2.33b / Capital Employed (Equity 18.7b + L.T.Debt 4.72b))
RoIC = 5.28% (NOPAT 1.65b / Invested Capital 31.2b)
WACC = 8.38% (E(24.8b)/V(28.0b) * Re(7.67%) + D(3.20b)/V(28.0b) * Rd(19.68%) * (1-Tc(0.29)))
Discount Rate = 7.67% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: 3.62 | Cagr: 113.9%
[DCF] Terminal Value 77.86% ; FCFF base≈1.84b ; Y1≈2.11b ; Y5≈3.11b
[DCF] Fair Price = 77.37 (EV 46.4b - Net Debt 373.3m = Equity 46.1b / Shares 595.5m; r=8.38% [WACC]; 5y FCF grow 15.0% → 2.50% )
EPS Correlation: N/A | EPS CAGR: N/A | SUE: -0.49 | # QB: 0
Revenue Correlation: 96.07 | Revenue CAGR: 6.11% | SUE: -0.06 | # QB: 0
EPS current Quarter (2026-06-30): EPS=0.77 | Chg30d=-21.64% | Revisions=-20% | Analysts=4
EPS next Quarter (2026-09-30): EPS=0.66 | Chg30d=-10.82% | Revisions=N/A | Analysts=4
EPS current Year (2026-12-31): EPS=3.58 | Chg30d=-2.86% | Revisions=+0% | GrowthEPS=+68.8% | GrowthRev=+3.3%
EPS next Year (2027-12-31): EPS=4.69 | Chg30d=+0.53% | Revisions=+11% | GrowthEPS=+31.1% | GrowthRev=+6.4%
[Analyst] Revisions Ratio: -20%