MOWI Stock Analysis: Mowi ASA | OL
Farm Products | OL, Norway | Market Cap: 108.622m NOK | 12M Return: -2.2% | NO0003054108 | Charts, Fundamentals & Technical Analysis
Avg Turnover: 212M
EPS Trend: -81.3%
Qual. Beats: 1
Rev. Trend: 91.4%
Qual. Beats: 0
Warnings
No concerns identified
Tailwinds
Seasonality 11.7 years of data
How good or bad each month usually is (without trend). The score below shows how much you can trust it: 0 = pure chance, >40 gets interesting and >55 is strong.
Mowi ASA is a Norway-based seafood company that produces and sells Atlantic salmon products globally, operating across an integrated value chain that includes salmon feed production, farming, primary processing, and secondary seafood processing. The companys business is organized into five segments: Feed, Farming, Markets, Consumer Products, and other activities, allowing it to control the process from feed inputs to finished retail goods such as whole fish, fillets, steaks, smoked salmon, burgers, patties, and sushi products. Listed on the Oslo Stock Exchange under the ticker MOWI, the firm is classified within the GICS Consumer Staples sector, specifically the Agricultural Products & Services sub-industry, reflecting its position in food production rather than pure fishing. Founded in 1964 and headquartered in Bergen, Norway, the company was previously known as Marine Harvest ASA before adopting its current name in December 2018.
As one of the worlds largest producers of farmed Atlantic salmon, Mowi operates in the aquaculture sector, which has become the dominant source of Atlantic salmon supply due to overfishing constraints on wild stocks. The companys vertically integrated model, spanning feed manufacturing through consumer-ready products, is a key structural feature of its business and relatively uncommon among pure-play salmon farmers, which typically specialize in only one or two stages of the value chain.
- Norwegian salmon resource rent tax pressures farming margins
- Atlantic salmon spot prices drive farming segment earnings
- Feed costs and sea lice expenses hit farming profitability
| Net Income: 637.1m TTM > 0 and > 6% of Revenue |
| FCF/TA: 0.05 > 0.02 and ΔFCF/TA -2.33 > 1.0 |
| NWC/Revenue: 50.60% < 20% (prev 43.97%; Δ 6.62% < -1%) |
| CFO/TA 0.21 > 3% & CFO 2.09b > Net Income 637.1m |
| Net Debt (295.0m) to EBITDA (1.44b): 0.20 < 3 |
| Current Ratio: 3.46 > 1.5 & < 3 |
| Outstanding Shares: last quarter (527.3m) vs 12m ago 1.97% < -2% |
| Gross Margin: 47.01% > 18% (prev 46.16%; Δ 0.85% > 0.5%) |
| Asset Turnover: 66.94% > 50% (prev 70.46%; Δ -3.51% > 0%) |
| Interest Coverage Ratio: 1.93 > 6 (EBIT TTM 970.6m / Interest Expense TTM 502.5m) |
| DSRI: 1.16 (Receivables 1.13b/911.2m, Revenue 6.12b/5.69b) |
| GMI: 0.98 (GM 46.16% / 47.01%) |
| AQI: 1.17 (AQ_t 0.28 / AQ_t-1 0.24) |
| SGI: 1.08 (Revenue 6.12b / 5.69b) |
| TATA: -0.14 (NI 637.1m - CFO 2.09b) / TA 10.2b) |
| Beneish M = -2.77 (Cap -4..+1) = A |
As of October 23, 2026, the stock is trading at NOK 215.80 with a total of 1,260,895 shares traded. Over the past week, the price has changed by +4.76%, over one month by +9.71%, over three months by +9.49% and over the past year by -2.24%.
Current recommended Stop Loss: 209.80 (which is 2.8% or 1.4 ATR below the current price).
Mowi ASA has no consensus analysts rating.
Market Cap EUR = 10.3b (109b NOK * 0.095 NOK.EUR)
P/E Trailing = 14.8952
P/E Forward = 15.4321
P/S = 17.7606
P/B = 2.2793
P/EG = 1.5004
Revenue TTM = 6.12b EUR
EBIT TTM = 970.6m EUR
EBITDA TTM = 1.44b EUR
Long Term Debt = 3.09b EUR (from longTermDebt, last quarter)
Short Term Debt = 149.9m EUR (from shortLongTermDebt, last fiscal year)
Debt = 559.2m EUR (Leases only: 559.2m)
Net Debt = 295.0m EUR (calculated: Debt 559.2m - CCE 264.2m)
Enterprise Value = 10.6b EUR (10.3b + Debt 559.2m - CCE 264.2m)
Interest Coverage Ratio = 1.93 (Ebit TTM 970.6m / Interest Expense TTM 502.5m)
EV/FCF = 21.71x (Enterprise Value 10.6b / FCF TTM 489.0m)
FCF Yield = 4.61% (FCF TTM 489.0m / Enterprise Value 10.6b)
FCF Margin = 8.00% (FCF TTM 489.0m / Revenue TTM 6.12b)
Net Margin = 10.42% (Net Income TTM 637.1m / Revenue TTM 6.12b)
Gross Margin = 47.01% ((Revenue TTM 6.12b - Cost of Revenue TTM 3.24b) / Revenue TTM)
Gross Margin QoQ = 38.95% (prev 48.26%)
Tobins Q-Ratio = 1.04 (Enterprise Value 10.6b / Total Assets 10.2b)
Interest Expense / Debt = 89.86% (Interest Expense 502.5m / Debt 559.2m)
Taxrate = 23.77% (197.4m / 830.6m)
NOPAT = 739.9m (EBIT 970.6m * (1 - 23.77%))
Current Ratio = 3.46 (Total Current Assets 4.35b / Total Current Liabilities 1.26b)
Debt / Equity = 0.13 (Debt 559.2m / totalStockholderEquity, last quarter 4.21b)
Debt / EBITDA = 0.20 (Net Debt 295.0m / EBITDA 1.44b)
Debt / FCF = 0.60 (Net Debt 295.0m / FCF TTM 489.0m)
Total Stockholder Equity = 4.19b (last 4 quarters mean from totalStockholderEquity)
RoA = 6.97% (Net Income 637.1m / Total Assets 10.2b)
RoE = 15.20% (Net Income TTM 637.1m / Total Stockholder Equity 4.19b)
RoCE = 13.33% (EBIT 970.6m / Capital Employed (Equity 4.19b + L.T.Debt 3.09b))
RoIC = 8.52% (NOPAT 739.9m / Invested Capital 8.68b)
WACC = 5.51% (E(10.3b)/V(10.9b) * Re(5.81%) + (debt cost/tax rate unavailable))
Discount Rate = 5.81% (= CAPM, Blume Beta Adj.)
Shares (quarterly) Correlation: -55.79 | Cagr: -1.83%
[DCF] Terminal Value 73.10% ; FCFF base≈523.4m ; Y1≈459.2m ; Y5≈371.2m
[DCF] Fair Price = 10.74 (EV 5.96b - Net Debt 295.0m = Equity 5.66b / Shares 527.3m; r=8.35% [WACC [floored]]; 5y FCF grow -14.97% → 2.50% )
EPS Correlation: -81.32 | EPS CAGR: -8.34% | SUE: 1.48 | # QB: 1
Revenue Correlation: 91.44 | Revenue CAGR: 3.84% | SUE: -0.00 | # QB: 0
EPS current Quarter (2026-09-30): EPS=0.27 | Chg30d=+22.96% | Revisions=+40% | Analysts=4
EPS current Year (2026-12-31): EPS=1.15 | Chg30d=-0.02% | Revisions=+29% | GrowthEPS=+25.4% | GrowthRev=+12.2%
EPS next Year (2027-12-31): EPS=1.40 | Chg30d=+1.99% | Revisions=+50% | GrowthEPS=+21.6% | GrowthRev=+7.5%
[Analyst] Revisions Ratio: +58% (up=8, down=1)