Company Valuation: Bakkafrost

Data adjusted to current consolidation scope
Fiscal Period: December 2021 2022 2023 2024 2025 2026 2027 2028
Market Cap 1 25,696 25,708 20,946 23,735 19,290 18,034 - -
Change - 0.05% -18.52% 13.32% -18.73% -6.51% - -
Enterprise Value (EV) 1 27,822 28,372 24,479 26,735 23,187 22,816 22,132 21,933
Change - 1.98% -13.72% 9.22% -13.27% -1.6% -3% -0.9%
P/E 26.7x 19.1x 21.9x 36.8x 37x 28x 13.3x 10.7x
PBR 2.75x 2.47x 1.93x 2.13x 1.75x 1.57x 1.45x 1.32x
PEG - 0.5x -0.8x -1.1x -2x 1.2x 0x 0.4x
Capitalization / Revenue 4.63x 3.61x 2.93x 3.17x 2.75x 2.25x 1.83x 1.66x
EV / Revenue 5.01x 3.98x 3.43x 3.57x 3.31x 2.85x 2.24x 2.01x
EV / EBITDA 20.6x 12.7x 11.2x 11.9x 13.9x 8.87x 6.83x 5.86x
EV / EBIT 33.9x 16.6x 15.9x 17.3x 26.1x 13.9x 9.7x 7.88x
EV / FCF 2,259x -538x -1,159x 19.9x -410x 30.8x 18.9x 14.5x
FCF Yield 0.04% -0.19% -0.09% 5.01% -0.24% 3.25% 5.3% 6.87%
Dividend per Share 2 5.14 10 8.7 8.44 3.45 7.975 12 13.86
Rate of return 1.18% 2.3% 2.46% 2.11% 1.06% 2.62% 3.94% 4.55%
EPS 2 16.32 22.75 16.15 10.88 8.83 10.89 22.92 28.4
Distribution rate 31.5% 44% 53.9% 77.6% 39.1% 73.3% 52.3% 48.8%
Net sales 1 5,554 7,130 7,141 7,480 7,007 8,009 9,860 10,895
EBITDA 1 1,352 2,243 2,181 2,254 1,673 2,572 3,239 3,742
EBIT 1 821.2 1,705 1,544 1,550 888 1,641 2,283 2,785
Net income 1 964.1 1,345 955.6 656.6 530.2 641.8 1,345 1,676
Net Debt 1 2,126 2,664 3,533 3,000 3,897 4,782 4,099 3,900
Reference price 2 434.98 435.17 353.78 400.56 326.74 304.50 304.50 304.50
Nbr of stocks (in thousands) 59,074 59,075 59,206 59,253 59,038 59,223 - -
Announcement Date 22/02/22 21/02/23 20/02/24 17/02/25 09/02/26 - - -
1DKK in Million2DKK
Estimates

P/E, Detailed evolution



P/E (Y) EV / Sales (Y) EV / EBITDA (Y) Dividend Yield (Y) Capi.($)
28.31x2.88x8.96x2.59% 2.83B
24.67x1.3x9.68x1.58% 549M
-35.22x2.68x13.35x3.97% 498M
14.85x0.96x5.94x3.55% 397M
-22.29x16.53x224.55x - 372M
Average 2.07x 4.87x 52.50x 2.92% 929.31M
Weighted average by Cap. 15.87x 3.60x 26.53x 2.71%

Y-o-Y evolution of P/E

Historical PBR trend

Evolution Enterprise Value / Sales

Change in Enterprise Value/EBITDA



Year-on-year evolution of the Yield