P/f Bakkafrost (BAKKA) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of P/f Bakkafrost stock NOK 327, price NOK 433, that is 24.4% below the price, quality 54 out of 100. Rating: overvalued. Calculated from audited financials with 16 of our 26 valuation models and 37 quality factors, updated daily.
69 individual criteria per stock, every one traceableSee the method →
Price vs Fair Value
White line = price, green steps = our fair value per fiscal year. As of Nov 6, 2026.
How to read this chart
60‑month range kr 382.65 – kr 721.97 · fair‑value band kr 245.41 – kr 409.03 · the kr 433.00 price screens above the kr 327.22 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). As of Nov 6, 2026.
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P/F Bakkafrost, together with its subsidiaries, engages in the production and sale of salmon products in North America, Western Europe, Eastern Europe, Asia, and internationally.
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The company operates through seven segments: Fishmeal, Fish Oil and Fish Feed; Freshwater Faroe Islands; Freshwater Scotland; Farming Faroe Islands; Farming Scotland; Services; and Sales & Other.
Its products include fresh and frozen whole salmon, fresh and frozen salmon fillets, fresh skin-packed salmon portions, frozen salmon portions and tails, frozen smoked salmon and salmon fillets, frozen salmon bits and pieces, frozen salmon off-cuts and belly flaps, frozen salmon heads, salmon backbones, and salmon skin.
The company is also involved in the production and sale of fishmeal, fish oil, and fish feed; production of eggs from breeding self-owned salmon strains; production of smolts; and on-growing of salmon.
In addition, it manages a fleet of farming service vessels; provides fish transportation, treatments, net cleaning, harvesting, freight and logistical, and heavy marine support services; converts organic waste into biogas, heating, electricity, and fertilizers; produces styrofoam boxes; and optimizes the value creation and retention from the harvested fish.
P/F Bakkafrost was founded in 1968 and is headquartered in Glyvrar, Denmark.
Stock analysis
P/f Bakkafrost (BAKKA) currently trades at kr 433.00, while our model-based Fair Value estimate is kr 327.22, 24% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 272.87 per share, and 2 of the 16 models we run sit above the kr 433.00 price.
Bear case: the Asset-Based group reads lowest at kr 94.83, and 14 of the 16 models stay below the price. Data coverage for this calculation is medium.
Scenario range: kr 245.41 (bear) to kr 409.03 (bull), the price of kr 433.00 sits above it. Bear and bull are the same models on cautious and optimistic assumptions, a range, not a price target.
Quality & growth
The Quality Score stands at 54/100 (solid quality), in the Consumer Defensive sector.
Expensive Growth: The company is growing, but growth may require heavy reinvestment or weak cash conversion.
P/f Bakkafrost reported revenue of 7.0B DKK in FY2025 versus 5.6B DKK in FY2021, a compound +6.0%/yr. Reported net income was 530M DKK in FY2025, compounding −13.9%/yr from FY2021.
Key figures
Market cap 25.7B NOK (≈ $2.7B) Mid · P/E ratio 18.4 · P/S ratio 1.39 · EPS (TTM) kr 23.58 · Dividend yield 1.2% · Net margin 7.6% · Return on equity 8.6% · Return on assets (EBIT) 7.2% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 51 out of 100 (low confidence).
What moves the price
The share trades about 16% below its 52-week high and 10% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 6% fair-value upside, at −24%, BAKKA screens richer than that median.
Fair Value models
Bearkr 245.41Fair Value kr 327.22Bullkr 409.03
Price kr 433.00 · Downside -24.4%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above starts from their evidence-weighted blend, not from a single model. In cyclical trough or peak years, after dilution or a stock split it is adjusted afterwards, so it can sit above or below the models. Based on fiscal year 2025 figures (about 10 months old). Earnings retained since then (kr 15.83 per share) are deliberately not added.Bear ⓘBear = the cautious scenario: the same model computed with conservative anchors (lower growth, margins and valuation multiples). Together with Bull it frames a plausible valuation range, not a price target.BaseBull ⓘBull = the optimistic scenario: the same model computed with favourable anchors (higher growth, margins and valuation multiples). Together with Bear it frames a plausible valuation range, not a price target. If a model's bull case is above four times its base value, the table shows that limit with a > sign (like the overall Bull above): beyond it no assumption holds.Coverage ⓘCoverage = how well-backed THIS model's estimate is for this stock (0–100): how complete and reliable its input data are, and how well the model fits the company. The final Fair Value is an evidence-weighted blend, so better-evidenced models count more. Green ≥70, amber 50–69, grey below 50.
Best data coverage
Residual Incomekr 206.55kr 212.03kr 224.9076
EPVkr 36.21kr 59.46kr 80.2672
ROIC Compounderkr 36.21kr 59.46kr 80.2671
All 16 models by family
Earnings-Based
Graham-Doddkr 85.71kr 472.52kr 655.7063
Lynch FVkr 131.64kr 188.06kr 244.4861
PEG = 1.0kr 131.64kr 188.06kr 244.4857
EPVkr 36.21kr 59.46kr 80.2672
Dividend Discount
Gordon GGMkr 116.55kr 259.63kr 448.4965
DDM Multi-Stagekr 116.55kr 210.10kr 269.7566
Multiples
P/E Multiplekr 198.52kr 264.69kr 330.8763
P/S Multiplekr 160.71kr 214.28kr 267.8558
P/B Multiplekr 489.08kr 652.11kr 815.1355
EV/EBITkr 173.44kr 262.14kr 350.8465
EV/EBITDAkr 292.83kr 421.32kr 549.8167
EV/Revenuekr 82.27kr 157.24kr 232.2152
Asset-Based
NCAV (Graham)kr 70.77kr 94.83kr 141.5454
Economic Profit
Residual Incomekr 206.55kr 212.03kr 224.9076
ROIC Compounderkr 36.21kr 59.46kr 80.2671
Growth Earnings
Growth-Adj P/Ekr 191.01kr 272.87kr 354.7467
The fair value above starts from this blend and is adjusted for a cyclical trough year.
Growth Quality ⓘGrowth is valuable only when reinvestment earns attractive returns (Aswath Damodaran): sustainable growth depends on return on capital, reinvestment and efficiency. Basis: total company revenue over the periods shown on the cards (3Y/5Y/all years), not per share, so a merger can show up as a growth jump; per-share earnings growth is in the value-creation card.44/100
The company is growing, but growth may require heavy reinvestment or weak cash conversion.
Revenue growth 1 year
−4.5%
Revenue growth 3 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
−0.6%
Revenue growth 5 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+8.5%
Start year 2020 (pandemic). Over 10 years: +9.4% a year
Revenue growth 21 years ⓘMeasures the company's TOTAL revenue from reported annual statements: compound average growth per year (CAGR) from the fiscal year 3, 5 or N years back to the most recent comparable fiscal year. Not per share: buybacks do not change this number, and a merger can appear as a growth jump. Per-share growth (which does include buybacks) is in the value-creation card.
+20.0%
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What shareholders gained per year (last 5 years) ⓘWhat the business itself delivers per year: earnings growth per share plus the dividend yield. This is what you get IF the market keeps valuing the stock the same way: it contains no assumption about the market changing its mind. Computed per share, so buybacks count and a merger does not pass as growth. For a company that pays no dividend it is pure earnings growth per share. Period: earnings growth per share as CAGR over the last 5 reported fiscal years (annual statements), plus the current dividend yield. The start value is the median of the three years around the start, so a single crisis year (a pandemic or a write-down) does not distort the rate. Basis: EBIT basis.
−3.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.7%
Dividend (yield on the price)1.2%
Pace: 5 vs 10 years ⓘTwo data points, not a trend model: earnings growth per share over the last 5 fiscal years against the last 10. Labelled "steady" when both rates are within 3 percentage points of each other, otherwise picking up or flattening. Shown only when ten years of history exist.−10.6% vs −6.0%, slowing
Profit margin 2020 to 2025 ⓘOperating margin then vs now, from reported annual statements. A falling margin after a boom year is the classic peak-earnings signal: the growth rate then leans on an inflated base.15% → 13%
News mood ⓘNews mood, the average tone of recent news (29 articles), rated against how stocks are usually covered. 🚀 Hype = unusually upbeat · 🙂 Positive = above average · 😐 Neutral = typical · 🙁 Negative = below average · 😨 Very negative = unusually downbeat. It reflects the tone of coverage, not our valuation.Neutral
Recent news coverage is roughly neutral, about typical for how stocks are covered.
AI conclusion: The integrated farming and feed model supplies a buffer against volatility, while negative free cash flow and high debt undermine overall durability.
Main risk: Regional differences in biological performance could raise mortality costs in Scotland and pressure group margins.
Bakkafrost reported strong Q3 harvests from its Faroe Islands sites with zero exceptional mortality costs, while Scotland operations recorded 42 million DKK in such costs. The integrated farming and feed model provides some buffer, yet regional differences in biological performance remain visible in the latest update. Our models see the shares as overvalued. Will the consistent Faroese results continue to dominate, or will Scottish challenges increasingly affect group profitability?
Price, fair value, quality and upside side by side.
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Peer GroupⓘHow this stock ranks against its industry: the green marker is this stock, the band is the typical 25–75% peer range, and the tick is the median.Farm Products · 291 stocks
Beats the industry median on 5/13 measures
Overall it trails its industry peers.
Valuation
Quality Score54 · Above median
Fair Value upside−24.4% · Below median
Profitability
Return on equity (12 months)8.6% · Above median
Return on assets2.8% · Above median
Net margin (12 months)12.5% · Top 25%
Operating margin (12 months)18.9% · Top 25%
Growth and dividend
Revenue growth (quarter YoY)−0.3% · Below median
Dividend yield (12 months)1.2% · Below median
Balance sheet
Debt / equity0.38× · Above median
Valuation Multiplesvs Farm Products median · lower = cheaper
For bloggers, editors and developers: paste this into your site or blog (a “Custom HTML” block in WordPress), it shows the current fair value and links back here. Free, plain HTML, and welcome. Full data streams (CSV/JSON) at /developers.
Cite: Fair Value Calculator (2026). "P/f Bakkafrost Fair Value". https://www.fairvalue-calculator.com/stock/BAKKA
Frequently asked questions
Is P/f Bakkafrost (BAKKA) overvalued or undervalued?
As of Nov 6, 2026, our model estimates a fair value of kr 327.22 versus a price of kr 433.00, about 24% lower (overvalued).
What is the fair value of BAKKA?
Our model-based fair value for P/f Bakkafrost is kr 327.22 (as of Nov 6, 2026), built from audited fundamentals. The current price: kr 433.00.
What is the quality score of BAKKA?
P/f Bakkafrost has a Quality Score of 54/100. It measures business quality (profitability, growth, cash flow, balance-sheet strength, investment discipline, share issuance). Market factors such as price momentum and volatility do not enter the number; they are shown separately in the detail view.
What is the price target for P/f Bakkafrost (BAKKA)?
Our model-based price target is the fair value of kr 327.22 (as of Nov 6, 2026) from 16 valuation models. Cautious scenario kr 245.41, optimistic scenario kr 409.03. It is a calculation from audited fundamentals, not an analyst target.
What is the P/f Bakkafrost stock forecast for 2026?
Our models put fair value at kr 327.22, about 24% lower versus a price of kr 433.00 (overvalued). Cautious scenario kr 245.41, optimistic scenario kr 409.03. The calculation is refreshed regularly with new filings.
What is the revenue of P/f Bakkafrost (BAKKA)?
P/f Bakkafrost reported trailing-twelve-month revenue of about 7.5B DKK (latest available figure, as of Nov 6, 2026).
Does P/f Bakkafrost pay a dividend?
P/f Bakkafrost currently shows a dividend yield of 1.17% relative to its recent price (as of Nov 6, 2026).
How much is the dividend of P/f Bakkafrost (BAKKA) and when is the ex-dividend date?
P/f Bakkafrost pays a dividend of kr 5.06 per share a year, a dividend yield of 1.2%. The last ex-dividend date was May 4, 2026. A dividend has been paid every year since 2021. The payout ratio is 94.4% of earnings. Our assessment: Watch coverage. The dividend isn’t fully covered by free cash flow or earnings, part of it is funded from reserves or debt. Fine for now, but worth watching: if it stays uncovered, the dividend could be cut.
What is the intrinsic value of P/f Bakkafrost (BAKKA)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For P/f Bakkafrost it is kr 327.22 per share (as of Nov 6, 2026), against a price of kr 433.00. It is the blended result of 16 valuation models in 6 families (Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings).
Is P/f Bakkafrost stock overvalued or undervalued in 2026?
As of Nov 6, 2026, BAKKA trades above its calculated fair value: price kr 433.00, fair value kr 327.22, a gap of about −24% (overvalued). The calculation is refreshed with each new quarterly report, so the verdict can change during the year.
Is fair value the same as the market price of BAKKA?
No. The price is what the market pays today (kr 433.00); the fair value is what the company's own numbers justify (kr 327.22). For P/f Bakkafrost the two are kr 105.78 per share apart. That gap is exactly why we show both numbers side by side.
How much is P/f Bakkafrost worth?
The market values P/f Bakkafrost at about 25.7B NOK (market capitalisation, as of Nov 6, 2026). Per share that is kr 433.00; our models calculate a fair value of kr 327.22 per share.
What do the bullish and bearish scenarios say about BAKKA?
Our models span a range for P/f Bakkafrost: cautious scenario kr 245.41, base kr 327.22, optimistic kr 409.03 per share (as of Nov 6, 2026, price kr 433.00). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of BAKKA?
P/f Bakkafrost trades at a price-to-earnings ratio of 18.4 (as of Nov 6, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 327.22 is built from several models across several years. Other multiples: P/B 1.7, P/S 2.4, EV/EBITDA 10.7.
How solid is the balance sheet of P/f Bakkafrost (BAKKA)?
Balance-sheet figures for P/f Bakkafrost (as of Nov 6, 2026): return on equity 8.6%, debt of 0.38 per unit of equity. They feed the Quality Score of 54/100, which measures business quality independently of the share price.
How far is BAKKA from its 52-week high?
P/f Bakkafrost trades at kr 433.00, about 16% below its 52-week high of kr 515.20 and 10% above the low of kr 395.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 327.22 is for.
Which stocks are comparable to P/f Bakkafrost?
From the same area (Consumer Defensive) we also value Muyuan Foods Group, Archer-Daniels-Midland Company, Tyson Foods, Inc, Bunge Global SA, among others. Each of them has its own fair-value calculation on this site using the same models, so the comparison is like for like.
Is P/f Bakkafrost stock attractive at the current price?
The data as of Nov 6, 2026: price kr 433.00, calculated fair value kr 327.22 (−24%), Quality Score 54/100, from 16 models. Whether that fits your horizon and risk tolerance is your call. We provide the calculation, not investment advice.
How is the fair value of BAKKA calculated?
We run P/f Bakkafrost through 16 models from 6 families: Earnings-Based, Dividend Discount, Multiples, Asset-Based, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 327.22 builds on their evidence-weighted average, with the spread shown as a cautious and an optimistic scenario.
Is it still worth investing in stocks now?
The global stock market currently sits 13.0% above its aggregate fair value. P/f Bakkafrost itself currently trades above fair value. An expensive market is no reason to stay out and no reason to buy everything at once: keep a broad savings plan running, buy single stocks only with money you can do without, and hold part of your money liquid while the market is high. The full picture including sectors is on is it worth investing now.
What is the share price of P/f Bakkafrost (BAKKA)?
The closing price on Nov 6, 2026 was kr 433.00. Our model-based fair value is kr 327.22, about 24% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with P/f Bakkafrost right now?
The price sits above even our optimistic bull case (kr 409.03). The favourable scenario is already priced in. Solid but not exceptional quality (54/100) and above fair value, neither a clear bargain nor a standout compounder.
Where does the earnings growth of P/f Bakkafrost (BAKKA) come from?
Earnings per share at P/f Bakkafrost grew +7.5 % a year from 2011 to 2022. Broken into its drivers: revenue per share +10.9 %, EBIT margin −2.2 %, tax rate −0.4 %, residual (interest, one-offs) −0.5 %. The four rates multiply to the earnings growth rate, they do not add up. Start and end are three-year averages so a single exceptional year does not distort the result.
Key figures of P/f Bakkafrost
How large is the market capitalisation of P/f Bakkafrost (BAKKA)?
The market capitalisation of P/f Bakkafrost is 25.7B NOK (≈ $2.7B). The stock-market value of the whole company: share price times number of shares. It is what the market asks for the entire business today.
What is the P/S ratio of P/f Bakkafrost (BAKKA)?
The price-to-sales ratio of P/f Bakkafrost is 1.39 (P/E × margin). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of P/f Bakkafrost (BAKKA)?
Earnings per share at P/f Bakkafrost are kr 23.58 (price ÷ EPS = P/E 18.4). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of P/f Bakkafrost (BAKKA)?
The dividend yield of P/f Bakkafrost is 1.2% (payout 21.4%). Yearly dividend relative to the share price. 3% pays 3 per 100 invested. Below: how much of profit is used for it.
What is the net margin of P/f Bakkafrost (BAKKA)?
The net margin of P/f Bakkafrost is 7.6% (fiscal year 2025). How much of every unit of revenue ends up as profit. 10% means 10 cents of profit per dollar of sales.
What is the return on equity of P/f Bakkafrost (BAKKA)?
The return on equity (ROE) of P/f Bakkafrost is 8.6% (last twelve months). Profit relative to shareholders' equity, how efficiently the company works with its owners' money.
What is the EBIT return on assets of P/f Bakkafrost (BAKKA)?
On an EBIT basis the return on assets of P/f Bakkafrost is 7.2% (avg 5y). Operating profit (EBIT) relative to everything the company owns, as a multi-year average. It describes the business model rather than one good or bad year.
What is the operating margin of P/f Bakkafrost (BAKKA)?
The operating margin of P/f Bakkafrost is 18.9% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at P/f Bakkafrost (BAKKA)?
Revenue at P/f Bakkafrost is growing −0.3% versus a year earlier (3y avg −0.6%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How fast are earnings growing at P/f Bakkafrost (BAKKA)?
Earnings per share at P/f Bakkafrost are growing +149% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does P/f Bakkafrost (BAKKA) generate?
The free cash flow of P/f Bakkafrost is −56.5M DKK (fiscal year 2025). The cash truly left after running and investing in the business, this is what pays dividends and buybacks.
How much net debt does P/f Bakkafrost (BAKKA) carry?
The net debt of P/f Bakkafrost is 3.9B DKK (fiscal year 2025). Debt minus cash on hand. The note shows how many years of free cash flow could in theory pay it off.
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Some data
Nov 6, 2026