Lerøy Seafood Group ASA (LSG) fair value: what the stock is really worth
As of Nov 6, 2026: fair value (intrinsic value) of Lerøy Seafood Group ASA stock NOK 21.93, price NOK 42.76, that is 48.7% below the price, quality 56 out of 100. Rating: strongly overvalued. Calculated from audited financials with 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 7, 2026.
How to read this chart
60‑month range kr 31.37 – kr 69.86 · fair‑value band kr 21.85 – kr 22.66 · the kr 42.76 price screens above the kr 21.93 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 1 fiscal year is left out: there the valuation rested on only a fraction of the usual models. As of Nov 7, 2026.
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Lerøy Seafood Group ASA produces, processes, markets, sells, and distributes seafood products. The company operates in three segments: Wildcatch; Farming; and Value-Added Processing, Sales, and Distribution.
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It offers salmon and trout, whole fish, fillets, portions, smoked, graved, block, cured, ready-to-eat, and ready-to-cook products. The company also catches and processes various whitefish, including fresh and frozen options, as well as products comprising shrimp, crab, and mussels.
In addition, it provides seaweed products and value-added products, such as breaded fish, burgers, patties, and other ready-to-cook or ready-to-eat seafood products; and crustaceans and molluscs, seaweed, and fresh and frozen consequence products for industrial processing.
The company markets its products primarily under the Norway Seafoods, Arctic Supreme, Fjord Trout, Aurora Salmon, Fossen, Sea Eagle, Lerøy, and M"r brands to supermarkets, restaurants, canteens, hotels, wholesalers, retailers, food service companies, and industrial customers.
It operates in the European Union, Norway, Asia, rest of Europe, the United States, Canada, and internationally. The company was founded in 1899 and is headquartered in Bergen, Norway. Lerøy Seafood Group ASA operates as a subsidiary of Austevoll Seafood ASA.
Stock analysis
Lerøy Seafood Group ASA (LSG) currently trades at kr 42.76, while our model-based Fair Value estimate is kr 21.93, 49% below the price, so the stock looks overvalued today.
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Valuation
Bull case: the Growth DCF group reads highest at a median of kr 73.72 per share, and 11 of the 26 models we run sit above the kr 42.76 price.
Bear case: the Earnings-Based group reads lowest at kr 6.48, and 15 of the 26 models stay below the price. Data coverage for this calculation is high.
Scenario range: kr 21.85 (bear) to kr 22.66 (bull), the price of kr 42.76 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 56/100 (solid quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Lerøy Seafood Group ASA reported revenue of 34.4B NOK in FY2025 versus 23.1B NOK in FY2021, a compound +10.5%/yr. Reported net income was 366M NOK in FY2025, compounding −38.9%/yr from FY2021.
Key figures
Market cap 25.5B NOK (≈ $2.7B) Mid · P/E ratio 35.9 · P/S ratio 0.76 · EPS (TTM) kr 1.19 · Dividend yield 5.8% · Net margin 2.1% · Return on equity 4.0% · Return on assets (EBIT) 7.9% (5-year average).
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 27 out of 100 (low confidence).
What moves the price
The last reported earnings sit well below what analysts expect (earnings in transition, for example after write-downs or an earnings dip); whether the stock is cheap or expensive hinges on the expected recovery actually arriving. Read the fair value with that caveat.
The share trades about 12% below its 52-week high and 13% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at −1% fair-value upside, at −49%, LSG screens richer than that median.
Fair Value models
Bearkr 21.85Fair Value kr 21.93Bullkr 22.66
Price kr 42.76 · Downside -48.7%
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.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.
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.79/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
Revenue growth 1 year
+10.4%
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.
+8.8%
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.
+11.5%
Start year 2020 (pandemic). Over 10 years: +9.8% a year
Revenue growth 25 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.
+10.7%
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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.
−21.9%
Earnings growth per share plus dividend.
Earnings per share, growth per year−27.7%
Dividend (yield on the price)5.8%
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.−27.7% vs −11.8%, 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.6% → 3%
Pace: the 5-year rate starts in 2020 (pandemic)
Growth Forecast
Little optimism in the price
The price assumes less growth than the company has delivered so far and less than analysts expect.
What the price assumes ⓘThis turns our valuation around: instead of asking what the share is worth, it asks what growth the current price requires. It uses the cash the company keeps after all spending (free cash flow), the same discount rate as our models, five years of growth, then slowing evenly to 2 % a year by year ten. Compared with the analysts' sales forecasts extended to the same five years (at least three analysts, for context only, it does not enter the Fair Value): within 3 percentage points counts as "in line" (amber), below that little optimism (green), above that a lot of optimism (red).
−1.5%
The company could shrink this much every year for the next five years and today's price would still be justified.
What forecasts expect ⓘAnalysts publish sales forecasts for the next two fiscal years. For the years after that, growth slows evenly to 2 % a year by year ten (2 % is the long-run rate our models use). Projected years are marked as such.
+6.0%
Yearly sales growth analysts expect, extended to five years.
After inflation (Norway: IMF forecast 2.4% a year to 2030, 3.3% from 2016 to 2025) that is about −3.9% a year for the price and +3.5% for the forecasts.
AI conclusion: Integrated farming-to-market operations offer some resilience, yet thin evidence and low profitability metrics indicate limited competitive advantage.
Main risk: Biological pressures and quota limits risk margin erosion through persistent volume shortfalls in the integrated seafood operations.
Lerøy posted weaker salmon and trout harvests in Q3 along with a steep fall in wild-catch volumes. The shortfall leaves the full-year target dependent on a strong Q4, while the full earnings release in November will clarify whether prices and costs can compensate. Will the integrated farming-to-market model absorb these biological and quota pressures without margin erosion, or will the volume gap prove more persistent?
Compare Lerøy Seafood Group ASA with another stock
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.Packaged Foods · 627 stocks
Beats the industry median on 5/15 measures
Overall it trails its industry peers.
Valuation
Quality Score56 · Above median
Fair Value upside−48.7% · Bottom 25%
Profitability
Return on equity (12 months)4.0% · Below median
Return on assets0.9% · Bottom 25%
Net margin (12 months)2.1% · Below median
Operating margin (12 months)−4.3% · Bottom 25%
Growth and dividend
Revenue growth (quarter YoY)−10.6% · Bottom 25%
Dividend yield (12 months)5.8% · Top 25%
Balance sheet
Debt / equity0.26× · Above median
Valuation Multiplesvs Packaged Foods median · lower = cheaper
P/E (12 months)35.9× · Priciest 25%
P/B1.35× · Cheaper than median
P/S (12 months)0.76× · Cheaper than median
Price / free cash flow (fiscal year)10.0× · Cheaper than median
EV/EBITDA8.9× · Pricier than median
PEG1.75× · Pricier than median
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 35
FUTURE (revenue growth)0· sector 25
PAST (return on equity)16· sector 31
HEALTH (low debt)87· sector 96
DIVIDEND (yield)100· sector 55
VALUE 0: the price sits above our fair-value range.
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). "Lerøy Seafood Group ASA Fair Value". https://www.fairvalue-calculator.com/stock/LSG
Frequently asked questions
Is Lerøy Seafood Group ASA (LSG) overvalued or undervalued?
As of Nov 7, 2026, our model estimates a fair value of kr 21.93 versus a price of kr 42.76, about 49% lower (overvalued).
What is the fair value of LSG?
Our model-based fair value for Lerøy Seafood Group ASA is kr 21.93 (as of Nov 7, 2026), built from audited fundamentals. The current price: kr 42.76.
What is the quality score of LSG?
Lerøy Seafood Group ASA has a Quality Score of 56/100. 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 Lerøy Seafood Group ASA (LSG)?
Our model-based price target is the fair value of kr 21.93 (as of Nov 7, 2026) from 26 valuation models. Cautious scenario kr 21.85, optimistic scenario kr 22.66. It is a calculation from audited fundamentals, not an analyst target.
What is the Lerøy Seafood Group ASA stock forecast for 2026?
Our models put fair value at kr 21.93, about 49% lower versus a price of kr 42.76 (overvalued). Cautious scenario kr 21.85, optimistic scenario kr 22.66. The calculation is refreshed regularly with new filings.
What is the revenue of Lerøy Seafood Group ASA (LSG)?
Lerøy Seafood Group ASA reported trailing-twelve-month revenue of about 33.6B NOK (latest available figure, as of Nov 7, 2026).
Does Lerøy Seafood Group ASA pay a dividend?
Lerøy Seafood Group ASA currently shows a dividend yield of 5.85% relative to its recent price (as of Nov 7, 2026).
How much is the dividend of Lerøy Seafood Group ASA (LSG) and when is the ex-dividend date?
Lerøy Seafood Group ASA pays a dividend of kr 2.50 per share a year, a dividend yield of 5.8%. The last ex-dividend date was May 28, 2026. A dividend has been paid every year since at least 2003. Free cash flow covers the dividend 1.71 times. Our assessment: Sustainable. Payout and cash coverage both look sustainable.
What growth is priced into Lerøy Seafood Group ASA (LSG)?
For today's price to be fair in a discounted-cash-flow model, Lerøy Seafood Group ASA would have to grow free cash flow by -1.5 % per year for five years (discount rate 8.6 %, then slowing evenly to 2 % perpetual growth by year ten). Over the last 5 years revenue grew +11.5 % per year. As of Nov 7, 2026.
What discount rate (WACC) does the fair value of LSG use?
Our models discount Lerøy Seafood Group ASA at 8.6 %: a base by market capitalisation (mid), damped by beta 0.60, country premium for Norway. The same rate applies in all 26 models.
What is a reverse DCF?
A reverse DCF turns the usual calculation around. Instead of deriving a value from assumptions, it takes today's price as given and asks: what free-cash-flow growth would a company have to deliver for exactly this price to be fair? The result is not a forecast but the expectation already priced in. For Lerøy Seafood Group ASA that is -1.5 % per year for five years, then slowing evenly to 2 % by year ten, using the same discount rate (8.6 %) and the same formula as our fair value.
How much growth has Lerøy Seafood Group ASA (LSG) delivered so far?
Over the past 5 years revenue at Lerøy Seafood Group ASA grew +11.5 % a year. The price currently implies free-cash-flow growth of -1.5 % per year. Comparing the two shows how much confidence is in the price: if it demands more than has been delivered, the business has to accelerate for the maths to work.
How fast is the sector of Lerøy Seafood Group ASA (LSG) growing?
The median revenue growth in the sector is +3.6 % a year. That is the yardstick for the growth priced into Lerøy Seafood Group ASA (-1.5 % per year): it shows whether the expectation is within the usual range or beyond it.
What is the free cash flow yield of Lerøy Seafood Group ASA (LSG)?
The free-cash-flow yield on the price is 9.99 %: that much free cash flow Lerøy Seafood Group ASA produces per unit of market value. When it exceeds the discount rate of our models (8.6 %), the business already earns more than its cost of capital demands, and the price needs little additional growth.
What is the intrinsic value of Lerøy Seafood Group ASA (LSG)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Lerøy Seafood Group ASA it is kr 21.93 per share (as of Nov 7, 2026), against a price of kr 42.76. It is the blended result of 26 valuation models in 8 families (DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings).
Is Lerøy Seafood Group ASA stock overvalued or undervalued in 2026?
As of Nov 7, 2026, LSG trades above its calculated fair value: price kr 42.76, fair value kr 21.93, a gap of about −49% (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 LSG?
No. The price is what the market pays today (kr 42.76); the fair value is what the company's own numbers justify (kr 21.93). For Lerøy Seafood Group ASA the two are kr 20.83 per share apart. That gap is exactly why we show both numbers side by side.
How much is Lerøy Seafood Group ASA worth?
The market values Lerøy Seafood Group ASA at about 25.5B NOK (market capitalisation, as of Nov 7, 2026). Per share that is kr 42.76; our models calculate a fair value of kr 21.93 per share.
What do the bullish and bearish scenarios say about LSG?
Our models span a range for Lerøy Seafood Group ASA: cautious scenario kr 21.85, base kr 21.93, optimistic kr 22.66 per share (as of Nov 7, 2026, price kr 42.76). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the P/E ratio of LSG?
Lerøy Seafood Group ASA trades at a price-to-earnings ratio of 35.9 (as of Nov 7, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 21.93 is built from several models across several years. Median P/E at fiscal year-end, 9 fiscal years (2017 to 2025), reported earnings: 15.6. Other multiples: PEG 1.8, P/B 1.4, P/S 0.8, EV/EBITDA 8.9.
What is the PEG ratio of LSG?
The PEG ratio of Lerøy Seafood Group ASA is 1.75 (P/E divided by earnings growth, as of Nov 7, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Lerøy Seafood Group ASA (LSG)?
Balance-sheet figures for Lerøy Seafood Group ASA (as of Nov 7, 2026): return on equity 4.0%, debt of 0.26 per unit of equity. They feed the Quality Score of 56/100, which measures business quality independently of the share price.
How far is LSG from its 52-week high?
Lerøy Seafood Group ASA trades at kr 42.76, about 12% below its 52-week high of kr 48.72 and 13% above the low of kr 38.00 (as of Nov 6, 2026). Distance from the high says nothing about value: that is what the fair value of kr 21.93 is for.
Which stocks are comparable to Lerøy Seafood Group ASA?
From the same area (Consumer Defensive) we also value Nestlé S.A, Danone S.A, Foshan Haitian Flavouring and Food Company, The Kraft Heinz Company, 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 Lerøy Seafood Group ASA stock attractive at the current price?
The data as of Nov 7, 2026: price kr 42.76, calculated fair value kr 21.93 (−49%), Quality Score 56/100, from 26 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 LSG calculated?
We run Lerøy Seafood Group ASA through 26 models from 8 families: DCF Models, Earnings-Based, Dividend Discount, Multiples, Asset-Based, Growth DCF, Economic Profit, Growth Earnings. Every model gets the same audited fundamentals; the fair value of kr 21.93 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. Lerøy Seafood Group ASA 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 Lerøy Seafood Group ASA (LSG)?
The closing price on Nov 6, 2026 was kr 42.76. Our model-based fair value is kr 21.93, about 49% lower (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Lerøy Seafood Group ASA right now?
The price sits above even our optimistic bull case (kr 22.66). The favourable scenario is already priced in. Solid but not exceptional quality (56/100) and above fair value, neither a clear bargain nor a standout compounder. The models converge in a tight band (kr 21.85 to kr 22.66), unusually little disagreement for a valuation.
Where does the earnings growth of Lerøy Seafood Group ASA (LSG) come from?
Earnings per share at Lerøy Seafood Group ASA grew +9.4 % a year from 2011 to 2022. Broken into its drivers: revenue per share +9.2 %, EBIT margin +0.1 %, tax rate +0.6 %, 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 Lerøy Seafood Group ASA
How large is the market capitalisation of Lerøy Seafood Group ASA (LSG)?
The market capitalisation of Lerøy Seafood Group ASA is 25.5B 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 Lerøy Seafood Group ASA (LSG)?
The price-to-sales ratio of Lerøy Seafood Group ASA is 0.76 (last twelve months). Price to sales: market value relative to yearly revenue. Useful when profit is thin or distorted.
What are the earnings per share of Lerøy Seafood Group ASA (LSG)?
Earnings per share at Lerøy Seafood Group ASA are kr 1.19 (price ÷ EPS = P/E 35.9). Earnings per share over the last twelve months: total profit spread across every single share.
What is the dividend yield of Lerøy Seafood Group ASA (LSG)?
The dividend yield of Lerøy Seafood Group ASA is 5.8%. 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 Lerøy Seafood Group ASA (LSG)?
The net margin of Lerøy Seafood Group ASA is 2.1% (last twelve months). 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 Lerøy Seafood Group ASA (LSG)?
The return on equity (ROE) of Lerøy Seafood Group ASA is 4.0% (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 Lerøy Seafood Group ASA (LSG)?
On an EBIT basis the return on assets of Lerøy Seafood Group ASA is 7.9% (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 Lerøy Seafood Group ASA (LSG)?
The operating margin of Lerøy Seafood Group ASA is −4.3% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Lerøy Seafood Group ASA (LSG)?
Revenue at Lerøy Seafood Group ASA is growing −10.6% versus a year earlier (3y avg +8.8%). 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 Lerøy Seafood Group ASA (LSG)?
Earnings per share at Lerøy Seafood Group ASA are growing −89.4% versus a year earlier. How much earnings per share grew versus a year earlier.
How much net debt does Lerøy Seafood Group ASA (LSG) carry?
The net debt of Lerøy Seafood Group ASA is 6.9B NOK (fiscal year 2025, ≈ 2.7 yrs of FCF). 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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Broad data
Nov 7, 2026