Andfjord Salmon AS (ANDF) fair value: what the stock is really worth
As of Oct 12, 2026: fair value of Andfjord Salmon AS NOK 11.21, price NOK 27.50, upside -59.2%, quality 25 out of 100. 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, dashed = 300-day average. As of Oct 1, 2026.
How to read this chart
60‑month range kr 24.00 – kr 49.60 · fair‑value band kr 8.36 – kr 16.74 · the kr 27.50 price screens above the kr 11.21 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Oct 1, 2026.
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Andfjord Salmon Group AS engages in the land-based farming of Atlantic salmon in Norway. The company was formerly known as Andfjord Salmon AS and changed its name to Andfjord Salmon Group AS in May 2024. Andfjord Salmon Group AS was founded in 2014 and is based in Dverberg, Norway.
Stock analysis
Andfjord Salmon AS (ANDF) currently trades at kr 27.50, while our model-based Fair Value estimate is kr 11.21, 59.2% below the price, so the stock looks overvalued today.
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Valuation
How firm this estimate is: it rests on 1 models at a data quality of 95/100, which puts the evidence level at low.
Scenario range: kr 8.36 (bear) to kr 16.74 (bull), the price of kr 27.50 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 25/100 (below-average quality), in the Consumer Defensive sector.
Mixed Growth: Revenue is growing, but margins or cash flow do not fully confirm the trend.
Andfjord Salmon AS reported revenue of 815K NOK in FY2025 versus 0 NOK in FY2021. Reported net income was −104M NOK in FY2025.
Key figures
Market cap 3.3B NOK (≈ $346M) · P/S ratio 64.5 · EPS (TTM) kr −1.02 · Net margin −202% · Return on equity −4.2% · Return on assets (EBIT) −5.6% · Operating margin −42.0% · Revenue growth (YoY) +57.1%.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 22 out of 100 (low confidence).
What moves the price
The share trades about 14% below its 52-week high and 15% above its 52-week low, currently below its 200-day average.
For context, the median of 10 Consumer Defensive peers we cover trades at 10% fair-value upside, at −59%, ANDF screens richer than that median.
Fair Value models
Bear kr 8.36Fair Value kr 11.21Bull kr 16.74
Price kr 27.50 · Upside -59.2%
Model ⓘEach model values the company its own way (discounted cash flow, earnings, assets, dividends). The fair value above is their evidence-weighted blend, not the output of a single model.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.Evidence ⓘEvidence = 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.27/100
Revenue is growing, but margins or cash flow do not fully confirm the trend.
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.
+93.2%
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.
+35.1%
Start year 2020 (pandemic)
Revenue growth 8 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.
+16.1%
’17
’19
’20
’22
’23
’25
Profit margin (trend) ⓘ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.
−10,847.1% (2020) → −14,288.8% (2025)
What shareholders gained per year ⓘWe only publish this rate when it is defensible. Reason: fiscal 2025 is a loss year, no rate is defined from a loss
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 · 288 stocks
Beats the industry median on 2/8 measures
Overall it trails its industry peers.
Valuation
Quality Score25 · Bottom 25%
Fair Value upside−59.2% · Bottom 25%
Profitability
Return on assets−1.5% · Bottom 25%
Operating margin (TTM)−42.0% · Bottom 25%
Growth and dividend
Revenue growth57.1% · Top 25%
Balance sheet
Debt / equity0.66× · Highest 25%
Valuation Multiplesvs Farm Products median · lower = cheaper
P/B0.14× · Cheapest 25%
P/S (TTM)6.75× · Priciest 25%
Strength profile in five axes (Snowflake)
This stockSector peers
VALUE (fair-value potential)0· sector 27
FUTURE (revenue growth)100· sector 19
PAST (return on equity)0· sector 19
HEALTH (low debt)67· sector 94
DIVIDEND (yield)0· sector 45
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). "Andfjord Salmon AS Fair Value". https://www.fairvalue-calculator.com/stock/ANDF
Frequently asked questions
Is Andfjord Salmon AS (ANDF) overvalued or undervalued?
As of Oct 1, 2026, our model estimates a fair value of kr 11.21 versus a price of kr 27.50, about −59% upside (overvalued).
What is the fair value of ANDF?
Our model-based fair value for Andfjord Salmon AS is kr 11.21 (as of Oct 1, 2026), built from audited fundamentals. The current price: kr 27.50.
What is the quality score of ANDF?
Andfjord Salmon AS has a Quality Score of 25/100. 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 Andfjord Salmon AS (ANDF)?
Our model-based price target is the fair value of kr 11.21 (as of Oct 1, 2026) from 1 valuation models. Cautious scenario kr 8.36, optimistic scenario kr 16.74. It is a calculation from audited fundamentals, not an analyst target.
What is the Andfjord Salmon AS stock forecast for 2026?
Our models put fair value at kr 11.21, about −59% upside versus a price of kr 27.50 (overvalued). Cautious scenario kr 8.36, optimistic scenario kr 16.74. The calculation is refreshed regularly with new filings.
What is the intrinsic value of Andfjord Salmon AS (ANDF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Andfjord Salmon AS it is kr 11.21 per share (as of Oct 1, 2026), against a price of kr 27.50. It is the blended result of 1 valuation models (cash flow, earnings, asset, dividend).
Is Andfjord Salmon AS stock overvalued or undervalued in 2026?
As of Oct 1, 2026, ANDF trades above its calculated fair value: price kr 27.50, fair value kr 11.21, a gap of about −59% (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 ANDF?
No. The price is what the market pays today (kr 27.50); the fair value is what the company's own numbers justify (kr 11.21). For Andfjord Salmon AS the two are kr 16.29 per share apart. That gap is exactly why we show both numbers side by side.
How much is Andfjord Salmon AS worth?
The market values Andfjord Salmon AS at about 3.3B NOK (market capitalisation, as of Oct 1, 2026). Per share that is kr 27.50; our models calculate a fair value of kr 11.21 per share.
What do the bullish and bearish scenarios say about ANDF?
Our models span a range for Andfjord Salmon AS: cautious scenario kr 8.36, base kr 11.21, optimistic kr 16.74 per share (as of Oct 1, 2026, price kr 27.50). The range comes from different growth and margin assumptions, not from analyst opinions.
How solid is the balance sheet of Andfjord Salmon AS (ANDF)?
Balance-sheet figures for Andfjord Salmon AS (as of Oct 1, 2026): return on equity −4.2%, debt of 0.66 per unit of equity. They feed the Quality Score of 25/100, which measures business quality independently of the share price.
How far is ANDF from its 52-week high?
Andfjord Salmon AS trades at kr 27.50, about 14% below its 52-week high of kr 31.90 and 15% above the low of kr 24.00 (as of Oct 12, 2026). Distance from the high says nothing about value: that is what the fair value of kr 11.21 is for.
Which stocks are comparable to Andfjord Salmon AS?
From the same area (Consumer Defensive) we also value Archer-Daniels-Midland Company, Muyuan Foods Group, Bunge Global SA, Tyson Foods, Inc, 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 Andfjord Salmon AS stock attractive at the current price?
The data as of Oct 1, 2026: price kr 27.50, calculated fair value kr 11.21 (−59%), Quality Score 25/100, from 1 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 ANDF calculated?
We run Andfjord Salmon AS through 1 models from four families: discounted cash flow, earnings models, asset and balance-sheet models, and dividend models. Every model gets the same audited fundamentals; the result is the weighted average of kr 11.21, 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 14.9 % above its aggregate fair value. Andfjord Salmon AS 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 Andfjord Salmon AS (ANDF)?
The closing price on Oct 12, 2026 was kr 27.50. Our model-based fair value is kr 11.21, about −59% upside (overvalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Andfjord Salmon AS right now?
The price sits above even our optimistic bull case (kr 16.74). The favourable scenario is already priced in. Weak quality (25/100) and above fair value at the same time, the margin of safety is missing on both counts. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. A fairly wide model range (kr 8.36 to kr 16.74) leaves room in how you read the outcome.
Key figures of Andfjord Salmon AS
How large is the market capitalisation of Andfjord Salmon AS (ANDF)?
The market capitalisation of Andfjord Salmon AS is 3.3B NOK (≈ $346M). 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 Andfjord Salmon AS (ANDF)?
The price-to-sales ratio of Andfjord Salmon AS is 64.5 (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 Andfjord Salmon AS (ANDF)?
Earnings per share at Andfjord Salmon AS are kr −1.02. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Andfjord Salmon AS (ANDF)?
The net margin of Andfjord Salmon AS is −202% (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 Andfjord Salmon AS (ANDF)?
The return on equity (ROE) of Andfjord Salmon AS is −4.2% (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 Andfjord Salmon AS (ANDF)?
On an EBIT basis the return on assets of Andfjord Salmon AS is −5.6% (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 Andfjord Salmon AS (ANDF)?
The operating margin of Andfjord Salmon AS is −42.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Andfjord Salmon AS (ANDF)?
Revenue at Andfjord Salmon AS is growing +57.1% versus a year earlier (3y avg +93.2%). How much revenue grew versus a year earlier (YoY). The 3-year average next to it puts the single year in context.
How much free cash flow does Andfjord Salmon AS (ANDF) generate?
The free cash flow of Andfjord Salmon AS is −2.2B NOK (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 Andfjord Salmon AS (ANDF) carry?
The net debt of Andfjord Salmon AS is 1.5B NOK (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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