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P/f Bakkafrost (BAKKA) fair value: what the stock is really worth

As of Sep 23, 2026: fair value of P/f Bakkafrost NOK 336, price NOK 449, upside -25.3%, quality 55 out of 100. Calculated from audited financials with 26 valuation models and 37 quality factors, updated daily.

  1. Fair value above price? No
  2. Good quality? Yes
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Consumer Defensive · NO · ISIN FO0000000179

PF Some data Sep 24, 2026

P/f Bakkafrost

BAKKA · OL

Overvalued / MonitorQuality is not strong enough to offset the price risk.

!Fair value kr 335.79 · Overvalued (−25%)
!Quality 55/100
!Expensive Growth (revenue 5y +8.5 %/yr)
Solidly profitable · 11.7% net margin (TTM)
!Low debt · negative free cash flow
·1.13% dividend yield
!Mixed vs. peers (6/13)
!Moderate moat 53/100
!Insider activity 40/100
!Evidence only medium, so the estimate is less certain
!Weak on dividend: 23 out of 100

What runs behind every stock

69 individual criteria per stock, every one traceable See the method →

Price vs Fair Value

kr 721.97 kr 382.65 Fair Value kr 335.79 Jun 2021 Sep 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Sep 24, 2026.

How to read this chart

60‑month range kr 382.65 – kr 721.97 · fair‑value band kr 222.18 – kr 423.83 · the kr 449.20 price screens above the kr 335.79 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Sep 24, 2026.

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Company profile

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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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. 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 449.20, while our model-based Fair Value estimate is kr 335.79, implying the stock looks roughly 33.8% overvalued today.

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Valuation

Bull case: the Growth Earnings group reads highest at a median of kr 193.80 per share, and 0 of the 17 models we run sit above the kr 449.20 price.

Bear case: the Asset-Based group reads lowest at kr 124.92, and 17 of the 17 models stay below the price. Evidence for this calculation is medium.

Scenario range: kr 222.18 (bear) to kr 423.83 (bull), the price of kr 449.20 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 55/100 (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 26.6B NOK (≈ $2.8B) · P/E ratio 20.8 · P/S ratio 1.57 · EPS (TTM) kr 21.63 · Dividend yield 1.1% · Net margin 7.6% · Return on equity 7.5% · Return on assets (EBIT) 7.2%.

Competitive moat

Our AI-assisted moat analysis scores the competitive advantage at 46 out of 100 (low confidence).

What moves the price

The share trades about 13% below its 52-week high and 14% above its 52-week low, currently below its 200-day average.

For context, the median of 10 Consumer Defensive peers we cover trades at −19% fair-value upside, at −25%, BAKKA screens richer than that median.

Fair Value models

Bear kr 222.18 Fair Value kr 335.79 Bull kr 423.83
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. Based on fiscal year 2025 figures (about 9 months old). Earnings retained since then (kr 12.12 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. 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.
Highest evidence
Residual Income kr 141.56 kr 143.73 kr 135.75 76
Owner Earnings n/a kr 20.54 kr 95.18 73
EPV kr 15.83 kr 28.72 kr 39.85 71
All 17 models by family
DCF Models
Owner Earnings n/a kr 20.54 kr 95.18 73
Earnings-Based
Graham-Dodd kr 60.87 kr 335.60 kr 465.70 63
Lynch FV kr 93.50 kr 133.56 kr 173.63 61
PEG = 1.0 kr 93.50 kr 133.56 kr 173.63 57
EPV kr 15.83 kr 28.72 kr 39.85 71
Dividend Discount
Gordon GGM kr 74.23 kr 147.90 kr 223.96 67
DDM Multi-Stage kr 74.23 kr 127.82 kr 156.12 67
Multiples
P/E Multiple kr 141.00 kr 187.99 kr 234.99 63
P/S Multiple kr 114.14 kr 152.19 kr 190.23 58
P/B Multiple kr 114.14 kr 152.19 kr 190.23 55
EV/EBIT kr 123.18 kr 186.18 kr 249.17 65
EV/EBITDA kr 207.97 kr 299.23 kr 390.49 67
EV/Revenue kr 58.43 kr 111.68 kr 164.92 52
Asset-Based
NCAV (Graham) kr 93.23 kr 124.92 kr 186.45 54
Economic Profit
Residual Income kr 141.56 kr 143.73 kr 135.75 76
ROIC Compounder kr 15.83 kr 28.72 kr 39.85 70
Growth Earnings
Growth-Adj P/E kr 135.66 kr 193.80 kr 251.94 67

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Quality Score breakdown

Overall quality 55/100

Of which business quality 55 · Market factors (momentum, volatility) 54

Profitability 33
Margins and returns on capital today
Quality Growth 40
Are margins and returns improving?
Cashflow 43
Earnings quality: real cash, not paper profit
Fin. Strength 75
Balance sheet, leverage, solvency risk
Investment 64
Disciplined investing over empire-building
Low Volatility 82
Calm price path (market factor)
Momentum 45
Price trend over the last 3–12 months (market factor)
52W Momentum 36
Distance to the 52-week high (market factor)
Net Issuance 81
Share count: buybacks or dilution?

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Revenue & earnings trend

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%
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.
−3.6%
Earnings growth per share plus dividend.
Earnings per share, growth per year−4.7%
Dividend (yield on the price)1.1%
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.−11% vs −6%, 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%
Start year 2020 (pandemic)

BAKKA screens 34% overvalued. Compare with Archer-Daniels-Midland Company →

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Peer GroupHow 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 · 297 stocks

Beats the industry median on 6/13 measures
A mixed picture versus its industry peers.
Valuation
Quality Score 55 · Above median
Fair Value upside −25% · Below median
Profitability
Return on equity (TTM) 7% · Above median
Return on assets 4% · Above median
Net margin (TTM) 12% · Top 25%
Operating margin (TTM) 22% · Top 25%
Growth and dividend
Revenue growth 11% · Above median
Dividend yield (TTM) 1.1% · Below median
Balance sheet
Debt / equity 0.38× · Above median

Valuation Multiplesvs Farm Products median · lower = cheaper

P/E (TTM) 20.8× · Pricier than median
P/B 2.41× · Priciest 25%
P/S (TTM) 3.69× · Priciest 25%
EV/EBITDA 16.0× · Priciest 25%

Strength profile in five axes (Snowflake)

VALUEFUTUREPASTHEALTHDIVIDEND
This stock
VALUEFUTUREPASTHEALTHDIVIDEND
Sector peers
VALUE (fair-value potential)0 · sector 33
FUTURE (revenue growth)57 · sector 21
PAST (return on equity)30 · sector 19
HEALTH (low debt)81 · sector 94
DIVIDEND (yield)23 · sector 47

VALUE 0: the price sits above our fair-value range.

Context: sector, industry, market

Values & ESG

Does this company touch areas you may want to avoid? The classification is inferred from sector and industry.

None of the checked exposures detected

Similar stocks

10 more Farm Products stocks, each showing price versus our Fair Value estimate.

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Archer-Daniels-Midland Company ADM $82.34 $38.02 −54%
Muyuan Foods Group 002714 ¥41.86 ¥114.67 +174%
Bunge Global SA BG $110.00 $56.19 −49%
Tyson Foods, Inc TSN $51.82 $37.28 −28%
Wens Foodstuff Group 300498 ¥14.90 ¥12.08 −19%
Mowi ASA MOWI kr 196.70 kr 280.64 +43%
SalMar ASA SALM kr 561.00 kr 171.05 −70%
PT Pradiksi Gunatama Tbk PGUN 9,400 IDR 1,200 IDR −87%
Fujian Wanchen Food Group 300972 ¥163.80 ¥311.94 +90%
United Plantations Berhad 2089 33.20 MYR 36.52 MYR +10%

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Frequently asked questions

Is P/f Bakkafrost (BAKKA) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 335.79 versus a price of kr 449.20, about −25% upside (overvalued).
What is the fair value of BAKKA?
Our model-based fair value for P/f Bakkafrost is kr 335.79 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 449.20.
What is the quality score of BAKKA?
P/f Bakkafrost has a Quality Score of 55/100. 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 335.79 (as of Sep 24, 2026) from 17 valuation models. Cautious scenario kr 222.18, optimistic scenario kr 423.83. 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 335.79, about −25% upside versus a price of kr 449.20 (overvalued). Cautious scenario kr 222.18, optimistic scenario kr 423.83. 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 7.2B DKK (latest available figure, as of Sep 24, 2026).
Does P/f Bakkafrost pay a dividend?
P/f Bakkafrost currently shows a dividend yield of about 1.13% relative to its recent price (as of Sep 24, 2026).
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 335.79 per share (as of Sep 24, 2026), against a price of kr 449.20. It is the blended result of 17 valuation models (cash flow, earnings, asset, dividend).
Is P/f Bakkafrost stock overvalued or undervalued in 2026?
As of Sep 24, 2026, BAKKA trades above its calculated fair value: price kr 449.20, fair value kr 335.79, a gap of about −25% (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 449.20); the fair value is what the company's own numbers justify (kr 335.79). For P/f Bakkafrost the two are kr 113.41 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 26.6B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 449.20; our models calculate a fair value of kr 335.79 per share.
What do the bullish and bearish scenarios say about BAKKA?
Our models span a range for P/f Bakkafrost: cautious scenario kr 222.18, base kr 335.79, optimistic kr 423.83 per share (as of Sep 24, 2026, price kr 449.20). 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 20.8 (as of Sep 24, 2026). A P/E on its own says little: it compares the price with ONE year of profit, while our fair value of kr 335.79 is built from several models across several years. Other multiples: P/B 2.4, P/S 3.7, EV/EBITDA 16.0.
How solid is the balance sheet of P/f Bakkafrost (BAKKA)?
Balance-sheet figures for P/f Bakkafrost (as of Sep 24, 2026): return on equity 7.5%, debt of 0.38 per unit of equity. They feed the Quality Score of 55/100, which measures business quality independently of the share price.
How far is BAKKA from its 52-week high?
P/f Bakkafrost trades at kr 449.20, about 13% below its 52-week high of kr 515.20 and 14% above the low of kr 395.00 (as of Sep 23, 2026). Distance from the high says nothing about value: that is what the fair value of kr 335.79 is for.
Which stocks are comparable to P/f Bakkafrost?
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 P/f Bakkafrost stock attractive at the current price?
The data as of Sep 24, 2026: price kr 449.20, calculated fair value kr 335.79 (−25%), Quality Score 55/100, from 17 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 17 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 335.79, 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 14.1 % 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 Sep 23, 2026 was kr 449.20. Our model-based fair value is kr 335.79, about −25% upside (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 423.83). The favourable scenario is already priced in. Solid but not exceptional quality (55/100) and above fair value, neither a clear bargain nor a standout compounder. A fairly wide model range (kr 222.18 to kr 423.83) leaves room in how you read the outcome.
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 26.6B NOK (≈ $2.8B). 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 1.57 (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 21.63 (price ÷ EPS = P/E 20.8). 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 1.1% (payout 23.4%). 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 7.5% (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 22.1% (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 +11.3% 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 +23.8% 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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