Grieg Seafood ASA (GSF) fair value: what the stock is really worth
As of Sep 24, 2026: fair value of Grieg Seafood ASA NOK 52.19, price NOK 25.48, upside +104.8%, quality 58 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 Sep 24, 2026.
How to read this chart
60‑month range kr 24.05 – kr 70.33 · fair‑value band kr 43.83 – kr 122.87 · the kr 25.48 price screens below the kr 52.19 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). 2 fiscal years are left out: there the valuation rested on only a fraction of the usual models. Dashed = 300-day average. As of Sep 24, 2026.
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Grieg Seafood ASA, a seafood company, engages in the farming, production, and sale of Atlantic salmon in Continental Europe, the United Kingdom, the United States, Canada, Asia, and internationally. The company also provides aquaculture services; and byproducts, including smolt, fry, roe, and ensilage. It serves wholesalers, producers, and retailers.
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Grieg Seafood ASA, a seafood company, engages in the farming, production, and sale of Atlantic salmon in Continental Europe, the United Kingdom, the United States, Canada, Asia, and internationally. The company also provides aquaculture services; and byproducts, including smolt, fry, roe, and ensilage. It serves wholesalers, producers, and retailers. The company was incorporated in 1988 and is headquartered in Bergen, Norway. Grieg Seafood ASA operates as a subsidiary of Grieg Aqua AS.
Stock analysis
Grieg Seafood ASA (GSF) currently trades at kr 25.48, while our model-based Fair Value estimate is kr 52.19, implying the stock looks roughly 51.2% undervalued today.
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Valuation
Bull case: the Growth Earnings group reads highest at a median of kr 180.93 per share, and 15 of the 15 models we run sit above the kr 25.48 price.
Bear case: the Asset-Based group reads lowest at kr 26.60, and 0 of the 15 models stay below the price. Evidence for this calculation is low.
Scenario range: kr 43.83 (bear) to kr 122.87 (bull), the price of kr 25.48 sits below 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 58/100 (solid quality), in the Consumer Defensive sector.
Weak Growth: Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Grieg Seafood ASA reported revenue of 3.7B NOK in FY2025 versus 4.6B NOK in FY2021, a compound −5.3%/yr. Reported net income was 1.1B NOK in FY2025, compounding +16.4%/yr from FY2021.
Key figures
Market cap 3.4B NOK (≈ $352M) · P/S ratio 0.91 · EPS (TTM) kr −1.10 · Net margin 30.0% · Return on equity 2.2% · Return on assets (EBIT) 7.2% · Operating margin 17.0% · Revenue (TTM) 3.7B NOK.
Competitive moat
Our AI-assisted moat analysis scores the competitive advantage at 48 out of 100 (low confidence).
What moves the price
The share trades about 38% below its 52-week high and 3% 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 105%, GSF screens cheaper than that median.
Fair Value models
Bear kr 43.83Fair Value kr 52.19Bull kr 122.87
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.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.19/100
Revenue growth is inconsistent: the periods point in different directions, so there is no trend to rely on.
Revenue growth 1 year
+11.4%
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.
−19.8%
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.
−3.4%
Start year 2020 (pandemic). Over 10 years: −2.2% a year
Revenue growth 20 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.
+11.6%
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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.
+12.5%
Earnings growth per share plus dividend.
Earnings per share, growth per year+12.5%
Dividend (yield on the price)0.0%
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.13% vs 5%, picking up
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% → 6%
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 · 296 stocks
Beats the industry median on 7/11 measures
Overall it ranks above its industry peers.
Valuation
Quality Score58 · Above median
Fair Value upside+105% · Top 25%
Profitability
Return on equity (TTM)2% · Below median
Return on assets1% · Below median
Net margin (TTM)30% · Top 25%
Operating margin (TTM)17% · Top 25%
Growth and dividend
Revenue growth−53% · Bottom 25%
Dividend yield (TTM)119.5% · Top 25%
Valuation Multiplesvs Farm Products median · lower = cheaper
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Is Grieg Seafood ASA (GSF) overvalued or undervalued?
As of Sep 24, 2026, our model estimates a fair value of kr 52.19 versus a price of kr 25.48, about +105% upside (undervalued).
What is the fair value of GSF?
Our model-based fair value for Grieg Seafood ASA is kr 52.19 (as of Sep 24, 2026), built from audited fundamentals. The current price: kr 25.48.
What is the quality score of GSF?
Grieg Seafood ASA has a Quality Score of 58/100. 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 Grieg Seafood ASA (GSF)?
Our model-based price target is the fair value of kr 52.19 (as of Sep 24, 2026) from 15 valuation models. Cautious scenario kr 43.83, optimistic scenario kr 122.87. It is a calculation from audited fundamentals, not an analyst target.
What is the Grieg Seafood ASA stock forecast for 2026?
Our models put fair value at kr 52.19, about +105% upside versus a price of kr 25.48 (undervalued). Cautious scenario kr 43.83, optimistic scenario kr 122.87. The calculation is refreshed regularly with new filings.
What is the revenue of Grieg Seafood ASA (GSF)?
Grieg Seafood ASA reported trailing-twelve-month revenue of about 3.7B NOK (latest available figure, as of Sep 24, 2026).
What is the intrinsic value of Grieg Seafood ASA (GSF)?
Intrinsic value and fair value mean the same thing: what the business is worth on its numbers, independent of the share price. For Grieg Seafood ASA it is kr 52.19 per share (as of Sep 24, 2026), against a price of kr 25.48. It is the blended result of 15 valuation models (cash flow, earnings, asset, dividend).
Is Grieg Seafood ASA stock overvalued or undervalued in 2026?
As of Sep 24, 2026, GSF trades below its calculated fair value: price kr 25.48, fair value kr 52.19, a gap of about +105% (undervalued). 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 GSF?
No. The price is what the market pays today (kr 25.48); the fair value is what the company's own numbers justify (kr 52.19). For Grieg Seafood ASA the two are kr 26.71 per share apart. That gap is exactly why we show both numbers side by side.
How much is Grieg Seafood ASA worth?
The market values Grieg Seafood ASA at about 3.4B NOK (market capitalisation, as of Sep 24, 2026). Per share that is kr 25.48; our models calculate a fair value of kr 52.19 per share.
What do the bullish and bearish scenarios say about GSF?
Our models span a range for Grieg Seafood ASA: cautious scenario kr 43.83, base kr 52.19, optimistic kr 122.87 per share (as of Sep 24, 2026, price kr 25.48). The range comes from different growth and margin assumptions, not from analyst opinions.
What is the PEG ratio of GSF?
The PEG ratio of Grieg Seafood ASA is 1.09 (P/E divided by earnings growth, as of Sep 24, 2026). That is above 1, so the growth is already paid for in the price.
How solid is the balance sheet of Grieg Seafood ASA (GSF)?
Balance-sheet figures for Grieg Seafood ASA (as of Sep 24, 2026): return on equity 2.2%. They feed the Quality Score of 58/100, which measures business quality independently of the share price.
How far is GSF from its 52-week high?
Grieg Seafood ASA trades at kr 25.48, about 38% below its 52-week high of kr 41.33 and 3% above the low of kr 24.64 (as of Sep 24, 2026). Distance from the high says nothing about value: that is what the fair value of kr 52.19 is for.
Which stocks are comparable to Grieg Seafood ASA?
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 Grieg Seafood ASA stock attractive at the current price?
The data as of Sep 24, 2026: price kr 25.48, calculated fair value kr 52.19 (+105%), Quality Score 58/100, from 15 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 GSF calculated?
We run Grieg Seafood ASA through 15 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 52.19, 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 14.0 % above its aggregate fair value. Grieg Seafood ASA currently trades 105 % below its own fair value, and the market average says nothing about that. 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 Grieg Seafood ASA (GSF)?
The closing price on Sep 24, 2026 was kr 25.48. Our model-based fair value is kr 52.19, about +105% upside (undervalued). We carry closing prices from our data provider, not a live tick.
What should I pay attention to with Grieg Seafood ASA right now?
The price is below even our cautious bear case (kr 43.83). The market is more pessimistic than our downside scenario. The model range is unusually wide (kr 43.83 to kr 122.87). The outcome hinges heavily on assumptions, so read the point estimate with caution. The large gap to fair value rests on thin data (low evidence): fewer applicable models and a shorter history. Read it with extra caution. Solid quality (58/100) at a price below fair value, the discount is the argument here, not the business quality.
Key figures of Grieg Seafood ASA
How large is the market capitalisation of Grieg Seafood ASA (GSF)?
The market capitalisation of Grieg Seafood ASA is 3.4B NOK (≈ $352M). 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 Grieg Seafood ASA (GSF)?
The price-to-sales ratio of Grieg Seafood ASA is 0.91 (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 Grieg Seafood ASA (GSF)?
Earnings per share at Grieg Seafood ASA are kr −1.10. Earnings per share over the last twelve months: total profit spread across every single share.
What is the net margin of Grieg Seafood ASA (GSF)?
The net margin of Grieg Seafood ASA is 30.0% (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 Grieg Seafood ASA (GSF)?
The return on equity (ROE) of Grieg Seafood ASA is 2.2% (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 Grieg Seafood ASA (GSF)?
On an EBIT basis the return on assets of Grieg Seafood ASA 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 Grieg Seafood ASA (GSF)?
The operating margin of Grieg Seafood ASA is 17.0% (last twelve months). Profit from the core business (before interest and taxes) relative to revenue.
How fast is revenue growing at Grieg Seafood ASA (GSF)?
Revenue at Grieg Seafood ASA is growing −53.1% versus a year earlier (3y avg −19.8%). 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 Grieg Seafood ASA (GSF)?
Earnings per share at Grieg Seafood ASA are growing +799% versus a year earlier. How much earnings per share grew versus a year earlier.
How much free cash flow does Grieg Seafood ASA (GSF) generate?
The free cash flow of Grieg Seafood ASA is −329M 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 Grieg Seafood ASA (GSF) carry?
The net debt of Grieg Seafood ASA is 5.2B NOK (fiscal year 2024). 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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