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Lerøy Seafood Group (LSG) Fair Value & Analysis

Consumer Defensive · NO · Market cap 24.3B NOK

LS Lerøy Seafood Group LSG · OL
Pricekr 41.58
Fair Valuekr 12.91
Upside-69.0%
Quality59/100
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Healthy Growth
Thin margins · 3.0% net margin
Low debt · generates free cash flow
6.16% dividend yield
Mixed vs. peers (6/15)
Narrow moat 37/100
Evidence: High Range kr 9.68 – kr 16.13 Share as image

Fair value as of: Jul 18, 2026

From 26 valuation models · updated 23 days ago

Share price +5.9% over the past month.

A solid business, but screening 69% overvalued on our models.

What matters now

  • The price sits above even our optimistic bull case (kr 16.13). The favourable scenario is already priced in.
  • Solid but not exceptional quality (59/100) and above fair value, neither a clear bargain nor a standout compounder.
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Price vs Fair Value (5 years)

kr 69.86 kr 31.37 Fair Value kr 12.91 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 18, 2026.

How to read this chart

60‑month range kr 31.37 – kr 69.86 · fair‑value band kr 9.68 – kr 16.13 · the kr 41.58 price screens above the kr 12.91 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 18, 2026.

Full chart & analysis →

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Analysis

Lerøy Seafood Group (LSG) currently trades at kr 41.58, while our model-based Fair Value estimate is kr 12.91, implying the stock looks roughly 69.0% overvalued today. The Quality Score stands at 59/100 (solid quality), in the Consumer Defensive sector. Bear case: priced above our estimate, the market already discounts strong expectations. Bull case: above-average quality can justify a premium, the entry price still matters most (evidence: high).

Over the trailing twelve months, Lerøy Seafood Group generated revenue of 34.5B NOK at a net margin of 3.0%. Revenue grew 1.7% year over year. It earns a return on equity of 5.3%. Net debt stands at 6.9B NOK. Fundamentals as of Jul 18, 2026

Our scenario range runs from kr 9.68 (bear case) to kr 16.13 (bull case); at kr 41.58, the current price sits above that range. Bear and bull are the same models run on conservative and optimistic assumptions (margins, growth, valuation multiples), so a plausible valuation range, not a price target. 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 16% below its 52-week high and 2% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at -3% fair-value upside, at -69%, LSG screens richer than that median.

Fair Value models

Each model estimates fair value its own way; the Fair Value above is the evidence-weighted blend. Evidence (0–100) measures how completely this model’s inputs are available: well-fed models carry more weight in the blend. The spread across models is intentional, each one stresses a different value driver; dividend models, for instance, come out structurally low when payout is small.

Model BearBaseBull Evidence
Highest evidence
Growth DCF kr 49.51 kr 86.78 kr 148.43 80
Residual Income kr 22.36 kr 21.54 kr 17.12 76
Rev-Margin DCF kr 24.02 kr 37.82 kr 55.34 74
All 26 models by family
DCF Models
FCF DCF kr 49.57 kr 89.22 kr 156.01 38
Owner Earnings kr 10.84 kr 21.69 kr 39.97 31
5Y Revenue Exit kr 24.02 kr 37.43 kr 54.37 39
5Y EBITDA Exit kr 43.22 kr 76.08 kr 116.29 41
5Y P/E Exit kr 19.65 kr 28.64 kr 38.01 38
10Y Revenue Exit kr 31.80 kr 47.13 kr 68.19 36
10Y EBITDA Exit kr 44.93 kr 75.07 kr 118.85 37
10Y P/E Exit kr 29.46 kr 40.77 kr 54.81 35
Earnings-Based
Graham-Dodd kr 4.18 kr 17.79 kr 24.29 54
Lynch FV kr 4.54 kr 6.48 kr 8.43 50
PEG = 1.0 kr 4.54 kr 6.48 kr 8.43 46
EPV kr 4.44 kr 5.80 kr 7.00 59
Dividend Discount
Gordon GGM kr 23.10 kr 48.03 kr 76.20 70
DDM Multi-Stage kr 23.10 kr 40.50 kr 50.41 61
Multiples
P/E Multiple kr 9.68 kr 12.91 kr 16.13 63
P/S Multiple kr 7.84 kr 10.45 kr 13.06 58
P/B Multiple kr 7.84 kr 10.45 kr 13.06 55
EV/EBIT kr 18.19 kr 25.51 kr 32.82 53
EV/EBITDA kr 44.26 kr 60.27 kr 76.27 54
EV/Revenue kr 11.90 kr 18.62 kr 25.33 43
Asset-Based
NCAV (Graham) kr 15.78 kr 21.15 kr 31.57 50
Growth DCF
Growth DCF kr 49.51 kr 86.78 kr 148.43 80
Rev-Margin DCF kr 24.02 kr 37.82 kr 55.34 74
Economic Profit
Residual Income kr 22.36 kr 21.54 kr 17.12 76
ROIC Compounder kr 4.44 kr 5.80 kr 7.00 72
Growth Earnings
Growth-Adj P/E kr 7.64 kr 10.92 kr 14.20 68

Widest divergence: DCF Models (kr 40.77) versus Economic Profit (kr 5.80). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 34.5B NOK
Revenue growth (YoY) +1.7%
Net margin 3.0%
Return on equity 5.3%
Free cash flow 2.5B NOK FY2025
P/E ratio 23.6
More key figures
Operating margin 6.8%
EPS (TTM) kr 1.73
Dividend yield 5.7%
EPS growth (YoY) -89.4%
Net debt 6.9B NOK FY2025

Figures from reported company fundamentals · as of Jul 18, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 59/100

Of which business quality 57 · Market factors (momentum, volatility) 49

Profitability 37
Margins and returns on capital today
Quality Growth 47
Are margins and returns improving?
Cashflow 59
Earnings quality: real cash, not paper profit
Fin. Strength 47
Balance sheet, leverage, solvency risk
Investment 90
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 33
Price trend over the last 3–12 months (market factor)
52W Momentum 30
Distance to the 52-week high (market factor)
Net Issuance 82
Buybacks instead of dilution

Non-valuation factor families (profitability, growth, cashflow, financial strength, momentum …), each academically grounded. Valuation itself sits in the Fair Value and is deliberately excluded here to avoid double-counting.

About the company

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. It offers salmon and trout, whole fish, fillets, portions, smoked, graved, block, cured, ready-to-eat, and ready-to-cook products.

Full company description

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. 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.

Company description, as reported by the company or data provider.

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Lerøy Seafood Group reported revenue of kr 34.4B in FY2025 versus kr 23.1B in FY2021, a compound +10.5%/yr. Reported net income was kr 366M in FY2025, compounding −38.9%/yr from FY2021.

Growth Quality 79/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
34.4B NOK
Latest YoY
+10.4%
Avg. growth/yr (3Y)
+8.8%
Avg. growth/yr (5Y)
+11.5%
Avg. growth/yr (25Y)
+10.7%
Revenue +10.5%/yr
FY21 kr 23.1B
FY22 kr 26.6B
FY23 kr 30.9B
FY24 kr 31.1B
FY25 kr 34.4B
Net income −38.9%/yr
FY21 kr 2.6B
FY22 kr 2.9B
FY23 kr 273M
FY24 kr 2.7B
FY25 kr 366M

LSG screens 69% overvalued. Compare with Nestlé India Limited →

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Cite: Fair Value Calculator (2026). "Lerøy Seafood Group Fair Value". https://www.fairvalue-calculator.com/stock/LSG

Peer Group

Packaged Foods · 653 stocks

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.

Quality Score 59 · Above median
Fair Value upside −69% · Bottom 25%
Return on equity (TTM) 5% · Below median
Return on assets 4% · Below median
Net margin (TTM) 3% · Below median
Operating margin (TTM) 7% · Above median
Revenue growth 2% · Below median
Dividend yield (TTM) 6.2% · Top 25%
Debt / equity 0.26× · Higher than median

Valuation Multiples vs Packaged Foods median · lower = cheaper

P/E (TTM) 23.6× · Pricier than median
P/B 1.29× · Cheaper than median
P/S (TTM) 0.70× · Pricier than median
P/FCF 1.0× · Cheaper than median
EV/EBITDA 7.5× · Cheaper than median
PEG 1.75× · Pricier than median

Snowflake

Five quick dimensions, each 0 to 100: VALUE (fair-value potential), FUTURE (revenue growth), PAST (return on equity), HEALTH (low debt), DIVIDEND (yield). Green = this stock, grey = typical sector peer.

VALUE 0 · sector 29
FUTURE 9 · sector 19
PAST 21 · sector 27
HEALTH 87 · sector 96
DIVIDEND 100 · sector 47

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

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

ESG scores are not available for this stock yet. Values and ESG data are contextual and can differ between providers.

Similar stocks

10 more Packaged Foods stocks, each showing price versus our Fair Value estimate (as of Jul 18, 2026).

Stock Price Fair Value vs Fair Value
Nestlé India Limited NESTLEIND ₹1,427 ₹362.37 -75%
Britannia Industries Limited BRITANNIA ₹5,413 ₹1,870 -65%
Tata Consumer Products Limited TATACONSUM ₹1,089 ₹327.27 -70%
PT Indofood CBP Sukses Makmur Tbk ICBP 6,650 IDR 15,757 IDR +137%
Samyang Foods Co 003230 1,139,000 KRW 1,010,543 KRW -11%
Patanjali Foods Limited PATANJALI ₹413.80 ₹157.04 -62%
Vietnam Dairy Products Joint Stock Company VNM 58,500 VND 68,259 VND +17%
PT Mayora Indah Tbk, MYOR 1,750 IDR 2,699 IDR +54%
PT Cisarua Mountain Dairy Tbk CMRY 4,490 IDR 4,355 IDR -3%
Nongshim Co 004370 348,500 KRW 530,619 KRW +52%

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Frequently asked questions

Is Lerøy Seafood Group (LSG) overvalued or undervalued?
As of Jul 18, 2026, our model estimates a fair value of kr 12.91 versus a price of kr 41.58, about −69% (overvalued).
What is the fair value of LSG?
Our model-based fair value for Lerøy Seafood Group is kr 12.91 (as of Jul 18, 2026), built from audited fundamentals. The current price is kr 41.58.
What is the quality score of LSG?
Lerøy Seafood Group has a Quality Score of 59/100. 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 revenue of Lerøy Seafood Group (LSG)?
Lerøy Seafood Group reported trailing-twelve-month revenue of about 34.5B NOK (latest available figure, as of Jul 18, 2026).
What is the net profit margin of LSG?
The net profit margin of Lerøy Seafood Group is about 3.0%, meaning it keeps roughly 3.0% of revenue as net income. Based on the latest reported figures.
Does Lerøy Seafood Group pay a dividend?
Lerøy Seafood Group currently shows a dividend yield of about 5.71% relative to its recent price (as of Jul 18, 2026).

How we calculate Fair Value

Each company is valued through a stack of independent intrinsic-value models (DCF variants, residual-income, multiples and more), blended into one family-balanced consensus and weighted by how much trustworthy data backs it. A separate quality layer scores the fundamentals. Every input is real reported data, nothing guessed.

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