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Mowi ASA (MOWI) Fair Value & Analysis

Consumer Defensive · NO · Market cap 97.9B NOK

MA Mowi ASA MOWI · OL
Pricekr 198.00
Fair Valuekr 262.59
Upside+32.6%
Quality53/100
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Healthy Growth
Solidly profitable · 14.3% net margin
Moderate debt · generates free cash flow
0.31% dividend yield
Mixed vs. peers (8/15)
Moderate moat 61/100
Evidence: High Range kr 123.92 – kr 395.67 Share as image

Fair value as of: Jul 15, 2026

From 26 valuation models · updated 23 days ago

Fair value updated Jul 15, 2026, revised from kr 23.71 to kr 262.59 (+1,007.5%) since Jun 24, 2026. Share price +5.4% over the past month.

A solid business, screening 33% undervalued on our models.

What matters now

  • The model range is unusually wide (kr 123.92 to kr 395.67). The outcome hinges heavily on assumptions, so read the point estimate with caution.
  • Solid quality (53/100) at a price below fair value, the discount is the argument here, not the business quality.
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Price vs Fair Value (5 years)

kr 239.85 kr 116.78 Fair Value kr 262.59 May 2021 Aug 2026

White line = price, green steps = our fair value per fiscal year, dashed = 300-day average. As of Jul 15, 2026.

How to read this chart

60‑month range kr 116.78 – kr 239.85 · fair‑value band kr 123.92 – kr 395.67 · the kr 198.00 price screens below the kr 262.59 fair value. Green steps = our fair value per fiscal year (point-in-time, no hindsight). Dashed = 300-day average. As of Jul 15, 2026.

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Analysis

Mowi ASA (MOWI) currently trades at kr 198.00, while our model-based Fair Value estimate is kr 262.59, implying the stock looks roughly 32.6% undervalued today. We read business quality at 53/100 (solid quality), in the Consumer Defensive sector. Bull case: trading below our estimate, it may offer upside if the fundamentals hold. Bear case: a low price can be a value trap when quality is weak or the data is thin (evidence: high), always confirm before acting.

Over the trailing twelve months, Mowi ASA generated revenue of 5.9B NOK at a net margin of 14.3%. Revenue grew 14.1% year over year. It earns a return on equity of 19.5%. Net debt stands at 2.7B NOK. Fundamentals as of Jul 15, 2026

Our scenario range runs from kr 123.92 (bear case) to kr 395.67 (bull case); at kr 198.00, the current price sits within 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 share trades about 18% below its 52-week high and 12% above its 52-week low, currently below its 200-day average. For context, the median of 10 Consumer Defensive peers we cover trades at 102% fair-value upside, at 33%, MOWI 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 84.32 kr 181.36 kr 340.24 80
Residual Income kr 110.62 kr 142.96 kr 399.87 76
Rev-Margin DCF kr 122.22 kr 258.89 kr 428.27 74
All 26 models by family
DCF Models
FCF DCF kr 84.20 kr 186.29 kr 356.05 38
Owner Earnings kr 186.66 kr 362.22 kr 653.94 31
5Y Revenue Exit kr 122.22 kr 262.59 kr 451.11 39
5Y EBITDA Exit kr 193.08 kr 403.58 kr 663.82 41
5Y P/E Exit kr 142.34 kr 302.59 kr 481.48 38
10Y Revenue Exit kr 101.11 kr 228.89 kr 419.26 36
10Y EBITDA Exit kr 154.07 kr 330.24 kr 591.60 37
10Y P/E Exit kr 120.86 kr 257.65 kr 443.82 35
Earnings-Based
Graham-Dodd kr 114.32 kr 468.14 kr 637.52 54
Lynch FV kr 117.53 kr 167.90 kr 218.27 50
PEG = 1.0 kr 117.53 kr 167.90 kr 218.27 46
EPV kr 120.62 kr 150.49 kr 176.66 59
Dividend Discount
Gordon GGM kr 63.95 kr 132.84 kr 210.74 70
DDM Multi-Stage kr 63.95 kr 111.97 kr 139.38 61
Multiples
P/E Multiple kr 252.22 kr 336.17 kr 420.24 63
P/S Multiple kr 214.32 kr 285.80 kr 357.28 58
P/B Multiple kr 214.32 kr 285.80 kr 357.28 55
EV/EBIT kr 245.06 kr 346.29 kr 447.40 53
EV/EBITDA kr 276.79 kr 388.51 kr 500.24 54
EV/Revenue kr 146.05 kr 233.82 kr 321.48 43
Asset-Based
NCAV (Graham) kr 51.11 kr 68.52 kr 102.34 50
Growth DCF
Growth DCF kr 84.32 kr 181.36 kr 340.24 80
Rev-Margin DCF kr 122.22 kr 258.89 kr 428.27 74
Economic Profit
Residual Income kr 110.62 kr 142.96 kr 399.87 76
ROIC Compounder kr 128.27 kr 190.62 kr 278.15 72
Growth Earnings
Growth-Adj P/E kr 197.53 kr 282.22 kr 366.91 68

Widest divergence: Multiples (kr 285.80) versus Asset-Based (kr 68.52). Highest evidence: Growth DCF (80).

Key figures & financial health

Revenue (TTM) 5.9B NOK
Revenue growth (YoY) +14.1%
Net margin 14.3%
Return on equity 19.5%
Free cash flow 495M NOK FY2025
P/E ratio 10.0
More key figures
Operating margin 14.5%
EPS (TTM) kr 18.48
Dividend yield 0.3%
EPS growth (YoY) +480%
Net debt 2.7B NOK FY2025

Figures from reported company fundamentals · as of Jul 15, 2026. TTM = trailing twelve months.

Quality Score breakdown

Overall quality 53/100

Of which business quality 52 · Market factors (momentum, volatility) 52

Profitability 51
Margins and returns on capital today
Quality Growth 31
Are margins and returns improving?
Cashflow 47
Earnings quality: real cash, not paper profit
Fin. Strength 56
Balance sheet, leverage, solvency risk
Investment 61
Disciplined investing over empire-building
Low Volatility 89
Calm price path (market factor)
Momentum 36
Price trend over the last 3–12 months (market factor)
52W Momentum 35
Distance to the 52-week high (market factor)
Net Issuance 69
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

Mowi ASA, a seafood company, produces and sells Atlantic salmon products worldwide. It operates through Feed, Farming, Markets, Consumer Products, and other segments. The company is involved in salmon feed production, salmon farming and primary processing, and seafood secondary processing activities.

Full company description

Mowi ASA, a seafood company, produces and sells Atlantic salmon products worldwide. It operates through Feed, Farming, Markets, Consumer Products, and other segments. The company is involved in salmon feed production, salmon farming and primary processing, and seafood secondary processing activities. It offers whole fish, plain and marinated fillets and steaks, hot- and cold-smoked salmon, and burgers and patties, as well as breaded, gravad, and sushi products. The company was formerly known as Marine Harvest ASA and changed its name to Mowi ASA in December 2018. Mowi ASA was founded in 1964 and is based in Bergen, Norway.

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

Revenue & earnings trend

FY2021 – FY2025 · reported fiscal years

Mowi ASA reported revenue of kr 5.7B in FY2025 versus kr 4.2B in FY2021, a compound +8.2%/yr. Reported net income was kr 718M in FY2025, compounding +10.2%/yr from FY2021.

Growth Quality 88/100
Revenue growth appears healthy and is supported by profitability and cash-flow quality.
Latest Revenue (FY 2025)
5.7B NOK
Latest YoY
+2.1%
Avg. growth/yr (3Y)
+5.2%
Avg. growth/yr (5Y)
+8.9%
Avg. growth/yr (24Y)
+11.2%
Revenue +8.2%/yr
FY21 kr 4.2B
FY22 kr 4.9B
FY23 kr 5.5B
FY24 kr 5.6B
FY25 kr 5.7B
Net income +10.2%/yr
FY21 kr 488M
FY22 kr 782M
FY23 kr 444M
FY24 kr 469M
FY25 kr 718M

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Cite: Fair Value Calculator (2026). "Mowi ASA Fair Value". https://www.fairvalue-calculator.com/stock/MOWI

Earlier news

External third-party headlines (Yahoo Finance, Reuters and others), not an editorial selection.

Peer Group

Farm Products · 293 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 53 · Above median
Fair Value upside +33% · Above median
Return on equity (TTM) 19% · Top 25%
Return on assets 5% · Above median
Net margin (TTM) 14% · Top 25%
Operating margin (TTM) 14% · Top 25%
Revenue growth 14% · Above median
Dividend yield (TTM) 0.3% · Below median
Debt / equity 0.64× · Higher than 75% of peers

Valuation Multiples vs Farm Products median · lower = cheaper

P/E (TTM) 10.0× · Cheaper than median
P/B 2.35× · Pricier than 75% of peers
P/S (TTM) 1.74× · Pricier than 75% of peers
P/FCF 20.8× · Pricier than 75% of peers
EV/EBITDA 12.2× · Pricier than 75% of peers
PEG 1.50× · 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 77 · sector 28
FUTURE 71 · sector 24
PAST 78 · sector 16
HEALTH 68 · sector 94
DIVIDEND 6 · sector 39

Insider activity: 40/100

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 Farm Products stocks, each showing price versus our Fair Value estimate (as of Jul 15, 2026).

Stock Price Fair Value vs Fair Value
Muyuan Foods Group 002714 ¥40.90 ¥48.19 +18%
Wens Foodstuff Group 300498 ¥14.51 ¥12.08 -17%
PT Charoen Pokphand Indonesia Tbk, CPIN 3,120 IDR 7,076 IDR +127%
Charoen Pokphand Foods Public Company CPF 22.00 THB 55.71 THB +153%
PT Triputra Agro Persada Tbk TAPG 1,540 IDR 3,105 IDR +102%
PT FAP Agri Tbk FAPA 7,300 IDR 7,463 IDR +2%
PT Japfa Comfeed Indonesia Tbk JPFA 2,070 IDR 7,231 IDR +249%
Thaifoods Group TFGR 10.60 THB 23.53 THB +122%
PT Jhonlin Agro Raya Tbk JARR 1,845 IDR 610.80 IDR -67%
PT Nusantara Sawit Sejahtera Tbk NSSS 700.00 IDR 448.40 IDR -36%

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Frequently asked questions

Is Mowi ASA (MOWI) overvalued or undervalued?
As of Jul 15, 2026, our model estimates a fair value of kr 262.59 versus a price of kr 198.00, about +33% (undervalued).
What is the fair value of MOWI?
Our model-based fair value for Mowi ASA is kr 262.59 (as of Jul 15, 2026), built from audited fundamentals. The current price is kr 198.00.
What is the quality score of MOWI?
Mowi ASA has a Quality Score of 53/100. It combines two groups: business quality (profitability, growth, cash flow, balance-sheet strength) and market factors (price momentum, distance to the 52-week high, volatility). Both subtotals are shown separately in the detail view.
What is the revenue of Mowi ASA (MOWI)?
Mowi ASA reported trailing-twelve-month revenue of about 5.9B NOK (latest available figure, as of Jul 15, 2026).
What is the net profit margin of MOWI?
The net profit margin of Mowi ASA is about 14.3%, meaning it keeps roughly 14.3% of revenue as net income. Based on the latest reported figures.
Does Mowi ASA pay a dividend?
Mowi ASA currently shows a dividend yield of about 0.28% relative to its recent price (as of Jul 15, 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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