P/F Bakkafrost

OB:BAKKA Stock Report

Market Cap: NOK 28.4b

P/F Bakkafrost Valuation

Is BAKKA undervalued compared to its fair value, analyst forecasts and its price relative to the market?

Valuation Score

2/6

Valuation Score 2/6

  • Below Fair Value

  • Significantly Below Fair Value

  • Price-To-Earnings vs Peers

  • Price-To-Earnings vs Industry

  • Price-To-Earnings vs Fair Ratio

  • Analyst Forecast

Share Price vs Fair Value

What is the Fair Price of BAKKA when looking at its future cash flows? For this estimate we use a Discounted Cash Flow model.

NOK 8.13k
Fair Value
94.1% undervalued intrinsic discount
5
Number of Analysts

Below Fair Value: BAKKA (NOK480.8) is trading below our estimate of fair value (NOK8127.82)

Significantly Below Fair Value: BAKKA is trading below fair value by more than 20%.

Key Valuation Metric

Which metric is best to use when looking at relative valuation for BAKKA?

Key metric: As BAKKA is profitable we use its Price-To-Earnings Ratio for relative valuation analysis.

The above table shows the Price to Earnings ratio for BAKKA. This is calculated by dividing BAKKA's market cap by their current earnings.
What is BAKKA's PE Ratio?
PE Ratio79.2x
EarningsDKK 228.21m
Market CapDKK 18.08b

Price to Earnings Ratio vs Peers

How does BAKKA's PE Ratio compare to its peers?

The above table shows the PE ratio for BAKKA vs its peers. Here we also display the market cap and forecasted growth for additional consideration.
CompanyForward PEEstimated GrowthMarket Cap
Peer Average32.5x
LSG Lerøy Seafood Group
23.5x49.03%NOK 30.4b
AUSS Austevoll Seafood
15.2x40.76%NOK 20.1b
SALM SalMar
73.7x61.58%NOK 83.3b
ORK Orkla
17.7x-2.07%NOK 105.5b
BAKKA P/F Bakkafrost
79.2x76.49%NOK 28.4b

Price-To-Earnings vs Peers: BAKKA is expensive based on its Price-To-Earnings Ratio (79.2x) compared to the peer average (32.5x).

Price to Earnings Ratio vs Industry

How does BAKKA's PE Ratio compare vs other companies in the European Food Industry?

4 CompaniesPrice / EarningsEstimated GrowthMarket Cap
BAKKA 79.2xIndustry Avg. 15.7xNo. of Companies19PE01224364860+
4 CompaniesEstimated GrowthMarket Cap
No more companies

Price-To-Earnings vs Industry: BAKKA is expensive based on its Price-To-Earnings Ratio (79.2x) compared to the European Food industry average (15.7x).

Price to Earnings Ratio vs Fair Ratio

What is BAKKA's PE Ratio compared to its Fair PE Ratio? This is the expected PE Ratio taking into account the company's forecast earnings growth, profit margins and other risk factors.

BAKKA PE Ratio vs Fair Ratio.
Fair Ratio
Current PE Ratio79.2x
Fair PE Ratio68x

Price-To-Earnings vs Fair Ratio: BAKKA is expensive based on its Price-To-Earnings Ratio (79.2x) compared to the estimated Fair Price-To-Earnings Ratio (68x).

Analyst Price Targets

What is the analyst 12-month forecast and do we have any statistical confidence in the consensus price target?

The above table shows the analyst BAKKA forecast and predictions for the stock price in 12 month’s time.
DateShare PriceAverage 1Y Price TargetDispersionHighLow1Y Actual priceAnalysts
CurrentNOK 480.80
NOK 495.43
+3.04%
9.66%NOK 548.70NOK 414.45n/a5
Oct ’26NOK 470.20
NOK 481.86
+2.48%
8.47%NOK 528.73NOK 415.45n/a5
Sep ’26NOK 436.20
NOK 492.01
+12.79%
11.07%NOK 578.05NOK 415.76n/a5
Aug ’26NOK 420.00
NOK 594.16
+41.47%
3.69%NOK 627.01NOK 565.64n/a6
Jul ’26NOK 453.00
NOK 589.14
+30.05%
4.28%NOK 627.45NOK 558.38n/a6
Jun ’26NOK 475.00
NOK 573.35
+20.71%
8.31%NOK 656.50NOK 488.55n/a7
May ’26NOK 521.50
NOK 626.28
+20.09%
14.55%NOK 781.97NOK 499.69n/a6
Apr ’26NOK 490.80
NOK 661.89
+34.86%
8.18%NOK 726.05NOK 570.76n/a6
Mar ’26NOK 566.00
NOK 688.85
+21.70%
6.19%NOK 751.88NOK 621.55n/a6
Feb ’26NOK 646.50
NOK 727.89
+12.59%
6.09%NOK 790.29NOK 665.02n/a7
Jan ’26NOK 634.00
NOK 728.31
+14.88%
6.11%NOK 787.96NOK 664.73n/a7
Dec ’25NOK 652.50
NOK 726.68
+11.37%
6.22%NOK 786.76NOK 660.09n/a7
Nov ’25NOK 660.00
NOK 725.93
+9.99%
6.83%NOK 804.42NOK 658.88n/a7
Oct ’25NOK 624.00
NOK 707.75
+13.42%
7.74%NOK 791.44NOK 633.15NOK 470.206
Sep ’25NOK 574.50
NOK 712.01
+23.94%
9.65%NOK 794.53NOK 620.58NOK 436.206
Aug ’25NOK 566.00
NOK 726.54
+28.36%
10.13%NOK 806.80NOK 624.14NOK 420.006
Jul ’25NOK 543.00
NOK 706.01
+30.02%
11.55%NOK 802.96NOK 600.86NOK 453.006
Jun ’25NOK 577.00
NOK 702.49
+21.75%
11.33%NOK 800.62NOK 600.66NOK 475.006
May ’25NOK 679.00
NOK 708.12
+4.29%
14.11%NOK 812.70NOK 561.32NOK 521.506
Apr ’25NOK 697.00
NOK 689.18
-1.12%
11.98%NOK 794.40NOK 563.31NOK 490.807
Mar ’25NOK 664.00
NOK 648.50
-2.33%
12.49%NOK 779.75NOK 552.92NOK 566.007
Feb ’25NOK 588.50
NOK 580.71
-1.32%
13.10%NOK 697.79NOK 499.33NOK 646.507
Jan ’25NOK 532.00
NOK 534.96
+0.56%
12.38%NOK 687.87NOK 473.24NOK 634.007
Dec ’24NOK 525.00
NOK 556.81
+6.06%
13.03%NOK 721.60NOK 494.25NOK 652.507
Nov ’24NOK 509.50
NOK 580.73
+13.98%
16.55%NOK 810.65NOK 499.08NOK 660.007
Oct ’24NOK 547.50
NOK 600.14
+9.61%
12.29%NOK 748.75NOK 526.12NOK 624.006
NOK 495.43
Fair Value
3.0% undervalued intrinsic discount
5
Number of Analysts

Analyst Forecast: Target price is less than 20% higher than the current share price.

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Company Analysis and Financial Data Status

DataLast Updated (UTC time)
Company Analysis2025/10/17 00:30
End of Day Share Price 2025/10/17 00:00
Earnings2025/06/30
Annual Earnings2024/12/31

Data Sources

The data used in our company analysis is from S&P Global Market Intelligence LLC. The following data is used in our analysis model to generate this report. Data is normalised which can introduce a delay from the source being available.

PackageDataTimeframeExample US Source *
Company Financials10 years
  • Income statement
  • Cash flow statement
  • Balance sheet
Analyst Consensus Estimates+3 years
  • Forecast financials
  • Analyst price targets
Market Prices30 years
  • Stock prices
  • Dividends, Splits and Actions
Ownership10 years
  • Top shareholders
  • Insider trading
Management10 years
  • Leadership team
  • Board of directors
Key Developments10 years
  • Company announcements

* Example for US securities, for non-US equivalent regulatory forms and sources are used.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more.

Analysis Model and Snowflake

Details of the analysis model used to generate this report is available on our Github page, we also have guides on how to use our reports and tutorials on Youtube.

Learn about the world class team who designed and built the Simply Wall St analysis model.

Industry and Sector Metrics

Our industry and section metrics are calculated every 6 hours by Simply Wall St, details of our process are available on Github.

Analyst Sources

P/F Bakkafrost is covered by 11 analysts. 6 of those analysts submitted the estimates of revenue or earnings used as inputs to our report. Analysts submissions are updated throughout the day.

AnalystInstitution
null nullABG Sundal Collier
Alexander JonesBofA Global Research
Niklas EkmanCarnegie Investment Bank AB