1. Norway Stocks

  2. •

    Consumer Defensive

  3. •

    Agricultural Farm Products
Mowi ASA

Mowi ASA

MOWI.OL
Mowi ASANO flagOslo Stock Exchange
197.40
NOK
-1.10
- -
104.09BMarket Cap
Mowi ASA
MOWI.OL
(Oslo Stock Exchange)

Recent

price

197.40

P/E

ratio

- -

div

yld

- -

ROIC.AI

2010
2011
2012
2013
2014
2015
2016
2017
2018
2019
2020
2021
2022
2023
2024
2025
TTM
FRC
5.47
5.69
5.82
6.05
7.37
7.02
7.78
7.63
7.59
7.89
7.22
8.06
9.49
10.59
10.76
10.96
11.3
Revenue per Share
1.1
0.4
0.15
0.79
0.27
0.36
1.2
0.97
1.15
0.92
0.23
0.94
1.51
0.86
0.91
1.38
1.62
Basic EPS, GAAP
0.57
0.63
0.31
0.02
0.64
0.04
1.07
0.79
0.56
0.9
0.36
1.14
0.6
1.15
1.05
0.95
0.84
Free Cash Flow per Basic Share
0.76
1.04
- -
0.26
0.99
0.54
0.93
- -
1.08
1.06
0.26
0.44
0.74
0.63
0.57
0.57
0.53
Dividend per Share
3.55
0.97
1.06
0.97
0.84
0.8
0.78
0.81
0.82
0.78
0.78
0.78
0.78
0.78
0.78
0.79
0.79
Book Value per Share
1.75
1.08
1.52
2.44
1.53
1.96
2.23
2.98
3.61
3.28
3
3.6
4.05
4.14
4.59
3.53
3.66
Tangible Book Value per Share
357
358
359
378
410
441
450
476
494
516
517
517
517
517
517
519
523
Basic Weighted Avg Shares
1,954
2,037
2,088
2,284
3,026
3,093
3,503
3,626
3,750
4,074
3,732
4,166
4,907
5,478
5,566
5,689
5,910
Sales/Revenue/Turnover
27.93
28.92
15.94
47.85
36.55
11.04
27.14
15.37
23.78
14.59
5.42
15.18
21.8
18.21
14.97
11.19
13.7
Operating Margin (%)
84
95
92
91
116
140
142
150
153
287
338
373
387
404
448
454
461
Depreciation Expense
394
144
55
299
112
158
540
462
567
478
118
488
782
444
468
718
847
Net Income, GAAP
26.9
18.92
47.71
29.7
50.56
36.63
28.96
11.46
22.53
21.6
1.16
17.78
21.53
51.1
24.84
15.11
16.53
Effective Tax Rate (%)
20.14
7.08
2.65
13.11
3.7
5.11
15.4
12.75
15.11
11.72
3.15
11.7
15.94
8.11
8.42
12.62
14.33
Profit Margin (%)
1,022
901
868
1,440
1,407
1,445
1,711
1,359
1,888
1,853
1,789
1,744
2,000
2,715
2,700
2,839
2,940
Working Capital
653
855
768
918
1,189
1,071
993
774
1,142
1,725
1,946
1,695
2,015
2,392
2,296
3,134
3,199
LT Debt
1,608
1,401
1,583
1,946
1,640
1,896
2,069
2,315
2,879
2,893
2,764
3,131
3,687
3,755
4,006
4,565
4,720
Total Equity
18.39
20.66
7.37
28.42
18.55
7.26
21.48
15.05
18.44
10.33
4.09
10.39
14.46
7.48
9.32
7.12
9.15
Return on Invested Capital (%)
21.15
11.56
6.72
27.32
9.89
12.68
41.46
38.21
42.62
28.06
7.49
22.38
31.15
16.5
17.87
22.96
26.34
Return on Capital (%)
29.51
17.86
15.2
80.16
31.55
45.54
153.38
125.75
143.84
118.1
29.03
120.45
193.28
109.78
115.74
175.91
207.57
Return on Common Equity (%)

Capital Structure

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
ST Debt
338
329
342
LT Borrowings
1,744
2,790
2,845
LT Finance Leases
367
344
354
Preferred Equity and Hybrid Capital
- -
- -
- -
Shares Outstanding
517
527
527
Market Capitalization
9,117
10,530
10,255

Working Capital

FRC

•

in mil. unless spec.
Sep'25
Dec'25
Mar'26
Total Current Assets
3,673
4,310
4,311
Cash, Cash Equivalents & STI
133
278
222
Accounts Receivable, Net
899
717
1,170
Inventories
2,641
2,944
2,918
Total Current Liabilities
1,362
1,471
1,370
Payables & Accruals
- -
- -
- -
ST Debt
338
329
342
Deferred Revenue
- -
- -
- -

Growth Rates

FRC

•

in mil. unless spec.

(avg. rate of change)

10 years
5 years
1 year
Total Equity
9.5%
10.7%
13.97%
Free Cash Flow
285.51%
48.43%
-8.79%
Net Income, GAAP
54.91%
78.18%
53.23%
Sales/Revenue/Turnover
6.53%
8.97%
2.2%
Total Cash Common Dividend
- -
23.08%
1.26%

Quarterly Revenue

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
1,328
1,334
1,442
1,500
5,566
2025
1,353
1,393
1,390
1,584
5,689
2026
1,543
- -
- -
- -
- -

Quarterly Earnings Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.32
0.07
0.09
0.42
0.91
2025
0.05
0.09
- -
1.02
1.38
2026
0.29
- -
- -
- -
- -

Quarterly Dividends Per Share

FRC

•

in mil. unless spec.

Year

Q1
Q2
Q3
Q4
FY
2024
0.17
0.13
0.14
0.13
0.57
2025
0.18
0.15
- -
0.13
0.57
2026
0.13
- -
- -
- -
- -
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Business
Mowi ASA Mowi ASA produces and supplies Atlantic salmon and other seafood products worldwide as the largest producer of farm-raised salmon by volume and revenue. The fully integrated company operates across the value chain, including salmon genetics, feed production, freshwater and seawater farming, primary and secondary processing, and sales and marketing to retail, Horeca, and industry segments in over 70 countries; its core offerings encompass whole fish, plain or marinated fillets and steaks, hot- and cold-smoked salmon, burgers, tartars, and value-added coated products from salmon and whitefish species. Headquartered in Bergen, Norway, and founded in 1964, Mowi ASA employs about 11,500 people across 26 countries with major farming and processing operations in Norway (its largest region), Scotland, Ireland, the Faroe Islands, Iceland, Canada, Chile, and the United States. The company provides approximately 8 million salmon-based meals daily and holds a global market share of around 20% in Atlantic salmon. In 2025, Mowi ASA completed the acquisition of a controlling 95% stake in Nova Sea AS, a leading salmon farmer in Northern Norway, for NOK 7.4 billion in a mix of cash and shares after receiving approvals from the EU Commission and Norwegian competition authorities; this strategically enhances its position in one of the world's best salmon farming regions, boosts expected 2025 harvest volumes to 597,000 tonnes (including 372,000 tonnes in Norway), and delivers preliminary annual synergies of NOK 400 million through improved capacity utilization, biological performance, and fish health.