olivLaw · European equity research
Austevoll Seafood ASA AUSS.OL
Norway · Euronext Oslo Børs · ISIN NO0010073489 · Vertical: Listed companies from Norway
Austevoll Seafood ASA is a Norwegian group holding interests in companies across the fishing and marine processing industry, described in its 2025 annual report as a diversified portfolio. Its relevance now lies in its governance structure and how it organises internal control and risk management across the portfolio.
At the close of 05 Nov 2026, Austevoll Seafood ASA (AUSS.OL) stock was 82.50 NOK (+0.00% on the day), with market capitalisation 16.7 bn NOK, P/E 37.2 on diluted EPS of 2.22 NOK over the last 12 months, dividend yield 7.88%, beta 0.30, 52-week range 77.50–105.40 NOK.
Data as of · AI analysis dated · Source: ESEF annual reports and closing prices, computed by olivLaw.
Price history
Loading chart…
Technical reading
- RSI (14)
- 50.7
- neutral
- Bollinger (20, 2)
- 80.56 – 83.75
- in the upper half of the band · %B 0.61 · band width 3.9%
- SMA 50 / 200
- 83.34 / 89.28
- downtrend (price < SMA50 < SMA200)
- MACD (12, 26, 9)
- -0.37 / -0.43
- MACD above signal
Indicators describe past prices; on their own they do not predict direction. On our history the RSI ≤ 40 filter added no return (see the signals methodology).
Performance
| Company | EURO STOXX 50 | vs EURO STOXX 50 | Vertical median | |
|---|---|---|---|---|
| 1 month | +0.1% | +0.4% | −0.3 pp | — |
| 3 months | −3.3% | −3.3% | −0.0 pp | — |
| 6 months | −9.5% | +4.0% | −13.5 pp | — |
| Year to date | −15.4% | +8.1% | −23.5 pp | — |
| 1 year | −10.2% | +10.7% | −20.9 pp | −4.5% |
| 3 years | +9.1% | +50.1% | −41.0 pp | +18.4% |
| 5 years | −25.6% | +43.6% | −69.2 pp | — |
Price returns, dividends excluded.
Quarterly results
ESEF annual reports carry no quarters: the results are annual (below).
E/P over time
E/P = trailing-12-month diluted EPS / price at quarter end. E/P is the inverse of P/E and stays defined when earnings are negative.
Today's P/E sits at the 33 percentile of its own 3-quarter history (min 7.2, median 43.9, max 51.1; quarters with earnings only).
Fiscal years
| Fiscal year | 2023 | 2024 | 2025 |
|---|---|---|---|
| Revenue | 33.7 bn | 35.4 bn | 39.3 bn |
| Revenue YoY | unavailable | +4.8% | +11.1% |
| Net income | 688.0 m | 2.7 bn | 449.0 m |
| Net income YoY | unavailable | +299.0% | −83.6% |
| Diluted EPS | 1.45 | 13.60 | 2.22 |
| Diluted EPS YoY | unavailable | +837.9% | −83.7% |
| net % | 2.0% | 7.8% | 1.1% |
| Free cash flow | unavailable | unavailable | unavailable |
Balance sheet & financial health
Fiscal year 2025 · 31 Dec 2025
- Cash
- 5.1 bn NOK
- Financial debt
- 7.1 bn NOK
- Net debt
- 2.0 bn NOK
- Equity
- 27.9 bn NOK
- Total assets
- 53.1 bn NOK
- Debt / equity
- 0.26x
- Current ratio
- 1.98x
- ROE
- 1.6%
- ROA
- 0.8%
- FCF margin
- unavailable
Financial statements (source on every figure)
Revenue and net income (NOK)
Margins
Income statement · NOK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Revenue | 33.7 bn | 35.4 bn | 39.3 bn | esef· 21 Oct 2026verified |
| Interest expense | 1.3 bn | 1.4 bn | 1.5 bn | esef· 21 Oct 2026verified |
| Pre-tax income | 2.8 bn | 5.0 bn | 851.0 m | esef· 21 Oct 2026verified |
| Income tax | 2.5 bn | 133.0 m | 163.0 m | esef· 21 Oct 2026verified |
| Net income | 688.0 m | 2.7 bn | 449.0 m | esef· 21 Oct 2026verified |
| Diluted EPS | 1.45 | 13.60 | 2.22 | esef· 21 Oct 2026verified |
| Dividend per share | 4.50 | 6.50 | 6.50 | esef· 21 Oct 2026verified |
Balance sheet · NOK
| Line | 2023 | 2024 | 2025 | Source (latest year) |
|---|---|---|---|---|
| Cash | 5.5 bn | 5.7 bn | 5.1 bn | esef· 21 Oct 2026verified |
| Current assets | 22.8 bn | 24.3 bn | 22.0 bn | esef· 21 Oct 2026verified |
| Goodwill | 2.4 bn | 2.3 bn | 2.3 bn | esef· 21 Oct 2026verified |
| Total assets | 53.0 bn | 55.6 bn | 53.1 bn | esef· 21 Oct 2026verified |
| Long-term debt | 8.9 bn | 8.6 bn | 7.1 bn | esef· 21 Oct 2026verified |
| Current liabilities | 8.8 bn | 9.6 bn | 11.1 bn | esef· 21 Oct 2026verified |
| Total liabilities | 25.9 bn | 26.0 bn | 25.2 bn | esef· 21 Oct 2026verified |
| Equity | 27.0 bn | 29.7 bn | 27.9 bn | esef· 21 Oct 2026verified |
| Shares outstanding at year end | 474.5 m | 201.8 m | 202.3 m | esef· 21 Oct 2026derived |
Cash flow · NOK
Computed indicators
Growth
Profitability
Returns
Balance sheet
Liquidity
Cash
Efficiency
Market and valuation
1 indicators that do not apply to the sector.
Valuation
olivLaw classification
- indicators available: 3 of at least 6
- score weight coverage: 20.8% of at least 60%
A scoring methodology on indicators and valuation, not investment advice.
Closing price
05 Nov 2026Source: olivLaw, closing series
Market cap: 16.7 bn NOK
Key indicators
Coverage and freshness
Score by group
21% · Insufficient data
Estimated value range
unavailable — no valuation assumptions for the reporting currency
Valuation assumptions are editorial choices, not measured; beta is not measured.
Valuation methods
Assumptions (illustrative, editorial)
- Risk-free rate
- 6.5%
- Equity risk premium
- 6.0%
- Beta (default)
- 1.00
- Cost of equity
- 12.5%
- Terminal growth
- 3.0%
Factor scorecard
Insufficient data
Minimum-evidence gate: indicators available: 3 of at least 6; score weight coverage: 20.8% of at least 60%
| Factor | Value | Score | Weight used |
|---|---|---|---|
| ROIC · Quality | unavailable | unavailable | — |
| Net margin · Quality | 1.1% | 37 (vs peers) | 30% |
| FCF conversion · Quality | unavailable | unavailable | — |
| Revenue CAGR 3Y · Growth | unavailable | unavailable | — |
| EPS CAGR 3Y · Growth | unavailable | unavailable | — |
| Net debt / EBITDA · Balance sheet | unavailable | unavailable | — |
| Interest coverage · Balance sheet | unavailable | unavailable | — |
| Current ratio · Balance sheet | 2.0x | 99 (on a fixed band) | 20% |
| P/E (TTM) · Valuation | 37.2x | 16 (vs peers) | 50% |
| EV/EBITDA · Valuation | unavailable | unavailable | — |
| FCF yield · Valuation | unavailable | unavailable | — |
| Shareholder yield (distributions) · Returns | unavailable | unavailable | — |
| Payout ratio (FCF) · Returns | unavailable | unavailable | — |
Factors without a value were dropped; the remaining weights were renormalised.
Score groups
- Balance sheet· partial99/100 · 1/3 factors with a value
- Growth· partialunavailable · 0/2 factors with a value
- Quality· partial37/100 · 1/3 factors with a value
- Returns· partialunavailable · 0/2 factors with a value
- Valuation· partial16/100 · 1/3 factors with a value
A «partial» group is computed from under half of its weight or from one factor: it is not a full assessment of the group.
Memo
AUSTEVOLL SEAFOOD ASA (AUSS.OL). Latest full fiscal year: 2025; data up to 2025-12-31.
Figures computed from the financial statements: revenue 39.3 bn NOK in 2025; YoY growth 11.1%; net margin 1.1%; ROE 1.6%.
The estimated value range is 40.59–67.04 NOK per share (median of 2 methods, agreement: low); assumptions are illustrative. Against the central value of 51.25 NOK, the price of 82.50 NOK leaves a potential of -37.9% (value / price − 1) and a margin of safety of -61.0% (1 − price / value). The range is the median of the methods' low, central and high values, not a probability interval.
Insufficient data for a verdict (indicators available: 3 of at least 6; score weight coverage: 20.8% of at least 60%).
Text generated deterministically from the figures shown; no language model. Not investment advice.
What supports the thesis
- Current ratio: 2.0x
What contradicts it
- P/E (TTM): 37.2x
- The price is above the estimated value range
- The valuation methods diverge
Not assessed (insufficient data or a ratio without meaning): ROIC, FCF conversion, Revenue CAGR 3Y, EPS CAGR 3Y, Net debt / EBITDA, Interest coverage, EV/EBITDA, FCF yield, Shareholder yield (distributions), Payout ratio (FCF).
Versus the vertical median
Listed companies from Norway · same country · compared with 39 companies
Multiples and returns vs the median
Price rebased to 100 (monthly, 5 years)
Companies in the vertical
| Market cap | P/E | ROE | Net margin | Revenue YoY | 1A / 3A | |
|---|---|---|---|---|---|---|
| AKER.OLAker Asa | 80.8 bn | 20.6 | 7.9% | 21.4% | +42.5% | +38% / +61% |
| AFG.OLAf Gruppen Asa | 21.5 bn | 19.8 | 39.7% | 3.4% | +4.4% | +9% / +70% |
| ELK.OLElkem Asa | 19.0 bn | 38.9 | 1.9% | 2.7% | −15.7% | +8% / +71% |
| ATEA.OLAtea Asa | 18.7 bn | 21.7 | 19.7% | 2.3% | +8.1% | +13% / +38% |
| AKSO.OLAker Solutions Asa | 17.9 bn | 7.0 | 22.5% | 4.1% | +19.2% | +21% / −10% |
| AUSS.OLAustevoll Seafood Asa | 16.7 bn | 37.2 | 1.6% | 1.1% | +11.1% | −6% / +11% |
| BRG.OLBorregaard Asa | 15.5 bn | 24.9 | 11.4% | 8.0% | +1.3% | −18% / −10% |
| BONHR.OLBonheur ASA | 11.2 bn | 7.8 | 17.1% | 11.4% | −10.8% | +17% / +44% |
| AFK.OLArendals Fossekompani Asa | 10.3 bn | — | -2.3% | -3.1% | −14.9% | +39% / +30% |
| B2I.OLB2 Impact Asa | 8.8 bn | 14.3 | 11.0% | 16.4% | +2.6% | +40% / +238% |
| AKVA.OLAkva Group Asa | 5.8 bn | 31.3 | 13.7% | 4.2% | +24.4% | +74% / +153% |
| BOUV.OLBouvet Asa | 5.1 bn | 14.4 | 80.7% | 9.2% | −0.2% | −18% / −14% |
| ELMRA.OLElmera Group Asa | 5.1 bn | 32.0 | 10.5% | 1.3% | −0.9% | +32% / +98% |
| CLOUD.OLCloudberry Clean Energy Asa | 4.0 bn | 62.0 | 1.3% | 13.1% | +34.0% | −5% / +29% |
| ABG.OLAbg Sundal Collier Holding Asa | 3.7 bn | 10.8 | 34.9% | 16.8% | +12.4% | −12% / +22% |
| ANDF.OLAndfjord Salmon Group As | 2.2 bn | — | -5.7% | -12,770.4% | +328.9% | −17% / −9% |
| BMA.OLByggma Asa | 1.6 bn | — | -25.3% | -11.9% | −2.5% | +61% / +15% |
| APR.OLAppear Asa | 1.3 bn | 10.3 | 30.1% | 16.1% | +32.3% | −54% / unavailable |
| AZT.OLArcticzymes Technologies Asa | 1.1 bn | 110.5 | 2.9% | 8.6% | +7.9% | −7% / −47% |
| CAPSL.OLCapsol Technologies Asa | 868.8 m | — | -89.4% | -114.8% | −25.0% | −34% / −67% |
| BOR.OLBorgestad Asa | 553.2 m | 36.1 | 2.1% | 1.4% | −3.0% | −7% / +41% |
| ARR.OLArribatec Group Asa | 227.8 m | 4.6 | 22.1% | 9.3% | +15.7% | −35% / −56% |
| DELIA.OLDellia Group Asa | 72.9 m | 1.5 | 22.6% | 7.7% | +140.0% | −62% / unavailable |
| ABTEC.OLAqua Bio Technology Asa | 11.2 m | 0.1 | — | 7,297.7% | −87.2% | −82% / −97% |
| AGLX.OLAgilyx Asa | — | — | -182.4% | -12,189.3% | +20.3% | −41% / −41% |
1- and 3-year price returns: for AUSS.OL from daily closes (the same as the performance table), for the other companies from month-end closes.
olivLaw engine forecast
The world engine ran after the company's latest material disclosure. Probabilities are of TOUCHING a level within the horizon (not closing there) and sit next to the random walk (p_rw), the no-information benchmark.
The engine has no published run for this company yet.
Valuation scenarios (editable assumptions)
Illustrative scenarios
Illustrative: not forecasts and without probabilities. Each case is one coherent set of assumptions, computed on today's figures.
Estimated price (NOK)
| Estimated price | Bear | Base | Bull |
|---|---|---|---|
| 1 years | 52.02 Total return -35% · Per year -35% | 91.69 Total return 14% · Per year 14% | 137.74 Total return 71% · Per year 71% |
| 3 years | 57.45 Total return -23% · Per year -8% | 113.26 Total return 47% · Per year 14% | 185.79 Total return 138% · Per year 33% |
| 5 years | 63.45 Total return -11% · Per year -2% | 139.90 Total return 88% · Per year 13% | 250.60 Total return 229% · Per year 27% |
- Exit P/E± 28.31
- Net margin± 19.82
- Annual revenue growth± 15.30
- Annual dilution± 1.67
AI analysis
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
In brief
Austevoll Seafood ASA is a Norwegian group holding interests in companies across the fishing and marine processing industry, described in its 2025 annual report as a diversified portfolio. Its relevance now lies in its governance structure and how it organises internal control and risk management across the portfolio.
SWOT
Strengths
- The portfolio structure allows diversification across several positions in the marine value chain 1.
- The consolidated internal control and reporting system gives visibility over the portfolio companies 1.
- The existence of an audit committee and an independent external auditor supports the quality of financial reporting 1.
Weaknesses
- Deviations from board independence recommendations may limit the perceived independence of oversight 1.
- The relationship with the major shareholder and related-party transactions require careful procedures to avoid conflicts of interest 1.
- The complexity of the portfolio structure requires different forms of management, which may complicate coordination 1.
Opportunities
- The sustainability committee could open opportunities to improve long-term operating practices 1.
- Continued development of internal systems could reduce risks in the face of changing economic conditions 1.
- A more independent board could strengthen investor confidence if governance deviations are reduced 1.
Threats
Risks
- Relationship with the major shareholdermedium
Relations with principal shareholders may influence board decisions and related-party transactions, which calls for independent valuation procedures 1.
- Board independencemedium
Deviations from independence recommendations may affect perceptions of oversight quality, especially for decisions with significant impact 1.
- Internal control of reportinglow
If reporting systems in portfolio companies are not applied uniformly, consolidation at group level could become harder 1.
- Changing economic conditionsmedium
Economic changes may affect the results of portfolio companies, and the group must adapt its management systems 1.
- Compliance with inside information rulesmedium
Failure to follow inside information procedures could lead to sanctions and harm the group's reputation 1.
Investment thesis
What would need to be true (bull case)
- A portfolio spread across several positions in the marine value chain could reduce dependence on a single activity 1.
- The consolidated internal control and reporting system provides a solid basis for transparency if it is applied uniformly 1.
- The commitment to sustainability, backed by a dedicated committee, could support long-term value 1.
What would break the thesis
- Deviations from board independence recommendations could limit investor confidence in independent oversight 1.
- The major shareholder's influence over group decisions may create conflict-of-interest risks, even with valuation procedures in place 1.
- The complexity of the portfolio structure and changing economic conditions could make consistent performance harder to achieve 1.
What to watch
- Evolution of board independence and compliance with governance recommendations2026
- Results and objectives of the sustainability committee2027
- Valuation procedures applied to related-party transactionsnext 10-K
- How internal reporting systems adapt to changing economic conditions2027
Products, market & competition
AI-generatedAI-generated analysis (Claude) from cited public sources; it may contain errors. Not investment advice. As of 27 Oct 2026 · Model: claude-haiku-5-5.
The business
According to the 2025 annual report, the group operates as a portfolio of companies, each at a different position in the value chain, which requires differentiated management and follow-up 1. The Board of Directors oversees operations, internal control and strategy, while daily and weekly internal reports are consolidated monthly at group level 1. Portfolio companies keep their own financial functions adapted to their organisations 1.
The Board is chaired by a member who is also employed by a group head entity of the major shareholders, which makes the related-party transaction policy relevant 1. The Board has adopted instructions for related-party agreements, requiring an independent valuation for material transactions 1.
The audit committee, made up of two board members, oversees financial reporting, the external auditor and risk management, while the committee for social responsibility and sustainability pursues the company's goals in this area 1.
Segments
Portfolio of marine industry companies
The annual report describes the group's activity as varied, depending on each portfolio company's position in the value chain, without detailing segment figures in this extract 1.
Group reporting and internal control
The group consolidates the reports of its portfolio companies, and the group accountant reports to the CFO and checks reporting against uniform guidelines 1.
Market context
The available 2025 annual report extract does not contain data on the size of the global fishing and marine processing market, so market analysis remains limited to the context the company describes 1. Industry dynamics depend on economic conditions, which the group monitors through its internal reporting systems 1.
The regulatory framework for companies listed on Oslo Stock Exchange, including rules on inside information, shapes how the group communicates with investors 1.
Trends
- Adapting to changing economic conditionsmixed
The group states that internal management systems must be developed continuously to adapt to changing economic conditions, which could support a quick response to market pressures 1.
- Focus on sustainability and social responsibilitytailwind
The board has set up a dedicated committee for social responsibility and sustainability, which could influence long-term operational decisions 1.
- Governance and board independenceheadwind
The report notes deviations from the recommendation that most shareholder-elected members be independent of major shareholders and significant business relationships, which may draw investor attention 1.
- Regulation of inside informationheadwind
Application of the EU market abuse regulation requires formal procedures for inside information, with an impact on compliance costs 1.
Competitive position
The annual report extract does not identify the group's competitors, so no market share or positioning comparisons can be drawn from these sources 1.
Competition must be assessed using information from other sources, since the available documents describe only the company's internal structure and governance 1.
- No competitors identified in available sources
The annual report extract provided does not name direct competitors of the group.
- Fishing and marine processing companies
The sources reviewed do not allow competing companies to be identified with certainty.
- Other companies along the marine value chain
Positioning against other industry companies is not described in the available extract.
- Companies listed in markets outside Norway
The source contains no information on listings or comparisons with companies listed in the United States.
News & filings
In the press
No news in our archive over the last 180 days.
Annual reports (ESEF)
- Annual report 202521 Oct 2026
- Annual report 202408 May 2025
Sources
- [1] Annual report, fiscal year ended 2025-12-31 (ESEF) · SEC / Austevoll Seafood ASA · 31 Dec 2025
Figures computed by olivLaw from ESEF annual reports and closing prices; the qualitative analysis is AI-generated from cited sources. Not investment advice.