SalMar ASA (SALM) - Net Assets
Based on the latest financial reports, SalMar ASA (SALM) has net assets worth Nkr17.75 Billion NOK (≈ $1.87 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr57.95 Billion ≈ $6.10 Billion USD) and total liabilities (Nkr40.20 Billion ≈ $4.23 Billion USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check SALM cash and liquid asset ratio to evaluate the company's liquid asset resilience ratio.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Nkr17.75 Billion |
| % of Total Assets | 30.62% |
| Annual Growth Rate | 25.07% |
| 5-Year Change | 30.13% |
| 10-Year Change | 201.58% |
| Growth Volatility | 33.31 |
SalMar ASA - Net Assets Trend (2003–2025)
This chart illustrates how SalMar ASA's net assets have evolved over time, based on quarterly financial data. Also explore how large is SalMar ASA's balance sheet for the complete picture of this company's asset base.
Annual Net Assets for SalMar ASA (2003–2025)
The table below shows the annual net assets of SalMar ASA from 2003 to 2025. For live valuation and market cap data, see SALM company net worth.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | Nkr20.15 Billion ≈ $2.12 Billion |
-0.45% |
| 2024-12-31 | Nkr20.24 Billion ≈ $2.13 Billion |
-12.30% |
| 2023-12-31 | Nkr23.08 Billion ≈ $2.43 Billion |
-4.45% |
| 2022-12-31 | Nkr24.15 Billion ≈ $2.54 Billion |
+56.01% |
| 2021-12-31 | Nkr15.48 Billion ≈ $1.63 Billion |
+40.92% |
| 2020-12-31 | Nkr10.99 Billion ≈ $1.16 Billion |
+12.80% |
| 2019-12-31 | Nkr9.74 Billion ≈ $1.02 Billion |
+6.57% |
| 2018-12-31 | Nkr9.14 Billion ≈ $961.77 Million |
+19.19% |
| 2017-12-31 | Nkr7.67 Billion ≈ $806.91 Million |
+14.78% |
| 2016-12-31 | Nkr6.68 Billion ≈ $703.02 Million |
+27.81% |
| 2015-12-31 | Nkr5.23 Billion ≈ $550.04 Million |
+1.75% |
| 2014-12-31 | Nkr5.14 Billion ≈ $540.59 Million |
+1.51% |
| 2013-12-31 | Nkr5.06 Billion ≈ $532.54 Million |
+70.53% |
| 2012-12-31 | Nkr2.97 Billion ≈ $312.29 Million |
+34.01% |
| 2011-12-31 | Nkr2.21 Billion ≈ $233.04 Million |
-10.32% |
| 2010-12-31 | Nkr2.47 Billion ≈ $259.85 Million |
+45.27% |
| 2009-12-31 | Nkr1.70 Billion ≈ $178.87 Million |
+29.16% |
| 2008-12-31 | Nkr1.32 Billion ≈ $138.48 Million |
-0.50% |
| 2007-12-31 | Nkr1.32 Billion ≈ $139.18 Million |
+49.42% |
| 2006-12-31 | Nkr885.21 Million ≈ $93.15 Million |
+117.18% |
| 2005-12-31 | Nkr407.59 Million ≈ $42.89 Million |
+96.12% |
| 2004-12-31 | Nkr207.83 Million ≈ $21.87 Million |
+41.60% |
| 2003-12-31 | Nkr146.77 Million ≈ $15.44 Million |
-- |
Equity Component Analysis
This analysis shows how different components contribute to SalMar ASA's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.
Equity Composition Insights
- Retained earnings have grown by 600500000000.0% over the analyzed period, indicating profitable operations and earnings retention.
Current Equity Component Breakdown (December 2025)
| Component | Amount | Percentage |
|---|---|---|
| Retained Earnings | Nkr6.00 Billion | 33.84% |
| Other Components | Nkr11.74 Billion | 66.16% |
| Total Equity | Nkr17.75 Billion | 100.00% |
SalMar ASA Competitors by Market Cap
The table below lists competitors of SalMar ASA ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
Deutsche Wohnen SE
F:DWNI
|
$7.98 Billion |
|
Full Truck Alliance Co Ltd ADR
NYSE:YMM
|
$7.98 Billion |
|
Storebrand ASA
OL:STB
|
$7.99 Billion |
|
Vietnam Prosperity Joint Stock Commercial Bank
VN:VPB
|
$7.99 Billion |
|
Military Commercial Joint Stock Bank
VN:MBB
|
$7.97 Billion |
|
Jyske Bank A/S
CO:JYSK
|
$7.97 Billion |
|
Columbia Banking System Inc
NASDAQ:COLB
|
$7.97 Billion |
|
Trelleborg AB (publ)
ST:TREL-B
|
$7.97 Billion |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in SalMar ASA's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2024 to 2025, total equity changed from 17,926,000,000 to 17,745,000,000, a change of -181,000,000 (-1.0%).
- Net income of 1,104,000,000 contributed positively to equity growth.
- Dividend payments of 3,024,000,000 reduced retained earnings.
- Share repurchases of 50,000,000 reduced equity.
- Other comprehensive income decreased equity by 558,000,000.
- Other factors increased equity by 2,347,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr1.10 Billion | +6.22% |
| Dividends Paid | Nkr3.02 Billion | -17.04% |
| Share Repurchases | Nkr50.00 Million | -0.28% |
| Other Comprehensive Income | Nkr-558.00 Million | -3.14% |
| Other Changes | Nkr2.35 Billion | +13.23% |
| Total Change | Nkr- | -1.01% |
Book Value vs Market Value Analysis
This analysis compares SalMar ASA's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.
Valuation Insights
- Current price-to-book ratio: 4.26x
- The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
- The price-to-book ratio has decreased from 271.28x to 4.26x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2004-12-31 | Nkr2.06 | Nkr559.00 | x |
| 2005-12-31 | Nkr4.07 | Nkr559.00 | x |
| 2006-12-31 | Nkr8.85 | Nkr559.00 | x |
| 2007-12-31 | Nkr12.96 | Nkr559.00 | x |
| 2008-12-31 | Nkr12.77 | Nkr559.00 | x |
| 2009-12-31 | Nkr16.54 | Nkr559.00 | x |
| 2010-12-31 | Nkr22.83 | Nkr559.00 | x |
| 2011-12-31 | Nkr20.31 | Nkr559.00 | x |
| 2012-12-31 | Nkr25.37 | Nkr559.00 | x |
| 2013-12-31 | Nkr41.69 | Nkr559.00 | x |
| 2014-12-31 | Nkr45.33 | Nkr559.00 | x |
| 2015-12-31 | Nkr45.85 | Nkr559.00 | x |
| 2016-12-31 | Nkr58.63 | Nkr559.00 | x |
| 2017-12-31 | Nkr67.27 | Nkr559.00 | x |
| 2018-12-31 | Nkr80.12 | Nkr559.00 | x |
| 2019-12-31 | Nkr79.77 | Nkr559.00 | x |
| 2020-12-31 | Nkr87.05 | Nkr559.00 | x |
| 2021-12-31 | Nkr114.13 | Nkr559.00 | x |
| 2022-12-31 | Nkr161.33 | Nkr559.00 | x |
| 2023-12-31 | Nkr151.19 | Nkr559.00 | x |
| 2024-12-31 | Nkr135.80 | Nkr559.00 | x |
| 2025-12-31 | Nkr131.13 | Nkr559.00 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently SalMar ASA utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.
Capital Efficiency Insights
- Current Return on Equity (ROE): 6.22%
- The company has moderate efficiency in generating returns from equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: 4.03%
- • Asset Turnover: 0.47x
- • Equity Multiplier: 3.27x
- Recent ROE (6.22%) is below the historical average (26.70%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2003 | 14.13% | 3.64% | 0.59x | 6.57x | Nkr6.00 Million |
| 2004 | 40.51% | 10.65% | 0.76x | 5.03x | Nkr62.87 Million |
| 2005 | 61.98% | 29.11% | 0.72x | 2.96x | Nkr211.53 Million |
| 2006 | 50.31% | 35.87% | 0.55x | 2.57x | Nkr356.57 Million |
| 2007 | 26.63% | 20.97% | 0.58x | 2.19x | Nkr219.69 Million |
| 2008 | 12.85% | 9.91% | 0.56x | 2.33x | Nkr37.41 Million |
| 2009 | 27.72% | 19.82% | 0.67x | 2.09x | Nkr301.00 Million |
| 2010 | 40.75% | 28.18% | 0.58x | 2.48x | Nkr722.98 Million |
| 2011 | 7.04% | 3.88% | 0.60x | 3.02x | Nkr-61.87 Million |
| 2012 | 16.51% | 11.12% | 0.55x | 2.69x | Nkr184.23 Million |
| 2013 | 37.90% | 28.66% | 0.63x | 2.10x | Nkr1.32 Billion |
| 2014 | 23.49% | 16.60% | 0.71x | 1.99x | Nkr684.83 Million |
| 2015 | 21.43% | 15.06% | 0.67x | 2.13x | Nkr588.55 Million |
| 2016 | 39.97% | 29.42% | 0.67x | 2.03x | Nkr1.98 Billion |
| 2017 | 30.00% | 21.14% | 0.83x | 1.71x | Nkr1.52 Billion |
| 2018 | 39.44% | 31.46% | 0.75x | 1.67x | Nkr2.66 Billion |
| 2019 | 27.62% | 20.33% | 0.68x | 2.00x | Nkr1.59 Billion |
| 2020 | 20.09% | 15.33% | 0.59x | 2.23x | Nkr993.92 Million |
| 2021 | 19.78% | 17.39% | 0.54x | 2.12x | Nkr1.29 Billion |
| 2022 | 17.11% | 16.43% | 0.32x | 3.23x | Nkr1.38 Billion |
| 2023 | 16.09% | 11.40% | 0.53x | 2.68x | Nkr1.21 Billion |
| 2024 | 16.56% | 11.24% | 0.49x | 3.04x | Nkr1.18 Billion |
| 2025 | 6.22% | 4.03% | 0.47x | 3.27x | Nkr-670.50 Million |
Industry Comparison
This section compares SalMar ASA's net assets metrics with peer companies in the Farm Products industry.
Industry Context
- Industry: Farm Products
- Average net assets among peers: $2,999,622,270
- Average return on equity (ROE) among peers: -2.00%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SalMar ASA (SALM) | Nkr17.75 Billion | 14.13% | 2.27x | $7.97 Billion |
| Andfjord Salmon AS (ANDF) | $993.69 Million | -7.02% | 0.22x | $276.76 Million |
| Atlantic Sapphire As (ASA) | $137.44 Million | -8.29% | 0.11x | $11.05 Million |
| Austevoll Seafood ASA (AUSS) | $22.99 Billion | 3.58% | 0.73x | $1.98 Billion |
| P/f Bakkafrost (BAKKA) | $1.67 Billion | 35.38% | 0.87x | $2.88 Billion |
| Barramundi Group Ltd (BARRA) | $29.85 Million | -29.51% | 2.44x | $14.30 Million |
| Biofish Holding AS (BFISH) | $20.97 Million | 32.50% | 5.77x | $20.74 Million |
| Clean Seas Seafood Ltd. (CSS) | $83.71 Million | -38.66% | 0.10x | $19.84 Million |
| Gigante Salmon AS (GIGA) | $279.70 Million | 2.00% | 0.14x | $165.80 Million |
| Grieg Seafood ASA (GSF) | $1.51 Billion | -9.73% | 1.69x | $428.51 Million |
| Ice Fish Farm AS (IFISH) | $2.28 Billion | -0.25% | 0.61x | $43.74 Million |
About SalMar ASA
SalMar ASA, an aquaculture company, produces and sells farmed salmon in Norway, Asia, Europe, North America, and internationally. The company operates through Fish Farming Central Norway, Fish Farming Northern Norway, Icelandic Salmon, Sales & Industry, and SalMar Aker Ocean segments. It also engages in the broodstock, marine-phase farming, harvesting, processing, and smolt production activities.… Read more