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
SalMar ASA (SALRF) - Net Assets
Latest net assets as of December 2025: $20.15 Billion USD
Based on the latest financial reports, SalMar ASA (SALRF) has net assets worth $20.15 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 ($57.95 Billion) and total liabilities ($37.80 Billion). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | $20.15 Billion |
| % of Total Assets | 34.77% |
| Annual Growth Rate | 24.34% |
| 5-Year Change | 30.13% |
| 10-Year Change | 201.58% |
| Growth Volatility | 33.98 |
SalMar ASA - Net Assets Trend (2004–2025)
This chart illustrates how SalMar ASA's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for SalMar ASA (2004–2025)
The table below shows the annual net assets of SalMar ASA from 2004 to 2025.
| Year | Net Assets | Change |
|---|---|---|
| 2025-12-31 | $20.15 Billion | -0.45% |
| 2024-12-31 | $20.24 Billion | -12.30% |
| 2023-12-31 | $23.08 Billion | -4.45% |
| 2022-12-31 | $24.15 Billion | +56.01% |
| 2021-12-31 | $15.48 Billion | +40.92% |
| 2020-12-31 | $10.99 Billion | +12.80% |
| 2019-12-31 | $9.74 Billion | +6.57% |
| 2018-12-31 | $9.14 Billion | +19.19% |
| 2017-12-31 | $7.67 Billion | +14.78% |
| 2016-12-31 | $6.68 Billion | +27.81% |
| 2015-12-31 | $5.23 Billion | +1.75% |
| 2014-12-31 | $5.14 Billion | +1.51% |
| 2013-12-31 | $5.06 Billion | +70.53% |
| 2012-12-31 | $2.97 Billion | +34.01% |
| 2011-12-31 | $2.21 Billion | -10.32% |
| 2010-12-31 | $2.47 Billion | +45.27% |
| 2009-12-31 | $1.70 Billion | +29.16% |
| 2008-12-31 | $1.32 Billion | -0.50% |
| 2007-12-31 | $1.32 Billion | +49.42% |
| 2006-12-31 | $885.21 Million | +117.18% |
| 2005-12-31 | $407.59 Million | +96.12% |
| 2004-12-31 | $207.83 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 | $6.00 Billion | 33.84% |
| Common Stock | $34.00 Million | 0.19% |
| Other Components | $11.71 Billion | 65.97% |
| Total Equity | $17.75 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 |
|---|---|
|
AGL Energy Limited
F:N9Z1
|
$3.40 Billion |
|
Azimut Holding SpA
LSE:0MHJ
|
$3.40 Billion |
|
Umicore S.A.
BR:UMI
|
$3.40 Billion |
|
China Taiping Insurance Holdings Company Limited
F:HIUC
|
$3.40 Billion |
|
Gitlab Inc
NASDAQ:GTLB
|
$3.40 Billion |
|
Jl Mag Rare-Earth Co Ltd Class A
SHE:300748
|
$3.40 Billion |
|
HUAYU Automotive Systems Co Ltd
SHG:600741
|
$3.40 Billion |
|
Oceaneering International Inc
NYSE:OII
|
$3.39 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 1,105,000,000 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 559,000,000.
- Other factors increased equity by 2,347,000,000.
Equity Change Factors (2024 to 2025)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | $1.10 Billion | +6.23% |
| Dividends Paid | $3.02 Billion | -17.04% |
| Share Repurchases | $50.00 Million | -0.28% |
| Other Comprehensive Income | $-559.00 Million | -3.15% |
| Other Changes | $2.35 Billion | +13.23% |
| Total Change | $- | -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: 0.41x
- The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
- The price-to-book ratio has decreased from 26.23x to 0.41x 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 | $2.06 | $54.04 | x |
| 2005-12-31 | $4.07 | $54.04 | x |
| 2006-12-31 | $8.85 | $54.04 | x |
| 2007-12-31 | $12.96 | $54.04 | x |
| 2008-12-31 | $12.77 | $54.04 | x |
| 2009-12-31 | $16.54 | $54.04 | x |
| 2010-12-31 | $22.83 | $54.04 | x |
| 2011-12-31 | $20.31 | $54.04 | x |
| 2012-12-31 | $25.37 | $54.04 | x |
| 2013-12-31 | $41.69 | $54.04 | x |
| 2014-12-31 | $45.33 | $54.04 | x |
| 2015-12-31 | $45.85 | $54.04 | x |
| 2016-12-31 | $58.63 | $54.04 | x |
| 2017-12-31 | $67.27 | $54.04 | x |
| 2018-12-31 | $80.12 | $54.04 | x |
| 2019-12-31 | $79.77 | $54.04 | x |
| 2020-12-31 | $87.05 | $54.04 | x |
| 2021-12-31 | $114.13 | $54.04 | x |
| 2022-12-31 | $161.33 | $54.04 | x |
| 2023-12-31 | $151.19 | $54.04 | x |
| 2024-12-31 | $135.80 | $54.04 | x |
| 2025-12-31 | $132.23 | $54.04 | 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): 6.23%
- 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 (6.23%) is below the historical average (27.27%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2004 | 40.51% | 10.65% | 0.76x | 5.03x | $62.87 Million |
| 2005 | 61.98% | 29.11% | 0.72x | 2.96x | $211.53 Million |
| 2006 | 50.31% | 35.87% | 0.55x | 2.57x | $356.57 Million |
| 2007 | 26.63% | 20.97% | 0.58x | 2.19x | $219.69 Million |
| 2008 | 12.85% | 9.91% | 0.56x | 2.33x | $37.41 Million |
| 2009 | 27.72% | 19.82% | 0.67x | 2.09x | $301.00 Million |
| 2010 | 40.75% | 28.18% | 0.58x | 2.48x | $722.98 Million |
| 2011 | 7.04% | 3.88% | 0.60x | 3.02x | $-61.87 Million |
| 2012 | 16.51% | 11.12% | 0.55x | 2.69x | $184.23 Million |
| 2013 | 37.90% | 28.66% | 0.63x | 2.10x | $1.32 Billion |
| 2014 | 23.49% | 16.60% | 0.71x | 1.99x | $684.83 Million |
| 2015 | 21.43% | 15.06% | 0.67x | 2.13x | $588.55 Million |
| 2016 | 39.97% | 29.42% | 0.67x | 2.03x | $1.98 Billion |
| 2017 | 30.00% | 21.14% | 0.83x | 1.71x | $1.52 Billion |
| 2018 | 39.44% | 31.46% | 0.75x | 1.67x | $2.66 Billion |
| 2019 | 27.62% | 20.33% | 0.68x | 2.00x | $1.59 Billion |
| 2020 | 20.09% | 15.33% | 0.59x | 2.23x | $993.92 Million |
| 2021 | 19.78% | 17.39% | 0.54x | 2.12x | $1.29 Billion |
| 2022 | 17.11% | 16.43% | 0.32x | 3.23x | $1.38 Billion |
| 2023 | 16.09% | 11.48% | 0.52x | 2.68x | $1.21 Billion |
| 2024 | 16.56% | 11.24% | 0.49x | 3.04x | $1.18 Billion |
| 2025 | 6.23% | 4.03% | 0.47x | 3.27x | $-669.50 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: $2,544,899,689
- Average return on equity (ROE) among peers: 2.77%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| SalMar ASA (SALRF) | $20.15 Billion | 40.51% | 1.88x | $3.40 Billion |
| African Agriculture Holdings Inc (AAGRW) | $-22.58 Million | 0.00% | 0.00x | $107.62K |
| Atlantic Sapphire ASA (AASZF) | $255.46 Million | -21.61% | 0.26x | $8.52 Million |
| Australian Agricultural Company Limited (AAYYY) | $843.66 Million | -17.59% | 0.52x | $654.00 Million |
| Archer-Daniels-Midland Company (ADM) | $18.17 Billion | 11.21% | 1.30x | $33.40 Billion |
| Anglo-Eastern Plantations Plc (AEPLF) | $471.37 Million | 10.04% | 0.19x | $166.40 Million |
| Forafric Global PLC Ordinary Shares (AFRI) | $47.65 Million | -16.75% | 5.29x | $31.34 Million |
| Adecoagro SA (AGRO) | $757.16 Million | -0.03% | 0.68x | $248.53 Million |
| Agroz Inc. Ordinary Shares (AGRZ) | $13.73 Million | 25.57% | 2.72x | $5.36 Million |
| Alico Inc (ALCO) | $127.55 Million | 14.50% | 0.45x | $229.15 Million |
| Astral Foods Limited (ALFDF) | $4.79 Billion | 22.32% | 0.76x | $170.88 Million |