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← CockpitCompetitor Analysis › ANDF.OL Andfjord Salmon Group ASOpen in the cockpit ↗

Andfjord Salmon Group ASANDF.OLCompetitor analysis, valuation and peers

Norway · NOK·Consumer Staples›Agricultural Commodities/Milling
Momentum laggard 14
Mkt cap
$321M
US dollars, full cap
Free float
50%
of shares outstanding
$/day
$84,851
20-day average traded
P/B
1.08×
price to book
ROE
-6.6%
delivered
Implied ROE
6.1%
what the price asks
Next earnings
11 days
17 Nov 2026
Close · NOKNOK 24.60
1D-1.2%
1W-4.3%
1M-11.8%
3M-17.2%
6M-10.2%
YTD0.0%
1Y-15.8%
ATR %3.0%
52w lowhigh25.4% off high

What Andfjord Salmon Group AS does

Employees: 31

Andfjord Salmon Group AS at a glance

Size Andfjord Salmon Group AS (ANDF.OL) is a Norway Consumer Staples company (Agricultural Commodities/Milling) with a market value of $321M, the 110th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 24.60 on 6 Nov 2026.

Performance Over six months the shares fell 10.2%, against -8.7% for the median peer and +2.7% for the Norway market (cap-weighted) — 11th highest of 21 in its peer set.

Growth Revenue grew 5,368.5% over the last twelve months (peer median -1.4%); the operating margin is -233.1% (peer median 2.4%).

Valuation It trades at 1.08× book value against a peer median of 1.03× (10th most expensive of 20).

Price implies The share price implies a return on equity of about 6.1%; Andfjord Salmon Group AS delivers -6.6%, so the price asks more than the business earns today.

Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).

Relative performance

9010011011 May 202611 Aug 20266 Nov 2026Peer median 92ANDF.OL 88
Six months, rebased to 100: Andfjord Salmon Group AS against the median of its 20 peers (local-currency closes).

Andfjord Salmon Group AS financials

Reported figures in NOK; fiscal year ends 2025-12-31. TTM = trailing twelve months.
TTMFY2025FY2024FY2023FY2022
RevenueNOK 51.3MNOK 815,000NOK 190,000NOK 37.3MNOK 0
Revenue growth—+329%-99%——
Gross profit-NOK 30.6M-NOK 44.3M-NOK 47.3M-NOK 75.5M-NOK 49.5M
EBITDA-NOK 64.9M-NOK 63.0M-NOK 46.1M-NOK 80.4M-NOK 57.5M
Net income-NOK 163M-NOK 104M-NOK 67.9M-NOK 69.8M-NOK 56.7M
Free cash flow-NOK 1.54B-NOK 2.21B-NOK 1.27B-NOK 350M-NOK 178M
Capital expenditureNOK 1.31BNOK 2.06BNOK 1.21BNOK 327MNOK 95.7M
Total debtNOK 1.71BNOK 1.66BNOK 843MNOK 81.5MNOK 142M

Quarterly statements and history in the cockpit →

Andfjord Salmon Group AS competitor charts

The default views of Competitor Analysis ▸ Charts, drawn from the same data. Open them in the cockpit to change the axes, pin companies and read every value.

Performance: 6-month against 1-month return

-25%0%+25%+50%-10%0%+10%3001752060AFRI002069SNDLACBVFFWEED5JS002852002234KSCL20532938RAIKVCASKSHV2108ANDF.OL6-month return →1-month return →
Up and to the right = strong over both horizons. Andfjord Salmon Group AS is the large dot.

Fundamentals: return on equity against price-to-book

-50%0%50%100%150%00×200×400×3001752060002069SNDL600257WEED2938CASKANDF.OLReturn on equity →Price / book →
A bank or insurer earning more on its equity usually trades at a higher multiple of book; points far above the trend are priced for more. Andfjord Salmon Group AS is the large dot.

Capital: ROE delivered against the ROE the price implies

0%100%200%0%100%200%3001752060002069SNDL600257WEEDCASKANDF.OLROE delivered →ROE the price implies →
Above the diagonal = the price asks for a higher return on equity than the business earns today. Andfjord Salmon Group AS is the large dot.

Andfjord Salmon Group AS competitors and peer comparison

How Andfjord Salmon Group AS compares with its peers

Peer set: Industry: the same industry and sector in any market, nearest in size. This is the same default set the interactive Competitor Analysis opens with.

Andfjord Salmon Group AS against its 20 peers (data as of 6 Nov 2026)
MeasureANDF.OLPeer medianRank in peer set
1-month return-11.8%-3.4%5th lowest of 21
6-month return-10.2%-8.7%11th highest of 21
Return on equity-6.6%5.6%6th lowest of 20
Price / book1.08×1.03×10th most expensive of 20
ROE the price implies6.1%10.0%7th least demanding of 20
ROE delivered-6.6%5.6%6th lowest of 20

Peer table

Peer set: Industry: the same industry and sector in any market, nearest in size
CompanyMarketMarket cap6M returnRevenue growthROEPrice / bookImplied ROEDelivered ROE
Andfjord Salmon Group AS ANDF.OLNorway$321M-10%+5,368%-7%1.08×6.1%-6.6%
Lontrue 300175.SZChina$330M-25%+29%-7%4.60×27.8%-6.6%
Feed One 2060.TJapan$310M+18%+5%11%0.78×5.5%11.1%
Forafric Global AFRIUnited States$334M+22%-36%n/an/an/an/a
Zoneco 002069.SZChina$343M-15%-16%166%49.75×230.0%166.1%
SNDL SNDLUnited States$344M-1%-2%-6%0.49×6.3%-5.7%
Aurora Cannabis ACB.TOCanada$347M+57%-19%-7%0.89×10.1%-7.0%
Dahu Health Industry 600257.SSChina$350M-20%-4%3%2.86×16.4%3.0%
Village Farms International VFFUnited States$352M+12%-24%8%1.12×13.3%7.7%
Canopy Growth WEED.TOCanada$293M-41%+7%-40%0.57×10.3%-39.7%
Indofood Agri Resources 5JS.SISingapore$355M-24%+8%9%0.39×2.4%9.2%
Daodaoquan Grain & Oil 002852.SZChina$359M-20%+5%3%1.14×10.0%3.1%
Shandong Minhe Animal Husbandry Co,.Ltd 002234.SZChina$362M-20%+5%-9%1.44×11.6%-8.5%
Kaveri Seed KSCL.NSIndia$373M-32%-3%13%1.72×20.7%13.4%
Chubu Shiryo 2053.TJapan$375M+17%+6%11%0.73×4.0%11.4%
Okamura Foods 2938.TJapan$377M-3%+21%16%3.00×12.3%15.6%
Raisio RAIKV.HEFinland$379M-17%0%8%1.44×7.7%8.3%
MGP Ingredients CASKUnited States$380M+3,438%-16%-34%0.64×5.6%-34.3%
Select Harvests SHV.AXAustralia$390M+13%-6%6%1.03×6.6%5.6%
Nippon Beet Sugar Manufacturing 2108.TJapan$391M+24%0%7%0.79×5.0%7.0%
Mewah International MV4.SISingapore$259M-29%-4%3%0.28×2.3%3.1%

Questions

Which companies are Andfjord Salmon Group AS's closest peers?
The cockpit's peer set: Lontrue (300175.SZ), Feed One (2060.T), Forafric Global (AFRI), Zoneco (002069.SZ), SNDL (SNDL), Aurora Cannabis (ACB.TO), Dahu Health Industry (600257.SS), Village Farms International (VFF).
Is Andfjord Salmon Group AS expensive compared with its peers?
On price / book it trades at 1.08× against a peer median of 1.03×, 10th most expensive of 20 in its peer set. The share price implies a return on equity of about 6.1%; Andfjord Salmon Group AS delivers -6.6%, so the price asks more than the business earns today.
How has Andfjord Salmon Group AS stock performed?
Over six months to 6 Nov 2026 the shares returned -10.2% against -8.7% for the median peer; over one year -15.8%.

How these numbers are made. Returns are close-to-close in local currency. Revenue growth and margins are trailing twelve months. Req g is the revenue growth that today's enterprise value requires for seven years at the company's own cost of capital; Delivered g is what it actually grew; the gap is the hurdle (honest precision about ±8 points, so read the ranking more than the decimal). No fair values, price targets or analyst ratings are shown, by design. Method and validation.