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Employees: 353
Size Masoval AS (MAS.OL) is a Norway Consumer Staples company (Food: Meat/Fish/Dairy) with a market value of $508M, the 90th largest of 115 Norway companies the cockpit tracks. Shares closed at NOK 38.50 on 6 Nov 2026.
Performance Over six months the shares gained 16.3%, against -6.3% for the median peer and +2.7% for the Norway market (cap-weighted) — 4th highest of 21 in its peer set.
Growth Revenue fell 1.5% over the last twelve months (peer median +9.7%); the operating margin is 3.9% (peer median 3.2%).
Valuation It trades at 45.6× forward earnings against a peer median of 27.1× (4th most expensive of 16).
Price implies For today's price to make sense, revenue must grow about 28% a year for seven years (Req g). Recent delivered growth is +22%, so the hurdle is +6 pp: the price needs faster growth than the company has been delivering — of companies that just grew 25–50% a year, 93.8% slowed down over the next four years.
Capital Return on invested capital runs 6.0 points below its cost of capital (7.8% WACC).
Next results Next results expected around 17 Nov 2026 (exchange calendar; dates can move).
| TTM | FY2025 | FY2024 | FY2023 | FY2022 | |
|---|---|---|---|---|---|
| Revenue | NOK 2.16B | NOK 2.35B | NOK 2.23B | NOK 2.28B | NOK 1.90B |
| Revenue growth | — | +5% | -2% | +20% | — |
| Gross profit | NOK 23.8M | -NOK 29.6M | NOK 408M | NOK 676M | NOK 854M |
| EBITDA | NOK 384M | -NOK 318M | NOK 51.3M | NOK 527M | NOK 757M |
| Net income | -NOK 132M | -NOK 73.0M | NOK 166M | NOK 178M | NOK 621M |
| Free cash flow | NOK 401M | NOK 365M | -NOK 160M | NOK 234M | NOK 457M |
| Capital expenditure | NOK 93.4M | NOK 109M | NOK 166M | NOK 103M | NOK 203M |
| Total debt | NOK 2.10B | NOK 2.30B | NOK 2.28B | NOK 1.95B | NOK 2.03B |
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.
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.
| Measure | MAS.OL | Peer median | Rank in peer set |
|---|---|---|---|
| 1-month return | +1.6% | -3.0% | 7th highest of 21 |
| 6-month return | +16.3% | -6.3% | 4th highest of 21 |
| Distance from 52-week high | 0.0% | -23.4% | highest of 21 |
| Revenue growth (TTM) | -1.5% | +9.7% | 4th lowest of 21 |
| Operating margin | 3.9% | 3.2% | 8th highest of 21 |
| Forward P/E | 45.6× | 27.1× | 4th most expensive of 16 |
| Growth the price implies (Req g, 7 yrs) | 28.2% | 14.6% | 2nd most demanding of 9 |
| Growth delivered (Del g) | +22.3% | +4.3% | 2nd highest of 9 |
| Hurdle (Req g minus delivered) | +5.9 pp | +4.6 pp | 5th least demanding of 9 |
| ROIC minus cost of capital | -6.0 pp | -0.3 pp | 4th lowest of 21 |
| EV / EBITDA | 17.5× | 16.7× | 3rd most expensive of 10 |
| Net debt / EBITDA | 5.2× | 0.6× | 3rd most indebted of 15 |
| Company | Market | Market cap | 6M return | Revenue growth | Op. margin | Forward P/E | Req g | Delivered g |
|---|---|---|---|---|---|---|---|---|
| Masoval AS MAS.OL | Norway | $508M | +16% | -1% | 4% | 45.6× | 28.2% | +22.3% |
| High Liner Foods HLF.TO | Canada | $536M | +91% | +14% | 5% | 8.7× | 3.5% | +5.3% |
| Binggrae 005180.KS | South Korea | $472M | +9% | +4% | 9% | 6.3× | n/a | n/a |
| Australian Agricultural AAC.AX | Australia | $553M | +2% | +9% | -47% | 94.6× | n/a | n/a |
| Xinjiang Terun Dairy 600419.SS | China | $465M | +2% | +5% | 5% | 26.8× | -4.3% | +9.4% |
| Henan Huaying Agricultural Development 002321.SZ | China | $569M | -16% | +24% | 1% | n/a | n/a | n/a |
| Starzen 8043.T | Japan | $574M | +36% | +4% | 2% | 9.4× | n/a | n/a |
| HaiXin Foods 002702.SZ | China | $444M | -10% | +11% | -1% | n/a | 22.8% | -1.0% |
| Parag Milk Foods PARAGMILK.NS | India | $435M | +42% | +13% | 5% | 27.6× | n/a | n/a |
| Hunan Xiangjia Animal Husbandry 002982.SZ | China | $425M | -4% | +8% | 2% | 69.8× | n/a | n/a |
| Dodla Dairy DODLA.NS | India | $625M | -14% | +17% | 4% | 28.6× | 33.7% | +16.2% |
| Mama's Creations MAMA | United States | $632M | +2% | +54% | 5% | 46.4× | 17.6% | +33.3% |
| Beingmate 002570.SZ | China | $680M | -16% | -4% | 3% | 28.3× | 11.8% | +0.8% |
| Heritage Foods HERITGFOOD.NS | India | $366M | +2% | +14% | 3% | 27.1× | n/a | n/a |
| Prima Meat Packers,Ltd 2281.T | Japan | $724M | -9% | +5% | 2% | 12.8× | -1.2% | +1.9% |
| Panda Dairy 300898.SZ | China | $356M | -20% | +15% | 10% | 18.8× | 17.4% | +3.4% |
| Xinjiang Talimu Agriculture Development 600359.SS | China | $348M | -20% | -20% | -5% | n/a | n/a | n/a |
| Kyokuyo 1301.T | Japan | $331M | -3% | +11% | 3% | n/a | n/a | n/a |
| Lifeway Foods LWAY | United States | $327M | -15% | +26% | 6% | 27.1× | n/a | n/a |
| Marudai Food 2288.T | Japan | $325M | -10% | +1% | 3% | n/a | n/a | n/a |
| Guangdong Yantang Dairy 002732.SZ | China | $310M | -20% | -5% | 3% | 8.8× | n/a | n/a |