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Mowi ASA (MHGVY)
OTHER OTC:MHGVY
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Mowi ASA
(OTC:MHGVY)
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Rating:74Outperform
Price Target:
$26.00
▲(17.59% Upside)
Mowi ASA's overall stock score is driven by strong technical momentum and positive earnings call highlights, despite some valuation concerns and profitability pressures. The company's strategic acquisitions and operational efficiencies contribute positively, while market and biological challenges present risks.
Positive Factors
Revenue Growth
Consistent revenue growth indicates strong market demand and effective sales strategies, supporting long-term business expansion and stability.
Operational Efficiency
Improved operational efficiency through cost reductions enhances profitability and competitiveness, ensuring better resource allocation and financial health.
Strategic Acquisition
The acquisition strengthens Mowi's market position and operational scale, providing opportunities for cost synergies and expanded production capacity.
Negative Factors
Profitability Pressure
Declining profit margins indicate rising costs or pricing pressures, which can affect long-term profitability and shareholder returns.
Biological Challenges
Biological challenges, such as high sea temperatures and sea lice, pose risks to production stability and cost management, impacting overall profitability.
Soft Market Prices
Soft market prices can erode revenue and profit margins, challenging the company's ability to maintain financial performance and market competitiveness.
Mowi ASA (MHGVY) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$12.06B
Dividend Yield2.53%
Average Volume (3M)660.00
Price to Earnings (P/E)27.3
Beta (1Y)0.77
Revenue Growth3.89%
EPS Growth-4.73%
CountryUS
Employees11,473
SectorConsumer Defensive
Sector Strength42
IndustryAgricultural Farm Products
Share Statistics
EPS (TTM)0.15
Shares Outstanding527,290,600
10 Day Avg. Volume0
30 Day Avg. Volume660
Financial Highlights & Ratios
PEG Ratio3.11
Price to Book (P/B)2.21
Price to Sales (P/S)1.51
P/FCF Ratio15.64
Enterprise Value/Market Cap1.05
Enterprise Value/Revenue2.15
Enterprise Value/Gross Profit5.43
Enterprise Value/Ebitda11.11
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusHold
Number of Analyst Covering1
EPS Forecast (FY)N/A
Revenue Forecast (FY)N/A
Mowi ASA Business Overview & Revenue Model
Company DescriptionMowi ASA, a seafood company, produces and supplies farmed salmon products worldwide. The company operates through three segments: Feed, Farming, and Sales and Marketing. It is involved in the salmon feed production, salmon farming and primary processing, and seafood secondary processing activities. The company offers whole gutted fish, including Label Rouge and organic salmon; and white fish and other seafood products, as well as fillets, steaks, cutlets, portions, loins, kebabs, and steak combos. It also provides value added products, such as breaded, pre-fried, dusted, marinated, grilled, battered, topped, filled with sauce, delicatessen, fresh fish ready meal, and smoked fish products. The company offers its products under the Mowi, Mowi Salmon, Donegal Silver, Admiral's, Pieters, Laschinger, Kritsen, Ducktrap River, Harbour Salmon Co., Rebel Fish, Supreme Salmon, Olav's, Northern Harvest, and Mowi Nutrition brand names. The company was formerly known as Marine Harvest ASA and changed its name to Mowi ASA in December 2018. Mowi ASA was founded in 1964 and is headquartered in Bergen, Norway.
How the Company Makes MoneyMowi ASA generates revenue primarily through the sale of farmed Atlantic salmon, which is its core product. The company has multiple revenue streams including wholesale sales of whole fish, fillets, and processed products, as well as value-added items such as ready-to-eat meals and seafood snacks. Additionally, Mowi engages in international trading and exports, significantly boosting its earnings. The company benefits from long-term contracts with retailers and food service operators, ensuring a stable demand for its products. Furthermore, Mowi's focus on sustainability and innovation helps to enhance its brand value and attract environmentally-conscious consumers, contributing to its overall revenue growth.
Mowi ASA Earnings Call Summary
Earnings Call Date:Nov 05, 2025
(Q3-2025)
| % Change Since: |
Next Earnings Date:Feb 11, 2026
Earnings Call Sentiment Positive
Mowi's earnings call highlighted strong operational achievements, including record harvest volumes and successful cost reduction strategies. The acquisition of Nova Sea and strong performance in Consumer and Feed divisions were notable achievements. However, the company faced challenges with soft market prices and biological issues in certain regions, impacting profitability. Overall, the positives slightly outweighed the negatives.Q3-2025 Updates
Positive Updates
Record High Harvest Volumes
Mowi achieved record high harvest volumes of 166,000 tonnes, slightly above guidance, leading to EUR 1.39 billion in operating revenues.
Cost Reduction Achievements
Weighted realized production cost was stable quarter-over-quarter and down by 5% year-over-year, resulting in a EUR 50 million decrease in P&L cost year-over-year and EUR 126 million year-to-date.
Successful Nova Sea Acquisition
The acquisition of Nova Sea was completed, with anticipated synergies of EUR 34 million, contributing to an increase in volume guidance from 545,000 tonnes to 554,000 tonnes for the year.
Strong Consumer Products and Feed Performance
Consumer and Feed divisions delivered strong results, with record-high earnings in Consumer Products and a quarterly record high operational EBITDA of EUR 26 million in Feed.
Positive Price Performance
Mowi's price performance was 15% above the reference price, positively impacted by contract share and contract prices above the prevailing spot price.
Negative Updates
Soft Market Prices
The quarter was characterized by soft prices, with prices even below industry cost, affecting operational profit which stood at EUR 112 million.
Biological Challenges in Canada
The Canadian operations faced significant biological challenges, leading to a loss of EUR 31 million due to high sea temperatures and sea lice issues.
Loss in Iceland Operations
Arctic Fish in Iceland reported a loss of EUR 6 million due to low prices and high costs, although biological conditions were developing well.
Company Guidance
In the third quarter of 2025, Mowi reported an operating revenue of EUR 1.39 billion and an operational profit of EUR 112 million, marking a significant achievement with a record high harvest volume of 166,000 tonnes, slightly exceeding their guidance. The company's weighted realized production cost was EUR 5.42 per kilo, reflecting a 5% year-over-year reduction. Mowi's acquisition of Nova Sea was finalized in October, allowing for the integration aimed at achieving EUR 34 million in synergies. The company's farming volume guidance was revised to 554,000 tonnes for 2025, indicating a 10.5% year-over-year growth, with expectations to elevate this to 605,000 tonnes in 2026, translating to a 9.2% growth. Mowi also announced a quarterly dividend of NOK 1.50 per share. Operational efficiency continues to improve, with significant reductions in costs and FTEs, contributing to a robust financial position and a strong balance sheet with a net interest-bearing debt of EUR 1.76 billion. The outlook for 2026 includes stable production costs and further volume growth, supported by increased postsmolt production and strategic investments.Mowi ASA Financial Statement Overview
Summary
Mowi ASA demonstrates solid revenue growth and a stable financial position with manageable leverage. However, there are pressures on profitability margins and efficiency in cash flow conversion. The company should focus on improving operational efficiencies to enhance profitability and cash flow conversion ratios.Income Statement
Mowi ASA shows a stable revenue growth trend with a TTM growth rate of 3.22%. The gross profit margin is strong at 47.27% TTM, although slightly lower than the previous year. Net profit margin has decreased to 7.03% TTM, indicating some pressure on net income. EBIT and EBITDA margins have also seen a decline, suggesting increased operational costs or other expenses. Overall, the income statement reflects solid revenue growth but with some pressure on profitability margins.75
Positive
Balance Sheet
The company's debt-to-equity ratio is 0.67 TTM, showing a moderate level of leverage, which is slightly improved from previous years. Return on equity is at 10.66% TTM, indicating decent profitability relative to shareholder equity. The equity ratio stands at 45.29% TTM, reflecting a stable capital structure. While leverage is manageable, the decline in ROE suggests a need for improved profitability.70
Positive
Cash Flow
Free cash flow growth is robust at 59% TTM, indicating strong cash generation capabilities. The operating cash flow to net income ratio is 0.65 TTM, showing adequate cash flow coverage. However, the free cash flow to net income ratio is 0.65 TTM, suggesting that a significant portion of net income is being converted into free cash flow. While cash flow generation is strong, the conversion efficiency could be improved.68
Positive
| Breakdown | TTM | Dec 2024 | Dec 2023 | Dec 2022 | Dec 2021 | Dec 2020 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 5.87B | 5.60B | 5.51B | 4.91B | 4.17B | 3.73B |
| Gross Profit | 2.33B | 2.80B | 2.53B | 2.67B | 2.09B | 1.62B |
| EBITDA | 1.14B | 1.22B | 1.42B | 1.44B | 1.03B | 521.80M |
| Net Income | 414.94M | 468.50M | 444.40M | 782.40M | 487.60M | 117.50M |
Balance Sheet | ||||||
| Total Assets | 8.09B | 8.55B | 8.24B | 7.53B | 6.26B | 5.85B |
| Cash, Cash Equivalents and Short-Term Investments | 133.10M | 276.70M | 292.10M | 176.90M | 103.10M | 100.30M |
| Total Debt | 2.45B | 2.68B | 2.57B | 2.40B | 1.88B | 2.10B |
| Total Liabilities | 4.27B | 4.55B | 4.48B | 3.84B | 3.13B | 3.08B |
| Stockholders Equity | 3.66B | 3.84B | 3.59B | 3.51B | 3.13B | 2.76B |
Cash Flow | ||||||
| Free Cash Flow | 578.49M | 542.40M | 595.90M | 309.60M | 588.40M | 186.90M |
| Operating Cash Flow | 900.22M | 916.60M | 992.20M | 644.80M | 833.10M | 502.70M |
| Investing Cash Flow | -288.91M | -332.10M | -413.60M | -469.40M | -133.70M | -283.40M |
| Financing Cash Flow | -660.22M | -598.30M | -458.20M | -99.90M | -706.60M | -238.10M |
Mowi ASA Technical Analysis
Positive
22.11
Price Trends
22.91
Negative
22.47
Positive
20.71
Positive
Market Momentum
-0.16
Negative
49.86
Neutral
92.27
Negative
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For MHGVY, the sentiment is Positive. The current price of 22.11 is below the 20-day moving average (MA) of 22.60, below the 50-day MA of 22.91, and above the 200-day MA of 20.71, indicating a neutral trend. The MACD of -0.16 indicates Negative momentum. The RSI at 49.86 is Neutral, neither overbought nor oversold. The STOCH value of 92.27 is Negative, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for MHGVY.
Mowi ASA Peers Comparison
UnderperformOutperform
Sector (62)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | $9.40B | 10.84 | 14.44% | 4.44% | ― | ― | |
74 Outperform | $12.06B | 27.31 | 10.46% | 2.53% | 3.89% | -4.73% | |
71 Outperform | $1.89B | 24.20 | 3.95% | 3.34% | 1.11% | 414.23% | |
66 Neutral | $22.02B | 12.23 | 10.24% | 3.14% | 10.29% | 17.32% | |
63 Neutral | $1.52B | 52.21 | 8.75% | 2.23% | 7.09% | -83.75% | |
62 Neutral | $20.33B | 14.63 | -3.31% | 3.23% | 1.93% | -12.26% | |
61 Neutral | $22.54B | 114.25 | 2.60% | 3.48% | 2.12% | -40.75% |
* Consumer Defensive Sector Average
MHGVY
Mowi ASA
22.71
3.85
20.39%
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113.98
40.83
55.82%
FDP
Fresh Del Monte Produce
39.60
9.75
32.66%
TSN
Tyson Foods
65.74
9.98
17.91%
DOLE
Dole
16.11
3.08
23.66%
SFD
Smithfield Foods
24.20
3.34
16.01%
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.