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Lerøy Seafood Group

OB:LSG
Snowflake Description

Flawless balance sheet, undervalued and pays a dividend.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
LSG
OB
NOK33B
Market Cap
  1. Home
  2. NO
  3. Food, Beverage & Tobacco
Company description

Lerøy Seafood Group ASA produces, processes, markets, and distributes fresh, frozen, and smoked seafood products in Norway. The last earnings update was 24 days ago. More info.


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LSG Share Price and Events
7 Day Returns
-7.7%
OB:LSG
-4.8%
NO Food
2.6%
NO Market
1 Year Returns
-19.3%
OB:LSG
3.4%
NO Food
-9.1%
NO Market
LSG Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Lerøy Seafood Group (LSG) -7.7% -7.9% -4.4% -19.3% 42% 133.1%
NO Food -4.8% -6.4% 1.7% 3.4% 41.6% 115.5%
NO Market 2.6% 8% 2.6% -9.1% 31.3% 13.2%
1 Year Return vs Industry and Market
  • LSG underperformed the Food industry which returned 3.4% over the past year.
  • LSG underperformed the Market in Norway which returned -9.1% over the past year.
Price Volatility
LSG
Industry
5yr Volatility vs Market

LSG Value

 Is Lerøy Seafood Group undervalued based on future cash flows and its price relative to the stock market?

Value is all about what a company is worth versus what price it is available for. If you went into a grocery store and all the bananas were on sale at half price, they could be considered undervalued.
INTRINSIC VALUE BASED ON FUTURE CASH FLOWS
Here we compare the current share price of Lerøy Seafood Group to its discounted cash flow analysis.value.

The discounted cash flow value is simply looking at what the company is worth today, based on estimates of how much money it is expected to make in the future.
Raw Data

Below are the data sources, inputs and calculation used to determine the intrinsic value for Lerøy Seafood Group.

OB:LSG Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 6 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 6.5%
Perpetual Growth Rate 10-Year NO Government Bond Rate 1.8%

An important part of a discounted cash flow is the discount rate, below we explain how it has been calculated.

Calculation of Discount Rate/ Cost of Equity for OB:LSG
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6%
Food Unlevered Beta Simply Wall St/ S&P Global 0.55
Re-levered Beta = Unlevered beta (1 + (1- tax rate) (Debt/Equity))
= 0.546 (1 + (1- 23%) (21.42%))
0.756
Levered Beta Levered Beta limited to 0.8 to 2.0
(practical range for a stable firm)
0.8
Discount Rate/ Cost of Equity = Cost of Equity = Risk Free Rate + (Levered Beta * Equity Risk Premium)
= 1.76% + (0.8 * 5.96%)
6.53%

Discounted Cash Flow Calculation for OB:LSG using 2 Stage Free Cash Flow to Equity Model

The calculations below outline how an intrinsic value for Lerøy Seafood Group is arrived at by discounting future cash flows to their present value using the 2 stage method. We try to start with analysts estimates of free cash flow, however if these are not available we use the most recent financial results. In the 1st stage we continue to grow the free cash flow over a 10 year period, with the growth rate trending towards the perpetual growth rate used in the 2nd stage. The 2nd stage assumes the company grows at a stable rate into perpetuity.

Note: Free cash flow to equity valuations ignore the company's cash or debt.

OB:LSG DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (NOK, Millions) Source Present Value
Discounted (@ 6.53%)
2020 2,126.00 Analyst x4 1,995.72
2021 3,004.00 Analyst x3 2,647.11
2022 3,682.46 Est @ 22.59% 3,046.12
2023 4,284.09 Est @ 16.34% 3,326.62
2024 4,796.66 Est @ 11.96% 3,496.39
2025 5,223.70 Est @ 8.9% 3,574.34
2026 5,576.83 Est @ 6.76% 3,582.13
2027 5,870.18 Est @ 5.26% 3,539.50
2028 6,117.32 Est @ 4.21% 3,462.48
2029 6,329.90 Est @ 3.48% 3,363.25
Present value of next 10 years cash flows NOK32,033.00
OB:LSG DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= NOK6,329.90 × (1 + 1.76%) ÷ (6.53% – 1.76%)
NOK135,094.52
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= NOK135,094.52 ÷ (1 + 6.53%)10
NOK71,779.43
OB:LSG Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= NOK32,033.00 + NOK71,779.43
NOK103,812.43
Equity Value per Share
(NOK)
= Total value / Shares Outstanding
= NOK103,812.43 / 595.48
NOK174.34
OB:LSG Discount to Share Price
Calculation Result
Value per share (NOK) From above. NOK174.34
Current discount Discount to share price of NOK54.78
= -1 x (NOK54.78 - NOK174.34) / NOK174.34
68.6%

Learn more about our DCF calculations in Simply Wall St’s analysis model .

Current Discount
Amount off the current price Lerøy Seafood Group is available for.
Intrinsic value
>50%
Share price is NOK54.78 vs Future cash flow value of NOK174.34
Current Discount Checks
For Lerøy Seafood Group to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Lerøy Seafood Group's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Lerøy Seafood Group's share price is below the future cash flow value, and at a substantial discount (> 40%).
PRICE RELATIVE TO MARKET
We can also value a company based on what the stock market is willing to pay for it. This is similar to the price of fruit (e.g. Mangoes or Avocados) increasing when they are out of season, or how much your home is worth.

The amount the stock market is willing to pay for Lerøy Seafood Group's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Lerøy Seafood Group's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:LSG PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in NOK NOK3.47
OB:LSG Share Price ** OB (2019-09-13) in NOK NOK54.78
Norway Food Industry PE Ratio Median Figure of 9 Publicly-Listed Food Companies 15.79x
Norway Market PE Ratio Median Figure of 149 Publicly-Listed Companies 13.32x

* Trailing twelve months (TTM) annual GAAP earnings per share excluding extraordinary items.

** Primary Listing of Lerøy Seafood Group.

OB:LSG PE (Price to Earnings) Ratio Calculation
Calculation Outcome
PE Ratio

= OB:LSG Share Price ÷ EPS (both in NOK)

= 54.78 ÷ 3.47

15.79x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Lerøy Seafood Group is good value based on earnings compared to the NO Food industry average.
  • Lerøy Seafood Group is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Lerøy Seafood Group's expected growth come at a high price?
Raw Data
OB:LSG PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 15.79x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts
16.7%per year
Norway Food Industry PEG Ratio Median Figure of 9 Publicly-Listed Food Companies 0.94x
Norway Market PEG Ratio Median Figure of 110 Publicly-Listed Companies 0.72x

*Line of best fit is calculated by linear regression .

OB:LSG PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 15.79x ÷ 16.7%

0.94x

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Lerøy Seafood Group is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Lerøy Seafood Group's assets?
Raw Data
OB:LSG PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in NOK NOK27.07
OB:LSG Share Price * OB (2019-09-13) in NOK NOK54.78
Norway Food Industry PB Ratio Median Figure of 11 Publicly-Listed Food Companies 3.57x
Norway Market PB Ratio Median Figure of 238 Publicly-Listed Companies 1.13x
OB:LSG PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:LSG Share Price ÷ Book Value per Share (both in NOK)

= 54.78 ÷ 27.07

2.02x

* Primary Listing of Lerøy Seafood Group.

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Lerøy Seafood Group is good value based on assets compared to the NO Food industry average.
X
Value checks
We assess Lerøy Seafood Group's value by looking at:
  1. Is the discounted cash flow value less than 20%, or 40% of the share price? (2 checks) ( Click here or on bar chart for details of DCF calculation. )
  2. Is the PE ratio less than the market average, and/ or less than the Food industry average (and greater than 0)? (2 checks)
  3. Is the PEG ratio within a reasonable range (0 to 1)? (1 check)
  4. Is the PB ratio less than the Food industry average (and greater than 0)? (1 check)
  5. Lerøy Seafood Group has a total score of 5/6, see the detailed checks below.

    Note: We use GAAP Earnings per Share in all our calculations including PE and PEG Ratio.

    Full details on the Value part of the Simply Wall St company analysis model.

LSG Future Performance

 How is Lerøy Seafood Group expected to perform in the next 1 to 3 years based on estimates from 6 analysts?

The future performance of a company is measured in the same way as past performance, by looking at estimated growth and how much profit it is expected to make.

Future estimates come from professional analysts. Just like forecasting the weather, they don’t always get it right!
Annual Growth Rate
16.7%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Lerøy Seafood Group expected to grow at an attractive rate?
  • Lerøy Seafood Group's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Lerøy Seafood Group's earnings growth is expected to exceed the Norway market average.
  • Lerøy Seafood Group's revenue growth is positive but not above the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:LSG Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:LSG Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 6 Analysts 16.7%
OB:LSG Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 6 Analysts 4%
Norway Food Industry Earnings Growth Rate Market Cap Weighted Average 13%
Norway Food Industry Revenue Growth Rate Market Cap Weighted Average 6.1%
Norway Market Earnings Growth Rate Market Cap Weighted Average 15.1%
Norway Market Revenue Growth Rate Market Cap Weighted Average 4%

*Line of best fit is calculated by linear regression .

Industry and Market average data is calculated daily.

Learn more about our growth rate calculations in Simply Wall St’s analysis model.

Analysts growth expectations
Raw Data
OB:LSG Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
All numbers in NOK Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:LSG Future Estimates Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 24,946 4,164 1
2021-12-31 22,958 3,922 3,742 5
2020-12-31 22,367 3,812 3,438 6
2019-12-31 21,796 3,115 2,706 6
2019-09-14
OB:LSG Past Financials Data
Date (Data in NOK Millions) Revenue Cash Flow Net Income *
2019-06-30 19,882 2,333 2,065
2019-03-31 19,584 2,069 2,448
2018-12-31 19,838 2,783 3,437
2018-09-30 19,065 2,726 3,096
2018-06-30 18,982 3,296 2,870
2018-03-31 18,165 3,155 2,899
2017-12-31 18,624 3,688 1,749
2017-09-30 18,981 3,269 3,632
2017-06-30 18,876 3,036 3,669
2017-03-31 18,913 3,518 2,969
2016-12-31 17,269 2,767 3,224
2016-09-30 15,909 2,298 2,165

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Lerøy Seafood Group's earnings are expected to grow by 16.7% yearly, however this is not considered high growth (20% yearly).
  • Lerøy Seafood Group's revenue is expected to grow by 4% yearly, however this is not considered high growth (20% yearly).
Past and Future Earnings per Share
The accuracy of the analysts who estimate the future performance data can be gauged below. We look back 3 years and see if they were any good at predicting what actually occurred. We also show the highest and lowest estimates looking forward to see if there is a wide range.
Raw Data
OB:LSG Past and Future Earnings per Share
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below

All data from Lerøy Seafood Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:LSG Future Estimates Data
Date (Data in NOK Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 6.99 6.99 6.99 1.00
2021-12-31 6.28 6.62 5.94 5.00
2020-12-31 5.77 6.44 5.21 6.00
2019-12-31 4.54 4.80 4.34 5.00
2019-09-14
OB:LSG Past Financials Data
Date (Data in NOK Millions) EPS *
2019-06-30 3.47
2019-03-31 4.11
2018-12-31 5.77
2018-09-30 5.20
2018-06-30 4.82
2018-03-31 4.86
2017-12-31 2.94
2017-09-30 6.15
2017-06-30 6.29
2017-03-31 5.10
2016-12-31 5.65
2016-09-30 3.84

*GAAP earnings excluding extraordinary items.

Performance in 3 years
In the same way as past performance we look at the future estimated return (profit) compared to the available funds. We do this looking forward 3 years.
  • Lerøy Seafood Group is not expected to efficiently use shareholders’ funds in the future (Return on Equity less than 20%).
X
Future performance checks
We assess Lerøy Seafood Group's future performance by looking at:
  1. Is the annual earnings growth rate expected to beat the low risk savings rate, plus a premium to keep pace with inflation?
  2. Is the annual earnings growth rate expected to beat the average growth rate in earnings of the Norway market? (1 check)
  3. Is the annual revenue growth rate expected to beat the average growth rate in revenue of the Norway market? (1 check)
  4. Is the annual earnings growth rate expected to be above 20%? (1 check)
  5. Is the annual revenue growth rate expected to be above 20%? (1 check)
  6. Is the Return on Equity in 3 years expected to be over 20%? (1 check)
Some of the above checks will fail if the company is expected to be loss making in the relevant year.
Lerøy Seafood Group has a total score of 2/6, see the detailed checks below.

Note 1: We use GAAP Net Income Excluding Exceptional Items for our Earnings in all our calculations.

Full details on the Future part of the Simply Wall St company analysis model.

LSG Past Performance

  How has Lerøy Seafood Group performed over the past 5 years?

The past performance of a company can be measured by how much growth it has experienced and how much profit it makes relative to the funds and assets it has available.
Past earnings growth
Below we compare Lerøy Seafood Group's growth in the last year to its industry (Food).
Past Earnings growth analysis
We also check if the company has grown in the past 5 years, and whether it has maintained that growth in the year.
  • Lerøy Seafood Group has delivered over 20% year on year earnings growth in the past 5 years.
  • Lerøy Seafood Group's 1-year earnings growth is negative, it can't be compared to the 5-year average.
  • Lerøy Seafood Group's 1-year earnings growth is negative, it can't be compared to the NO Food industry average.
Earnings and Revenue History
Lerøy Seafood Group's revenue and profit over the past 5 years is shown below, any years where they have experienced a loss will show up in red.
Raw Data

All data from Lerøy Seafood Group Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:LSG Past Revenue, Cash Flow and Net Income Data
Date (Data in NOK Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 19,881.90 2,064.60 2,800.43
2019-03-31 19,583.66 2,447.50 2,737.69
2018-12-31 19,837.64 3,437.04 2,668.83
2018-09-30 19,064.50 3,096.35 2,612.26
2018-06-30 18,982.11 2,870.42 2,552.93
2018-03-31 18,164.66 2,898.93 2,491.93
2017-12-31 18,623.52 1,749.49 2,438.26
2017-09-30 18,981.30 3,631.72 2,395.24
2017-06-30 18,875.66 3,668.61 2,250.55
2017-03-31 18,913.22 2,968.96 2,061.32
2016-12-31 17,269.28 3,224.14 1,785.54
2016-09-30 15,909.13 2,165.13 1,578.36
2016-06-30 14,936.03 2,050.29 1,483.39
2016-03-31 13,997.76 1,687.57 1,453.85
2015-12-31 13,450.73 1,179.72 1,411.02
2015-09-30 13,147.79 1,037.20 1,375.27
2015-06-30 12,815.01 909.94 1,345.21
2015-03-31 12,668.08 1,009.59 1,316.61
2014-12-31 12,579.47 1,055.92 1,270.88
2014-09-30 12,547.68 1,322.71 1,233.65
2014-06-30 12,276.15 1,263.05 1,185.17
2014-03-31 11,612.58 1,434.60 1,133.43
2013-12-31 10,764.71 1,733.35 1,094.46
2013-09-30 9,945.66 1,103.90 1,065.66
2013-06-30 9,478.06 1,066.54 1,038.88
2013-03-31 9,270.89 734.99 1,038.40
2012-12-31 9,102.94 480.80 1,031.87
2012-09-30 8,942.99 236.69 1,005.69

*GAAP earnings excluding extraordinary items.

Performance last year
We want to ensure a company is making the most of what it has available. This is done by comparing the return (profit) to a company's available funds, assets and capital.
  • Lerøy Seafood Group has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Lerøy Seafood Group used its assets less efficiently than the NO Food industry average last year based on Return on Assets.
  • Lerøy Seafood Group's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Lerøy Seafood Group's performance over the past 5 years by checking for:
  1. Has earnings increased in past 5 years? (1 check)
  2. Has the earnings growth in the last year exceeded that of the Food industry? (1 check)
  3. Is the recent earnings growth over the last year higher than the average annual growth over the past 5 years? (1 check)
  4. Is the Return on Equity (ROE) higher than 20%? (1 check)
  5. Is the Return on Assets (ROA) above industry average? (1 check)
  6. Has the Return on Capital Employed (ROCE) increased from 3 years ago? (1 check)
The above checks will fail if the company has reported a loss in the most recent earnings report. Some checks require at least 3 or 5 years worth of data.
Lerøy Seafood Group has a total score of 1/6, see the detailed checks below.

Note: We use GAAP Net Income excluding extraordinary items in all our calculations.

Full details on the Past part of the Simply Wall St company analysis model.

LSG Health

 How is Lerøy Seafood Group's financial health and their level of debt?

A company's financial position is much like your own financial position, it includes everything you own (assets) and owe (liabilities).

The boxes below represent the relative size of what makes up Lerøy Seafood Group's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Lerøy Seafood Group is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Lerøy Seafood Group's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Lerøy Seafood Group's finances. If any of them are yellow this indicates they may be out of proportion and red means they relate to one of the checks below.
Assets
Liabilities and shares
The 'shares' portion represents any funds contributed by the owners (shareholders) and any profits.
  • High level of physical assets or inventory.
  • Debt is covered by short term assets, assets are 2.5x debt.
Historical Debt
Nearly all companies have debt. Debt in itself isn’t bad, however if the debt is too high, or the company can’t afford to pay the interest on its debts this may have impacts in the future.

The graphic below shows equity (available funds) and debt, we ideally want to see the red area (debt) decreasing.

If there is any debt we look at the companies capability to repay it, and whether the level has increased over the past 5 years.
Raw Data

All data from Lerøy Seafood Group Company Filings, last reported 2 months ago.

OB:LSG Past Debt and Equity Data
Date (Data in NOK Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 17,047.21 4,631.21 1,896.10
2019-03-31 17,592.42 4,876.18 2,948.59
2018-12-31 17,134.29 4,697.31 3,036.15
2018-09-30 16,742.42 5,626.48 2,515.33
2018-06-30 16,187.87 6,022.69 3,009.97
2018-03-31 16,008.02 6,081.67 3,870.64
2017-12-31 14,482.12 5,062.65 3,514.10
2017-09-30 14,468.37 5,767.63 3,034.20
2017-06-30 14,213.08 5,681.31 2,491.60
2017-03-31 13,784.48 5,604.91 3,331.68
2016-12-31 13,475.43 5,208.68 2,233.70
2016-09-30 12,367.18 4,660.03 1,944.31
2016-06-30 11,237.22 3,484.67 3,491.19
2016-03-31 9,292.01 3,562.23 1,469.86
2015-12-31 8,764.05 3,434.45 1,247.61
2015-09-30 7,835.86 3,588.07 1,053.58
2015-06-30 7,574.58 3,675.94 1,064.63
2015-03-31 8,118.86 3,206.25 1,314.01
2014-12-31 8,079.60 2,906.70 1,360.27
2014-09-30 7,282.27 3,388.69 1,181.41
2014-06-30 7,231.10 2,816.49 766.11
2014-03-31 7,571.81 2,844.25 1,095.86
2013-12-31 7,548.95 2,706.20 872.51
2013-09-30 6,512.35 3,035.39 831.15
2013-06-30 6,428.37 3,060.56 804.39
2013-03-31 6,389.99 3,065.30 1,188.61
2012-12-31 5,963.96 3,045.36 1,082.80
2012-09-30 5,653.81 3,379.79 1,138.77
  • Lerøy Seafood Group's level of debt (27.2%) compared to net worth is satisfactory (less than 40%).
  • The level of debt compared to net worth has been reduced over the past 5 years (33.3% vs 27.2% today).
  • Debt is well covered by operating cash flow (50.4%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 13.8x coverage).
X
Financial health checks
We assess Lerøy Seafood Group's financial health by checking for:
  1. Are short term assets greater than short term liabilities? (1 check)
  2. Are short term assets greater than long term liabilities? (1 check)
  3. Has the debt to equity ratio increased in the past 5 years? (1 check)
  4. Is the debt to equity ratio over 40%? (1 check)
  5. Is the debt covered by operating cash flow? (1 check)
  6. Are earnings greater than 5x the interest on debt (if company pays interest at all)? (1 check)
  7. Lerøy Seafood Group has a total score of 6/6, see the detailed checks below.
For companies that are loss making and have been so on average in the past we replace the last 2 checks with:
  1. Does cash and short term investments cover stable operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)
  2. Does cash and short term investments cover growing operating expenses (recurring G&A and R&D) for more than 3 years? (1 check)


Full details on the Health part of the Simply Wall St company analysis model.

LSG Dividends

 What is Lerøy Seafood Group's current dividend yield, its reliability and sustainability?

Dividends are regular cash payments to you from the company, similar to a bank paying you interest on a savings account.
Annual Dividend Income
Dividend payments
3.65%
Current annual income from Lerøy Seafood Group dividends. Estimated to be 4.43% next year.
If you bought NOK2,000 of Lerøy Seafood Group shares you are expected to receive NOK73 in your first year as a dividend.
Dividend Amount
Here we look how much dividend is being paid, if any. Is it above what you can get in a savings account? It is up there with the best dividend paying companies?
  • Lerøy Seafood Group's pays a higher dividend yield than the bottom 25% of dividend payers in Norway (2.49%).
  • Lerøy Seafood Group's dividend is below the markets top 25% of dividend payers in Norway (6.47%).
Annualized Historical and Future Dividends
It is important to see if the dividend for a company is stable, and not wildly increasing/decreasing each year. This graph shows you the historical rate to count toward your assessment of the stock.

We also check to see if the dividend has increased in the past 10 years.
Raw Data
OB:LSG Annualized Past and Future Dividends
Data Point Source Value
Past Annualized Dividend Yield S&P Global Market Data See Below
Past Dividends per Share Company Filings/ Annualized Dividend Payments See Below
Future Dividends per Share Estimates Average of up to 6 Analyst Estimates (S&P Global) See Below
Norway Food Industry Average Dividend Yield Market Cap Weighted Average of 9 Stocks 4.2%
Norway Market Average Dividend Yield Market Cap Weighted Average of 115 Stocks 4.5%
Norway Minimum Threshold Dividend Yield 10th Percentile 1.5%
Norway Bottom 25% Dividend Yield 25th Percentile 2.5%
Norway Top 25% Dividend Yield 75th Percentile 6.5%

Industry and Market average data is calculated daily.

Note all dividend per share amounts are annualized and not quarterly or other period.

OB:LSG Future Dividends Estimate Data
Date (Data in NOK) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 3.50 1.00
2021-12-31 2.62 5.00
2020-12-31 2.35 6.00
2019-12-31 2.17 6.00
2019-09-14
OB:LSG Past Annualized Dividends Data
Date (Data in NOK) Dividend per share (annual) Avg. Yield (%)
2019-05-23 2.000 3.384
2018-04-19 1.500 2.345
2017-04-21 1.300 2.780
2016-04-28 1.200 2.856
2016-02-23 1.200 3.143
2015-04-17 1.200 4.176
2015-02-24 1.200 4.842
2014-04-23 1.000 4.246
2014-02-25 1.000 5.302
2013-04-10 0.700 4.109
2013-02-26 0.700 4.377
2012-04-13 0.700 6.201
2012-02-23 0.700 7.438
2011-04-07 1.000 9.960
2011-02-23 1.000 6.045
2010-04-23 0.700 4.742
2010-02-25 0.700 4.935
2009-04-07 0.280 2.785
2009-02-26 0.280 5.181

Learn more about our ratios and growth rates in Simply Wall St’s analysis model >

  • Dividends per share have been volatile in the past 10 years (annual drop of over 20%).
  • Dividends per share have increased over the past 10 years.
Current Payout to shareholders
What portion of Lerøy Seafood Group's earnings are paid to the shareholders as a dividend.
  • Dividends paid are covered by earnings (1.7x coverage).
Future Payout to shareholders
  • Dividends after 3 years are expected to be well covered by earnings (2.2x coverage).
X
Income/ dividend checks
We assess Lerøy Seafood Group's dividend by checking for:
  1. Firstly is the company paying a notable dividend (greater than 1.5%) - if not then the rest of the checks are ignored.
  2. Is current dividend yield above the bottom 25% of dividend payers? (1 check)
  3. Is current dividend yield above the top 25% of dividend payers? (1 check)
  4. Have they paid a dividend for 10 years, and during this period has the dividend been volatile (drop of more than 25%)? (1 check)
  5. If they have paid a dividend for 10 years has it increased in this time? (1 check)
  6. How sustainable is the dividend, can Lerøy Seafood Group afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Lerøy Seafood Group has a total score of 4/6, see the detailed checks below.


Full details on the Dividends part of the Simply Wall St company analysis model.

LSG Management

 What is the CEO of Lerøy Seafood Group's salary, the management and board of directors tenure and is there insider trading?

Management is one of the most important areas of a company. We look at unreasonable CEO compensation, how long the team and board of directors have been around for and insider trading.
CEO
Henning Beltestad
AGE 51
TENURE AS CEO 9.5 years
CEO Bio

Mr. Henning Kolbjørn Beltestad serves as Group Chief Executive Officer at Lerøy Seafood Group ASA since March 2010 and is its Director. Mr. Beltestad serves as Managing Director of Hallvard Lerøy AS. Mr. Beltestad served as Vice Chief Executive Officer at Lerøy Seafood Group Asa and served as its Vice President of Market. He has had many different roles at Hallvard Lerøy AS since 1993. He holds a Bachelor of Commerce degree in international marketing from the Norwegian School of Management. He is graduate of Economics from Norwegian School of Management.

CEO Compensation
  • Insufficient data for Henning to compare compensation growth.
  • Insufficient data for Henning to establish whether their remuneration is reasonable compared to companies of similar size in Norway.
Management Team Tenure

Average tenure and age of the Lerøy Seafood Group management team in years:

6.9
Average Tenure
52.5
Average Age
  • The average tenure for the Lerøy Seafood Group management team is over 5 years, this suggests they are a seasoned and experienced team.
Management Team

Henning Beltestad

TITLE
Group CEO
AGE
51
TENURE
9.5 yrs

Sjur Malm

TITLE
Chief Financial Officer
TENURE
6.9 yrs

Krister Hoaas

TITLE
Manager of Public Affairs

Ivar Wulff

TITLE
Chief Operating Officer of Sales & Distribution
AGE
45
TENURE
0.7 yrs

Siren Grønhaug

TITLE
Group Director of HR
COMPENSATION
NOK2M
AGE
54
TENURE
0.6 yrs

Stig Nilsen

TITLE
Chief Operating Officer of Farming
AGE
61
TENURE
9.7 yrs

Webjorn Barstad

TITLE
Chief Operating Officer of Wild Catch
Board of Directors Tenure

Average tenure and age of the Lerøy Seafood Group board of directors in years:

8.8
Average Tenure
53
Average Age
  • The tenure for the Lerøy Seafood Group board of directors is about average.
Board of Directors

Helge Singelstad

TITLE
Chairman of the Board
COMPENSATION
NOK364K
AGE
56

Didrik Munch

TITLE
Director
AGE
63
TENURE
7.3 yrs

Hans Vestre

TITLE
Employee Representative Director
AGE
53
TENURE
24.4 yrs

Britt Drivenes

TITLE
Director
AGE
56
TENURE
11.3 yrs

Arne Møgster

TITLE
Director
AGE
44
TENURE
10.3 yrs

Karoline Møgster

TITLE
Director
AGE
39
TENURE
2.3 yrs

Siri Mannes

TITLE
Director
AGE
49
TENURE
1.3 yrs
Who owns this company?
Recent Insider Trading
  • No 3 month open market individual insider trading information.
Recent Insider Transactions
Announced Type Name Entity Role Start End Shares Max Price (NOK) Value (NOK)
X
Management checks
We assess Lerøy Seafood Group's management by checking for:
  1. Is the CEO's compensation unreasonable compared to market cap? (1 check)
  2. Has the CEO's compensation increased more than 20% whilst the EPS is down more then 20%? (1 check)
  3. Is the average tenure of the management team less than 2 years? (1 check)
  4. Is the average tenure of the board of directors team less than 3 years? (1 check)
  5. Lerøy Seafood Group has a total score of 0/6, this is not included on the snowflake, see the detailed checks below.


Note: We use the top 6 management executives and board members in our calculations.

Note 2: Insider trading include any internal stakeholders and these transactions .

Full details on the Management part of the Simply Wall St company analysis model.

LSG News

Simply Wall St News

Do Investors Have Good Reason To Be Wary Of Lerøy Seafood Group ASA's (OB:LSG) 3.3% Dividend Yield?

Lerøy Seafood Group paid out 153% of its free cash flow last year, which we think is concerning if cash flows do not improve. … Were it to repeatedly pay dividends that were not well covered by cash flow, this could be a risk to Lerøy Seafood Group's ability to maintain its dividend. … Lerøy Seafood Group gets a pass on its dividend payout ratio, but it paid out virtually all of its cash flow as dividends.

Simply Wall St -

Can We See Significant Institutional Ownership On The Lerøy Seafood Group ASA (OB:LSG) Share Register?

A look at the shareholders of Lerøy Seafood Group ASA (OB:LSG) can tell us which group is most powerful. … Check out our latest analysis for Lerøy Seafood Group OB:LSG Ownership Summary, August 18th 2019 What Does The Institutional Ownership Tell Us About Lerøy Seafood Group? … Insider Ownership Of Lerøy Seafood Group The definition of an insider can differ slightly between different countries, but members of the board of directors always count.

Simply Wall St -

What Should We Expect From Lerøy Seafood Group ASA's (OB:LSG) Earnings Over The Next Year?

In March 2019, Lerøy Seafood Group ASA (OB:LSG) released its earnings update. … See our latest analysis for Lerøy Seafood Group Exciting times ahead? … To reduce the year-on-year volatility of analyst earnings forecast, I've inserted a line of best fit through the expected earnings figures to determine the annual growth rate from the slope of the line.

Simply Wall St -

Lerøy Seafood Group (OB:LSG) Has A Somewhat Strained Balance Sheet

OB:LSG Historical Debt, July 30th 2019 A Look At Lerøy Seafood Group's Liabilities The latest balance sheet data shows that Lerøy Seafood Group had liabilities of øre4.04b due within a year, and liabilities of øre8.27b falling due after that. … Looking at the most recent three years, Lerøy Seafood Group recorded free cash flow of 41% of its EBIT, which is weaker than we'd expect. … Our View Neither Lerøy Seafood Group's ability to grow its EBIT nor its conversion of EBIT to free cash flow gave us confidence in its ability to take on more debt.

Simply Wall St -

Should Lerøy Seafood Group ASA’s (OB:LSG) Weak Investment Returns Worry You?

Analysts use this formula to calculate return on capital employed: Return on Capital Employed = Earnings Before Interest and Tax (EBIT) ÷ (Total Assets - Current Liabilities) Or for Lerøy Seafood Group: 0.11 = øre2.9b ÷ (øre30b - øre4.0b) (Based on the trailing twelve months to March 2019.) So, Lerøy Seafood Group has an ROCE of 11%. … Check out our latest analysis for Lerøy Seafood Group Is Lerøy Seafood Group's ROCE Good? … Do Lerøy Seafood Group's Current Liabilities Skew Its ROCE?

Simply Wall St -

Should We Worry About Lerøy Seafood Group ASA's (OB:LSG) P/E Ratio?

We'll look at Lerøy Seafood Group ASA's (OB:LSG) P/E ratio and reflect on what it tells us about the company's share price. … View our latest analysis for Lerøy Seafood Group How Do You Calculate Lerøy Seafood Group's P/E Ratio? … The formula for P/E is: Price to Earnings Ratio = Share Price ÷ Earnings per Share (EPS) Or for Lerøy Seafood Group: P/E of 14.34 = NOK59 ÷ NOK4.11 (Based on the trailing twelve months to March 2019.) Is A High Price-to-Earnings Ratio Good?

Simply Wall St -

Why Investors Should Run Towards Lerøy Seafood Group ASA (OB:LSG)

High quality stocks such as Lerøy Seafood Group ASA has fared well over time in a fickle stock market, which is why I want to bring it into light amongst all the chaos. … This consistent market outperformance illustrates a robust track record of delivering strong returns over a number of years, increasing my conviction in Lerøy Seafood Group as an investment over the long run. … Lerøy Seafood Group tick the boxes in terms of its scale, financial health and proven track record, but there are a few other things I have yet to consider.

Simply Wall St -

Does Lerøy Seafood Group ASA's (OB:LSG) Stock Price Account For Its Growth?

Lerøy Seafood Group ASA (OB:LSG) is a stock well-positioned for future growth, but many investors are wondering whether its last closing price of NOK58.92 is based on unrealistic expectations. … However, to be able to properly assess the value of a high-growth stock such as Lerøy Seafood Group, we must incorporate its earnings growth in our valuation. … So, when we include the growth factor in our analysis, Lerøy Seafood Group appears slightly overvalued , based on the fundamentals.

Simply Wall St -

Is Lerøy Seafood Group ASA's (OB:LSG) Balance Sheet A Threat To Its Future?

On top of this, LSG has generated øre2.1b in operating cash flow during the same period of time, resulting in an operating cash to total debt ratio of 29%, signalling that LSG’s current level of operating cash is high enough to cover debt. … Looking at LSG’s øre4.0b in current liabilities, it appears that the company has been able to meet these obligations given the level of current assets of øre12b, with a current ratio of 3.05x. … Next Steps: LSG’s high cash coverage means that, although its debt levels are high, the company is able to utilise its borrowings efficiently in order to generate cash flow.

Simply Wall St -

Where Lerøy Seafood Group ASA's (OB:LSG) Earnings Growth Stands Against Its Industry

When Lerøy Seafood Group ASA's (OB:LSG) announced its latest earnings (31 March 2019), I wanted to understand how these figures stacked up against its past performance. … The two benchmarks I used were Lerøy Seafood Group's average earnings over the past couple of years, and its industry performance. … Furthermore, its return on assets (ROA) of 8.8% is below the NO Food industry of 13%, indicating Lerøy Seafood Group's are utilized less efficiently.

Simply Wall St -

LSG Company Info

Description

Lerøy Seafood Group ASA produces, processes, markets, and distributes fresh, frozen, and smoked seafood products in Norway. It operates through Farming; Wildcatch; and Value-Added Processing, Sales and Distribution segments. The company offers whole and processed salmon, whitefish, trout, shellfish, pelagic fish, and other products to shops, restaurants, canteens, and hotels. It also operates in the European Union, Asia, the United States and Canada, rest of Europe, and other countries. The company was founded in 1899 and is headquartered in Bergen, Norway. Lerøy Seafood Group ASA is a subsidiary of Austevoll Seafood ASA.

Details
Name: Lerøy Seafood Group ASA
LSG
Exchange: OB
Founded: 1899
NOK32,620,170,897
595,475,920
Website: http://www.leroyseafood.com
Address: Lerøy Seafood Group ASA
Thormøhlens gate 51 B,
Bergen,
Hordaland, 5006,
Norway
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB LSG Ordinary Shares Oslo Bors NO NOK 10. Nov 2000
OTCPK LYSF.F Ordinary Shares Pink Sheets LLC US USD 10. Nov 2000
DB Z1L Ordinary Shares Deutsche Boerse AG DE EUR 10. Nov 2000
LSE 0GM2 Ordinary Shares London Stock Exchange GB NOK 10. Nov 2000
BATS-CHIXE LSGO Ordinary Shares BATS 'Chi-X Europe' GB NOK 10. Nov 2000
OTCPK LYSF.Y UNSPONSORED ADR Pink Sheets LLC US USD 28. May 2014
Number of employees
Current staff
Staff numbers
4,589
Lerøy Seafood Group employees.
Industry
Packaged Foods and Meats
Food, Beverage & Tobacco
Company Analysis and Financial Data Status
Area Date (UTC time)
Company Analysis updated: 2019/09/14 20:38
End of day share price update: 2019/09/13 00:00
Last estimates confirmation: 2019/08/30
Last earnings filing: 2019/08/21
Last earnings reported: 2019/06/30
Last annual earnings reported: 2018/12/31


All dates and times in UTC. All financial data provided by Standard & Poor’s Capital IQ.

Unless specified all financial data is based on a yearly period but updated quarterly. This is known as Trailing Twelve Month (TTM) or Last Twelve Month (LTM) Data. Learn more here.