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Scottish Salmon

OB:SSC
Snowflake Description

Flawless balance sheet with high growth potential.

The Snowflake is generated from 30 checks in 5 different areas, read more below.
SSC
OB
NOK5B
Market Cap
  1. Home
  2. NO
  3. Food, Beverage & Tobacco
Company description

The Scottish Salmon Company PLC produces, processes, markets, and sells Scottish seafood products primarily in Scotland. The last earnings update was 15 days ago. More info.


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SSC Share Price and Events
7 Day Returns
2%
OB:SSC
-4.8%
NO Food
2.6%
NO Market
1 Year Returns
76.6%
OB:SSC
3.4%
NO Food
-9.1%
NO Market
SSC Shareholder Return
  7 Day 30 Day 90 Day 1 Year 3 Year 5 Year
Scottish Salmon (SSC) 2% 7.3% 16.4% 76.6% 260.6% 449.4%
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
  • SSC outperformed the Food industry which returned 3.4% over the past year.
  • SSC outperformed the Market in Norway which returned -9.1% over the past year.
Price Volatility
SSC
Industry
5yr Volatility vs Market

Value

 Is Scottish Salmon 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 Scottish Salmon 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 Scottish Salmon.

OB:SSC Discounted Cash Flow Data Sources
Data Point Source Value
Valuation Model 2 Stage Free Cash Flow to Equity
Levered Free Cash Flow Average of 3 Analyst Estimates (S&P Global) See below
Discount Rate (Cost of Equity) See below 7.1%
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:SSC
Data Point Calculation/ Source Result
Risk-Free Rate 10-Year NO Govt Bond Rate 1.8%
Equity Risk Premium S&P Global 6.7%
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- 19%) (12.94%))
0.734
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 * 6.65%)
7.08%

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

The calculations below outline how an intrinsic value for Scottish Salmon 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:SSC DCF 1st Stage: Next 10 year cash flow forecast
Levered FCF (GBP, Millions) Source Present Value
Discounted (@ 7.08%)
2020 32.90 Analyst x2 30.72
2021 32.85 Analyst x2 28.65
2022 32.99 Est @ 0.43% 26.87
2023 33.26 Est @ 0.83% 25.30
2024 33.63 Est @ 1.11% 23.89
2025 34.07 Est @ 1.3% 22.60
2026 34.56 Est @ 1.44% 21.41
2027 35.09 Est @ 1.54% 20.30
2028 35.66 Est @ 1.6% 19.26
2029 36.25 Est @ 1.65% 18.29
Present value of next 10 years cash flows £237.00
OB:SSC DCF 2nd Stage: Terminal Value
Calculation Result
Terminal Value = FCF2029 × (1 + g) ÷ (Discount Rate – g)
= £36.25 × (1 + 1.76%) ÷ (7.08% – 1.76%)
£693.29
Present Value of Terminal Value = Terminal Value ÷ (1 + r)10
= £693.29 ÷ (1 + 7.08%)10
£349.81
OB:SSC Total Equity Value
Calculation Result
Total Equity Value = Present value of next 10 years cash flows + Terminal Value
= £237.00 + £349.81
£586.81
Equity Value per Share
(GBP)
= Total value / Shares Outstanding
= £586.81 / 193.88
£3.03
OB:SSC Discount to Share Price
Calculation Result
Exchange Rate GBP/NOK
(Reporting currency to currency of OB:SSC)
11.17
Value per Share
(NOK)
= Value per Share in GBP x Exchange Rate (GBP/NOK)
= £3.03 x 11.17
NOK33.81
Value per share (NOK) From above. NOK33.81
Current discount Discount to share price of NOK25.60
= -1 x (NOK25.60 - NOK33.81) / NOK33.81
24.3%

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

Current Discount
Amount off the current price Scottish Salmon is available for.
Intrinsic value
24%
Share price is NOK25.6 vs Future cash flow value of NOK33.81
Current Discount Checks
For Scottish Salmon to be considered undervalued it must be available for at least 20% below the current price. Less than 40% is even better.
  • Scottish Salmon's share price is below the future cash flow value, and at a moderate discount (> 20%).
  • Scottish Salmon's share price is below the future cash flow value, but not 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 Scottish Salmon's earnings, growth and assets is considered below, and whether this is a fair price.
Price based on past earnings
Are Scottish Salmon's earnings available for a low price, and how does this compare to other companies in the same industry?
Raw Data
OB:SSC PE (Price to Earnings) Ratio Data Sources
Data Point Source Value
Earnings Per Share * Company Filings (2019-06-30) in GBP £0.15
OB:SSC Share Price ** OB (2019-09-13) in NOK NOK25.6
OB:SSC Share Price converted to GBP reporting currency Exchange rate (NOK/ GBP) 0.09 £2.29
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 Scottish Salmon.

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

= OB:SSC Share Price ÷ EPS (both in GBP)

= 2.29 ÷ 0.15

14.84x

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

  • Scottish Salmon is good value based on earnings compared to the NO Food industry average.
  • Scottish Salmon is overvalued based on earnings compared to the Norway market.
Price based on expected Growth
Does Scottish Salmon's expected growth come at a high price?
Raw Data
OB:SSC PEG (Price to Earnings to Growth) Ratio Data Sources
Data Point Source Value
PE Ratio See PE Ratio Section 14.84x
Net Income Annual Growth Rate See Future Growth Section.
Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts
20.8%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:SSC PEG (Price to Earnings to Growth) Ratio Calculation
Calculation Outcome
PEG Ratio

= PE Ratio ÷ Net Income Annual Growth Rate

= 14.84x ÷ 20.8%

0.71x

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

  • Scottish Salmon is good value based on expected growth next year.
Price based on value of assets
What value do investors place on Scottish Salmon's assets?
Raw Data
OB:SSC PB (Price to Book) Ratio Data Sources
Data Point Source Value
Book Value per Share Company Filings (2019-06-30) in GBP £0.81
OB:SSC Share Price * OB (2019-09-13) in NOK NOK25.6
OB:SSC Share Price converted to GBP reporting currency Exchange rate (NOK/ GBP) 0.09 £2.29
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:SSC PB (Price to Book) Ratio Calculation
Calculation Outcome
PB Ratio

= OB:SSC Share Price ÷ Book Value per Share (both in GBP)

= 2.29 ÷ 0.81

2.82x

* Primary Listing of Scottish Salmon.

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

  • Scottish Salmon is good value based on assets compared to the NO Food industry average.
X
Value checks
We assess Scottish Salmon'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. Scottish Salmon has a total score of 4/6, 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.

Future Performance

 How is Scottish Salmon expected to perform in the next 1 to 3 years based on estimates from 3 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
20.8%
Expected annual growth in earnings.
Earnings growth vs Low Risk Savings
Is Scottish Salmon expected to grow at an attractive rate?
  • Scottish Salmon's earnings growth is expected to exceed the low risk savings rate of 1.8%.
Growth vs Market Checks
  • Scottish Salmon's earnings growth is expected to exceed the Norway market average.
  • Scottish Salmon's revenue growth is expected to exceed the Norway market average.
Annual Growth Rates Comparison
Raw Data
OB:SSC Future Growth Rates Data Sources
Data Point Source Value (per year)
OB:SSC Future Earnings Growth Rate Line of Best Fit* through Consensus Estimate Earnings of 3 Analysts 20.8%
OB:SSC Future Revenue Growth Rate Line of Best Fit* through Consensus Estimate Revenue of 3 Analysts 4.1%
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:SSC Analysts Growth Expectations Data Sources
Data Point Source Value
Past Financials Company Filings (2 months ago) See Below
Future Estimates Average of up to 3 Analyst Estimates (S&P Global) See Below
All numbers in GBP Millions and using Trailing twelve months (TTM) annual period rather than quarterly.
OB:SSC Future Estimates Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income * Avg. No. Analysts
2022-12-31 225 47 1
2021-12-31 213 47 44 3
2020-12-31 210 48 41 3
2019-12-31 197 47 23 3
2019-09-14
OB:SSC Past Financials Data
Date (Data in GBP Millions) Revenue Cash Flow Net Income *
2019-06-30 194 38 30
2019-03-31 187 38 39
2018-12-31 180 38 48
2018-09-30 179 37 37
2018-06-30 177 37 27
2018-03-31 164 28 26
2017-12-31 151 19 24
2017-09-30 139 13 26
2017-06-30 124 11 16
2017-03-31 117 12 22
2016-12-31 110 10 9
2016-09-30 107 6 11

*GAAP earnings excluding extraordinary items.

Super high growth metrics
High Growth Checks
  • Scottish Salmon's earnings are expected to grow significantly at over 20% yearly.
  • Scottish Salmon's revenue is expected to grow by 4.1% 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:SSC 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 3 Analyst Estimates (S&P Global) See Below

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

OB:SSC Future Estimates Data
Date (Data in GBP Millions) EPS * EPS High Estimate EPS Low Estimate Avg. No. Analysts
2022-12-31 0.24 0.24 0.24 1.00
2021-12-31 0.23 0.26 0.18 3.00
2020-12-31 0.21 0.23 0.18 3.00
2019-12-31 0.12 0.12 0.11 3.00
2019-09-14
OB:SSC Past Financials Data
Date (Data in GBP Millions) EPS *
2019-06-30 0.15
2019-03-31 0.20
2018-12-31 0.25
2018-09-30 0.19
2018-06-30 0.14
2018-03-31 0.13
2017-12-31 0.12
2017-09-30 0.14
2017-06-30 0.08
2017-03-31 0.11
2016-12-31 0.05
2016-09-30 0.06

*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.
  • Scottish Salmon is expected to efficiently use shareholders’ funds in the future (Return on Equity greater than 20%).
X
Future performance checks
We assess Scottish Salmon'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.
Scottish Salmon has a total score of 5/6, 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.

Past Performance

  How has Scottish Salmon 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 Scottish Salmon'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.
  • Scottish Salmon has delivered over 20% year on year earnings growth in the past 5 years.
  • Scottish Salmon's 1-year earnings growth is less than its 5-year average (10.5% vs 40%)
  • Scottish Salmon's earnings growth has exceeded the NO Food industry average in the past year (10.5% vs 3.8%).
Earnings and Revenue History
Scottish Salmon'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 Scottish Salmon Company Filings, last reported 2 months ago, and in Trailing twelve months (TTM) annual period rather than quarterly.

OB:SSC Past Revenue, Cash Flow and Net Income Data
Date (Data in GBP Millions) Revenue Net Income * G+A Expenses R&D Expenses
2019-06-30 193.65 29.88 23.78
2019-03-31 186.89 38.77 22.45
2018-12-31 180.13 47.66 21.12
2018-09-30 178.66 37.35 20.23
2018-06-30 177.20 27.04 19.34
2018-03-31 164.07 25.59 18.88
2017-12-31 150.95 24.14 18.41
2017-09-30 138.69 26.43 17.34
2017-06-30 124.38 16.28 16.22
2017-03-31 116.83 22.10 15.88
2016-12-31 109.92 8.91 15.61
2016-09-30 106.61 11.45 15.22
2016-06-30 99.42 22.09 14.89
2016-03-31 102.13 0.29 14.73
2015-12-31 100.36 0.40 14.35
2015-09-30 107.29 -4.09 14.20
2015-06-30 122.95 -9.17 14.13
2015-03-31 125.57 2.30 13.65
2014-12-31 125.92 10.93 13.26
2014-09-30 116.61 13.27 12.64
2014-06-30 101.43 16.11 11.92
2014-03-31 91.34 9.35 11.53
2013-12-31 82.40 2.67 11.23
2013-09-30 88.64 -1.76 11.65
2013-06-30 91.75 -1.01 11.44
2013-03-31 85.53 -1.41 11.43
2012-12-31 79.49 -2.90 11.45
2012-09-30 66.99 0.28 10.81

*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.
  • Scottish Salmon has not efficiently used shareholders’ funds last year (Return on Equity less than 20%).
  • Scottish Salmon used its assets more efficiently than the NO Food industry average last year based on Return on Assets.
  • Scottish Salmon's use of capital deteriorated last year versus 3 years ago (Return on Capital Employed).
X
Past performance checks
We assess Scottish Salmon'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.
Scottish Salmon has a total score of 3/6, 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.

Health

 How is Scottish Salmon'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 Scottish Salmon's finances.

The net worth of a company is the difference between its assets and liabilities.
Net Worth
  • Scottish Salmon is able to meet its short term (1 year) commitments with its holdings of cash and other short term assets.
  • Scottish Salmon's cash and other short term assets cover its long term commitments.
Balance sheet
This treemap shows a more detailed breakdown of Scottish Salmon'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 4.1x 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 Scottish Salmon Company Filings, last reported 2 months ago.

OB:SSC Past Debt and Equity Data
Date (Data in GBP Millions) Total Equity Total Debt Cash & Short Term Investments
2019-06-30 157.54 35.63 7.20
2019-03-31 157.54 35.63 7.20
2018-12-31 157.76 40.67 4.89
2018-09-30 157.76 40.67 4.89
2018-06-30 137.68 29.14 4.72
2018-03-31 137.68 29.14 4.72
2017-12-31 116.26 47.02 8.50
2017-09-30 116.26 47.02 8.50
2017-06-30 116.27 40.52 2.86
2017-03-31 116.27 40.52 2.86
2016-12-31 92.16 45.92 3.01
2016-09-30 89.20 39.26 2.80
2016-06-30 100.16 37.58 2.18
2016-03-31 83.66 44.99 4.19
2015-12-31 84.70 46.68 4.48
2015-09-30 79.87 37.13 3.23
2015-06-30 79.43 38.82 6.07
2015-03-31 83.30 39.26 2.23
2014-12-31 73.28 52.90 1.91
2014-09-30 72.99 53.23 5.03
2014-06-30 77.63 54.17 4.06
2014-03-31 70.03 52.78 0.10
2013-12-31 62.34 50.72 0.07
2013-09-30 59.72 47.40 4.12
2013-06-30 61.52 48.27 8.19
2013-03-31 60.68 49.18 8.51
2012-12-31 59.67 39.98 2.75
2012-09-30 61.48 37.74 1.32
  • Scottish Salmon's level of debt (22.6%) 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 (69.8% vs 22.6% today).
  • Debt is well covered by operating cash flow (106.6%, greater than 20% of total debt).
  • Interest payments on debt are well covered by earnings (EBIT is 21.7x coverage).
X
Financial health checks
We assess Scottish Salmon'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. Scottish Salmon 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.

Dividends

 What is Scottish Salmon'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
2.17%
Current annual income from Scottish Salmon dividends. Estimated to be 3.91% next year.
If you bought NOK2,000 of Scottish Salmon shares you are expected to receive NOK43 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?
  • Scottish Salmon's pays a lower dividend yield than the bottom 25% of dividend payers in Norway (2.49%).
  • Scottish Salmon'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:SSC 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 3 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:SSC Future Dividends Estimate Data
Date (Data in £) Dividend per Share (annual) Avg. No. Analysts
2022-12-31 0.12 1.00
2021-12-31 0.09 3.00
2020-12-31 0.09 3.00
2019-12-31 0.08 3.00
2019-09-14
OB:SSC Past Annualized Dividends Data
Date (Data in £) Dividend per share (annual) Avg. Yield (%)
2019-03-01 0.050 2.641
2018-03-02 0.030 2.658
2012-11-29 0.000 0.000
2012-08-31 0.000 0.000
2012-05-29 0.000 0.000
2012-04-17 0.000 0.000
2012-02-24 0.000 0.000
2011-05-26 0.034 11.731
2011-04-11 0.035 6.362
2011-02-16 0.035 6.405
2010-11-25 0.039 7.593
2010-10-12 0.039 7.846

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

  • Scottish Salmon has been paying a dividend for less than 10 years and during this time payments have been volatile (annual drop of over 20%).
  • Dividend payments have increased, but Scottish Salmon only paid a dividend in the past 9 years.
Current Payout to shareholders
What portion of Scottish Salmon's earnings are paid to the shareholders as a dividend.
  • Dividends paid are well covered by earnings (3x 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 Scottish Salmon'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 Scottish Salmon afford to pay it from its earnings today and in 3 years (Payout ratio less than 90%)? (2 checks)
  7. Scottish Salmon has a total score of 2/6, see the detailed checks below.


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

Management

 What is the CEO of Scottish Salmon'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.
  • Scottish Salmon has no CEO, or we have no data on them.
Management Team

Craig Anderson

TITLE
CEO of the Scottish Salmon Company Ltd and MD of the Scottish Salmon Company Ltd
COMPENSATION
£351K

Fiona Larkin

TITLE
Chief Financial Officer of the Scottish Salmon Company Ltd
COMPENSATION
£363K
TENURE
5 yrs

Su Cox

TITLE
Director of Sales & Communications

Debra Nichol-Storie

TITLE
HR Director

Iain MacDonald

TITLE
Head of Planning
Board of Directors Tenure

Average tenure of the Scottish Salmon board of directors in years:

8.9
Average Tenure
  • The tenure for the Scottish Salmon board of directors is about average.
Board of Directors

Bob Brown

TITLE
Chairman of the Board
COMPENSATION
£90K
AGE
72
TENURE
8.9 yrs

Merete Myhrstad

TITLE
Non-Executive Director
COMPENSATION
£38K
AGE
53
TENURE
8.9 yrs

Viacheslav Lavrentyev

TITLE
Non Executive Director
COMPENSATION
£38K
TENURE
8.9 yrs

Martins Jaunarajs

TITLE
Non Executive Director
COMPENSATION
£38K
TENURE
5.5 yrs

Douglas Low

TITLE
Director
COMPENSATION
£38K
TENURE
2.8 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)
03. Mar 19 Buy Craig Anderson Individual 03. Mar 19 03. Mar 19 27,000 NOK17.00 NOK459,000
19. Dec 18 Buy Craig Anderson Individual 19. Dec 18 19. Dec 18 29,700 NOK14.67 NOK435,699
21. Dec 18 Buy Craig Anderson Individual 21. Dec 18 21. Dec 18 9,659 NOK15.00 NOK144,885
X
Management checks
We assess Scottish Salmon'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. Scottish Salmon 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.

News

Simply Wall St News

The Scottish Salmon Company PLC (OB:SSC): Are Analysts Bull Or Bear?

The latest earnings update The Scottish Salmon Company PLC (OB:SSC) released in April 2019 confirmed that the company benefited from a strong tailwind, eventuating to a high double-digit earnings growth of 97%. … Investors may find it useful to understand how market analysts predict Scottish Salmon's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Scottish Salmon Analysts' outlook for next year seems pessimistic, with earnings falling by a double-digit -28%.

Simply Wall St -

Read This Before Selling The Scottish Salmon Company PLC (OB:SSC) Shares

So shareholders might well want to know whether insiders have been buying or selling shares in The Scottish Salmon Company PLC (OB:SSC). … As Peter Lynch said, 'insiders might sell their shares for any number of reasons, but they buy them for only one: they think the price will rise.' Check out our latest analysis for Scottish Salmon The Last 12 Months Of Insider Transactions At Scottish Salmon Over the last year, we can see that the biggest insider purchase was by CEO of the Scottish Salmon Company Ltd and MD of the Scottish Salmon Company Ltd Craig Anderson for kr459k worth of shares, at about kr17.00 per share. … It would be great to see more insider buying, but overall it seems like Scottish Salmon insiders are reasonably well aligned (owning significant chunk of the company's shares) and optimistic for the future.

Simply Wall St -

Imagine Holding Scottish Salmon (OB:SSC) Shares While The Price Zoomed 449% Higher

To wit, the The Scottish Salmon Company PLC (OB:SSC) share price has soared 449% over five years. … During five years of share price growth, Scottish Salmon achieved compound earnings per share (EPS) growth of 73% per year. … We note that for Scottish Salmon the TSR over the last 5 years was 490%, which is better than the share price return mentioned above.

Simply Wall St -

How Does The Scottish Salmon Company PLC (OB:SSC) Fare As A Dividend Stock?

Dividend paying companies with growing earnings can be highly rewarding in the long term. … Investors might not know much about Scottish Salmon's dividend prospects, even though it has been paying dividends for the last nine years and offers a 1.9% yield. … Conclusion To summarise, shareholders should always check that Scottish Salmon's dividends are affordable, that its dividend payments are relatively stable, and that it has decent prospects for growing its earnings and dividend.

Simply Wall St -

Should You Be Adding Scottish Salmon (OB:SSC) To Your Watchlist Today?

If, on the other hand, you like companies that have revenue, and even earn profits, then you may well be interested in Scottish Salmon (OB:SSC). … Over the last three years, Scottish Salmon has grown earnings per share (EPS) like young bamboo after rain; fast, and from a low base. … Like a sturdy phalanx Scottish Salmon insiders have stood united by refusing to sell shares over the last year.

Simply Wall St -

How Much Of The Scottish Salmon Company PLC (OB:SSC) Do Insiders Own?

Every investor in The Scottish Salmon Company PLC (OB:SSC) should be aware of the most powerful shareholder groups. … Check out our latest analysis for Scottish Salmon OB:SSC Ownership Summary, June 26th 2019 What Does The Institutional Ownership Tell Us About Scottish Salmon? … Insider Ownership Of Scottish Salmon While the precise definition of an insider can be subjective, almost everyone considers board members to be insiders.

Simply Wall St -

A Look At The Scottish Salmon Company PLC's (OB:SSC) Exceptional Fundamentals

By this I mean, I look at stocks holistically, from their financial health to their future outlook. … OB:SSC Income Statement, June 13th 2019 Next Steps: For Scottish Salmon, I've put together three fundamental factors you should look at: Future Outlook: What are well-informed industry analysts predicting for SSC’s future growth? … Take a look at our free research report of analyst consensus for SSC’s outlook.

Simply Wall St -

Is The Scottish Salmon Company PLC (OB:SSC) Trading At A 21% Discount?

Today, we will estimate the stock's intrinsic value by estimating the company's future cash flows and discounting them to their present value. … Generally we assume that a dollar today is more valuable than a dollar in the future, and so the sum of these future cash flows is then discounted to today's value: 10-year free cash flow (FCF) estimate 2019 2020 2021 2022 2023 2024 2025 2026 2027 2028 Levered FCF (£, Millions) £19.40 £38.15 £34.00 £31.44 £29.95 £29.11 £28.70 £28.56 £28.62 £28.81 Growth Rate Estimate Source Analyst x2 Analyst x2 Analyst x2 Est @ -7.53% Est @ -4.74% Est @ -2.79% Est @ -1.43% Est @ -0.47% Est @ 0.2% Est @ 0.67% Present Value (£, Millions) Discounted @ 7.08% £18.12 £33.27 £27.69 £23.91 £21.27 £19.31 £17.78 £16.52 £15.46 £14.54 Present Value of 10-year Cash Flow (PVCF)= £207.88m "Est" = FCF growth rate estimated by Simply Wall St After calculating the present value of future cash flows in the intial 10-year period, we need to calculate the Terminal Value, which accounts for all future cash flows beyond the first stage. … OB:SSC Intrinsic value, June 3rd 2019 The assumptions Now the most important inputs to a discounted cash flow are the discount rate, and of course, the actual cash flows.

Simply Wall St -

Can The Scottish Salmon Company PLC's (OB:SSC) ROE Continue To Surpass The Industry Average?

The formula for ROE is: Return on Equity = Net Profit ÷ Shareholders' Equity Or for Scottish Salmon: 30% = UK£48m ÷ UK£158m (Based on the trailing twelve months to December 2018.) It's easy to understand the 'net profit' part of that equation, but 'shareholders' equity' requires further explanation. … Combining Scottish Salmon's Debt And Its 30% Return On Equity While Scottish Salmon does have some debt, with debt to equity of just 0.26, we wouldn't say debt is excessive. … A company that can achieve a high return on equity without debt could be considered a high quality business.

Simply Wall St -

What Should We Expect From The Scottish Salmon Company PLC's (OB:SSC) Earnings In The Next Couple Of Years?

Below is my commentary, albeit very simple and high-level, on how market analysts view Scottish Salmon's earnings growth outlook over the next few years and whether the future looks even brighter than the past. … View our latest analysis for Scottish Salmon Market analysts' prospects for next year seems pessimistic, with earnings falling by a double-digit -27%. … OB:SSC Past and Future Earnings, May 12th 2019 Even though it’s informative knowing the growth each year relative to today’s value, it may be more insightful to analyze the rate at which the business is moving on average every year.

Simply Wall St -

Company Info

Description

The Scottish Salmon Company PLC produces, processes, markets, and sells Scottish seafood products primarily in Scotland. The company provides Scottish Salmon. It offers its products under the Native Hebridean Salmon, Tartan Salmon Label Rouge, and Lochlander Salmon brand names. The company also exports its products to 26 countries. The Scottish Salmon Company PLC was incorporated in 2009 and is headquartered in Edinburgh, the United Kingdom.

Details
Name: The Scottish Salmon Company PLC
SSC
Exchange: OB
Founded: 2009
NOK4,963,212,748
193,875,498
Website: http://www.scottishsalmon.com
Address: The Scottish Salmon Company PLC
8 Melville Crescent,
Edinburgh,
EH3 7JA,
United Kingdom
Listings
Exchange Symbol Ticker Symbol Security Exchange Country Currency Listed on
OB SSC Ordinary Shares Oslo Bors NO NOK 08. Jul 2010
DB S22 Ordinary Shares Deutsche Boerse AG DE EUR 08. Jul 2010
LSE 0N0K Ordinary Shares London Stock Exchange GB NOK 08. Jul 2010
Number of employees
Current staff
Staff numbers
645
Scottish Salmon 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 21:46
End of day share price update: 2019/09/13 00:00
Last estimates confirmation: 2019/09/04
Last earnings filing: 2019/08/30
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.