A Strategic Analysis & Fundamental Valuation of SalMar ASA

2017

Master's thesis Business Administration BE501 - University of Agder 2017 This master thesis, in the field of Management Accounting and Financial Economics, was written with the purpose of finding the intrinsic value of SalMar ASA’s equity at 31.12.2015. The price per share of SalMar was 155.00 NOK at 31.12.2015. We chose this date for our valuation as it coincided with the latest available annual report. The valuation was done through a fundamental approach using the discounted cash flow model and the economic value added model. The comparative valuation was added as a supplemental check and weighted against the fundamental value to form our recommendation. The thesis can be divided into 7 …