Proximar Seafood AS

The company's capital structure shows a debt-to-equity ratio of 1.97, indicating a significant reliance on debt financing. Despite holding NOK 140.5 million in cash and equivalents, the company's liquidity position is rated as medium due to the NOK 972 million in long-term debt. The price-to-book ratio of 0.53 suggests the market values the company at a discount to its book value.

Profitability metrics show significant underperformance relative to industry norms. The company reported a net loss of NOK 29.96 million and an operating loss of NOK 20.48 million, resulting in a negative return on equity of -6.06% and a negative return on assets of -2.01%. These results indicate operational challenges that are likely impacting shareholder value.

Geographic and segment exposure data is not available in the current dataset, but the company's revenue concentration appears to be a concern given the lack of disclosed diversification. The company's free cash flow of -NOK 56.15 million and capital expenditure of -NOK 37.31 million suggest ongoing investment in operations, though this is not being offset by positive cash generation.

Looking ahead, the company faces a challenging growth environment. With no revenue data available for trend analysis, the outlook is constrained by the current financial performance. Analysts have assigned a mean price target of NOK 1.10, which is 120% above the current market price of NOK 0.50. This suggests some optimism about potential value realization, though the current financials do not support immediate upside.

Risk factors include the company's high leverage and negative net cash position after subtracting total debt. The liquidity risk is compounded by the negative operating cash flow of NOK 13.54 million. While dilution risk is currently rated as low, the company's capital structure and negative cash flows could necessitate future equity issuance, which would impact existing shareholders.

Recent events include the publication of the latest financial results showing significant losses and a negative net cash position. No recent filings or transcripts have been identified that provide additional context about strategic initiatives or operational changes.

Analysts project 129% upside to a mean price target of 1.10 NOK, signaling strong market confidence in future recovery.

Gross profit expanded significantly to 66.1 million NOK in FY2026, indicating improving operational efficiency despite net losses.

Long-term debt decreased to 986.1 million NOK in FY2026 from 1.19 billion NOK in FY2025, suggesting active deleveraging efforts.

Revenue surged to 143.0 million NOK in FY2026, marking a substantial increase from negligible levels in prior fiscal years.

The company carries a high credit risk flag, indicating significant concerns regarding its ability to meet financial obligations.

Net losses widened to 253.9 million NOK in FY2026, reflecting persistent inability to achieve profitability despite revenue growth.

A current ratio of 0.06 indicates severe liquidity constraints, raising concerns about short-term solvency and operational continuity.

Debt-to-equity ratio of 1.97 ranks in the bottom quartile of peers, highlighting excessive leverage relative to the industry.

Revenue kr 34.3M, +920,4% YoY; Operating income +64,9% YoY.

• ▍Revenue kr 34.3M, +920,4% YoY
• ▍Operating income +64,9% YoY
• ▍Net income +39,1% YoY
• ▍Free cash flow +55,6% YoY
• ▍Net margin -112.7%

Revenue kr 40.4M, +27 742,8% YoY; Operating income −77,8% YoY.

• ▍Revenue kr 40.4M, +27 742,8% YoY
• ▍Operating income −77,8% YoY
• ▍Net income −341,9% YoY
• ▍Free cash flow −536,6% YoY
• ▍Net margin -152.8%

Revenue kr 23.8M; Operating income −507,6% YoY.

• ▍Revenue kr 23.8M
• ▍Operating income −507,6% YoY
• ▍Net income −198,9% YoY
• ▍Free cash flow −70,3% YoY
• ▍Net margin -399.7%

Revenue kr 30.2M; Operating income −89,2% YoY.

• ▍Revenue kr 30.2M
• ▍Operating income −89,2% YoY
• ▍Net income −95,1% YoY
• ▍Free cash flow −23,5% YoY
• ▍Net margin -193.3%

Revenue kr 3.4M; Operating income -kr 46.5M.

• ▍Revenue kr 3.4M
• ▍Operating income -kr 46.5M
• ▍Net margin -1886.6%

Revenue kr 145.0k; Operating income -kr 14.7M.

• ▍Revenue kr 145.0k
• ▍Operating income -kr 14.7M
• ▍Net margin -9625.5%

Revenue kr 0.00; Operating income -kr 12.2M.

• ▍Revenue kr 0.00
• ▍Operating income -kr 12.2M

Revenue kr 0.00; Operating income -kr 20.5M.

• ▍Revenue kr 0.00
• ▍Operating income -kr 20.5M

Revenue kr 143.0M, +3 976,6% YoY; Operating income −60,4% YoY.

• ▍Revenue kr 143.0M, +3 976,6% YoY
• ▍Operating income −60,4% YoY
• ▍Net income −82,4% YoY
• ▍Free cash flow −32,1% YoY
• ▍Net margin -177.5%

Revenue kr 3.5M, +58 383,3% YoY; Operating income −47,3% YoY.

• ▍Revenue kr 3.5M, +58 383,3% YoY
• ▍Operating income −47,3% YoY
• ▍Net income −49,1% YoY
• ▍Free cash flow +69,2% YoY
• ▍Net margin -3967.1%

Revenue kr 6.0k; Operating income −150,2% YoY.

• ▍Revenue kr 6.0k
• ▍Operating income −150,2% YoY
• ▍Net income −313,7% YoY
• ▍Free cash flow −45,4% YoY
• ▍Net margin -1555733.3%

Revenue kr 0.00; Operating income −159,4% YoY.

• ▍Revenue kr 0.00
• ▍Operating income −159,4% YoY
• ▍Net income +9,8% YoY
• ▍Free cash flow −6,2% YoY