ISLAX Stock Financial Analysis - Icelandic Salmon AS (ICSE) Stock

Overview

Icelandic Salmon AS is a prominent company based in Iceland that operates within the aquaculture industry, specializing primarily in the farming and sales of Atlantic salmon. The company utilizes sustainable and science-based approaches to raise high-quality salmon in the cold, clear waters around Iceland. Icelandic Salmon AS is known for implementing innovative aquaculture technologies aimed at enhancing fish welfare and minimizing environmental impact. Their key projects include the development of land-based recirculating aquaculture systems (RAS) and sea cage operations that facilitate efficient salmon growth while adhering to strict biosecurity measures. The company's strategic focus on sustainable practices and advanced breeding techniques positions it as a leader in the global seafood market.

Quality, Value, Momentum Scores

This card shows the Quality, Value, and Momentum scores for the company

Quality

The QualityScore is a proprietary scoring model that identifies high quality companies, based on cash generating efficiencies.

Value

Proprietary scoring model that ranks companies based on their relative valuation. Scores range from 0 to 100, with 100 being the most undervalued.

Momentum

Proprietary scoring model that ranks companies on their six-month momentum.

Fund Sentiment

The Fund Sentiment (fka Ownership) score is a proprietary quantitative model that ranks companies based on levels of ownership accumulation.

QVM

The QVM Score is a proprietary scoring model that combines Quality, Value, and Momentum into a single metric that ranks companies from 0 to 100.

Income Statement: Revenue, Operating Income, Net Income

The revenue for Icelandic Salmon AS as of June 30, 2025 is 96.63 MM.
The operating income for Icelandic Salmon AS as of June 30, 2025 is -25.40 MM.
The net income for Icelandic Salmon AS as of June 30, 2025 is -29.85 MM.

Period End (TTM)	Revenue (MM)	Operating Income (MM)	Net Income (MM)
2025-06-30	96.63	-25.40	-29.85
2025-03-31	97.53	-11.48	-16.47
2024-12-31	98.42	2.44	-3.09
2024-09-30	113.34	1.62	-1.73
2024-06-30	128.27	0.81	-0.38
2024-03-31	145.45	7.26	4.10
2023-12-31	162.62	13.70	8.57
2023-09-30	159.19	18.74	17.21
2023-06-30	155.76	23.77	25.86
2023-03-31	156.01	29.60	30.39
2022-12-31	156.26	35.43	34.92
2022-09-30	141.87	31.06	27.63
2022-06-30	127.47	26.68	20.35
2022-03-31	109.14	15.38	11.36
2021-12-31	90.81	4.07	2.37
2021-09-30	76.35	7.97	4.12
2021-06-30	61.89	11.86	5.87
2021-03-31	61.86	7.40	1.96
2020-12-31	61.84	2.94	-1.95

Income Statement: EPS

Period End (TTM)	Earnings Per Share Basic	Earnings Per Share Diluted
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30	-0.01	-0.01
2024-03-31	0.13	0.13
2023-12-31	0.28
2023-09-30	0.55	0.55
2023-06-30	0.83	0.83
2023-03-31	0.98	0.98
2022-12-31	1.13
2022-09-30	0.89	0.89
2022-06-30	0.66	0.66
2022-03-31	0.37	0.37
2021-12-31	0.08
2021-09-30	0.14	0.14
2021-06-30	0.20	0.20
2021-03-31	0.07	0.07
2020-12-31	-0.07

Cash Flow: Operations, Investing, Financing

The cash from operating activities for Icelandic Salmon AS as of June 30, 2025 is -26.80 MM.
The cash from investing activities for Icelandic Salmon AS as of June 30, 2025 is -8.41 MM.
The cash from financing activities for Icelandic Salmon AS as of June 30, 2025 is 39.43 MM.

Period End (TTM)	Cash From Operating Activities (MM)	Cash From Investing Activities (MM)	Cash From Financing Activities (MM)
2025-06-30	-26.80	-8.41	39.43
2025-03-31	-19.68	-8.54	28.91
2024-12-31	-12.57	-8.67	18.40
2024-09-30	-2.44	-11.78	12.51
2024-06-30	7.69	-14.90	6.62
2024-03-31	23.91	-20.01	-0.03
2023-12-31	40.13	-25.12	-6.68
2023-09-30	30.99	-30.13	-5.01
2023-06-30	21.86	-35.14	-3.35
2023-03-31	16.74	-31.16	5.16
2022-12-31	11.62	-27.18	13.67
2022-09-30	17.49	-21.66	11.37
2022-06-30	23.35	-16.15	9.07
2022-03-31	11.55	-15.46	12.39
2021-12-31	-0.24	-14.77	15.71
2021-09-30	-4.31	-12.70	17.89
2021-06-30	-8.38	-10.62	20.07
2021-03-31	-3.71	-10.25	15.15
2020-12-31	0.97	-9.88	10.22

Valuation Metrics : PE, PriceToBook, PriceToTBV

P/Book: The current closing price divided by the book value per share.

P/TBV: The current price divided by the tangible book value per share.

Period End (TTM)	p/e	P/Book	P/TBV
2025-06-30
2025-03-31
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31

Valuation Metrics : EBitToEv, EBit3YrAvgToEv

Period End (TTM)	EBIT/EV	EBIT (3y)/EV
2025-06-30
2025-03-31	0.00	0.00
2024-12-31
2024-09-30
2024-06-30
2024-03-31
2023-12-31
2023-09-30
2023-06-30
2023-03-31
2022-12-31
2022-09-30
2022-06-30
2022-03-31
2021-12-31
2021-09-30
2021-06-30
2021-03-31
2020-12-31

Management Effectiveness

The roa for Icelandic Salmon AS as of June 30, 2025 is -0.01.
The roe for Icelandic Salmon AS as of June 30, 2025 is -0.19.
The roic for Icelandic Salmon AS as of June 30, 2025 is -0.01.
The croic for Icelandic Salmon AS as of June 30, 2025 is -0.01.
The ocroic for Icelandic Salmon AS as of June 30, 2025 is -0.05.

Period End (TTM)	ROA	ROE	ROIC	CROIC	OCROIC
2025-06-30	-0.01	-0.19	-0.01	-0.01	-0.05
2025-03-31	0.00	0.00
2024-12-31	-0.01	-0.01	-0.00	-0.00	0.03
2024-09-30	-0.00	-0.01	-0.00	-0.00	0.03
2024-06-30	0.04	0.03	0.04	0.04	0.19
2024-03-31	0.11	0.06
2023-12-31	0.07	0.12	0.09	-0.02	0.15
2023-09-30	0.13	0.20	0.16	-0.10	0.14
2023-06-30	0.13	0.20	0.10	-0.07	0.09
2023-03-31	0.15	0.23	0.12	-0.04	0.07
2022-12-31	0.16	0.25	0.13	0.03	0.08
2022-09-30	0.16	0.25	0.13	0.03	0.08
2022-06-30	0.13	0.18	0.12	0.09	0.13
2022-03-31	0.07	0.10	0.06	0.05	0.07
2021-12-31	0.03	0.04	0.03	0.01	-0.03
2021-09-30	0.03	0.04	0.03	0.01	-0.03
2021-06-30	0.05	0.09	0.04	0.01	-0.06
2021-03-31	0.02	0.03	0.01	0.01	-0.03
2020-12-31			0.00	0.00	0.00

Gross Margins

The gross margin for Icelandic Salmon AS as of June 30, 2025 is 0.49.
The net margin for Icelandic Salmon AS as of June 30, 2025 is -0.03.
The operating margin for Icelandic Salmon AS as of June 30, 2025 is 0.02.

Gross Margin: The Gross Margin is the ratio of revenue left after substracting the Cost of Goods Sold. It is calculated as 1.0 - (Revenue - COGS ) / Revenue.

Net Margin: The Net Margin (aka Profit Margin) is the ratio of revenue left after substracting the Net Income. It is calculated as Net Income / Revenue.

Operating Margin: The Operaing Margin is the ratio of revenue left after substracting the Operating Income. It is calculated as Operating Income / Revenue.

Period End (TTM)	Gross Margin	Net Margin	Operating Margin
2025-06-30	0.49	-0.03	0.02
2025-03-31
2024-12-31	0.37	-0.00	0.01
2024-09-30	0.37	-0.00	0.01
2024-06-30	0.37	0.05	0.08
2024-03-31	0.41	0.16	0.15
2023-12-31	0.39	0.11	0.12
2023-09-30	0.41	0.16	0.15
2023-06-30	0.41	0.16	0.15
2023-03-31	0.44	0.19	0.19
2022-12-31	0.47	0.19	0.22
2022-09-30	0.47	0.19	0.22
2022-06-30	0.48	0.16	0.21
2022-03-31	0.43	0.10	0.14
2021-12-31	0.46	0.05	0.10
2021-09-30	0.46	0.05	0.10
2021-06-30	0.61	0.09	0.19
2021-03-31	0.54	0.03	0.12
2020-12-31