May 2026
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Largest Agriculture Public Companies in Norway
Benchmark revenue and EBITDA valuation multiples for public comps like
Yara International, Mowi, SalMar, Bakkafrost and Austevoll Seafood.
 | Yara International ASA is a Crop nutrition company, and developing low-emission energy solutions. The company converts natural gas into nitrogen products. It is engaged in the production of ammonia, mineral fertilizers, and industrial products. The firm also develops and markets environmental solutions and essential products for industrial applications. It markets and distributes a complete range of crop nutrition products and programs globally. Its operating segments are Europe, Americas, Africa & Asia, Global Plants & Operational Excellence, Clean Ammonia, and Industrial Solutions. | $54 | +40% | $14B | $17B | 1.1x | 5.5x | ||
| Mowi ASA is a Norway-based producer of farmed salmon, distributing salmon and other processed seafood globally. The company focuses on producing high-quality fish by producing its fish eggs and nurturing the fish in the early stages of their life. It operates in three business segments: Feed, Farming, and Sales & Marketing. Fish feed production comprises its two feed plants in Norway and Scotland. Farming includes a single operating segment composed of farming operations in Norway, Scotland, Canada, Chile, Ireland, the Faroe Islands, and Iceland, and Sales and Marketing is composed of two operating segments: Markets and Consumer Products. A majority of the company's revenue is generated from the Sales and Marketing business. Geographically, it derives maximum revenue from Europe. | $22 | +6% | $11B | $15B | 2.2x | 9.2x | ||
| SalMar ASA produces and sells farmed salmon internationally. It operates hatcheries and controls the farming at all stages until the fish are ready to be harvested, processed, and packaged into various products. Products are developed with new mixes and packing methods to make them more convenient for customers. The salmon are sold through an in-house salesforce and close partners of the company. Proximity to customers and tracking the use of resources play a factor in delivering the raw material. | $62 | +35% | $8B | $11B | 3.6x | 17.5x | ||
| Bakkafrost P/F is a salmon producer based in the Faroe Islands. The company's activities include farming, harvesting, packaging, processing, and sales. The salmon products consist of whole salmon, frozen salmon portions, salmon heads, backbones, belly flaps, and salmon skin. Bakkafrost divides its operations into segments namely, Fishmeal, oil and feed segment, Freshwater FO segment, Farming FO segment, Freshwater SCT segment, Farming SCT segment, services, sales, and others. Geographically, the company derives maximum revenue from Western Europe. | $48 | +2% | $3B | $4B | 3.2x | 13.7x | ||
| Austevoll Seafood ASA is a fishery and seafood company that owns and operates fishing vessels, fishmeal plants, canning plants, freezing plants, salmon farming, and marketing and sales. The company mainly operates in Norway, the U.K., Peru, Chile, and North Atlantic region. AUSS's activities are segmented as Leroy Seafood Group ASA (Europe), Austral Group S.A.A (Peru), Foodcorp Chile S.A (Chile), Br. Birkeland AS (Norway), Br. Birkeland Farming AS (Norway) and the joint venture Pelagia Holding AS (Europe). Among the segments, Leroy Seafood Group ASA (Europe) generates the majority of the group's income. | $9 | -7% | $2B | $3B | 0.7x | 5.4x | ||
| Endur ASA is a Nordic industrial group and supplier of infrastructure and solutions for the land-based aquaculture industry. The group is a supplier of construction and maintenance projects and services for infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges, and other specialized concrete and steel projects. Its Company focuses on new buildings and rehabilitations of industrial and residential real estate, turnkey constructions, carpentry and timber structures, for both public and private clients. The company and its subsidiaries also offer a wide range of other specialized projects and marine services. | $13 | +41% | $664M | $730M | 1.1x | 10.5x | ||
| AKVA Group ASA is a technology and service partner in the aquaculture industry. The company has three operating segments; Sea-Based Technology includes products like feed barges, fish farming cages, feed systems, nets, sensors, cameras, light systems, net cleaning systems, and remotely operating vehicles, Digital and Land Based Technology includes Recirculation technology that allows re-use of the water by cleaning the water and restoring important water quality parameters, using water treatment technology, and Digital includes products like FishtalkTM, AKVAconnect, and Observe. The FishtalkTM software includes brands such as Production control, planning, traceability, and ERP software for both the aquaculture and the fishing industry. | $13 | +50% | $461M | $608M | 1.3x | 10.6x | ||
| Masoval AS owns, operates, and develops companies in the aquaculture industry, which contribute to positive ripple effects and value creation throughout the region. The group is organized into business units based on its activities and has two operating segments: Farming and Sales & processing. The Farming segment includes the purchase of salmon roe, farming on land and sea, related service activities and the sale of salmon to exporters. The Sales and Processing segment includes harvesting activities and the sale of salmon and other species of fish in Norway and for export. The firm generates the majority of its revenue from Farming segment, which is further divided into Farming mid and Farming west. The firm generates revenue from Norway, Europe without Norway, Asia, and Other countries. | $4 | +37% | $451M | $694M | 2.2x | 21.0x | ||
| Grieg Seafood ASA is an integrated Norwegian seafood company engaged in farming Atlantic salmon. The company's facilities are located in Finnmark and Rogaland in Norway and British Columbia and Newfoundland in Canada. Its product portfolio includes fresh whole fish, freshly processed fish, frozen processed fish, frozen whole fish, and other products. | $3 | -57% | $380M | $145M | 0.3x | 1.8x | ||
| Andfjord Salmon Group AS is a Norwegian company engaged in salmon farming. The company's farming facility is located on Andoya, the northernmost island in the Arctic Archipelago of Lofoten, Vesteralen. The company's business is to farm salmon with the of selling to third parties when the fish has reached a mature state. The company operated one salmon pool facility. The facility uses a seawater flow-through system that avoids issues with salmon lice and poisonous algae, prevents salmon escapement, and at the same time contributes to reduced feed waste. | $3 | -14% | $346M | $516M | 4990.8x | (62.1x) | ||
| Salmon Evolution ASA is a land-based salmon farming company in Norway that uses hybrid flow-through system technology. Its production facility is in Indre Haroy, Norway, providing access to an experienced workforce, established infrastructure, renewable energy, and unlimited fresh seawater. The company has two reportable segments which is Farming Norway and Other. Farming Norway includes Salmon Evolution Norway AS, Salmon Evolution Dale AS, and Salmon Evolution Sales AS, while the Other segment covers revenue and costs not attributable to the farming segment. | $0 | -28% | $255M | $483M | 13.7x | (77.2x) | ||
| Icelandic Salmon AS is an aquaculture company in Iceland. It is engaged in the production, processing, and sale of high-quality Icelandic salmon. Geographically, it derives a majority of revenue from Europe excluding Norway. | $8 | -25% | $245M | $395M | 3.7x | 2370.7x | ||
| Nordic Aqua Partners AS operates in the seafood industry. The company is a land-based Atlantic Salmon farming company, using technology and expertise to set up the first fully integrated and commercially scaled Recirculating Aquaculture System ("RAS") farm for Atlantic Salmon in China. The company's planning is to deliver fresh and locally farmed Atlantic Salmon to China. | $9 | +11% | $191M | $268M | 17.9x | (29.4x) | ||
| Gigante Salmon AS builds and operates land-based aquaculture facilities. The activities of the company include breeding of smolt and salmon, and research and development related to salmon farming. | $1 | -9% | $180M | $225M | 31.3x | 169.6x | ||
| Arctic Fish Holding AS is a fish farming company. It is engaged in farming and marketing Atlantic salmon. The fish farming business includes smolt production, salmon farming, harvesting activities, and sales of harvested fish. | $3 | -34% | $146M | $310M | 3.0x | (93.8x) | ||
| Nordic Halibut AS is a producer of farmed Atlantic halibut in the world. Its products include Fresh Nordic Halibut on ice and Frozen portions. Geographically it operates in Norway, the USA which generates substantial revenue, the UK, and Other markets. | $3 | +27% | $141M | $204M | 10.3x | 31.6x | ||
| Norcod AS is engaged in the business of commercial farming and selling Atlantic cod in marine facilities. The company serves customers world-wide. Its production is based in its natural cold-water habitat along the coast of Central and Northern Norway. The company’s operating revenue is derived mainly from the sale of cod. The company has two operating segments: Farming, Includes activities related to fish farming operations from juvenile to harvest-ready biomass and sale of cod and liver in Norway and for export through the sales agent Sirena Group; and Harvesting, Includes harvesting activities, where farming generates maximum revenue. | $1 | -29% | $87M | $118M | 2.5x | (6.5x) | ||
| Proximar Seafood AS is a land-based salmon farming company in the process of constructing a fish farm for Atlantic salmon in Japan. It produces Atlantic salmon which involves free of medication and without impact from traditional challenges such as lice and microplastics and the fish is isolated from the marine surrounding environment. The company's fish farming is based on the Recirculating Aquaculture System (RAS)-technology, provided by AquaMaof. The company receives eggs on a monthly basis from the StofnFiskur strain in Iceland. The eggs are hatched, nursed, and farmed at its facility by the foot of Mount Fuji, using locally manufactured feed. | $0 | -80% | $25M | $128M | 5.9x | (15.4x) | ||
| Desert Control AS is a climate technology company specializing in reclaiming degraded soil and turning desert sand into fertile soil. It also specializes in climate-smart AgTech solutions to combat desertification, soil degradation, and water scarcity. The patented product LNC (Liquid Natural Clay) is a liquid clay compound that enables sand and degraded soil to retain water and nutrients. | $0 | -77% | $15M | $14M | 49.9x | (1.7x) | ||
| Atlantic Sapphire ASA is a land-based aquaculture company. It owns and operates a land-based Atlantic salmon farm in Homestead, Florida, United States (the Miami Bluehouse facility), and derives revenue from the sale of salmon. The company's reportable segments comprise U.S. Operations, which generates a majority of its revenue, and Denmark Operations. | $0 | -87% | $4M | $115M | 2.6x | (1.9x) | ||
| Median | $4 | -8% | $300M | $439M | 3.1x | 5.4x |
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