Mowi stock edges higher as record Q2 2026 revenues and salmon volumes support valuation

Mowi ASA (ISIN NO0003054108) stock is trading just above NOK200 in late August 2026 as the salmon producer posts record second quarter 2026 revenues and harvest volumes that frame a still cautious valuation debate.

Record revenue and EBIT in Q2 2026

Per a second quarter 2026 update dated August 24, 2026, Mowi reported record-high revenues of EUR1.6 billion for the quarter, underpinned by strong demand for Atlantic salmon and higher harvest volumes. The same update states that operational EBIT reached EUR231 million in Q2 2026, confirming a solid profitability level for the period in spite of cost and biological challenges. For investors, these numbers represent the most recent full set of fundamentals available for the company and form the basis for current earnings-based valuation work.

The Q2 2026 figures sit within the current freshness window for reported fundamentals relative to late August 2026, which means they can be used as core metrics rather than purely historical background. With revenues at EUR1.6 billion and operational EBIT at EUR231 million in Q2 2026, the implied EBIT margin for that quarter stands in the mid-teens percentage range, illustrating that Mowi is converting a meaningful portion of its sales into operating profit despite cost inflation, feed prices, and regulatory pressures across key farming regions.

Share price context and valuation comparison

Recent market data compiled on August 24, 2026 shows Mowi shares quoted around NOK205.80, reflecting a daily change of plus 1.03 percent and a year-to-date performance of minus 16.38 percent in Norwegian kroner terms. Another valuation-focused overview, using the most followed narrative fair value, points to a last close level of NOK203.40 for Mowi stock and compares that to a fair value estimate of NOK230.69, implying that the shares trade at a discount of more than NOK27 per share or roughly 12 percent to that fair value line. That quantified gap between trading price and modeled value is a central part of the current investor discussion.

The same valuation-focused piece notes that Mowi shares delivered a one-month share price return of 2.83 percent while the three-year total shareholder return stands at 19.66 percent, highlighting a mixed picture in which long-term holders have still gained over a multi-year horizon even as the stock has declined so far in 2026. Taken together with the fresh Q2 2026 earnings data, this suggests that much of the recent share price weakness reflects sector sentiment and risk premiums rather than a collapse in underlying profitability, and it gives investors concrete numbers to use when judging whether the current discount to fair value offers sufficient compensation for cyclicality and regulatory uncertainty.

Sector positioning and growth profile

A same-day August 24, 2026 overview of European growth companies with insider ownership characteristics describes Mowi as a global Atlantic salmon producer with a market capitalization of NOK107.25 billion. That figure places the company among the larger names in the listed seafood and protein space in Europe, and it also underscores that Mowi is a significant component of regional equity indices and sector baskets. For US-based investors looking at European exposure, the NOK107.25 billion market value translates into a multi-billion dollar equivalent, making Mowi a sizable, though not mega-cap, holding within diversified international portfolios.

From an operational standpoint, Mowi’s Q2 2026 record harvest volumes complement the revenue and EBIT headlines. Higher harvested tonnage at stable or favorable price levels tends to translate into stronger cash generation, which can support dividend capacity and balance sheet resilience. While detailed cash flow figures for the quarter are not specified in the same snippet, the combination of record volumes and positive operational EBIT points to a business that is currently scaling efficiently, even if biological risks such as disease, lice, and weather events remain structural considerations for salmon farming.

Mowi branded salmon products

Beyond the numbers, a representative product for Mowi’s business model is its branded fresh and smoked Atlantic salmon sold through retail and foodservice channels globally. The Mowi brand positions salmon as a premium, responsibly farmed protein, offering consumers fillets, portions, and smoked products that leverage the company’s scale in farming, processing, and distribution. For investors, the branded product strategy matters because it can help support pricing power and margin stability over time, reducing reliance on purely commodity-like wholesale dynamics.

Stock level and recent performance

As of August 24, 2026, Mowi stock is trading in the NOK203 to NOK206 range on the Oslo Bors, with a recent reference quote of NOK205.80 and a one-month share price return of 2.83 percent against a year-to-date decline of 16.38 percent. That current level sits below the cited fair value line of NOK230.69, reflecting the 12 percent discount flagged in valuation models and giving investors a quantified snapshot of how the market currently prices the company’s record Q2 2026 earnings and harvest volumes relative to modeled intrinsic value.

Fact box

Company: Mowi ASA

ISIN: NO0003054108

Ticker: MOWI

Exchange: Oslo Bors

Price (as of August 24, 2026, market hours): NOK205.80

Market cap: NOK107.25 billion (as of August 24, 2026)

Sector / Industry: Consumer staples / Food, beverage and tobacco

Index membership: Key European seafood and Norwegian benchmark indices