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Farming, fishing and forestry

Aquaculture farm financial model, built free.

A three-statement Excel model for an aquaculture farm, built from your own figures and checked to balance.

  • Free account
  • No card
  • Usually ready within the hour

We use generative AI in parts of our process, so mistakes can occur. Every model should be checked by a person before it is relied on. Read more

The business

Farms salmon, barramundi, prawns or oysters from juvenile stock to harvest, selling by the kilogram, with earnings driven by biomass growth, survival, feed conversion and price, and large fair-value swings.

See the sampleHow the model works

In short

  • 01

    Three linked statements

    Income statement, balance sheet and cash flow, linked in every period.

  • 02

    Valued two ways

    Discounted cash flow and trading multiples, side by side.

  • 03

    Monthly to annual

    Monthly, quarterly, half-yearly or annual periods, for up to 30 years.

  • 04

    Checked every period

    A Checks sheet shows the balance sheet balances and the cash reconciles.

The sample

The sample, as Excel draws it.

Built by the same system and checks as yours: its structure and its inputs, ready for your own figures.

Annual · 10 years · Low detail
Aquaculture farm sample model.xlsx
The How It Works sheet of the sample aquaculture farm model

The sample describes no real business. Yours is calibrated to your own figures, so its results are your business’s.

How it works

How the model works for an aquaculture farm.

  1. How it earns revenue3 formulas
    Synergies · Valuation and analysis
    Cost synergiesRun-rate cost synergiesCost synergies achieved (share of run-rate)CPI index (1.00 in the first year)share of the year
    Synergies · Valuation and analysis
    Revenue synergiesRun-rate revenue synergiesRevenue synergies achieved (share of run-rate)CPI index (1.00 in the first year)share of the year
    Synergies · Valuation and analysis
    Cost of sales on revenue synergiesRevenue synergiesGross margin on revenue synergies
  2. What drives its costs3 formulas
    Husbandry and feed costs · All herds
    Feed and yardage costsFeed costsYardage costs
    Operating expenses · Across the business
    Total FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
    Operating expenses · Across the business
    Total average FTEsOperations and deliverySales and marketingTechnologyFinance, HR and administration
  3. What it invests in3 formulas
    Livestock at fair value · All herds
    Livestock at fair value less costs to sellHead at period end (cows and heifers)from herd numbers and turnoffFair value per head less costs to sell
    Livestock at fair value · All herds
    Livestock fair-value movement (net of animals sold and bought)Livestock at fair value less costs to sellLivestock at fair value at period start
    Corporate fixed assets
    Capital expenditureRevenuefrom statementsCapex as % of revenueAdditional planned capex
  4. How it is funded3 formulas
    Debt
    RepaymentsScheduled repaymentsPrepayments from an equity raise and the cash sweep
    Debt
    Closing balanceOpening balanceDrawdownsRepayments
    Debt
    Interest expenseOpening balanceAll-in interest rateshare of the year
  5. How profit becomes cash3 formulas
    Working capital
    Trade receivablesRevenuefrom statementsDebtor daysDays in period
    Working capital
    InventoryDirect costs (positive)from statementsInventory daysDays in period
    Working capital
    Trade payablesCash operating costs (positive)from statementsCreditor daysDays in period
What it covers

20 parts, each one tested.

Every part is a tested building block with its own checks: yours is put together from the ones your business needs.

  • CPI forecastConsensus curve with long-run anchor
  • Exchange rate (US dollar)Exchange rate by financial year
  • Operating expensesHeadcount build by function
  • Working capitalFull working capital
  • Income taxCorporate rate with tax losses
  • Corporate fixed assetsStraight-line over remaining life
  • DebtAmortising term loan
  • Dividends and distributionsPayout of net profit
  • Discounted cash flow valuationDCF on free cash flow to the firm
  • Multiples valuationEV / EBITDA multiple
  • Commodity price deckFlat real pricesPrice paths for the farm, fish and forest commodities in the model — grain, oilseeds, cotton, sugar, beef, lamb, pork, wool, milk, fish, logs, fertiliser and feed — that sales and cost methods read as indices.
  • LeasesLease register
  • Key-metric summaryLast-twelve-month and run-rate metrics
  • Covenant tests and headroomLVR, gearing and ICR for property
  • SynergiesRun-rate synergies with phasing
  • Case selectionStackable stress toggles
  • Discount rate (WACC)CAPM at target gearing
  • Herd numbers and turnoffDairy herdHead of livestock (or fish) through the year — births, deaths, purchases, sales and moves between classes.
  • Husbandry and feed costsCost of gain (feed conversion)Costs of running the herd — feed, animal health, breeding, shearing, freight, selling costs and agistment.
  • Livestock at fair valueHead by class × market value per headValue of livestock (or fish biomass) on hand at fair value less costs to sell, and the fair-value movement taken to profit (AASB 141), net of the value of animals sold so sales are not counted twice.
Key numbers

The numbers it tracks.

  1. 01harvest tonnes
  2. 02closing biomass
  3. 03cost per kg
  4. 04EBIT per kg
  5. 05feed conversion ratio
  6. 06fair-value adjustment
Used for

What it is used for.

Also used for
  • Scenarios and sensitivities
Related models

More in farming, fishing and forestry.

Every agriculture and food model

Looking for an aquaculture farm financial model template? Ours arrives built for your business, with your figures in it.

See a finished model, sheet by sheet

The sample is built on illustrative figures and describes no real business. Models are calculations prepared from the information you provide. They are not financial advice and must be independently verified. See our terms.