Cadeler As (CADLR) - Net Assets

Latest as of September 2025: Nkr1.45 Billion NOK ≈ $152.16 Million USD

Based on the latest financial reports, Cadeler As (CADLR) has net assets worth Nkr1.45 Billion NOK (≈ $152.16 Million USD) as of September 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr3.06 Billion ≈ $321.59 Million USD) and total liabilities (Nkr1.61 Billion ≈ $169.43 Million USD). This figure indicates the residual interest in the assets after deducting liabilities, essentially showing what would remain for shareholders if all assets were liquidated and all debts paid off. Check how strategically is Cadeler As's equity deployed to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr1.45 Billion
% of Total Assets	47.32%
Annual Growth Rate	64.05%
5-Year Change	411.86%
10-Year Change	N/A
Growth Volatility	572.43

Cadeler As - Net Assets Trend (2016–2024)

This chart illustrates how Cadeler As's net assets have evolved over time, based on quarterly financial data. For live market cap and overall valuation, see Cadeler As market capitalisation.

Annual Net Assets for Cadeler As (2016–2024)

The table below shows the annual net assets of Cadeler As from 2016 to 2024. Also explore Cadeler As (CADLR) equity growth momentum to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2024-12-31	Nkr1.23 Billion ≈ $129.84 Million	+28.66%
2023-12-31	Nkr959.04 Million ≈ $100.92 Million	+77.41%
2022-12-31	Nkr540.57 Million ≈ $56.88 Million	+66.20%
2021-12-31	Nkr325.26 Million ≈ $34.23 Million	+34.93%
2020-12-31	Nkr241.06 Million ≈ $25.37 Million	+22.16%
2019-12-31	Nkr197.33 Million ≈ $20.77 Million	+1750.63%
2018-12-31	Nkr10.66 Million ≈ $1.12 Million	-37.28%
2017-12-31	Nkr17.00 Million ≈ $1.79 Million	-27.73%
2016-12-31	Nkr23.53 Million ≈ $2.48 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Cadeler As's total equity over time. Equity components include common stock, retained earnings, additional paid-in capital, and other elements.

Equity Composition Insights

Retained earnings have grown by 153.4% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Retained Earnings	Nkr59.36 Million	4.81%
Common Stock	Nkr47.14 Million	3.82%
Other Comprehensive Income	Nkr29.18 Million	2.36%
Other Components	Nkr1.10 Billion	89.00%
Total Equity	Nkr1.23 Billion	100.00%

Cadeler As Competitors by Market Cap

The table below lists competitors of Cadeler As ranked by their market capitalization.

Company	Market Cap
Autohome Inc ADR F:8AHB	$2.13 Billion
ARMOUR Residential REIT Inc NYSE:ARR	$2.13 Billion
IHS HOLDING LTD. DL-3 F:4JB	$2.13 Billion
Bausch Health Companies Inc TO:BHC	$2.13 Billion
Shanghai Kingstar Winning Software SHE:300253	$2.13 Billion
Feng Tay Enterprises Co Ltd TW:9910	$2.13 Billion
Establishment Labs Holdings Inc NASDAQ:ESTA	$2.13 Billion
Wenzhou Yihua Connector Co Ltd SHE:002897	$2.13 Billion

Equity Growth Attribution

This analysis shows how different factors contributed to changes in Cadeler As's equity between the two most recent reporting periods.

Equity Growth Insights

From 2023 to 2024, total equity changed from 959,041,000 to 1,233,894,000, a change of 274,853,000 (28.7%).
Net income of 65,069,000 contributed positively to equity growth.
Share repurchases of 1,283,000 reduced equity.
New share issuances of 154,956,000 increased equity.
Other comprehensive income increased equity by 57,463,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	Nkr65.07 Million	+5.27%
Share Repurchases	Nkr1.28 Million	-0.1%
Share Issuances	Nkr154.96 Million	+12.56%
Other Comprehensive Income	Nkr57.46 Million	+4.66%
Other Changes	Nkr-1.35 Million	-0.11%
Total Change	Nkr-	28.66%

Book Value vs Market Value Analysis

This analysis compares Cadeler As's book value (net assets) with its market value over time. The relationship between these values can provide insights into investor sentiment and company valuation.

Valuation Insights

Current price-to-book ratio: 15.81x
The company is trading at a significant premium to its book value, suggesting the market values its earnings potential, brand, or other intangibles highly.
The price-to-book ratio has decreased from 283.69x to 15.81x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2016-12-31	Nkr0.20	Nkr57.75	x
2017-12-31	Nkr0.15	Nkr57.75	x
2018-12-31	Nkr0.28	Nkr57.75	x
2019-12-31	Nkr5.13	Nkr57.75	x
2020-12-31	Nkr2.97	Nkr57.75	x
2021-12-31	Nkr2.48	Nkr57.75	x
2022-12-31	Nkr3.30	Nkr57.75	x
2023-12-31	Nkr4.72	Nkr57.75	x
2024-12-31	Nkr3.65	Nkr57.75	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Cadeler As utilizes its equity to generate returns, including Return on Equity (ROE) and its components based on the DuPont analysis framework.

Capital Efficiency Insights

Current Return on Equity (ROE): 5.27%
The company has moderate efficiency in generating returns from equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 26.16%
• Asset Turnover: 0.13x
• Equity Multiplier: 1.57x
Recent ROE (5.27%) is above the historical average (-8.32%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2016	30.22%	10.01%	2.41x	1.25x	Nkr4.76 Million
2017	-37.70%	-14.10%	0.30x	8.81x	Nkr-8.11 Million
2018	-59.45%	-8.85%	0.53x	12.65x	Nkr-7.41 Million
2019	-12.04%	-61.91%	0.14x	1.36x	Nkr-43.50 Million
2020	-11.21%	-138.62%	0.06x	1.40x	Nkr-51.14 Million
2021	2.29%	12.23%	0.14x	1.31x	Nkr-25.07 Million
2022	6.57%	33.40%	0.16x	1.24x	Nkr-18.52 Million
2023	1.20%	10.59%	0.09x	1.31x	Nkr-84.41 Million
2024	5.27%	26.16%	0.13x	1.57x	Nkr-58.32 Million

Industry Comparison

This section compares Cadeler As's net assets metrics with peer companies in the Engineering & Construction industry.

Industry Context

Industry: Engineering & Construction
Average net assets among peers: $1,678,214,114
Average return on equity (ROE) among peers: 19.40%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Cadeler As (CADLR)	Nkr1.45 Billion	30.22%	1.11x	$2.13 Billion
AF Gruppen ASA (AFG)	$3.49 Billion	20.29%	3.30x	$2.17 Billion
DOF Group ASA (DOFG)	$1.03 Billion	35.09%	1.59x	$3.41 Billion
Endur ASA (ENDUR)	$1.52 Billion	-7.18%	1.52x	$537.99 Million
Goodtech (GOD)	$229.86 Million	-0.74%	0.94x	$43.50 Million
Multiconsult AS (MULTI)	$850.12 Million	27.60%	2.57x	$423.35 Million
Norconsult ASA (NORCO)	$2.53 Billion	19.59%	1.81x	$1.26 Billion
Sentia Asa (SNTIA)	$676.00 Million	26.04%	6.66x	$83.21K
Veidekke ASA (VEI)	$3.10 Billion	34.51%	4.88x	$2.94 Billion

About Cadeler As

OL:CADLR Norway Engineering & Construction

Market Cap

$2.13 Billion

Nkr20.24 Billion NOK

Market Cap Rank

#5929 Global

#43 in Norway

Share Price

Nkr57.75

Change (1 day)

-1.79%

52-Week Range

Nkr40.10 - Nkr68.15

All Time High

Nkr77.00