Elkem ASA (ELK) - Net Assets

Latest as of December 2025: Nkr24.02 Billion NOK ≈ $2.53 Billion USD

Based on the latest financial reports, Elkem ASA (ELK) has net assets worth Nkr24.02 Billion NOK (≈ $2.53 Billion USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr47.48 Billion ≈ $5.00 Billion USD) and total liabilities (Nkr23.46 Billion ≈ $2.47 Billion 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 Elkem ASA liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr24.02 Billion
% of Total Assets	50.6%
Annual Growth Rate	14.08%
5-Year Change	20.88%
10-Year Change	222.09%
Growth Volatility	25.95

Elkem ASA - Net Assets Trend (2014–2025)

This chart illustrates how Elkem ASA's net assets have evolved over time, based on quarterly financial data. Also explore Elkem ASA (ELK) total assets for the complete picture of this company's asset base.

Annual Net Assets for Elkem ASA (2014–2025)

The table below shows the annual net assets of Elkem ASA from 2014 to 2025. For live valuation and market cap data, see Elkem ASA market cap and net worth.

Year	Net Assets	Change
2025-12-31	Nkr24.02 Billion ≈ $2.53 Billion	-7.67%
2024-12-31	Nkr26.02 Billion ≈ $2.74 Billion	+6.39%
2023-12-31	Nkr24.46 Billion ≈ $2.57 Billion	-15.00%
2022-12-31	Nkr28.77 Billion ≈ $3.03 Billion	+44.77%
2021-12-31	Nkr19.88 Billion ≈ $2.09 Billion	+57.29%
2020-12-31	Nkr12.64 Billion ≈ $1.33 Billion	-2.44%
2019-12-31	Nkr12.95 Billion ≈ $1.36 Billion	-5.63%
2018-12-31	Nkr13.72 Billion ≈ $1.44 Billion	+64.70%
2017-12-31	Nkr8.33 Billion ≈ $876.86 Million	+11.71%
2016-12-31	Nkr7.46 Billion ≈ $784.91 Million	+20.95%
2015-12-31	Nkr6.17 Billion ≈ $648.95 Million	+9.32%
2014-12-31	Nkr5.64 Billion ≈ $593.60 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Elkem ASA'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 2092300900000.0% over the analyzed period, indicating profitable operations and earnings retention.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Retained Earnings	Nkr20.41 Billion	85.34%
Other Components	Nkr3.51 Billion	14.66%
Total Equity	Nkr23.92 Billion	100.00%

Elkem ASA Competitors by Market Cap

The table below lists competitors of Elkem ASA ranked by their market capitalization.

Company	Market Cap
Shandong Pharmaceutical Glass Co Ltd SHG:600529	$1.81 Billion
Globant SA F:2G2	$1.81 Billion
Relay Therapeutics Inc NASDAQ:RLAY	$1.81 Billion
Hap Seng Consolidated Bhd KLSE:3034	$1.81 Billion
Wondershare Technology Co Ltd Class A SHE:300624	$1.81 Billion
Lingyun Ind SHG:600480	$1.81 Billion
Genius Electronic Optical Co Ltd TW:3406	$1.81 Billion
Tongyu Heavy Industry SHE:300185	$1.81 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 25,912,000,000 to 23,921,000,000, a change of -1,991,000,000 (-7.7%).
Net loss of 668,000,000 reduced equity.
Dividend payments of 190,000,000 reduced retained earnings.
Other factors decreased equity by 1,133,000,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Nkr-668.00 Million	-2.79%
Dividends Paid	Nkr190.00 Million	-0.79%
Other Changes	Nkr-1.13 Billion	-4.74%
Total Change	Nkr-	-7.68%

Book Value vs Market Value Analysis

This analysis compares Elkem ASA'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: 0.72x
The company is trading below its book value, potentially indicating the market believes the assets are overvalued on the balance sheet or anticipates future losses.
The price-to-book ratio has decreased from 2.84x to 0.72x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2014-12-31	Nkr9.54	Nkr27.10	x
2015-12-31	Nkr10.40	Nkr27.10	x
2016-12-31	Nkr12.68	Nkr27.10	x
2017-12-31	Nkr20.48	Nkr27.10	x
2018-12-31	Nkr23.43	Nkr27.10	x
2019-12-31	Nkr22.12	Nkr27.10	x
2020-12-31	Nkr21.55	Nkr27.10	x
2021-12-31	Nkr31.81	Nkr27.10	x
2022-12-31	Nkr45.06	Nkr27.10	x
2023-12-31	Nkr38.37	Nkr27.10	x
2024-12-31	Nkr40.86	Nkr27.10	x
2025-12-31	Nkr37.72	Nkr27.10	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Elkem ASA 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): -2.79%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -4.04%
• Asset Turnover: 0.35x
• Equity Multiplier: 1.98x
Recent ROE (-2.79%) is below the historical average (10.20%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2014	-1.66%	-0.73%	0.81x	2.79x	Nkr-646.34 Million
2015	13.27%	5.58%	0.99x	2.40x	Nkr197.56 Million
2016	9.79%	5.14%	0.95x	2.01x	Nkr-15.30 Million
2017	11.82%	5.92%	1.01x	1.99x	Nkr150.03 Million
2018	24.50%	13.01%	0.82x	2.29x	Nkr1.97 Billion
2019	6.65%	3.84%	0.77x	2.26x	Nkr-430.60 Million
2020	1.91%	0.99%	0.78x	2.47x	Nkr-1.01 Billion
2021	23.39%	13.99%	0.79x	2.11x	Nkr2.65 Billion
2022	33.38%	21.24%	0.85x	1.84x	Nkr6.70 Billion
2023	0.30%	0.35%	0.42x	2.08x	Nkr-2.36 Billion
2024	1.88%	2.73%	0.33x	2.06x	Nkr-2.10 Billion
2025	-2.79%	-4.04%	0.35x	1.98x	Nkr-3.06 Billion

Industry Comparison

This section compares Elkem ASA's net assets metrics with peer companies in the Specialty Chemicals industry.

Industry Context

Industry: Specialty Chemicals
Average net assets among peers: $1,522,727,860
Average return on equity (ROE) among peers: -58.29%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Elkem ASA (ELK)	Nkr24.02 Billion	-1.66%	0.98x	$1.81 Billion
Bergen Carbon Solutions A/S (BCS)	$118.83 Million	-25.17%	0.05x	$14.75 Million
Borregaard ASA (BRG)	$4.45 Billion	20.07%	0.83x	$1.60 Billion
Tekna Holding AS (TEKNA)	$4.35 Million	-169.79%	9.69x	$82.34 Million

About Elkem ASA

OL:ELK Norway Specialty Chemicals

Market Cap

$1.81 Billion

Nkr17.19 Billion NOK

Market Cap Rank

#6653 Global

#49 in Norway

Share Price

Nkr27.10

Change (1 day)

-1.81%

52-Week Range

Nkr18.19 - Nkr31.00

All Time High

Nkr32.63