Norwegian Air Shuttle ASA (NAS) - Net Assets

Latest as of June 2025: Nkr5.91 Billion NOK ≈ $622.32 Million USD

Based on the latest financial reports, Norwegian Air Shuttle ASA (NAS) has net assets worth Nkr5.91 Billion NOK (≈ $622.32 Million USD) as of June 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr44.19 Billion ≈ $4.65 Billion USD) and total liabilities (Nkr38.28 Billion ≈ $4.03 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 Norwegian Air Shuttle ASA liquid asset ratio to evaluate the company's liquid asset resilience ratio.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr5.91 Billion
% of Total Assets	13.38%
Annual Growth Rate	23.38%
5-Year Change	N/A
10-Year Change	144.18%
Growth Volatility	93.97

Norwegian Air Shuttle ASA - Net Assets Trend (2002–2024)

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

Annual Net Assets for Norwegian Air Shuttle ASA (2002–2024)

The table below shows the annual net assets of Norwegian Air Shuttle ASA from 2002 to 2024. For live valuation and market cap data, see how much is Norwegian Air Shuttle ASA worth.

Year	Net Assets	Change
2024-12-31	Nkr7.24 Billion ≈ $761.93 Million	+25.43%
2023-12-31	Nkr5.77 Billion ≈ $607.44 Million	+37.33%
2022-12-31	Nkr4.20 Billion ≈ $442.32 Million	+28.56%
2021-12-31	Nkr3.27 Billion ≈ $344.06 Million	+149.36%
2020-12-31	Nkr-6.62 Billion ≈ $-697.03 Million	-260.58%
2019-12-31	Nkr4.12 Billion ≈ $434.06 Million	+142.00%
2018-12-31	Nkr1.70 Billion ≈ $179.36 Million	-18.77%
2017-12-31	Nkr2.10 Billion ≈ $220.81 Million	-48.17%
2016-12-31	Nkr4.05 Billion ≈ $426.07 Million	+36.54%
2015-12-31	Nkr2.97 Billion ≈ $312.04 Million	+40.65%
2014-12-31	Nkr2.11 Billion ≈ $221.85 Million	-23.33%
2013-12-31	Nkr2.75 Billion ≈ $289.36 Million	+13.60%
2012-12-31	Nkr2.42 Billion ≈ $254.72 Million	+24.42%
2011-12-31	Nkr1.95 Billion ≈ $204.73 Million	+8.33%
2010-12-31	Nkr1.80 Billion ≈ $188.98 Million	+12.13%
2009-12-31	Nkr1.60 Billion ≈ $168.54 Million	+78.48%
2008-12-31	Nkr897.37 Million ≈ $94.43 Million	+76.55%
2007-12-31	Nkr508.27 Million ≈ $53.48 Million	+94.94%
2006-12-31	Nkr260.73 Million ≈ $27.44 Million	+84.15%
2005-12-31	Nkr141.59 Million ≈ $14.90 Million	-10.54%
2004-12-31	Nkr158.27 Million ≈ $16.65 Million	-39.94%
2003-12-31	Nkr263.53 Million ≈ $27.73 Million	+270.35%
2002-12-31	Nkr71.16 Million ≈ $7.49 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Norwegian Air Shuttle 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 decreased by 2135900000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2024)

Component	Amount	Percentage
Common Stock	Nkr96.40 Million	1.33%
Other Components	Nkr28.50 Billion	393.65%
Total Equity	Nkr7.24 Billion	100.00%

Norwegian Air Shuttle ASA Competitors by Market Cap

The table below lists competitors of Norwegian Air Shuttle ASA ranked by their market capitalization.

Company	Market Cap
Rapport Therapeutics, Inc. Common Stock NASDAQ:RAPP	$1.61 Billion
Befar Group Co Ltd SHG:601678	$1.61 Billion
JSL Construction & Development Co Ltd TW:2540	$1.61 Billion
Lanzhou LS Heavy Equipment Co SHG:603169	$1.61 Billion
Grupo Aval Acciones y Valores S.A F:6GAA	$1.61 Billion
Allied Gold Corporation NYSE:AAUC	$1.61 Billion
Allied Blenders & Distillers Ltd NSE:ABDL	$1.61 Billion
MY EG Services Bhd KLSE:0138	$1.61 Billion

Equity Growth Attribution

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

Equity Growth Insights

From 2023 to 2024, total equity changed from 5,772,600,000 to 7,240,700,000, a change of 1,468,100,000 (25.4%).
Net income of 1,355,100,000 contributed positively to equity growth.
Other comprehensive income decreased equity by 2,475,400,000.
Other factors increased equity by 2,588,400,000.

Equity Change Factors (2023 to 2024)

Factor	Impact	Contribution
Net Income	Nkr1.36 Billion	+18.72%
Other Comprehensive Income	Nkr-2.48 Billion	-34.19%
Other Changes	Nkr2.59 Billion	+35.75%
Total Change	Nkr-	25.43%

Book Value vs Market Value Analysis

This analysis compares Norwegian Air Shuttle 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: 1.93x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
The price-to-book ratio has increased from 0.01x to 1.93x over the analyzed period, suggesting growing market confidence.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	Nkr1098.71	Nkr14.50	x
2003-12-31	Nkr2666.38	Nkr14.50	x
2004-12-31	Nkr919.73	Nkr14.50	x
2005-12-31	Nkr825.16	Nkr14.50	x
2006-12-31	Nkr1430.54	Nkr14.50	x
2007-12-31	Nkr2604.75	Nkr14.50	x
2008-12-31	Nkr3536.36	Nkr14.50	x
2009-12-31	Nkr5109.35	Nkr14.50	x
2010-12-31	Nkr5479.03	Nkr14.50	x
2011-12-31	Nkr5903.36	Nkr14.50	x
2012-12-31	Nkr7349.16	Nkr14.50	x
2013-12-31	Nkr8233.85	Nkr14.50	x
2014-12-31	Nkr6288.91	Nkr14.50	x
2015-12-31	Nkr8894.26	Nkr14.50	x
2016-12-31	Nkr11194.82	Nkr14.50	x
2017-12-31	Nkr5746.83	Nkr14.50	x
2018-12-31	Nkr3883.27	Nkr14.50	x
2019-12-31	Nkr2602.49	Nkr14.50	x
2020-12-31	Nkr-263.75	Nkr14.50	x
2021-12-31	Nkr4.68	Nkr14.50	x
2022-12-31	Nkr3.73	Nkr14.50	x
2023-12-31	Nkr5.12	Nkr14.50	x
2024-12-31	Nkr7.51	Nkr14.50	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Norwegian Air Shuttle 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): 18.72%
The company demonstrates strong efficiency in generating profits from shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: 3.84%
• Asset Turnover: 0.94x
• Equity Multiplier: 5.19x
Recent ROE (18.72%) is above the historical average (-6.61%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2002	-72.88%	-13.42%	1.75x	3.10x	Nkr-58.98 Million
2003	-16.22%	-4.46%	1.83x	1.99x	Nkr-69.10 Million
2004	-69.40%	-9.08%	2.65x	2.88x	Nkr-125.67 Million
2005	19.76%	1.42%	2.92x	4.77x	Nkr13.82 Million
2006	-8.44%	-0.75%	2.77x	4.07x	Nkr-48.07 Million
2007	16.64%	2.00%	1.81x	4.59x	Nkr33.75 Million
2008	0.44%	0.06%	1.96x	3.54x	Nkr-85.79 Million
2009	27.86%	6.11%	1.46x	3.14x	Nkr286.09 Million
2010	9.52%	2.03%	1.27x	3.69x	Nkr-8.71 Million
2011	6.28%	1.16%	1.17x	4.63x	Nkr-72.43 Million
2012	18.86%	3.55%	1.08x	4.92x	Nkr214.58 Million
2013	11.69%	2.06%	1.06x	5.37x	Nkr46.58 Million
2014	-50.74%	-5.47%	0.86x	10.77x	Nkr-1.28 Billion
2015	8.30%	1.09%	0.71x	10.67x	Nkr-50.38 Million
2016	28.11%	4.36%	0.69x	9.35x	Nkr731.44 Million
2017	-86.03%	-5.80%	0.71x	20.86x	Nkr-2.00 Billion
2018	-86.60%	-3.63%	0.72x	33.18x	Nkr-1.63 Billion
2019	-39.24%	-3.70%	0.51x	20.81x	Nkr-2.02 Billion
2020	0.00%	-253.31%	0.18x	0.00x	Nkr-22.38 Billion
2021	57.21%	36.91%	0.27x	5.76x	Nkr1.54 Billion
2022	23.92%	5.33%	0.83x	5.39x	Nkr585.16 Million
2023	30.09%	6.80%	0.84x	5.29x	Nkr1.16 Billion
2024	18.72%	3.84%	0.94x	5.19x	Nkr631.03 Million

Industry Comparison

This section compares Norwegian Air Shuttle ASA's net assets metrics with peer companies in the Airlines industry.

Industry Context

Industry: Airlines
Average net assets among peers: $-210,568,000
Average return on equity (ROE) among peers: 0.00%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Norwegian Air Shuttle ASA (NAS)	Nkr5.91 Billion	-72.88%	6.47x	$1.61 Billion
Norse Atlantic ASA (NORSE)	$-210.57 Million	0.00%	0.00x	$29.39 Million

About Norwegian Air Shuttle ASA

OL:NAS Norway Airlines

Market Cap

$1.61 Billion

Nkr15.30 Billion NOK

Market Cap Rank

#7098 Global

#55 in Norway

Share Price

Nkr14.50

Change (1 day)

+1.68%

52-Week Range

Nkr12.42 - Nkr18.18

All Time High

Nkr10114.86