Norcod As
Norcod AS engages in the farming, production, operation, distribution, marketing, and sale of farmed cod products in Norway and internationally. The company was incorporated in 2018 and is headquartered in Trondheim, Norway.
Norcod As (NCOD) - Net Assets
Latest net assets as of June 2025: Nkr211.41 Million NOK
Based on the latest financial reports, Norcod As (NCOD) has net assets worth Nkr211.41 Million NOK as of June 2025.
Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr547.37 Million) and total liabilities (Nkr335.97 Million). 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.
Key Net Assets Metrics
| Metric | Value |
|---|---|
| Current Net Assets | Nkr211.41 Million |
| % of Total Assets | 38.62% |
| Annual Growth Rate | 316.14% |
| 5-Year Change | -58.19% |
| 10-Year Change | N/A |
| Growth Volatility | 37111.05 |
Norcod As - Net Assets Trend (2018–2024)
This chart illustrates how Norcod As's net assets have evolved over time, based on quarterly financial data. Explore and compare other companies by net assets.
Annual Net Assets for Norcod As (2018–2024)
The table below shows the annual net assets of Norcod As from 2018 to 2024.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Nkr156.09 Million | -30.57% |
| 2023-12-31 | Nkr224.81 Million | +27.24% |
| 2022-12-31 | Nkr176.68 Million | -48.19% |
| 2021-12-31 | Nkr341.05 Million | -8.65% |
| 2020-12-31 | Nkr373.32 Million | +1145.77% |
| 2019-12-31 | Nkr29.97 Million | +99790.00% |
| 2018-12-31 | Nkr30.00K | -- |
Equity Component Analysis
This analysis shows how different components contribute to Norcod 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 decreased by 86724600000.0% over the analyzed period, potentially due to dividend distributions or operating losses.
Current Equity Component Breakdown (December 2024)
| Component | Amount | Percentage |
|---|---|---|
| Common Stock | Nkr21.90 Million | 14.03% |
| Other Components | Nkr1.00 Billion | 641.57% |
| Total Equity | Nkr156.09 Million | 100.00% |
Norcod As Competitors by Market Cap
The table below lists competitors of Norcod As ranked by their market capitalization.
| Company | Market Cap |
|---|---|
|
International Conveyors Limited
NSE:INTLCONV
|
$13.43 Million |
|
Manx Financial Group PLC
F:3IM
|
$13.43 Million |
|
B+S GROUP SA INH EO-06
F:70B
|
$13.43 Million |
|
Atenor S.A.
LSE:0NG6
|
$13.43 Million |
|
LGMS Berhad
KLSE:0249
|
$13.42 Million |
|
Eureka Homestead Bancorp Inc
PINK:ERKH
|
$13.41 Million |
|
Global Consumer Public Company Limited
BK:GLOCON
|
$13.41 Million |
|
US Energy Corp
NASDAQ:USEG
|
$13.41 Million |
Equity Growth Attribution
This analysis shows how different factors contributed to changes in Norcod As's equity between the two most recent reporting periods.
Equity Growth Insights
- From 2023 to 2024, total equity changed from 224,807,000 to 156,092,000, a change of -68,715,000 (-30.6%).
- Net loss of 235,003,000 reduced equity.
- Share repurchases of 166,289,000 reduced equity.
- New share issuances of 166,289,000 increased equity.
- Other factors increased equity by 166,288,000.
Equity Change Factors (2023 to 2024)
| Factor | Impact | Contribution |
|---|---|---|
| Net Income | Nkr-235.00 Million | -150.55% |
| Share Repurchases | Nkr166.29 Million | -106.53% |
| Share Issuances | Nkr166.29 Million | +106.53% |
| Other Changes | Nkr166.29 Million | +106.53% |
| Total Change | Nkr- | -30.57% |
Book Value vs Market Value Analysis
This analysis compares Norcod 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: 2.83x
- The company is trading above its book value, indicating the market recognizes value beyond its reported assets.
- The price-to-book ratio has decreased from 5733.81x to 2.83x over the analyzed period, indicating reduced market premium.
Historical Price-to-Book Ratios
| Date | Book Value per Share | Market Price | P/B Ratio |
|---|---|---|---|
| 2018-12-31 | Nkr0.00 | Nkr10.10 | x |
| 2019-12-31 | Nkr1.76 | Nkr10.10 | x |
| 2020-12-31 | Nkr21.92 | Nkr10.10 | x |
| 2021-12-31 | Nkr20.02 | Nkr10.10 | x |
| 2022-12-31 | Nkr9.07 | Nkr10.10 | x |
| 2023-12-31 | Nkr7.59 | Nkr10.10 | x |
| 2024-12-31 | Nkr3.57 | Nkr10.10 | x |
Capital Efficiency Dashboard
This dashboard shows how efficiently Norcod 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): -150.55%
- The company may be facing challenges in efficiently utilizing shareholder equity.
- DuPont Analysis Breakdown:
- • Net Profit Margin: -59.17%
- • Asset Turnover: 0.59x
- • Equity Multiplier: 4.32x
- Recent ROE (-150.55%) is below the historical average (-79.43%), suggesting potential challenges in capital efficiency.
Historical Capital Efficiency Metrics
| Year | Return on Equity | Net Profit Margin | Asset Turnover | Equity Multiplier | Economic Value Added |
|---|---|---|---|---|---|
| 2019 | -34.60% | -184.86% | 0.15x | 1.22x | Nkr-13.37 Million |
| 2020 | 1.20% | 65.62% | 0.01x | 1.23x | Nkr-32.84 Million |
| 2021 | -14.92% | -70.06% | 0.12x | 1.73x | Nkr-84.99 Million |
| 2022 | -168.22% | -174.28% | 0.31x | 3.07x | Nkr-314.88 Million |
| 2023 | -109.51% | -91.37% | 0.39x | 3.09x | Nkr-268.66 Million |
| 2024 | -150.55% | -59.17% | 0.59x | 4.32x | Nkr-250.61 Million |
Industry Comparison
This section compares Norcod As's net assets metrics with peer companies in the Farm Products industry.
Industry Context
- Industry: Farm Products
- Average net assets among peers: $333,238,984
- Average return on equity (ROE) among peers: 0.09%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Norcod As (NCOD) | Nkr211.41 Million | -34.60% | 1.59x | $13.42 Million |
| Arctic Fish Holding AS (AFISH) | $30.57 Million | -12.06% | 0.97x | $31.84 Million |
| Andfjord Salmon AS (ANDF) | $475.70 Million | -11.91% | 0.34x | $10.72 Million |
| Biofish Holding AS (BFISH) | $14.15 Million | 17.24% | 8.18x | $5.15 Million |
| Gigante Salmon AS (GIGA) | $715.76 Million | -0.29% | 0.70x | $20.76 Million |
| Ice Fish Farm AS (IFISH) | $1.12 Billion | 1.78% | 0.53x | $3.01 Million |
| Icelandic Salmon As (ISLAX) | $66.08 Million | 2.38% | 0.95x | $71.17 Million |
| Kingfish Company Nv (KING) | $67.85 Million | -5.31% | 0.20x | $13.88 Million |
| Masoval AS (MAS) | $420.82 Million | 29.05% | 1.69x | $62.85 Million |
| Nordic Aqua Partners As (NOAP) | $86.88 Million | -20.05% | 0.82x | $29.44 Million |