Norcod As (NCOD) - Net Assets
Based on the latest financial reports, Norcod As (NCOD) has net assets worth Nkr211.41 Million NOK (≈ $22.25 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 (Nkr547.37 Million ≈ $57.60 Million USD) and total liabilities (Nkr335.97 Million ≈ $35.35 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 financial resilience of Norcod As to evaluate the company's liquid asset resilience ratio.
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. Also explore NCOD total assets for the complete picture of this company's asset base.
Annual Net Assets for Norcod As (2018–2024)
The table below shows the annual net assets of Norcod As from 2018 to 2024. For live valuation and market cap data, see NCOD market cap.
| Year | Net Assets | Change |
|---|---|---|
| 2024-12-31 | Nkr156.09 Million ≈ $16.43 Million |
-30.57% |
| 2023-12-31 | Nkr224.81 Million ≈ $23.66 Million |
+27.24% |
| 2022-12-31 | Nkr176.68 Million ≈ $18.59 Million |
-48.19% |
| 2021-12-31 | Nkr341.05 Million ≈ $35.89 Million |
-8.65% |
| 2020-12-31 | Nkr373.32 Million ≈ $39.28 Million |
+1145.77% |
| 2019-12-31 | Nkr29.97 Million ≈ $3.15 Million |
+99790.00% |
| 2018-12-31 | Nkr30.00K ≈ $3.16K |
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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 |
|---|---|
|
Copartner Technology Corp
TW:3550
|
$69.12 Million |
|
Yojee Ltd
AU:YOJ
|
$69.16 Million |
|
Teleste Oyj
HE:TLT1V
|
$69.17 Million |
|
Tsann Kuen Enterprise Co Ltd
TW:2430
|
$69.18 Million |
|
Bibica Corp
VN:BBC
|
$69.11 Million |
|
Savezone I C
KO:067830
|
$69.08 Million |
|
Sukhjit Starch & Chemicals Limited
NSE:SUKHJITS
|
$69.03 Million |
|
APEX International Financial Engineering Res & Tech Co Ltd
TWO:5210
|
$69.00 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: 3.20x
- 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 6471.83x to 3.20x 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 | Nkr11.40 | x |
| 2019-12-31 | Nkr1.76 | Nkr11.40 | x |
| 2020-12-31 | Nkr21.92 | Nkr11.40 | x |
| 2021-12-31 | Nkr20.02 | Nkr11.40 | x |
| 2022-12-31 | Nkr9.07 | Nkr11.40 | x |
| 2023-12-31 | Nkr7.59 | Nkr11.40 | x |
| 2024-12-31 | Nkr3.57 | Nkr11.40 | 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: $464,573,167
- Average return on equity (ROE) among peers: -10.45%
Peer Company Comparison
| Company | Net Assets | Return on Equity | Debt-to-Equity | Market Cap |
|---|---|---|---|---|
| Norcod As (NCOD) | Nkr211.41 Million | -34.60% | 1.59x | $69.12 Million |
| Andfjord Salmon AS (ANDF) | $146.81 Million | -4.36% | 0.03x | $269.71 Million |
| Atlantic Sapphire As (ASA) | $208.68 Million | -6.30% | 0.21x | $4.35 Million |
| Austevoll Seafood ASA (AUSS) | $982.04 Million | 24.51% | 2.16x | $2.00 Billion |
| P/f Bakkafrost (BAKKA) | $1.06 Billion | 30.48% | 1.17x | $2.92 Billion |
| Barramundi Group Ltd (BARRA) | $22.83 Million | -134.45% | 2.17x | $8.90 Million |
| Biofish Holding AS (BFISH) | $194.63 Million | -9.16% | 0.33x | $20.74 Million |
| Clean Seas Seafood Ltd. (CSS) | $51.55 Million | 0.39% | 0.12x | $19.84 Million |
| Gigante Salmon AS (GIGA) | $65.28 Million | -0.74% | 0.03x | $134.80 Million |
| Grieg Seafood ASA (GSF) | $1.69 Billion | -7.29% | 1.47x | $382.21 Million |
| Ice Fish Farm AS (IFISH) | $222.74 Million | 2.36% | 1.49x | $50.69 Million |
About 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.