Photocure (PHO) - Net Assets

Latest as of June 2026: Nkr606.75 Million NOK ≈ $63.85 Million USD

Based on the latest financial reports, Photocure (PHO) has net assets worth Nkr606.75 Million NOK (≈ $63.85 Million USD) as of June 2026. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr901.41 Million ≈ $94.85 Million USD) and total liabilities (Nkr294.67 Million ≈ $31.01 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 PHO PP&E to net assets ratio to assess the company's strategic physical and investment asset allocation.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr606.75 Million
% of Total Assets	67.31%
Annual Growth Rate	1.22%
5-Year Change	-3.66%
10-Year Change	92.2%
Growth Volatility	119.87

Photocure - Net Assets Trend (2000–2025)

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

Annual Net Assets for Photocure (2000–2025)

The table below shows the annual net assets of Photocure from 2000 to 2025. Also explore Photocure (PHO) net asset momentum to track the company's year-over-year net asset growth rate.

Year	Net Assets	Change
2025-12-31	Nkr484.23 Million ≈ $50.96 Million	-3.49%
2024-12-31	Nkr501.72 Million ≈ $52.79 Million	+3.91%
2023-12-31	Nkr482.85 Million ≈ $50.81 Million	+4.35%
2022-12-31	Nkr462.73 Million ≈ $48.69 Million	-7.94%
2021-12-31	Nkr502.63 Million ≈ $52.89 Million	-1.08%
2020-12-31	Nkr508.13 Million ≈ $53.47 Million	+143.60%
2019-12-31	Nkr208.59 Million ≈ $21.95 Million	+18.29%
2018-12-31	Nkr176.34 Million ≈ $18.56 Million	-19.14%
2017-12-31	Nkr218.08 Million ≈ $22.95 Million	-13.44%
2016-12-31	Nkr251.94 Million ≈ $26.51 Million	+19.94%
2015-12-31	Nkr210.06 Million ≈ $22.10 Million	-12.50%
2014-12-31	Nkr240.06 Million ≈ $25.26 Million	-10.80%
2013-12-31	Nkr269.12 Million ≈ $28.32 Million	-29.23%
2012-12-31	Nkr380.27 Million ≈ $40.02 Million	-13.45%
2011-12-31	Nkr439.34 Million ≈ $46.23 Million	-4.25%
2010-12-31	Nkr458.85 Million ≈ $48.28 Million	+10.36%
2009-12-31	Nkr415.78 Million ≈ $43.75 Million	+108.21%
2008-12-31	Nkr199.69 Million ≈ $21.01 Million	-23.19%
2007-12-31	Nkr259.99 Million ≈ $27.36 Million	-20.48%
2006-12-31	Nkr326.94 Million ≈ $34.40 Million	+574.58%
2005-12-31	Nkr48.47 Million ≈ $5.10 Million	-43.36%
2004-12-31	Nkr85.57 Million ≈ $9.00 Million	-35.13%
2003-12-31	Nkr131.90 Million ≈ $13.88 Million	-21.02%
2002-12-31	Nkr167.00 Million ≈ $17.57 Million	-35.62%
2001-12-31	Nkr259.40 Million ≈ $27.30 Million	-27.41%
2000-12-31	Nkr357.36 Million ≈ $37.60 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Photocure'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 2541000000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Common Stock	Nkr13.56 Million	2.80%
Other Components	Nkr496.08 Million	102.45%
Total Equity	Nkr484.23 Million	100.00%

Photocure Competitors by Market Cap

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

Company	Market Cap
Hooker Furniture Corporation NASDAQ:HOFT	$141.15 Million
Moller Y Perez SN:MOLLER	$141.19 Million
HIM International Music TWO:8446	$141.20 Million
Hanjin Transportation Co. Ltd. KO:002320	$141.20 Million
Espey Mfg & Electronics Corp NYSE MKT:ESP	$141.00 Million
Atrem S.A. WAR:ATR	$140.98 Million
Sunko Ink Co Ltd TW:1721	$140.96 Million
Lucky Cement Co TW:1108	$140.90 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 501,716,000 to 484,231,000, a change of -17,485,000 (-3.5%).
Net loss of 1,518,000 reduced equity.
Share repurchases of 29,681,000 reduced equity.
Other factors increased equity by 13,714,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Nkr-1.52 Million	-0.31%
Share Repurchases	Nkr29.68 Million	-6.13%
Other Changes	Nkr13.71 Million	+2.83%
Total Change	Nkr-	-3.49%

Book Value vs Market Value Analysis

This analysis compares Photocure'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: 2.74x
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 5.19x to 2.74x over the analyzed period, indicating reduced market premium.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2002-12-31	Nkr9.59	Nkr49.80	x
2003-12-31	Nkr7.48	Nkr49.80	x
2004-12-31	Nkr4.86	Nkr49.80	x
2005-12-31	Nkr2.75	Nkr49.80	x
2006-12-31	Nkr15.30	Nkr49.80	x
2007-12-31	Nkr11.70	Nkr49.80	x
2008-12-31	Nkr9.04	Nkr49.80	x
2009-12-31	Nkr18.82	Nkr49.80	x
2010-12-31	Nkr20.99	Nkr49.80	x
2011-12-31	Nkr20.39	Nkr49.80	x
2012-12-31	Nkr17.81	Nkr49.80	x
2013-12-31	Nkr12.63	Nkr49.80	x
2014-12-31	Nkr11.25	Nkr49.80	x
2015-12-31	Nkr9.78	Nkr49.80	x
2016-12-31	Nkr11.70	Nkr49.80	x
2017-12-31	Nkr10.12	Nkr49.80	x
2018-12-31	Nkr8.15	Nkr49.80	x
2019-12-31	Nkr9.55	Nkr49.80	x
2020-12-31	Nkr20.49	Nkr49.80	x
2021-12-31	Nkr18.54	Nkr49.80	x
2022-12-31	Nkr17.04	Nkr49.80	x
2023-12-31	Nkr17.81	Nkr49.80	x
2024-12-31	Nkr18.51	Nkr49.80	x
2025-12-31	Nkr18.20	Nkr49.80	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Photocure 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): -0.31%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -0.29%
• Asset Turnover: 0.75x
• Equity Multiplier: 1.46x
Recent ROE (-0.31%) is above the historical average (-11.49%), indicating improving capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2002	-57.49%	-380.62%	0.08x	1.79x	Nkr-112.70 Million
2003	-32.65%	-77.54%	0.24x	1.78x	Nkr-55.87 Million
2004	-52.73%	-57.87%	0.45x	2.03x	Nkr-53.57 Million
2005	-78.84%	-71.23%	0.51x	2.18x	Nkr-43.06 Million
2006	26.02%	40.45%	0.56x	1.15x	Nkr52.39 Million
2007	-28.94%	-75.72%	0.33x	1.16x	Nkr-100.87 Million
2008	-32.24%	-62.98%	0.43x	1.19x	Nkr-84.35 Million
2009	75.13%	645.04%	0.11x	1.10x	Nkr270.80 Million
2010	3.94%	10.20%	0.35x	1.12x	Nkr-27.79 Million
2011	-1.71%	-6.50%	0.23x	1.16x	Nkr-51.45 Million
2012	-12.60%	-35.79%	0.31x	1.14x	Nkr-85.93 Million
2013	-21.90%	-70.50%	0.28x	1.12x	Nkr-85.86 Million
2014	-10.29%	-19.15%	0.48x	1.13x	Nkr-48.71 Million
2015	-17.22%	-26.85%	0.54x	1.18x	Nkr-57.18 Million
2016	14.01%	24.58%	0.50x	1.13x	Nkr10.11 Million
2017	-15.91%	-22.99%	0.57x	1.21x	Nkr-56.51 Million
2018	-20.82%	-20.22%	0.79x	1.31x	Nkr-54.34 Million
2019	15.26%	11.31%	1.09x	1.23x	Nkr10.97 Million
2020	-4.41%	-8.73%	0.33x	1.53x	Nkr-73.22 Million
2021	-6.15%	-8.57%	0.46x	1.57x	Nkr-81.16 Million
2022	-15.53%	-18.28%	0.55x	1.55x	Nkr-118.13 Million
2023	0.20%	0.20%	0.70x	1.47x	Nkr-47.31 Million
2024	-0.67%	-0.64%	0.71x	1.47x	Nkr-53.51 Million
2025	-0.31%	-0.29%	0.75x	1.46x	Nkr-49.94 Million

Industry Comparison

This section compares Photocure's net assets metrics with peer companies in the Drug Manufacturers - Specialty & Generic industry.

Industry Context

Industry: Drug Manufacturers - Specialty & Generic
Average net assets among peers: $328,814,000
Average return on equity (ROE) among peers: 22.73%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Photocure (PHO)	Nkr606.75 Million	-57.49%	0.49x	$141.05 Million
Vistin Pharma ASA (VISTN)	$328.81 Million	22.73%	0.34x	$85.16 Million

About Photocure

OL:PHO Norway Drug Manufacturers - Specialty & Generic

Market Cap

$141.05 Million

Nkr1.34 Billion NOK

Market Cap Rank

#17945 Global

#156 in Norway

Share Price

Nkr49.80

Change (1 day)

-1.97%

52-Week Range

Nkr48.10 - Nkr79.00

All Time High

Nkr150.90