Vow ASA (VOW) - Net Assets

Latest as of December 2025: Nkr216.10 Million NOK ≈ $22.74 Million USD

Based on the latest financial reports, Vow ASA (VOW) has net assets worth Nkr216.10 Million NOK (≈ $22.74 Million USD) as of December 2025. Net assets (also known as shareholders' equity or book value) represent the difference between a company's total assets (Nkr1.07 Billion ≈ $112.16 Million USD) and total liabilities (Nkr849.80 Million ≈ $89.42 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 Vow ASA (VOW) tangible net worth to evaluate the tangible quality of the company's equity base.

Key Net Assets Metrics

Metric	Value
Current Net Assets	Nkr216.10 Million
% of Total Assets	20.27%
Annual Growth Rate	N/A
5-Year Change	-56.6%
10-Year Change	400.66%
Growth Volatility	51.96

Vow ASA - Net Assets Trend (2011–2025)

This chart illustrates how Vow ASA's net assets have evolved over time, based on quarterly financial data. See defensive interval ratio of Vow ASA to measure how many days the company can operate on defensive assets alone.

Annual Net Assets for Vow ASA (2011–2025)

The table below shows the annual net assets of Vow ASA from 2011 to 2025. For live valuation and market cap data, see Vow ASA (VOW) market capitalisation.

Year	Net Assets	Change
2025-12-31	Nkr227.30 Million ≈ $23.92 Million	-58.39%
2024-12-31	Nkr546.30 Million ≈ $57.49 Million	+37.82%
2023-12-31	Nkr396.40 Million ≈ $41.71 Million	-25.29%
2022-12-31	Nkr530.60 Million ≈ $55.83 Million	+1.32%
2021-12-31	Nkr523.70 Million ≈ $55.11 Million	+63.20%
2020-12-31	Nkr320.90 Million ≈ $33.77 Million	+38.50%
2019-12-31	Nkr231.70 Million ≈ $24.38 Million	+148.34%
2018-12-31	Nkr93.30 Million ≈ $9.82 Million	+61.14%
2017-12-31	Nkr57.90 Million ≈ $6.09 Million	+27.53%
2016-12-31	Nkr45.40 Million ≈ $4.78 Million	-8.90%
2015-12-31	Nkr49.83 Million ≈ $5.24 Million	+10.47%
2014-12-31	Nkr45.11 Million ≈ $4.75 Million	+311.20%
2013-12-31	Nkr-21.36 Million ≈ $-2.25 Million	+19.47%
2012-12-31	Nkr-26.52 Million ≈ $-2.79 Million	+11.76%
2011-12-31	Nkr-30.06 Million ≈ $-3.16 Million	--

Equity Component Analysis

This analysis shows how different components contribute to Vow 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 53285400000.0% over the analyzed period, potentially due to dividend distributions or operating losses.

Current Equity Component Breakdown (December 2025)

Component	Amount	Percentage
Other Components	Nkr779.20 Million	360.74%
Total Equity	Nkr216.00 Million	100.00%

Vow ASA Competitors by Market Cap

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

Company	Market Cap
Marshall Monteagle PLC JSE:MMP	$67.55 Million
Sports Entertainment Group Ltd AU:SEG	$67.57 Million
Africa Energy Corp V:AFE	$67.59 Million
EML Payments Ltd F:A8Y1	$67.60 Million
Nahar Poly Films Limited NSE:NAHARPOLY	$67.53 Million
Invesco High Income Trust II NYSE:VLT	$67.52 Million
HNA Technology Co Ltd B SHG:900938	$67.51 Million
Sewoon Medical Co. Ltd KQ:100700	$67.48 Million

Equity Growth Attribution

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

Equity Growth Insights

From 2024 to 2025, total equity changed from 542,100,000 to 216,000,000, a change of -326,100,000 (-60.2%).
Net loss of 279,600,000 reduced equity.
Share repurchases of 500,000 reduced equity.
Other comprehensive income decreased equity by 51,900,000.
Other factors increased equity by 5,900,000.

Equity Change Factors (2024 to 2025)

Factor	Impact	Contribution
Net Income	Nkr-279.60 Million	-129.44%
Share Repurchases	Nkr500.00K	-0.23%
Other Comprehensive Income	Nkr-51.90 Million	-24.03%
Other Changes	Nkr5.90 Million	+2.73%
Total Change	Nkr-	-60.15%

Book Value vs Market Value Analysis

This analysis compares Vow 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: 2.97x
The company is trading above its book value, indicating the market recognizes value beyond its reported assets.

Historical Price-to-Book Ratios

Date	Book Value per Share	Market Price	P/B Ratio
2011-12-31	Nkr-11.94	Nkr2.21	x
2012-12-31	Nkr-10.33	Nkr2.21	x
2013-12-31	Nkr-0.31	Nkr2.21	x
2014-12-31	Nkr0.63	Nkr2.21	x
2015-12-31	Nkr0.53	Nkr2.21	x
2016-12-31	Nkr0.48	Nkr2.21	x
2017-12-31	Nkr0.61	Nkr2.21	x
2018-12-31	Nkr0.98	Nkr2.21	x
2019-12-31	Nkr2.36	Nkr2.21	x
2020-12-31	Nkr2.97	Nkr2.21	x
2021-12-31	Nkr4.53	Nkr2.21	x
2022-12-31	Nkr4.44	Nkr2.21	x
2023-12-31	Nkr3.36	Nkr2.21	x
2024-12-31	Nkr3.38	Nkr2.21	x
2025-12-31	Nkr0.74	Nkr2.21	x

Capital Efficiency Dashboard

This dashboard shows how efficiently Vow 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): -129.44%
The company may be facing challenges in efficiently utilizing shareholder equity.
DuPont Analysis Breakdown:
• Net Profit Margin: -27.04%
• Asset Turnover: 0.97x
• Equity Multiplier: 4.93x
Recent ROE (-129.44%) is below the historical average (-6.55%), suggesting potential challenges in capital efficiency.

Historical Capital Efficiency Metrics

Year	Return on Equity	Net Profit Margin	Asset Turnover	Equity Multiplier	Economic Value Added
2011	0.00%	1.34%	2.80x	0.00x	Nkr5.25 Million
2012	0.00%	5.17%	1.88x	0.00x	Nkr9.69 Million
2013	0.00%	3.03%	1.68x	0.00x	Nkr7.28 Million
2014	-20.57%	-6.37%	1.02x	3.18x	Nkr-13.79 Million
2015	8.92%	2.22%	1.19x	3.38x	Nkr-536.30K
2016	-10.57%	-2.80%	1.37x	2.77x	Nkr-9.34 Million
2017	21.76%	5.10%	1.59x	2.68x	Nkr6.81 Million
2018	28.19%	7.98%	1.70x	2.08x	Nkr16.97 Million
2019	-5.85%	-3.55%	0.63x	2.61x	Nkr-36.57 Million
2020	8.72%	6.07%	0.65x	2.22x	Nkr-4.10 Million
2021	61.86%	71.20%	0.41x	2.12x	Nkr271.04 Million
2022	2.70%	1.83%	0.54x	2.74x	Nkr-38.65 Million
2023	-39.53%	-16.90%	0.60x	3.91x	Nkr-194.46 Million
2024	-24.42%	-13.00%	0.66x	2.84x	Nkr-186.61 Million
2025	-129.44%	-27.04%	0.97x	4.93x	Nkr-301.20 Million

Industry Comparison

This section compares Vow ASA's net assets metrics with peer companies in the Pollution & Treatment Controls industry.

Industry Context

Industry: Pollution & Treatment Controls
Average net assets among peers: $233,283,982
Average return on equity (ROE) among peers: -62.87%

Peer Company Comparison

Company	Net Assets	Return on Equity	Debt-to-Equity	Market Cap
Vow ASA (VOW)	Nkr216.10 Million	0.00%	3.93x	$67.54 Million
Aker Carbon Capture ASA (ACC)	$877.84 Million	-23.25%	0.48x	$2.05 Million
Cambi ASA (CAMBI)	$150.39 Million	13.50%	1.17x	$346.89 Million
Co2 Capsol AS (CAPSL)	$33.92 Million	-127.96%	3.30x	$33.39 Million
Horisont Energi AS (HRGI)	$81.89 Million	-134.14%	0.30x	$5.74 Million
Pyrum Innovations AG (PYRUM)	$22.38 Million	-42.50%	1.28x	$125.58 Million

About Vow ASA

OL:VOW Norway Pollution & Treatment Controls

Market Cap

$67.54 Million

Nkr641.81 Million NOK

Market Cap Rank

#20809 Global

#185 in Norway

Share Price

Nkr2.21

Change (1 day)

-0.23%

52-Week Range

Nkr1.48 - Nkr3.34

All Time High

Nkr56.70