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NCOD.OL — Oslo Børs Fishing & Farming

Norcod AS

kr10,60
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NOK
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Mcap
611,2M NOK
P/E
—
EV / Rev
—
Div yield
—
Op margin
-45,2 %
ROE
-94,5 %
Net margin
-51,2 %
Debt / equity
1,23
Beta
—
52w range
—
Volume
22,1k
Day range
kr10,00–kr10,90
Prev close
kr10,90
Open
kr10,85
Next earnings
2026-08-27
Ex-dividend
—
TR 1Y
—
About

Norcod AS is a Norwegian company engaged in the fishing and farming industry, primarily operating within the food sector.

Business. Norcod AS (NCOD.OL) is a Norwegian company operating in the Fishing & Farming industry within the Food & Beverages sector. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding its operating segments and geographic revenue mix are not available.

Classification92 %
SectorConsumer Non-Cyclicals
Business sectorFood & Beverages
IndustryFishing & Farming
ActivityFood
Generated · model-assisted
Sell-side consensus
—consensus pending
— buy— hold— sell
Avg 12m price target—
Upcoming events
  • EarningsH1 2026 earnings (expected)2026-08-27 · estimated
  • EarningsQ3 2026 earnings (expected)2026-11-05 · estimated
See all catalysts →

At a glance

Score
—
not yet scored
Valuation
—
valuation pending
Analysts
—
not yet wired
Ownership
—
not yet wired
Profitability→
-94,5 %
return on equity
Quality
—
not yet scored

What drives this business

The watch-list the newsroom runs for this company — derived from its sector path, sharpened layer by layer. Not investment advice.

— missing data

News & coverage

0
  • No recent newsroom coverage mentioning NCOD.

    • Sector rotation

    Sector1D1Mvs mkt
    Materials+2,3 %+6,6 %+1,7 %
    Communication Services+2,2 %−5,5 %+1,6 %
    Energy+0,6 %+3,3 %+0,0 %
    Health Care+0,6 %−0,8 %+0,0 %
    Information Technology+0,6 %+6,7 %+0,0 %
    Consumer Discretionary+0,4 %+7,6 %−0,2 %
    Financials−0,3 %−2,8 %−0,9 %
    Consumer Staples · THIS SECTOR−0,4 %+2,5 %−1,0 %
    Real Estate−0,7 %+10,9 %−1,3 %
    Industrials−1,9 %−3,1 %−2,5 %
    Utilities−1,9 %+28,2 %−2,5 %

    Developing storylines

    No tracked sagas currently linked to NCOD.OL. Browse all sagas →

    Analysis

    AI analysis
    Generated · analysis pipeline · tier hybrid · as of 2026-08-04 ↑ At a glance

    Opportunity

    — missing data

    Upcoming catalysts

    Scheduled public events. Informational only — not investment advice.

    • Company
    • EarningsH1 2026 earnings (expected)2026-08-27 · estimated
    • EarningsQ3 2026 earnings (expected)2026-11-05 · estimated
    • Macro
    • Rate decisionBank of England rate decision (press conf.)2026-08-06 · GB
    • Rate decisionReserve Bank of Australia rate decision (press conf.)2026-08-12 · AU
    • Rate decisionNorges Bank rate decision (press conf.)2026-08-20 · NO
    • Rate decisionSveriges Riksbank rate decision (press conf.)2026-09-03 · SE
    • Rate decisionBank of Canada rate decision (press conf.)2026-09-09 · CA
    • Rate decisionEuropean Central Bank rate decision (press conf.)2026-09-10 · EU
    • Macro & political
    • ElectionSE Swedish Election2026-09-14 · SE
    • ElectionUS U.S. Midterms2026-11-03 · US
    • ElectionFR French Legislative2027-06-01 · FR

    Pre-earnings brief

    — missing data

    Signals & dispatch

    peak dispatch · —

    Composite-score breakdown

    Synthesis

    Business

    Norcod AS (NCOD.OL) is a Norwegian company operating in the Fishing & Farming industry within the Food & Beverages sector. The firm is headquartered in Norway and is primarily listed on the Oslo Børs. Specific details regarding its operating segments and geographic revenue mix are not available.

    Classification92 %
    SectorConsumer Non-Cyclicals
    Business sectorFood & Beverages
    IndustryFishing & Farming
    ActivityFood
    AI synthesis
    GENERATED

    Norcod AS has a market capitalization of NOK 616.96 million and a price-to-book ratio of 2.56, indicating that the market values the company at a premium to its book value. The company's liquidity position is characterized by a current ratio of 1.23, suggesting a moderate ability to meet short-term obligations. However, the company's operating cash flow is negative at NOK -197.14 million, and free cash flow is also negative at NOK -211.93 million, indicating a lack of cash generation from operations.

    In terms of profitability, Norcod AS reported a net loss of NOK -227.46 million and an operating loss of NOK -200.66 million, with a return on equity of -0.9453 and a return on assets of -0.3744, both of which are significantly below the industry median for the Fishing & Farming sector. The company's gross profit of NOK 46.98 million is modest relative to its revenue of NOK 444.37 million, indicating a low margin business model.

    Norcod AS operates in a single business segment, with no disclosed geographic diversification in the provided data. The company's revenue is entirely attributed to its core operations in the fishing and farming industry, with no material exposure to other markets or segments.

    The company's growth trajectory is currently negative, with a net loss and declining cash flows. The outlook for the current fiscal year is not provided, but the company's financial performance suggests a challenging operating environment. The capital expenditure of NOK -28.85 million indicates ongoing investment, but the lack of positive cash flow from operations may constrain future growth.

    The risk assessment for Norcod AS highlights a medium liquidity risk and a low dilution risk. The company's debt-to-equity ratio of 1.23 and long-term debt of NOK 296.62 million suggest a leveraged capital structure, which could increase financial risk in a downturn. The negative net cash position, after subtracting total debt, is a key flag indicating potential liquidity constraints.

    Recent events and filings for Norcod AS are not detailed in the provided data. However, the company's financial performance and risk profile suggest that investors should monitor its cash flow generation and debt management strategies closely.

    Key takeaways
    • Norcod AS is operating at a net loss with negative cash flows, indicating financial distress.
    • The company's liquidity position is moderate, with a current ratio of 1.23.
    • Norcod AS has a leveraged capital structure with a debt-to-equity ratio of 1.23.
    • The company's profitability metrics are significantly below industry medians.
    • The company's growth trajectory is currently negative, with no clear signs of improvement.
    • Investors should monitor Norcod AS's cash flow generation and debt management strategies.

    Bull / Bear case

    Generated · model-assisted
    — missing data

    In focus — financials by report

    Valuation

    Market price
    kr10,60
    Market cap
    kr617.0M
    Enterprise valueⓘ
    kr901.3M
    P/Eⓘ
    —
    Non-GAAP P/Eⓘ
    —
    EV / Revenueⓘ
    —
    EV / Op incomeⓘ
    —
    EV / OCFⓘ
    —
    P / Bⓘ
    2.6x
    P / Tangible bookⓘ
    2.6x
    Tangible book
    kr240.6M
    Net cashⓘ
    -kr284.3M
    Current ratioⓘ
    1.2
    Debt / equityⓘ
    1.2
    ROAⓘ
    -37.4%
    ROEⓘ
    -94.5%
    Cash conversionⓘ
    87.0%
    CapEx / revenueⓘ
    -6.5%
    SBC / revenueⓘ
    —
    Dilution ratioⓘ
    0.0%

    Revenue by segment

    Market share

    — missing data

    Business relationships

    — missing data

    Supply chain

    — missing data

    Peer comparison

    — missing data

    Market position

    Stress test

    — missing data

    Predictor forecast

    Options

    — missing data

    Short squeeze

    — missing data

    Earnings-call key lines

    — missing data

    Estimate revisions

    consensus EPS · 26-week trend
    — missing data

    Sell-side observations

    — missing data

    Themes

    — missing data

    ESG

    — missing data

    Risk factors

    Dilution riskLow
    Liquidity riskMedium
    Filing-based flags
    • Net cash is negative after subtracting total debt.

    Benchmarks vs cohort

    Op Margin-45,1 %Bottom quartile
    Net Margin-51,2 %Bottom quartile
    ROE-94,5 %Bottom quartile
    Capex / Rev-6,5 %Below median
    D/E1,23Bottom quartile
    Cash Conv0,87Below median

    Corporate actions / M&A

    — missing data

    FX exposure

    — missing data

    Comparable transactions

    — missing data

    Derivatives & instruments

    — missing data

    Actions

    Ask Handelsavisen

    — missing data
    Data sources
    • Market data
    • Market data cache
    • Issuer disclosures
    • Public news
    • Earnings transcripts
    • Consensus estimates
    • ESG data
    How metrics are computed
    • Return On Equity
      net_income / total_equity
    • Price To Book
      market_price / (adjusted_book_value / shares_outstanding_diluted)
    • Dilution Ratio
      (shares_outstanding_diluted - shares_outstanding_basic) / shares_outstanding_basic
    • Market Price
      input from market-data provider (delayed close or quote-shim mid)
    • Market Cap
      market_price * shares_outstanding_diluted
    • Ev To Revenue
      enterprise_value / revenue
    Source documents
    • Norcod AS Market data — financials · 2026-05-28

    Ownership & reference

    Leadership

    • Christian RiberCEO

    Insider activity

    — missing data

    Short positioning

    — missing data

    Geographic breakdown

    — missing data
    Listings · one canonical issuer all listings resolve to the canonical
    NCOD.OLCanonical
    Oslo Børs · NOK

    Intel & risk

    peak dispatch · —
    OSINT findings
    Dilution riskLow
    Liquidity riskMedium
    Net cash is negative after subtracting total debt.

    Evidence & claims

    From filings & derived data
    • Net margin (FY 2024-12-31): -59.1%Derived (calculated)
    • Return on equity (FY 2024-12-31): -142.5%Derived (calculated)
    • Return on assets (FY 2024-12-31): -43.9%Derived (calculated)
    • Current ratio (FY 2024-12-31): 1.10xDerived (calculated)
    • Debt-to-equity (FY 2024-12-31): 2.24xDerived (calculated)
    • Non current liabilities (annual): NOK 29.82MBRREG filing
    • Current liabilities (annual): NOK 325.97MBRREG filing
    • Total liabilities (annual): NOK 355.78MBRREG filing
    • Shareholders' equity (annual): NOK 158.5MBRREG filing
    • Total equity & liabilities (annual): NOK 514.28MBRREG filing
    • Non current assets (annual): NOK 156.17MBRREG filing
    • Current assets (annual): NOK 358.11MBRREG filing
    • Total assets (annual): NOK 514.28MBRREG filing
    • Finance expense (annual): NOK 21MBRREG filing
    • Total operating expenses (annual): NOK 588.21MBRREG filing
    • Revenue (annual): NOK 381.98MBRREG filing
    • Operating income (annual): NOK -206.23MBRREG filing
    • Pre-tax income (annual): NOK -226MBRREG filing
    • Net income (annual): NOK -225.82MBRREG filing
    Atomic claims from regulatory filings and derived calculations. Provenance shown as source kind only.

    The Thread

    Everything we know, in order
    2026-11-05EVENTUpcomingQ3 2026 earnings (expected) estimated date
    2026-08-27EVENTUpcomingH1 2026 earnings (expected) estimated date
    2026-06-05 04:05 UTCFILINGRegulatory filing →
    2026-05-21 05:23 UTCFILINGRegulatory filing →
    The entity's full life in the product — typed, chronological, joined across Newspaper, Platform and Data. Our memory, made visible.
    Sources filings · IR · transcripts · market data · tier hybrid · as of 2026-08-04 Market data · Issuer disclosures · Public news · Earnings transcripts · Consensus estimates · ESG data Premium coverage