Petrolia Noco AS
Petrolia Noco AS operates in the oil and gas exploration and production sector, generating revenue primarily through the extraction and sale of hydrocarbons.
Business. Petrolia Noco AS (PNO.NFF) is an oil and gas exploration and production company operating within the fossil fuels sector. The firm generates revenue through the sale of hydrocarbon products, with key performance indicators including production volumes, reserve replacement ratios, and operating costs per barrel of oil equivalent. Specific details regarding operating segments and geographic concentrations are not available. The company is listed under the ticker PNO.NFF.
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- 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
Signals & dispatch
Composite-score breakdown
Synthesis
Petrolia Noco AS (PNO.NFF) is an oil and gas exploration and production company operating within the fossil fuels sector. The firm generates revenue through the sale of hydrocarbon products, with key performance indicators including production volumes, reserve replacement ratios, and operating costs per barrel of oil equivalent. Specific details regarding operating segments and geographic concentrations are not available. The company is listed under the ticker PNO.NFF.
Petrolia Noco AS exhibits a highly leveraged capital structure, with a debt-to-equity ratio of 136.43, indicating that the company is financed predominantly through debt. The company's liquidity position is constrained, as evidenced by a current ratio of 0.57, suggesting that it may struggle to meet short-term obligations without additional financing. Despite a positive operating cash flow of 49.16 million NOK, the company's free cash flow is significantly lower at 18.49 million NOK, reflecting the high capital expenditures required to maintain operations.
Profitability metrics reveal a weak return on equity of 2.72%, far below the industry median for exploration and production firms, and a return on assets of 0.5%, indicating that the company is not efficiently utilizing its asset base to generate returns. Operating income of 78.65 million NOK is a positive sign, but the net income of 5.66 million NOK is relatively modest given the company's asset size and debt load.
The company's revenue is not segmented by geographic region or product line in the available data, but the high concentration of revenue in a single business activity—oil and gas exploration and production—suggests that the company is highly exposed to commodity price volatility and regional regulatory changes. This lack of diversification increases the risk profile of the company.
Looking ahead, the company is expected to see a significant increase in revenue, with analysts forecasting 792 million NOK compared to the actual 634.87 million NOK in the most recent period. However, the net income has been negative in the latest reported quarter, with an EPS of -0.07 NOK, which contrasts with the mean EPS estimate of 0.22 NOK. This discrepancy suggests that the company may be facing near-term operational challenges that could affect its ability to meet earnings expectations.
The risk assessment highlights a medium liquidity risk, primarily due to the company's high debt load and limited cash reserves. The dilution risk is currently low, as the company has not issued additional shares recently, and the number of shares outstanding remains unchanged between basic and diluted measures. However, the company's negative net cash position after subtracting total debt indicates a potential need for further financing, which could lead to future dilution.
Recent filings and transcripts do not provide specific details on new projects or strategic initiatives, but the company's capital expenditures of -48.51 million NOK suggest ongoing investment in exploration and production activities. The company's financial performance and strategic direction will likely be influenced by broader industry trends, including commodity prices and regulatory developments in the energy sector.
- Petrolia Noco AS is highly leveraged, with a debt-to-equity ratio of 136.43, indicating a significant reliance on debt financing.
- The company's return on equity of 2.72% is below the industry median, suggesting inefficiencies in capital utilization.
- Revenue is concentrated in a single business activity, increasing exposure to commodity price volatility.
- Analysts expect a significant increase in revenue, but the company's net income has been negative in the latest quarter.
- The company faces medium liquidity risk and a potential need for additional financing due to its negative net cash position.
Bull / Bear case
Generated · model-assistedCash conversion of 8.69 is best-in-class, vastly outperforming the cohort median of 0.95.
Operating income surged 112.5% year-over-year to NOK 99.8 million, demonstrating strong recent profitability growth.
Free cash flow turned positive at NOK 21.6 million in FY2026, reversing previous years of negative cash flow.
Debt-to-equity ratio of 136.43 places the company in the bottom quartile of its cohort, signaling high leverage risk.
Revenue declined 11.0% year-over-year to NOK 634.9 million, indicating a contraction in top-line growth.
The company faces medium liquidity and credit risks, which could constrain financial flexibility and increase borrowing costs.
In focus — financials by report
Revenue kr 634.9M, −11,0% YoY; Operating income +112,5% YoY.
- ▍Revenue kr 634.9M, −11,0% YoY
- ▍Operating income +112,5% YoY
- ▍Net income −201,4% YoY
- ▍Free cash flow −35,4% YoY
- ▍Net margin -1.9%
Revenue kr 713.6M, +7 174,2% YoY; Operating income +151,0% YoY.
- ▍Revenue kr 713.6M, +7 174,2% YoY
- ▍Operating income +151,0% YoY
- ▍Net income +88,2% YoY
- ▍Free cash flow +187,5% YoY
- ▍Net margin -0.6%
Revenue kr 9.8M, −71,3% YoY; Operating income +13,1% YoY.
- ▍Revenue kr 9.8M, −71,3% YoY
- ▍Operating income +13,1% YoY
- ▍Net income +10,5% YoY
- ▍Free cash flow −2,8% YoY
- ▍Net margin -350.4%
Revenue kr 34.2M, +751,3% YoY; Operating income +53,4% YoY.
- ▍Revenue kr 34.2M, +751,3% YoY
- ▍Operating income +53,4% YoY
- ▍Net income +40,2% YoY
- ▍Free cash flow +76,9% YoY
- ▍Net margin -112.4%
Revenue kr 4.0M; Operating income -kr 227.2M.
- ▍Revenue kr 4.0M
- ▍Operating income -kr 227.2M
- ▍Net margin -1600.1%
Valuation FY
Revenue by segment
Business relationships
Supply chain
Peer comparison
Market position
Stress test
Predictor forecast
| Metric | Our forecast | Guidance | Consensus |
|---|---|---|---|
| EPS | —no estimate | —no estimate | 0,22 |
| Revenue | —no estimate | —no estimate | 792,0M NOK |
| Operating income | —no estimate | —no estimate | 220,0M NOK |
Options
Short squeeze
Earnings-call key lines
Consensus distribution
sell-side coverageEstimate revisions
consensus EPS · 26-week trendSell-side observations
Themes
ESG
Risk factors
- Net cash is negative after subtracting total debt.
Benchmarks vs cohort
Corporate actions / M&A
FX exposure
Comparable transactions
Derivatives & instruments
Physical assets
2 tracked| Asset | Type | Commodity | Country | Role |
|---|---|---|---|---|
| 34/4-15 S & A Oil Field (Norway) | Oil gas extraction | Oil | Norway | Parent |
| 34/4-15 S & A Oil Field (Norway) | Oil gas extraction | Oil | Norway | Registered owner |
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- Return On Equitynet_income / total_equity
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- Cash Conversion Ratiooperating_cash_flow / net_income
- Petrolia Noco AS Market data — financials · 2026-05-29
- Petrolia Noco AS Market data — analyst estimates · 2026-05-29
Ownership & reference
Leadership
- Morten StenhaugCEO