Norcod AS (FRA:NO9) Change In Receivables: €-0.18 Mil (TTM As of Jun. 2026)

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FRA:NO9 Norcod AS FRA:NO9
47 GF Score
Price €1.18
GF Value €0.49
! 8 Warning Signs
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What is Norcod AS Change In Receivables?

Norcod AS FRA:NO9 -0.42% 47 Change In Receivables is €-0.18 Mil as of Jun. 2026. GuruFocus rates FRA:NO9 with a GF Score™ of 47/100 and a GF Value™ of €0.49. The stock has 8 warning signs investors should review.

Norcod AS's change in receivables for the quarter that ended in Jun. 2026 was €-0.01 Mil. It means Norcod AS's Accounts Receivable increased by €0.01 Mil from Mar. 2026 to Jun. 2026 .

Norcod AS's change in receivables for the fiscal year that ended in Dec. 2025 was €0.05 Mil. It means Norcod AS's Accounts Receivable declined by €0.05 Mil from Dec. 2024 to Dec. 2025 .

Norcod AS's Accounts Receivable for the quarter that ended in Jun. 2026 was €3.11 Mil.

Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed. Norcod AS's Days Sales Outstanding for the three months ended in Jun. 2026 was 55.18.

In Ben Graham's calculation of liquidation value, Apple Inc's Accounts Receivable are only considered to be worth 75% of book value. Norcod AS's liquidation value for the three months ended in Jun. 2026 was €-33.75 Mil.

Norcod AS  (FRA:NO9) Change In Receivables Explanation

1. Accounts Receivable are created when a customer has received a product but has not yet paid for that product. Days Sales Outstanding measures of the average number of days that a company takes to collect revenue after a sale has been made. It is a financial ratio that illustrates how well a company's Accounts Receivable are being managed.

Norcod AS's Days Sales Outstanding for the quarter that ended in Jun. 2026 is calculated as:

Days Sales Outstanding
=Accounts Receivable/Revenue*Days in Period
=3.114/5.15*91
=55.18

2. In Ben Graham's calculation of liquidation value, Norcod AS's accounts receivable are only considered to be worth 75% of book value:

Norcod AS's liquidation value for the quarter that ended in Jun. 2026 is calculated as:

Liquidation Value
=Cash, Cash Equivalents, Marketable Securities-Total Liabilities+(0.75 * Accounts Receivable)+(0.5 * Total Inventories)
=0.7-54.071+0.75 * 3.114+0.5 * 34.569
=-33.75

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Norcod AS Change In Receivables Related Terms

Norcod AS Change In Receivables Historical Data

* Premium members only.

The historical data trend for Norcod AS's Change In Receivables can be seen below:

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Norcod AS Change In Receivables Chart

Norcod AS Annual Data
Trend Dec18 Dec19 Dec20 Dec21 Dec22 Dec23 Dec24 Dec25
Change In Receivables
Get a 7-Day Free Trial -3.09 0.09 0.28 1.34 0.05

Norcod AS Quarterly Data
Sep21 Dec21 Mar22 Jun22 Sep22 Dec22 Mar23 Jun23 Sep23 Dec23 Mar24 Jun24 Sep24 Dec24 Mar25 Jun25 Sep25 Dec25 Mar26 Jun26
Change In Receivables Get a 7-Day Free Trial Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only Premium Member Only 1.65 -0.51 -0.13 0.46 -0.01
FRA:NO9
47GF Score
Norcod AS FRA:NO9
Change In Receivables is just one metric. See GF Score™, valuation, warning signs, and more.
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Norcod AS Change In Receivables Calculation

Change In Accounts Receivable relative to the previous period. It is any increase or decrease in the cash a company is owed by its customers.

Change In Receivables for the trailing twelve months (TTM) ended in Jun. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was €-0.18 Mil.

* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD.
* For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.

Frequently Asked Questions Learn more about Change In Receivables →
What does a Change In Receivables of €-0.18 Mil mean?
Norcod AS (FRA:NO9) has a Change In Receivables of €-0.18 Mil as of Jun. 2026. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Norcod AS and its competitors.
Is Norcod AS's Change In Receivables too high?
Norcod AS's current Change In Receivables is €-0.18 Mil. Overall, Norcod AS has a GF Score™ of 47/100, reflecting its overall financial health beyond just this single metric.
How does Norcod AS's Change In Receivables compare to ADM and BG?
Norcod AS's Change In Receivables of €-0.18 Mil can be compared against companies in the Consumer Packaged Goods industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Change In Receivables for a Consumer Packaged Goods company?
A good Change In Receivables depends on the Consumer Packaged Goods industry context. However, Change In Receivables should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Change In Receivables mean?
A high Change In Receivables can signal that a stock is expensive relative to its fundamentals. Change in Receivables is the difference between current-period receivables and past-period receivables. View historical data for Norcod AS and its competitors. Norcod AS's current Change In Receivables is €-0.18 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norcod AS stock overvalued right now?
Norcod AS (FRA:NO9) has a current Change In Receivables of €-0.18 Mil. The stock's GF Value™ is €0.49, compared to a current price of €1.18 — trading 139.8% above its estimated fair value. The current Change In Receivables is €-0.18 Mil. Norcod AS's overall GF Score™ is 47/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Change In Receivables calculated?
Change In Receivables is calculated from a company's financial statements. For Norcod AS (FRA:NO9), the current Change In Receivables is €-0.18 Mil as of Jun. 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.

Is Norcod AS (FRA:NO9) Overvalued in 2026?

Based on GuruFocus' analysis, Norcod AS stock appears to be overvalued. The current stock price of €1.18 is trading 139.8% above its estimated GF Value™ of €0.49.

Key valuation signals for FRA:NO9:

  • Change In Receivables: €-0.18 Mil
  • GF Value™: €0.49 vs. price of €1.18 (139.8% above fair value)
  • GF Score™: 47/100 with 8 warning signs

No single metric tells the full story. See the FRA:NO9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.

Norcod AS Business Description

Other Exchanges NCOD:Norway
Address Thomas Angells Gate 22, Trondheim, NOR, 7011
Norcod AS is engaged in the business of commercial farming and selling Atlantic cod in marine facilities. The company serves customers world-wide. Its production is based in its natural cold-water habitat along the coast of Central and Northern Norway. The company's operating revenue is derived mainly from the sale of cod. The company has two operating segments: Farming, Includes activities related to fish farming operations from juvenile to harvest-ready biomass and sale of cod and liver in Norway and for export through the sales agent Sirena Group; and Harvesting, Includes harvesting activities, where farming generates maximum revenue.
47GF Score

Get the complete analysis for FRA:NO9

Change In Receivables is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.

€1.18
Price
€0.49
GF Value