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Norcod ASFRA:NO9 +13.31%51 Days Payable is 747.21 as of Jun. 2026, which is 404% above its 10-year median of 148.16. GuruFocus rates FRA:NO9 with a GF Score™ of 51/100 and a GF Value™ of €0.45. The stock has 8 warning signs investors should review. Among 1,897 Consumer Packaged Goods companies, Norcod AS ranks better than 86.87% on this metric.
Norcod AS's average Accounts Payable for the
three
months ended in Jun. 2026 was €6.90 Mil. Norcod AS's Cost of Goods Sold for the
three
months ended in Jun. 2026 was €0.84 Mil.
Hence, Norcod AS's Days Payable for the
three
months ended in Jun. 2026 was 747.21.
The historical rank and industry rank for Norcod AS's Days Payable or its related term are showing as below:
FRA:NO9'
s Days Payable Range Over the Past 10 Years
Min: 83.46 Med: 148.16 Max: 254.31
Current: 182.81
During the past 8 years, Norcod AS's highest Days Payable was 254.31. The lowest was 83.46. And the median was 148.16.
FRA:NO9's Days Payable is ranked better than 86.87% of 1897
companies
in the Consumer Packaged Goods industry
Industry Median: 44.16
vs FRA:NO9: 182.81
Norcod AS's Days Payable
increased
from Jun. 2025 (63.61) to Jun. 2026 (747.21).
It may suggest that Norcod ASdelayed paying its suppliers.
The historical data trend for Norcod AS's Days Payable 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.
For the Farm Products subindustry, Norcod AS's Days Payable, along with its competitors' market caps and Days Payable data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Norcod AS Days Payable vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Norcod AS's Days Payable distribution charts can be found below:
* The bar in red indicates where Norcod AS's Days Payable falls into.
Days Payable indicates the number of days that the account payable relative to cost of goods sold the company has. An increase of Days Payable may suggest that the company delays paying its suppliers.
Norcod AS's Days Payable for the fiscal year that ended in Dec. 2025 is calculated as
* 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 (FRA:NO9) has a Days Payable of 747.21 as of Jun. 2026. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Norcod AS and its competitors. This is 404% above median its historical median of 148.16. Over the past decade, Norcod AS's Days Payable has ranged from 83.46 to 254.31. According to the industry distribution chart, Norcod AS ranks #249 out of 1897 companies in the Consumer Packaged Goods industry, placing it in the top 13.1%.
Is Norcod AS's Days Payable too high?
Norcod AS's current Days Payable of 747.21 is 404% above median its 10-year median of 148.16. Over the past 10 years, this metric has ranged from a low of 83.46 to a high of 254.31. The Consumer Packaged Goods industry median Days Payable is 44.16. Norcod AS's value of 747.21 is 1592.1% above this industry median. Based on the distribution chart, Norcod AS ranks #249 out of 1897 companies in the Consumer Packaged Goods industry, which is in the top quartile — a strong position relative to peers. Overall, Norcod AS has a GF Score™ of 51/100, reflecting its overall financial health beyond just this single metric.
How does Norcod AS's Days Payable compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Norcod AS ranks #249 out of 1897 companies for Days Payable. This places Norcod AS in the top 13% of its industry — outperforming the majority of peers. The industry median Days Payable is 44.16. Norcod AS's value of 747.21 is 1592.1% above this benchmark. Historically, Norcod AS's own Days Payable has ranged from 83.46 to 254.31 over the past decade. While the company's 10-year median is 148.16 vs. the industry median of 44.16, Norcod AS has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Days Payable for a Consumer Packaged Goods company?
The median Days Payable among Consumer Packaged Goods companies is 44.16, based on 1,897 companies in the industry. Companies in the top quartile (top 25%) have a Days Payable significantly above this median, while those in the bottom quartile fall well below. However, Days Payable should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Norcod AS's current Days Payable of 747.21 is 1592.1% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high Days Payable mean?
A high Days Payable can signal that a stock is expensive relative to its fundamentals. Days payable represents the average amount of days a company waits to pay its invoices from suppliers. View historical data on Norcod AS and its competitors. For the Consumer Packaged Goods industry, the median Days Payable is 44.16 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norcod AS's current Days Payable is 747.21, which is 404% above median its own 10-year median of 148.16. 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 Days Payable of 747.21. The stock's GF Value™ is €0.45, compared to a current price of €1.12 — trading 147.8% above its estimated fair value. The current Days Payable is 747.21, which is 404% above median its 10-year median of 148.16 and 1592.1% above the Consumer Packaged Goods industry median of 44.16. Norcod AS's overall GF Score™ is 51/100 with 8 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Days Payable calculated?
Days Payable is calculated from a company's financial statements. For Norcod AS (FRA:NO9), the current Days Payable is 747.21 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 €1.12 is trading 147.8% above its estimated GF Value™ of €0.45.
Key valuation signals for FRA:NO9:
Days Payable: 747.21 (404% above median its 10-year median of 148.16)
GF Value™: €0.45 vs. price of €1.12 (147.8% above fair value)
Industry Position: 1592.1% above the Consumer Packaged Goods median (#249 of 1897)
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 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.
51GF Score
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