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NEL ASANLLSF 55 Equity-to-Asset is 0.78 as of Jun. 2026, which is 4% below its 10-year median of 0.81. GuruFocus rates NLLSF with a GF Score™ of 55/100 and a GF Value™ of $0.23 (Possible Value Trap). The stock has 4 warning signs investors should review. Among 3,079 Industrial Products companies, NEL ASA ranks better than 84.05% on this metric.
Equity to Asset ratio is calculated as total stockholders equity divided by total asset. NEL ASA's Total Stockholders Equity for the quarter that ended in Jun. 2026 was $375.84 Mil. NEL ASA's Total Assets for the quarter that ended in Jun. 2026 was $484.15 Mil.
Therefore, NEL ASA's Equity to Asset Ratio for the quarter that ended in Jun. 2026 was 0.78.
The historical rank and industry rank for NEL ASA's Equity-to-Asset or its related term are showing as below:
NLLSF'
s Equity-to-Asset Range Over the Past 10 Years
Min: 0.75 Med: 0.81 Max: 0.9
Current: 0.78
During the past 13 years, the highest Equity to Asset Ratio of NEL ASA was 0.90. The lowest was 0.75. And the median was 0.81.
NLLSF's Equity-to-Asset is ranked better than 84.05% of 3079
companies
in the Industrial Products industry
Industry Median: 0.57
vs NLLSF: 0.78
Equity to Asset ratio can vary greatly across different industries, as they have different capital structure. A company with smaller Equity to Asset ratio (more leveraged) may have higher ROE % because of the leverage.
For banks, the required minimum Equity to Asset ratio by regulation is 5%. Some stronger banks may have Equity to Asset Ratio of more than 10%.
NEL ASA Equity-to-Asset Related Terms
NEL ASA Equity-to-Asset Historical Data
* Premium members only.
The historical data trend for NEL ASA's Equity-to-Asset 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 Specialty Industrial Machinery subindustry, NEL ASA's Equity-to-Asset, along with its competitors' market caps and Equity-to-Asset 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.
NEL ASA Equity-to-Asset vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NEL ASA's Equity-to-Asset distribution charts can be found below:
* The bar in red indicates where NEL ASA's Equity-to-Asset falls into.
Equity to Asset ratio measures the ratios of the portion of the asset owned by shareholders out of the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Equity to Asset ratio is calculated by dividing total stockholders equity by total asset.
NEL ASA's Equity to Asset Ratio 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.
NEL ASA (NLLSF) has a Equity-to-Asset of 0.78 as of Jun. 2026. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on NEL ASA and its competitors. This is near median its historical median of 0.81. Over the past decade, NEL ASA's Equity-to-Asset has ranged from 0.75 to 0.90. According to the industry distribution chart, NEL ASA ranks #491 out of 3079 companies in the Industrial Products industry, placing it in the top 15.9%.
Is NEL ASA's Equity-to-Asset too high?
NEL ASA's current Equity-to-Asset of 0.78 is near median its 10-year median of 0.81. Over the past 10 years, this metric has ranged from a low of 0.75 to a high of 0.90. The Industrial Products industry median Equity-to-Asset is 0.57. NEL ASA's value of 0.78 is 36.8% above this industry median. Based on the distribution chart, NEL ASA ranks #491 out of 3079 companies in the Industrial Products industry, which is in the top quartile — a strong position relative to peers. Overall, NEL ASA has a GF Score™ of 55/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's Equity-to-Asset compare to GEV and ETN?
According to the Industrial Products industry distribution chart, NEL ASA ranks #491 out of 3079 companies for Equity-to-Asset. This places NEL ASA in the top 16% of its industry — outperforming the majority of peers. The industry median Equity-to-Asset is 0.57. NEL ASA's value of 0.78 is 36.8% above this benchmark. Historically, NEL ASA's own Equity-to-Asset has ranged from 0.75 to 0.90 over the past decade. While the company's 10-year median is 0.81 vs. the industry median of 0.57, NEL ASA 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 Equity-to-Asset for an Industrial Products company?
The median Equity-to-Asset among Industrial Products companies is 0.57, based on 3,079 companies in the industry. Companies in the top quartile (top 25%) have a Equity-to-Asset significantly above this median, while those in the bottom quartile fall well below. However, Equity-to-Asset should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. NEL ASA's current Equity-to-Asset of 0.78 is 36.8% 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 Equity-to-Asset mean?
A high Equity-to-Asset can signal that a stock is expensive relative to its fundamentals. Equity-to-asset ratio equals total company equity divided by total assets. It measures financial leverage. View historical data on NEL ASA and its competitors. For the Industrial Products industry, the median Equity-to-Asset is 0.57 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NEL ASA's current Equity-to-Asset is 0.78, which is near median its own 10-year median of 0.81. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NEL ASA stock overvalued right now?
Based on GuruFocus' analysis, NEL ASA (NLLSF) is currently considered Possible Value Trap. The stock's GF Value™ is $0.23, compared to a current price of $0.15 — trading 34.8% below its estimated fair value. The current Equity-to-Asset is 0.78, which is near median its 10-year median of 0.81 and 36.8% above the Industrial Products industry median of 0.57. NEL ASA's overall GF Score™ is 55/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Equity-to-Asset calculated?
Equity-to-Asset is calculated from a company's financial statements. For NEL ASA (NLLSF), the current Equity-to-Asset is 0.78 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 NEL ASA (NLLSF) Overvalued in 2026?
Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued.
The current stock price of $0.15 is trading 34.8% below its estimated GF Value™ of $0.23.
GuruFocus considers NEL ASA to be Possible Value Trap.
Key valuation signals for NLLSF:
Equity-to-Asset: 0.78 (near median its 10-year median of 0.81)
GF Value™: $0.23 vs. price of $0.15 (34.8% below fair value)
Industry Position: 36.8% above the Industrial Products median (#491 of 3079)
No single metric tells the full story. See the NLLSF stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NEL ASA is a hydrogen company delivering optimal solutions to produce, store, and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser is a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
55GF Score
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