Focused on building reliable datasets, financial models, and research tools for value-minded investors. Committed to turning complex data into practical guidance for value-investing and long-term wealth.
Dr. Charlie Tian is the founder and CEO of GuruFocus.com, a leading global investment research platform established in 2004. With a Ph.D. in physics, Dr. Tian transitioned from science to finance, applying a data-driven, disciplined approach to value investing.
Liabilities-to-Assets is a solvency ratio indicating how much of the company’s assets are made of liabilities, calculated as total liabilities divided by total asset. NEL ASA's Total Liabilities for the quarter that ended in Jun. 2026 was $108.31 Mil. NEL ASA's Total Assets for the quarter that ended in Jun. 2026 was $484.15 Mil.
Therefore, NEL ASA's Liabilities-to-Assets Ratio for the quarter that ended in Jun. 2026 was 0.22.
NEL ASA (OTCPK:NLLSF) Liabilities-to-Assets Explanation
Liabilities-to-Assets is a solvency ratio indicating how much of the company’s assets are made of liabilities. It can vary greatly across different industries, as they have different capital structure. A high Liabilities-to-Assets ratio (more leveraged) suggests that the company might have potential solvency problems, or even a signal of financial distress. Conversely, a low Liabilities-to-Assets ratio usually indicates a healthy financial situation. However, it may also suggest that the company is not expanding or not making good use of debt.
NEL ASA Liabilities-to-Assets Related Terms
NEL ASA Liabilities-to-Assets Historical Data
* Premium members only.
The historical data trend for NEL ASA's Liabilities-to-Assets 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.
NLLSF vs GEV, ETN, PH: Liabilities-to-Assets Comparison
For the Specialty Industrial Machinery subindustry, NEL ASA's Liabilities-to-Assets, along with its competitors' market caps and Liabilities-to-Assets 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 Liabilities-to-Assets vs Industrial Products Industry
For the Industrial Products industry and Industrials sector, NEL ASA's Liabilities-to-Assets distribution charts can be found below:
* The bar in red indicates where NEL ASA's Liabilities-to-Assets falls into.
Liabilities-to-Assets ratio measures the portion of the total liabilities to the total asset. It indicates the leverage of the company, and the amount of debt the company uses in its operation.
Liabilities-to-Assets ratio is calculated by dividing total liabilities by total asset.
NEL ASA's Liabilities-to-Assets 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 Liabilities-to-Assets of 0.22 as of Jun. 2026. Liabilities-to-Assets equals total liabilities divided by total assets. It measures financial leverage. View historical data on NEL ASA and its competitors.
Is NEL ASA's Liabilities-to-Assets too high?
NEL ASA's current Liabilities-to-Assets is 0.22. Overall, NEL ASA has a GF Score™ of 56/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does NEL ASA's Liabilities-to-Assets compare to GEV and ETN?
NEL ASA's Liabilities-to-Assets of 0.22 can be compared against companies in the Industrial Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Liabilities-to-Assets for an Industrial Products company?
A good Liabilities-to-Assets depends on the Industrial Products industry context. However, Liabilities-to-Assets 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 Liabilities-to-Assets mean?
A high Liabilities-to-Assets can signal that a stock is expensive relative to its fundamentals. Liabilities-to-Assets equals total liabilities divided by total assets. It measures financial leverage. View historical data on NEL ASA and its competitors. NEL ASA's current Liabilities-to-Assets is 0.22. 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 $0.12, compared to a current price of $0.11 — trading 5% below its estimated fair value. The current Liabilities-to-Assets is 0.22. NEL ASA's overall GF Score™ is 56/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Liabilities-to-Assets calculated?
Liabilities-to-Assets is calculated from a company's financial statements. For NEL ASA (NLLSF), the current Liabilities-to-Assets is 0.22 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 $0.11 is trading 5% below its estimated GF Value™ of $0.12.
GuruFocus considers NEL ASA to be Possible Value Trap.
Key valuation signals for NLLSF:
Liabilities-to-Assets: 0.22
GF Value™: $0.12 vs. price of $0.11 (5% below fair value)
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.
56GF Score
Get the complete analysis for NLLSF
Liabilities-to-Assets is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
NLLSF has been successfully added to your 
