Norcod AS (OSL:NCOD) Moat Score: 0/10 (As of Jul. 15, 2026)

Author: Vera Yuan Vera Yuan
Vera Yuan
Vera Yuan
Director of Data and Quant Analytics at GuruFocus
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.
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Charlie Tian
Founder & CEO of GuruFocus
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.

OSL:NCOD Norcod AS OSL:NCOD
54 GF Score
Price kr10.45
GF Value kr6.54
Valuation Significantly Overvalued
! 7 Warning Signs
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What is Norcod AS Moat Score?

Norcod AS has the Moat Score of 0, which implies that the company might have No Moat - No discernible moat.

Norcod AS has

Moat Score is a ranking system developed by GuruFocus to assess a company's ability to sustain a competitive advantage, rated on a scale from 0 to 10. It takes into account key factors such as market leadership, cost advantages, network effects, customer switching costs, and more.

The company's Moat Score is based on these criteria:

1. Market leadership and sustainable market share
2. Network effects and significant customer switching costs
3. Valuable intellectual property and patents
4. Strong brand strength and deep customer loyalty
5. Durable cost advantages (e.g., economies of scale, proprietary technology)
6. Significant regulatory barriers and exclusive licenses
7. Superior distribution network
8. Strong and sustainable pricing power
9. Consistent and impactful innovation and R&D capabilities

Based on the research, GuruFocus believes Norcod AS might have No Moat - No discernible moat.

Norcod AS  (OSL:NCOD) Moat Score Explanation

The Moat Score ranges from 0 to 10, with 10 as the highest. GuruFocus divided Moat Score into following 8 categories:

Moat Score Moat Level
10Wide Moat - Exceptionally dominant and durable wide moat
8 - 9Wide Moat - Clear and robust wide moat
7Wide Moat - Entry-level wide moat, clearly possessing durable advantages
6Narrow Moat - Strong narrow moat, clearly distinguishable but not wide
5Narrow Moat - Solid narrow moat
4Narrow Moat - Discernible but modest moat
1 - 3No Moat - Very weak/transient advantages
0No Moat - No discernible moat

Norcod AS Moat Score Related Terms

OSL:NCOD
54GF Score
Norcod AS OSL:NCOD
Moat Score is just one metric. See GF Score™, valuation, warning signs, and more.
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Is Norcod AS (OSL:NCOD) Overvalued in 2026?

Based on GuruFocus' analysis, Norcod AS stock appears to be overvalued. The current stock price of kr10.45 is trading 59.8% above its estimated GF Value™ of kr6.54. GuruFocus considers Norcod AS to be Significantly Overvalued.

Key valuation signals for OSL:NCOD:

  • Moat Score: 0
  • GF Value™: kr6.54 vs. price of kr10.45 (59.8% above fair value)
  • GF Score™: 54/100 with 7 warning signs

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

Norcod AS Business Description

Other Exchanges NO9:Germany
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.
54GF Score

Get the complete analysis for OSL:NCOD

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

kr10.45
Price
kr6.54
GF Value