NorAm Drilling ASOSL:NORAM +1.97%87 Net Current Asset Value is kr0.59 as of Mar. 2026, which is 100% below its 10-year median of 23.22. GuruFocus rates OSL:NORAM with a GF Score™ of 87/100 and a GF Value™ of kr33.77 (Modestly Overvalued). The stock has 3 warning signs investors should review. Among 296 Oil & Gas companies, NorAm Drilling AS ranks worse than 94.93% on this metric.
In calculating the Net Current Asset Value (NCAV), Benjamin Graham means a company's current assets (such as cash, marketable securities, and inventories) minus its total liabilities (including preferred stock, minority interest, and long-term debt).
NorAm Drilling AS's net current asset value per share for the quarter that ended in Mar. 2026 was kr0.59.
The historical rank and industry rank for NorAm Drilling AS's Net Current Asset Value or its related term are showing as below:
OSL:NORAM'
s Price-to-Net-Current-Asset-Value Range Over the Past 10 Years
Min: 15.91 Med: 23.22 Max: 81.1
Current: 65.85
During the past 7 years, the highest Price-to-Net-Current-Asset-Value Ratio of NorAm Drilling AS was 81.10. The lowest was 15.91. And the median was 23.22.
OSL:NORAM's Price-to-Net-Current-Asset-Value is ranked worse than 94.93% of 296
companies
in the Oil & Gas industry
Industry Median: 3.945
vs OSL:NORAM: 65.85
NorAm Drilling AS (OSL:NORAM) Net Current Asset Value Explanation
Benjamin Graham first discussed net current asset value (NCAV) in the 1934 edition of "Security Analysis", which he coauthored with David Dodd. In the book, (net) current asset value is defined as:" current assets alone, minus all liabilities and claims ahead of the issue."
The common definition of NCAV is: NCAV = current assets – [total liabilities + minority interest + preferred stock]
Net current assets exclude not only the intangible assets but also the fixed and miscellaneous assets. In addition, Graham believed that preferred stock belongs on the liability side of the balance sheet, not as part of capital and surplus. In "Security Analysis", preferred stock is dubbed "an imperfect creditorship position" that is best placed on the balance sheet alongside funded debt.
One research study, covering the years 1970 through 1983 showed that portfolios picked at the beginning of each year, and held for one year, returned 29.4 percent, on average, over the 13-year period, compared to 11.5 percent for the S&P 500 Index. Other studies of Grahams strategy produced similar results.
Benjamin Graham looked for companies whose market values were less than two-thirds of their Net-Net Working Capital. They are collected under our Net-Net screener.
NorAm Drilling AS Net Current Asset Value Related Terms
NorAm Drilling AS Net Current Asset Value Historical Data
* Premium members only.
The historical data trend for NorAm Drilling AS's Net Current Asset Value 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.
OSL:NORAM vs SLB, BKR, HAL: Net Current Asset Value Comparison
For the Oil & Gas Equipment & Services subindustry, NorAm Drilling AS's Price-to-Net-Current-Asset-Value, along with its competitors' market caps and Price-to-Net-Current-Asset-Value 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.
NorAm Drilling AS Price-to-Net-Current-Asset-Value vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, NorAm Drilling AS's Price-to-Net-Current-Asset-Value distribution charts can be found below:
* The bar in red indicates where NorAm Drilling AS's Price-to-Net-Current-Asset-Value falls into.
* 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.
What does a Net Current Asset Value of kr0.59 mean?
NorAm Drilling AS (OSL:NORAM) has a Net Current Asset Value of kr0.59 as of Mar. 2026. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on NorAm Drilling AS and its competitors. This is 97% below median its historical median of 23.22. Over the past decade, NorAm Drilling AS's Net Current Asset Value has ranged from 15.91 to 81.10. According to the industry distribution chart, NorAm Drilling AS ranks #281 out of 296 companies in the Oil & Gas industry, placing it in the top 94.9%.
Is NorAm Drilling AS's Net Current Asset Value too high?
NorAm Drilling AS's current Net Current Asset Value of kr0.59 is 97% below median its 10-year median of 23.22. Over the past 10 years, this metric has ranged from a low of 15.91 to a high of 81.10. Based on the distribution chart, NorAm Drilling AS ranks #281 out of 296 companies in the Oil & Gas industry, which is in the bottom quartile relative to peers. Overall, NorAm Drilling AS has a GF Score™ of 87/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does NorAm Drilling AS's Net Current Asset Value compare to SLB and BKR?
According to the Oil & Gas industry distribution chart, NorAm Drilling AS ranks #281 out of 296 companies for Net Current Asset Value. This places NorAm Drilling AS in the lower half of its industry. The industry median Net Current Asset Value is 3.95. Historically, NorAm Drilling AS's own Net Current Asset Value has ranged from 15.91 to 81.10 over the past decade. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Net Current Asset Value for an Oil & Gas company?
The median Net Current Asset Value among Oil & Gas companies is 3.95, based on 296 companies in the industry. Companies in the top quartile (top 25%) have a Net Current Asset Value significantly above this median, while those in the bottom quartile fall well below. However, Net Current Asset Value 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 Net Current Asset Value mean?
A high Net Current Asset Value can signal that a stock is expensive relative to its fundamentals. Ben Graham's net current asset value equals the per-share value of total current assets less total liabilities. View historical data on NorAm Drilling AS and its competitors. For the Oil & Gas industry, the median Net Current Asset Value is 3.95 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. NorAm Drilling AS's current Net Current Asset Value is kr0.59, which is 97% below median its own 10-year median of 23.22. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is NorAm Drilling AS stock overvalued right now?
Based on GuruFocus' analysis, NorAm Drilling AS (OSL:NORAM) is currently considered Modestly Overvalued. The stock's GF Value™ is kr33.77, compared to a current price of kr38.85 — trading 15% above its estimated fair value. The current Net Current Asset Value is kr0.59, which is 97% below median its 10-year median of 23.22. NorAm Drilling AS's overall GF Score™ is 87/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Net Current Asset Value calculated?
Net Current Asset Value is calculated from a company's financial statements. For NorAm Drilling AS (OSL:NORAM), the current Net Current Asset Value is kr0.59 as of Mar. 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 NorAm Drilling AS (OSL:NORAM) Overvalued in 2026?
Based on GuruFocus' analysis, NorAm Drilling AS stock appears to be overvalued.
The current stock price of kr38.85 is trading 15% above its estimated GF Value™ of kr33.77.
GuruFocus considers NorAm Drilling AS to be Modestly Overvalued.
Key valuation signals for OSL:NORAM:
Net Current Asset Value: kr0.59 (97% below median its 10-year median of 23.22)
GF Value™: kr33.77 vs. price of kr38.85 (15% above fair value)
No single metric tells the full story. See the OSL:NORAM stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
NorAm Drilling AS owns and operates a quality rig portfolio of super spec developed high-end AC driven rigs tailored for the drilling of horizontal wells in the USA land drilling market. These rigs are designed to combine the cost efficiency of a compact rig with the versatility of different rig classes, enabling the rigs to cover a broad range of wells for both liquids and gas. The group's operating segments are NorAm Drilling Company, which derives maximum revenue, and NorAm Drilling AS.
87GF Score
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