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.
Retained earnings is the accumulated portion of net income that is not distributed to shareholders. Norske Skog ASA's retained earnings for the quarter that ended in Mar. 2026 was kr-2,934 Mil.
Norske Skog ASA's quarterly retained earnings
declined
from Sep. 2025 (kr-2,864 Mil) to Dec. 2025 (kr-3,042 Mil) but then
increased
from Dec. 2025 (kr-3,042 Mil) to Mar. 2026 (kr-2,934 Mil).
Norske Skog ASA's annual retained earnings
declined
from Dec. 2023 (kr-2,700 Mil) to Dec. 2024 (kr-3,476 Mil) but then
increased
from Dec. 2024 (kr-3,476 Mil) to Dec. 2025 (kr-3,042 Mil).
Norske Skog ASA (OSL:NSKOG) Retained Earnings Explanation
Historically profitable companies sometimes have negative retained earnings. This is because they have cumulatively paid out more to shareholders than they reported in profits.
For example, in 2011, Microsoft had negative retained earnings. This does not mean the company lost more money than it made over the years. It just means it paid out more money than it earned.
If a company has negative retained earnings, investors should check the 10-year financial results. They should not assume that negative retained earnings prove a company has generally lost money in the past.
Of course, many companies with negative retained earnings have indeed lost money in the past.
Retained Earnings: Warren Buffett's Secret.
One of the most important indicators of durable competitive advantage. Net earnings can be paid out as dividends, used to buy back shares or retained for growth.
If the company loses more than it has accumulated, retained earnings is negative.
If a company isn't adding to its retained earnings, it isn't growing its net worth.
Rate of growth of retained earnings is good indicator whether it's benefiting from a competitive advantage.
Microsoft is negative because it chose to buyback stock and pay dividends.
The more earnings retained, the faster it grows and increases growth rate for future earnings.
Norske Skog ASA Retained Earnings Historical Data
* Premium members only.
The historical data trend for Norske Skog ASA's Retained Earnings 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.
Retained Earnings is the accumulated portion of net income that is not distributed to shareholders. Because the net income was not distributed to shareholders, shareholders' equity is increased by the same amount.
Of course, if a company loses, it is called retained losses, or accumulated losses.
What does a Retained Earnings of kr-2,934 Mil mean?
Norske Skog ASA (OSL:NSKOG) has a Retained Earnings of kr-2,934 Mil as of Mar. 2026. Retained earnings is the amount of net income not issued to shareholders. View historical data on Norske Skog ASA and its competitors.
Is Norske Skog ASA's Retained Earnings too high?
Norske Skog ASA's current Retained Earnings is kr-2,934 Mil. Overall, Norske Skog ASA has a GF Score™ of 75/100 and is considered Modestly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norske Skog ASA's Retained Earnings compare to SLVM?
Norske Skog ASA's Retained Earnings of kr-2,934 Mil can be compared against companies in the Forest Products industry. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Retained Earnings for a Forest Products company?
A good Retained Earnings depends on the Forest Products industry context. However, Retained Earnings 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 Retained Earnings mean?
A high Retained Earnings can signal that a stock is expensive relative to its fundamentals. Retained earnings is the amount of net income not issued to shareholders. View historical data on Norske Skog ASA and its competitors. Norske Skog ASA's current Retained Earnings is kr-2,934 Mil. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norske Skog ASA stock overvalued right now?
Based on GuruFocus' analysis, Norske Skog ASA (OSL:NSKOG) is currently considered Modestly Overvalued. The stock's GF Value™ is kr33.17, compared to a current price of kr41.75 — trading 25.9% above its estimated fair value. The current Retained Earnings is kr-2,934 Mil. Norske Skog ASA's overall GF Score™ is 75/100 with 9 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Retained Earnings calculated?
Retained Earnings is calculated from a company's financial statements. For Norske Skog ASA (OSL:NSKOG), the current Retained Earnings is kr-2,934 Mil 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 Norske Skog ASA (OSL:NSKOG) Overvalued in 2026?
Based on GuruFocus' analysis, Norske Skog ASA stock appears to be overvalued.
The current stock price of kr41.75 is trading 25.9% above its estimated GF Value™ of kr33.17.
GuruFocus considers Norske Skog ASA to be Modestly Overvalued.
Key valuation signals for OSL:NSKOG:
Retained Earnings: kr-2,934 Mil
GF Value™: kr33.17 vs. price of kr41.75 (25.9% above fair value)
No single metric tells the full story. See the OSL:NSKOG stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norske Skog ASA is a European company focused on the production of publication and packaging paper. The publication paper includes the production and sale of newsprint and magazine paper under the NOR brands. Packaging paper includes the production and sale of recycled containerboard under the Strato brand. Its product portfolio includes publication paper, recycled packaging paper, energy, and bioproducts. The company's core bioproducts are the nanocellulose product CEBINA and the bio-composite product CEBICO. Its reportable segments are Publication paper, Packaging paper, and Other activities. The majority of revenue is derived from the Publication paper segment. Geographically, the company generates the maximum revenue from Europe.
75GF Score
Get the complete analysis for OSL:NSKOG
Retained Earnings is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
OSL:NSKOG has been successfully added to your 
