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Return-on-Tangible-Asset is calculated as Net Income divided by its average total tangible assets. Total tangible assets equals to Total Assets minus Intangible Assets. Norse Atlantic ASA's annualizedNet Income for the quarter that ended in Mar. 2026 was kr-928 Mil. Norse Atlantic ASA's average total tangible assets for the quarter that ended in Mar. 2026 was kr8,884 Mil. Therefore, Norse Atlantic ASA's annualized Return-on-Tangible-Asset for the quarter that ended in Mar. 2026 was -10.45%.
The historical rank and industry rank for Norse Atlantic ASA's Return-on-Tangible-Asset or its related term are showing as below:
OSL:NORSE'
s Return-on-Tangible-Asset Range Over the Past 10 Years
Min: -26.55 Med: -13.26 Max: -2.76
Current: -7.4
During the past 5 years, Norse Atlantic ASA's highest Return-on-Tangible-Asset was -2.76%. The lowest was -26.55%. And the median was -13.26%.
OSL:NORSE's Return-on-Tangible-Asset is ranked worse than 92.67% of 1010
companies
in the Transportation industry
Industry Median: 3.775
vs OSL:NORSE: -7.40
Return-on-Tangible-Asset measures the rate of return on the average total tangible assets (total assets minus intangible assets). Tangible means physical in nature. Intangible Assets are assets that are not physical in nature, and typically "derive their value from legal or intellectual rights." Return-on-Tangible-Asset measures a firm's efficiency at generating profits from its tangible assets. It shows how well a company uses what it has to generate earnings. Return-on-Tangible-Assets can vary drastically across industries. Therefore, Return-on-Tangible-Asset should not be used to compare companies in different industries.
Be Aware
Like ROE and ROA, Return-on-Tangible-Asset is calculated with only 12 months data. Fluctuations in the companys earnings or business cycles can affect the ratio drastically. It is important to look at the ratio from a long term perspective. Return-on-Tangible-Asset can be affected by events such as stock buyback or issuance, and by a companys tax rate and its interest payment. Return-on-Tangible-Asset may not reflect the true earning power of the assets. A more accurate measurement is ROC % (ROC).
Many analysts argue the higher return the better. Buffett states that really high Return-on-Tangible-Asset may indicate vulnerability in the durability of the competitive advantage.
Norse Atlantic ASA Return-on-Tangible-Asset Related Terms
Norse Atlantic ASA Return-on-Tangible-Asset Historical Data
* Premium members only.
The historical data trend for Norse Atlantic ASA's Return-on-Tangible-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.
OSL:NORSE vs DAL, UAL, LUV: Return-on-Tangible-Asset Comparison
For the Airlines subindustry, Norse Atlantic ASA's Return-on-Tangible-Asset, along with its competitors' market caps and Return-on-Tangible-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.
Norse Atlantic ASA Return-on-Tangible-Asset vs Transportation Industry
For the Transportation industry and Industrials sector, Norse Atlantic ASA's Return-on-Tangible-Asset distribution charts can be found below:
* The bar in red indicates where Norse Atlantic ASA's Return-on-Tangible-Asset 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.
In the calculation of annual Return-on-Tangible-Asset, the net income of the last fiscal year and the average total tangible assets over the fiscal year are used. In calculating the quarterly data,
the Net Income data used here is four times the quarterly (Mar. 2026) net income data.
What does a Return-on-Tangible-Asset of -10.45% mean?
Norse Atlantic ASA (OSL:NORSE) has a Return-on-Tangible-Asset of -10.45% as of Mar. 2026. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Norse Atlantic ASA and its competitors. According to the industry distribution chart, Norse Atlantic ASA ranks #936 out of 1010 companies in the Transportation industry, placing it in the top 92.7%.
Is Norse Atlantic ASA's Return-on-Tangible-Asset too high?
Norse Atlantic ASA's current Return-on-Tangible-Asset is -10.45%. Based on the distribution chart, Norse Atlantic ASA ranks #936 out of 1010 companies in the Transportation industry, which is in the bottom quartile relative to peers. Overall, Norse Atlantic ASA has a GF Score™ of 29/100 and is considered Possible Value Trap, reflecting its overall financial health beyond just this single metric.
How does Norse Atlantic ASA's Return-on-Tangible-Asset compare to DAL and UAL?
According to the Transportation industry distribution chart, Norse Atlantic ASA ranks #936 out of 1010 companies for Return-on-Tangible-Asset. This places Norse Atlantic ASA in the lower half of its industry. The industry median Return-on-Tangible-Asset is 3.78. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good Return-on-Tangible-Asset for a Transportation company?
The median Return-on-Tangible-Asset among Transportation companies is 3.78, based on 1,010 companies in the industry. Companies in the top quartile (top 25%) have a Return-on-Tangible-Asset significantly above this median, while those in the bottom quartile fall well below. However, Return-on-Tangible-Asset 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 Return-on-Tangible-Asset mean?
A high Return-on-Tangible-Asset can signal that a stock is expensive relative to its fundamentals. Return on tangible assets is the ratio of current-period net income to average two-period tangible assets. View historical data on Norse Atlantic ASA and its competitors. For the Transportation industry, the median Return-on-Tangible-Asset is 3.78 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norse Atlantic ASA's current Return-on-Tangible-Asset is -10.45%. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norse Atlantic ASA stock overvalued right now?
Based on GuruFocus' analysis, Norse Atlantic ASA (OSL:NORSE) is currently considered Possible Value Trap. The stock's GF Value™ is kr3.32, compared to a current price of kr0.40 — trading 88% below its estimated fair value. The current Return-on-Tangible-Asset is -10.45%. Norse Atlantic ASA's overall GF Score™ is 29/100 with 3 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is Return-on-Tangible-Asset calculated?
Return-on-Tangible-Asset is calculated from a company's financial statements. For Norse Atlantic ASA (OSL:NORSE), the current Return-on-Tangible-Asset is -10.45% 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 Norse Atlantic ASA (OSL:NORSE) Overvalued in 2026?
Based on GuruFocus' analysis, Norse Atlantic ASA stock appears to be undervalued.
The current stock price of kr0.40 is trading 88% below its estimated GF Value™ of kr3.32.
GuruFocus considers Norse Atlantic ASA to be Possible Value Trap.
Key valuation signals for OSL:NORSE:
Return-on-Tangible-Asset: -10.45%
GF Value™: kr3.32 vs. price of kr0.40 (88% below fair value)
No single metric tells the full story. See the OSL:NORSE stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
Norse Atlantic ASA is an airline offering affordable fares on direct, long-haul flights to popular destinations, along with specialized charter and ACMI services for tailored travel needs and extensive cargo operations. It operates a modern fleet of various fuel-efficient Boeing 787 Dreamliners, serving a network of destinations across North America, Europe, Africa, and Asia. Norse also provides charter flights for third parties, particularly during the lower-demand winter season. The company derives the majority of its revenue from passenger airfare income, followed by ancillary passenger income, lease rentals, charter income, and other sources. Geographically, it generates maximum revenue from the United States, and the rest from the United Kingdom, the Rest of Europe, Norway, and India.
29GF Score
Get the complete analysis for OSL:NORSE
Return-on-Tangible-Asset is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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