NLLSY (NEL ASA) ROE % Adjusted to Book Value: -14.83% (As of Mar. 2026)

NEL ASA NLLSY 79 ROE % Adjusted to Book Value is -14.83% as of Mar. 2026. GuruFocus rates NLLSY with a GF Score™ of 79/100 and a GF Value™ of $8.22 (Fairly Valued). The stock has 5 warning signs investors should review.

NEL ASA's ROE % for the quarter that ended in Mar. 2026 was -15.27%. NEL ASA's PB Ratio for the quarter that ended in Mar. 2026 was 1.03. NEL ASA's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 was -14.83%.

NEL ASA ROE % Adjusted to Book Value Related Terms

NEL ASA ROE % Adjusted to Book Value Historical Data

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The historical data trend for NEL ASA's ROE % Adjusted to Book 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.

NEL ASA ROE % Adjusted to Book Value Chart

NEL ASA Annual Data

Trend

Dec16

Dec17

Dec18

Dec19

Dec20

Dec21

Dec22

Dec23

Dec24

Dec25

ROE % Adjusted to Book Value

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-6.79

-5.54

-7.37

-4.96

-28.09

NEL ASA Quarterly Data
	Jun21	Sep21	Dec21	Mar22	Jun22	Sep22	Dec22	Mar23	Jun23	Sep23	Dec23	Mar24	Jun24	Sep24	Dec24	Mar25	Jun25	Sep25	Dec25	Mar26
ROE % Adjusted to Book Value	Get a 7-Day Free Trial															-15.59	-11.91	-8.00	-73.91	-14.83

NLLSY vs GEV, ETN, PH: ROE % Adjusted to Book Value Comparison

For the Specialty Industrial Machinery subindustry, NEL ASA's ROE % Adjusted to Book Value, along with its competitors' market caps and ROE % Adjusted to Book 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.

NEL ASA ROE % Adjusted to Book Value vs Industrial Products Industry

For the Industrial Products industry and Industrials sector, NEL ASA's ROE % Adjusted to Book Value distribution charts can be found below:

* The bar in red indicates where NEL ASA's ROE % Adjusted to Book Value falls into.

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79GF Score

NEL ASA NLLSY

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NEL ASA ROE % Adjusted to Book Value Calculation

NEL ASA's ROE % Adjusted to Book Value for the fiscal year that ended in Dec. 2025 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	-30.06%	/	1.07
	=	-28.09%

NEL ASA's ROE % Adjusted to Book Value for the quarter that ended in Mar. 2026 is calculated as

ROE % Adjusted to Book Value	=	ROE %	/	PB Ratio
	=	-15.27%	/	1.03
	=	-14.83%

Frequently Asked Questions Learn more about ROE % Adjusted to Book Value →

What does a ROE % Adjusted to Book Value of -14.83% mean?

NEL ASA (NLLSY) has a ROE % Adjusted to Book Value of -14.83% as of Mar. 2026. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on NEL ASA and its competitors.

Is NEL ASA's ROE % Adjusted to Book Value too high?

NEL ASA's current ROE % Adjusted to Book Value is -14.83%. Overall, NEL ASA has a GF Score™ of 79/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.

How does NEL ASA's ROE % Adjusted to Book Value compare to GEV and ETN?

NEL ASA's ROE % Adjusted to Book Value of -14.83% 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 ROE % Adjusted to Book Value for an Industrial Products company?

A good ROE % Adjusted to Book Value depends on the Industrial Products industry context. However, ROE % Adjusted to Book 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 ROE % Adjusted to Book Value mean?

A high ROE % Adjusted to Book Value can signal that a stock is expensive relative to its fundamentals. Return on equity adjusted to book is the ratio of return on equity to price-book ratio. View historical data on NEL ASA and its competitors. NEL ASA's current ROE % Adjusted to Book Value is -14.83%. 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 (NLLSY) is currently considered Fairly Valued. The stock's GF Value™ is $8.22, compared to a current price of $7.76 — trading 5.6% below its estimated fair value. The current ROE % Adjusted to Book Value is -14.83%. NEL ASA's overall GF Score™ is 79/100 with 5 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.

How is ROE % Adjusted to Book Value calculated?

ROE % Adjusted to Book Value is calculated from a company's financial statements. For NEL ASA (NLLSY), the current ROE % Adjusted to Book Value is -14.83% 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 NEL ASA (NLLSY) Overvalued in 2026?

Based on GuruFocus' analysis, NEL ASA stock appears to be undervalued. The current stock price of $7.76 is trading 5.6% below its estimated GF Value™ of $8.22. GuruFocus considers NEL ASA to be Fairly Valued.

Key valuation signals for NLLSY:

ROE % Adjusted to Book Value: -14.83%
GF Value™: $8.22 vs. price of $7.76 (5.6% below fair value)
GF Score™: 79/100 with 5 warning signs

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

NEL ASA Business Description

Industry Industrials Industrial Products

Comparable Companies OSL:IWS OSL:NKR OSL:SCANA OSL:HYPRO GEV XTER:SIE XPAR:SU XTER:ENR ETN PH OSTO:ATCO A CMI EMR TSE:7011 ITW AME OSTO:SAND ROK TSE:6954 XKRX:034020

Other Exchanges NLLSF:USA NELo:Sweden NEL:Norway NELo:UK 0E4Q:UK D7G:Germany D7G:Bulgaria

Address Karenslyst alle 49, Oslo, NOR, N-0279

Website https://www.nelhydrogen.com

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.

79GF Score

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$7.76

Price

$8.22

GF Value

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