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.
Norcod ASFRA:NO9 -2.37%56 3-Year RORE % is -31.47 as of Mar. 2026. GuruFocus rates FRA:NO9 with a GF Score™ of 56/100 and a GF Value™ of €0.57 (Significantly Overvalued). The stock has 7 warning signs investors should review. Among 1,829 Consumer Packaged Goods companies, Norcod AS ranks worse than 74.74% on this metric.
Return on Retained Earnings (RORE) is an indicator of a company's growth potential, it shows how much a company earns by reinvesting its retained earnings, i.e. profits after dividend payments.
Norcod AS's 3-Year RORE % for the quarter that ended in Mar. 2026 was -31.47%.
The industry rank for Norcod AS's 3-Year RORE % or its related term are showing as below:
FRA:NO9's 3-Year RORE % is ranked worse than 74.74% of 1829
companies
in the Consumer Packaged Goods industry
Industry Median: 6.02
vs FRA:NO9: -31.47
Norcod AS (FRA:NO9) 3-Year RORE % Explanation
Return on Retained Earnings (RORE) is important to investors because it reveals a company's efficiency and growth potential. A higher RORE indicates a higher return. A high RORE indicates that the company should reinvest profits into the business. A lower RORE suggests that the company should distribute profits to shareholders by paying out dividends, since those dollars aren't generating much additional growth for the company.
There are a several different ways to arrive at the Return on Retained Earnings. The simplest way to calculate it is by using published information on Earnings per Share (EPS) and Dividend per Share (DPS) over a selected period. Here, 3-year period is chosen.
Be Aware
Please keep in mind that the RORE is relative to the nature of the business and its competitors. If another company in the same sector is producing a lower return on retained earnings, it doesn’t necessarily mean it’s a bad investment. It may just suggest the company is older and no longer in a high growth stage. At such a stage in the business cycle, it would be expected to see a lower RORE and higher dividend payout.
Norcod AS 3-Year RORE % Related Terms
Norcod AS 3-Year RORE % Historical Data
* Premium members only.
The historical data trend for Norcod AS's 3-Year RORE % 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.
For the Farm Products subindustry, Norcod AS's 3-Year RORE %, along with its competitors' market caps and 3-Year RORE % 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.
Norcod AS 3-Year RORE % vs Consumer Packaged Goods Industry
For the Consumer Packaged Goods industry and Consumer Defensive sector, Norcod AS's 3-Year RORE % distribution charts can be found below:
* The bar in red indicates where Norcod AS's 3-Year RORE % 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 3-Year RORE %, the most recent and first period EPS (Diluted) is the trailing twelve months (TTM) data ended in Mar. 2026 and 3-year before.
Norcod AS (FRA:NO9) has a 3-Year RORE % of -31.47 as of Mar. 2026. 3-Year RORE % shows how much a company earns by reinvesting its retained earnings in 3-year. View historical data on Norcod AS and its competitors. According to the industry distribution chart, Norcod AS ranks #1367 out of 1829 companies in the Consumer Packaged Goods industry, placing it in the top 74.7%.
Is Norcod AS's 3-Year RORE % too high?
Norcod AS's current 3-Year RORE % is -31.47. Based on the distribution chart, Norcod AS ranks #1367 out of 1829 companies in the Consumer Packaged Goods industry, which is below the industry midpoint. Overall, Norcod AS has a GF Score™ of 56/100 and is considered Significantly Overvalued, reflecting its overall financial health beyond just this single metric.
How does Norcod AS's 3-Year RORE % compare to ADM and BG?
According to the Consumer Packaged Goods industry distribution chart, Norcod AS ranks #1367 out of 1829 companies for 3-Year RORE %. This places Norcod AS in the lower half of its industry. The industry median 3-Year RORE % is 6.02. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good 3-Year RORE % for a Consumer Packaged Goods company?
The median 3-Year RORE % among Consumer Packaged Goods companies is 6.02, based on 1,829 companies in the industry. Companies in the top quartile (top 25%) have a 3-Year RORE % significantly above this median, while those in the bottom quartile fall well below. However, 3-Year RORE % 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 3-Year RORE % mean?
A high 3-Year RORE % can signal that a stock is expensive relative to its fundamentals. 3-Year RORE % shows how much a company earns by reinvesting its retained earnings in 3-year. View historical data on Norcod AS and its competitors. For the Consumer Packaged Goods industry, the median 3-Year RORE % is 6.02 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Norcod AS's current 3-Year RORE % is -31.47. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Norcod AS stock overvalued right now?
Based on GuruFocus' analysis, Norcod AS (FRA:NO9) is currently considered Significantly Overvalued. The stock's GF Value™ is €0.57, compared to a current price of €0.91 — trading 58.9% above its estimated fair value. The current 3-Year RORE % is -31.47. Norcod AS's overall GF Score™ is 56/100 with 7 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is 3-Year RORE % calculated?
3-Year RORE % is calculated from a company's financial statements. For Norcod AS (FRA:NO9), the current 3-Year RORE % is -31.47 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 Norcod AS (FRA:NO9) Overvalued in 2026?
Based on GuruFocus' analysis, Norcod AS stock appears to be overvalued.
The current stock price of €0.91 is trading 58.9% above its estimated GF Value™ of €0.57.
GuruFocus considers Norcod AS to be Significantly Overvalued.
Key valuation signals for FRA:NO9:
3-Year RORE %: -31.47
GF Value™: €0.57 vs. price of €0.91 (58.9% above fair value)
No single metric tells the full story. See the FRA:NO9 stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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.
56GF Score
Get the complete analysis for FRA:NO9
3-Year RORE % is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
Quick Browse
Personalize
Premium Gurus 
Create New Portfolio
FRA:NO9 has been successfully added to your 
