Harding Group AS
Score · fiscal year 2025
65of 100
How to read this: the company is ahead of 78 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 183 of 818 · What are Morning company classes?
Place in the whole sector: 546 of 2,407 · Overnatting og servering
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 46 and solidity 85 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Harding Group AS is 15 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 818 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 5.6% (median 4.8%) and equity ratio 54.9% (median 19.7%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 38 MNOK | 19 MNOK |
| Operating margin | 5.6% | 4.8% |
| Profit margin | 4.4% | 4.5% |
| Return on assets | 7.3% | 13.5% |
| Equity ratio | 54.9% | 19.7% |
| Debt-to-equity | 0.82 | 2.93 |
| Current ratio | 2.54 | 1.02 |
| Revenue growth | 3.5% | 5.4% |
| Revenue per employee | 0.93 MNOK | 0.66 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 65, Harding Group AS does better than 78% of companies in the Morning class Small in the same sector (818 companies) in 2025.
Score 2023–2025
- Harding Group AS
- Median: companies in the Morning class Small in the same sector
Harding Group AS has a score of 65 for 2025, rank 546 of 2,407 in the sector.
Strongest: Liquidity: percentile 92 against peers, current ratio 2.54 against a median of 1.02. Solidity: percentile 85 against peers, equity ratio 54.9% against a median of 19.7%.
No area is clearly below its peers.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
What the numbers say
Harding Group AS had an operating margin of 5.6% and an equity ratio of 54.9% in 2025, and ranks 546 of 2,407 in Overnatting og servering.
From 2024 to 2025: the operating margin fell from 25.2% to 5.6% and the equity ratio rose from 48.8% to 54.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 13 MNOK and 18 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 13 MNOK |
| EV/EBIT | 8.0 | 13 MNOK |
| P/B | 1.0 | 18 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.0% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
See interest rates, prices and exchange rates for the sector
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.3%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 46 | weight 30% |
|---|---|---|
| Solidity | 85 | weight 25% |
| Liquidity | 92 | weight 15% |
| Growth | 43 | weight 15% |
| Consistency | 64 | weight 15% |
Durability: 77 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Harding Group AS?
The operating margin was 5.6% in 2025, against a median of 4.8% among companies in the Morning class Small in the same sector. Return on assets was 7.3%.
How solid is Harding Group AS?
The equity ratio was 54.9% in 2025 (median 19.7%). Debt-to-equity was 0.82 (median 2.93).
What is the liquidity of Harding Group AS like?
The current ratio was 2.54 in 2025 (median 1.02).
How does Harding Group AS compare in Overnatting og servering?
Harding Group AS ranks 546 of 2,407 in Overnatting og servering for 2025. Among companies in the Morning class Small it is number 183 of 818. Revenue changed by 3.5% from the year before.
From the Central Coordinating Register
- Org. no.
- 818149352
- Legal form
- AS
- Sector
- Overnatting og servering (55.100)
- Morning company class
- Small
- Employees
- 41 registered 10 October 2026
- Founded
- 28 November 2016 9 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Gamle Oddaveg 3, 5770 TYSSEDAL (ULLENSVANG)
- Municipality
- Ullensvang rank 3–12 of 13 in KOSTRA group 8
- Latest accounts filed
- 2025
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Figures last fetched 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 82 | 85 | 65 | |
| Rank | 170 | 39 | 546 | |
| Operating margin | 24.2% | 25.2% | 5.6% | |
| Return on assets | 26.8% | 28.8% | 7.3% | |
| Equity ratio | 38.6% | 48.8% | 54.9% | |
| Current ratio | 2.45 | 2.09 | 2.54 | |
| Revenue growth | – | 40.8% | 3.5% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 26.2 MNOK | 36.9 MNOK | 38.2 MNOK |
| Operating profit | 6.3 MNOK | 9.3 MNOK | 2.1 MNOK |
| Profit before tax | 6.3 MNOK | 8.8 MNOK | 1.7 MNOK |
| Net profit | 4.9 MNOK | 6.8 MNOK | 1.3 MNOK |
| Financial expenses | 0.3 MNOK | 0.8 MNOK | 0.7 MNOK |
| Total assets | 24.3 MNOK | 33.2 MNOK | 33.3 MNOK |
| Current assets | 7.9 MNOK | 12.4 MNOK | 11.6 MNOK |
| Equity | 9.4 MNOK | 16.2 MNOK | 18.3 MNOK |
| Retained earnings | 9.4 MNOK | 16.2 MNOK | 18.3 MNOK |
| Total liabilities | 14.9 MNOK | 17.0 MNOK | 15.0 MNOK |
| Current liabilities | 3.2 MNOK | 5.9 MNOK | 4.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7153063.
Further
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