Norsub AS
Score · fiscal year 2025
75of 100
How to read this: the company is ahead of 91 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 176 of 1,989 · What are Morning company classes?
Place in the whole sector: 294 of 3,920 · Teknisk tjenesteyting og forskning
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 98 and solidity 55 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Norsub AS is 25 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 1,988 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 83.2% (median 5.1%) and equity ratio 49.7% (median 41.7%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 3 MNOK |
| Operating margin | 83.2% | 5.1% |
| Profit margin | 83.1% | 4.9% |
| Return on assets | 77.9% | 10.2% |
| Equity ratio | 49.7% | 41.7% |
| Debt-to-equity | 1.01 | 1.10 |
| Current ratio | 2.69 | 1.68 |
| Revenue growth | 64.7% | 5.2% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 75, Norsub AS does better than 91% of companies in the Morning class Micro in the same sector (1,989 companies) in 2025.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Norsub AS has a score of 75 for 2025, rank 294 of 3,920 in the sector.
Strongest: Profitability: percentile 98 against peers, operating margin 83.2% against a median of 5.1%. Growth: percentile 88 against peers, revenue growth 64.7% against a median of 5.2%.
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
Norsub AS had an operating margin of 83.2% and an equity ratio of 49.7% in 2025, and ranks 294 of 3,920 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin rose from −32.6% to 83.2% and the equity ratio rose from −45.1% to 49.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 3 MNOK |
| EV/EBIT | 15.9 | 3 MNOK |
| P/B | 3.2 | 1 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. 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 0.1% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of −0.2%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 98 | weight 30% |
|---|---|---|
| Solidity | 55 | weight 25% |
| Liquidity | 72 | weight 15% |
| Growth | 88 | weight 15% |
| Consistency | 52 | weight 15% |
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Norsub AS?
The operating margin was 83.2% in 2025, against a median of 5.1% among companies in the Morning class Micro in the same sector. Return on assets was 77.9%.
How solid is Norsub AS?
The equity ratio was 49.7% in 2025 (median 41.7%). Debt-to-equity was 1.01 (median 1.10).
What is the liquidity of Norsub AS like?
The current ratio was 2.69 in 2025 (median 1.68).
How does Norsub AS compare in Teknisk tjenesteyting og forskning?
Norsub AS ranks 294 of 3,920 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 176 of 1,989. Revenue changed by 64.7% from the year before.
From the Central Coordinating Register
- Org. no.
- 827879622
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 14 September 2021 5 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Oldernesveien 17, 5163 LAKSEVÅG (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 6 October 2021
- 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.
Shareholders (2025)
- Number of shareholders
- 2
- Largest owner
- 50.0%
- Split
- companies 50% · private persons 50% · foreign 0%
- Owned from the same municipality
- 0%
- Econon Holding AS · 50.0%
- 1 private persons · 50.0%
The company is new in the shareholder register in 2025.
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
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 | – | – | 75 | |
| Rank | – | – | 294 | |
| Operating margin | 13.9% | −32.6% | 83.2% | |
| Return on assets | 7.0% | −57.1% | 77.9% | |
| Equity ratio | 4.7% | −45.1% | 49.7% | |
| Current ratio | 1.19 | 0.24 | 2.69 | |
| Revenue growth | – | 54.6% | 64.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.6 MNOK | 1.0 MNOK | 1.6 MNOK |
| Operating profit | 0.1 MNOK | −0.3 MNOK | 1.4 MNOK |
| Profit before tax | 0.1 MNOK | −0.3 MNOK | 1.4 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.2 MNOK |
| Net profit | 0.1 MNOK | −0.3 MNOK | 1.1 MNOK |
| Financial expenses | – | – | 0.0 MNOK |
| Total assets | 1.3 MNOK | 0.6 MNOK | 1.7 MNOK |
| Current assets | 0.6 MNOK | 0.0 MNOK | 1.3 MNOK |
| Equity | 0.1 MNOK | −0.3 MNOK | 0.9 MNOK |
| Retained earnings | 0.0 MNOK | −0.3 MNOK | 0.8 MNOK |
| Total liabilities | 1.2 MNOK | 0.8 MNOK | 0.9 MNOK |
| Current liabilities | 0.5 MNOK | 0.0 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6711850.
Further
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