EXPEDITION AS
Score · fiscal year 2025
40of 100
How to read this: the company is ahead of 31 % of small companies in the same sector in 2025. What does this mean?
Rank: 2,892 of 4,158 · Sjømat
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 99 and solidity 0 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
EXPEDITION AS is 10 points below the median for small companies in the same sector in 2025.
Median score 50 among 3,607 companies.
Against small companies in the same sector in 2025: operating margin 91.9% (median 9.9%) and equity ratio −255.3% (median 36.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 0 MNOK | 2 MNOK |
| Operating margin | 91.9% | 9.9% |
| Profit margin | 69.0% | 6.6% |
| Return on assets | 606.4% | 3.1% |
| Equity ratio | −255.3% | 36.4% |
| Debt-to-equity | – | 1.03 |
| Current ratio | 0.17 | 1.66 |
| Revenue growth | – | 13.5% |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 40, EXPEDITION AS does better than 31% of small companies in the same sector (3,639 companies) in 2025.
Score 2023–2025
- EXPEDITION AS
- Median: small companies in the same sector
EXPEDITION AS has a score of 40 for 2025, rank 2,892 of 4,158 in the sector.
Strongest: Profitability: percentile 99 against peers, operating margin 91.9% against a median of 9.9%.
Weakest: Solidity: percentile 0 against peers, equity ratio −255.3% against a median of 36.4%. Liquidity: percentile 12 against peers, current ratio 0.17 against a median of 1.66.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −255.3% (median 36.4%).
- Consider strengthening liquidity: current liabilities are 6.0 times current assets. Based on: current ratio 0.17 (median 1.66).
- What lies behind weak solidity, and will it last?
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
EXPEDITION AS had an operating margin of 91.9% and an equity ratio of −255.3% in 2025, and ranks 2,892 of 4,158 in Sjømat.
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from −290.6% to −255.3%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 2 MNOK |
| EV/EBIT | 8.0 | 3 MNOK |
| P/B | 1.0 | not meaningful |
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
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −255.3% (median 36.4%).
- critical
Consider strengthening liquidity: current liabilities are 6.0 times current assets.
Based on: Current ratio 0.17 (median 1.66).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 42.5% 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.
Data quality
- critical Negative equity
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 −5.0%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 99 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 12 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 16 | weight 15% |
Durability: 28 (average over 3 years)
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is EXPEDITION AS?
The operating margin was 91.9% in 2025, against a median of 9.9% among small companies in the same sector. Return on assets was 606.4%.
How solid is EXPEDITION AS?
The equity ratio was −255.3% in 2025 (median 36.4%). Equity is negative, so liabilities exceed assets.
What is the liquidity of EXPEDITION AS like?
The current ratio was 0.17 in 2025 (median 1.66). Current assets did not cover current liabilities.
How does EXPEDITION AS compare in Sjømat?
EXPEDITION AS ranks 2,892 of 4,158 in Sjømat for 2025. Among companies of the same size (small companies) it ranks 2,497 of 3,639.
From the Central Coordinating Register
- Org. no.
- 883745612
- Legal form
- AS
- Sector
- Sjømat (03.110)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 10 September 2001 25 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Sauøya, 8312 HENNINGSVÆR (VÅGAN)
- Municipality
- Vågan rank 6–16 of 18 in KOSTRA group 2
- Audit
- Audit opted out from 22 October 2011
- 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
- Chief executive
- Per Christian Wahl
- Chair of the board
- Per Christian Wahl
- Deputy member
- Kari Wahl
- Accountant
- AIDER AS
Source: Central Coordinating Register, fetched 29 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 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 38 | 6 | 40 | |
| Rank | 2,568 | 3,898 | 2,892 | |
| Operating margin | 59.5% | – | 91.9% | |
| Return on assets | 127.8% | −32.2% | 606.4% | |
| Equity ratio | −101.0% | −290.6% | −255.3% | |
| Current ratio | 0.32 | 0.02 | 0.17 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 0.8 MNOK | – | 0.5 MNOK |
| Operating profit | 0.5 MNOK | 0.0 MNOK | 0.4 MNOK |
| Profit before tax | −0.6 MNOK | 0.0 MNOK | 0.3 MNOK |
| Net profit | −0.6 MNOK | 0.0 MNOK | 0.2 MNOK |
| Financial expenses | 1.1 MNOK | – | 0.1 MNOK |
| Total assets | 0.4 MNOK | 0.1 MNOK | 0.1 MNOK |
| Current assets | 0.2 MNOK | 0.0 MNOK | 0.0 MNOK |
| Equity | −0.4 MNOK | −0.4 MNOK | −0.2 MNOK |
| Retained earnings | −0.5 MNOK | −0.5 MNOK | −0.3 MNOK |
| Total liabilities | 0.7 MNOK | 0.6 MNOK | 0.2 MNOK |
| Current liabilities | 0.7 MNOK | 0.6 MNOK | 0.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6929310.
Further
Similar companies
- KLOTIND INVEST AS index 40, rank 2,890 · compare
- FJORD MARIN FUNDING AS index 40, rank 2,891 · compare
- SØRHOLMEN AS index 40, rank 2,894 · compare
- NORDMANNSET AS index 40, rank 2,895 · compare
- TROJOH AS index 40, rank 2,896 · compare