Csub AS
Score · fiscal year 2025
64of 100
How to read this: the company is ahead of 75 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 191 of 775 · What are Morning company classes?
Place in the whole sector: 536 of 2,392 · Industri
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 47 and solidity 81 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Csub AS is 13 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 51 among 775 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 1.0% (median 4.6%) and equity ratio 60.0% (median 37.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 366 MNOK | 164 MNOK |
| Operating margin | 1.0% | 4.6% |
| Profit margin | 8.0% | 4.4% |
| Return on assets | 15.3% | 9.6% |
| Equity ratio | 60.0% | 37.9% |
| Debt-to-equity | 0.67 | 1.56 |
| Current ratio | 1.85 | 1.51 |
| Revenue growth | 16.2% | 6.9% |
| Revenue per employee | 4.63 MNOK | 2.67 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 64, Csub AS does better than 75% of companies in the Morning class Medium in the same sector (775 companies) in 2025.
Score 2023–2025
- Csub AS
- Median: companies in the Morning class Medium in the same sector
Csub AS has a score of 64 for 2025, rank 536 of 2,392 in the sector.
Strongest: Solidity: percentile 81 against peers, equity ratio 60.0% against a median of 37.9%. Growth: percentile 71 against peers, revenue growth 16.2% against a median of 6.9%.
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
Csub AS had an operating margin of 1.0% and an equity ratio of 60.0% in 2025, and ranks 536 of 2,392 in Industri.
From 2024 to 2025: the operating margin rose from −3.3% to 1.0% and revenue grew by 16%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 51 MNOK and 280 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 280 MNOK |
| EV/EBIT | 8.0 | 51 MNOK |
| P/B | 1.0 | 122 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 2.2% 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 −0.8%. 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 | 47 | weight 30% |
|---|---|---|
| Solidity | 81 | weight 25% |
| Liquidity | 67 | weight 15% |
| Growth | 71 | weight 15% |
| Consistency | 62 | weight 15% |
Durability: 61 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Csub AS?
The operating margin was 1.0% in 2025, against a median of 4.6% among companies in the Morning class Medium in the same sector. Return on assets was 15.3%.
How solid is Csub AS?
The equity ratio was 60.0% in 2025 (median 37.9%). Debt-to-equity was 0.67 (median 1.56).
What is the liquidity of Csub AS like?
The current ratio was 1.85 in 2025 (median 1.51).
How does Csub AS compare in Industri?
Csub AS ranks 536 of 2,392 in Industri for 2025. Among companies in the Morning class Medium it is number 191 of 775. Revenue changed by 16.2% from the year before.
Group accounts · 2025
51 of 100
Rank 19 of 41 groups in the Morning class Medium in Industri. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 330 MNOK
- Operating profit, group
- 21 MNOK
- Profit before tax, group
- 20 MNOK
- Total assets, group
- 268 MNOK
- Equity, group
- 121 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 6.3% | 1.0% |
| Return on assets | 8.3% | 15.3% |
| Equity ratio | 45.3% | 60.0% |
| Current ratio | 1.53 | 1.85 |
| Revenue growth | 7.4% | 16.2% |
Group index in earlier years: 2023: 69 (12 of 52), 2024: 59 (17 of 45).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 885590292
- Legal form
- AS
- Sector
- Industri (22.210)
- Morning company class
- Medium
- Employees
- 79 registered 10 October 2026
- Founded
- 18 March 2003 23 years in operation
- Share capital
- 7.04 MNOK
- Business address
- Skytebanen 14, 4841 ARENDAL
- Municipality
- Arendal rank 5–10 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- LEI
- 549300NV1VFCH6ZG1R81 renews 16 November 2026
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.
- Parent company
- No parent company: owned by persons
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
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 | 67 | 51 | 64 | |
| Rank | 562 | 1,187 | 536 | |
| Operating margin | 3.9% | −3.3% | 1.0% | |
| Return on assets | 30.9% | 8.3% | 15.3% | |
| Equity ratio | 56.4% | 58.3% | 60.0% | |
| Current ratio | 1.59 | 1.63 | 1.85 | |
| Revenue growth | – | −4.1% | 16.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 328.6 MNOK | 315.1 MNOK | 366.1 MNOK |
| Operating profit | 12.7 MNOK | −10.5 MNOK | 3.7 MNOK |
| Profit before tax | 12.1 MNOK | 8.2 MNOK | 29.4 MNOK |
| Net profit | 9.4 MNOK | 10.5 MNOK | 28.0 MNOK |
| Financial expenses | 33.8 MNOK | 5.2 MNOK | 1.8 MNOK |
| Total assets | 148.6 MNOK | 161.6 MNOK | 203.6 MNOK |
| Current assets | 84.2 MNOK | 94.4 MNOK | 137.5 MNOK |
| Equity | 83.7 MNOK | 94.2 MNOK | 122.2 MNOK |
| Retained earnings | 43.4 MNOK | 53.9 MNOK | 81.9 MNOK |
| Total liabilities | 64.8 MNOK | 67.4 MNOK | 81.3 MNOK |
| Current liabilities | 53.0 MNOK | 58.0 MNOK | 74.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7215248.
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