Sec Norge AS
Score · fiscal year 2023
17of 100
How to read this: the company is ahead of 7 % of companies in the Morning class Medium in the same sector in 2023. What does this mean?
Rank in the Morning class Medium: 435 of 467 · What are Morning company classes?
Place in the whole sector: 2,554 of 2,829 · Forretningsmessig tjenesteyting
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 13 and solidity 9 out of 100 among companies in the Morning class Medium in the same sector in 2023. Methodology
Against the sector
Sec Norge AS is 32 points below the median for companies in the Morning class Medium in the same sector in 2023.
Median score 49 among 467 companies.
Against companies in the Morning class Medium in the same sector in 2023: operating margin −0.7% (median 4.1%) and equity ratio 2.1% (median 23.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 453 MNOK | 102 MNOK |
| Operating margin | −0.7% | 4.1% |
| Profit margin | −0.9% | 4.3% |
| Return on assets | −2.6% | 9.9% |
| Equity ratio | 2.1% | 23.0% |
| Debt-to-equity | 46.71 | 3.18 |
| Current ratio | 1.02 | 1.21 |
| Revenue growth | – | −0.7% |
| Revenue per employee | 0.52 MNOK | 1.81 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 17, Sec Norge AS does better than 7% of companies in the Morning class Medium in the same sector (467 companies) in 2023.
Score 2023–2025
- Sec Norge AS
- Median: companies in the Morning class Medium in the same sector
What the numbers say
Sec Norge AS had an operating margin of −0.7% and an equity ratio of 2.1% in 2023, and ranks 2,554 of 2,829 in Forretningsmessig tjenesteyting.
This text is generated automatically from the 2023 accounts.
Three simple methods
One method gives a figure: 3 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.3 | not meaningful |
| EV/EBIT | 14.1 | not meaningful |
| P/B | 2.7 | 3 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
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 2.1% (median 23.0%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −0.9% (median 4.3%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −0.7% (median 4.1%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.9% of the debt in 2023. The policy rate averaged 3.54 % 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 0.3%. 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 | 13 | weight 30% |
|---|---|---|
| Solidity | 9 | weight 25% |
| Liquidity | 30 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 23 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is Sec Norge AS?
The operating margin was −0.7% in 2023, against a median of 4.1% among companies in the Morning class Medium in the same sector. Return on assets was −2.6%. The company made a loss before tax.
How solid is Sec Norge AS?
The equity ratio was 2.1% in 2023 (median 23.0%). Debt-to-equity was 46.71 (median 3.18).
What is the liquidity of Sec Norge AS like?
The current ratio was 1.02 in 2023 (median 1.21).
How does Sec Norge AS compare in Forretningsmessig tjenesteyting?
Sec Norge AS ranks 2,554 of 2,829 in Forretningsmessig tjenesteyting for 2023. Among companies in the Morning class Medium it is number 435 of 467.
From the Central Coordinating Register
- Org. no.
- 898125882
- Legal form
- AS
- Sector
- Forretningsmessig tjenesteyting (78.200)
- Morning company class
- Medium
- Employees
- 876 registered 10 October 2026
- Founded
- 20 February 2012 14 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Kårevikstølen 47, 5412 STORD
- Municipality
- Stord rank 6–23 of 38 in KOSTRA group 7
- 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
- 5 (one owner holds more than half)
- Largest owner
- 88.0% · top three 98.0%
- Split
- companies 0% · private persons 100% · foreign 95%
- Owners over 60
- 45% of the shares held by persons (median age 51)
- Group chain
- Ultimate owner: private person
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 | 17 | 23 | 36 | |
| Rank | 2,554 | 2,637 | 2,233 | |
| Operating margin | −0.7% | −0.1% | 1.2% | |
| Return on assets | −2.6% | 0.8% | 4.0% | |
| Equity ratio | 2.1% | 2.7% | 4.3% | |
| Current ratio | 1.02 | 1.03 | 1.05 | |
| Revenue growth | – | 1.5% | 71.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 453.2 MNOK | 460.1 MNOK | 790.6 MNOK |
| Operating profit | −3.3 MNOK | −0.3 MNOK | 9.3 MNOK |
| Profit before tax | −4.2 MNOK | 0.4 MNOK | 9.6 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 1.3 MNOK |
| Net profit | −4.2 MNOK | 0.4 MNOK | 8.3 MNOK |
| Financial expenses | 1.1 MNOK | 0.5 MNOK | 0.7 MNOK |
| Total assets | 119.8 MNOK | 109.7 MNOK | 258.1 MNOK |
| Current assets | 119.8 MNOK | 109.7 MNOK | 258.1 MNOK |
| Equity | 2.5 MNOK | 2.9 MNOK | 11.2 MNOK |
| Retained earnings | 2.4 MNOK | 2.8 MNOK | 11.1 MNOK |
| Total liabilities | 117.3 MNOK | 106.8 MNOK | 246.9 MNOK |
| Current liabilities | 117.3 MNOK | 106.8 MNOK | 246.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 5132899.
Further
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