Volvo Norge AS
Score · fiscal year 2025
45of 100
How to read this: the company is ahead of 38 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 47 of 75 · What are Morning company classes?
Place in the whole sector: 1,573 of 2,650 · Annen tjenesteyting
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 66 and solidity 16 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Volvo Norge AS is 5 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 50 among 75 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 4.7% (median 2.3%) and equity ratio 13.3% (median 22.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2,572 MNOK | 902 MNOK |
| Operating margin | 4.7% | 2.3% |
| Profit margin | 4.5% | 2.0% |
| Return on assets | 7.9% | 7.9% |
| Equity ratio | 13.3% | 22.0% |
| Debt-to-equity | 6.51 | 3.22 |
| Current ratio | 1.50 | 1.19 |
| Revenue growth | −5.0% | 14.2% |
| Revenue per employee | 7.25 MNOK | 7.98 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 45, Volvo Norge AS does better than 38% of companies in the Morning class Large in the same sector (75 companies) in 2025.
Score 2023–2025
- Volvo Norge AS
- Median: companies in the Morning class Large in the same sector
Volvo Norge AS has a score of 45 for 2025, rank 1,573 of 2,650 in the sector.
Strongest: Liquidity: percentile 80 against peers, current ratio 1.50 against a median of 1.19. Profitability: percentile 66 against peers, operating margin 4.7% against a median of 2.3%.
Weakest: Growth: percentile 8 against peers, revenue growth −5.0% against a median of 14.2%. Solidity: percentile 16 against peers, equity ratio 13.3% against a median of 22.0%.
Worth a closer look
- What lies behind weak growth, and will it last?
- 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
Volvo Norge AS had an operating margin of 4.7% and an equity ratio of 13.3% in 2025, and ranks 1,573 of 2,650 in Annen tjenesteyting.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 314 MNOK and 1,264 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 19.2 | 1,264 MNOK |
| EV/EBIT | 15.1 | 574 MNOK |
| P/B | 2.4 | 314 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 39% for an unlisted company: 20% for lack of marketability and 24% for size (a small-company premium of 2% 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 0.9% 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 −0.2%. 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 | 66 | weight 30% |
|---|---|---|
| Solidity | 16 | weight 25% |
| Liquidity | 80 | weight 15% |
| Growth | 8 | weight 15% |
| Consistency | 56 | weight 15% |
Durability: 51 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Volvo Norge AS?
The operating margin was 4.7% in 2025, against a median of 2.3% among companies in the Morning class Large in the same sector. Return on assets was 7.9%.
How solid is Volvo Norge AS?
The equity ratio was 13.3% in 2025 (median 22.0%). Debt-to-equity was 6.51 (median 3.22).
What is the liquidity of Volvo Norge AS like?
The current ratio was 1.50 in 2025 (median 1.19).
How does Volvo Norge AS compare in Annen tjenesteyting?
Volvo Norge AS ranks 1,573 of 2,650 in Annen tjenesteyting for 2025. Among companies in the Morning class Large it is number 47 of 75. Revenue changed by −5.0% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
Public contracts
- Contracts awarded since 2024
- 11
- in 8 notices (lots counted separately)
- Total awarded value since 2024
- 13.7 MNOK
- 7 contracts without a stated value are not in the total.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 28 September 2026 | Gjøvik Kommune | EA-26-019-GK-Lastebil | 3.1 MNOK |
| 1 September 2026 | Nord-gudbrandsdal Renovasjonsselskap Iks | Komprimatorbil med kran | 0.0 MNOK |
| 5 June 2026 | Valdres Kommunale Renovasjon IKS | Kjøp av renovasjonsbil og krokbil VKR | 8.7 MNOK (2 lots) |
| 27 January 2025 | Enebakk Kommune | Nyinnkjøp av lastebil til veistasjonen i Enebakk kommune | value not stated |
| 16 January 2025 | Den Norske Opera & Ballett AS | Anskaffelse av Elektrisk Lastebil | value not stated |
| 2 December 2024 | Lillestrøm Kommune | Anskaffelse av tre stk lastebiler | value not stated (3 lots) |
| 17 June 2024 | Gran Kommune | Resultat av konkurranse - Kjøp av lastebil - samferdsel - Gran kommune | 2.0 MNOK |
| 23 February 2024 | Norsk Helsenett SF | 5 stk. ambulansebusser "Prosjekt Amity" | value not stated |
| 22 September 2023 | Justervesenet | Lastebil | 1.7 MNOK |
| 14 September 2023 | Valdres Kommunale Renovasjon Iks | Krokbil og 3 renovasjonskjøretøy med komprimator | 16.0 MNOK |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 910712799
- Legal form
- AS · part of a group
- Sector
- Annen tjenesteyting (95.310)
- Morning company class
- Large
- Employees
- 355 registered 10 October 2026
- Founded
- 21 April 1956 70 years in operation
- Share capital
- 41.45 MNOK
- Business address
- Strømsveien 316, 1081 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- 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
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 100%
- Group chain
- Ultimate owner: AB VOLVO
- AB VOLVO (Sweden) · 100.0%
Change 2007–2025: no material change in the owners.
Majority owner of: Volvo Finans Norge AS (100%)
Holds shares in: Volvo Finans Norge AS (100%), Oppland Tungbilservice AS (50%)
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 | 50 | 57 | 45 | |
| Rank | 1,221 | 948 | 1,573 | |
| Operating margin | 3.7% | 5.3% | 4.7% | |
| Return on assets | 9.6% | 8.3% | 7.9% | |
| Equity ratio | 12.5% | 12.5% | 13.3% | |
| Current ratio | 1.43 | 1.59 | 1.50 | |
| Revenue growth | – | 15.2% | −5.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2,349.1 MNOK | 2,707.1 MNOK | 2,572.1 MNOK |
| Operating profit | 86.0 MNOK | 143.1 MNOK | 122.0 MNOK |
| Profit before tax | 153.2 MNOK | 128.5 MNOK | 115.7 MNOK |
| Tax expense | 16.6 MNOK | 28.6 MNOK | 25.7 MNOK |
| Net profit | 135.6 MNOK | 98.4 MNOK | 90.0 MNOK |
| Financial expenses | 14.1 MNOK | 15.7 MNOK | 12.6 MNOK |
| Total assets | 1,736.6 MNOK | 1,728.1 MNOK | 1,614.3 MNOK |
| Current assets | 928.4 MNOK | 953.0 MNOK | 861.5 MNOK |
| Equity | 216.8 MNOK | 215.9 MNOK | 215.0 MNOK |
| Retained earnings | 172.3 MNOK | 171.5 MNOK | 170.5 MNOK |
| Total liabilities | 1,519.9 MNOK | 1,512.2 MNOK | 1,399.3 MNOK |
| Current liabilities | 650.8 MNOK | 599.7 MNOK | 573.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6982016.
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