MODUL-SYSTEM AS
Score · fiscal year 2024
81of 100
How to read this: the company is ahead of 97 % of medium-sized companies in the same sector in 2024. What does this mean?
Rank: 1,179 of 37,174 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 81 and solidity 78 out of 100 among medium-sized companies in the same sector in 2024. Methodology
Against the sector
MODUL-SYSTEM AS is 31 points above the median for medium-sized companies in the same sector in 2024.
Median score 50 among 2,059 companies.
Against medium-sized companies in the same sector in 2024: operating margin 6.4% (median 3.2%) and equity ratio 56.5% (median 32.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 110 MNOK | 171 MNOK |
| Operating margin | 6.4% | 3.2% |
| Profit margin | 3.9% | 3.1% |
| Return on assets | 25.6% | 11.1% |
| Equity ratio | 56.5% | 32.6% |
| Debt-to-equity | 0.77 | 2.01 |
| Current ratio | 2.19 | 1.38 |
| Revenue growth | 37.6% | 5.2% |
| Revenue per employee | 5.79 MNOK | 6.29 MNOK |
The median and “ahead of” refer to medium-sized companies in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 81, MODUL-SYSTEM AS does better than 97% of medium-sized companies in the same sector (2,059 companies) in 2024.
Score 2023–2025
- MODUL-SYSTEM AS
- Median: medium-sized companies in the same sector
What the numbers say
MODUL-SYSTEM AS had an operating margin of 6.4% and an equity ratio of 56.5% in 2024, and ranks 1,179 of 37,174 in Handel.
From 2023 to 2024: revenue grew by 38% and the equity ratio rose from 45.1% to 56.5%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 16 MNOK and 63 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 34 MNOK |
| EV/EBIT | 8.0 | 63 MNOK |
| P/B | 1.0 | 16 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 6.4% (median 3.2%); Equity ratio 56.5% (median 32.6%); Current ratio 2.19 (median 1.38).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 24.7% of the debt in 2024. The policy rate averaged 4.50 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 81 | weight 30% |
|---|---|---|
| Solidity | 78 | weight 25% |
| Liquidity | 79 | weight 15% |
| Growth | 90 | weight 15% |
| Consistency | 81 | weight 15% |
Durability: 73 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MODUL-SYSTEM AS?
The operating margin was 6.4% in 2024, against a median of 3.2% among medium-sized companies in the same sector. Return on assets was 25.6%.
How solid is MODUL-SYSTEM AS?
The equity ratio was 56.5% in 2024 (median 32.6%). Debt-to-equity was 0.77 (median 2.01).
What is the liquidity of MODUL-SYSTEM AS like?
The current ratio was 2.19 in 2024 (median 1.38).
How does MODUL-SYSTEM AS compare in Handel?
MODUL-SYSTEM AS ranks 1,179 of 37,174 in Handel for 2024. Among companies of the same size (medium-sized companies) it ranks 67 of 2,059. Revenue changed by 37.6% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 22 December 2025 | LNETT AS | Innredning og påbygging til nyttekjøretøy | 8.2 MNOK (framework) |
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 27 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.
- 911743787
- Legal form
- AS
- Sector
- Handel (46.720)
- Size tier
- medium
- Employees
- 19 registered 10 October 2026
- Founded
- 14 March 2013 13 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Teglverksveien 11A, 3413 LIER
- Municipality
- Lier rank 7 of 27 in KOSTRA group 9
- 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
- Karl Henrik Erkki Persson
- Chair of the board
- Uno Richard David Mickelson
- Board member
- Stefan Lennart Lundgren
- Auditor
- ERNST & YOUNG AS
- Accountant
- ECIT SERVICES 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 | 65 | 81 | 62 | |
| Rank | 8,693 | 1,179 | 9,868 | |
| Operating margin | 7.0% | 6.4% | 6.3% | |
| Return on assets | 19.8% | 25.6% | 22.4% | |
| Equity ratio | 45.1% | 56.5% | 58.0% | |
| Current ratio | 2.37 | 2.19 | 2.31 | |
| Revenue growth | – | 37.6% | −21.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 79.9 MNOK | 110.0 MNOK | 86.7 MNOK |
| Operating profit | 5.6 MNOK | 7.1 MNOK | 5.5 MNOK |
| Profit before tax | 3.4 MNOK | 4.3 MNOK | 3.2 MNOK |
| Net profit | 2.7 MNOK | 3.4 MNOK | 2.4 MNOK |
| Financial expenses | 2.2 MNOK | 3.1 MNOK | 2.8 MNOK |
| Total assets | 28.4 MNOK | 28.6 MNOK | 26.8 MNOK |
| Current assets | 26.8 MNOK | 27.2 MNOK | 26.0 MNOK |
| Equity | 12.8 MNOK | 16.1 MNOK | 15.5 MNOK |
| Retained earnings | 12.7 MNOK | 16.0 MNOK | 15.4 MNOK |
| Total liabilities | 15.6 MNOK | 12.4 MNOK | 11.3 MNOK |
| Current liabilities | 11.3 MNOK | 12.4 MNOK | 11.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6124025.
Further
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