Aagaard Management AS
Score · fiscal year 2025
63of 100
How to read this: the company is ahead of 75 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 2,877 of 11,281 · What are Morning company classes?
Place in the whole sector: 5,892 of 22,940 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 77 and solidity 60 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Aagaard Management AS is 13 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 11,278 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 10.9% (median 2.6%) and equity ratio 50.1% (median 33.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 4 MNOK |
| Operating margin | 10.9% | 2.6% |
| Profit margin | 34.0% | 2.1% |
| Return on assets | 19.3% | 6.2% |
| Equity ratio | 50.1% | 33.5% |
| Debt-to-equity | 0.99 | 1.25 |
| Current ratio | 1.62 | 1.74 |
| Revenue growth | 7.7% | 4.0% |
| Revenue per employee | 1.21 MNOK | 0.76 MNOK |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 63, Aagaard Management AS does better than 75% of companies in the Morning class Micro in the same sector (11,281 companies) in 2025.
Score 2023–2025
- Aagaard Management AS
- Median: companies in the Morning class Micro in the same sector
Aagaard Management AS has a score of 63 for 2025, rank 5,892 of 22,940 in the sector.
Strongest: Profitability: percentile 77 against peers, operating margin 10.9% against a median of 2.6%. Solidity: percentile 60 against peers, equity ratio 50.1% against a median of 33.5%.
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
Aagaard Management AS had an operating margin of 10.9% and an equity ratio of 50.1% in 2025, and ranks 5,892 of 22,940 in Handel.
From 2024 to 2025: the operating margin rose from 2.9% to 10.9% and the equity ratio fell from 57.4% to 50.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 3 MNOK and 13 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 21.2 | 13 MNOK |
| EV/EBIT | 16.6 | 3 MNOK |
| P/B | 2.2 | 6 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
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 1.1% 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 1.5%. 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 | 77 | weight 30% |
|---|---|---|
| Solidity | 60 | weight 25% |
| Liquidity | 46 | weight 15% |
| Growth | 59 | weight 15% |
| Consistency | 59 | weight 15% |
Durability: 66 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Aagaard Management AS?
The operating margin was 10.9% in 2025, against a median of 2.6% among companies in the Morning class Micro in the same sector. Return on assets was 19.3%.
How solid is Aagaard Management AS?
The equity ratio was 50.1% in 2025 (median 33.5%). Debt-to-equity was 0.99 (median 1.25).
What is the liquidity of Aagaard Management AS like?
The current ratio was 1.62 in 2025 (median 1.74).
How does Aagaard Management AS compare in Handel?
Aagaard Management AS ranks 5,892 of 22,940 in Handel for 2025. Among companies in the Morning class Micro it is number 2,877 of 11,281. Revenue changed by 7.7% 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.
From the Central Coordinating Register
- Org. no.
- 912421651
- Legal form
- AS · part of a group
- Sector
- Handel (47.910)
- Morning company class
- Micro
- Employees
- 5 registered 10 July 2023
- Founded
- 13 August 2013 13 years in operation
- Share capital
- 0.54 MNOK
- Business address
- Haakon VII's gate 19B, 7041 TRONDHEIM
- Municipality
- Trondheim rank 3 of 11 in KOSTRA group 12
- 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 29 October 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 4
- Largest owner
- 20.0% · top three 40.0%
- Split
- companies 30% · private persons 20% · foreign 0%
- T. AA Holding AS · 20.0%
- I. AA Holding AS · 20.0%
- J. AA Holding AS · 20.0%
- 1 private persons · 40.0%
The company is new in the shareholder register in 2025.
Majority owner of: Aagaard Holding AS (100%)
Holds shares in: Aagaard Holding AS (100%)
The owners' shares do not add up to the company's total number of shares in the source.
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 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 73 | 63 | 63 | |
| Rank | 3,482 | 5,786 | 5,892 | |
| Operating margin | 4.4% | 2.9% | 10.9% | |
| Return on assets | 18.6% | 6.2% | 19.3% | |
| Equity ratio | 64.6% | 57.4% | 50.1% | |
| Current ratio | 2.81 | 2.19 | 1.62 | |
| Revenue growth | – | 33.3% | 7.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 4.2 MNOK | 5.6 MNOK | 6.0 MNOK |
| Operating profit | 0.2 MNOK | 0.2 MNOK | 0.7 MNOK |
| Profit before tax | 1.5 MNOK | 0.5 MNOK | 2.1 MNOK |
| Tax expense | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Net profit | 1.4 MNOK | 0.4 MNOK | 1.8 MNOK |
| Financial expenses | 0.2 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 9.0 MNOK | 9.0 MNOK | 11.0 MNOK |
| Current assets | 6.7 MNOK | 7.0 MNOK | 8.5 MNOK |
| Equity | 5.8 MNOK | 5.2 MNOK | 5.5 MNOK |
| Retained earnings | 5.3 MNOK | 4.6 MNOK | 5.0 MNOK |
| Total liabilities | 3.2 MNOK | 3.9 MNOK | 5.5 MNOK |
| Current liabilities | 2.4 MNOK | 3.2 MNOK | 5.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7093834.
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