Ecunor Aqua AS
Score · fiscal year 2025
44of 100
How to read this: the company is ahead of 37 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 753 of 1,197 · What are Morning company classes?
Place in the whole sector: 1,412 of 2,213 · Sjømat
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 46 and solidity 31 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Ecunor Aqua AS is 6 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 1,197 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 7.4% (median 13.6%) and equity ratio 19.9% (median 34.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3 MNOK | 3 MNOK |
| Operating margin | 7.4% | 13.6% |
| Profit margin | 5.5% | 9.7% |
| Return on assets | 8.8% | 7.4% |
| Equity ratio | 19.9% | 34.3% |
| Debt-to-equity | 4.02 | 1.46 |
| Current ratio | 0.63 | 1.72 |
| Revenue growth | 66.8% | 23.6% |
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 44, Ecunor Aqua AS does better than 37% of companies in the Morning class Micro in the same sector (1,197 companies) in 2025.
Score 2023–2025
- Ecunor Aqua AS
- Median: companies in the Morning class Micro in the same sector
Ecunor Aqua AS has a score of 44 for 2025, rank 1,412 of 2,213 in the sector.
Strongest: Growth: percentile 78 against peers, revenue growth 66.8% against a median of 23.6%.
Weakest: Liquidity: percentile 20 against peers, current ratio 0.63 against a median of 1.72. Solidity: percentile 31 against peers, equity ratio 19.9% against a median of 34.3%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.6 times current assets. Based on: current ratio 0.63 (median 1.72).
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 66.8% (median 23.6%); current ratio 0.63 (median 1.72).
- 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
Ecunor Aqua AS had an operating margin of 7.4% and an equity ratio of 19.9% in 2025, and ranks 1,412 of 2,213 in Sjømat.
From 2024 to 2025: went from a loss to a profit before tax and revenue grew by 67%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 0 MNOK and 1 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 16.9 | 0 MNOK |
| EV/EBIT | 17.0 | 1 MNOK |
| P/B | 2.2 | 0 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
Consider strengthening liquidity: current liabilities are 1.6 times current assets.
Based on: Current ratio 0.63 (median 1.72).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 66.8% (median 23.6%); Current ratio 0.63 (median 1.72).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.0% 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 −0.5%. 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 | 46 | weight 30% |
|---|---|---|
| Solidity | 31 | weight 25% |
| Liquidity | 20 | weight 15% |
| Growth | 78 | weight 15% |
| Consistency | 49 | weight 15% |
Durability: 32 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Ecunor Aqua AS?
The operating margin was 7.4% in 2025, against a median of 13.6% among companies in the Morning class Micro in the same sector. Return on assets was 8.8%.
How solid is Ecunor Aqua AS?
The equity ratio was 19.9% in 2025 (median 34.3%). Debt-to-equity was 4.02 (median 1.46).
What is the liquidity of Ecunor Aqua AS like?
The current ratio was 0.63 in 2025 (median 1.72). Current assets did not cover current liabilities.
How does Ecunor Aqua AS compare in Sjømat?
Ecunor Aqua AS ranks 1,412 of 2,213 in Sjømat for 2025. Among companies in the Morning class Micro it is number 753 of 1,197. Revenue changed by 66.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 914108403
- Legal form
- AS
- Sector
- Sjømat (03.300)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 25 August 2014 12 years in operation
- Share capital
- 0.33 MNOK
- Business address
- Dørndalsveien 47, 7100 RISSA (INDRE FOSEN)
- Municipality
- Indre Fosen rank 37 of 38 in KOSTRA group 7
- Audit
- Audit opted out from 29 October 2014
- 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
- 2 (one owner holds more than half)
- Largest owner
- 80.5%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- 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 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 20 | 33 | 44 | |
| Rank | 1,854 | 1,556 | 1,412 | |
| Operating margin | −2.2% | 9.2% | 7.4% | |
| Return on assets | −1.9% | 6.6% | 8.8% | |
| Equity ratio | 14.2% | 11.4% | 19.9% | |
| Current ratio | 0.47 | 0.39 | 0.63 | |
| Revenue growth | – | −11.0% | 66.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.7 MNOK | 1.5 MNOK | 2.5 MNOK |
| Operating profit | 0.0 MNOK | 0.1 MNOK | 0.2 MNOK |
| Profit before tax | −0.1 MNOK | −0.1 MNOK | 0.1 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.1 MNOK | 0.0 MNOK | 0.1 MNOK |
| Financial expenses | 0.0 MNOK | 0.2 MNOK | 0.1 MNOK |
| Total assets | 2.0 MNOK | 2.1 MNOK | 2.1 MNOK |
| Current assets | 0.8 MNOK | 0.7 MNOK | 1.0 MNOK |
| Equity | 0.3 MNOK | 0.2 MNOK | 0.4 MNOK |
| Retained earnings | 0.0 MNOK | −0.1 MNOK | 0.1 MNOK |
| Total liabilities | 1.7 MNOK | 1.9 MNOK | 1.7 MNOK |
| Current liabilities | 1.7 MNOK | 1.9 MNOK | 1.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7136637.
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