Nobina AS
Score · fiscal year 2025
23of 100
How to read this: the company is ahead of 7 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 77 of 83 · What are Morning company classes?
Place in the whole sector: 1,244 of 1,364 · Transport og lagring
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 4 and solidity 38 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Nobina AS is 28 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 51 among 83 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin −8.4% (median 2.3%) and equity ratio 17.2% (median 22.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1,638 MNOK | 1,125 MNOK |
| Operating margin | −8.4% | 2.3% |
| Profit margin | −8.0% | 2.6% |
| Return on assets | −27.0% | 7.2% |
| Equity ratio | 17.2% | 22.0% |
| Debt-to-equity | 4.82 | 3.43 |
| Current ratio | 0.84 | 1.11 |
| Revenue growth | 6.4% | 6.5% |
| Revenue per employee | 1.30 MNOK | 4.59 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 23, Nobina AS does better than 7% of companies in the Morning class Large in the same sector (83 companies) in 2025.
Score 2024–2026
- Nobina AS
- Median: companies in the Morning class Large in the same sector
Nobina AS has a score of 23 for 2025, rank 1,244 of 1,364 in the sector.
Strongest: Growth: percentile 49 against peers, revenue growth 6.4% against a median of 6.5%.
Weakest: Profitability: percentile 4 against peers, operating margin −8.4% against a median of 2.3%. Consistency: percentile 5 against peers.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.2 times current assets. Based on: current ratio 0.84 (median 1.11).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −8.0% (median 2.6%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −8.4% (median 2.3%).
- What lies behind weak profitability, 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
Nobina AS had an operating margin of −8.4% and an equity ratio of 17.2% in 2025, and ranks 1,244 of 1,364 in Transport og lagring.
From 2024 to 2025: the equity ratio fell from 38.6% to 17.2% and the operating margin fell from −1.6% to −8.4%.
Nobina AS did weaker than the sector in 2025, the sector's weakest year.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 81 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 81 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
- watch
Consider strengthening liquidity: current liabilities are 1.2 times current assets.
Based on: Current ratio 0.84 (median 1.11).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −8.0% (median 2.6%).
- 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 −8.4% (median 2.3%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.0% 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
The operating margin was −8.4% in 2025 (sector median 3.9%), and the equity ratio 17.2%. The company had a loss before tax that year. In the other years the operating margin averaged −4.6%.
The sector's weakest year was 2025, with a median operating margin of 3.9%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 4 | weight 30% |
|---|---|---|
| Solidity | 38 | weight 25% |
| Liquidity | 26 | weight 15% |
| Growth | 49 | weight 15% |
| Consistency | 5 | weight 15% |
Durability: 34 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Nobina AS?
The operating margin was −8.4% in 2025, against a median of 2.3% among companies in the Morning class Large in the same sector. Return on assets was −27.0%. The company made a loss before tax.
How solid is Nobina AS?
The equity ratio was 17.2% in 2025 (median 22.0%). Debt-to-equity was 4.82 (median 3.43).
What is the liquidity of Nobina AS like?
The current ratio was 0.84 in 2025 (median 1.11). Current assets did not cover current liabilities.
How does Nobina AS compare in Transport og lagring?
Nobina AS ranks 1,244 of 1,364 in Transport og lagring for 2025. Among companies in the Morning class Large it is number 77 of 83. Revenue changed by 6.4% from the year before.
Public contracts
- Contracts awarded since 2024
- 3
- Total awarded value since 2024
- 1,859.7 MNOK
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 15 July 2025 | Ruter As | Beredskapsbusser 2025 | 24.9 MNOK |
| 2 July 2025 | Møre og Romsdal Fylkeskommune | Konkurranse - Rutepakke 7 - Avtale om kjøp av busstjenester - Møre og Romsdal | 1,834.8 MNOK |
| 30 May 2025 | Ruter As | Rammeavtale Transporttjenester 2025 | 228.6 MNOK (framework) |
| 22 April 2022 | Viken fylkeskommune | Busstjenester i Nedre Glomma | 3,017.5 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 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.
- 915768237
- Legal form
- AS
- Sector
- Transport og lagring (49.310)
- Morning company class
- Large
- Employees
- 1,261 registered 10 October 2026
- Founded
- 28 November 1969 56 years in operation
- Share capital
- 33.57 MNOK
- Business address
- 4. etasje, Schweigaards gate 14, 0185 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2026
- Website
- www.nobina.no
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
- Anne Karine Nordseth
- Chair of the board
- Lars Henrik Dagnäs
- Board member
- Knut Gunvald Trondsen
- Board member
- Vidar Kristian Halvorsen
- Board member
- Anne Karine Nordseth
- Board member
- Hans Vilhelmshaugen
- Board member
- Emma Margita Forsberg
- Auditor
- Pricewaterhousecoopers AS
Source: Central Coordinating Register, fetched 31 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 31 October 2026.
Year by year · 2024–2026
| Key figure | 2024 | 2025 | 2026 | Trend |
|---|---|---|---|---|
| Index | 45 | 23 | 12 | |
| Rank | 817 | 1,244 | 7 | |
| Operating margin | −1.6% | −8.4% | −7.6% | |
| Return on assets | −0.5% | −27.0% | −34.8% | |
| Equity ratio | 38.6% | 17.2% | −6.0% | |
| Current ratio | 1.26 | 0.84 | 0.67 | |
| Revenue growth | – | 6.4% | −1.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2024 | 2025 | 2026 |
|---|---|---|---|
| Operating revenue | 1,539.2 MNOK | 1,638.1 MNOK | 1,619.8 MNOK |
| Operating profit | −25.2 MNOK | −137.7 MNOK | −123.0 MNOK |
| Profit before tax | −6.2 MNOK | −130.4 MNOK | −140.2 MNOK |
| Net profit | −5.8 MNOK | −130.4 MNOK | −140.2 MNOK |
| Financial expenses | 3.5 MNOK | 3.8 MNOK | 4.2 MNOK |
| Total assets | 547.2 MNOK | 469.0 MNOK | 390.1 MNOK |
| Current assets | 422.8 MNOK | 326.7 MNOK | 276.6 MNOK |
| Equity | 211.0 MNOK | 80.5 MNOK | −23.3 MNOK |
| Retained earnings | −237.3 MNOK | – | −56.9 MNOK |
| Total liabilities | 336.2 MNOK | 388.4 MNOK | 413.4 MNOK |
| Current liabilities | 336.2 MNOK | 388.4 MNOK | 413.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 6303949.
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