MST WIND AS
Score · fiscal year 2025
38of 100
How to read this: the company is ahead of 23 % of medium-sized companies in the same sector in 2025. What does this mean?
Rank: 763 of 1,016 · Sjøfart
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 82 and solidity 10 out of 100 among medium-sized companies in the same sector in 2025. Methodology
Against the sector
MST WIND AS is 11 points below the median for medium-sized companies in the same sector in 2025.
Median score 49 among 273 companies.
Against medium-sized companies in the same sector in 2025: operating margin 57.2% (median 23.0%) and equity ratio 4.3% (median 36.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 136 MNOK | 204 MNOK |
| Operating margin | 57.2% | 23.0% |
| Profit margin | 86.2% | 13.6% |
| Return on assets | 18.0% | 10.1% |
| Equity ratio | 4.3% | 36.2% |
| Debt-to-equity | 22.44 | 1.69 |
| Current ratio | 0.11 | 1.34 |
| Revenue growth | −3.8% | 2.4% |
The median and “ahead of” refer to medium-sized companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 38, MST WIND AS does better than 23% of medium-sized companies in the same sector (273 companies) in 2025.
Score 2023–2025
- MST WIND AS
- Median: medium-sized companies in the same sector
MST WIND AS has a score of 38 for 2025, rank 763 of 1,016 in the sector.
Strongest: Profitability: percentile 82 against peers, operating margin 57.2% against a median of 23.0%.
Weakest: Liquidity: percentile 1 against peers, current ratio 0.11 against a median of 1.34. Solidity: percentile 10 against peers, equity ratio 4.3% against a median of 36.2%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 9.0 times current assets. Based on: current ratio 0.11 (median 1.34).
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 4.3% (median 36.2%).
- 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
MST WIND AS had an operating margin of 57.2% and an equity ratio of 4.3% in 2025, and ranks 763 of 1,016 in Sjøfart.
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from −4.3% to 4.3%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 45 MNOK and 856 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 856 MNOK |
| EV/EBIT | 8.0 | debt above value |
| P/B | 1.0 | 45 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
- critical
Consider strengthening liquidity: current liabilities are 9.0 times current assets.
Based on: Current ratio 0.11 (median 1.34).
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 4.3% (median 36.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.2% 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.
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 5.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 82 | weight 30% |
|---|---|---|
| Solidity | 10 | weight 25% |
| Liquidity | 1 | weight 15% |
| Growth | 32 | weight 15% |
| Consistency | 37 | weight 15% |
Durability: 28 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MST WIND AS?
The operating margin was 57.2% in 2025, against a median of 23.0% among medium-sized companies in the same sector. Return on assets was 18.0%.
How solid is MST WIND AS?
The equity ratio was 4.3% in 2025 (median 36.2%). Debt-to-equity was 22.44 (median 1.69).
What is the liquidity of MST WIND AS like?
The current ratio was 0.11 in 2025 (median 1.34). Current assets did not cover current liabilities.
How does MST WIND AS compare in Sjøfart?
MST WIND AS ranks 763 of 1,016 in Sjøfart for 2025. Among companies of the same size (medium-sized companies) it ranks 210 of 273. Revenue changed by −3.8% from the year before.
From the Central Coordinating Register
- Org. no.
- 920810659
- Legal form
- AS
- Sector
- Sjøfart (50.201)
- Size tier
- medium
- Employees
- 0–4 (not registered)
- Founded
- 23 April 2018 8 years in operation
- Share capital
- 1.20 MNOK
- Business address
- Badehusgata 37, 4014 STAVANGER
- Municipality
- Stavanger rank 5 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
- Chair of the board
- Kristine Flatekval Varhaug
- Board member
- Rein Harald Salte
- Auditor
- PRICEWATERHOUSECOOPERS 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 | 25 | 21 | 38 | |
| Rank | 767 | 895 | 763 | |
| Operating margin | 59.1% | 59.9% | 57.2% | |
| Return on assets | 3.7% | −1.7% | 18.0% | |
| Equity ratio | 5.1% | −4.3% | 4.3% | |
| Current ratio | 0.31 | 0.30 | 0.11 | |
| Revenue growth | – | 1.7% | −3.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 139.3 MNOK | 141.7 MNOK | 136.4 MNOK |
| Operating profit | 82.4 MNOK | 84.8 MNOK | 78.0 MNOK |
| Profit before tax | −45.7 MNOK | −97.0 MNOK | 117.6 MNOK |
| Net profit | −58.2 MNOK | −91.1 MNOK | 85.6 MNOK |
| Financial expenses | 82.1 MNOK | 80.8 MNOK | 73.8 MNOK |
| Total assets | 994.6 MNOK | 942.8 MNOK | 1,065.0 MNOK |
| Current assets | 29.6 MNOK | 29.5 MNOK | 13.3 MNOK |
| Equity | 50.9 MNOK | −40.1 MNOK | 45.4 MNOK |
| Retained earnings | – | −41.3 MNOK | 44.2 MNOK |
| Total liabilities | 943.7 MNOK | 982.9 MNOK | 1,019.6 MNOK |
| Current liabilities | 94.5 MNOK | 99.4 MNOK | 119.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7076208.
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