Blue Sea AS
Score · fiscal year 2025
59of 100
How to read this: the company is ahead of 70 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 359 of 1,197 · What are Morning company classes?
Place in the whole sector: 666 of 2,213 · Sjømat
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 86 and solidity 26 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Blue Sea AS is 9 points above 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 47.1% (median 13.6%) and equity ratio 16.6% (median 34.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 3 MNOK |
| Operating margin | 47.1% | 13.6% |
| Profit margin | 40.4% | 9.7% |
| Return on assets | 18.0% | 7.4% |
| Equity ratio | 16.6% | 34.3% |
| Debt-to-equity | 5.03 | 1.46 |
| Current ratio | 1.50 | 1.72 |
| Revenue growth | 313.2% | 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 59, Blue Sea AS does better than 70% of companies in the Morning class Micro in the same sector (1,197 companies) in 2025.
Score 2023–2025
- Blue Sea AS
- Median: companies in the Morning class Micro in the same sector
Blue Sea AS has a score of 59 for 2025, rank 666 of 2,213 in the sector.
Strongest: Growth: percentile 95 against peers, revenue growth 313.2% against a median of 23.6%. Profitability: percentile 86 against peers, operating margin 47.1% against a median of 13.6%.
Weakest: Solidity: percentile 26 against peers, equity ratio 16.6% against a median of 34.3%. Consistency: percentile 38 against peers.
Worth a closer look
- What lies behind weak solidity, and will it last?
- What lies behind weak consistency, 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
Blue Sea AS had an operating margin of 47.1% and an equity ratio of 16.6% in 2025, and ranks 666 of 2,213 in Sjømat.
From 2024 to 2025: revenue grew by 313% and the operating margin rose from −1.1% to 47.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 8 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 16.9 | 5 MNOK |
| EV/EBIT | 17.0 | 8 MNOK |
| P/B | 2.2 | 2 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 3.2% 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.
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 | 86 | weight 30% |
|---|---|---|
| Solidity | 26 | weight 25% |
| Liquidity | 45 | weight 15% |
| Growth | 95 | weight 15% |
| Consistency | 38 | weight 15% |
Durability: 50 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Blue Sea AS?
The operating margin was 47.1% in 2025, against a median of 13.6% among companies in the Morning class Micro in the same sector. Return on assets was 18.0%.
How solid is Blue Sea AS?
The equity ratio was 16.6% in 2025 (median 34.3%). Debt-to-equity was 5.03 (median 1.46).
What is the liquidity of Blue Sea AS like?
The current ratio was 1.50 in 2025 (median 1.72).
How does Blue Sea AS compare in Sjømat?
Blue Sea AS ranks 666 of 2,213 in Sjømat for 2025. Among companies in the Morning class Micro it is number 359 of 1,197. Revenue changed by 313.2% from the year before.
From the Central Coordinating Register
- Org. no.
- 926021850
- Legal form
- AS
- Sector
- Sjømat (03.110)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 5 November 2020 6 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Nord-Fugløyveien 830, 9135 VANNVÅG (KARLSØY)
- Municipality
- Karlsøy rank 6–24 of 28 in KOSTRA group 6
- Audit
- Audit opted out from 23 November 2020
- 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
- 1 (one owner)
- Largest owner
- 100.0%
- 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 27 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 55 | 36 | 59 | |
| Rank | 844 | 1,450 | 666 | |
| Operating margin | 31.9% | −1.1% | 47.1% | |
| Return on assets | 17.0% | −0.3% | 18.0% | |
| Equity ratio | 22.7% | 22.9% | 16.6% | |
| Current ratio | 1.46 | 2.83 | 1.50 | |
| Revenue growth | – | −43.0% | 313.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.8 MNOK | 1.0 MNOK | 4.3 MNOK |
| Operating profit | 0.6 MNOK | 0.0 MNOK | 2.0 MNOK |
| Profit before tax | 0.5 MNOK | −0.1 MNOK | 1.7 MNOK |
| Tax expense | 0.1 MNOK | 0.0 MNOK | 0.3 MNOK |
| Net profit | 0.4 MNOK | −0.1 MNOK | 1.4 MNOK |
| Financial expenses | −0.1 MNOK | 0.1 MNOK | 0.3 MNOK |
| Total assets | 2.6 MNOK | 2.2 MNOK | 11.3 MNOK |
| Current assets | 0.4 MNOK | 0.2 MNOK | 0.8 MNOK |
| Equity | 0.6 MNOK | 0.5 MNOK | 1.9 MNOK |
| Retained earnings | 0.5 MNOK | 0.5 MNOK | 1.8 MNOK |
| Total liabilities | 2.0 MNOK | 1.7 MNOK | 9.4 MNOK |
| Current liabilities | 0.3 MNOK | 0.1 MNOK | 0.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 6463291.
Further
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