ULSET AS
Score · fiscal year 2023
52of 100
How to read this: the company is ahead of 53 % of companies in the Morning class Small in the same sector in 2023. What does this mean?
Rank in the Morning class Small: 15,204 of 32,642 · What are Morning company classes?
Place in the whole sector: 16,175 of 34,736 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 54 and solidity 58 out of 100 among companies in the Morning class Small in the same sector in 2023. Methodology
Against the sector
ULSET AS is 2 points above the median for companies in the Morning class Small in the same sector in 2023.
Median score 50 among 32,558 companies.
Against companies in the Morning class Small in the same sector in 2023: operating margin 4.4% (median 2.5%) and equity ratio 54.1% (median 39.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3 MNOK | 4 MNOK |
| Operating margin | 4.4% | 2.5% |
| Profit margin | 0.3% | 2.2% |
| Return on assets | 3.8% | 4.0% |
| Equity ratio | 54.1% | 39.1% |
| Debt-to-equity | 0.85 | 1.00 |
| Current ratio | 2.63 | 1.70 |
| Revenue growth | – | 0.0% |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 52, ULSET AS does better than 53% of companies in the Morning class Small in the same sector (32,642 companies) in 2023.
Score 2023–2025
- ULSET AS
- Median: companies in the Morning class Small in the same sector
What the numbers say
ULSET AS had an operating margin of 4.4% and an equity ratio of 54.1% in 2023, and ranks 16,175 of 34,736 in Handel.
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 0 MNOK and 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 0 MNOK |
| EV/EBIT | 8.0 | 1 MNOK |
| P/B | 1.0 | 2 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
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 7.6% of the debt in 2023. The policy rate averaged 3.54 % 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 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. 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 | 54 | weight 30% |
|---|---|---|
| Solidity | 58 | weight 25% |
| Liquidity | 67 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 22 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is ULSET AS?
The operating margin was 4.4% in 2023, against a median of 2.5% among companies in the Morning class Small in the same sector. Return on assets was 3.8%.
How solid is ULSET AS?
The equity ratio was 54.1% in 2023 (median 39.1%). Debt-to-equity was 0.85 (median 1.00).
What is the liquidity of ULSET AS like?
The current ratio was 2.63 in 2023 (median 1.70).
How does ULSET AS compare in Handel?
ULSET AS ranks 16,175 of 34,736 in Handel for 2023. Among companies in the Morning class Small it is number 15,204 of 32,642.
From the Central Coordinating Register
- Org. no.
- 970989560
- Legal form
- AS
- Sector
- Handel (46.450)
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 20 February 1994 32 years in operation
- Share capital
- 3.00 MNOK
- Business address
- Korsmovegen 14, 2100 SKARNES (SØR-ODAL)
- Municipality
- Sør-Odal rank 20–30 of 40 in KOSTRA group 1
- Audit
- Audit opted out from 29 October 2019
- 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
- Chief executive
- Stig Ulset
- Chair of the board
- Stig Ulset
- Board member
- Nina Pettersen Ulset
- Accountant
- GUDMUNDSEN REGNSKAPSBYRÅ 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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 52 | 44 | 36 | |
| Rank | 16,175 | 22,801 | 28,728 | |
| Operating margin | 4.4% | −2.7% | −13.5% | |
| Return on assets | 3.8% | −2.1% | −18.3% | |
| Equity ratio | 54.1% | 47.5% | 38.1% | |
| Current ratio | 2.63 | 2.08 | 1.70 | |
| Revenue growth | – | 6.9% | 4.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.4 MNOK | 3.6 MNOK | 3.8 MNOK |
| Operating profit | 0.1 MNOK | −0.1 MNOK | −0.5 MNOK |
| Profit before tax | 0.0 MNOK | −0.3 MNOK | −0.7 MNOK |
| Net profit | 0.0 MNOK | −0.2 MNOK | −0.6 MNOK |
| Financial expenses | 0.1 MNOK | 0.2 MNOK | – |
| Total assets | 4.2 MNOK | 4.3 MNOK | 3.9 MNOK |
| Current assets | 3.4 MNOK | 3.6 MNOK | 3.3 MNOK |
| Equity | 2.3 MNOK | 2.1 MNOK | 1.5 MNOK |
| Retained earnings | −0.7 MNOK | −0.9 MNOK | −1.5 MNOK |
| Total liabilities | 1.9 MNOK | 2.3 MNOK | 2.4 MNOK |
| Current liabilities | 1.3 MNOK | 1.7 MNOK | 2.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 5344757.
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