NORFRA AS
Score · fiscal year 2025
46of 100
How to read this: the company is ahead of 42 % of small companies in the same sector in 2025. What does this mean?
Rank: 2,455 of 4,158 · Sjømat
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 36 and solidity 52 out of 100 among small companies in the same sector in 2025. Methodology
Against the sector
NORFRA AS is 4 points below the median for small companies in the same sector in 2025.
Median score 50 among 3,607 companies.
Against small companies in the same sector in 2025: operating margin −46.2% (median 9.9%) and equity ratio 46.2% (median 36.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 2 MNOK |
| Operating margin | −46.2% | 9.9% |
| Profit margin | 27.2% | 6.6% |
| Return on assets | 4.6% | 3.1% |
| Equity ratio | 46.2% | 36.4% |
| Debt-to-equity | 1.16 | 1.03 |
| Current ratio | 1.16 | 1.66 |
| Revenue growth | 10.2% | 13.5% |
| Revenue per employee | 1.20 MNOK | 1.95 MNOK |
The median and “ahead of” refer to small companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 46, NORFRA AS does better than 42% of small companies in the same sector (3,639 companies) in 2025.
Score 2023–2025
- NORFRA AS
- Median: small companies in the same sector
NORFRA AS has a score of 46 for 2025, rank 2,455 of 4,158 in the sector.
Strongest: Consistency: percentile 60 against peers.
Weakest: Profitability: percentile 36 against peers, operating margin −46.2% against a median of 9.9%. Liquidity: percentile 39 against peers, current ratio 1.16 against a median of 1.66.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −46.2% (median 9.9%).
- What lies behind weak profitability, and will it last?
- What lies behind weak liquidity, 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
NORFRA AS had an operating margin of −46.2% and an equity ratio of 46.2% in 2025, and ranks 2,455 of 4,158 in Sjømat.
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −52.5% to −46.2%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 25 MNOK and 90 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 25 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 90 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
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −46.2% (median 9.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.0% 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.
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 −5.0%. 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 | 36 | weight 30% |
|---|---|---|
| Solidity | 52 | weight 25% |
| Liquidity | 39 | weight 15% |
| Growth | 47 | weight 15% |
| Consistency | 60 | weight 15% |
Durability: 51 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is NORFRA AS?
The operating margin was −46.2% in 2025, against a median of 9.9% among small companies in the same sector. Return on assets was 4.6%.
How solid is NORFRA AS?
The equity ratio was 46.2% in 2025 (median 36.4%). Debt-to-equity was 1.16 (median 1.03).
What is the liquidity of NORFRA AS like?
The current ratio was 1.16 in 2025 (median 1.66).
How does NORFRA AS compare in Sjømat?
NORFRA AS ranks 2,455 of 4,158 in Sjømat for 2025. Among companies of the same size (small companies) it ranks 2,115 of 3,639. Revenue changed by 10.2% from the year before.
Group accounts · 2025
48 of 100
Rank 702 of 1300 groups with group accounts. Groups are ranked only against each other, not against single companies.
- Operating revenue, group
- 562 MNOK
- Operating profit, group
- 13 MNOK
- Profit before tax, group
- 3 MNOK
- Total assets, group
- 250 MNOK
- Equity, group
- 91 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 2.3% | −46.2% |
| Return on assets | 9.0% | 4.6% |
| Equity ratio | 36.3% | 46.2% |
| Current ratio | 1.25 | 1.16 |
| Revenue growth | 21.9% | 10.2% |
Group index in earlier years: 2023: 57 (639 of 1687), 2024: 40 (924 of 1345).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 971094060
- Legal form
- AS · part of a group
- Sector
- Sjømat (10.201)
- Size tier
- small
- Employees
- 5 registered 10 October 2026
- Founded
- 8 April 1994 32 years in operation
- Share capital
- 3.08 MNOK
- Business address
- Strandvegen 106, 9006 TROMSØ
- Municipality
- Tromsø rank 9 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
- Chief executive
- Bjørg Helen Nøstvold
- Chair of the board
- Steinar Eliassen
- Board member
- Frode Eliassen
- Board member
- Liv Margrethe Hansen
- Board member
- Bernt Arne Bertheussen
- Board member
- Inga Marie Holst
- Board member
- Ragnhild Angell Holst
- Deputy member
- Leif Roger Nylund
- Deputy member
- Jan Arne Kvalsvik
- Auditor
- NORDNORSK REVISJON 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 | 54 | 53 | 46 | |
| Rank | 1,557 | 1,753 | 2,455 | |
| Operating margin | −58.2% | −52.5% | −46.2% | |
| Return on assets | 7.6% | 2.7% | 4.6% | |
| Equity ratio | 57.7% | 58.3% | 46.2% | |
| Current ratio | 1.36 | 1.42 | 1.16 | |
| Revenue growth | – | 7.4% | 10.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 5.1 MNOK | 5.4 MNOK | 6.0 MNOK |
| Operating profit | −2.9 MNOK | −2.9 MNOK | −2.8 MNOK |
| Profit before tax | 5.9 MNOK | −3.8 MNOK | 1.6 MNOK |
| Net profit | 6.4 MNOK | −3.0 MNOK | 2.5 MNOK |
| Financial expenses | 6.3 MNOK | 7.9 MNOK | 7.3 MNOK |
| Total assets | 161.9 MNOK | 152.5 MNOK | 194.5 MNOK |
| Current assets | 59.9 MNOK | 54.6 MNOK | 95.3 MNOK |
| Equity | 93.4 MNOK | 88.9 MNOK | 89.8 MNOK |
| Retained earnings | 90.4 MNOK | 85.8 MNOK | 86.8 MNOK |
| Total liabilities | 68.5 MNOK | 63.7 MNOK | 104.7 MNOK |
| Current liabilities | 44.1 MNOK | 38.4 MNOK | 82.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6919876.
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