MODULE SOLUTIONS & Systems AS
Score · fiscal year 2025
78of 100
How to read this: the company is ahead of 96 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 162 of 3,711 · What are Morning company classes?
Place in the whole sector: 1,025 of 22,952 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 87 and solidity 81 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
MODULE SOLUTIONS & Systems AS is 28 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 3,711 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 8.8% (median 3.0%) and equity ratio 54.5% (median 30.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 68 MNOK | 93 MNOK |
| Operating margin | 8.8% | 3.0% |
| Profit margin | 8.2% | 2.8% |
| Return on assets | 31.0% | 11.6% |
| Equity ratio | 54.5% | 30.0% |
| Debt-to-equity | 0.84 | 2.24 |
| Current ratio | 2.96 | 1.39 |
| Revenue growth | 13.1% | 6.1% |
| Revenue per employee | 11.25 MNOK | 5.08 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 78, MODULE SOLUTIONS & Systems AS does better than 96% of companies in the Morning class Medium in the same sector (3,711 companies) in 2025.
Score 2023–2025
- MODULE SOLUTIONS & Systems AS
- Median: companies in the Morning class Medium in the same sector
MODULE SOLUTIONS & Systems AS has a score of 78 for 2025, rank 1,025 of 22,952 in the sector.
Strongest: Liquidity: percentile 89 against peers, current ratio 2.96 against a median of 1.39. Profitability: percentile 87 against peers, operating margin 8.8% against a median of 3.0%.
No area is clearly below its peers.
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
MODULE SOLUTIONS & Systems AS had an operating margin of 8.8% and an equity ratio of 54.5% in 2025, and ranks 1,025 of 22,952 in Handel.
From 2024 to 2025: the equity ratio rose from 24.6% to 54.5% and revenue grew by 13%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 11 MNOK and 50 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 43 MNOK |
| EV/EBIT | 8.0 | 50 MNOK |
| P/B | 1.0 | 11 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 8.8% (median 3.0%); Equity ratio 54.5% (median 30.0%); Current ratio 2.96 (median 1.39).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.4% 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 1.5%. 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 | 87 | weight 30% |
|---|---|---|
| Solidity | 81 | weight 25% |
| Liquidity | 89 | weight 15% |
| Growth | 70 | weight 15% |
| Consistency | 56 | weight 15% |
Durability: 56 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MODULE SOLUTIONS & Systems AS?
The operating margin was 8.8% in 2025, against a median of 3.0% among companies in the Morning class Medium in the same sector. Return on assets was 31.0%.
How solid is MODULE SOLUTIONS & Systems AS?
The equity ratio was 54.5% in 2025 (median 30.0%). Debt-to-equity was 0.84 (median 2.24).
What is the liquidity of MODULE SOLUTIONS & Systems AS like?
The current ratio was 2.96 in 2025 (median 1.39).
How does MODULE SOLUTIONS & Systems AS compare in Handel?
MODULE SOLUTIONS & Systems AS ranks 1,025 of 22,952 in Handel for 2025. Among companies in the Morning class Medium it is number 162 of 3,711. Revenue changed by 13.1% from the year before.
Public contracts
- Contracts awarded since 2024
- 0
- Total awarded value since 2024
- value not stated
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 12 May 2020 | Vestland fylkeskommune | Vardebrua 2. utlysning | 4.8 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.
- 983228488
- Legal form
- AS
- Sector
- Handel (46.630)
- Morning company class
- Medium
- Employees
- 6 registered 10 June 2026
- Founded
- 5 April 2001 25 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Skvadronvegen 22, 4050 SOLA
- Municipality
- Sola rank 2 of 27 in KOSTRA group 9
- Latest accounts filed
- 2025
- LEI
- 5493002HBSYF8SIRQA87 not renewed (lapsed)
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
- Morten Alstadsæther
- Chair of the board
- Arne Incoronato
- Board member
- Morten Alstadsæther
- Board member
- Jan Sekse
- Board member
- Thomas Sekse
- Auditor
- Forus Revisjon AS
- Accountant
- JANSSON & Larsen Regnskap AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
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 | 30 | 60 | 78 | |
| Rank | 16,384 | 6,946 | 1,025 | |
| Operating margin | 2.5% | 6.5% | 8.8% | |
| Return on assets | 2.9% | 14.0% | 31.0% | |
| Equity ratio | 17.6% | 24.6% | 54.5% | |
| Current ratio | 1.22 | 1.52 | 2.96 | |
| Revenue growth | – | 103.5% | 13.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 29.3 MNOK | 59.7 MNOK | 67.5 MNOK |
| Operating profit | 0.7 MNOK | 3.9 MNOK | 5.9 MNOK |
| Profit before tax | −0.3 MNOK | 3.2 MNOK | 5.6 MNOK |
| Net profit | −0.2 MNOK | 2.6 MNOK | 4.3 MNOK |
| Financial expenses | 1.1 MNOK | 1.0 MNOK | 0.5 MNOK |
| Total assets | 26.3 MNOK | 29.6 MNOK | 19.5 MNOK |
| Current assets | 20.4 MNOK | 27.7 MNOK | 18.8 MNOK |
| Equity | 4.6 MNOK | 7.3 MNOK | 10.6 MNOK |
| Retained earnings | 3.3 MNOK | 5.9 MNOK | 9.2 MNOK |
| Total liabilities | 21.7 MNOK | 22.3 MNOK | 8.9 MNOK |
| Current liabilities | 16.7 MNOK | 18.2 MNOK | 6.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 7022806.
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