Naturbakst AS
Score · fiscal year 2025
54of 100
How to read this: the company is ahead of 56 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 695 of 1,565 · What are Morning company classes?
Place in the whole sector: 1,845 of 4,248 · Industri
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 83 and solidity 24 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Naturbakst AS is 3 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 1,565 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 10.5% (median 4.4%) and equity ratio 23.6% (median 41.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 28 MNOK | 23 MNOK |
| Operating margin | 10.5% | 4.4% |
| Profit margin | 10.8% | 4.1% |
| Return on assets | 28.2% | 9.4% |
| Equity ratio | 23.6% | 41.2% |
| Debt-to-equity | 3.24 | 1.30 |
| Current ratio | 1.19 | 1.72 |
| Revenue growth | 12.0% | 5.3% |
| Revenue per employee | 0.58 MNOK | 1.63 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 54, Naturbakst AS does better than 56% of companies in the Morning class Small in the same sector (1,565 companies) in 2025.
Score 2023–2025
- Naturbakst AS
- Median: companies in the Morning class Small in the same sector
Naturbakst AS has a score of 54 for 2025, rank 1,845 of 4,248 in the sector.
Strongest: Profitability: percentile 83 against peers, operating margin 10.5% against a median of 4.4%. Growth: percentile 66 against peers, revenue growth 12.0% against a median of 5.3%.
Weakest: Solidity: percentile 24 against peers, equity ratio 23.6% against a median of 41.2%. Liquidity: percentile 24 against peers, current ratio 1.19 against a median of 1.72.
Worth a closer look
- What lies behind weak solidity, 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
Naturbakst AS had an operating margin of 10.5% and an equity ratio of 23.6% in 2025, and ranks 1,845 of 4,248 in Industri.
From 2024 to 2025: the operating margin rose from 8.1% to 10.5% and revenue grew by 12%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 4 MNOK and 23 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.2 | 20 MNOK |
| EV/EBIT | 18.6 | 23 MNOK |
| P/B | 3.0 | 4 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 1.1% 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 1.4%. 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 | 83 | weight 30% |
|---|---|---|
| Solidity | 24 | weight 25% |
| Liquidity | 24 | weight 15% |
| Growth | 66 | weight 15% |
| Consistency | 61 | 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 Naturbakst AS?
The operating margin was 10.5% in 2025, against a median of 4.4% among companies in the Morning class Small in the same sector. Return on assets was 28.2%.
How solid is Naturbakst AS?
The equity ratio was 23.6% in 2025 (median 41.2%). Debt-to-equity was 3.24 (median 1.30).
What is the liquidity of Naturbakst AS like?
The current ratio was 1.19 in 2025 (median 1.72).
How does Naturbakst AS compare in Industri?
Naturbakst AS ranks 1,845 of 4,248 in Industri for 2025. Among companies in the Morning class Small it is number 695 of 1,565. Revenue changed by 12.0% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 1 August 2025 | Rogaland fylkeskommune | Brød- og bakevarer | 1.6 MNOK (framework) |
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.
- 983481590
- Legal form
- AS · part of a group
- Sector
- Industri (10.710)
- Morning company class
- Small
- Employees
- 49 registered 10 October 2026
- Founded
- 23 May 2001 25 years in operation
- Share capital
- 0.20 MNOK
- Business address
- Haraldsgata 81, 5528 HAUGESUND
- Municipality
- Haugesund rank 1–6 of 13 in KOSTRA group 10
- 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 31 October 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Naturbakst Holding AS (100%)
Ultimate owner: Naturbakst Holding AS
- Naturbakst Holding AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 2 departed owners). The majority owner changed.
New owners (companies): Naturbakst Holding AS
Holds shares in: Din Baker AS (2%), Haugesund Sentrum Næringsdrift AS (1%)
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 2 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 43 | 55 | 54 | |
| Rank | 2,499 | 1,762 | 1,845 | |
| Operating margin | 7.7% | 8.1% | 10.5% | |
| Return on assets | 22.6% | 23.7% | 28.2% | |
| Equity ratio | 23.6% | 29.0% | 23.6% | |
| Current ratio | 1.21 | 1.38 | 1.19 | |
| Revenue growth | – | 11.3% | 12.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 22.6 MNOK | 25.2 MNOK | 28.2 MNOK |
| Operating profit | 1.8 MNOK | 2.0 MNOK | 3.0 MNOK |
| Profit before tax | 1.8 MNOK | 2.0 MNOK | 3.1 MNOK |
| Tax expense | 0.4 MNOK | 0.4 MNOK | 0.7 MNOK |
| Net profit | 1.4 MNOK | 1.6 MNOK | 2.4 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 8.3 MNOK | 9.1 MNOK | 11.2 MNOK |
| Current assets | 5.3 MNOK | 6.6 MNOK | 8.8 MNOK |
| Equity | 2.0 MNOK | 2.7 MNOK | 2.6 MNOK |
| Retained earnings | 1.8 MNOK | 2.5 MNOK | 2.4 MNOK |
| Total liabilities | 6.3 MNOK | 6.5 MNOK | 8.5 MNOK |
| Current liabilities | 4.4 MNOK | 4.8 MNOK | 7.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 2 November 2026, accounts id 6704692.
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