MST SHUTTLE LOADING AS
Score · fiscal year 2025
18of 100
How to read this: the company is ahead of 2 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 64 of 65 · What are Morning company classes?
Place in the whole sector: 988 of 1,018 · Sjøfart
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 5 and solidity 10 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
MST SHUTTLE LOADING AS is 33 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 51 among 65 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin −4.7% (median 6.8%) and equity ratio 1.3% (median 33.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3,157 MNOK | 1,106 MNOK |
| Operating margin | −4.7% | 6.8% |
| Profit margin | −10.7% | 5.1% |
| Return on assets | −11.6% | 8.6% |
| Equity ratio | 1.3% | 33.6% |
| Debt-to-equity | 74.37 | 1.85 |
| Current ratio | 0.34 | 1.24 |
| Revenue growth | −4.3% | −0.1% |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 18, MST SHUTTLE LOADING AS does better than 2% of companies in the Morning class Large in the same sector (65 companies) in 2025.
Score 2023–2025
- MST SHUTTLE LOADING AS
- Median: companies in the Morning class Large in the same sector
MST SHUTTLE LOADING AS has a score of 18 for 2025, rank 988 of 1,018 in the sector.
Strongest: Consistency: percentile 49 against peers.
Weakest: Profitability: percentile 5 against peers, operating margin −4.7% against a median of 6.8%. Liquidity: percentile 8 against peers, current ratio 0.34 against a median of 1.24.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.9 times current assets. Based on: current ratio 0.34 (median 1.24).
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 1.3% (median 33.6%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −10.7% (median 5.1%).
- What lies behind weak profitability, 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
MST SHUTTLE LOADING AS had an operating margin of −4.7% and an equity ratio of 1.3% in 2025, and ranks 988 of 1,018 in Sjøfart.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 24 MNOK and 25 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 24 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 25 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
- critical
Consider strengthening liquidity: current liabilities are 2.9 times current assets.
Based on: Current ratio 0.34 (median 1.24).
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 1.3% (median 33.6%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −10.7% (median 5.1%).
- 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 −4.7% (median 6.8%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.3% 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 6.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 5 | weight 30% |
|---|---|---|
| Solidity | 10 | weight 25% |
| Liquidity | 8 | weight 15% |
| Growth | 34 | weight 15% |
| Consistency | 49 | weight 15% |
Durability: 15 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is MST SHUTTLE LOADING AS?
The operating margin was −4.7% in 2025, against a median of 6.8% among companies in the Morning class Large in the same sector. Return on assets was −11.6%. The company made a loss before tax.
How solid is MST SHUTTLE LOADING AS?
The equity ratio was 1.3% in 2025 (median 33.6%). Debt-to-equity was 74.37 (median 1.85).
What is the liquidity of MST SHUTTLE LOADING AS like?
The current ratio was 0.34 in 2025 (median 1.24). Current assets did not cover current liabilities.
How does MST SHUTTLE LOADING AS compare in Sjøfart?
MST SHUTTLE LOADING AS ranks 988 of 1,018 in Sjøfart for 2025. Among companies in the Morning class Large it is number 64 of 65. Revenue changed by −4.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 984837771
- Legal form
- AS
- Sector
- Sjøfart (50.201)
- Morning company class
- Large
- Employees
- 0–4 (not registered)
- Founded
- 3 September 2002 24 years in operation
- Share capital
- 1.50 MNOK
- Business address
- Badehusgata 37, 4014 STAVANGER
- Municipality
- Stavanger rank 5 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 636700Y3EACNUK8CQJ76 renews 24 March 2027
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
- Chair of the board
- Regis Jean Paul Rougier
- Board member
- Kristine Flatekval Varhaug
- Board member
- Carl Christian Bech
- Auditor
- PRICEWATERHOUSECOOPERS AS
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 4 | 23 | 18 | |
| Rank | 888 | 882 | 988 | |
| Operating margin | −3.1% | −3.6% | −4.7% | |
| Return on assets | −4.6% | −2.9% | −11.6% | |
| Equity ratio | −112.1% | 1.3% | 1.3% | |
| Current ratio | 0.24 | 0.64 | 0.34 | |
| Revenue growth | – | 5.3% | −4.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3,132.7 MNOK | 3,298.0 MNOK | 3,157.2 MNOK |
| Operating profit | −96.0 MNOK | −118.2 MNOK | −149.9 MNOK |
| Profit before tax | −319.4 MNOK | −207.3 MNOK | −339.1 MNOK |
| Net profit | −255.0 MNOK | −133.2 MNOK | 2.4 MNOK |
| Financial expenses | 265.7 MNOK | 155.4 MNOK | 117.5 MNOK |
| Total assets | 1,173.9 MNOK | 1,809.9 MNOK | 1,903.6 MNOK |
| Current assets | 580.2 MNOK | 1,098.3 MNOK | 620.9 MNOK |
| Equity | −1,315.8 MNOK | 22.9 MNOK | 25.3 MNOK |
| Retained earnings | −1,316.8 MNOK | – | 2.4 MNOK |
| Total liabilities | 2,489.7 MNOK | 1,787.0 MNOK | 1,878.4 MNOK |
| Current liabilities | 2,462.0 MNOK | 1,710.1 MNOK | 1,812.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7076212.
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