ULSTEIN. AS
Score · fiscal year 2025
66of 100
How to read this: the company is ahead of 81 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 340 of 1,765 · What are Morning company classes?
Place in the whole sector: 4,218 of 20,428 · Bygg og anlegg
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 58 and solidity 86 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
ULSTEIN. AS is 16 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 1,764 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 5.6% (median 4.5%) and equity ratio 50.8% (median 30.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 95 MNOK | 91 MNOK |
| Operating margin | 5.6% | 4.5% |
| Profit margin | 5.4% | 4.5% |
| Return on assets | 13.9% | 11.4% |
| Equity ratio | 50.8% | 30.4% |
| Debt-to-equity | 0.97 | 2.23 |
| Current ratio | 2.34 | 1.38 |
| Revenue growth | −26.0% | 6.8% |
| Revenue per employee | 1.73 MNOK | 2.53 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 66, ULSTEIN. AS does better than 81% of companies in the Morning class Medium in the same sector (1,765 companies) in 2025.
Score 2023–2025
- ULSTEIN. AS
- Median: companies in the Morning class Medium in the same sector
ULSTEIN. AS has a score of 66 for 2025, rank 4,218 of 20,428 in the sector.
Strongest: Liquidity: percentile 92 against peers, current ratio 2.34 against a median of 1.38. Solidity: percentile 86 against peers, equity ratio 50.8% against a median of 30.4%.
Weakest: Growth: percentile 6 against peers, revenue growth −26.0% against a median of 6.8%.
Worth a closer look
- What lies behind weak growth, 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
ULSTEIN. AS had an operating margin of 5.6% and an equity ratio of 50.8% in 2025, and ranks 4,218 of 20,428 in Bygg og anlegg.
From 2024 to 2025: revenue fell by 26%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 21 MNOK and 46 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 40 MNOK |
| EV/EBIT | 8.0 | 46 MNOK |
| P/B | 1.0 | 21 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 2.9% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of 1.8%. 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 | 58 | weight 30% |
|---|---|---|
| Solidity | 86 | weight 25% |
| Liquidity | 92 | weight 15% |
| Growth | 6 | weight 15% |
| Consistency | 80 | weight 15% |
Durability: 64 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is ULSTEIN. AS?
The operating margin was 5.6% in 2025, against a median of 4.5% among companies in the Morning class Medium in the same sector. Return on assets was 13.9%.
How solid is ULSTEIN. AS?
The equity ratio was 50.8% in 2025 (median 30.4%). Debt-to-equity was 0.97 (median 2.23).
What is the liquidity of ULSTEIN. AS like?
The current ratio was 2.34 in 2025 (median 1.38).
How does ULSTEIN. AS compare in Bygg og anlegg?
ULSTEIN. AS ranks 4,218 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Medium it is number 340 of 1,765. Revenue changed by −26.0% from the year before.
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 |
|---|---|---|---|
| 18 October 2024 | Grimstad kommune | Rammeavtaler håndverkertjenester | value not stated |
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.
- 999326536
- Legal form
- AS
- Sector
- Bygg og anlegg (43.410)
- Morning company class
- Medium
- Employees
- 55 registered 10 October 2026
- Founded
- 7 December 2012 13 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Tjønnvoll, 4700 VENNESLA
- Municipality
- Vennesla rank 15–31 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
- Website
- www.ulsteinblikk.no
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
- Kjell Gaustad
- Chair of the board
- Helge Ulstein
- Board member
- Kjell Gaustad
- Board member
- Lisbeth Gjengedal
- Auditor
- Revisjonsfirma Torbjørn Salvesen AS
- Accountant
- Lunden Regnskap 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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 61 | 66 | 66 | |
| Rank | 6,151 | 4,083 | 4,218 | |
| Operating margin | 3.7% | 4.2% | 5.6% | |
| Return on assets | 12.2% | 13.6% | 13.9% | |
| Equity ratio | 39.4% | 46.1% | 50.8% | |
| Current ratio | 1.55 | 1.77 | 2.34 | |
| Revenue growth | – | 10.0% | −26.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 116.9 MNOK | 128.7 MNOK | 95.2 MNOK |
| Operating profit | 4.3 MNOK | 5.4 MNOK | 5.4 MNOK |
| Profit before tax | 4.4 MNOK | 5.2 MNOK | 5.1 MNOK |
| Net profit | 3.4 MNOK | 4.1 MNOK | 4.0 MNOK |
| Financial expenses | 0.3 MNOK | 0.4 MNOK | 0.6 MNOK |
| Total assets | 37.9 MNOK | 41.2 MNOK | 41.0 MNOK |
| Current assets | 35.4 MNOK | 39.0 MNOK | 34.0 MNOK |
| Equity | 14.9 MNOK | 19.0 MNOK | 20.8 MNOK |
| Retained earnings | 11.4 MNOK | 15.5 MNOK | 17.3 MNOK |
| Total liabilities | 22.9 MNOK | 22.2 MNOK | 20.2 MNOK |
| Current liabilities | 22.8 MNOK | 22.1 MNOK | 14.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7100457.
Further
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