Sector
Retail and wholesale
FollowDownload sector report (PDF)22,949 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology
Ranking · 2025 · Morning class Large
The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode
Biggest moves · Morning class Large
- Meko Norway AS−37
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 8.3% to 1.2%.
- RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP+33
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −5.1% to 5.4%.
- Eide Seafood AS−30
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 5.2% to −4.3%.
- Hewlett-Packard Norge AS−29
From 2024 to 2025: revenue fell by 30% and the operating margin fell from 2.7% to −0.4%.
Summary analysis
Handel, Morning class Large: 541 ranked companies in fiscal year 2025.
Best in the sector: Stenshagen Invest AS (score 93, operating margin 99.4%, equity ratio 93.5%). Norsk Edelmetallraffinering AS (score 89, operating margin 10.0%, equity ratio 73.0%). BERTEL O. Steen Holding AS (score 88, operating margin 99.1%, equity ratio 81.8%).
Weakest in the sector: Kid Sourcing AS (score 8, operating margin −0.1%, equity ratio 0.3%). Norwegian Agro Machinery AS (score 9, operating margin −7.9%, equity ratio 6.7%). North Sea Seafood AS (score 11, operating margin −1.4%, equity ratio 8.8%).
Worth a closer look
- The median operating margin was about unchanged: 2.5% in 2024 and 2.5% in 2025.
- The median equity ratio rose from 28.8% in 2024 to 30.9% in 2025 (2.1 percentage points).
- The median revenue growth rose from 4.6% in 2024 to 6.9% in 2025 (2.3 percentage points).
- The share with a loss went from 15% in 2024 to 12% in 2025.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
Top lists in the sector · 2025 · Morning class Large
The five largest companies account for 11% of the sector's revenue. Combined profit before tax for the 534 ranked companies: 59,949 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Elkjøp Nordic AS 39,834 MNOK
- REMA Distribusjon Norge AS 37,829 MNOK
- Lerøy Seafood AS 25,239 MNOK
- Harald A Møller ASsubsidiary of Møller Mobility Group AS 25,025 MNOK
- Asko Sentrallager Kjøl ASsubsidiary of Asko Norge AS 20,669 MNOK
Operating revenue.
Most employees
- Apotek 1 Gruppen AS 7,059
- Europris Butikkdrift AS 3,864
- Norsk Medisinaldepot AS 3,702
- NG Kiwi Oslo Akershus AS 3,096
- Aktieselskapet Vinmonopolet 2,940
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Norsk Butikkdrift AS 806.4 MNOK
- Polar Quality AS 473.9 MNOK
- Platina Seafood AS 351.9 MNOK
- GLANDER INTERNATIONAL BUNKERING (NORWAY) AS 351.4 MNOK
- Viken at Market AS 336.1 MNOK
Only companies with at least 5 employees.
Profit and balance
Who earns the most, who loses the most, and who has the strongest balance sheet.
Highest operating margin
- Ferd Holding AS 99.9%
- Stenshagen Invest ASsubsidiary of Egil Stenshagen Holding AS 99.4%
- BERTEL O. Steen Holding AS 99.1%
- Rekap 1 ASsubsidiary of Reitan AS 96.8%
- Reitan AS 93.1%
Operating result divided by operating revenue.
Largest profit
- Ferd AS 5,400 MNOK
- Ferd Holding AS 5,348 MNOK
- Stenshagen Invest ASsubsidiary of Egil Stenshagen Holding AS 2,851 MNOK
- Circle K AS 2,850 MNOK
- Norgesgruppen ASA 2,389 MNOK
Profit before tax.
Largest loss
- Esso Norge AS −577 MNOK
- Plantasjen Norge AS −492 MNOK
- Helly Hansen AS −341 MNOK
- Molgas Norway AS −332 MNOK
- Maxbo AS −266 MNOK
Profit before tax, the largest negative.
Most solid
- Ferd Holding AS 98.4%
- Arrow Norway AS 96.8%
- Varner AS 94.4%
- Stenshagen Invest ASsubsidiary of Egil Stenshagen Holding AS 93.5%
- Ferd AS 92.1%
Equity ratio: equity divided by total assets.
Growth and movement
Who grows and falls the most in revenue, and who has climbed or fallen the most on the index since the year before.
Fastest growth
- Norwegian Energy Trading AS +4,448.7%
- Premium Cars Stor-Oslo AS +2,744.9%
- Eurobus Nordic AS +1,109.7%
- Zeekr Norway AS +785.1%
- Waynor Trading AS +685.9%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Scandinavian Fittings and Flanges AS −63.8%
- Reitan AS −51.6%
- Count Energy Trading AS −48.1%
- Nordisk Interactive AS −36.1%
- Sverdrup Steel AS −35.9%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP +33.6 points
- West-Norway AS +27.2 points
- Kia Bil Norge AS +26.9 points
- Grandahl Bil AS +23.3 points
- Circle K Detaljist AS +22.9 points
Change in index points from the year before.
Biggest fallers
- Meko Norway AS −36.5 points
- Eide Seafood AS −30.6 points
- Hewlett-Packard Norge AS −29.2 points
- Signify Norway AS −26.7 points
- Scanfish Norway AS −24.6 points
Change in index points from the year before.
The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.
Quadrant analysis
Positions in the sector · 2025 · Morning class Large
Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.
The chart and list show the 400 largest companies by revenue, of 541 in the class. Everyone is in the ranking. Full ranking
Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).
- Eide Seafood AS profitability 83 → 2, solidity 22 → 14
- Kvarøy Salmon AS profitability 84 → 7, solidity 3 → 2
- Scanfish Norway AS profitability 57 → 36, solidity 92 → 20
- Scandinavian Fittings and Flanges AS profitability 94 → 51, solidity 35 → 87
- RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP profitability 5 → 72, solidity 45 → 49
Lion · LeaderHigh profitability, high solidity
Cheetah · SprinterHigh profitability, lower solidity
Elephant · StewardLower profitability, high solidity
Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
The sector in numbers
Summary · fiscal year 2025 · Morning class Large
The sector's median operating margin is 2.5%. 2 of 541 companies have negative equity. The median equity ratio is 30.9%.
Companies with accounts541
Total revenue1,375,236 MNOK
Median operating margin2.5%
Median equity ratio30.9%
Share with a loss12%
Share with negative equity0%
All figures are for fiscal year 2025. Ranked: 541 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
The total counts each group once: 7 subsidiaries (31,393 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology
- 10 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 2% of the total.
Climbers and fallers · Morning class Large
Change in rank from 2024 to 2025, for 476 companies ranked in both years.
Climbers
- 311RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAPfrom rank 446 to 13561
- 259Kia Bil Norge ASfrom rank 435 to 17657
- 246Grandahl Bil ASfrom rank 400 to 15459
- 218West-Norway ASfrom rank 468 to 25051
- 208Blue Energy ASfrom rank 269 to 6170
Fallers
- 382Meko Norway ASfrom rank 79 to 46132
- 321Eide Seafood ASfrom rank 181 to 50225
- 307Signify Norway ASfrom rank 186 to 49328
- 268Scanfish Norway ASfrom rank 86 to 35444
- 260Response Nordic ASfrom rank 160 to 42038
Awards · 2025 · Morning class Large
Needs attention · 2025 · Morning class Large
167 companies show at least one warning sign. Showing the 15 most important.
- criticalFarmasiet ASNegative equity · Current ratio below 1 (0.56) · Loss before tax
- criticalBestdrive Norway ASNegative equity · Current ratio below 1 (0.58) · Loss before tax
- watchHofseth Sales ASVery low equity ratio (0.7%) · Current ratio below 1 (0.92) · Loss before tax
- watchNorth Sea Seafood ASVery low equity ratio (8.8%) · Current ratio below 1 (0.94) · Loss before tax
- watchMåsøval Sales ASVery low equity ratio (0.1%) · Current ratio below 1 (0.99) · Loss before tax
- watchKvarøy Salmon ASVery low equity ratio (0.7%) · Current ratio below 1 (0.90) · Loss before tax
- watchBilia Jlr Import Norway ASVery low equity ratio (0.6%) · Current ratio below 1 (0.92) · Loss before tax
- watchNorwegian Agro Machinery ASVery low equity ratio (6.7%) · Current ratio below 1 (0.89) · Loss before tax
- watchApotek 1 Gruppen ASVery low equity ratio (9.1%) · Current ratio below 1 (0.82)
- watchPower International ASVery low equity ratio (5.3%) · Current ratio below 1 (0.70)
- watchElkjøp Norge ASVery low equity ratio (8.6%) · Current ratio below 1 (0.93)
- watchCount Energy Trading ASVery low equity ratio (5.3%) · Loss before tax
- watchToyota Norge ASVery low equity ratio (0.4%) · Current ratio below 1 (0.98)
- watchH & M HENNES & Mauritz ASVery low equity ratio (9.3%) · Current ratio below 1 (0.79)
- watchKolly ASVery low equity ratio (6.8%) · Loss before tax
Sector map · 2025 · Morning class Large
Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.
The map shows the 400 largest companies by revenue, of 541 ranked. Everyone is in the ranking.
Show the map's figures as a table
| Company | Operating margin | Equity ratio | Revenue |
|---|---|---|---|
| Elkjøp Nordic AS | 0.9% | 18.6% | 39,834 MNOK |
| REMA Distribusjon Norge AS | 1.3% | 23.5% | 37,829 MNOK |
| Lerøy Seafood AS | 2.8% | 16.3% | 25,239 MNOK |
| Harald A Møller AS | 5.1% | 15.1% | 25,025 MNOK |
| Asko Sentrallager Kjøl AS | 1.1% | 22.3% | 20,669 MNOK |
| Apotek 1 Gruppen AS | 5.7% | 9.1% | 19,648 MNOK |
| Power International AS | 1.0% | 5.3% | 19,295 MNOK |
| Aktieselskapet Vinmonopolet | −1.7% | 18.5% | 18,707 MNOK |
| Tesla Norway AS | 1.5% | 8.4% | 18,627 MNOK |
| Asko Oslofjord AS | 0.9% | 44.4% | 18,094 MNOK |
| Asko Sentrallager og Transport AS | 0.1% | 20.3% | 16,974 MNOK |
| St1 Norge AS | 1.9% | 50.3% | 16,284 MNOK |
| Uno-X Mobility Norge AS | 1.7% | 21.2% | 15,660 MNOK |
| Esso Norge AS | −4.8% | 26.1% | 15,250 MNOK |
| Asko Oslo AS | 1.4% | 22.6% | 14,878 MNOK |
| North European Oil Trade AS | −0.8% | 3.7% | 14,821 MNOK |
| Circle K Norge AS | 2.3% | 59.3% | 14,013 MNOK |
| Elkjøp Norge AS | 0.6% | 8.6% | 13,864 MNOK |
| Bama Gruppen AS | −0.9% | 22.1% | 13,706 MNOK |
| Asko Vest AS | 1.4% | 34.8% | 13,208 MNOK |
| Alliance Healthcare Norge AS | 1.6% | 24.0% | 12,370 MNOK |
| Unil AS | 1.9% | 35.4% | 12,045 MNOK |
| Norsk Medisinaldepot AS | 4.3% | 24.8% | 11,907 MNOK |
| NG Kiwi Oslo Akershus AS | 3.4% | 35.9% | 11,879 MNOK |
| Optimera AS | −0.4% | 32.7% | 11,234 MNOK |
| Norsk Butikkdrift AS | 3.1% | 49.5% | 10,484 MNOK |
| Seaborn AS | 1.2% | 28.3% | 9,948 MNOK |
| Atea AS | 4.2% | 20.8% | 9,464 MNOK |
| Bama Dagligvare AS | 2.2% | 10.0% | 9,403 MNOK |
| Count Energy Trading AS | 0.1% | 5.3% | 9,288 MNOK |
| Bertel O Steen AS | −0.6% | 32.0% | 9,109 MNOK |
| Asko Hedmark AS | 1.5% | 37.6% | 9,092 MNOK |
| Europris Butikkdrift AS | 4.7% | 19.3% | 9,048 MNOK |
| IKEA AS | 2.7% | 17.8% | 8,887 MNOK |
| Bunker Oil AS | 1.2% | 43.0% | 8,884 MNOK |
| Mestergruppen Byggevare AS | 4.8% | 15.9% | 8,762 MNOK |
| Volvo Car Norway AS | 0.4% | 13.2% | 8,606 MNOK |
| Asko Rogaland AS | 1.3% | 44.4% | 8,367 MNOK |
| Power Norge AS | 1.9% | 23.3% | 8,350 MNOK |
| Ahlsell Norge AS | 1.6% | 35.9% | 8,303 MNOK |
| Asko Midt-Norge AS | −0.5% | 38.9% | 7,825 MNOK |
| Toyota Norge AS | 2.1% | 0.4% | 7,776 MNOK |
| GLANDER INTERNATIONAL BUNKERING (NORWAY) AS | 0.6% | 22.6% | 7,379 MNOK |
| Europris AS | 13.7% | 47.4% | 7,311 MNOK |
| Brødrene Dahl A/S | −0.1% | 34.4% | 7,127 MNOK |
| Asko Agder AS | 1.0% | 40.7% | 6,911 MNOK |
| NG Kiwi Innland AS | 4.1% | 43.7% | 6,890 MNOK |
| Asko Vestfold Telemark AS | 1.4% | 26.6% | 6,705 MNOK |
| Asko Øst AS | 0.4% | 38.5% | 6,670 MNOK |
| BMW Norge AS | 1.8% | 14.7% | 6,323 MNOK |
| Byggmakker Handel AS | −0.4% | 55.0% | 6,243 MNOK |
| Asko Nord AS | 0.5% | 55.3% | 6,203 MNOK |
| Grieg Seafood Sales AS | 3.0% | 3.6% | 6,163 MNOK |
| Polar Quality AS | −0.2% | 20.2% | 6,160 MNOK |
| Onninen AS | 3.7% | 45.5% | 6,153 MNOK |
| NG Meny Øst AS | 2.3% | 47.1% | 6,120 MNOK |
| BARE FRUKT & Grønt AS | 2.6% | 10.0% | 6,061 MNOK |
| Ferd AS | 91.8% | 92.1% | 6,059 MNOK |
| Preem Norge AS | 1.3% | 49.8% | 5,660 MNOK |
| Biltema Norge AS | 5.0% | 83.0% | 5,644 MNOK |
| Komplett Services AS | 3.1% | 16.8% | 5,613 MNOK |
| Hofseth Sales AS | 0.3% | 0.7% | 5,565 MNOK |
| RUTEBILEIERNES STANDARDISERINGSAKSJESELSKAP | 5.4% | 30.0% | 5,491 MNOK |
| Ford Motor Norge AS | 1.3% | 12.1% | 5,408 MNOK |
| NG Kiwi Vest AS | 3.1% | 49.0% | 5,382 MNOK |
| Ferd Holding AS | 99.9% | 98.4% | 5,350 MNOK |
| NG Kiwi Buskerud AS | 4.5% | 43.0% | 5,152 MNOK |
| Also AS | 2.8% | 21.3% | 5,065 MNOK |
| Alliance Healthcare Norge Apotekdrift AS | 0.8% | 42.3% | 4,995 MNOK |
| Travel Retail Norway AS | 0.3% | 16.8% | 4,916 MNOK |
| Nordlaks Sales AS | 2.5% | 23.4% | 4,893 MNOK |
| H.I. Giørtz Sønner AS | 1.4% | 64.1% | 4,846 MNOK |
| H & M HENNES & Mauritz AS | 4.2% | 9.3% | 4,845 MNOK |
| Kolly AS | −1.3% | 6.8% | 4,818 MNOK |
| Certas Energy Norway AS | 0.6% | 47.1% | 4,812 MNOK |
| Normal Norge AS | 9.0% | 31.7% | 4,795 MNOK |
| Coast Seafood AS | 2.0% | 60.6% | 4,752 MNOK |
| Gasum AS | 4.7% | 14.6% | 4,704 MNOK |
| Clas Ohlson AS | 4.2% | 39.0% | 4,695 MNOK |
| Sjor AS | 3.3% | 10.7% | 4,552 MNOK |
| Maxbo AS | −5.2% | 13.6% | 4,451 MNOK |
| Driv Energi AS | 1.8% | 10.1% | 4,293 MNOK |
| NG Kiwi Rogaland AS | 3.7% | 49.2% | 4,164 MNOK |
| Hedin Automotive Bavaria AS | 2.3% | 34.3% | 4,060 MNOK |
| NG Kiwi Vestfold Telemark AS | 3.4% | 51.4% | 4,040 MNOK |
| Oda Norway AS | −2.8% | 31.3% | 4,033 MNOK |
| Helly Hansen AS | 1.9% | 53.0% | 3,940 MNOK |
| NG Kiwi Øst AS | 3.0% | 52.4% | 3,818 MNOK |
| Volvo Maskin AS | 4.3% | 12.6% | 3,778 MNOK |
| YX Norge AS | 1.0% | 31.7% | 3,692 MNOK |
| Komplett Distribusjon AS | 0.7% | 43.6% | 3,673 MNOK |
| E.A. Smith AS | −2.6% | 22.0% | 3,645 MNOK |
| Arrow Ecs Norway AS | 2.6% | 24.8% | 3,567 MNOK |
| Norwegian Seafood AS | 0.1% | 10.1% | 3,538 MNOK |
| Novo Nordisk Norway AS | 3.5% | 0.5% | 3,471 MNOK |
| Jula Norge AS | 4.1% | 41.7% | 3,364 MNOK |
| Jysk AS | 9.8% | 17.7% | 3,344 MNOK |
| Sport Holding AS | 2.1% | 34.3% | 3,329 MNOK |
| Sekkingstad AS | 1.1% | 30.3% | 3,301 MNOK |
| Nor Seafoods AS | 2.0% | 15.5% | 3,200 MNOK |
| REMA Distribusjon Import AS | 1.6% | 30.9% | 3,188 MNOK |
| Nortømmer AS | −0.6% | 24.3% | 3,167 MNOK |
| Dustin Norway AS | −0.6% | 11.4% | 3,102 MNOK |
| NG Kiwi Agder AS | 3.6% | 50.0% | 3,067 MNOK |
| Asko Molde AS | 1.4% | 44.4% | 3,049 MNOK |
| Norwell AS | 1.9% | 23.6% | 3,040 MNOK |
| Berggård Amundsen & Co AS | 0.4% | 39.4% | 3,027 MNOK |
| Mondelez Norge AS | 2.1% | 30.5% | 2,973 MNOK |
| Air BP Norway AS | 1.1% | 52.5% | 2,929 MNOK |
| NG Kiwi Midt-Norge AS | 2.3% | 50.6% | 2,905 MNOK |
| British American Tobacco Norway AS | 32.3% | 6.4% | 2,898 MNOK |
| Stenshagen Invest AS | 99.4% | 93.5% | 2,884 MNOK |
| TD Synnex Norway AS | 0.2% | 12.7% | 2,871 MNOK |
| Solar Norge AS | −0.6% | 59.3% | 2,862 MNOK |
| Plantasjen Norge AS | −4.6% | 35.5% | 2,860 MNOK |
| Aviation Fuelling Services Norway AS | 4.7% | 16.4% | 2,853 MNOK |
| Eikmaskin AS | 3.8% | 13.1% | 2,835 MNOK |
| Bergen Bunkers AS | 0.6% | 32.9% | 2,784 MNOK |
| Zeppelin Construction Equipment Norway AS | 0.6% | 22.2% | 2,703 MNOK |
| North Sea Seafood AS | −1.4% | 8.8% | 2,692 MNOK |
| Volvo Car Stor-Oslo AS | 2.2% | 21.2% | 2,660 MNOK |
| Tools AS | 2.7% | 52.9% | 2,638 MNOK |
| Rusta Retail AS | 4.9% | 37.2% | 2,612 MNOK |
| Schneider Electric Norge AS | 5.8% | 18.0% | 2,596 MNOK |
| Dell AS | 1.1% | 4.9% | 2,594 MNOK |
| Møller Bil Trøndelag AS | 2.7% | 15.0% | 2,546 MNOK |
| Firda Seafood AS | 4.5% | 21.7% | 2,544 MNOK |
| Cubus AS | 8.0% | 61.6% | 2,536 MNOK |
| Asko Oppland AS | 0.6% | 36.6% | 2,501 MNOK |
| Swedish Match Sales Norway AS | 17.9% | 0.3% | 2,469 MNOK |
| Kid Interiør AS | 12.2% | 14.7% | 2,436 MNOK |
| Bama Storkjøkken AS | 6.3% | 22.7% | 2,433 MNOK |
| XPENG MOTORS (NORWAY) AS | 1.6% | 4.0% | 2,425 MNOK |
| Måsøval Sales AS | 0.2% | 0.1% | 2,414 MNOK |
| Malorama AS | 1.0% | 23.5% | 2,411 MNOK |
| NG Meny Vest AS | 2.7% | 45.7% | 2,394 MNOK |
| Reitan Retail AS | 83.3% | 45.0% | 2,318 MNOK |
| Hewlett-Packard Norge AS | −0.4% | 8.6% | 2,317 MNOK |
| Megaflis AS | 0.5% | 42.9% | 2,301 MNOK |
| Bravo Seafood AS | 1.2% | 15.7% | 2,281 MNOK |
| Voice Norge AS | 7.1% | 18.0% | 2,271 MNOK |
| Heidenreich AS | −9.2% | 37.3% | 2,238 MNOK |
| Mrc Global Norway AS | 15.4% | 50.0% | 2,215 MNOK |
| Møller Bil Romerike AS | 0.7% | 15.1% | 2,197 MNOK |
| Toyota Bilia AS | 2.4% | 35.8% | 2,194 MNOK |
| Nergård Seafood AS | 1.5% | 7.1% | 2,192 MNOK |
| Modino AS | 0.9% | 21.9% | 2,165 MNOK |
| Sulland Auto AS | 3.7% | 26.7% | 2,162 MNOK |
| Essity Norway AS | 13.4% | 6.4% | 2,161 MNOK |
| Ineos Sales Norge AS | 0.3% | 21.0% | 2,158 MNOK |
| Fjordland AS | 6.5% | 48.7% | 2,134 MNOK |
| Bil i Nord AS | 3.5% | 26.3% | 2,131 MNOK |
| Meko Norway AS | 1.2% | 10.9% | 2,091 MNOK |
| Bohus Logistikk AS | 0.5% | 8.0% | 2,085 MNOK |
| K. Ekrheim AS | 1.5% | 50.1% | 2,075 MNOK |
| Storcash Norge AS | 3.1% | 43.0% | 2,072 MNOK |
| Mester Grønn AS | 3.8% | 54.5% | 2,039 MNOK |
| Orkla Health AS | −2.4% | 52.1% | 2,024 MNOK |
| Polestar Automotive Norway AS | 1.5% | 16.8% | 2,024 MNOK |
| Ark Bokhandel AS | 3.8% | 31.6% | 2,016 MNOK |
| Reitan AS | 93.1% | 91.1% | 2,004 MNOK |
| Norli AS | 4.7% | 24.0% | 1,984 MNOK |
| Bayer AS | 29.6% | 35.6% | 1,951 MNOK |
| Norwegian Energy Trading AS | 1.4% | 37.3% | 1,946 MNOK |
| Bohus Butikkdrift AS | 8.0% | 64.1% | 1,935 MNOK |
| Würth Norge AS | −2.9% | 62.9% | 1,891 MNOK |
| Certas Energy Fuels AS | 0.0% | 33.4% | 1,863 MNOK |
| Lyreco Norge AS | −1.4% | 35.6% | 1,862 MNOK |
| Neumann Bygg AS | −2.9% | 17.8% | 1,837 MNOK |
| Gausdal Landhandleri AS | −0.3% | 48.4% | 1,812 MNOK |
| Nokian Dekk AS | 2.7% | 19.3% | 1,799 MNOK |
| Eide Seafood AS | −4.3% | 11.0% | 1,798 MNOK |
| Nille AS | 2.9% | 43.6% | 1,772 MNOK |
| Imperial Brands Norway AS | 5.6% | 1.1% | 1,770 MNOK |
| Platina Seafood AS | 1.1% | 18.9% | 1,759 MNOK |
| NG Kiwi Nord AS | 0.9% | 64.0% | 1,757 MNOK |
| Circle K Detaljist AS | 6.8% | 7.1% | 1,752 MNOK |
| Sport Holding Retail AS | 5.7% | 44.3% | 1,747 MNOK |
| NG Meny Østlandet AS | 1.1% | 65.3% | 1,745 MNOK |
| Kia Bil Norge AS | 4.2% | 24.8% | 1,742 MNOK |
| Dressmann A/S | 15.0% | 47.8% | 1,704 MNOK |
| Dagligvare Gruppen Tromsø AS | 3.2% | 45.0% | 1,696 MNOK |
| NG Kiwi Møre AS | 3.6% | 78.4% | 1,694 MNOK |
| Viken at Market AS | 0.6% | 6.2% | 1,680 MNOK |
| Kappahl AS | 10.0% | 20.6% | 1,678 MNOK |
| Ocean Supreme AS | 1.7% | 27.6% | 1,665 MNOK |
| Star Seafood AS | 0.9% | 20.5% | 1,665 MNOK |
| AS NESTLÉ NORGE | 2.1% | 2.7% | 1,663 MNOK |
| Stim AS | 5.8% | 49.8% | 1,656 MNOK |
| NG Meny Vestfold Telemark AS | −0.1% | 78.0% | 1,645 MNOK |
| Norgesgruppen Data AS | 2.0% | 37.4% | 1,636 MNOK |
| Norwegian Mobility Group AS | 1.9% | 22.0% | 1,634 MNOK |
| Autoria Bil AS | 0.8% | 14.2% | 1,617 MNOK |
| EQOLOGY.NO AS | 21.8% | 41.1% | 1,614 MNOK |
| Elektroimportøren Norge AS | 1.2% | 15.6% | 1,597 MNOK |
| Akershus Traktor A/S | −0.7% | 20.0% | 1,593 MNOK |
| BERTEL O. Steen Holding AS | 99.1% | 81.8% | 1,590 MNOK |
| Vianor AS | 2.5% | 34.1% | 1,585 MNOK |
| Kjosavik AS | 1.4% | 46.4% | 1,574 MNOK |
| Porsche Norge AS | 1.6% | 42.9% | 1,563 MNOK |
| Norwegian Seafood Company AS | 2.1% | 40.8% | 1,560 MNOK |
| Stora Enso Skog AS | 0.2% | 26.2% | 1,560 MNOK |
| Lindex AS | 3.0% | 61.7% | 1,543 MNOK |
| Hesselberg AS | 5.2% | 19.6% | 1,541 MNOK |
| Fram Seafood AS | 0.7% | 20.9% | 1,540 MNOK |
| Bristol-Myers Squibb Norway AS | 3.3% | 50.4% | 1,519 MNOK |
| Tenaris Global Services Norway AS | 4.6% | 18.8% | 1,518 MNOK |
| Ventistål AS | 4.6% | 48.4% | 1,509 MNOK |
| Kicks Norge AS | 3.7% | 44.2% | 1,502 MNOK |
| Synsam Group Norway AS | 9.9% | 31.3% | 1,498 MNOK |
| Harlem Food AS | 5.2% | 47.5% | 1,494 MNOK |
| Molgas Norway AS | −22.1% | 60.5% | 1,494 MNOK |
| NK Energi AS | 1.0% | 39.9% | 1,488 MNOK |
| Zeppelin Power Systems Norway AS | 8.7% | 15.2% | 1,484 MNOK |
| Villa Seafood AS | 2.9% | 40.0% | 1,481 MNOK |
| Maske AS | 5.7% | 38.4% | 1,474 MNOK |
| Havi Logistics AS | 0.0% | 2.0% | 1,461 MNOK |
| Sverdrup Steel AS | 8.0% | 76.7% | 1,458 MNOK |
| Circle K AS | −11.4% | 53.5% | 1,451 MNOK |
| Janssen-Cilag AS | 4.6% | 0.1% | 1,413 MNOK |
| Lenovo Global Technology Norway AS | 2.3% | 4.9% | 1,406 MNOK |
| Novartis Norge AS | 4.1% | 66.8% | 1,402 MNOK |
| Servicegrossisten Øst AS | 2.8% | 30.5% | 1,392 MNOK |
| Ice Seafood AS | 2.9% | 13.7% | 1,390 MNOK |
| Eplehuset Norge AS | −0.3% | 34.3% | 1,371 MNOK |
| Skeidar Supply Chain AS | 0.4% | 1.5% | 1,370 MNOK |
| Veso AS | 1.0% | 23.9% | 1,364 MNOK |
| Knapphus Energi AS | 1.4% | 29.2% | 1,350 MNOK |
| Vartdal Plastindustri AS | 2.4% | 21.2% | 1,348 MNOK |
| FREDRIK & Louisa AS | 2.1% | 27.7% | 1,345 MNOK |
| Nasta AS | 2.1% | 37.7% | 1,342 MNOK |
| Kraemer Maritime AS | 0.9% | 23.6% | 1,338 MNOK |
| Baxt AS | 5.0% | 13.8% | 1,338 MNOK |
| Tess Vest AS | 5.6% | 58.4% | 1,336 MNOK |
| NG Meny Sør AS | 0.4% | 60.0% | 1,318 MNOK |
| HAUGEN - Gruppen AS | 5.8% | 36.9% | 1,316 MNOK |
| BERTEL O. STEEN TRUCKS & Buses AS | 4.4% | 36.9% | 1,313 MNOK |
| NG Kiwi Romsdal og Nordmøre AS | 4.8% | 58.2% | 1,305 MNOK |
| L'oreal Norge AS | 5.5% | 11.3% | 1,283 MNOK |
| AS BLOMSTERRINGEN ENGROS | 0.8% | 50.0% | 1,277 MNOK |
| Norgesdekk AS | 14.4% | 24.6% | 1,275 MNOK |
| Glaxosmithkline AS | 3.0% | 28.0% | 1,264 MNOK |
| Fresenius Kabi Norge AS | 23.0% | 44.0% | 1,263 MNOK |
| Zaptec Charger AS | 2.9% | 9.0% | 1,250 MNOK |
| Electrolux Home Products Norway AS | 1.7% | 7.0% | 1,249 MNOK |
| Kitch'n AS | 6.2% | 32.0% | 1,246 MNOK |
| Norgesgruppen Øst AS | 0.7% | 88.8% | 1,240 MNOK |
| Helgø Meny Rogaland AS | −0.8% | 58.6% | 1,236 MNOK |
| Continental Dekk Norge AS | 3.3% | 1.2% | 1,223 MNOK |
| Emerson Automation Solutions AS | 8.1% | 18.4% | 1,218 MNOK |
| Autoringen Oslo AS | 0.3% | 12.2% | 1,216 MNOK |
| Namron AS | 5.7% | 20.8% | 1,211 MNOK |
| NG Meny Buskerud AS | 0.4% | 57.9% | 1,211 MNOK |
| Eurosko Gruppen AS | 3.8% | 50.5% | 1,210 MNOK |
| Kvarøy Salmon AS | −2.8% | 0.7% | 1,208 MNOK |
| Vita Group AS | 4.3% | 29.0% | 1,190 MNOK |
| Vinhuset AS | −4.1% | 29.3% | 1,189 MNOK |
| Motek AS | 3.9% | 52.1% | 1,184 MNOK |
| Hedin Performance Cars AS | −2.5% | 38.7% | 1,184 MNOK |
| Møller Bil Bruktbil AS | −5.6% | 15.2% | 1,173 MNOK |
| Rekap 1 AS | 96.8% | 72.5% | 1,166 MNOK |
| Tmc Compressors AS | 25.8% | 65.0% | 1,160 MNOK |
| Arrow Norway AS | 4.3% | 96.8% | 1,147 MNOK |
| West-Norway AS | 3.0% | 25.3% | 1,146 MNOK |
| Texcon AS | 0.4% | 37.3% | 1,146 MNOK |
| Lyko AS | 2.4% | 15.6% | 1,144 MNOK |
| Thansen AS | 4.9% | 40.0% | 1,144 MNOK |
| Astrazeneca AS | 2.2% | 73.8% | 1,135 MNOK |
| Bestseller AS | 3.7% | 22.7% | 1,133 MNOK |
| Musti Norge AS | 3.0% | 29.3% | 1,122 MNOK |
| Tess Nord AS | 4.7% | 69.9% | 1,119 MNOK |
| Nordic Wildfish Sales AS | 2.7% | 25.8% | 1,118 MNOK |
| Active Brands AS | 0.9% | 65.3% | 1,115 MNOK |
| HP Norge AS | 0.8% | 39.0% | 1,113 MNOK |
| NG Spar Innland AS | 0.9% | 60.4% | 1,104 MNOK |
| Nordic Group AS | 0.7% | 23.5% | 1,101 MNOK |
| Bama Storkjøkken Oslo AS | 6.0% | 21.1% | 1,096 MNOK |
| Oskar Pedersen AS | 4.8% | 32.1% | 1,095 MNOK |
| Westcoast AS | 1.1% | 38.0% | 1,094 MNOK |
| Flogas Norge AS | 4.8% | 45.2% | 1,090 MNOK |
| SNUSHJEM.NO AS | 0.5% | 12.7% | 1,086 MNOK |
| Pfizer AS | 1.9% | 39.5% | 1,075 MNOK |
| Tess Logistikk AS | 3.8% | 20.5% | 1,066 MNOK |
| Astrup AS | 2.6% | 63.2% | 1,058 MNOK |
| Ice Fish AS | 1.8% | 31.4% | 1,057 MNOK |
| Oluf Lorentzen AS | 3.8% | 54.5% | 1,057 MNOK |
| LORENTZ STORESUND & Sønner AS | 2.2% | 29.3% | 1,056 MNOK |
| Msd Animal Health Norge AS | 2.2% | 11.0% | 1,056 MNOK |
| Princess-Gruppen AS | 0.8% | 70.6% | 1,055 MNOK |
| Sjøfrisk Norge AS | 4.3% | 16.3% | 1,053 MNOK |
| Kid Sourcing AS | −0.1% | 0.3% | 1,052 MNOK |
| NG Spar Øst AS | 0.7% | 64.0% | 1,048 MNOK |
| Starco Norge AS | 12.5% | 31.4% | 1,040 MNOK |
| J A Magnussen Engros AS | 9.0% | 72.8% | 1,039 MNOK |
| Canon Norge AS | −1.0% | 37.6% | 1,034 MNOK |
| Mhservice AS | 2.1% | 35.9% | 1,027 MNOK |
| Ikm Flux AS | 6.1% | 33.8% | 1,025 MNOK |
| Farmasiet AS | −0.1% | −8.4% | 1,022 MNOK |
| Jernia Detalj AS | 0.5% | 30.9% | 1,016 MNOK |
| Outlet Group AS | 2.2% | 2.8% | 1,012 MNOK |
| WULFF & CO AS | 2.1% | 9.8% | 1,012 MNOK |
| Medtronic Norge AS | 3.6% | 58.1% | 1,007 MNOK |
| Siemens Healthcare AS | 8.6% | 24.2% | 1,007 MNOK |
| Inditex Norge AS | 11.6% | 14.8% | 999 MNOK |
| Home Brands AS | 4.2% | 40.1% | 999 MNOK |
| Takeda AS | 5.8% | 62.0% | 995 MNOK |
| Wenaas Workwear AS | 9.6% | 45.2% | 995 MNOK |
| Jæger Sentrum AS | 2.2% | 36.5% | 989 MNOK |
| BR Karlsen Sales AS | 0.3% | 2.2% | 985 MNOK |
| John Deere Forestry AS | 3.7% | 35.7% | 984 MNOK |
| Red Bull Norway AS | 9.9% | 19.9% | 976 MNOK |
| Jernia AS | 0.8% | 53.0% | 976 MNOK |
| BLIVAKKER.NO AS | 5.4% | 20.3% | 973 MNOK |
| Fritzøe Engros AS | 4.6% | 71.4% | 970 MNOK |
| Sunde Eps AS | 0.4% | 34.3% | 958 MNOK |
| Mento AS | 4.3% | 49.8% | 953 MNOK |
| Toyota Romerike AS | 2.6% | 29.4% | 953 MNOK |
| Eaton Electric AS | 2.2% | 45.9% | 953 MNOK |
| Servi AS | 1.3% | 48.9% | 941 MNOK |
| Get Inspired AS | 7.8% | 33.9% | 933 MNOK |
| NORGESFÔR AS | 1.5% | 28.2% | 926 MNOK |
| AS SPAR KJØP | −8.2% | 45.6% | 925 MNOK |
| Blue Energy AS | 2.8% | 56.8% | 914 MNOK |
| Toyota Sørvest AS | 1.3% | 18.4% | 913 MNOK |
| NG Meny Østfold AS | −0.1% | 57.3% | 911 MNOK |
| Gina Tricot AS | 2.5% | 10.1% | 901 MNOK |
| I K Lykke Drift AS | 19.5% | 58.7% | 898 MNOK |
| Norcar AS | 4.8% | 2.8% | 893 MNOK |
| Lindbak Interiør AS | 2.5% | 32.2% | 888 MNOK |
| Abk-Qviller AS | −0.2% | 62.5% | 885 MNOK |
| VB Handel AS | 0.9% | 7.8% | 877 MNOK |
| United Bakeries Norway AS | 6.1% | 38.5% | 877 MNOK |
| Fjellsport AS | 4.0% | 39.7% | 877 MNOK |
| NG Spar Vest AS | 0.2% | 77.4% | 873 MNOK |
| 3M Norge AS | 3.1% | 42.7% | 871 MNOK |
| Rørkjøp AS | −1.3% | 19.3% | 871 MNOK |
| Lerøy Norge AS | 1.6% | 47.6% | 870 MNOK |
| Xylem Water Solutions Norge AS | 2.9% | 13.3% | 870 MNOK |
| Scanfish Norway AS | 1.3% | 15.1% | 868 MNOK |
| Premium Cars Stor-Oslo AS | 3.5% | 20.2% | 866 MNOK |
| Exclusive Networks Norway AS | 2.8% | 2.0% | 863 MNOK |
| Geia Food AS | 5.7% | 33.8% | 860 MNOK |
| Tavex Gull og Sølv AS | 3.4% | 21.7% | 859 MNOK |
| Mars Norge AS | 27.3% | 3.6% | 854 MNOK |
| Barnas Hus Norge AS | 2.0% | 21.4% | 848 MNOK |
| Sulland Drammen AS | 2.2% | 30.6% | 848 MNOK |
| Bama Blomster Sourcing AS | 1.2% | 15.5% | 846 MNOK |
| Bilia Jlr Import Norway AS | 0.7% | 0.6% | 844 MNOK |
| Xl-Bygg Sørvest AS | 0.3% | 36.4% | 843 MNOK |
| Sanofi-Aventis Norge AS | 4.0% | 3.3% | 836 MNOK |
| Bestdrive Norway AS | −7.8% | −50.2% | 836 MNOK |
| Tess Øst AS | 6.5% | 71.8% | 836 MNOK |
| Johs Olsen AS | 5.3% | 38.0% | 829 MNOK |
| Varner AS | 3.4% | 94.4% | 827 MNOK |
| Ndi Norge AS | 5.3% | 31.7% | 824 MNOK |
| Kinly AS | 5.9% | 9.5% | 820 MNOK |
| Proshop AS | 3.5% | 2.4% | 819 MNOK |
| Låssenteret AS | 5.3% | 44.0% | 811 MNOK |
| SN Seafood AS | 1.5% | 59.5% | 810 MNOK |
| Foxway AS | −4.1% | 29.7% | 805 MNOK |
| Hydroscand AS | 10.4% | 58.1% | 804 MNOK |
| Otto Olsen AS | 18.1% | 39.4% | 803 MNOK |
| MSD (NORGE) AS | 3.9% | 14.6% | 803 MNOK |
| Rituals Cosmetics Norway AS | 7.7% | 52.7% | 802 MNOK |
| Scandinavian Fittings and Flanges AS | 3.3% | 59.1% | 791 MNOK |
| Karo Pharma AS | 24.6% | 60.6% | 790 MNOK |
| Jæren Olje AS | 1.2% | 14.3% | 787 MNOK |
| Dekkteam AS | 1.6% | 56.6% | 780 MNOK |
| MØLLER SPORTSBILER ASKER & Bærum AS | −0.5% | 23.6% | 779 MNOK |
| Møller Sportsbiler Oslo AS | −2.5% | 35.4% | 779 MNOK |
| Artec Aqua Vaq AS | 0.9% | 10.8% | 777 MNOK |
| Run AS | 18.0% | 45.7% | 776 MNOK |
| Orifarm Healthcare AS | 1.3% | 2.3% | 773 MNOK |
| NG Meny Midt-Norge AS | 4.2% | 29.8% | 773 MNOK |
| Roche Norge AS | 2.5% | 29.3% | 771 MNOK |
| Harila AS | 1.9% | 25.3% | 771 MNOK |
| Norwegian Agro Machinery AS | −7.9% | 6.7% | 770 MNOK |
| Bertel O Steen Møre og Romsdal AS | −1.5% | 35.8% | 765 MNOK |
| Oljeleverandøren AS | 2.2% | 22.5% | 762 MNOK |
| Clariant Oil Services Scandinavia AS | 8.9% | 28.9% | 760 MNOK |
| Daikin Airconditioning Norway AS | 3.0% | 33.3% | 759 MNOK |
| Delaval AS | 3.5% | 6.2% | 758 MNOK |
| Idé Group AS | 3.8% | 50.2% | 756 MNOK |
| Abbvie AS | 5.5% | 47.7% | 754 MNOK |
| Toyota Østfold AS | 2.0% | 27.0% | 751 MNOK |
| A/S SØRENSEN OG BALCHEN | 17.7% | 26.4% | 750 MNOK |
| Alfa Laval Nordic AS | 1.5% | 81.3% | 750 MNOK |
| Jungheinrich Norge AS | 5.5% | 24.4% | 749 MNOK |
| Midt-Norge Maskinsenter AS | 3.9% | 18.9% | 745 MNOK |
| Orica Norway AS | −7.5% | 84.7% | 744 MNOK |
| Driv Energi Midt-Norge AS | 2.8% | 23.1% | 744 MNOK |
| Urmaker Bjerke AS | 6.3% | 31.4% | 743 MNOK |
| Holdbart AS | 4.1% | 32.6% | 739 MNOK |
| Tess Sør AS | 3.8% | 52.6% | 735 MNOK |
| Airport Retail Norway AS | 3.6% | 22.0% | 734 MNOK |
| Hallgruppen AS | 7.0% | 29.8% | 733 MNOK |
| Måkestad Engros AS | 4.0% | 6.0% | 732 MNOK |
| D. Danielsen AS | 2.1% | 27.4% | 729 MNOK |
| DR. Oetker Norge AS | 6.9% | 24.4% | 726 MNOK |
| Bilpaviljongen AS | 0.4% | 15.1% | 724 MNOK |
Holding and investment companies · 2025
2,177 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 901 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Bats Holding AS | 99 | 100.0% | 76.9% | – | 109 MNOK |
| 2 | Vikingstad Holding AS | 97 | 100.0% | 75.6% | 578.94 | 21 MNOK |
| 3 | Gran Olsen Holding AS | 96 | 99.8% | 83.6% | 819.80 | 15 MNOK |
| 4 | Ida Invest AS | 95 | 99.8% | 95.5% | 495.61 | 16 MNOK |
| 5 | Østrem Invest AS | 95 | 100.0% | 42.1% | 3,301.02 | 47 MNOK |
| 6 | Adepto Holding AS | 94 | 99.8% | 67.9% | 301.97 | 72 MNOK |
| 7 | Erst Holding AS | 94 | 99.9% | 40.2% | 1,372.24 | 19 MNOK |
| 8 | Heum Holding AS | 93 | 99.8% | 48.9% | 312.12 | 10 MNOK |
| 9 | Montebello Vinselskap og Invest AS | 93 | 99.7% | 56.2% | – | 24 MNOK |
| 10 | Harstad Bil Holding AS | 93 | 99.7% | 55.1% | 323.79 | 21 MNOK |
| 11 | Mediå Holding AS | 91 | 99.5% | 92.7% | 119.28 | 39 MNOK |
| 12 | Crux Holding AS | 91 | 99.7% | 39.0% | 334.51 | 14 MNOK |
| 13 | Elba Holding AS | 91 | 99.7% | 51.7% | 183.77 | 32 MNOK |
| 14 | Clifton Holding AS | 91 | 99.6% | 54.0% | 228.79 | 19 MNOK |
| 15 | Isrand Invest AS | 91 | 100.0% | 27.7% | – | 16 MNOK |
| 16 | Faro Invest AS | 91 | 99.6% | 44.5% | 241.69 | 11 MNOK |
| 17 | Nicolaisen Invest AS | 91 | 99.6% | 40.7% | 323.20 | 222 MNOK |
| 18 | Ls&S Holding AS | 91 | 99.7% | 36.3% | 505.49 | 110 MNOK |
| 19 | Fridom Holding AS | 90 | 99.6% | 44.1% | 194.52 | 22 MNOK |
| 20 | Fiskeruta Holding AS | 90 | 99.4% | 58.3% | 190.77 | 13 MNOK |
Show all 100
Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology
In our articles
- Finance earns 58.3% on operations; the typical Norwegian industry makes 5.7%No. 22 of 22 on median operating margin
Scenario analysis: the sector's weakest year
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.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2016 | 14.9% | −59.5% |
| 2017 | 3.7% | −53.9% |
| 2018 | 13.3% | −34.0% |
| 2019 | – | – |
| 2020 | – | – |
| 2021 | 14.9% | 48.0% |
| 2022 · weakest year | 1.5% | 19.7% |
| 2023 | 2.9% | 34.2% |
| 2024 | 2.7% | 34.0% |
| 2025 | 3.0% | 33.5% |
| 2026 | 4.3% | 29.1% |
In 2022, 122 ranked companies did better than the sector, 51 about the same and 116 weaker.
Held up best in 2022
- 1Maritim Gruppen ASequity ratio 63.9%92.4%
- 2Core Subsea ASequity ratio 80.1%73.9%
- 3Tesa ASequity ratio 32.0%47.0%
- 4RETAIL & Branding ASequity ratio 13.6%41.5%
- 5Pascal Wear ASequity ratio 40.5%39.8%
- 6Samirc Norge ASequity ratio 51.2%36.5%
- 7Flexifiks ASequity ratio 53.9%34.9%
- 8Oslo Frimerke- og Myntauksjoner ASequity ratio 33.8%32.5%
- 9Seven Agency ASequity ratio 80.5%31.6%
- 10La Cosmetica ASequity ratio 74.7%31.2%
Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology
Drivers in the sector
Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.
Consumer price index (indeks (2025 = 100))
Latest value: 104.0 (2026M09)
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| Sector's median operating margin | 14.9% | 1.5% | 2.9% | 2.7% | 3.0% | 4.3% |
Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026
Policy rate (prosent)
Latest value: 4.50 (2026-10)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| Sector's median operating margin | 14.9% | 1.5% | 2.9% | 2.7% | 3.0% | 4.3% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026
When policy rate fell in 2025, 11,296 of 22,000 ranked companies kept their operating margin at or above the year before. Among the largest: Elkjøp Nordic AS (−0.2% → 0.9%), Lerøy Seafood AS (2.4% → 2.8%), Harald A Møller AS (4.2% → 5.1%), Asko Sentrallager Kjøl AS (0.8% → 1.1%), Power International AS (−0.6% → 1.0%).
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
The sector in Norway (SSB)
The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.
Enterprises, employment and turnover · 2024
- Enterprises
- 48,396
- −2.2% from 2023
- Persons employed
- 384,188
- −0.6% from 2023
- Turnover
- NOK 2,381.9 bn
- +1.6% from 2023
- Gross operating margin
- 3.7%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
574 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −22.2% against the four quarters before (738). That is about 11.9 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 6.2%
- Share of persons employed
- 25.1%
- Share of turnover
- 32.0%
SSB publishes this for groups of industries only. The figures are for the group “Varehandel, reparasjon av motorvogner”.
Retail and wholesale index, volume · Varehandel, reparasjon av motorvogner
95.7 index, 2021 = 100, seasonally adjusted · 2026M09
+3.1% against 2025M09.
Monthly, 2023M09 to 2026M09.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 07129. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.
Latest bankruptcies and liquidations
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Industry codes (NACE)
| Code | Description |
|---|---|
| 45* | Hele hovedgruppe 45 |
| 46* | Engroshandel (hele hovedgruppen) |
| 46.110 | Agenturhandel med jordbruksråvarer, levende dyr, tekstilråvarer og halvfabrikater |
| 46.120 | Agenturhandel med brensel, drivstoff, malm, metaller og industrikjemikalier |
| 46.130 | Agenturhandel med tømmer, trelast og byggevarer |
| 46.140 | Agenturhandel med maskiner, produksjonsutstyr, båter og luftfartøy |
| 46.150 | Agenturhandel med møbler, husholdningsvarer og jernvarer |
| 46.160 | Agenturhandel med tekstiler, klær, pelsskinn, skotøy og lærvarer |
| 46.170 | Agenturhandel med nærings- og nytelsesmidler |
| 46.180 | Agenturhandel med spesialisert vareutvalg ellers |
| 46.190 | Agenturhandel med bredt vareutvalg |
| 46.210 | Engroshandel med korn, råtobakk, såvarer og fôrvarer |
| 46.220 | Engroshandel med blomster og planter |
| 46.230 | Engroshandel med levende dyr |
| 46.240 | Engroshandel med huder, skinn og lær |
| 46.310 | Engroshandel med frukt og grønnsaker |
| 46.321 | Engroshandel med kjøtt og kjøttvarer |
| 46.322 | Engroshandel med fisk, skalldyr og bløtdyr |
| 46.330 | Engroshandel med meierivarer, egg, matolje og -fett |
| 46.340 | Engroshandel med drikkevarer |
| 46.350 | Engroshandel med tobakksvarer |
| 46.360 | Engroshandel med sukker, sjokolade og sukkervarer |
| 46.370 | Engroshandel med kaffe, te, kakao og krydder |
| 46.380 | Engroshandel med andre næringsmidler |
| 46.390 | Engroshandel med bredt utvalg av nærings- og nytelsesmidler |
| 46.410 | Engroshandel med tekstiler og utstyrsvarer |
| 46.420 | Engroshandel med klær og skotøy |
| 46.430 | Engroshandel med elektriske husholdningsapparater |
| 46.440 | Engroshandel med kjøkkenutstyr av porselen, glass og steintøy og rengjøringsmidler |
| 46.450 | Engroshandel med parfyme og kosmetikk |
| 46.460 | Engroshandel med apotekvarer og medisinske varer |
| 46.470 | Engroshandel med husholdnings-, kontor- og butikkmøbler, gulvtepper og belysningsutstyr |
| 46.480 | Engroshandel med klokker, ur og smykker |
| 46.490 | Engroshandel med andre husholdningsvarer |
| 46.500 | Engroshandel med informasjons- og kommunikasjonsteknologiutstyr |
| 46.610 | Engroshandel med maskiner og utstyr til jordbruk og skogbruk |
| 46.620 | Engroshandel med maskinverktøy |
| 46.630 | Engroshandel med maskiner og utstyr til bergverksdrift, olje- og gassutvinning og bygge- og anleggsvirksomhet |
| 46.640 | Engroshandel med maskiner og utstyr ellers |
| 46.710 | Engroshandel med motorvogner |
| 46.720 | Engroshandel med deler og utstyr for motorvogner |
| 46.730 | Engroshandel med motorsykler og tilhørende deler og utstyr |
| 46.810 | Engroshandel med drivstoff, brensel og beslektede produkter |
| 46.820 | Engroshandel med metaller og metallholdig malm |
| 46.830 | Engroshandel med tømmer, trelast, byggevarer og sanitærutstyr |
| 46.840 | Engroshandel med jernvarer, rørleggerartikler og oppvarmingsutstyr |
| 46.850 | Engroshandel med kjemiske produkter |
| 46.860 | Engroshandel med innsatsvarer ellers |
| 46.870 | Engroshandel med avfall og skrap |
| 46.890 | Engroshandel med spesialisert vareutvalg ikke nevnt annet sted |
| 46.900 | Uspesifisert engroshandel |
| 47* | Detaljhandel (hele hovedgruppen) |
| 47.110 | Detaljhandel med bredt vareutvalg med hovedvekt på nærings- og nytelsesmidler |
| 47.120 | Detaljhandel med bredt vareutvalg ellers |
| 47.210 | Detaljhandel med frukt og grønnsaker |
| 47.220 | Detaljhandel med kjøtt og kjøttvarer |
| 47.230 | Detaljhandel med fisk, skalldyr og bløtdyr |
| 47.240 | Detaljhandel med bakervarer, konditorvarer og sukkervarer |
| 47.250 | Detaljhandel med drikkevarer |
| 47.260 | Detaljhandel med tobakksvarer |
| 47.270 | Detaljhandel med nærings- og nytelsesmidler ellers |
| 47.300 | Detaljhandel med drivstoff til motorvogner |
| 47.400 | Detaljhandel med informasjons- og kommunikasjonsteknologiutstyr |
| 47.510 | Detaljhandel med tekstiler og utstyrsvarer |
| 47.520 | Detaljhandel med jernvarer, byggevarer, fargevarer og glass |
| 47.530 | Detaljhandel med tapet, gulvtepper og gulvbelegg |
| 47.540 | Detaljhandel med elektriske husholdningsapparater |
| 47.551 | Detaljhandel med møbler, gjelder også madrasser |
| 47.552 | Detaljhandel med belysningsartikler |
| 47.553 | Detaljhandel med husholdningsredskaper og bestikk, servise, glassvarer, porselen og keramikk |
| 47.559 | Detaljhandel med innredningsartikler ikke nevnt annet sted |
| 47.610 | Detaljhandel med bøker |
| 47.620 | Detaljhandel med aviser og papirvarer |
| 47.631 | Detaljhandel med sportsvarer |
| 47.632 | Detaljhandel med fritidsbåter og tilhørende utstyr |
| 47.640 | Detaljhandel med spill og leker |
| 47.690 | Detaljhandel med kulturvarer ikke nevnt annet sted |
| 47.710 | Detaljhandel med klær |
| 47.720 | Detaljhandel med skotøy og lærvarer |
| 47.730 | Detaljhandel med apotekvarer |
| 47.740 | Detaljhandel med medisinske og ortopediske artikler |
| 47.750 | Detaljhandel med kosmetikk og toalettartikler |
| 47.761 | Detaljhandel med blomster, planter, gjødsel og plantevernmidler |
| 47.762 | Detaljhandel med kjæledyr og varer til kjæledyr |
| 47.770 | Detaljhandel med ur, klokker og smykker |
| 47.780 | Annen detaljhandel med andre nye varer |
| 47.790 | Detaljhandel med brukte varer |
| 47.810 | Detaljhandel med motorvogner |
| 47.820 | Detaljhandel med deler og utstyr til motorvogner |
| 47.830 | Detaljhandel med motorsykler og tilhørende deler og utstyr |
| 47.910 | Formidlingstjenester tilknyttet detaljhandel med bredt vareutvalg |
| 47.920 | Formidlingstjenester tilknyttet detaljhandel med spesialisert vareutvalg |