Sector

1,952 companies ranked against comparable companies in four Morning company classes. Fiscal year 2023. Source: Brønnøysund Register Centre. Methodology

Ranking · 2023 · Morning class Large

Morning class Large · 2023
#CompanyProfileScoreChangeFive years
1 Aleris Helse AS Leader 86 –
2 Stendi AS Leader 82 –
3 Evidia Norge AS Leader 72 –
4 AS MED-LAB Leader 71 –
5 Unilabs Norge AS Leader 70 –
6 Norsk Luftambulanse AS Leader 66 –
7 Oris Dental AS Leader 60 –
8 Hero Norge AS Sprinter 60 –
9 Diakonhjemmet Sykehus AS Steward 59 –
10 Haraldsplass Diakonale Sykehus AS Steward 57 –
11 Lovisenberg Diakonale Sykehus AS Steward 57 –
12 Prima Assistanse AS Sprinter 56 –
13 Ecura BO og Habilitering AS Sprinter 48 –
14 DR Furst Medisinsk Laboratorium AS Sprinter 47 –
15 ABERIA OMSORG & Assistanse AS Sprinter 46 –
16 Colosseumklinikken AS Sprinter 43 –
17 Helse Vest IKT AS Builder 41 –
18 Volvat Medisinske Senter AS Steward 32 –
19 Lovisenberg Omsorg AS Builder 21 –
20 Falck Norge AS Builder 17 –
21 Avonova Helse AS Builder 11 –
22 Avincis Aviation Norway AS Builder 10 –
23 Diakonhjemmet Omsorg AS Builder 10 –

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

Climbers and fallers need at least two fiscal years with a score. Coming when next year's figures are fetched.

Top lists in the sector · 2023 · Morning class Large

The five largest companies account for 43% of the sector's revenue. Combined profit before tax for the 23 ranked companies: 725 MNOK.

Size

The largest by revenue and employees, and who earns the most per employee.

Highest revenue

  1. Lovisenberg Diakonale Sykehus AS 2,786 MNOK
  2. Diakonhjemmet Sykehus AS 2,692 MNOK
  3. Stendi AS 2,391 MNOK
  4. Helse Vest IKT AS 1,769 MNOK
  5. Oris Dental AS 1,747 MNOK

Operating revenue.

Most employees

  1. Stendi AS 4,724
  2. Lovisenberg Diakonale Sykehus AS 2,848
  3. Ecura BO og Habilitering AS 2,831
  4. Prima Assistanse AS 2,512
  5. Diakonhjemmet Sykehus AS 2,274

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. DR Furst Medisinsk Laboratorium AS 25.5 MNOK
  2. Avincis Aviation Norway AS 4.9 MNOK
  3. Norsk Luftambulanse AS 4.3 MNOK
  4. Aleris Helse AS 2.4 MNOK
  5. Unilabs Norge AS 2.1 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

  1. Hero Norge AS 14.3%
  2. Oris Dental AS 11.6%
  3. Unilabs Norge AS 10.6%
  4. Evidia Norge AS 9.8%
  5. DR Furst Medisinsk Laboratorium AS 9.2%

Operating result divided by operating revenue.

Largest profit

  1. Stendi AS 215 MNOK
  2. Aleris Helse AS 152 MNOK
  3. DR Furst Medisinsk Laboratorium AS 131 MNOK
  4. Hero Norge AS 126 MNOK
  5. Oris Dental AS 106 MNOK

Profit before tax.

Largest loss

  1. Volvat Medisinske Senter AS −156 MNOK
  2. Avincis Aviation Norway AS −135 MNOK
  3. Falck Norge AS −64 MNOK
  4. Avonova Helse AS −51 MNOK
  5. Helse Vest IKT AS −4 MNOK

Profit before tax, the largest negative.

Most solid

  1. Aleris Helse AS 59.9%
  2. Evidia Norge AS 56.8%
  3. Lovisenberg Diakonale Sykehus AS 47.1%
  4. Stendi AS 46.2%
  5. Volvat Medisinske Senter AS 46.1%

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

No company meets the requirement this year.

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

No company meets the requirement this year.

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

Requires an index for two financial years.

Change in index points from the year before.

Biggest fallers

Requires an index for two financial years.

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 · 2023 · 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.

Bubble size shows relative revenue, not exact figures.

  • 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
CompanyProfileProfitabilitySolidityIn 2022 (profitability / solidity)
Hero Norge ASCheetah10031–
Oris Dental ASLion9351–
DR Furst Medisinsk Laboratorium ASCheetah8926–
Evidia Norge ASLion8095–
Aleris Helse ASLion80100–
AS MED-LABLion7761–
Stendi ASLion7085–
Unilabs Norge ASLion7066–
Norsk Luftambulanse ASLion6456–
Prima Assistanse ASCheetah6136–
Ecura BO og Habilitering ASCheetah5546–
Colosseumklinikken ASCheetah5212–
ABERIA OMSORG & Assistanse ASCheetah5041–
Helse Vest IKT ASBeaver4122–
Haraldsplass Diakonale Sykehus ASElephant3671–
Lovisenberg Omsorg ASBeaver340–
Lovisenberg Diakonale Sykehus ASElephant2790–
Diakonhjemmet Sykehus ASElephant2575–
Diakonhjemmet Omsorg ASBeaver187–
Volvat Medisinske Senter ASElephant1180–
Avonova Helse ASBeaver90–
Avincis Aviation Norway ASBeaver50–
Falck Norge ASBeaver217–
The sector in numbers

Summary · fiscal year 2023 · Morning class Large

The sector's median operating margin is 3.9%. 3 of 23 companies have negative equity. The median equity ratio is 23.1%.

Companies with accounts23
Total revenue26,782 MNOK
Median operating margin3.9%
Median equity ratio23.1%
Share with a loss22%
Share with negative equity13%

All figures are for fiscal year 2023. Ranked: 23 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

  • Growth is not included in the index: it needs the previous year's accounts.

Climbers and fallers · Morning class Large

Climbers need at least two fiscal years. They appear once next year's accounts are fetched or history is imported.

Awards · 2023 · Morning class Large

Most profitableHero Norge AS14.3%
Strongest balance sheetAleris Helse AS59.9%
Largest revenueLovisenberg Diakonale Sykehus AS2,786 MNOK
Highest revenue per employeeDR Furst Medisinsk Laboratorium AS25.5 MNOK

Needs attention · 2023 · Morning class Large

14 companies show at least one warning sign. Showing the 14 most important.

Sector map · 2023 · 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.

−10%−5%0%5%10%0%10%20%30%40%Operating margin (profitability) →Equity ratio (solidity) →Lovisenberg Diakonale Sykehus AS: operating margin 0.9%, equity ratio 47.1%, rank 11Diakonhjemmet Sykehus AS: operating margin 0.3%, equity ratio 45.4%, rank 9Stendi AS: operating margin 7.2%, equity ratio 46.2%, rank 2Helse Vest IKT AS: operating margin 3.9%, equity ratio 7.0%, rank 17Oris Dental AS: operating margin 11.6%, equity ratio 33.1%, rank 7Colosseumklinikken AS: operating margin 4.9%, equity ratio 2.6%, rank 16Aleris Helse AS: operating margin 9.1%, equity ratio 59.9%, rank 1Haraldsplass Diakonale Sykehus AS: operating margin 1.4%, equity ratio 42.1%, rank 10Ecura BO og Habilitering AS: operating margin 3.0%, equity ratio 23.1%, rank 13Volvat Medisinske Senter AS: operating margin −9.2%, equity ratio 46.1%, rank 18DR Furst Medisinsk Laboratorium AS: operating margin 9.2%, equity ratio 8.9%, rank 14Norsk Luftambulanse AS: operating margin 8.2%, equity ratio 34.3%, rank 6Hero Norge AS: operating margin 14.3%, equity ratio 11.5%, rank 8AS MED-LAB: operating margin 7.6%, equity ratio 37.5%, rank 4Avincis Aviation Norway AS: operating margin −16.2%, equity ratio −2.6%, rank 22Lovisenberg Omsorg AS: operating margin 0.8%, equity ratio −1.4%, rank 19Falck Norge AS: operating margin −10.4%, equity ratio 2.7%, rank 20Avonova Helse AS: operating margin −8.5%, equity ratio −12.7%, rank 21Unilabs Norge AS: operating margin 10.6%, equity ratio 38.0%, rank 5Evidia Norge AS: operating margin 9.8%, equity ratio 56.8%, rank 3Prima Assistanse AS: operating margin 4.0%, equity ratio 12.7%, rank 12Diakonhjemmet Omsorg AS: operating margin −5.3%, equity ratio 0.9%, rank 23ABERIA OMSORG & Assistanse AS: operating margin 1.5%, equity ratio 20.0%, rank 15
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Aleris Helse AS9.1%59.9%1,562 MNOK
Stendi AS7.2%46.2%2,391 MNOK
Evidia Norge AS9.8%56.8%564 MNOK
AS MED-LAB7.6%37.5%803 MNOK
Unilabs Norge AS10.6%38.0%607 MNOK
Norsk Luftambulanse AS8.2%34.3%923 MNOK
Oris Dental AS11.6%33.1%1,747 MNOK
Hero Norge AS14.3%11.5%888 MNOK
Diakonhjemmet Sykehus AS0.3%45.4%2,692 MNOK
Haraldsplass Diakonale Sykehus AS1.4%42.1%1,251 MNOK
Lovisenberg Diakonale Sykehus AS0.9%47.1%2,786 MNOK
Prima Assistanse AS4.0%12.7%548 MNOK
Ecura BO og Habilitering AS3.0%23.1%1,154 MNOK
DR Furst Medisinsk Laboratorium AS9.2%8.9%944 MNOK
ABERIA OMSORG & Assistanse AS1.5%20.0%512 MNOK
Colosseumklinikken AS4.9%2.6%1,570 MNOK
Helse Vest IKT AS3.9%7.0%1,769 MNOK
Volvat Medisinske Senter AS−9.2%46.1%952 MNOK
Lovisenberg Omsorg AS0.8%−1.4%660 MNOK
Falck Norge AS−10.4%2.7%625 MNOK
Avonova Helse AS−8.5%−12.7%614 MNOK
Avincis Aviation Norway AS−16.2%−2.6%673 MNOK
Diakonhjemmet Omsorg AS−5.3%0.9%547 MNOK

Holding and investment companies · 2023

82 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: 24 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1Nhf Holding AS95 99.9%145.7% 479.8912 MNOK
2Coperio Holding AS90 98.3%63.7% 773.39201 MNOK
3Ylvind Holding AS81 100.0%17.6% 15,518.1015 MNOK
4Akval Invest AS76 89.8%60.7% 4.8318 MNOK
5Minster Holding AS72 89.4%42.2% 8.9511 MNOK
6Endre Hodneland Holding AS63 87.0%29.3% 5.8611 MNOK
7Rundhaug Holding AS56 100.0%−0.2% 308.2412 MNOK
8Clh Holding AS54 58.4%56.0% 2.2117 MNOK
9Aukland Holding AS52 86.5%13.6% 7.0032 MNOK
10J S Holding AS51 88.3%9.1% 6.6751 MNOK
11Nevrokiro Holding AS50 97.0%1.5% 32.6221 MNOK
12Mare Holding AS48 65.4%23.7% 2.6212 MNOK
13Fewi Holding AS47 28.5%91.0% 1.4014 MNOK
14Efraim Holding AS46 58.0%40.1% 1.7915 MNOK
15BJØRN J. Hansen Holding AS46 69.6%6.1% 32.5928 MNOK
16Gatty Holding AS40 49.8%49.8% 0.0410 MNOK
17Børseth Invest AS39 54.0%28.4% 1.2212 MNOK
18Rosenberg Holding AS37 67.3%15.9% 0.2217 MNOK
19Evjeklinikken Holding AS33 60.5%1.7% 13.9021 MNOK
20Fürst Holding AS31 76.7%4.1% 1.001,876 MNOK
Show all 24
RankCompanyScoreTotal assets
21Carlsten Holding AS2915 MNOK
22Pepper Holding AS2432 MNOK
23Link Holding AS2323 MNOK
24Oris Dental Holding AS172,081 MNOK

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

All articles

Scenario analysis: the sector's weakest year

The sector's weakest year was 2026, with a median operating margin of −10.4%.

Based on the 6 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2021––
20224.7%29.3%
20237.3%42.1%
20246.9%43.7%
20256.2%43.9%
2026 · weakest year−10.4%10.8%

In 2026, 0 ranked companies did better than the sector, 1 about the same and 0 weaker.

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 fell 0.7 percentage points.

Consumer price index per year and the sector's median operating margin
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0102.9 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+2.9%
Sector's median operating margin–4.7%7.3%6.9%6.2%−10.4%

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 fell 0.7 percentage points.

Policy rate per year and the sector's median operating margin
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (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–4.7%7.3%6.9%6.2%−10.4%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026

When policy rate fell in 2025, 947 of 1,996 ranked companies kept their operating margin at or above the year before. Among the largest: Lovisenberg Diakonale Sykehus AS (1.9% → 2.4%), Diakonhjemmet Sykehus AS (1.5% → 2.8%), Aleris Helse AS (11.9% → 13.7%), Ecura BO og Habilitering AS (4.6% → 6.2%), Lovisenberg Omsorg AS (−3.0% → 0.1%).

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
39,697
+0.7% from 2023
Persons employed
127,429
+1.3% from 2023
Turnover
NOK 140.5 bn
+7.0% from 2023
Gross operating margin
22.7%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it.

Bankruptcies in the industry

54 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change +20.0% against the four quarters before (45). That is about 1.4 per 1,000 enterprises.

122024K462025K1122025K2152025K3222025K4112026K1132026K282026K3

Source: Statistics Norway (SSB), table 12910, table 10790. 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

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
86*Hele hovedgruppe 86
86.101Somatiske sykehustjenester
86.102Psykiatriske sykehustjenester for voksne
86.103Spesialisert rusbehandling
86.104Psykiatriske sykehustjenester for barn og ungdom
86.210Allmennlegetjenester
86.221Spesialiserte legetjenester, unntatt psykiatriske legetjenester
86.222Psykiatriske legetjenester
86.230Tannlegetjenester
86.910Medisinske laboratorietjenester og bildediagnostikk
86.921Ambulansetransport unntatt luftambulanse
86.922Luftambulansetransport med fly eller helikopter
86.930Psykolog- og psykoterapitjenester, unntatt legetjenester innenfor psykiatri
86.941Sykepleietjenester og andre helsetjenester i hjemmet
86.942Helsestasjons- og skolehelsetjenester
86.950Fysioterapi- og ergoterapitjenester
86.960Aktiviteter innenfor tradisjonell, komplementær og alternativ medisin
86.970Formidlingstjenester tilknyttet lege-, tannlegetjenester og andre helsetjenester
86.991Ortopedi- og fotterapitjenester
86.992Forebyggende helsearbeid
86.993Andre helsetjenester ellers
87*Hele hovedgruppe 87
87.101Tjenester i spesialinstitusjon innenfor helse- og omsorg
87.102Sykehjemstjenester
87.104Tjenester i avlastningsboliger/-institusjoner
87.106Helse- og omsorgstjenester i bofelleskap, samlokaliserte omsorgsboliger og lignende
87.201Omsorgstjenester i botilbud for personer med psykiske helseproblemer og/eller rusmiddelproblemer
87.202Omsorgstjenester i botilbud for personer med utviklingshemming eller med tilsvarende funksjonsnedsettelse
87.300Omsorgstjenester i botilbud for eldre eller personer med fysisk funksjonsnedsettelse
87.991Tjenester i barneverninstitusjoner
87.992Asylmottakstjenester
87.999Andre botilbud innenfor sosiale tjenester ikke nevnt annet sted
88*Hele hovedgruppe 88
88.101Praktisk bistand i hjemmet
88.102Dagaktivitetstilbud tilpasset målgrupper
88.103Tjenester i seniorsentre
88.104Brukerstyrt personlig assistanse (bpa)
88.105Avlastning utenfor institusjon
88.106Støttekontakt- og besøkstjeneste
88.910Dagaktivitetstilbud for barn
88.991Barneverntjenester
88.992Familieverntjenester
88.993Arbeidstrening og varig tilrettelagt arbeid
88.994Velferdstjenester til sårbare grupper
88.996Andre sosialtjenester uten botilbud ellers