Sector

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1,978 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 Zenitel Norway AS Leader 91 –
2 Evry Card Services AS Leader 86 –
3 Space Norway Satcom AS Leader 85 –
4 Signicat AS Leader 85 –
5 Aize AS Leader 83 –
6 Discovery Networks Norway AS Leader 82 –
7 Abax AS Leader 80 –
8 Kongsberg Satellite Services AS Leader 75 –
9 Thales Norway AS Leader 74 –
10 Allente Norge AS Leader 73 –
11 Cegal AS Leader 71 –
12 Mastercard Payment Services Norway AS Steward 70 –
13 Amedia AS Leader 68 –
14 Green Mountain AS Leader 68 –
15 Haugaland Kraft Fiber AS Leader 68 –
16 Intility AS Sprinter 67 –
17 Bouvet Norge AS Sprinter 65 –
18 Onitio Solutions Norge AS Leader 65 –
19 Opera Norway AS Leader 63 –
20 Viaplay Group Norway AS Leader 63 –
21 Microsoft Development Center Norway AS Steward 63 –
22 Advania Norge AS Leader 62 –
23 Webstep AS Sprinter 62 –
24 Stø AS Steward 62 –
25 Remarkable ASsubsidiary of Remarkable Invest AS Sprinter 61 –
26 Vivicta AS Steward 60 –
27 Bergen Fiber AS Leader 60 –
28 Volue Technology AS Leader 59 –
29 Ifs Norge AS Steward 58 –
30 TV 2 AS Steward 58 –
31 Aftenposten AS Sprinter 57 –
32 Omega 365 Norway ASsubsidiary of Omega AS Sprinter 57 –
33 SAP Norge AS Steward 57 –
34 Mnemonic AS Steward 56 –
35 Eidsiva Digital AS Steward 56 –
36 Navtor AS Leader 55 –
37 Computas AS Steward 55 –
38 Poweroffice AS Sprinter 54 –
39 Tieto Banktech Norway AS Steward 54 –
40 Visma Enterprise AS Sprinter 54 –
41 Aller Media AS Steward 53 –
42 Visma Software AS Sprinter 52 –
43 NTE Telekom AS Leader 52 –
44 Gyldendal Norsk Forlag AS Builder 51 –
45 KAHOOT! AS Steward 51 –
46 Cappelen Damm AS Steward 51 –
47 Kleri 1 AS Sprinter 51 –
48 Itera Norge AS Sprinter 49 –
49 Quorum Software Norway AS Sprinter 49 –
50 Cisco Systems Norway AS Sprinter 49 –

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 37% of the sector's revenue. Combined profit before tax for the 100 ranked companies: 15,610 MNOK.

Size

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

Highest revenue

  1. Telenor Norge AS 25,975 MNOK
  2. Microsoft Norge AS 18,471 MNOK
  3. Telia Norge AS 14,652 MNOK
  4. Norsk Rikskringkasting AS 6,432 MNOK
  5. TV 2 AS 5,812 MNOK

Operating revenue.

Most employees

  1. Norsk Rikskringkasting AS 4,106
  2. Sopra Steria AS 3,674
  3. Telenor Norge AS 2,723
  4. Bouvet Norge AS 2,271
  5. Telia Norge AS 1,719

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. Microsoft Norge AS 71.6 MNOK
  2. Allente Norge AS 52.1 MNOK
  3. Opera Norway AS 32.5 MNOK
  4. Telenor Towers Norway AS 28.4 MNOK
  5. Kyndryl Services AS 26.9 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. Amedia AS 56.9%
  2. Poweroffice AS 42.6%
  3. Space Norway Satcom AS 41.0%
  4. Aize AS 35.3%
  5. Tripletex AS 30.6%

Operating result divided by operating revenue.

Largest profit

  1. Telenor Norge AS 4,234 MNOK
  2. Telia Norge AS 1,867 MNOK
  3. Green Mountain AS 913 MNOK
  4. Microsoft Norge AS 880 MNOK
  5. Telenor Towers Norway AS 655 MNOK

Profit before tax.

Largest loss

  1. Lyse Tele ASsubsidiary of Lyse AS −912 MNOK
  2. Cognite AS −543 MNOK
  3. Falkor AS −516 MNOK
  4. Globalconnect AS −270 MNOK
  5. Orange Business Digital Norway AS −263 MNOK

Profit before tax, the largest negative.

Most solid

  1. Microsoft Development Center Norway AS 93.4%
  2. Stø AS 87.5%
  3. Signicat AS 87.3%
  4. KAHOOT! AS 85.2%
  5. Mastercard Payment Services Norway AS 76.2%

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.

Telenor Norge AS: 75 / 15Microsoft Norge AS: 39 / 0Telia Norge AS: 59 / 33Norsk Rikskringkasting AS: 13 / 59TV 2 AS: 32 / 63Sopra Steria AS: 75 / 18Vivicta AS: 19 / 72Tieto Banktech Norway AS: 14 / 92Remarkable AS: 66 / 43Tieto Norway AS: 57 / 67Bouvet Norge AS: 79 / 41Accenture AS: 52 / 29Capgemini Norge AS: 60 / 30Allente Norge AS: 72 / 91Lyse Tele AS: 7 / 35Opera Norway AS: 83 / 61Telenor Towers Norway AS: 77 / 8Advania Norge AS: 61 / 70Viken Fiber AS: 67 / 42Telenor Linx AS: 64 / 24Verdens Gang AS: 21 / 65Globalconnect AS: 14 / 49Experis AS: 13 / 54Kongsberg Satellite Services AS: 75 / 87Omega 365 Consulting AS: 51 / 25Rikstv AS: 40 / 2Cegal AS: 69 / 71Visma Enterprise AS: 87 / 46Ericsson AS: 47 / 16Visma Software AS: 93 / 11Aftenposten AS: 74 / 27Intility AS: 83 / 39Cisco Systems Norway AS: 72 / 20SAP Norge AS: 36 / 60Schibsted Media AS: 23 / 83Stø AS: 40 / 99Discovery Networks Norway AS: 63 / 94Microsoft Datacenter Norway AS: 45 / 40Cappelen Damm AS: 32 / 57Tripletex AS: 97 / 1CGI Norge AS: 6 / 77Conscia Norge AS: 52 / 21Orange Business Digital Norway AS: 20 / 36IBM Norge AS: 62 / 32Bekk Consulting AS: 84 / 9Netnordic Norway AS: 54 / 22Viaplay Group Norway AS: 63 / 74Mnemonic AS: 49 / 58Eidsiva Digital AS: 18 / 80Zenitel Norway AS: 93 / 86Space Norway Satcom AS: 93 / 88Falkor AS: 2 / 79KAHOOT! AS: 47 / 97Gyldendal Norsk Forlag AS: 47 / 45Cognite AS: 1 / 62Softwareone AS: 97 / 4Visma Software International AS: 8 / 34Webstep AS: 67 / 47Kyndryl Norway AS: 24 / 82Aller Media AS: 21 / 95Ifs Norge AS: 39 / 52Thales Norway AS: 64 / 68Computas AS: 44 / 53Pexip AS: 2 / 3Quorum Software Norway AS: 63 / 28Kyndryl Services AS: 53 / 10Navtor AS: 51 / 55NTE Telekom AS: 60 / 75Mastercard Payment Services Norway AS: 20 / 96Microsoft Development Center Norway AS: 7 / 100Orkla IT AS: 21 / 38Volue Technology AS: 63 / 64Signicat AS: 62 / 98Story House Egmont AS: 14 / 12Evry Card Issuing AS: 95 / 5Aize AS: 92 / 90Lyse AS: 13 / 17Itera Norge AS: 71 / 37Entur AS: 32 / 23Telenor Maritime AS: 69 / 6Evry Card Services AS: 87 / 78Dips AS: 29 / 51Poweroffice AS: 97 / 7Haugaland Kraft Fiber AS: 74 / 76Crayon Group AS: 43 / 26Evidi AS: 8 / 81Netsecurity AS: 25 / 73Dagens Næringsliv AS: 25 / 31Bitdeer Norway AS: 73 / 14Abax AS: 79 / 93Omega 365 Norway AS: 54 / 44Amedia AS: 70 / 84Bergen Fiber AS: 66 / 85Kleri 1 AS: 68 / 48Move AS: 40 / 13Møller Digital AS: 19 / 19Onitio Solutions Norge AS: 59 / 56Netcompany Norway AS: 5 / 69Green Mountain AS: 73 / 89Q-Free Norge AS: 19 / 6600252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers
Telenor Norge AS: 75 / 15Microsoft Norge AS: 39 / 0Telia Norge AS: 59 / 33Norsk Rikskringkasting AS: 13 / 59TV 2 AS: 32 / 63Sopra Steria AS: 75 / 18Vivicta AS: 19 / 72Tieto Banktech Norway AS: 14 / 92Remarkable AS: 66 / 43Tieto Norway AS: 57 / 67Bouvet Norge AS: 79 / 41Accenture AS: 52 / 29Capgemini Norge AS: 60 / 30Allente Norge AS: 72 / 91Lyse Tele AS: 7 / 35Opera Norway AS: 83 / 61Telenor Towers Norway AS: 77 / 8Advania Norge AS: 61 / 70Viken Fiber AS: 67 / 42Telenor Linx AS: 64 / 24Verdens Gang AS: 21 / 65Globalconnect AS: 14 / 49Experis AS: 13 / 54Kongsberg Satellite Services AS: 75 / 87Omega 365 Consulting AS: 51 / 25Rikstv AS: 40 / 2Cegal AS: 69 / 71Visma Enterprise AS: 87 / 46Ericsson AS: 47 / 16Visma Software AS: 93 / 11Aftenposten AS: 74 / 27Intility AS: 83 / 39Cisco Systems Norway AS: 72 / 20SAP Norge AS: 36 / 60Schibsted Media AS: 23 / 83Stø AS: 40 / 99Discovery Networks Norway AS: 63 / 94Microsoft Datacenter Norway AS: 45 / 40Cappelen Damm AS: 32 / 57Tripletex AS: 97 / 1CGI Norge AS: 6 / 77Conscia Norge AS: 52 / 21Orange Business Digital Norway AS: 20 / 36IBM Norge AS: 62 / 32Bekk Consulting AS: 84 / 9Netnordic Norway AS: 54 / 22Viaplay Group Norway AS: 63 / 74Mnemonic AS: 49 / 58Eidsiva Digital AS: 18 / 80Zenitel Norway AS: 93 / 86Space Norway Satcom AS: 93 / 88Falkor AS: 2 / 79KAHOOT! AS: 47 / 97Gyldendal Norsk Forlag AS: 47 / 45Cognite AS: 1 / 62Softwareone AS: 97 / 4Visma Software International AS: 8 / 34Webstep AS: 67 / 47Kyndryl Norway AS: 24 / 82Aller Media AS: 21 / 95Ifs Norge AS: 39 / 52Thales Norway AS: 64 / 68Computas AS: 44 / 53Pexip AS: 2 / 3Quorum Software Norway AS: 63 / 28Kyndryl Services AS: 53 / 10Navtor AS: 51 / 55NTE Telekom AS: 60 / 75Mastercard Payment Services Norway AS: 20 / 96Microsoft Development Center Norway AS: 7 / 100Orkla IT AS: 21 / 38Volue Technology AS: 63 / 64Signicat AS: 62 / 98Story House Egmont AS: 14 / 12Evry Card Issuing AS: 95 / 5Aize AS: 92 / 90Lyse AS: 13 / 17Itera Norge AS: 71 / 37Entur AS: 32 / 23Telenor Maritime AS: 69 / 6Evry Card Services AS: 87 / 78Dips AS: 29 / 51Poweroffice AS: 97 / 7Haugaland Kraft Fiber AS: 74 / 76Crayon Group AS: 43 / 26Evidi AS: 8 / 81Netsecurity AS: 25 / 73Dagens Næringsliv AS: 25 / 31Bitdeer Norway AS: 73 / 14Abax AS: 79 / 93Omega 365 Norway AS: 54 / 44Amedia AS: 70 / 84Bergen Fiber AS: 66 / 85Kleri 1 AS: 68 / 48Move AS: 40 / 13Møller Digital AS: 19 / 19Onitio Solutions Norge AS: 59 / 56Netcompany Norway AS: 5 / 69Green Mountain AS: 73 / 89Q-Free Norge AS: 19 / 6600252550507575100100Solidity, percentile against peers →↑ Profitability, percentile against peers

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)
Softwareone ASCheetah974–
Poweroffice ASCheetah977–
Tripletex ASCheetah971–
Evry Card Issuing ASCheetah955–
Zenitel Norway ASLion9386–
Visma Software ASCheetah9311–
Space Norway Satcom ASLion9388–
Aize ASLion9290–
Evry Card Services ASLion8778–
Visma Enterprise ASCheetah8746–
Bekk Consulting ASCheetah849–
Opera Norway ASLion8361–
Intility ASCheetah8339–
Abax ASLion7993–
Bouvet Norge ASCheetah7941–
Telenor Towers Norway ASCheetah778–
Sopra Steria ASCheetah7518–
Kongsberg Satellite Services ASLion7587–
Telenor Norge ASCheetah7515–
Haugaland Kraft Fiber ASLion7476–
Aftenposten ASCheetah7427–
Bitdeer Norway ASCheetah7314–
Green Mountain ASLion7389–
Allente Norge ASLion7291–
Cisco Systems Norway ASCheetah7220–
Itera Norge ASCheetah7137–
Amedia ASLion7084–
Telenor Maritime ASCheetah696–
Cegal ASLion6971–
Kleri 1 ASCheetah6848–
Viken Fiber ASCheetah6742–
Webstep ASCheetah6747–
Remarkable ASCheetah6643–
Bergen Fiber ASLion6685–
Thales Norway ASLion6468–
Telenor Linx ASCheetah6424–
Discovery Networks Norway ASLion6394–
Volue Technology ASLion6364–
Viaplay Group Norway ASLion6374–
Quorum Software Norway ASCheetah6328–
Signicat ASLion6298–
IBM Norge ASCheetah6232–
Advania Norge ASLion6170–
NTE Telekom ASLion6075–
Capgemini Norge ASCheetah6030–
Onitio Solutions Norge ASLion5956–
Telia Norge ASCheetah5933–
Tieto Norway ASLion5767–
Omega 365 Norway ASCheetah5444–
Netnordic Norway ASCheetah5422–
The sector in numbers

Summary · fiscal year 2023 · Morning class Large

The sector's median operating margin is 5.8%. 0 of 100 companies have negative equity. The median equity ratio is 31.4%.

Companies with accounts100
Total revenue192,656 MNOK
Median operating margin5.8%
Median equity ratio31.4%
Share with a loss26%
Share with negative equity0%

All figures are for fiscal year 2023. Ranked: 100 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.
  • 3 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 4% of the total.

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 profitableAmedia AS56.9%
Strongest balance sheetMicrosoft Development Center Norway AS93.4%
Largest revenueTelenor Norge AS25,975 MNOK
Highest revenue per employeeMicrosoft Norge AS71.6 MNOK

Needs attention · 2023 · Morning class Large

56 companies show at least one warning sign. Showing the 15 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.

−20%−10%0%10%20%30%0%20%40%60%Operating margin (profitability) →Equity ratio (solidity) →Telenor Norge AS: operating margin 18.1%, equity ratio 13.9%, rank 85Microsoft Norge AS: operating margin 4.3%, equity ratio 4.1%, rank 93Telia Norge AS: operating margin 17.9%, equity ratio 23.5%, rank 69Norsk Rikskringkasting AS: operating margin −2.7%, equity ratio 35.6%, rank 73TV 2 AS: operating margin 1.4%, equity ratio 37.2%, rank 30Sopra Steria AS: operating margin 9.4%, equity ratio 15.2%, rank 53Vivicta AS: operating margin 0.2%, equity ratio 43.4%, rank 26Tieto Banktech Norway AS: operating margin −2.0%, equity ratio 62.3%, rank 39Remarkable AS: operating margin 8.5%, equity ratio 28.3%, rank 25Tieto Norway AS: operating margin 7.9%, equity ratio 38.6%, rank 58Bouvet Norge AS: operating margin 12.3%, equity ratio 26.7%, rank 17Accenture AS: operating margin 4.0%, equity ratio 19.2%, rank 52Capgemini Norge AS: operating margin 5.5%, equity ratio 20.6%, rank 67Allente Norge AS: operating margin 10.7%, equity ratio 61.9%, rank 10Lyse Tele AS: operating margin −15.1%, equity ratio 24.0%, rank 79Opera Norway AS: operating margin 10.2%, equity ratio 36.7%, rank 19Telenor Towers Norway AS: operating margin 26.7%, equity ratio 11.7%, rank 86Advania Norge AS: operating margin 6.4%, equity ratio 40.8%, rank 22Viken Fiber AS: operating margin 24.1%, equity ratio 27.7%, rank 59Telenor Linx AS: operating margin 4.6%, equity ratio 16.8%, rank 65Verdens Gang AS: operating margin −0.1%, equity ratio 37.8%, rank 55Globalconnect AS: operating margin −2.2%, equity ratio 31.1%, rank 98Experis AS: operating margin −2.1%, equity ratio 32.6%, rank 66Kongsberg Satellite Services AS: operating margin 21.3%, equity ratio 60.7%, rank 8Omega 365 Consulting AS: operating margin 3.6%, equity ratio 16.9%, rank 57Rikstv AS: operating margin 3.4%, equity ratio 4.2%, rank 95Cegal AS: operating margin 7.6%, equity ratio 42.7%, rank 11Visma Enterprise AS: operating margin 18.6%, equity ratio 29.2%, rank 40Ericsson AS: operating margin 3.8%, equity ratio 13.9%, rank 78Visma Software AS: operating margin 27.8%, equity ratio 12.1%, rank 42Aftenposten AS: operating margin 8.9%, equity ratio 18.3%, rank 31Intility AS: operating margin 15.0%, equity ratio 25.6%, rank 16Cisco Systems Norway AS: operating margin 8.1%, equity ratio 15.9%, rank 50SAP Norge AS: operating margin 3.0%, equity ratio 36.7%, rank 33Schibsted Media AS: operating margin −3.6%, equity ratio 57.0%, rank 81Stø AS: operating margin 6.4%, equity ratio 87.5%, rank 24Discovery Networks Norway AS: operating margin 10.3%, equity ratio 66.7%, rank 6Microsoft Datacenter Norway AS: operating margin 7.8%, equity ratio 25.6%, rank 84Cappelen Damm AS: operating margin 1.9%, equity ratio 34.6%, rank 46Tripletex AS: operating margin 30.6%, equity ratio 4.2%, rank 60CGI Norge AS: operating margin −7.8%, equity ratio 49.7%, rank 75Conscia Norge AS: operating margin 4.8%, equity ratio 16.0%, rank 63Orange Business Digital Norway AS: operating margin 1.0%, equity ratio 24.3%, rank 96IBM Norge AS: operating margin 10.4%, equity ratio 22.1%, rank 71Bekk Consulting AS: operating margin 14.7%, equity ratio 12.1%, rank 62Netnordic Norway AS: operating margin 5.3%, equity ratio 16.1%, rank 64Viaplay Group Norway AS: operating margin 5.8%, equity ratio 46.1%, rank 20Mnemonic AS: operating margin 4.0%, equity ratio 35.1%, rank 34Eidsiva Digital AS: operating margin −0.3%, equity ratio 53.9%, rank 35Zenitel Norway AS: operating margin 24.7%, equity ratio 57.5%, rank 1Space Norway Satcom AS: operating margin 41.0%, equity ratio 60.9%, rank 3Falkor AS: operating margin −51.1%, equity ratio 53.4%, rank 91KAHOOT! AS: operating margin 8.3%, equity ratio 85.2%, rank 45Gyldendal Norsk Forlag AS: operating margin 6.1%, equity ratio 29.1%, rank 44Cognite AS: operating margin −55.6%, equity ratio 36.7%, rank 72Softwareone AS: operating margin 30.2%, equity ratio 4.5%, rank 54Visma Software International AS: operating margin −7.5%, equity ratio 23.9%, rank 94Webstep AS: operating margin 7.2%, equity ratio 30.0%, rank 23Kyndryl Norway AS: operating margin 1.2%, equity ratio 56.1%, rank 56Aller Media AS: operating margin −5.4%, equity ratio 69.9%, rank 41Ifs Norge AS: operating margin 4.1%, equity ratio 32.3%, rank 29Thales Norway AS: operating margin 14.3%, equity ratio 38.7%, rank 9Computas AS: operating margin 3.0%, equity ratio 32.5%, rank 37Pexip AS: operating margin −31.2%, equity ratio 4.5%, rank 100Quorum Software Norway AS: operating margin 5.8%, equity ratio 18.7%, rank 49Kyndryl Services AS: operating margin 6.6%, equity ratio 12.1%, rank 77Navtor AS: operating margin 7.4%, equity ratio 33.8%, rank 36NTE Telekom AS: operating margin 17.3%, equity ratio 46.5%, rank 43Mastercard Payment Services Norway AS: operating margin 0.5%, equity ratio 76.2%, rank 12Microsoft Development Center Norway AS: operating margin −24.1%, equity ratio 93.4%, rank 21Orkla IT AS: operating margin −0.2%, equity ratio 25.2%, rank 68Volue Technology AS: operating margin 9.0%, equity ratio 37.3%, rank 28Signicat AS: operating margin 19.5%, equity ratio 87.3%, rank 4Story House Egmont AS: operating margin −2.3%, equity ratio 12.2%, rank 99Evry Card Issuing AS: operating margin 25.5%, equity ratio 5.6%, rank 61Aize AS: operating margin 35.3%, equity ratio 61.4%, rank 5Lyse AS: operating margin −47.8%, equity ratio 14.0%, rank 97Itera Norge AS: operating margin 6.2%, equity ratio 25.1%, rank 48Entur AS: operating margin 2.1%, equity ratio 16.8%, rank 88Telenor Maritime AS: operating margin 6.2%, equity ratio 10.4%, rank 80Evry Card Services AS: operating margin 19.1%, equity ratio 51.1%, rank 2Dips AS: operating margin 1.8%, equity ratio 31.7%, rank 76Poweroffice AS: operating margin 42.6%, equity ratio 11.6%, rank 38Haugaland Kraft Fiber AS: operating margin 24.2%, equity ratio 49.3%, rank 15Crayon Group AS: operating margin −22.5%, equity ratio 17.9%, rank 87Evidi AS: operating margin −7.3%, equity ratio 54.0%, rank 83Netsecurity AS: operating margin 1.3%, equity ratio 45.6%, rank 51Dagens Næringsliv AS: operating margin 0.8%, equity ratio 21.9%, rank 89Bitdeer Norway AS: operating margin 7.7%, equity ratio 13.6%, rank 70Abax AS: operating margin 19.7%, equity ratio 66.0%, rank 7Omega 365 Norway AS: operating margin 4.0%, equity ratio 28.4%, rank 32Amedia AS: operating margin 56.9%, equity ratio 57.1%, rank 13Bergen Fiber AS: operating margin 20.2%, equity ratio 57.2%, rank 27Kleri 1 AS: operating margin 7.8%, equity ratio 30.7%, rank 47Move AS: operating margin 2.3%, equity ratio 13.3%, rank 82Møller Digital AS: operating margin −0.3%, equity ratio 15.2%, rank 92Onitio Solutions Norge AS: operating margin 5.6%, equity ratio 33.8%, rank 18Netcompany Norway AS: operating margin −12.3%, equity ratio 40.8%, rank 74Green Mountain AS: operating margin 28.3%, equity ratio 61.4%, rank 14Q-Free Norge AS: operating margin −4.5%, equity ratio 37.9%, rank 90
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Zenitel Norway AS24.7%57.5%939 MNOK
Evry Card Services AS19.1%51.1%662 MNOK
Space Norway Satcom AS41.0%60.9%938 MNOK
Signicat AS19.5%87.3%721 MNOK
Aize AS35.3%61.4%706 MNOK
Discovery Networks Norway AS10.3%66.7%1,228 MNOK
Abax AS19.7%66.0%551 MNOK
Kongsberg Satellite Services AS21.3%60.7%1,737 MNOK
Thales Norway AS14.3%38.7%824 MNOK
Allente Norge AS10.7%61.9%2,972 MNOK
Cegal AS7.6%42.7%1,518 MNOK
Mastercard Payment Services Norway AS0.5%76.2%739 MNOK
Amedia AS56.9%57.1%530 MNOK
Green Mountain AS28.3%61.4%509 MNOK
Haugaland Kraft Fiber AS24.2%49.3%602 MNOK
Intility AS15.0%25.6%1,368 MNOK
Bouvet Norge AS12.3%26.7%3,371 MNOK
Onitio Solutions Norge AS5.6%33.8%511 MNOK
Opera Norway AS10.2%36.7%2,693 MNOK
Viaplay Group Norway AS5.8%46.1%974 MNOK
Microsoft Development Center Norway AS−24.1%93.4%736 MNOK
Advania Norge AS6.4%40.8%2,549 MNOK
Webstep AS7.2%30.0%861 MNOK
Stø AS6.4%87.5%1,280 MNOK
Remarkable AS8.5%28.3%3,572 MNOK
Vivicta AS0.2%43.4%3,901 MNOK
Bergen Fiber AS20.2%57.2%529 MNOK
Volue Technology AS9.0%37.3%730 MNOK
Ifs Norge AS4.1%32.3%830 MNOK
TV 2 AS1.4%37.2%5,812 MNOK
Aftenposten AS8.9%18.3%1,381 MNOK
Omega 365 Norway AS4.0%28.4%534 MNOK
SAP Norge AS3.0%36.7%1,320 MNOK
Mnemonic AS4.0%35.1%960 MNOK
Eidsiva Digital AS−0.3%53.9%953 MNOK
Navtor AS7.4%33.8%768 MNOK
Computas AS3.0%32.5%791 MNOK
Poweroffice AS42.6%11.6%617 MNOK
Tieto Banktech Norway AS−2.0%62.3%3,640 MNOK
Visma Enterprise AS18.6%29.2%1,447 MNOK
Aller Media AS−5.4%69.9%832 MNOK
Visma Software AS27.8%12.1%1,409 MNOK
NTE Telekom AS17.3%46.5%741 MNOK
Gyldendal Norsk Forlag AS6.1%29.1%901 MNOK
KAHOOT! AS8.3%85.2%903 MNOK
Cappelen Damm AS1.9%34.6%1,185 MNOK
Kleri 1 AS7.8%30.7%520 MNOK
Itera Norge AS6.2%25.1%672 MNOK
Quorum Software Norway AS5.8%18.7%782 MNOK
Cisco Systems Norway AS8.1%15.9%1,360 MNOK
Netsecurity AS1.3%45.6%571 MNOK
Accenture AS4.0%19.2%3,235 MNOK
Sopra Steria AS9.4%15.2%5,373 MNOK
Softwareone AS30.2%4.5%875 MNOK
Verdens Gang AS−0.1%37.8%1,946 MNOK
Kyndryl Norway AS1.2%56.1%859 MNOK
Omega 365 Consulting AS3.6%16.9%1,692 MNOK
Tieto Norway AS7.9%38.6%3,463 MNOK
Viken Fiber AS24.1%27.7%2,341 MNOK
Tripletex AS30.6%4.2%1,124 MNOK
Evry Card Issuing AS25.5%5.6%711 MNOK
Bekk Consulting AS14.7%12.1%987 MNOK
Conscia Norge AS4.8%16.0%1,077 MNOK
Netnordic Norway AS5.3%16.1%980 MNOK
Telenor Linx AS4.6%16.8%2,001 MNOK
Experis AS−2.1%32.6%1,757 MNOK
Capgemini Norge AS5.5%20.6%2,996 MNOK
Orkla IT AS−0.2%25.2%734 MNOK
Telia Norge AS17.9%23.5%14,652 MNOK
Bitdeer Norway AS7.7%13.6%562 MNOK
IBM Norge AS10.4%22.1%994 MNOK
Cognite AS−55.6%36.7%886 MNOK
Norsk Rikskringkasting AS−2.7%35.6%6,432 MNOK
Netcompany Norway AS−12.3%40.8%510 MNOK
CGI Norge AS−7.8%49.7%1,084 MNOK
Dips AS1.8%31.7%625 MNOK
Kyndryl Services AS6.6%12.1%780 MNOK
Ericsson AS3.8%13.9%1,411 MNOK
Lyse Tele AS−15.1%24.0%2,783 MNOK
Telenor Maritime AS6.2%10.4%666 MNOK
Schibsted Media AS−3.6%57.0%1,292 MNOK
Move AS2.3%13.3%517 MNOK
Evidi AS−7.3%54.0%573 MNOK
Microsoft Datacenter Norway AS7.8%25.6%1,216 MNOK
Telenor Norge AS18.1%13.9%25,975 MNOK
Telenor Towers Norway AS26.7%11.7%2,555 MNOK
Crayon Group AS−22.5%17.9%584 MNOK
Entur AS2.1%16.8%670 MNOK
Dagens Næringsliv AS0.8%21.9%566 MNOK
Q-Free Norge AS−4.5%37.9%507 MNOK
Falkor AS−51.1%53.4%924 MNOK
Møller Digital AS−0.3%15.2%517 MNOK
Microsoft Norge AS4.3%4.1%18,471 MNOK
Visma Software International AS−7.5%23.9%870 MNOK
Rikstv AS3.4%4.2%1,548 MNOK
Orange Business Digital Norway AS1.0%24.3%1,036 MNOK
Lyse AS−47.8%14.0%676 MNOK
Globalconnect AS−2.2%31.1%1,944 MNOK
Story House Egmont AS−2.3%12.2%715 MNOK
Pexip AS−31.2%4.5%786 MNOK

Holding and investment companies · 2023

170 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: 51 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1SEM & Stenersen Holding AS94 100.0%64.2% 1,835.5271 MNOK
2Ingulstad Holding AS86 99.9%22.5% 930.3193 MNOK
3IC Invest AS82 100.0%16.5% –26 MNOK
4Sunday Invest AS81 97.3%74.9% 26.0011 MNOK
5Nordlien Holding AS76 100.0%9.0% 1,858.8712 MNOK
6Bertheussen Invest AS76 98.3%22.3% 57.31434 MNOK
7Target Holding AS74 99.9%9.5% 206.2625 MNOK
8Stonehaven Capital AS72 99.3%14.0% 109.0019 MNOK
9Hegre Investering AS71 96.1%27.4% 25.3322 MNOK
10Mint Technology Holding AS70 89.5%88.9% 3.0412 MNOK
11Hansen Technologies Holdings AS68 97.4%19.3% 4.79436 MNOK
12Moroni Invest AS65 97.0%16.2% 21.9222 MNOK
13Ehaa Invest AS63 99.7%3.9% 300.8016 MNOK
14EM Kapital AS62 79.3%47.9% 4.7187 MNOK
15Guard Invest AS61 81.1%95.1% 1.29107 MNOK
16Kto Invest AS60 88.6%19.6% 5.1623 MNOK
17Callami Invest AS58 97.5%6.2% 9.3721 MNOK
18Braskeståva Invest AS58 87.6%17.0% 6.6554 MNOK
19Dyar Holding AS58 77.6%33.4% 3.95449 MNOK
20Indermark Invest AS57 94.4%8.6% 60.5722 MNOK
Show all 51
RankCompanyScoreTotal assets
21E. Larsen Holding AS5512 MNOK
22Arelma Invest AS55293 MNOK
23NORTHERN.Tech Holding AS5526 MNOK
24Bakkejord Holding AS54273 MNOK
25Acini Capital AS54147 MNOK
26Skynova Holding AS5353 MNOK
27Vigen Invest AS5131 MNOK
28RE Megawatt Holding AS501,195 MNOK
29Telenor Marketplace Invest AS46630 MNOK
30Sensio Holding AS46638 MNOK
31Sveb Invest AS4652 MNOK
32Proptech Group Holding AS4530 MNOK
33Itc Holding AS4429 MNOK
34Hjelseth Holding AS4487 MNOK
35Norkart Holding 2 AS411,285 MNOK
36Østereng IT Holding AS4115 MNOK
37Onyx Norway Holding AS37191 MNOK
38Unit4 Norway Holdings AS361,051 MNOK
39Kysttele Holding AS3658 MNOK
40Vizrt Group Holding AS343,183 MNOK
41Munu Holding AS3381 MNOK
42R&D Invest AS2920 MNOK
43Geomatikk Holding AS28806 MNOK
44Mintra Holding AS28832 MNOK
45Hvi Holding AS2595 MNOK
46Mercell Holding AS235,356 MNOK
47Teleplan Holding AS19419 MNOK
48Nhst Holding AS19587 MNOK
49Nordpå Holding AS1513 MNOK
50Data Nova Holding AS1472 MNOK
51Exsitec Solutions Holding AS951 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

Scenario analysis: the sector's weakest year

The sector's weakest year was 2026, with a median operating margin of 4.1%.

Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2019––
2020––
2021––
20227.7%30.5%
20235.2%35.6%
20245.3%33.7%
20255.8%33.4%
2026 · weakest year4.1%39.6%

In 2026, 11 ranked companies did better than the sector, 8 about the same and 2 weaker.

Held up best in 2026

  1. 1H5p Group ASequity ratio 39.9%29.5%
  2. 2Accigo ASequity ratio 7.6%29.0%
  3. 3Ntt Data Business Solutions ASequity ratio 30.4%11.5%
  4. 4Dxc Technology Norge ASequity ratio 57.2%9.9%
  5. 5Neatframe ASequity ratio 48.7%9.7%
  6. 6Autodesk Norway Operations ASequity ratio 51.5%7.4%
  7. 7Arm Norway ASequity ratio 48.8%6.6%
  8. 8Sony Music Entertainment Norway ASequity ratio 48.0%6.0%
  9. 9Stratsys Norge ASequity ratio 33.4%5.1%
  10. 10Almanakkforlaget ASequity ratio 24.1%4.8%

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.

USD/NOK (kr)

Latest value: 9.46 (2026-10)

USD/NOK fell 3.3% in 2025; the sector's median operating margin rose 0.5 percentage points.

USD/NOK per year and the sector's median operating margin
Measure202120222023202420252026
USD/NOK, annual average8.599.6110.5610.7510.399.54 (so far)
Change from the year before−8.8%+11.9%+9.9%+1.7%−3.3%−8.2%
Sector's median operating margin–7.7%5.2%5.3%5.8%4.1%

Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 2 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 0.5 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–7.7%5.2%5.3%5.8%4.1%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 2 November 2026

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 0.5 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–7.7%5.2%5.3%5.8%4.1%

Source: SSB (14710, CC BY 4.0). Source · fetched 2 November 2026

When USD/NOK fell in 2025, 1,029 of 1,964 ranked companies kept their operating margin at or above the year before. Among the largest: Telenor Norge AS (19.4% → 21.9%), Telia Norge AS (2.4% → 20.2%), Norsk Rikskringkasting AS (−3.3% → −1.6%), TV 2 AS (3.0% → 3.8%), Tiktok Norway AS (6.9% → 7.8%).

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
23,538
+3.5% from 2023
Persons employed
113,952
+0.6% from 2023
Turnover
NOK 424.7 bn
+10.2% from 2023
Gross operating margin
14.6%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

156 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −13.8% against the four quarters before (181). That is about 6.6 per 1,000 enterprises.

432024K4462025K1512025K2412025K3402025K4412026K1522026K2232026K3

Foreign-controlled enterprises · 2024

Share of enterprises
5.7%
Share of persons employed
40.1%
Share of turnover
50.3%

SSB publishes this for groups of industries only. The figures are for the group “Informasjon og kommunikasjon”.

Turnover index · Informasjon og kommunikasjon

142.3 index, 2021 = 100, seasonally adjusted · 2026M08
+0.9% against 2025M08.

Monthly, 2023M08 to 2026M08.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13863. 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

  • Fmiopt AS 836010302 Voluntary liquidation · 2 November 2026 · 0 MNOK (2025)
  • Scientio AS 928658678 Forced dissolution · 2 November 2026
  • Seko Data AS 984603509 Bankruptcy · 2 November 2026
  • TRUST IT. AS 988530956 Bankruptcy · 2 November 2026
  • Xybel AS 921902050 Voluntary liquidation · 2 November 2026
  • Cousin AS 935903386 Voluntary liquidation · 31 October 2026
  • Fintech Solutions AS 923534881 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
  • Hurtigbolig AS 929238907 Voluntary liquidation · 31 October 2026

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
58*Hele hovedgruppe 58
58.110Utgivelse av bøker
58.120Utgivelse av aviser
58.130Utgivelse av blader og tidsskrifter
58.190Utgivelsesvirksomhet ellers, unntatt utgivelse av programvare
58.210Utgivelse av programvare for dataspill
58.290Utgivelse av annen programvare
59*Hele hovedgruppe 59
59.110Produksjon av film, video og fjernsynsprogrammer
59.120Etterarbeid knyttet til produksjon av film, video og fjernsynsprogrammer
59.130Distribusjon av film og video
59.140Filmfremvisning
59.200Produksjon og utgivelse av musikk- og lydopptak
60*Hele hovedgruppe 60
60.100Radiokringkasting og distribuering av musikk og andre lydmedier
60.200Fjernsynsprogramvirksomhet, kringkasting og distribuering av audiovisuelle medier
60.310Nyhetsbyråvirksomhet
60.390Annen virksomhet for distribuering av innhold
61*Hele hovedgruppe 61
61.100Kabelbasert, satellittbasert og trådløs telekommunikasjon
61.200Videresalg av telekommunikasjon og formidlingstjenester tilknyttet telekommunikasjon
61.900Telekommunikasjon ellers
62*Hele hovedgruppe 62
62.100Dataprogrammeringstjenester
62.200Konsulentvirksomhet tilknyttet informasjonsteknologi og forvaltning og drift av it-systemer
62.900Andre tjenester tilknyttet informasjonsteknologi
63*Hele hovedgruppe 63
63.100Datainfrastruktur, -behandling, -lagring og tilknyttede tjenester
63.910Drift av søkemotorer
63.920Andre informasjonstjenester