Sector

Undervisning

782 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Morning company class

Morning company classes are our own division by revenue, not an official standard: Micro NOK 1m–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Companies are ranked only against others in the same class, and every figure below is for the class you have chosen. What are Morning company classes?

Ranking · 2025 · Morning class Medium

Morning class Medium · 2025
#	Company	Profile	Score	Change
1	Calian Europe AS	Leader	87	−6
2	Wang Hamar AS	Leader	73	+7
3	Kristelig Gymnasium AS	Leader	73	+8
4	Wang Romerike AS	Leader	66	+16
5	Metis Bergen Private Gymnas AS	Leader	64	+24
6	Lingu AS	Steward	63	−6
7	Oslo Nye Høyskole AS	Leader	62	−3
8	Biss Sentrum AS	Sprinter	61	+12
9	Læringsverkstedet Gruppen AS	Sprinter	59	+9
10	Tryggheim Skular AS	Leader	59	+9
11	Maersk Training AS	Sprinter	58	+31
12	Akademiet Vgs Ålesund AS	Steward	58	−22
13	Nla Høgskolen AS	Steward	56	−12
14	Kongsberg Technology Training Centre AS	Steward	56	−1
15	Wang Toppidrett Oslo AS	Steward	54	−5
16	Ifront Karriere AS	Sprinter	53	−6
17	Lundeneset Vgs AS	Steward	53	+2
18	Krokeide Videregående Skole AS	Sprinter	51	−3
19	Nhc Services AS	Sprinter	51	+39
20	Hero Kompetanse AS	Sprinter	50	−22
21	Kristen Friskole AS	Sprinter	50	+7
22	Universitetssenteret på Svalbard AS	Steward	49	−8
23	Joblearn AS	Sprinter	49	+3
24	Signo Grunn- og Videregående Skole AS	Builder	45	+2
25	Sonans Privatgymnas AS	Sprinter	44	+9
26	Moelv Videregående Skole AS	Steward	43	−3
27	Kidsa Drift AS	Steward	43	−13
28	Val Skoler AS	Steward	41	+10
29	Espira Ulsetskogen AS	Sprinter	40	+2
30	Wright Trafikkskole AS	Sprinter	32	+2
31	Wang Ung Oslo AS	Builder	29	+4
32	Podium AS	Sprinter	28	−24
33	Fretex Pluss AS	Builder	25	−23
34	Lovisenberg Diakonale Høgskole AS	Builder	21	−1
35	Folkeuniversitetet AS	Builder	19	−35
36	Fagskolen Kristiania AS	Builder	18	−1

Download as CSV (opens in Excel)

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 Medium

Nhc Services AS
From 2024 to 2025: the operating margin rose from −12.1% to 12.6% and went from a loss to a profit before tax.
+39
Maersk Training AS
From 2024 to 2025: went from a loss to a profit before tax and the operating margin rose from −3.7% to 10.7%.
+31
Podium AS
From 2024 to 2025: the operating margin fell from 11.1% to 3.3%.
−24
Metis Bergen Private Gymnas AS
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from 36.0% to 49.4%.
+24

Summary analysis

Undervisning, Morning class Medium: 36 ranked companies in fiscal year 2025.

Best in the sector: Calian Europe AS (score 87, operating margin 25.4%, equity ratio 70.6%). Wang Hamar AS (score 73, operating margin 5.3%, equity ratio 73.5%). Kristelig Gymnasium AS (score 73, operating margin 4.7%, equity ratio 79.5%).

Weakest in the sector: Fagskolen Kristiania AS (score 18, operating margin −5.9%, equity ratio 20.4%). Folkeuniversitetet AS (score 19, operating margin −3.3%, equity ratio −13.9%). Lovisenberg Diakonale Høgskole AS (score 21, operating margin −7.0%, equity ratio 26.5%).

Worth a closer look

The median operating margin rose from 2.8% in 2024 to 4.0% in 2025 (1.3 percentage points).
The median equity ratio rose from 38.2% in 2024 to 39.4% in 2025 (1.1 percentage points).
The median revenue growth fell from 7.7% in 2024 to 6.3% in 2025 (1.4 percentage points).
The share with a loss went from 22% in 2024 to 14% 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 Medium

The five largest companies account for 32% of the sector's revenue. Combined profit before tax for the 36 ranked companies: 330 MNOK.

Highest revenue

Nla Høgskolen AS 433 MNOK
Wright Trafikkskole AS 349 MNOK
Oslo Nye Høyskole AS 304 MNOK
Ifront Karriere AS 243 MNOK
Universitetssenteret på Svalbard AS 240 MNOK

Operating revenue.

Highest operating margin

Operating result divided by operating revenue.

Largest profit

Oslo Nye Høyskole AS 73 MNOK
Calian Europe AS 50 MNOK
Læringsverkstedet Gruppen AS 29 MNOK
Nla Høgskolen AS 25 MNOK
Wright Trafikkskole AS 19 MNOK

Profit before tax.

Largest loss

Fagskolen Kristiania AS −9 MNOK
Lovisenberg Diakonale Høgskole AS −9 MNOK
Folkeuniversitetet AS −3 MNOK
Fretex Pluss AS −3 MNOK
Kongsberg Technology Training Centre AS 0 MNOK

Profit before tax, the largest negative.

Most solid

Equity ratio: equity divided by total assets.

Fastest growth

Calian Europe AS +88.6%
Lingu AS +46.1%
Biss Sentrum AS +31.2%
Ifront Karriere AS +26.2%
Maersk Training AS +18.6%

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

Largest revenue decline

Joblearn AS −23.1%
Val Skoler AS −18.9%
Podium AS −7.9%
Fretex Pluss AS −5.4%
Hero Kompetanse AS −4.5%

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

Biggest climbers

Nhc Services AS +38.2 points
Maersk Training AS +31.3 points
Metis Bergen Private Gymnas AS +24.4 points
Wang Romerike AS +15.9 points
Val Skoler AS +9.7 points

Change in index points from the year before.

Biggest fallers

Podium AS −23.5 points
Fretex Pluss AS −22.9 points
Hero Kompetanse AS −22.3 points
Akademiet Vgs Ålesund AS −22.1 points
Kidsa Drift AS −12.9 points

Change in index points from the year before.

Most employees

Employees according to the Central Coordinating Register.

Highest revenue per employee

Calian Europe AS 10.9 MNOK
Læringsverkstedet Gruppen AS 3.6 MNOK
Sonans Privatgymnas AS 1.9 MNOK
Lingu AS 1.6 MNOK
Universitetssenteret på Svalbard AS 1.5 MNOK

Only companies with at least 5 employees.

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 Medium

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. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

Nhc Services AS profitability 0 → 94, solidity 16 → 15
Maersk Training AS profitability 8 → 83, solidity 42 → 32
Fretex Pluss AS profitability 61 → 9, solidity 29 → 26
Metis Bergen Private Gymnas AS profitability 16 → 60, solidity 45 → 65
Akademiet Vgs Ålesund AS profitability 68 → 23, solidity 97 → 97

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

Company	Profile	Profitability	Solidity	In 2024 (profitability / solidity)
Calian Europe AS	Lion	100	82	98 / 90
Nhc Services AS	Cheetah	94	15	0 / 16
Oslo Nye Høyskole AS	Lion	90	56	90 / 68
Maersk Training AS	Cheetah	83	32	8 / 42
Hero Kompetanse AS	Cheetah	83	35	95 / 55
Læringsverkstedet Gruppen AS	Cheetah	81	47	79 / 23
Wang Romerike AS	Lion	74	53	53 / 39
Joblearn AS	Cheetah	74	41	74 / 26
Sonans Privatgymnas AS	Cheetah	74	18	73 / 10
Biss Sentrum AS	Cheetah	71	29	–
Ifront Karriere AS	Cheetah	71	21	73 / 35
Espira Ulsetskogen AS	Cheetah	66	6	50 / 6
Kristen Friskole AS	Cheetah	61	3	58 / 0
Metis Bergen Private Gymnas AS	Lion	60	65	16 / 45
Krokeide Videregående Skole AS	Cheetah	60	50	65 / 52
Wang Hamar AS	Lion	59	85	39 / 84
Tryggheim Skular AS	Lion	53	74	48 / 81
Wright Trafikkskole AS	Cheetah	51	12	56 / 13
Podium AS	Cheetah	51	9	90 / 3
Kristelig Gymnasium AS	Lion	50	94	35 / 94
Lundeneset Vgs AS	Elephant	49	68	–
Signo Grunn- og Videregående Skole AS	Beaver	49	44	48 / 32
Wang Ung Oslo AS	Beaver	46	0	–
Lingu AS	Elephant	44	59	76 / 58
Nla Høgskolen AS	Elephant	43	76	69 / 74
Kidsa Drift AS	Elephant	26	100	26 / 100
Val Skoler AS	Elephant	26	88	15 / 61
Akademiet Vgs Ålesund AS	Elephant	23	97	68 / 97
Wang Toppidrett Oslo AS	Elephant	21	91	45 / 87
Universitetssenteret på Svalbard AS	Elephant	20	71	37 / 71
Moelv Videregående Skole AS	Elephant	17	62	24 / 65
Kongsberg Technology Training Centre AS	Elephant	11	79	18 / 77
Fretex Pluss AS	Beaver	9	26	61 / 29
Folkeuniversitetet AS	Beaver	4	0	–
Lovisenberg Diakonale Høgskole AS	Beaver	3	38	3 / 48
Fagskolen Kristiania AS	Beaver	1	23	8 / 19

The sector in numbers

Summary · fiscal year 2025 · Morning class Medium

The sector's median operating margin is 4.0%. 2 of 36 companies have negative equity. The median equity ratio is 39.4%.

Companies with accounts36

Total revenue4,974 MNOK

Median operating margin4.0%

Median equity ratio39.4%

Share with a loss14%

Share with negative equity6%

All figures are for fiscal year 2025. Ranked: 36 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

Climbers and fallers · Morning class Medium

Change in rank from 2024 to 2025, for 32 companies ranked in both years.

Climbers

19Metis Bergen Private Gymnas ASfrom rank 24 to 564
18Maersk Training ASfrom rank 29 to 1158
13Wang Romerike ASfrom rank 17 to 466
13Nhc Services ASfrom rank 32 to 1951
9Læringsverkstedet Gruppen ASfrom rank 18 to 959

Fallers

17Hero Kompetanse ASfrom rank 3 to 2050
17Podium ASfrom rank 15 to 3228
14Kidsa Drift ASfrom rank 13 to 2743
14Fretex Pluss ASfrom rank 19 to 3325
10Akademiet Vgs Ålesund ASfrom rank 2 to 1258

Awards · 2025 · Morning class Medium

Most profitableCalian Europe AS25.4%

Fastest growthFolkeuniversitetet AS960.6%

Strongest balance sheetKidsa Drift AS93.8%

Largest revenueNla Høgskolen AS433 MNOK

Highest revenue per employeeCalian Europe AS10.9 MNOK

Needs attention · 2025 · Morning class Medium

15 companies show at least one warning sign. Showing the 15 most important.

criticalFolkeuniversitetet ASNegative equity · Current ratio below 1 (0.73) · Loss before tax
criticalWang Ung Oslo ASNegative equity · Current ratio below 1 (0.48)
watchLovisenberg Diakonale Høgskole ASCurrent ratio below 1 (0.87) · Loss before tax
watchEspira Ulsetskogen ASVery low equity ratio (5.8%) · Current ratio below 1 (0.89)
watchWright Trafikkskole ASCurrent ratio below 1 (0.33)
watchOslo Nye Høyskole ASCurrent ratio below 1 (0.43)
watchVal Skoler ASCurrent ratio below 1 (0.74)
watchSonans Privatgymnas ASCurrent ratio below 1 (0.88)
watchFagskolen Kristiania ASLoss before tax
watchFretex Pluss ASLoss before tax
watchPodium ASVery low equity ratio (6.8%)
watchKongsberg Technology Training Centre ASLoss before tax
watchNhc Services ASCurrent ratio below 1 (0.95)
watchKristen Friskole ASVery low equity ratio (0.2%)
watchKidsa Drift ASCurrent ratio below 1 (0.02)

Sector map · 2025 · Morning class Medium

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.

Show the map's figures as a table

Company	Operating margin	Equity ratio	Revenue
Calian Europe AS	25.4%	70.6%	196 MNOK
Wang Hamar AS	5.3%	73.5%	62 MNOK
Kristelig Gymnasium AS	4.7%	79.5%	147 MNOK
Wang Romerike AS	5.6%	45.9%	100 MNOK
Metis Bergen Private Gymnas AS	4.0%	49.4%	95 MNOK
Lingu AS	2.9%	48.3%	112 MNOK
Oslo Nye Høyskole AS	24.6%	48.2%	304 MNOK
Biss Sentrum AS	7.9%	20.8%	54 MNOK
Læringsverkstedet Gruppen AS	12.1%	35.6%	207 MNOK
Tryggheim Skular AS	7.5%	57.4%	175 MNOK
Maersk Training AS	10.7%	24.7%	174 MNOK
Akademiet Vgs Ålesund AS	0.0%	89.4%	52 MNOK
Nla Høgskolen AS	3.3%	60.3%	433 MNOK
Kongsberg Technology Training Centre AS	−2.0%	64.7%	63 MNOK
Wang Toppidrett Oslo AS	1.2%	74.7%	127 MNOK
Ifront Karriere AS	4.0%	20.1%	243 MNOK
Lundeneset Vgs AS	5.8%	51.9%	54 MNOK
Krokeide Videregående Skole AS	9.4%	43.1%	114 MNOK
Nhc Services AS	12.6%	13.7%	61 MNOK
Hero Kompetanse AS	9.3%	25.3%	64 MNOK
Kristen Friskole AS	12.9%	0.2%	59 MNOK
Universitetssenteret på Svalbard AS	−0.8%	54.7%	240 MNOK
Joblearn AS	7.6%	29.0%	86 MNOK
Signo Grunn- og Videregående Skole AS	3.6%	34.9%	71 MNOK
Sonans Privatgymnas AS	10.1%	13.7%	195 MNOK
Moelv Videregående Skole AS	−0.2%	48.6%	76 MNOK
Kidsa Drift AS	−0.2%	93.8%	53 MNOK
Val Skoler AS	2.9%	74.2%	199 MNOK
Espira Ulsetskogen AS	3.1%	5.8%	75 MNOK
Wright Trafikkskole AS	4.1%	12.4%	349 MNOK
Wang Ung Oslo AS	2.1%	−10.9%	51 MNOK
Podium AS	3.3%	6.8%	110 MNOK
Fretex Pluss AS	−2.1%	20.7%	134 MNOK
Lovisenberg Diakonale Høgskole AS	−7.0%	26.5%	168 MNOK
Folkeuniversitetet AS	−3.3%	−13.9%	83 MNOK
Fagskolen Kristiania AS	−5.9%	20.4%	190 MNOK

Holding and investment companies · 2025

40 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: 15 have at least 10 MNOK in assets and are listed.

Holding and investment companies
Rank	Company	Score	Equity ratio	Return on assets	Current ratio	Total assets
1	S.A.M. Holding AS	83	96.0%	95.3%	24.78	59 MNOK
2	Petter Myhre Invest AS	74	99.6%	5.5%	59.99	12 MNOK
3	Ween Kapital AS	73	93.2%	48.4%	14.49	67 MNOK
4	Infinitum Holding AS	64	97.7%	5.1%	31.85	143 MNOK
5	Btv Invest AS	60	87.7%	21.2%	2.04	14 MNOK
6	Nathan Holding AS	60	86.9%	6.2%	233.44	37 MNOK
7	Lfs Holding AS	56	99.6%	0.5%	225.71	13 MNOK
8	Steinbråten Holding AS	49	79.8%	18.2%	0.73	10 MNOK
9	Vid Holding AS	44	100.0%	0.0%	1.83	35 MNOK
10	Oasen Skole Holding AS	43	51.6%	10.6%	2.56	34 MNOK
11	Isolde Invest AS	41	94.8%	1.4%	5.53	92 MNOK
12	Msm Invest AS	37	28.9%	8.7%	7.20	59 MNOK
13	Oasen Holding Søgne AS	33	75.8%	4.0%	2.35	20 MNOK
14	Sfr Holding AS	19	55.4%	1.6%	0.41	1,029 MNOK
15	Sgd Holding AS	14	49.9%	1.6%	0.17	12 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 2021, with a median operating margin of −5.7%.

Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal year	Median operating margin	Median equity ratio
2019	–	–
2020	–	–
2021 · weakest year	−5.7%	0.8%
2022	−3.4%	−20.8%
2023	3.4%	29.4%
2024	2.8%	29.7%
2025	3.8%	30.9%

In 2021, 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 rose 1.0 percentage points.

Consumer price index per year and the sector's median operating margin
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	−5.7%	−3.4%	3.4%	2.8%	3.8%	–

Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026

Policy rate (prosent)

Latest value: 4.30 (2026-09)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.0 percentage points.

Policy rate per year and the sector's median operating margin
Measure	2021	2022	2023	2024	2025	2026
Policy rate, annual average	0.08	1.32	3.54	4.50	4.30	4.14 (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	−0.16 percentage points
Sector's median operating margin	−5.7%	−3.4%	3.4%	2.8%	3.8%	–

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026

When policy rate fell in 2025, 423 of 767 ranked companies kept their operating margin at or above the year before. Among the largest: Vid Vitenskapelige Høgskole AS (−1.0% → 1.0%), Wright Trafikkskole AS (3.5% → 4.1%), Oslo Nye Høyskole AS (22.8% → 24.6%), Ifront Karriere AS (2.8% → 4.0%), Læringsverkstedet Gruppen AS (6.1% → 12.1%).

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: 19,430; +1.8% from 2023
Persons employed: 33,818; +0.3% from 2023
Turnover: NOK 38.2 bn; +5.2% from 2023
Gross operating margin: 12.8%; 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

35 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change 0.0% against the four quarters before (35). That is about 1.8 per 1,000 enterprises.

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

Arlo Maritime AS 994312367 Voluntary liquidation · 31 October 2026
Nina Lægreid AS 936428002 Voluntary liquidation · 31 October 2026
Socia AS 937843712 Voluntary liquidation · 31 October 2026
Spornes Gårdsbarnehage AS 995003066 Voluntary liquidation · 31 October 2026
VM Coaching AS 935908914 Voluntary liquidation · 31 October 2026
Wensaone AS 934080688 Voluntary liquidation · 31 October 2026
AD Faktotum AS 926717294 Voluntary liquidation · 30 October 2026 · 0 MNOK (2025)
Amygdala Coaching og Veiledning AS 925902101 Voluntary liquidation · 30 October 2026 · 0 MNOK (2025)

All bankruptcies and liquidations in the sector

Industry codes (NACE)

Code	Description
85*	Hele hovedgruppe 85
85.100	Førskoleundervisning og drift av barnehager
85.201	Ordinær grunnskoleundervisning
85.202	Spesialskoleundervisning på grunnskolenivå
85.310	Videregående opplæring innenfor studieforberedende utdanningsprogram
85.320	Videregående opplæring innenfor yrkesfaglige utdanningsprogram
85.330	Undervisning innenfor kort høyere yrkesfaglig utdanning
85.401	Undervisning ved universiteter
85.402	Undervisning ved vitenskapelige høgskoler
85.403	Undervisning ved andre høgskoler
85.404	Undervisning innenfor lang høyere yrkesfaglig utdanning
85.510	Undervisning innenfor idrett og rekreasjon
85.521	Kulturskoleundervisning til barn og unge
85.529	Annen undervisning innenfor kultur
85.531	Undervisning ved godkjente trafikkskoler
85.532	Annen trafikkskoleundervisning
85.591	Undervisning ved folkehøgskoler
85.592	Undervisning i form av arbeidsmarkedskurs/arbeidsrettede kurs
85.593	Undervisning ved voksenopplæringssentre, aktiviteter i studieforbund og undervisning i form av frivillige organisasjoners kurs
85.594	Privatundervisning
85.595	Undervisning innenfor religion
85.596	Aktiviteter utført ved leirskoler
85.597	Annen undervisning ellers
85.610	Formidlingstjenester tilknyttet kurs og veiledere
85.691	Pedagogisk-psykologisk rådgivningstjeneste
85.699	Andre tjenester tilknyttet undervisning ikke nevnt annet sted