Corinor AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Score · fiscal year 2025
21of 100
How to read this: the company is ahead of 8 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 1,879 of 2,036 · What are Morning company classes?
Place in the whole sector: 6,483 of 7,073 · Industri
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 5 and resilience 41 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Corinor AS is 30 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 2,036 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −11.1% (median 4.6%) and equity ratio 44.1% (median 42.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 27 MNOK | 21 MNOK |
| Operating margin | −11.1% | 4.6% |
| Profit margin | −10.9% | 4.5% |
| Return on assets | −38.6% | 9.6% |
| Equity ratio | 44.1% | 42.6% |
| Debt-to-equity | 1.27 | 1.24 |
| Current ratio | 1.42 | 1.78 |
| Revenue growth | −10.1% | 5.3% |
| Revenue per employee | 1.28 MNOK | 1.78 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 21, Corinor AS does better than 8% of companies in the Morning class Small in the same sector (2,036 companies) in 2025.
Score 2023–2025
- Corinor AS
- Median: companies in the Morning class Small in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
18 days | 47 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
30 days | 33 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
−1.9% | 3.6% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
38.4% | 26.7% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
−24.6 | 6.4 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
3.0% | 2.0% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 21.1% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): −0.5 MNOK.
Of the financial costs of 0.1 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
Corinor AS has a score of 21 for 2025, rank 6,483 of 7,073 in the sector.
Strongest: Solidity: percentile 51 against peers, equity ratio 44.1% against a median of 42.6%.
Weakest: Profitability: percentile 5 against peers, operating margin −11.1% against a median of 4.6%. Growth: percentile 20 against peers, revenue growth −10.1% against a median of 5.3%.
Worth a closer look
- The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say? Based on: interest coverage (times) −24.6 (median 6.4); financial costs as a share of debt 3.0% (median 2.0%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −10.9% (median 4.5%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −11.1% (median 4.6%).
- What lies behind weak profitability, and will it last?
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of Corinor AS fell by 5.2 percentage points. Comparable companies rose by a median 0.0 points. So the company did 5.2 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Corinor AS moved the same way as comparable companies 0 times. About 0% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | −5.9% | 4.6% | −10.8 percentage points | 0.0 percentage points | −10.8 percentage points |
| 2025 | −11.1% | 4.6% | −5.2 percentage points | +0.0 percentage points | −5.2 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Corinor AS. The figures stand side by side; we claim no cause.
Producer prices in manufacturing (indeks (2021 = 100))
Producer prices in manufacturing rose 2.9% in 2025; the operating margin of Corinor AS fell 5.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Producer prices in manufacturing, annual average | 100.0 | 124.7 | 129.5 | 134.4 | 138.3 | 146.7 (so far) |
| Change from the year before | +10.7% | +24.7% | +3.9% | +3.7% | +2.9% | +6.1% |
| The company's operating margin | – | – | 4.9% | −5.9% | −11.1% | – |
Source: SSB (12462, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Corinor AS fell 5.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 4.9% | −5.9% | −11.1% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wholesale power price (øre per kWh)
Wholesale power price rose 9.4% in 2025; the operating margin of Corinor AS fell 5.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wholesale power price, annual average | 64.2 | 141.7 | 72.0 | 49.4 | 54.0 | 96.5 (so far) |
| Change from the year before | +466.7% | +120.8% | −49.2% | −31.4% | +9.4% | +78.4% |
| The company's operating margin | – | – | 4.9% | −5.9% | −11.1% | – |
Source: SSB (09363, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the operating margin of Corinor AS fell 5.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| The company's operating margin | – | – | 4.9% | −5.9% | −11.1% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: fabricated metal products (indeks)
Wage index: fabricated metal products rose 5.8% in 2025; the operating margin of Corinor AS fell 5.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: fabricated metal products, annual average | 88.0 | 91.5 | 96.9 | 102.1 | 108.0 | 112.8 (so far) |
| Change from the year before | +3.1% | +3.9% | +6.0% | +5.4% | +5.8% | +4.5% |
| The company's operating margin | – | – | 4.9% | −5.9% | −11.1% | – |
Source: SSB (12314, CC BY 4.0). Source
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.
What the numbers say
Corinor AS had an operating margin of −11.1% and an equity ratio of 44.1% in 2025, and ranks 6,483 of 7,073 in Industri.
From 2024 to 2025: the equity ratio fell from 68.3% to 44.1% and the operating margin fell from −5.9% to −11.1%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 6 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.2 | not meaningful |
| EV/EBIT | 18.6 | not meaningful |
| P/B | 3.0 | 6 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The NACE code has no listed industry of its own in the table, so the multiples are the sector median: Machinery, Food Processing, Chemical (Specialty), Building Materials, Packaging & Container.
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
A mechanical estimate from public accounts, not advice. A mechanical estimate from public accounts with listed multiples and fixed adjustments. Not a valuation and not advice to buy or sell. See the calculation
Worth a closer look
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −24.6 (median 6.4); Financial costs as a share of debt 3.0% (median 2.0%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −10.9% (median 4.5%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −11.1% (median 4.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.0% of the debt in 2025. The policy rate averaged 4.30 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
See interest rates, prices and exchange rates for the sector
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of −0.4%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 5 | weight 40% |
|---|---|---|
| Solidity | 51 | weight 20% |
| Liquidity | 34 | weight 5% |
| Growth | 20 | weight 25% |
| Consistency | 26 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 39 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Corinor AS?
The operating margin was −11.1% in 2025, against a median of 4.6% among companies in the Morning class Small in the same sector. Return on assets was −38.6%. The company made a loss before tax.
How solid is Corinor AS?
The equity ratio was 44.1% in 2025 (median 42.6%). Debt-to-equity was 1.27 (median 1.24).
What is the liquidity of Corinor AS like?
The current ratio was 1.42 in 2025 (median 1.78).
How does Corinor AS compare in Industri?
Corinor AS ranks 6,483 of 7,073 in Industri for 2025. Among companies in the Morning class Small it is number 1,879 of 2,036. Revenue changed by −10.1% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| JH Interiør AS |  Elephant |
29 MNOK | 1.7% | 42 |
| Slevik Trevare AS | Elephant |
29 MNOK | 3.0% | 57 |
| Glomma Industrier AS |  Beaver |
28 MNOK | 3.4% | 48 |
| Corinor AS (this company) | Beaver |
27 MNOK | −11.1% | 21 |
| Rival AS | Beaver |
25 MNOK | −21.7% | 24 |
| Velma AS | Elephant |
25 MNOK | 3.2% | 61 |
| Wilberg Design Innredninger AS | Elephant |
25 MNOK | −6.8% | 28 |
| MØBELSNEKKERNE LIEN & Lian AS | Elephant |
25 MNOK | 3.8% | 57 |
| OS Trekultur AS | Elephant |
24 MNOK | 4.3% | 51 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
From the Central Coordinating Register
- Org. no.
- 835019802
- Legal form
- AS
- Sector
- Industri (31.000)
- Morning company class
- Small
- Employees
- 21 registered 10 September 2026
- Founded
- 2 March 1984 42 years in operation
- Share capital
- 0.07 MNOK
- Business address
- Gjestrum Industriområde, Bergsjøvegen 31, 2846 BØVERBRU (VESTRE TOTEN)
- Municipality
- Vestre Toten rank 28–38 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
- Website
- corinor.no
Source: Central Coordinating Register, Brønnøysund Register Centre. The employee count is reported by the company and may be older than the accounts. See the company at the Brønnøysund Register Centre
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 31 October 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 5
- Largest owner
- 39.0% · top three 82.0%
- Split
- companies 94% · private persons 6% · foreign 0%
- Owned from the same municipality
- 66%
- Arnt Invest AS · 39.0%
- Nævestad Holding AS · 21.5%
- Arko Invest AS · 21.5%
- Blåflat Invest AS · 12.0%
- 1 private persons · 6.0%
Change 2007–2025:
21% of the shares changed owner (2 new and 1 departed owners).
New owners (companies): Blåflat Invest AS
Departed (companies): KS-Invest AS
Source: the Norwegian Tax Administration's shareholder register as of 2025. Figures may be older than today's ownership. Private persons are not shown by name.
Error in the data?
Do you see an error in the figures or in how the company is mapped (sector, holding, group)? Let us know. Corrections require documentation.
Is this your company? Suggest changes or add information
Figures last fetched 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 65 | 32 | 21 | |
| Rank | 1,775 | 5,511 | 6,483 | |
| Operating margin | 4.9% | −5.9% | −11.1% | |
| Return on assets | 11.8% | −10.8% | −38.6% | |
| Equity ratio | 65.8% | 68.3% | 44.1% | |
| Current ratio | 1.90 | 1.90 | 1.42 | |
| Revenue growth | – | −20.5% | −10.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 37.6 MNOK | 29.9 MNOK | 26.8 MNOK |
| Operating profit | 1.8 MNOK | −1.8 MNOK | −3.0 MNOK |
| Profit before tax | 1.8 MNOK | −1.8 MNOK | −2.9 MNOK |
| Tax expense | 0.4 MNOK | −0.4 MNOK | 0.0 MNOK |
| Net profit | 1.4 MNOK | −1.4 MNOK | −3.0 MNOK |
| Financial expenses | 0.3 MNOK | 0.2 MNOK | 0.1 MNOK |
| Total assets | 17.4 MNOK | 14.7 MNOK | 7.3 MNOK |
| Current assets | 11.3 MNOK | 8.8 MNOK | 5.7 MNOK |
| Equity | 11.4 MNOK | 10.0 MNOK | 3.2 MNOK |
| Retained earnings | 10.2 MNOK | 8.8 MNOK | 3.0 MNOK |
| Total liabilities | 5.9 MNOK | 4.7 MNOK | 4.1 MNOK |
| Current liabilities | 5.9 MNOK | 4.7 MNOK | 4.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6622909.
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