THORLEIF AAS AS
Score · fiscal year 2025
26of 100
How to read this: the company is ahead of 16 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 10,897 of 12,950 · What are Morning company classes?
Place in the whole sector: 17,482 of 20,428 · Bygg og anlegg
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 12 and solidity 0 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
THORLEIF AAS AS is 24 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 12,943 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −15.0% (median 3.5%) and equity ratio −15.8% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 3 MNOK |
| Operating margin | −15.0% | 3.5% |
| Profit margin | −20.4% | 3.0% |
| Return on assets | −12.9% | 7.8% |
| Equity ratio | −15.8% | 33.1% |
| Debt-to-equity | – | 1.41 |
| Current ratio | 6.65 | 1.42 |
| Revenue growth | −12.0% | 6.1% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 26, THORLEIF AAS AS does better than 16% of companies in the Morning class Micro in the same sector (12,950 companies) in 2025.
Score 2023–2025
- THORLEIF AAS AS
- Median: companies in the Morning class Micro in the same sector
THORLEIF AAS AS has a score of 26 for 2025, rank 17,482 of 20,428 in the sector.
Strongest: Liquidity: percentile 96 against peers, current ratio 6.65 against a median of 1.42.
Weakest: Solidity: percentile 0 against peers, equity ratio −15.8% against a median of 33.1%. Profitability: percentile 12 against peers, operating margin −15.0% against a median of 3.5%.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −15.8% (median 33.1%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −20.4% (median 3.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −15.0% (median 3.5%).
- What lies behind weak solidity, 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
What the numbers say
THORLEIF AAS AS had an operating margin of −15.0% and an equity ratio of −15.8% in 2025, and ranks 17,482 of 20,428 in Bygg og anlegg.
From 2024 to 2025: the operating margin fell from 53.9% to −15.0% and went from a profit to a loss before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | not meaningful |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- critical
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −15.8% (median 33.1%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −20.4% (median 3.0%).
- 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 −15.0% (median 3.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 4.1% 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
- critical Negative equity
Scenario analysis: the sector's weakest year
We have no accounts for 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of 1.8%. 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 | 12 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 96 | weight 15% |
| Growth | 27 | weight 15% |
| Consistency | 30 | weight 15% |
Durability: 35 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is THORLEIF AAS AS?
The operating margin was −15.0% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −12.9%. The company made a loss before tax.
How solid is THORLEIF AAS AS?
The equity ratio was −15.8% in 2025 (median 33.1%). Equity is negative, so liabilities exceed assets.
What is the liquidity of THORLEIF AAS AS like?
The current ratio was 6.65 in 2025 (median 1.42).
How does THORLEIF AAS AS compare in Bygg og anlegg?
THORLEIF AAS AS ranks 17,482 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Micro it is number 10,897 of 12,950. Revenue changed by −12.0% from the year before.
From the Central Coordinating Register
- Org. no.
- 910052845
- Legal form
- AS
- Sector
- Bygg og anlegg (43.120)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 14 October 1972 54 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Idrettsveien 34, 1870 ØRJE (MARKER)
- Municipality
- Marker rank 22–34 of 40 in KOSTRA group 1
- Audit
- Audit opted out from 2 July 2024
- Latest accounts filed
- 2025
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
- Chief executive
- Tor Eugen Aas
- Chief executive
- Lars Petter Aas
- Chair of the board
- Lars Petter Aas
- Board member
- Tor Eugen Aas
- Accountant
- IREGNSKAP AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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.
Figures last fetched 26 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 17 | 63 | 26 | |
| Rank | 16,449 | 5,232 | 17,482 | |
| Operating margin | −76.1% | 53.9% | −15.0% | |
| Return on assets | −76.8% | 42.2% | −12.9% | |
| Equity ratio | −37.8% | 4.5% | −15.8% | |
| Current ratio | 2.77 | 5.65 | 6.65 | |
| Revenue growth | – | 13.5% | −12.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.9 MNOK | 4.4 MNOK | 3.9 MNOK |
| Operating profit | −2.9 MNOK | 2.4 MNOK | −0.6 MNOK |
| Profit before tax | −3.1 MNOK | 2.2 MNOK | −0.8 MNOK |
| Net profit | −3.3 MNOK | 1.7 MNOK | −1.0 MNOK |
| Financial expenses | 0.1 MNOK | 0.2 MNOK | 0.2 MNOK |
| Total assets | 3.8 MNOK | 5.7 MNOK | 4.5 MNOK |
| Current assets | 2.0 MNOK | 4.8 MNOK | 3.9 MNOK |
| Equity | −1.5 MNOK | 0.3 MNOK | −0.7 MNOK |
| Retained earnings | −1.6 MNOK | 0.2 MNOK | −0.8 MNOK |
| Total liabilities | 5.3 MNOK | 5.4 MNOK | 5.2 MNOK |
| Current liabilities | 0.7 MNOK | 0.8 MNOK | 0.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6367095.
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