W. GIERTSEN AS
Score · fiscal year 2024
41of 100
How to read this: the company is ahead of 34 % of small companies in the same sector in 2024. What does this mean?
Rank: 20,736 of 31,119 · Bygg og anlegg
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 35 and solidity 66 out of 100 among small companies in the same sector in 2024. Methodology
Against the sector
W. GIERTSEN AS is 9 points below the median for small companies in the same sector in 2024.
Median score 50 among 30,023 companies.
Against small companies in the same sector in 2024: operating margin −4.9% (median 3.8%) and equity ratio 57.4% (median 36.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 17 MNOK | 3 MNOK |
| Operating margin | −4.9% | 3.8% |
| Profit margin | 11.9% | 3.4% |
| Return on assets | 5.0% | 5.8% |
| Equity ratio | 57.4% | 36.8% |
| Debt-to-equity | 0.74 | 1.19 |
| Current ratio | 0.52 | 1.45 |
| Revenue growth | −37.7% | 1.8% |
The median and “ahead of” refer to small companies in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 41, W. GIERTSEN AS does better than 34% of small companies in the same sector (30,094 companies) in 2024.
Score 2023–2025
- W. GIERTSEN AS
- Median: small companies in the same sector
What the numbers say
W. GIERTSEN AS had an operating margin of −4.9% and an equity ratio of 57.4% in 2024, and ranks 20,736 of 31,119 in Bygg og anlegg.
From 2023 to 2024: the operating margin fell from 38.5% to −4.9% and revenue fell by 38%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 23 MNOK and 69 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 23 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 69 MNOK |
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
- watch
Consider strengthening liquidity: current liabilities are 1.9 times current assets.
Based on: Current ratio 0.52 (median 1.45).
- 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 −4.9% (median 3.8%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.8% of the debt in 2024. The policy rate averaged 4.50 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
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 2.4%. 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 | 35 | weight 30% |
|---|---|---|
| Solidity | 66 | weight 25% |
| Liquidity | 14 | weight 15% |
| Growth | 13 | weight 15% |
| Consistency | 69 | weight 15% |
Durability: 54 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is W. GIERTSEN AS?
The operating margin was −4.9% in 2024, against a median of 3.8% among small companies in the same sector. Return on assets was 5.0%.
How solid is W. GIERTSEN AS?
The equity ratio was 57.4% in 2024 (median 36.8%). Debt-to-equity was 0.74 (median 1.19).
What is the liquidity of W. GIERTSEN AS like?
The current ratio was 0.52 in 2024 (median 1.45). Current assets did not cover current liabilities.
How does W. GIERTSEN AS compare in Bygg og anlegg?
W. GIERTSEN AS ranks 20,736 of 31,119 in Bygg og anlegg for 2024. Among companies of the same size (small companies) it ranks 19,988 of 30,094. Revenue changed by −37.7% from the year before.
Group accounts · 2025
2 of 100
Rank 1208 of 1210 groups with group accounts. Groups are ranked only against each other, not against single companies.
| Key figure | The group | The company alone (2024) |
|---|---|---|
| Operating margin | −27.0% | – |
| Return on assets | −54.3% | – |
| Equity ratio | −38.0% | – |
| Current ratio | 0.41 | – |
| Revenue growth | −41.4% | – |
Group index in earlier years: 2023: 34 (1169 of 1541), 2024: 30 (1045 of 1235).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
Read the figures with care: a company in a group can look strong because of group contributions, or weak because dividends go up to the parent. The figures are indications, not the full picture.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 911958821
- Legal form
- AS · part of a group
- Sector
- Bygg og anlegg (43.230)
- Size tier
- small
- Employees
- 0–4 (not registered)
- Founded
- 25 February 1922 104 years in operation
- Share capital
- 10.00 MNOK
- Business address
- Nygårdsviken 1, 5165 LAKSEVÅG (BERGEN)
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 636700SFPO9XMU40EA50 not renewed (lapsed)
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
- Chair of the board
- Hans Middelthon
- Board member
- Rikke De Besche Giertsen
- Board member
- Wilhelm Jens Giertsen
- Auditor
- PRICEWATERHOUSECOOPERS AS
- Accountant
- VKST 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 | 67 | 41 | 22 | |
| Rank | 6,471 | 20,736 | 28,533 | |
| Operating margin | 38.5% | −4.9% | −55.9% | |
| Return on assets | 14.2% | 5.0% | 4.4% | |
| Equity ratio | 56.1% | 57.4% | 15.8% | |
| Current ratio | 1.19 | 0.52 | 0.35 | |
| Revenue growth | – | −37.7% | −24.5% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 27.2 MNOK | 17.0 MNOK | 12.8 MNOK |
| Operating profit | 10.5 MNOK | −0.8 MNOK | −7.2 MNOK |
| Profit before tax | 8.4 MNOK | 2.0 MNOK | −46.9 MNOK |
| Net profit | 6.3 MNOK | 2.3 MNOK | −48.7 MNOK |
| Financial expenses | 8.5 MNOK | 4.0 MNOK | 51.6 MNOK |
| Total assets | 118.7 MNOK | 120.0 MNOK | 105.4 MNOK |
| Current assets | 31.9 MNOK | 23.3 MNOK | 29.5 MNOK |
| Equity | 66.6 MNOK | 68.9 MNOK | 16.7 MNOK |
| Retained earnings | 56.6 MNOK | 58.9 MNOK | 6.7 MNOK |
| Total liabilities | 52.1 MNOK | 51.1 MNOK | 88.7 MNOK |
| Current liabilities | 26.8 MNOK | 44.4 MNOK | 85.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6294609.
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