Waarco AS
Score · fiscal year 2025
39of 100
How to read this: the company is ahead of 25 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 4,211 of 5,647 · What are Morning company classes?
Place in the whole sector: 5,380 of 7,174 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 36 and solidity 29 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Waarco AS is 10 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 5,646 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 48.9% (median 48.2%) and equity ratio 13.5% (median 27.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3 MNOK | 2 MNOK |
| Operating margin | 48.9% | 48.2% |
| Profit margin | −31.3% | 23.7% |
| Return on assets | 3.3% | 7.8% |
| Equity ratio | 13.5% | 27.0% |
| Debt-to-equity | 6.43 | 2.20 |
| Current ratio | 17.37 | 1.41 |
| Revenue growth | −1.4% | 3.0% |
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 39, Waarco AS does better than 25% of companies in the Morning class Micro in the same sector (5,647 companies) in 2025.
Score 2023–2025
- Waarco AS
- Median: companies in the Morning class Micro in the same sector
Waarco AS has a score of 39 for 2025, rank 5,380 of 7,174 in the sector.
Strongest: Liquidity: percentile 93 against peers, current ratio 17.37 against a median of 1.41.
Weakest: Consistency: percentile 23 against peers. Growth: percentile 24 against peers, revenue growth −1.4% against a median of 3.0%.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −31.3% (median 23.7%).
- What lies behind weak consistency, and will it last?
- What lies behind weak growth, 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
Waarco AS had an operating margin of 48.9% and an equity ratio of 13.5% in 2025, and ranks 5,380 of 7,174 in Eiendom.
From 2024 to 2025: the operating margin fell from 60.0% to 48.9% and the equity ratio fell from 27.5% to 13.5%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 6 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | debt above value |
| P/B | 1.0 | 6 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
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −31.3% (median 23.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.1% 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
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 31.0%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 36 | weight 30% |
|---|---|---|
| Solidity | 29 | weight 25% |
| Liquidity | 93 | weight 15% |
| Growth | 24 | weight 15% |
| Consistency | 23 | weight 15% |
Durability: 46 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Waarco AS?
The operating margin was 48.9% in 2025, against a median of 48.2% among companies in the Morning class Micro in the same sector. Return on assets was 3.3%. The company made a loss before tax.
How solid is Waarco AS?
The equity ratio was 13.5% in 2025 (median 27.0%). Debt-to-equity was 6.43 (median 2.20).
What is the liquidity of Waarco AS like?
The current ratio was 17.37 in 2025 (median 1.41).
How does Waarco AS compare in Eiendom?
Waarco AS ranks 5,380 of 7,174 in Eiendom for 2025. Among companies in the Morning class Micro it is number 4,211 of 5,647. Revenue changed by −1.4% from the year before.
From the Central Coordinating Register
- Org. no.
- 911997290
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 23 April 2013 13 years in operation
- Share capital
- 6.37 MNOK
- Business address
- c/o Grov, Kuholmsveien 127, 4632 KRISTIANSAND S
- Municipality
- Kristiansand rank 2–6 of 11 in KOSTRA group 12
- 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
- Chair of the board
- Walter Ludvik Grov
- Board member
- Cornelis Arie Verkerk
- Auditor
- Revisjonsfirma Eliassen AS
- Accountant
- IT Regnskap AS
Source: Central Coordinating Register, fetched 2 November 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 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 55 | 44 | 39 | |
| Rank | 2,571 | 4,417 | 5,380 | |
| Operating margin | 60.3% | 60.0% | 48.9% | |
| Return on assets | 4.1% | 3.9% | 3.3% | |
| Equity ratio | 29.1% | 27.5% | 13.5% | |
| Current ratio | 9.35 | 3.79 | 17.37 | |
| Revenue growth | – | −1.7% | −1.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2.7 MNOK | 2.7 MNOK | 2.7 MNOK |
| Operating profit | 1.7 MNOK | 1.6 MNOK | 1.3 MNOK |
| Profit before tax | −0.2 MNOK | −0.6 MNOK | −0.8 MNOK |
| Net profit | −0.2 MNOK | −0.4 MNOK | −0.7 MNOK |
| Financial expenses | 1.9 MNOK | 2.2 MNOK | 2.2 MNOK |
| Total assets | 40.5 MNOK | 41.3 MNOK | 42.2 MNOK |
| Current assets | 4.4 MNOK | 5.8 MNOK | 7.2 MNOK |
| Equity | 11.8 MNOK | 11.3 MNOK | 5.7 MNOK |
| Retained earnings | 2.3 MNOK | 1.8 MNOK | −0.7 MNOK |
| Total liabilities | 28.7 MNOK | 29.9 MNOK | 36.5 MNOK |
| Current liabilities | 0.5 MNOK | 1.5 MNOK | 0.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7115299.
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