SUBSHORE.NO AS
Score · fiscal year 2025
37of 100
How to read this: the company is ahead of 19 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 253 of 313 · What are Morning company classes?
Place in the whole sector: 2,069 of 2,720 · Industri
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 37 and solidity 3 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
SUBSHORE.NO AS is 12 points below the median for companies in the Morning class Large in the same sector in 2025.
Median score 49 among 313 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 3.3% (median 6.2%) and equity ratio 6.3% (median 33.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 673 MNOK | 1,143 MNOK |
| Operating margin | 3.3% | 6.2% |
| Profit margin | 2.7% | 6.5% |
| Return on assets | 9.5% | 11.4% |
| Equity ratio | 6.3% | 33.2% |
| Debt-to-equity | 14.96 | 1.99 |
| Current ratio | 0.95 | 1.31 |
| Revenue growth | 99.1% | 7.2% |
| Revenue per employee | 0.96 MNOK | 6.01 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 37, SUBSHORE.NO AS does better than 19% of companies in the Morning class Large in the same sector (313 companies) in 2025.
Score 2023–2025
- SUBSHORE.NO AS
- Median: companies in the Morning class Large in the same sector
SUBSHORE.NO AS has a score of 37 for 2025, rank 2,069 of 2,720 in the sector.
Strongest: Growth: percentile 98 against peers, revenue growth 99.1% against a median of 7.2%.
Weakest: Solidity: percentile 3 against peers, equity ratio 6.3% against a median of 33.2%. Liquidity: percentile 18 against peers, current ratio 0.95 against a median of 1.31.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 6.3% (median 33.2%).
- Consider strengthening liquidity: current liabilities are 1.1 times current assets. Based on: current ratio 0.95 (median 1.31).
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 99.1% (median 7.2%); current ratio 0.95 (median 1.31).
- 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
SUBSHORE.NO AS had an operating margin of 3.3% and an equity ratio of 6.3% in 2025, and ranks 2,069 of 2,720 in Industri.
From 2024 to 2025: revenue grew by 99% and the equity ratio fell from 11.7% to 6.3%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 15 MNOK and 271 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 140 MNOK |
| EV/EBIT | 8.0 | 271 MNOK |
| P/B | 1.0 | 15 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 equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 6.3% (median 33.2%).
- watch
Consider strengthening liquidity: current liabilities are 1.1 times current assets.
Based on: Current ratio 0.95 (median 1.31).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 99.1% (median 7.2%); Current ratio 0.95 (median 1.31).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.0% 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 0.0%. 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 | 37 | weight 30% |
|---|---|---|
| Solidity | 3 | weight 25% |
| Liquidity | 18 | weight 15% |
| Growth | 98 | weight 15% |
| Consistency | 52 | weight 15% |
Durability: 29 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is SUBSHORE.NO AS?
The operating margin was 3.3% in 2025, against a median of 6.2% among companies in the Morning class Large in the same sector. Return on assets was 9.5%.
How solid is SUBSHORE.NO AS?
The equity ratio was 6.3% in 2025 (median 33.2%). Debt-to-equity was 14.96 (median 1.99).
What is the liquidity of SUBSHORE.NO AS like?
The current ratio was 0.95 in 2025 (median 1.31). Current assets did not cover current liabilities.
How does SUBSHORE.NO AS compare in Industri?
SUBSHORE.NO AS ranks 2,069 of 2,720 in Industri for 2025. Among companies in the Morning class Large it is number 253 of 313. Revenue changed by 99.1% from the year before.
Group accounts · 2025
47 of 100
Rank 27 of 45 groups in the Morning class Large in Industri. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 804 MNOK
- Operating profit, group
- 42 MNOK
- Profit before tax, group
- 34 MNOK
- Total assets, group
- 284 MNOK
- Equity, group
- 43 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 5.3% | 3.3% |
| Return on assets | 15.1% | 9.5% |
| Equity ratio | 15.2% | 6.3% |
| Current ratio | 1.19 | 0.95 |
| Revenue growth | 70.0% | 99.1% |
Group index in earlier years: 2023: 18 (53 of 60), 2024: 51 (24 of 49).
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).
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 912211843
- Legal form
- AS
- Sector
- Industri (25.110)
- Morning company class
- Large
- Employees
- 700 registered 10 October 2026
- Founded
- 21 June 2013 13 years in operation
- Share capital
- 0.50 MNOK
- Business address
- Eldøyane 177, 5411 STORD
- Municipality
- Stord rank 6–23 of 38 in KOSTRA group 7
- 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
Loading roles …
Source: Central Coordinating Register, fetched 31 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 30 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 15 | 34 | 37 | |
| Rank | 2,448 | 2,141 | 2,069 | |
| Operating margin | 1.2% | 3.5% | 3.3% | |
| Return on assets | 3.3% | 9.4% | 9.5% | |
| Equity ratio | 6.7% | 11.7% | 6.3% | |
| Current ratio | 1.03 | 1.01 | 0.95 | |
| Revenue growth | – | 10.1% | 99.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 306.8 MNOK | 338.0 MNOK | 672.7 MNOK |
| Operating profit | 3.6 MNOK | 11.8 MNOK | 21.9 MNOK |
| Profit before tax | 1.7 MNOK | 9.3 MNOK | 18.0 MNOK |
| Net profit | 1.7 MNOK | 7.3 MNOK | 14.0 MNOK |
| Financial expenses | 2.0 MNOK | 2.6 MNOK | 4.4 MNOK |
| Total assets | 112.3 MNOK | 126.3 MNOK | 235.7 MNOK |
| Current assets | 95.2 MNOK | 93.4 MNOK | 198.8 MNOK |
| Equity | 7.5 MNOK | 14.7 MNOK | 14.8 MNOK |
| Retained earnings | 7.0 MNOK | 14.2 MNOK | 14.3 MNOK |
| Total liabilities | 104.8 MNOK | 111.5 MNOK | 220.9 MNOK |
| Current liabilities | 92.8 MNOK | 92.5 MNOK | 210.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 7103951.
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