Ferdocean Technology AS

Org. no. 912402355 · Stavanger · 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

Key facts

Employees 19 registered 10 April 2026
Operating revenue · 2025 221.8 MNOK Medium
Net profit · 2025 −6.8 MNOK
Equity · 2025 66.5 MNOK
Founded 2013 13 years in operation
Quick check · fiscal year 2025

Is the company run well?

Five key figures against companies in the Morning class Medium in the same sector. Green is better than most, amber about like the industry and red weaker than most.

  • Profitability · operating margin −2.8% Weaker than the industry Industry: 4.6%
  • Returns · return on assets 2.8% Weaker than the industry Industry: 10.7%
  • Solidity · equity ratio 24.9% About like the industry Industry: 21.8%
  • Liquidity · current ratio 0.95 Weaker than the industry Industry: 1.19
  • Growth · revenue growth −13.4% Weaker than the industry Industry: 7.8%

The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology

Score · fiscal year 2025

32of 100

How to read this: the company is ahead of 15 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?

Rank in the Morning class Medium: 528 of 624 · What are Morning company classes?
Place in the whole sector: 5,076 of 6,322 · Forretningsmessig tjenesteyting

Profile

Beaver · Builder

Lower profitability, lower resilience

Position against comparable companies in 2025, not a verdict on the company. Based on profitability 15 and resilience 49 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology

Against the sector

Ferdocean Technology AS is 19 points below the median for companies in the Morning class Medium in the same sector in 2025.

Median score 51 among 624 companies.

Against companies in the Morning class Medium in the same sector in 2025: operating margin −2.8% (median 4.6%) and equity ratio 24.9% (median 21.8%).

Source: Register of Company Accounts and Central Coordinating RegisterFetched 30 October 2026Report an issue
Development

How it has gone · 2023–2025

Revenue is about the same: 221.8 MNOK in 2025 against 223.9 MNOK in 2023. The operating margin fell from −0.7% in 2023 to −2.8% in 2025. The equity ratio fell from 26.3% in 2023 to 24.9% in 2025.

Score · 2025 32 −7 points since 2023 (weaker)
Operating revenue · 2025 221.8 MNOK about the same since 2023
Net profit · 2025 −6.8 MNOK from −0.1 MNOK in 2023 (weaker)
Operating margin · 2025 −2.8% −2.1 pp since 2023 (weaker)
Equity ratio · 2025 24.9% −1.4 pp since 2023 (weaker)
Current ratio · 2025 0.95 −0.38 since 2023 (weaker)

Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year

Accounts in short

Key figure202320242025
Operating revenue223.9 MNOK256.1 MNOK221.8 MNOK
Operating profit−1.6 MNOK−8.7 MNOK−6.2 MNOK
Net profit−0.1 MNOK11.5 MNOK−6.8 MNOK
Total assets240.3 MNOK282.2 MNOK266.6 MNOK
Equity63.2 MNOK73.4 MNOK66.5 MNOK
Total liabilities177.1 MNOK208.8 MNOK200.1 MNOK

From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year

From the Central Coordinating Register

Org. no.
912402355
Legal form
AS · part of a group
Sector
Forretningsmessig tjenesteyting (77.390)
Purpose
Salg, utleie, design, engineering, produksjon, leveranse, drift og markedsføring av teknologi knyttet til håndtering av ulike typer industrielt avfall og annet relevant materiale. Utvikle konsepter, produkter og tjenester innenfor miljøprodukter og energi. Handels- og entreprenørvirksomhet innen samme produktområder, rådgivning og laboratorieanalyser. Selskapet kan investere i andre selskaper med lignende formål og andre selskaper for å oppfylle formålet til selskapet.
Morning company class
Medium
Employees
19 registered 10 April 2026
Founded
16 August 2013 13 years in operation
Share capital
1.03 MNOK
Business address
Breivikveien 29C, 4014 STAVANGER
Municipality
Stavanger rank 5 of 11 in KOSTRA group 12
COVID support
1.2 MNOK from the compensation scheme, 6 grants (2021–2022). The largest grant was for januar–februar 2021, when revenue was 85% lower than before the pandemic.
Latest accounts filed
2025
VAT registered
Yes
Former names
Eagle Technology AS until 2026, Rena Quality Group AS until 2023, Rena Technology AS until 2017 and 1 more
The company's business municipality, Stavanger. The map shows the municipality, not the address. Map source: Kartverket (CC BY 4.0).

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

Summary analysis

Ferdocean Technology AS has a score of 32 for 2025, rank 5,076 of 6,322 in the sector.

Strongest: Solidity: percentile 54 against peers, equity ratio 24.9% against a median of 21.8%.

Weakest: Profitability: percentile 15 against peers, operating margin −2.8% against a median of 4.6%. Liquidity: percentile 24 against peers, current ratio 0.95 against a median of 1.19.

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Indications · 2025

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) −0.4 (median 6.1); Financial costs as a share of debt 7.5% (median 1.6%).

  • watch

    Consider strengthening liquidity: current liabilities are 1.0 times current assets.

    Based on: Current ratio 0.95 (median 1.19).

  • watch

    The company made a loss before tax. Are these one-off items or a pattern?

    Based on: Profit margin −3.4% (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 −2.8% (median 4.6%).

  • watch

    Current liabilities exceed current assets other than bank deposits, and the current ratio is weak. Is it customer prepayments and supplier credit that fund the operations, or short-term loans that must be renewed?

    Based on: Net working capital to revenue −3.5% (median −4.7%); Current ratio 0.95 (median 1.19).

Indications based on the latest annual accounts from open data. Not investment or financial advice.

Financial costs were 7.5% 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.

Stress test · 2021

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 0.4%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology

Components · 2025

What the score is made of

Profitability15 weight 40%
Solidity54 weight 20%
Liquidity24 weight 5%
Growth34 weight 25%
Consistency53 weight 10%

Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?

Durability: 37 (average over 3 years)

Index version 3. Data completeness 100%: the share of the weights that had data.

Key figures · 2025

The numbers behind the score

The numbers behind the score · 2025
MeasureCompanyMedianAhead of
Operating revenue222 MNOK104 MNOK
Operating margin −2.8% 4.6% 10 %
Profit margin −3.4% 4.5% shown, not part of the index
Return on assets 2.8% 10.7% 20 %
Equity ratio 24.9% 21.8% 55 %
Debt-to-equity 3.01 3.28 53 %
Current ratio 0.95 1.19 24 %
Revenue growth −13.4% 7.8% 12 %
Revenue per employee11.67 MNOK2.31 MNOK

The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.

With an index of 32, Ferdocean Technology AS does better than 15% of companies in the Morning class Medium in the same sector (624 companies) in 2025.

Over time

Score 2023–2025

CompanyMedian0255075100202320242025
  • Ferdocean Technology AS
  • Median: companies in the Morning class Medium in the same sector
Working capital and debt · 2025

Working capital and debt

Working capital and debt · 2025
MeasureCompanyMedianHigher than
Working capital
Receivable days
All current receivables, including those on group companies, in days of revenue.
91 days 73 days 63 %
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.
7 days 0 days 87 %
Net working capital to revenue
Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations.
−3.5% −4.7% 56 %
Cash share of current assets
How much of the short-term buffer is bank deposits and cash.
7.4% 30.0% 22 %
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.
−0.4 6.1 14 %
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.
7.5% 1.6% 90 %
Long-term share of debt
Long-term debt as a share of all debt. A low share means more falls due within a year.
66.4% 18.1% 77 %

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): −7.8 MNOK.

Of the financial costs of 15.0 MNOK, 10.5 MNOK is reported as interest costs in the accounts.

The median and the bar refer to companies in the Morning class Medium 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.

The industry or the company: what drove the result?

In 2025 the operating margin of Ferdocean Technology AS rose by 0.6 percentage points. Comparable companies rose by a median 0.4 points. So the company did 0.2 points better than the industry, for reasons of its own.

Over 2 year-to-year changes Ferdocean Technology AS moved the same way as comparable companies 1 times. About 18% of the changes in operating margin were common to the industry; the rest was the company's own.

The operating margin of Ferdocean Technology AS against comparable companies, year by year
YearThe companyComparable (median) Change, companyChange, industryThe company's own
2024−3.4%4.2% −2.7 percentage points −0.2 percentage points −2.5 percentage points
2025−2.8%4.6% +0.6 percentage points +0.4 percentage points +0.2 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 Ferdocean Technology AS. The figures stand side by side; we claim no cause.

Service prices: business support services (indeks (2021 = 100))

Service prices: business support services rose 3.8% in 2025; the operating margin of Ferdocean Technology AS rose 0.6 percentage points.

Service prices: business support services per year and the operating margin of Ferdocean Technology AS
Measure202120222023202420252026
Service prices: business support services, annual average100.0104.9111.1116.9121.3122.3 (so far)
Change from the year before–+4.9%+5.9%+5.2%+3.8%+0.8%
The company's operating margin––−0.7%−3.4%−2.8%–

Source: SSB (14335, CC BY 4.0). Source

Turnover index: administrative and support services (indeks (2021 = 100))

Turnover index: administrative and support services rose 5.8% in 2025; the operating margin of Ferdocean Technology AS rose 0.6 percentage points.

Turnover index: administrative and support services per year and the operating margin of Ferdocean Technology AS
Measure202120222023202420252026
Turnover index: administrative and support services, annual average99.5117.4126.0130.8138.4141.3 (so far)
Change from the year before+5.3%+17.9%+7.4%+3.8%+5.8%+2.1%
The company's operating margin––−0.7%−3.4%−2.8%–

Source: SSB (13863, CC BY 4.0). Source

Consumer price index (indeks (2025 = 100))

Consumer price index rose 3.0% in 2025; the operating margin of Ferdocean Technology AS rose 0.6 percentage points.

Consumer price index per year and the operating margin of Ferdocean Technology AS
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0103.0 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+3.0%
The company's operating margin––−0.7%−3.4%−2.8%–

Source: SSB (14710, CC BY 4.0). Source

Policy rate (prosent)

Policy rate fell 0.20 percentage points in 2025; the operating margin of Ferdocean Technology AS rose 0.6 percentage points.

Policy rate per year and the operating margin of Ferdocean Technology AS
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (so far)
Change from the year before−0.28 percentage points+1.24 percentage points+2.22 percentage points+0.96 percentage points−0.20 percentage points−0.12 percentage points
The company's operating margin––−0.7%−3.4%−2.8%–

Source: Norges Bank (IR, NLOD 2.0). Source

Wage index: business support services (indeks)

Wage index: business support services rose 5.7% in 2025; the operating margin of Ferdocean Technology AS rose 0.6 percentage points.

Wage index: business support services per year and the operating margin of Ferdocean Technology AS
Measure202120222023202420252026
Wage index: business support services, annual average81.585.589.794.8100.3106.3 (so far)
Change from the year before+3.5%+4.9%+4.9%+5.7%+5.7%+6.0%
The company's operating margin––−0.7%−3.4%−2.8%–

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.

Analysis · 2025

What the numbers say

Ferdocean Technology AS had an operating margin of −2.8% and an equity ratio of 24.9% in 2025, and ranks 5,076 of 6,322 in Forretningsmessig tjenesteyting.

From 2024 to 2025: went from a profit to a loss before tax and revenue fell by 13%.

This text is generated automatically from the 2025 accounts.

Estimated value · 2025

Three simple methods

The methods give between 18 MNOK and 122 MNOK.

MethodInputMultipleListed basisEstimate
P/E Net profit (mean 2023–2025): 1.5 MNOK 17.3 26 MNOK 18 MNOK
EV/EBIT Operating profit (mean 2023–2025): −5.5 MNOK 14.1 – not meaningful
P/B Equity: 66.5 MNOK 2.7 179 MNOK 122 MNOK

The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 3% on the cost of equity gives a value 32% 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: Business & Consumer Services, Office Equipment & Services.

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

2025

Questions and answers

How profitable is Ferdocean Technology AS?

The operating margin was −2.8% in 2025, against a median of 4.6% among companies in the Morning class Medium in the same sector. Return on assets was 2.8%. The company made a loss before tax.

How solid is Ferdocean Technology AS?

The equity ratio was 24.9% in 2025 (median 21.8%). Debt-to-equity was 3.01 (median 3.28).

What is the liquidity of Ferdocean Technology AS like?

The current ratio was 0.95 in 2025 (median 1.19). Current assets did not cover current liabilities.

How does Ferdocean Technology AS compare in Forretningsmessig tjenesteyting?

Ferdocean Technology AS ranks 5,076 of 6,322 in Forretningsmessig tjenesteyting for 2025. Among companies in the Morning class Medium it is number 528 of 624. Revenue changed by −13.4% from the year before.

2025

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.

Norwegian Offshore Rental AS: 76 / 66Intermoor AS: 3 / 36Ferdocean Technology AS: 15 / 49Zeppelin Energy Rental Norway AS: 37 / 88Evondos AS: 38 / 40Brubakken Rental AS: 71 / 34Høyde Teknikk AS: 57 / 44Neodrill AS: 67 / 70Tcr Norway AS: 72 / 3300252550507575100100Resilience, percentile against peers →↑ Profitability, percentile against peers

CompanyProfileOperating revenueOperating marginScore
Norwegian Offshore Rental AS Lion 332 MNOK 22.8% 62
Intermoor AS · same municipality Beaver 287 MNOK −27.1% 17
Ferdocean Technology AS (this company) Beaver 222 MNOK −2.8% 32
Zeppelin Energy Rental Norway AS Elephant 177 MNOK 4.0% 50
Evondos AS Beaver 151 MNOK 2.3% 43
Brubakken Rental AS Cheetah 139 MNOK 22.4% 45
Høyde Teknikk AS Cheetah 133 MNOK 12.5% 60
Neodrill AS Lion 125 MNOK 13.2% 52
Tcr Norway AS Cheetah 123 MNOK 5.9% 47

The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis

Group accounts · 2024

54 of 100

Rank 16 of 34 groups in the Morning class Medium in Forretningsmessig tjenesteyting. Groups are ranked only against other groups in the same sector and class, never against single companies.

Operating revenue, group
242 MNOK
Operating profit, group
20 MNOK
Profit before tax, group
13 MNOK
Total assets, group
356 MNOK
Equity, group
83 MNOK
Key figures in the group accounts against the company's own accounts
Key figureThe groupThe company alone (2025)
Operating margin8.5% –
Return on assets8.0% –
Equity ratio23.2% –
Current ratio1.78 –
Revenue growth– –

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 2024 (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.

Group structure · 2025

6 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.

Private persons own 65% of the shares in Eagle AS. Persons are not shown by name.

Group accounts. Eagle AS for 2025: index 37 of 100, number 62 of 87 groups. See the group accounts

The group in figures

Sectors
Forretningsmessig tjenesteyting (1 company), Eiendom (2 companies), Industri (3 companies) 6 of 6 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
Employees in Norway
36 in all. Stavanger 19, Oslo 17 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
Loss
4 companies: Ferdocean Technology AS, Eagle AS, Víxla AS, Eagle Newco AS
Changed 2024–2025
1 company left.

A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.

  • Eagle AS operating · index 40 · number 4954 of 7072 in Industri
    • Eagle Newco AS 79% owned · operating · Industri
      • Ferdocean Technology AS you are here 100% owned · operating · index 32 · number 5076 of 6322 in Forretningsmessig tjenesteyting
        • Rt-Eiendom AS 100% owned · operating · index 51 · number 14639 of 30137 in Eiendom
      • Víxla AS 100% owned · operating · Industri
    • Eagle Property AS 100% owned · operating · index 49 · number 15712 of 30137 in Eiendom

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.

Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.

Public contracts

Contracts awarded since 2024
1
Total awarded value since 2024
value not stated
1 contracts without a stated value are not in the total.
DateBuyerNotice ValueCPV
30 September 2024 Gassco AS Gas Inlet Filters value not stated 42510000

Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.

Dependence on public contracts

Awarded value in the year seen against revenue the same year. This is not a share of revenue: the value is the whole contract, often for several years, and it does not necessarily become revenue that year.

YearContracts Awarded valueRevenue Awarded value against revenue
2024 1 1 without value not stated 256.1 MNOK –

Largest public buyers since 2024

BuyerContracts ValueShare of value
Gassco AS1 not stated –
  • The value is the whole contract as stated by the buyer, often for several years.
  • Framework agreements are left out of the sums, since the value is a ceiling. Many frameworks are not marked in Doffin and may still be included.
  • Only awards where Doffin gives the company's organisation number.
  • Contracts without a stated value are counted but not summed.
  • An indication of dependence, not an accounting figure. End dates are rarely in the Doffin data.

Source: Doffin (DFØ), fetched 27 October 2026. Winners are matched on organisation number.

Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0

Ownership and roles

Loading roles …

Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.

Shareholders (2025)

Number of shareholders
1 (one owner)
Largest owner
100.0%
Split
companies 100% · private persons 0% · foreign 0%
Owned from the same municipality
100%
Group chain
Owned by: Eagle Newco AS (100%)
Ultimate owner: private person

The owner: the majority owner Eagle Newco AS (holds 100%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.

The company is new in the shareholder register in 2025.

Majority owner of: Rt-Eiendom AS (100%)

Holds shares in: Recuro AS (5%), Rt-Eiendom AS (100%)

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.

Report an issue

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Figures last fetched 30 October 2026.

Details

Year by year · 2023–2025

Key figure202320242025Trend
Index394032
Rank3,6854,0875,076
Operating margin−0.7%−3.4%−2.8%
Return on assets3.5%7.5%2.8%
Equity ratio26.3%26.0%24.9%
Current ratio1.331.090.95
Revenue growth–14.4%−13.4%

Accounts

From the Brønnøysund Register Centre, in the company's reporting currency (NOK).

Key figure202320242025
Operating revenue223.9 MNOK256.1 MNOK221.8 MNOK
Operating profit−1.6 MNOK−8.7 MNOK−6.2 MNOK
Profit before tax0.4 MNOK8.1 MNOK−7.5 MNOK
Tax expense0.5 MNOK−3.4 MNOK−0.6 MNOK
Net profit−0.1 MNOK11.5 MNOK−6.8 MNOK
Financial expenses8.1 MNOK13.2 MNOK15.0 MNOK
Total assets240.3 MNOK282.2 MNOK266.6 MNOK
Current assets89.1 MNOK93.7 MNOK64.2 MNOK
Equity63.2 MNOK73.4 MNOK66.5 MNOK
Retained earnings60.2 MNOK70.4 MNOK63.5 MNOK
Total liabilities177.1 MNOK208.8 MNOK200.1 MNOK
Current liabilities66.8 MNOK86.1 MNOK67.2 MNOK

Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 30 October 2026, accounts id 6982014.

News and announcements

From official sources: the Brønnøysund Register Centre, Oslo Børs NewsWeb and public agencies. We show the title, date and a link to the source. The link to a company, sector or municipality is automatic and may be wrong. Report a wrong link