Bjørgen Eiendom 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
Score · fiscal year 2025
38of 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: 6,262 of 8,332 · What are Morning company classes?
Place in the whole sector: 8,468 of 11,168 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 40 and resilience 21 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Bjørgen Eiendom AS is 12 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 8,329 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 37.9% (median 45.6%) and equity ratio −6.1% (median 25.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 3 MNOK |
| Operating margin | 37.9% | 45.6% |
| Profit margin | −17.5% | 20.2% |
| Return on assets | 5.4% | 7.5% |
| Equity ratio | −6.1% | 25.1% |
| Debt-to-equity | – | 2.35 |
| Current ratio | 6.17 | 1.37 |
| Revenue growth | 11.3% | 3.1% |
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 38, Bjørgen Eiendom AS does better than 25% of companies in the Morning class Micro in the same sector (8,332 companies) in 2025.
Score 2023–2025
- Bjørgen Eiendom AS
- Median: companies in the Morning class Micro in the same sector
Bjørgen Eiendom AS has a score of 38 for 2025, rank 8,468 of 11,168 in the sector.
Strongest: Liquidity: percentile 83 against peers, current ratio 6.17 against a median of 1.37.
Weakest: Solidity: percentile 0 against peers, equity ratio −6.1% against a median of 25.1%. Consistency: percentile 33 against peers.
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 −6.1% (median 25.1%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −17.5% (median 20.2%).
- What lies behind weak solidity, and will it last?
- What lies behind weak consistency, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Bjørgen Eiendom AS rose by 0.7 percentage points. Comparable companies rose by a median 1.3 points. So the company did 0.5 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Bjørgen Eiendom AS moved the same way as comparable companies 1 times. About 43% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 37.2% | 44.3% | −1.4 percentage points | +0.7 percentage points | −2.1 percentage points |
| 2025 | 37.9% | 45.6% | +0.7 percentage points | +1.3 percentage points | −0.5 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 Bjørgen Eiendom AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Bjørgen Eiendom AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | 38.6% | 37.2% | 37.9% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Bjørgen Eiendom AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (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 | – | – | 38.6% | 37.2% | 37.9% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Bjørgen Eiendom AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | 38.6% | 37.2% | 37.9% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Bjørgen Eiendom AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| The company's operating margin | – | – | 38.6% | 37.2% | 37.9% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Bjørgen Eiendom AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | 38.6% | 37.2% | 37.9% | – |
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.
What the numbers say
Bjørgen Eiendom AS had an operating margin of 37.9% and an equity ratio of −6.1% in 2025, and ranks 8,468 of 11,168 in Eiendom.
From 2024 to 2025: revenue grew by 11%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 7 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | not meaningful |
| EV/EBIT | 19.2 | 7 MNOK |
| P/B | 0.7 | not meaningful |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 11 MNOK |
| Enterprise value after the size adjustment | 7 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 7 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (68.2): R.E.I.T..
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
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 −6.1% (median 25.1%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −17.5% (median 20.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 7.4% 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 12.0%. 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 | 40 | weight 40% |
|---|---|---|
| Solidity | 0 | weight 20% |
| Liquidity | 83 | weight 5% |
| Growth | 60 | weight 25% |
| Consistency | 33 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 32 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Bjørgen Eiendom AS?
The operating margin was 37.9% in 2025, against a median of 45.6% among companies in the Morning class Micro in the same sector. Return on assets was 5.4%. The company made a loss before tax.
How solid is Bjørgen Eiendom AS?
The equity ratio was −6.1% in 2025 (median 25.1%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Bjørgen Eiendom AS like?
The current ratio was 6.17 in 2025 (median 1.37).
How does Bjørgen Eiendom AS compare in Eiendom?
Bjørgen Eiendom AS ranks 8,468 of 11,168 in Eiendom for 2025. Among companies in the Morning class Micro it is number 6,262 of 8,332. Revenue changed by 11.3% from the year before.
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.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| VALDMANIS & CO AS |  Cheetah |
2 MNOK | 59.3% | 49 |
| H C Finne Jr AS |  Lion |
2 MNOK | 88.0% | 75 |
| Steinkjerbygg AS |  Beaver |
2 MNOK | −19.9% | 37 |
| Tveita AS |  Elephant |
2 MNOK | 3.3% | 51 |
| Ko&Ko Invest AS | Cheetah |
2 MNOK | 57.2% | 45 |
| Bjørgen Eiendom AS (this company) | Beaver |
2 MNOK | 37.9% | 38 |
| Strandkaien 34 AS | Cheetah |
2 MNOK | 53.5% | 42 |
| AS TOCA | Elephant |
2 MNOK | 5.1% | 44 |
| Oblix Invest AS | Lion |
2 MNOK | 87.1% | 81 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Group structure · 2025
2 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 60% of the shares in KA Bjørgen Holding AS. Persons are not shown by name.
KA Bjørgen Holding AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Eiendom (2 companies) 2 of 2 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Negative equity
- 1 company: Bjørgen Eiendom AS
- Loss
- 2 companies: Bjørgen Eiendom AS, KA Bjørgen Holding AS
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.
-
KA Bjørgen Holding AS
- Bjørgen Eiendom AS you are here
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.
From the Central Coordinating Register
- Org. no.
- 915550827
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 11 June 2015 11 years in operation
- Share capital
- 1.03 MNOK
- Business address
- 2. etasje, Moøya 40, 7290 STØREN (MIDTRE GAULDAL)
- Municipality
- Midtre Gauldal rank 15–34 of 40 in KOSTRA group 1
- Audit
- Audit opted out from 17 June 2015
- 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 2 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: KA Bjørgen Holding AS (100%)
Ultimate owner: private person
The owner: the majority owner KA Bjørgen Holding 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.
- KA Bjørgen Holding AS · 100.0%
The company is new in the shareholder register in 2025.
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.
Is this your company? Suggest changes or add information
Figures last fetched 31 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 30 | 28 | 38 | |
| Rank | 8,732 | 9,710 | 8,468 | |
| Operating margin | 38.6% | 37.2% | 37.9% | |
| Return on assets | 5.0% | 4.7% | 5.4% | |
| Equity ratio | −0.4% | −4.1% | −6.1% | |
| Current ratio | 13.58 | 11.28 | 6.17 | |
| Revenue growth | – | −8.9% | 11.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.6 MNOK | 1.4 MNOK | 1.6 MNOK |
| Operating profit | 0.6 MNOK | 0.5 MNOK | 0.6 MNOK |
| Profit before tax | −0.2 MNOK | −0.5 MNOK | −0.3 MNOK |
| Tax expense | 0.0 MNOK | −0.1 MNOK | −0.1 MNOK |
| Net profit | −0.2 MNOK | −0.4 MNOK | −0.2 MNOK |
| Financial expenses | 0.8 MNOK | 1.1 MNOK | 0.9 MNOK |
| Total assets | 12.2 MNOK | 11.5 MNOK | 11.1 MNOK |
| Current assets | 0.6 MNOK | 0.4 MNOK | 0.6 MNOK |
| Equity | −0.1 MNOK | −0.5 MNOK | −0.7 MNOK |
| Retained earnings | −1.1 MNOK | −1.5 MNOK | −1.7 MNOK |
| Total liabilities | 12.3 MNOK | 11.9 MNOK | 11.8 MNOK |
| Current liabilities | 0.0 MNOK | 0.0 MNOK | 0.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 31 October 2026, accounts id 6638693.
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