Midtnett AS
Score · fiscal year 2024
61of 100
How to read this: the company is ahead of 75 % of companies in the Morning class Medium in the same sector in 2024. What does this mean?
Rank in the Morning class Medium: 49 of 196 · What are Morning company classes?
Place in the whole sector: 224 of 853 · Kraft og energi
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 62 and solidity 74 out of 100 among companies in the Morning class Medium in the same sector in 2024. Methodology
Against the sector
Midtnett AS is 10 points above the median for companies in the Morning class Medium in the same sector in 2024.
Median score 51 among 196 companies.
Against companies in the Morning class Medium in the same sector in 2024: operating margin 21.0% (median 13.9%) and equity ratio 58.9% (median 43.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 182 MNOK | 126 MNOK |
| Operating margin | 21.0% | 13.9% |
| Profit margin | 16.4% | 11.3% |
| Return on assets | 6.8% | 5.9% |
| Equity ratio | 58.9% | 43.5% |
| Debt-to-equity | 0.70 | 1.26 |
| Current ratio | 0.69 | 1.16 |
| Revenue growth | 6.4% | −7.0% |
| Revenue per employee | 3.95 MNOK | 4.87 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 61, Midtnett AS does better than 75% of companies in the Morning class Medium in the same sector (196 companies) in 2024.
Score 2023–2025
- Midtnett AS
- Median: companies in the Morning class Medium in the same sector
What the numbers say
Midtnett AS had an operating margin of 21.0% and an equity ratio of 58.9% in 2024, and ranks 224 of 853 in Kraft og energi.
From 2023 to 2024: the equity ratio rose from 21.3% to 58.9% and the operating margin fell from 25.1% to 21.0%.
Midtnett AS did better than the sector in 2025, the sector's weakest year.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 149 MNOK and 341 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 232 MNOK |
| EV/EBIT | 8.0 | 149 MNOK |
| P/B | 1.0 | 341 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 1.4 times current assets.
Based on: Current ratio 0.69 (median 1.16).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.9% 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.
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
The operating margin was 20.8% in 2025 (sector median 15.7%), and the equity ratio 61.0%. In the other years the operating margin averaged 23.1%.
The sector's weakest year was 2025, with a median operating margin of 15.7%. Based on the 5 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 62 | weight 30% |
|---|---|---|
| Solidity | 74 | weight 25% |
| Liquidity | 22 | weight 15% |
| Growth | 70 | weight 15% |
| Consistency | 65 | weight 15% |
Durability: 45 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Midtnett AS?
The operating margin was 21.0% in 2024, against a median of 13.9% among companies in the Morning class Medium in the same sector. Return on assets was 6.8%.
How solid is Midtnett AS?
The equity ratio was 58.9% in 2024 (median 43.5%). Debt-to-equity was 0.70 (median 1.26).
What is the liquidity of Midtnett AS like?
The current ratio was 0.69 in 2024 (median 1.16). Current assets did not cover current liabilities.
How does Midtnett AS compare in Kraft og energi?
Midtnett AS ranks 224 of 853 in Kraft og energi for 2024. Among companies in the Morning class Medium it is number 49 of 196. Revenue changed by 6.4% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
- 917856222
- Legal form
- AS · part of a group
- Sector
- Kraft og energi (35.140)
- Morning company class
- Medium
- Employees
- 46 registered 10 September 2026
- Founded
- 3 October 2016 10 years in operation
- Share capital
- 10.00 MNOK
- Business address
- Øvre Nedmarken 15, 3370 VIKERSUND (MODUM)
- Municipality
- Modum rank 12–25 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
- Website
- www.midtnett.no
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
- Chief executive
- Bjørg Hvidsten
- Chair of the board
- John Arne Haugerud
- Board member
- Anne Catherine Grøterud
- Board member
- Ingunn Dalaker Øderud
- Board member
- Per Bye
- Board member
- Øyvind Skikstein
- Board member
- Øyvin Gravermoen
- Board member
- Anne Kristine Norman
- Board member
- Svein Aannestad
- Board member
- Torstein Aasen
- Board member
- Ann Kristin Lislien
- Deputy member
- Runolv Stegane
- Deputy member
- Kine Marie Dahl
- Deputy member
- Ingunn Krag-Rønne
- Deputy member
- Ken Hellum Halvorsen
- Deputy member
- Robert Bekken
- Deputy member
- Erik Bjørkesett
- Deputy member
- Arne Løvlid
- Deputy member
- Berit Kauserud
- Deputy member
- Emil Næss
- Deputy member
- Hege Gudbrandsen Eizenberger
- Auditor
- Cedra Norge 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 | 30 | 61 | 59 | |
| Rank | 697 | 224 | 265 | |
| Operating margin | 25.1% | 21.0% | 20.8% | |
| Return on assets | 8.0% | 6.8% | 6.9% | |
| Equity ratio | 21.3% | 58.9% | 61.0% | |
| Current ratio | 0.20 | 0.69 | 0.71 | |
| Revenue growth | – | 6.4% | 5.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 170.6 MNOK | 181.5 MNOK | 192.0 MNOK |
| Operating profit | 42.8 MNOK | 38.2 MNOK | 39.8 MNOK |
| Profit before tax | 35.7 MNOK | 29.8 MNOK | 32.6 MNOK |
| Net profit | 27.8 MNOK | 23.2 MNOK | 25.3 MNOK |
| Financial expenses | 8.1 MNOK | 9.3 MNOK | 9.0 MNOK |
| Total assets | 544.9 MNOK | 578.9 MNOK | 599.0 MNOK |
| Current assets | 53.0 MNOK | 55.4 MNOK | 53.2 MNOK |
| Equity | 116.2 MNOK | 340.9 MNOK | 365.4 MNOK |
| Retained earnings | 9.6 MNOK | 27.6 MNOK | 52.1 MNOK |
| Total liabilities | 428.7 MNOK | 238.0 MNOK | 233.6 MNOK |
| Current liabilities | 269.5 MNOK | 79.7 MNOK | 75.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 6078425.
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