G2 Ocean AS
Score · fiscal year 2023
24of 100
How to read this: the company is ahead of 17 % of companies in the Morning class Large in the same sector in 2023. What does this mean?
Rank in the Morning class Large: 60 of 72 · What are Morning company classes?
Place in the whole sector: 775 of 883 · Sjøfart
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 28 and solidity 18 out of 100 among companies in the Morning class Large in the same sector in 2023. Methodology
Against the sector
G2 Ocean AS is 27 points below the median for companies in the Morning class Large in the same sector in 2023.
Median score 51 among 72 companies.
Against companies in the Morning class Large in the same sector in 2023: operating margin 0.5% (median 6.0%) and equity ratio 9.9% (median 26.7%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 14,721 MNOK | 1,119 MNOK |
| Operating margin | 0.5% | 6.0% |
| Profit margin | 0.1% | 6.7% |
| Return on assets | 3.3% | 8.4% |
| Equity ratio | 9.9% | 26.7% |
| Debt-to-equity | 9.13 | 2.41 |
| Current ratio | 0.96 | 1.26 |
| Revenue growth | – | – |
| Revenue per employee | 241.33 MNOK | 3.91 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 24, G2 Ocean AS does better than 17% of companies in the Morning class Large in the same sector (72 companies) in 2023.
Score 2023–2025
- G2 Ocean AS
- Median: companies in the Morning class Large in the same sector
What the numbers say
G2 Ocean AS had an operating margin of 0.5% and an equity ratio of 9.9% in 2023, and ranks 775 of 883 in Sjøfart.
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 4 MUSD and 58 MUSD.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 4 MUSD |
| EV/EBIT | 8.0 | 58 MUSD |
| P/B | 1.0 | 21 MUSD |
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 9.9% (median 26.7%).
- watch
Consider strengthening liquidity: current liabilities are 1.0 times current assets.
Based on: Current ratio 0.96 (median 1.26).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.1% of the debt in 2023. The policy rate averaged 3.54 % 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
- watch Reports in a currency other than NOK
Scenario analysis: the sector's weakest year
We have no accounts for 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 6.1%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 28 | weight 30% |
|---|---|---|
| Solidity | 18 | weight 25% |
| Liquidity | 30 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 17 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is G2 Ocean AS?
The operating margin was 0.5% in 2023, against a median of 6.0% among companies in the Morning class Large in the same sector. Return on assets was 3.3%.
How solid is G2 Ocean AS?
The equity ratio was 9.9% in 2023 (median 26.7%). Debt-to-equity was 9.13 (median 2.41).
What is the liquidity of G2 Ocean AS like?
The current ratio was 0.96 in 2023 (median 1.26). Current assets did not cover current liabilities.
How does G2 Ocean AS compare in Sjøfart?
G2 Ocean AS ranks 775 of 883 in Sjøfart for 2023. Among companies in the Morning class Large it is number 60 of 72.
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.
- 918685677
- Legal form
- AS · part of a group
- Sector
- Sjøfart (50.201)
- Morning company class
- Large
- Employees
- 61 registered 10 September 2026
- Founded
- 1 March 2017 9 years in operation
- Share capital
- 119.88 MNOK
- Business address
- C. Sundts gate 17, 5004 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 5493007FSS62Q95IJV40 renews 28 December 2026
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 29 October 2026. Only names are shown.
- Parent company
- Parent not reported
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 29 October 2026. The parent is the one the company itself reported to GLEIF.
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 | 24 | 26 | 27 | |
| Rank | 775 | 853 | 903 | |
| Operating margin | 0.5% | 0.5% | 0.2% | |
| Return on assets | 3.3% | 3.5% | 1.8% | |
| Equity ratio | 9.9% | 6.3% | 12.9% | |
| Current ratio | 0.96 | 0.94 | 1.03 | |
| Revenue growth | – | −0.9% | −16.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (USD). Revenue in NOK is converted from USD at the mean rate for the accounting period 1 January 2023–31 December 2023: 10.5647 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in USD. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1,393.4 MUSD | 1,380.8 MUSD | 1,157.2 MUSD |
| Operating profit | 7.1 MUSD | 7.4 MUSD | 2.9 MUSD |
| Profit before tax | 1.2 MUSD | −0.1 MUSD | 2.9 MUSD |
| Net profit | 0.4 MUSD | −0.1 MUSD | 2.4 MUSD |
| Financial expenses | 6.0 MUSD | 7.4 MUSD | 0.3 MUSD |
| Total assets | 213.5 MUSD | 207.9 MUSD | 183.2 MUSD |
| Current assets | 182.4 MUSD | 180.1 MUSD | 161.6 MUSD |
| Equity | 21.1 MUSD | 13.1 MUSD | 23.6 MUSD |
| Retained earnings | −7.1 MUSD | −15.0 MUSD | −4.5 MUSD |
| Total liabilities | 192.4 MUSD | 194.9 MUSD | 159.6 MUSD |
| Current liabilities | 189.8 MUSD | 192.3 MUSD | 157.6 MUSD |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 4635339.
Further
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