While 1 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
Is the company run well?
Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 21.1% Weaker than the industry Industry: 80.9%
- Returns · return on assets 7.9% Weaker than the industry Industry: 11.5%
- Solidity · equity ratio 97.2% Better than the industry Industry: 90.5%
- Liquidity · current ratio 8.89 About like the industry Industry: 8.20
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
47of 100
How to read this: the company is ahead of 40 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 472 of 790 · What are Morning company classes?
Place in the whole sector: 772 of 1,323 · Finans og forsikring
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 33 and resilience 62 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
While 1 AS is 4 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 790 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 21.1% (median 80.9%) and equity ratio 97.2% (median 90.5%).
How it has gone · 2023–2025
The equity ratio rose from 70.9% in 2023 to 97.2% in 2025.
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 figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | 1.0 MNOK |
| Operating profit | −0.1 MNOK | −0.1 MNOK | 0.2 MNOK |
| Net profit | −0.1 MNOK | 0.0 MNOK | 0.2 MNOK |
| Total assets | 3.5 MNOK | 2.4 MNOK | 2.7 MNOK |
| Equity | 2.5 MNOK | 2.4 MNOK | 2.6 MNOK |
| Total liabilities | 1.0 MNOK | 0.0 MNOK | 0.1 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.
- 919184574
- Legal form
- AS
- Sector
- Finans og forsikring (64.323)
- Purpose
- Å investere i andre selskaper.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 0.6 MNOK (2025).
- Founded
- 23 March 2017 9 years in operation
- Share capital
- 0.04 MNOK
- Business address
- Stedjeflaten 42, 6856 SOGNDAL
- Municipality
- Sogndal rank 1 of 13 in KOSTRA group 8
- Audit
- Audit opted out from 26 June 2017
- Latest accounts filed
- 2025
- VAT registered
- Yes
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
While 1 AS has a score of 47 for 2025, rank 772 of 1,323 in the sector.
Strongest: Solidity: percentile 70 against peers, equity ratio 97.2% against a median of 90.5%.
Weakest: Profitability: percentile 33 against peers, operating margin 21.1% against a median of 80.9%.
Worth a closer look
- What lies behind weak profitability, 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
Worth a closer look
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.5% 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.
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 −13.5%. 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 | 33 | weight 40% |
|---|---|---|
| Solidity | 70 | weight 20% |
| Liquidity | 52 | weight 5% |
| Growth | – | no data, left out |
| Consistency | 51 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Index version 3. Data completeness 75%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 3 MNOK |
| Operating margin | 21.1% | 80.9% |
| Profit margin | 21.2% | 82.2% |
| Return on assets | 7.9% | 11.5% |
| Equity ratio | 97.2% | 90.5% |
| Debt-to-equity | 0.03 | 0.10 |
| Current ratio | 8.89 | 8.20 |
| Revenue growth | – | 9.8% |
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 47, While 1 AS does better than 40% of companies in the Morning class Micro in the same sector (790 companies) in 2025.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
12 days | 40 days | |
| 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. |
0 days | 10 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
−4.1% | 156.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
94.9% | 15.2% | |
| 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. |
186.1 | 30.5 | |
| 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. |
1.5% | 2.4% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 27.3% | |
Net working capital (current assets less bank deposits less current liabilities): 0.0 MNOK.
The median and the bar refer to companies in the Morning class Micro 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?
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 While 1 AS. The figures stand side by side; we claim no cause.
Policy rate (prosent)
| 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 | – | – | – | – | 21.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Consumer price index (indeks (2025 = 100))
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | – | – | 21.1% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: financial services (indeks)
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: financial services, annual average | 87.1 | 90.4 | 94.2 | 98.9 | 103.5 | 107.3 (so far) |
| Change from the year before | +2.9% | +3.8% | +4.1% | +5.0% | +4.6% | +3.7% |
| The company's operating margin | – | – | – | – | 21.1% | – |
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
While 1 AS had an operating margin of 21.1% and an equity ratio of 97.2% in 2025, and ranks 772 of 1,323 in Finans og forsikring.
From 2024 to 2025: went from a loss to a profit before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 0 MNOK and 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 12.3 | 0 MNOK |
| EV/EBIT | – | not used in the sector |
| P/B | 1.2 | 2 MNOK |
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 NACE code has no listed industry of its own in the table, so the multiples are the sector median: Bank (Money Center), Banks (Regional), Insurance (General), Investments & Asset Management, Financial Svcs. (Non-bank & Insurance).
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
Questions and answers
How profitable is While 1 AS?
The operating margin was 21.1% in 2025, against a median of 80.9% among companies in the Morning class Micro in the same sector. Return on assets was 7.9%.
How solid is While 1 AS?
The equity ratio was 97.2% in 2025 (median 90.5%). Debt-to-equity was 0.03 (median 0.10).
What is the liquidity of While 1 AS like?
The current ratio was 8.89 in 2025 (median 8.20).
How does While 1 AS compare in Finans og forsikring?
While 1 AS ranks 772 of 1,323 in Finans og forsikring for 2025. Among companies in the Morning class Micro it is number 472 of 790.
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.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Bjørn Pedersen Vekst AS |  Elephant |
1 MNOK | 27.5% | 54 |
| Redshift AS |  Beaver |
1 MNOK | 36.3% | 53 |
| Nordkronen II AS | Beaver |
1 MNOK | −2,510.8% | 17 |
| Gav Invest AS |  Lion |
1 MNOK | 99.6% | 72 |
| Finmarine AS | Lion |
1 MNOK | 74.4% | 56 |
| While 1 AS (this company) | Elephant |
1 MNOK | 21.1% | 47 |
| Trettø Olsen Invest AS | Beaver |
1 MNOK | 2.1% | 16 |
| Rth Holding AS |  Cheetah |
1 MNOK | 98.5% | 58 |
| Steinar Skåren Holding AS | Cheetah |
1 MNOK | 99.8% | 58 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 3 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
The company is new in the shareholder register in 2025.
The portfolio: 4 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 32. 1 have negative equity and 3 made a loss in the latest year.
Holds shares in: Enviroinventions AS (15%), Rocketfarm AS (2%), Rockethouse AS (20%), Nlink AS (10%)
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 8 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | 47 | |
| Rank | – | – | 772 | |
| Operating margin | – | – | 21.1% | |
| Return on assets | −1.4% | −1.9% | 7.9% | |
| Equity ratio | 70.9% | 99.8% | 97.2% | |
| Current ratio | 1.72 | 96.08 | 8.89 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | 1.0 MNOK |
| Operating profit | −0.1 MNOK | −0.1 MNOK | 0.2 MNOK |
| Profit before tax | −0.1 MNOK | 0.0 MNOK | 0.2 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −0.1 MNOK | 0.0 MNOK | 0.2 MNOK |
| Financial expenses | 0.0 MNOK | – | 0.0 MNOK |
| Total assets | 3.5 MNOK | 2.4 MNOK | 2.7 MNOK |
| Current assets | 1.8 MNOK | 0.5 MNOK | 0.7 MNOK |
| Equity | 2.5 MNOK | 2.4 MNOK | 2.6 MNOK |
| Retained earnings | 1.9 MNOK | 1.9 MNOK | 2.1 MNOK |
| Total liabilities | 1.0 MNOK | 0.0 MNOK | 0.1 MNOK |
| Current liabilities | 1.0 MNOK | 0.0 MNOK | 0.1 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 6627931.
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