Vulkan Engineering AS
Score · fiscal year 2024
54of 100
How to read this: the company is ahead of 58 % of companies in the Morning class Micro in the same sector in 2024. What does this mean?
Rank in the Morning class Micro: 912 of 2,165 · What are Morning company classes?
Place in the whole sector: 1,741 of 4,104 · Teknisk tjenesteyting og forskning
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 68 and solidity 29 out of 100 among companies in the Morning class Micro in the same sector in 2024. Methodology
Against the sector
Vulkan Engineering AS is 4 points above the median for companies in the Morning class Micro in the same sector in 2024.
Median score 50 among 2,165 companies.
Against companies in the Morning class Micro in the same sector in 2024: operating margin 24.5% (median 5.8%) and equity ratio 24.2% (median 41.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10 MNOK | 3 MNOK |
| Operating margin | 24.5% | 5.8% |
| Profit margin | 27.1% | 5.6% |
| Return on assets | 16.4% | 11.5% |
| Equity ratio | 24.2% | 41.5% |
| Debt-to-equity | 3.13 | 1.10 |
| Current ratio | 1.24 | 1.61 |
| Revenue growth | 39.3% | 5.6% |
| Revenue per employee | 1.11 MNOK | 0.73 MNOK |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 54, Vulkan Engineering AS does better than 58% of companies in the Morning class Micro in the same sector (2,165 companies) in 2024.
Score 2023–2025
- Vulkan Engineering AS
- Median: companies in the Morning class Micro in the same sector
What the numbers say
Vulkan Engineering AS had an operating margin of 24.5% and an equity ratio of 24.2% in 2024, and ranks 1,741 of 4,104 in Teknisk tjenesteyting og forskning.
From 2023 to 2024: the operating margin rose from 14.7% to 24.5% and revenue grew by 39%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 6 MNOK and 21 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 13 MNOK |
| EV/EBIT | 15.9 | 21 MNOK |
| P/B | 3.2 | 6 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
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 0.6% 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
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 −0.2%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 68 | weight 30% |
|---|---|---|
| Solidity | 29 | weight 25% |
| Liquidity | 34 | weight 15% |
| Growth | 80 | weight 15% |
| Consistency | 59 | weight 15% |
Durability: 48 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Vulkan Engineering AS?
The operating margin was 24.5% in 2024, against a median of 5.8% among companies in the Morning class Micro in the same sector. Return on assets was 16.4%.
How solid is Vulkan Engineering AS?
The equity ratio was 24.2% in 2024 (median 41.5%). Debt-to-equity was 3.13 (median 1.10).
What is the liquidity of Vulkan Engineering AS like?
The current ratio was 1.24 in 2024 (median 1.61).
How does Vulkan Engineering AS compare in Teknisk tjenesteyting og forskning?
Vulkan Engineering AS ranks 1,741 of 4,104 in Teknisk tjenesteyting og forskning for 2024. Among companies in the Morning class Micro it is number 912 of 2,165. Revenue changed by 39.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 919598840
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Micro
- Employees
- 9 registered 10 September 2026
- Founded
- 5 September 2017 9 years in operation
- Share capital
- 0.05 MNOK
- Business address
- Nydalsveien 28, 0484 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- 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 1 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 9
- Largest owner
- 34.7% · top three 69.7%
- Split
- companies 30% · private persons 70% · foreign 0%
- Owned from the same municipality
- 82%
- Owners over 60
- 21% of the shares held by persons (median age 36)
- Vulkan Engineering AS · 20.0%
- HI Flo AS · 10.0%
- 7 private persons · 70.0%
The company is new in the shareholder register in 2025.
Holds shares in: Vulkan Engineering AS (20%)
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.
Figures last fetched 6 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 42 | 54 | 41 | |
| Rank | 2,533 | 1,741 | 2,869 | |
| Operating margin | 14.7% | 24.5% | 4.7% | |
| Return on assets | 11.2% | 16.4% | 5.9% | |
| Equity ratio | 20.9% | 24.2% | 18.6% | |
| Current ratio | 1.25 | 1.24 | 1.05 | |
| Revenue growth | – | 39.3% | 39.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 7.2 MNOK | 10.0 MNOK | 14.0 MNOK |
| Operating profit | 1.1 MNOK | 2.4 MNOK | 0.7 MNOK |
| Profit before tax | 1.0 MNOK | 2.7 MNOK | 1.0 MNOK |
| Tax expense | 0.2 MNOK | 0.6 MNOK | 0.1 MNOK |
| Net profit | 0.8 MNOK | 2.1 MNOK | 0.8 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 9.5 MNOK | 17.0 MNOK | 17.8 MNOK |
| Current assets | 9.4 MNOK | 15.9 MNOK | 15.2 MNOK |
| Equity | 2.0 MNOK | 4.1 MNOK | 3.3 MNOK |
| Retained earnings | 2.0 MNOK | 4.1 MNOK | 3.3 MNOK |
| Total liabilities | 7.5 MNOK | 12.9 MNOK | 14.5 MNOK |
| Current liabilities | 7.5 MNOK | 12.9 MNOK | 14.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 6213857.
Further
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