Head Candy 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
67of 100
How to read this: the company is ahead of 81 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 248 of 1,279 · What are Morning company classes?
Place in the whole sector: 339 of 1,846 · Kultur og fritid
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 84 and resilience 89 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Head Candy AS is 17 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 1,276 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 47.1% (median 4.1%) and equity ratio 92.2% (median 34.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 4 MNOK | 3 MNOK |
| Operating margin | 47.1% | 4.1% |
| Profit margin | 46.0% | 3.5% |
| Return on assets | 24.7% | 8.2% |
| Equity ratio | 92.2% | 34.4% |
| Debt-to-equity | 0.08 | 1.19 |
| Current ratio | 12.48 | 1.45 |
| Revenue growth | −35.1% | 4.8% |
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 67, Head Candy AS does better than 81% of companies in the Morning class Micro in the same sector (1,279 companies) in 2025.
Score 2023–2025
- Head Candy AS
- Median: companies in the Morning class Micro in the same sector
Head Candy AS has a score of 67 for 2025, rank 339 of 1,846 in the sector.
Strongest: Liquidity: percentile 97 against peers, current ratio 12.48 against a median of 1.45. Solidity: percentile 96 against peers, equity ratio 92.2% against a median of 34.4%.
Weakest: Growth: percentile 7 against peers, revenue growth −35.1% against a median of 4.8%.
Worth a closer look
- What lies behind weak growth, and will it last?
- The change in operating margin in 2025 was 18.3 percentage points weaker than for comparable companies: the company −17.8, the industry +0.4 points. That is the company's own, not something that hit the whole industry.
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 Head Candy AS fell by 17.8 percentage points. Comparable companies rose by a median 0.4 points. So the company did 18.3 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Head Candy AS moved the same way as comparable companies 0 times. About 2% 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 | 64.9% | 3.6% | +12.1 percentage points | −0.1 percentage points | +12.3 percentage points |
| 2025 | 47.1% | 4.1% | −17.8 percentage points | +0.4 percentage points | −18.3 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 Head Candy AS. The figures stand side by side; we claim no cause.
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Head Candy AS fell 17.8 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 | – | – | 52.8% | 64.9% | 47.1% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Head Candy AS fell 17.8 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 | – | – | 52.8% | 64.9% | 47.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: sports and recreation (indeks)
Wage index: sports and recreation rose 6.7% in 2025; the operating margin of Head Candy AS fell 17.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: sports and recreation, annual average | 84.2 | 89.2 | 94.0 | 98.8 | 105.5 | 112.7 (so far) |
| Change from the year before | +2.0% | +6.0% | +5.4% | +5.2% | +6.7% | +6.8% |
| The company's operating margin | – | – | 52.8% | 64.9% | 47.1% | – |
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
Head Candy AS had an operating margin of 47.1% and an equity ratio of 92.2% in 2025, and ranks 339 of 1,846 in Kultur og fritid.
From 2024 to 2025: the operating margin fell from 64.9% to 47.1% and revenue fell by 35%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 16 MNOK and 36 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 21.1 | 34 MNOK |
| EV/EBIT | 19.9 | 36 MNOK |
| P/B | 3.3 | 16 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 58 MNOK |
| Enterprise value after the size adjustment | 36 MNOK |
| Less net debt (rough figure) | −1 MNOK |
| Equity value | 36 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 NACE code has no listed industry of its own in the table, so the multiples are the sector median: Recreation.
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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 47.1% (median 4.1%); Equity ratio 92.2% (median 34.4%); Current ratio 12.48 (median 1.45).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 11.5% 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 −5.4%. 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 | 84 | weight 40% |
|---|---|---|
| Solidity | 96 | weight 20% |
| Liquidity | 97 | weight 5% |
| Growth | 7 | weight 25% |
| Consistency | 71 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 84 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Head Candy AS?
The operating margin was 47.1% in 2025, against a median of 4.1% among companies in the Morning class Micro in the same sector. Return on assets was 24.7%.
How solid is Head Candy AS?
The equity ratio was 92.2% in 2025 (median 34.4%). Debt-to-equity was 0.08 (median 1.19).
What is the liquidity of Head Candy AS like?
The current ratio was 12.48 in 2025 (median 1.45).
How does Head Candy AS compare in Kultur og fritid?
Head Candy AS ranks 339 of 1,846 in Kultur og fritid for 2025. Among companies in the Morning class Micro it is number 248 of 1,279. Revenue changed by −35.1% 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 |
|---|---|---|---|---|
| Poprommet AS |  Lion |
6 MNOK | 11.8% | 66 |
| Lord Records AS | Lion |
5 MNOK | 46.4% | 85 |
| Bergen Deejay Booking AS |  Cheetah |
5 MNOK | 19.1% | 59 |
| Blåsemafian AS |  Elephant |
5 MNOK | 1.0% | 57 |
| Steinar Krokstad AS | Lion |
5 MNOK | 75.1% | 89 |
| Head Candy AS (this company) | Lion |
4 MNOK | 47.1% | 67 |
| Sdkt Entertainment AS | Elephant |
4 MNOK | −7.9% | 31 |
| Tnw AS |  Beaver |
4 MNOK | −3.0% | 34 |
| Åge Sten Nilsen AS | Lion |
4 MNOK | 3.2% | 62 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
From the Central Coordinating Register
- Org. no.
- 919829796
- Legal form
- AS
- Sector
- Kultur og fritid (90.201)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 9 October 2017 9 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Hans Haslums vei 50, 1356 BEKKESTUA (BÆRUM)
- Municipality
- Bærum rank 1 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 1 November 2017
- Latest accounts filed
- 2025
- LEI
- 549300XSJRUIXICZH537 not renewed (lapsed)
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 3 November 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
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.
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 | 95 | 90 | 67 | |
| Rank | 7 | 7 | 339 | |
| Operating margin | 52.8% | 64.9% | 47.1% | |
| Return on assets | 65.4% | 60.8% | 24.7% | |
| Equity ratio | 84.9% | 86.0% | 92.2% | |
| Current ratio | 6.43 | 7.03 | 12.48 | |
| Revenue growth | – | 49.9% | −35.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 4.5 MNOK | 6.7 MNOK | 4.3 MNOK |
| Operating profit | 2.4 MNOK | 4.4 MNOK | 2.0 MNOK |
| Profit before tax | 2.8 MNOK | 5.0 MNOK | 2.0 MNOK |
| Tax expense | 0.6 MNOK | 1.0 MNOK | 0.4 MNOK |
| Net profit | 2.2 MNOK | 4.0 MNOK | 1.6 MNOK |
| Financial expenses | 0.2 MNOK | 0.0 MNOK | 0.1 MNOK |
| Total assets | 4.6 MNOK | 8.3 MNOK | 8.4 MNOK |
| Current assets | 4.5 MNOK | 8.2 MNOK | 8.2 MNOK |
| Equity | 3.9 MNOK | 7.1 MNOK | 7.8 MNOK |
| Retained earnings | 3.9 MNOK | 7.1 MNOK | 7.7 MNOK |
| Total liabilities | 0.7 MNOK | 1.2 MNOK | 0.7 MNOK |
| Current liabilities | 0.7 MNOK | 1.2 MNOK | 0.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 6362191.
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