Mst Wave AS
Score · fiscal year 2025
34of 100
How to read this: the company is ahead of 16 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 351 of 417 · What are Morning company classes?
Place in the whole sector: 829 of 1,018 · Sjøfart
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 67 and solidity 8 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Mst Wave AS is 15 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 49 among 417 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 57.6% (median 22.4%) and equity ratio 3.3% (median 42.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 137 MNOK | 125 MNOK |
| Operating margin | 57.6% | 22.4% |
| Profit margin | 84.9% | 13.3% |
| Return on assets | 8.1% | 9.5% |
| Equity ratio | 3.3% | 42.6% |
| Debt-to-equity | 28.95 | 1.31 |
| Current ratio | 0.11 | 1.51 |
| Revenue growth | −3.6% | 1.7% |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 34, Mst Wave AS does better than 16% of companies in the Morning class Medium in the same sector (417 companies) in 2025.
Score 2023–2025
- Mst Wave AS
- Median: companies in the Morning class Medium in the same sector
Mst Wave AS has a score of 34 for 2025, rank 829 of 1,018 in the sector.
Strongest: Profitability: percentile 67 against peers, operating margin 57.6% against a median of 22.4%.
Weakest: Liquidity: percentile 2 against peers, current ratio 0.11 against a median of 1.51. Solidity: percentile 8 against peers, equity ratio 3.3% against a median of 42.6%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 8.8 times current assets. Based on: current ratio 0.11 (median 1.51).
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 3.3% (median 42.6%).
- What lies behind weak solidity, 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
What the numbers say
Mst Wave AS had an operating margin of 57.6% and an equity ratio of 3.3% in 2025, and ranks 829 of 1,018 in Sjøfart.
From 2024 to 2025: went from a loss to a profit before tax and the equity ratio rose from −5.3% to 3.3%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 35 MNOK and 843 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 843 MNOK |
| EV/EBIT | 8.0 | debt above value |
| P/B | 1.0 | 35 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
- critical
Consider strengthening liquidity: current liabilities are 8.8 times current assets.
Based on: Current ratio 0.11 (median 1.51).
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 3.3% (median 42.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were −3.0% 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 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 | 67 | weight 30% |
|---|---|---|
| Solidity | 8 | weight 25% |
| Liquidity | 2 | weight 15% |
| Growth | 36 | weight 15% |
| Consistency | 40 | weight 15% |
Durability: 31 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Mst Wave AS?
The operating margin was 57.6% in 2025, against a median of 22.4% among companies in the Morning class Medium in the same sector. Return on assets was 8.1%.
How solid is Mst Wave AS?
The equity ratio was 3.3% in 2025 (median 42.6%). Debt-to-equity was 28.95 (median 1.31).
What is the liquidity of Mst Wave AS like?
The current ratio was 0.11 in 2025 (median 1.51). Current assets did not cover current liabilities.
How does Mst Wave AS compare in Sjøfart?
Mst Wave AS ranks 829 of 1,018 in Sjøfart for 2025. Among companies in the Morning class Medium it is number 351 of 417. Revenue changed by −3.6% from the year before.
From the Central Coordinating Register
- Org. no.
- 920810640
- Legal form
- AS
- Sector
- Sjøfart (50.201)
- Morning company class
- Medium
- Employees
- 0–4 (not registered)
- Founded
- 23 April 2018 8 years in operation
- Share capital
- 1.20 MNOK
- Business address
- Badehusgata 37, 4014 STAVANGER
- Municipality
- Stavanger rank 5 of 11 in KOSTRA group 12
- 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
- Chair of the board
- Kristine Flatekval Varhaug
- Board member
- Rein Harald Salte
- Auditor
- Pricewaterhousecoopers 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 | 32 | 27 | 34 | |
| Rank | 693 | 853 | 829 | |
| Operating margin | 59.3% | 60.0% | 57.6% | |
| Return on assets | 8.6% | 9.3% | 8.1% | |
| Equity ratio | 4.1% | −5.3% | 3.3% | |
| Current ratio | 0.32 | 0.30 | 0.11 | |
| Revenue growth | – | 1.7% | −3.6% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 139.3 MNOK | 141.7 MNOK | 136.6 MNOK |
| Operating profit | 82.6 MNOK | 85.1 MNOK | 78.6 MNOK |
| Profit before tax | −42.2 MNOK | −94.1 MNOK | 116.0 MNOK |
| Net profit | −54.0 MNOK | −88.5 MNOK | 84.3 MNOK |
| Financial expenses | 125.4 MNOK | 179.6 MNOK | −30.4 MNOK |
| Total assets | 972.2 MNOK | 919.9 MNOK | 1,057.7 MNOK |
| Current assets | 29.8 MNOK | 29.2 MNOK | 13.4 MNOK |
| Equity | 39.5 MNOK | −49.0 MNOK | 35.3 MNOK |
| Retained earnings | – | −50.2 MNOK | 34.1 MNOK |
| Total liabilities | 932.7 MNOK | 968.9 MNOK | 1,022.4 MNOK |
| Current liabilities | 93.4 MNOK | 96.9 MNOK | 117.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7076205.
Further
Similar companies
- Island Champion AS index 34, rank 828 · compare
- Sveholmen Chartering AS index 34, rank 830 · compare
- Roslagen Chartering AS index 34, rank 831 · compare
- UM Bulk AS index 34, rank 832 · compare
- Owl 1 AS index 33, rank 834 · compare