E-Motive Technology AS
Score · fiscal year 2025
49of 100
How to read this: the company is ahead of 46 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 739 of 1,358 · What are Morning company classes?
Place in the whole sector: 2,126 of 4,004 · Teknisk tjenesteyting og forskning
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 98 and solidity 11 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
E-Motive Technology AS is 2 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 1,358 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 33.8% (median 5.6%) and equity ratio 7.1% (median 33.5%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 31 MNOK | 20 MNOK |
| Operating margin | 33.8% | 5.6% |
| Profit margin | 34.2% | 5.7% |
| Return on assets | 74.0% | 14.0% |
| Equity ratio | 7.1% | 33.5% |
| Debt-to-equity | 13.11 | 1.73 |
| Current ratio | 1.01 | 1.43 |
| Revenue growth | 9.9% | 8.6% |
| Revenue per employee | 4.40 MNOK | 1.60 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 49, E-Motive Technology AS does better than 46% of companies in the Morning class Small in the same sector (1,358 companies) in 2025.
Score 2023–2025
- E-Motive Technology AS
- Median: companies in the Morning class Small in the same sector
E-Motive Technology AS has a score of 49 for 2025, rank 2,126 of 4,004 in the sector.
Strongest: Profitability: percentile 98 against peers, operating margin 33.8% against a median of 5.6%.
Weakest: Solidity: percentile 11 against peers, equity ratio 7.1% against a median of 33.5%. Liquidity: percentile 20 against peers, current ratio 1.01 against a median of 1.43.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 7.1% (median 33.5%).
- What lies behind weak solidity, and will it last?
- What lies behind weak liquidity, and will it last?
- The change in operating margin in 2025 was 6.5 percentage points weaker than for comparable companies: the company −5.7, the industry +0.8 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 E-Motive Technology AS fell by 5.7 percentage points. Comparable companies rose by a median 0.8 points. So the company did 6.5 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes E-Motive Technology AS moved the same way as comparable companies 0 times. About 7% 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 | 39.5% | 4.8% | +6.8 percentage points | −0.3 percentage points | +7.1 percentage points |
| 2025 | 33.8% | 5.6% | −5.7 percentage points | +0.8 percentage points | −6.5 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 E-Motive Technology AS. The figures stand side by side; we claim no cause.
Turnover index: architectural and engineering activities (indeks (2021 = 100))
Turnover index: architectural and engineering activities rose 8.1% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: architectural and engineering activities, annual average | 99.0 | 108.8 | 127.9 | 146.4 | 158.3 | 155.2 (so far) |
| Change from the year before | +9.8% | +9.9% | +17.5% | +14.5% | +8.1% | −1.9% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research rose 3.6% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: advertising and market research, annual average | 99.4 | 113.5 | 108.3 | 106.9 | 110.7 | 126.1 (so far) |
| Change from the year before | +35.1% | +14.2% | −4.6% | −1.3% | +3.6% | +13.9% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: other professional and technical activities (indeks (2021 = 100))
Turnover index: other professional and technical activities rose 6.2% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: other professional and technical activities, annual average | 98.3 | 121.6 | 139.4 | 131.0 | 139.1 | 158.0 (so far) |
| Change from the year before | +29.9% | +23.7% | +14.6% | −6.0% | +6.2% | +13.6% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.2% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: architects and engineering, annual average | 100.0 | 103.6 | 107.5 | 111.2 | 114.7 | 119.4 (so far) |
| Change from the year before | +1.2% | +3.5% | +3.8% | +3.4% | +3.2% | +4.2% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: SSB (14335, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of E-Motive Technology AS fell 5.7 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 | – | – | 32.7% | 39.5% | 33.8% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 4.7% in 2025; the operating margin of E-Motive Technology AS fell 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: architects and engineering, annual average | 90.5 | 90.9 | 96.0 | 100.9 | 105.6 | 109.2 (so far) |
| Change from the year before | +7.4% | +0.5% | +5.6% | +5.2% | +4.7% | +3.4% |
| The company's operating margin | – | – | 32.7% | 39.5% | 33.8% | – |
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
E-Motive Technology AS had an operating margin of 33.8% and an equity ratio of 7.1% in 2025, and ranks 2,126 of 4,004 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the equity ratio fell from 23.1% to 7.1% and the operating margin fell from 39.5% to 33.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 85 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 74 MNOK |
| EV/EBIT | 15.9 | 85 MNOK |
| P/B | 3.2 | 2 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 46% for an unlisted company: 20% for lack of marketability and 32% for size (a small-company premium of 3% 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
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 7.1% (median 33.5%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.7% 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 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 | 98 | weight 30% |
|---|---|---|
| Solidity | 11 | weight 25% |
| Liquidity | 20 | weight 15% |
| Growth | 53 | weight 15% |
| Consistency | 41 | weight 15% |
Durability: 67 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is E-Motive Technology AS?
The operating margin was 33.8% in 2025, against a median of 5.6% among companies in the Morning class Small in the same sector. Return on assets was 74.0%.
How solid is E-Motive Technology AS?
The equity ratio was 7.1% in 2025 (median 33.5%). Debt-to-equity was 13.11 (median 1.73).
What is the liquidity of E-Motive Technology AS like?
The current ratio was 1.01 in 2025 (median 1.43).
How does E-Motive Technology AS compare in Teknisk tjenesteyting og forskning?
E-Motive Technology AS ranks 2,126 of 4,004 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Small it is number 739 of 1,358. Revenue changed by 9.9% from the year before.
Group structure · 2025
57 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
No owner holds more than half of the shares in Hawk Infinity AS.
Group accounts. Hawk Infinity AS for 2025: index 63 of 100, number 20 of 114 groups. See the group accounts
-
Hawk Infinity AS
-
Hih II AS
-
Emt Bidco AS
- E-Motive Technology AS you are here
- Artbox AS
-
- Medinovo AS
- Geograf Digital AS
- Org. no. 836579062
- Org. no. 936579310
- FS Mgmt AS
- HC Intbio AS
- Hih 16 AS
- Hih 17 AS
- Hih 18 AS
- Hih 19 AS
- Hih 20 AS
- Hih IX AS
- and 11 more companies
-
The tree shows up to 4 levels below the top. Large groups have more companies than shown.
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 921675321
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Small
- Employees
- 7 registered 10 September 2026
- Founded
- 16 October 2018 8 years in operation
- Share capital
- 0.07 MNOK
- Business address
- Tordenskiolds gate 2, 0160 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- www.e-motive.no
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
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Emt Bidco AS (100%)
Ultimate owner: Hawk Infinity AS
- Emt Bidco AS · 100.0%
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.
Figures last fetched 7 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 95 | 58 | 49 | |
| Rank | 18 | 1,291 | 2,126 | |
| Operating margin | 32.7% | 39.5% | 33.8% | |
| Return on assets | 56.9% | 262.4% | 74.0% | |
| Equity ratio | 71.6% | 23.1% | 7.1% | |
| Current ratio | 2.37 | 0.97 | 1.01 | |
| Revenue growth | – | 38.4% | 9.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 20.3 MNOK | 28.0 MNOK | 30.8 MNOK |
| Operating profit | 6.6 MNOK | 11.1 MNOK | 10.4 MNOK |
| Profit before tax | 6.0 MNOK | 11.5 MNOK | 10.5 MNOK |
| Tax expense | 1.4 MNOK | 2.6 MNOK | 2.3 MNOK |
| Net profit | 4.6 MNOK | 9.0 MNOK | 8.2 MNOK |
| Financial expenses | 1.1 MNOK | 0.0 MNOK | 0.2 MNOK |
| Total assets | 12.5 MNOK | 4.4 MNOK | 14.6 MNOK |
| Current assets | 8.4 MNOK | 3.6 MNOK | 13.7 MNOK |
| Equity | 8.9 MNOK | 1.0 MNOK | 1.0 MNOK |
| Retained earnings | 8.8 MNOK | 1.0 MNOK | 1.0 MNOK |
| Total liabilities | 3.5 MNOK | 3.4 MNOK | 13.5 MNOK |
| Current liabilities | 3.5 MNOK | 3.7 MNOK | 13.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 7 November 2026, accounts id 6509217.
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