Techvalid 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
78of 100
How to read this: the company is ahead of 95 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 397 of 7,474 · What are Morning company classes?
Place in the whole sector: 493 of 10,060 · Teknisk tjenesteyting og forskning
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 86 and resilience 84 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Techvalid AS is 27 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 7,470 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 84.6% (median 7.8%) and equity ratio 88.1% (median 43.1%).
How it has gone · 2023–2025
Revenue fell by 66 % from 2023 to 2025, to 1.3 MNOK. The operating margin rose from 63.2% in 2023 to 84.6% in 2025. The equity ratio rose from 60.4% in 2023 to 88.1% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Techvalid AS has a score of 78 for 2025, rank 493 of 10,060 in the sector.
Strongest: Solidity: percentile 92 against peers, equity ratio 88.1% against a median of 43.1%. Profitability: percentile 86 against peers, operating margin 84.6% against a median of 7.8%.
No area is clearly below its peers.
Worth a closer look
- The change in operating margin in 2025 was 42.4 percentage points better than for comparable companies: the company +42.2, the industry −0.2 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
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 84.6% (median 7.8%); Equity ratio 88.1% (median 43.1%); Current ratio 3.83 (median 1.71).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
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 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 86 | weight 40% |
|---|---|---|
| Solidity | 92 | weight 20% |
| Liquidity | 82 | weight 5% |
| Growth | 56 | weight 25% |
| Consistency | 69 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 73 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | 84.6% | 7.8% |
| Profit margin | 121.1% | 7.8% |
| Return on assets | 31.8% | 14.1% |
| Equity ratio | 88.1% | 43.1% |
| Debt-to-equity | 0.14 | 1.04 |
| Current ratio | 3.83 | 1.71 |
| Revenue growth | −16.8% | 6.9% |
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 78, Techvalid AS does better than 95% of companies in the Morning class Micro in the same sector (7,474 companies) in 2025.
Score 2023–2025
- Techvalid AS
- Median: companies in the Morning class Micro in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
48 days | 44 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 | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
−32.1% | −7.1% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
92.4% | 57.8% | |
| 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. |
– | 14.9 | |
| 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. |
– | 0.6% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 2.3% | |
Net working capital (current assets less bank deposits less current liabilities): −0.4 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?
In 2025 the operating margin of Techvalid AS rose by 42.2 percentage points. Comparable companies fell by a median 0.2 points. So the company did 42.4 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Techvalid AS moved the same way as comparable companies 1 times. About 1% 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 | 42.4% | 8.0% | −20.8 percentage points | −0.5 percentage points | −20.3 percentage points |
| 2025 | 84.6% | 7.8% | +42.2 percentage points | −0.2 percentage points | +42.4 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 Techvalid 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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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 Techvalid AS rose 42.2 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 | – | – | 63.2% | 42.4% | 84.6% | – |
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
Techvalid AS had an operating margin of 84.6% and an equity ratio of 88.1% in 2025, and ranks 493 of 10,060 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin rose from 42.4% to 84.6% and revenue fell by 17%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 6 MNOK and 15 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.9 | 12 MNOK |
| EV/EBIT | 14.3 | 15 MNOK |
| P/B | 2.3 | 6 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 20 MNOK |
| Enterprise value after the size adjustment | 13 MNOK |
| Less net debt (rough figure) | −2 MNOK |
| Equity value | 15 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 multiples are from the listed industry that matches the NACE code (71.1): Engineering/Construction.
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 Techvalid AS?
The operating margin was 84.6% in 2025, against a median of 7.8% among companies in the Morning class Micro in the same sector. Return on assets was 31.8%.
How solid is Techvalid AS?
The equity ratio was 88.1% in 2025 (median 43.1%). Debt-to-equity was 0.14 (median 1.04).
What is the liquidity of Techvalid AS like?
The current ratio was 3.83 in 2025 (median 1.71).
How does Techvalid AS compare in Teknisk tjenesteyting og forskning?
Techvalid AS ranks 493 of 10,060 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 397 of 7,474. Revenue changed by −16.8% 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.
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 |
|---|---|---|---|---|
| Saxe Engineering AS |  Lion |
1 MNOK | 90.5% | 99 |
| Freelance Projects AS |  Cheetah |
1 MNOK | 55.1% | 61 |
| SIV.ING. Pål Holst AS | Lion |
1 MNOK | 30.6% | 70 |
| Meo Konsulenttjenester AS | Cheetah |
1 MNOK | 14.8% | 56 |
| Techvalid AS (this company) | Lion |
1 MNOK | 84.6% | 78 |
| Viddal Solutions AS |  Beaver |
1 MNOK | 0.6% | 25 |
| Arctic Oil Tools AS | Lion |
1 MNOK | −4.9% | 58 |
| Teknisk Rådgivning Heinrich AS | Cheetah |
1 MNOK | 18.9% | 53 |
| Vesterli Marine AS | Cheetah |
1 MNOK | 39.1% | 42 |
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.
- 922197830
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Purpose
- Å drive tjenesteyting, ingeniør innen mekanisk design og teknisk konsulentvirksomhet eller andre tekniske aktiviteter.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 0.0 MNOK (2025).
- Founded
- 1 January 2019 7 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Jåttåbakken 40, 4020 STAVANGER
- Municipality
- Stavanger rank 5 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 11 February 2019
- 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
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.
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 | 78 | 63 | 78 | |
| Rank | 1,007 | 2,550 | 493 | |
| Operating margin | 63.2% | 42.4% | 84.6% | |
| Return on assets | 64.6% | 23.9% | 31.8% | |
| Equity ratio | 60.4% | 89.2% | 88.1% | |
| Current ratio | 0.69 | 2.70 | 3.83 | |
| Revenue growth | – | −58.6% | −16.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.9 MNOK | 1.6 MNOK | 1.3 MNOK |
| Operating profit | 2.5 MNOK | 0.7 MNOK | 1.1 MNOK |
| Profit before tax | 2.7 MNOK | 0.9 MNOK | 1.6 MNOK |
| Tax expense | 0.6 MNOK | 0.2 MNOK | 0.4 MNOK |
| Net profit | 2.1 MNOK | 0.7 MNOK | 1.3 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | – |
| Total assets | 4.2 MNOK | 3.6 MNOK | 5.1 MNOK |
| Current assets | 1.2 MNOK | 1.0 MNOK | 2.3 MNOK |
| Equity | 2.5 MNOK | 3.2 MNOK | 4.5 MNOK |
| Retained earnings | 2.5 MNOK | 3.2 MNOK | 4.5 MNOK |
| Total liabilities | 1.7 MNOK | 0.4 MNOK | 0.6 MNOK |
| Current liabilities | 1.7 MNOK | 0.4 MNOK | 0.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 6960762.
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