Dronedata AS

Org. no. 922346151 · Eidskog · 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

Key facts

Employees – Not registered in the Central Coordinating Register
Operating revenue · 2025 2.5 MNOK Micro
Net profit · 2025 0.1 MNOK
Equity · 2025 0.6 MNOK
Founded 2019 7 years in operation
Quick check · fiscal year 2025

Is the company run well?

Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.

  • Profitability · operating margin 8.3% About like the industry Industry: 7.8%
  • Returns · return on assets 17.8% About like the industry Industry: 14.1%
  • Solidity · equity ratio 47.9% About like the industry Industry: 43.1%
  • Liquidity · current ratio 1.93 About like the industry Industry: 1.71
  • Growth · revenue growth 24.6% Better than the industry Industry: 6.8%

The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology

Score · fiscal year 2025

58of 100

How to read this: the company is ahead of 64 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?

Rank in the Morning class Micro: 2,681 of 7,471 · What are Morning company classes?
Place in the whole sector: 3,579 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 53 and resilience 54 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology

Against the sector

Dronedata AS is 7 points above the median for companies in the Morning class Micro in the same sector in 2025.

Median score 51 among 7,468 companies.

Against companies in the Morning class Micro in the same sector in 2025: operating margin 8.3% (median 7.8%) and equity ratio 47.9% (median 43.1%).

Source: Register of Company Accounts and Central Coordinating RegisterFetched 8 November 2026Report an issue
Development

How it has gone · 2023–2025

Revenue rose by 24 % from 2023 to 2025, to 2.5 MNOK. The operating margin rose from −2.4% in 2023 to 8.3% in 2025. The equity ratio rose from 42.1% in 2023 to 47.9% in 2025.

Score · 2025 58 +24 points since 2023 (better)
Operating revenue · 2025 2.5 MNOK +24% since 2023 (better)
Net profit · 2025 0.1 MNOK from −0.1 MNOK in 2023 (better)
Operating margin · 2025 8.3% +10.7 pp since 2023 (better)
Equity ratio · 2025 47.9% +5.8 pp since 2023 (better)
Current ratio · 2025 1.93 about the same since 2023

Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year

Accounts in short

Key figure202320242025
Operating revenue2.0 MNOK2.0 MNOK2.5 MNOK
Operating profit0.0 MNOK0.0 MNOK0.2 MNOK
Net profit−0.1 MNOK0.0 MNOK0.1 MNOK
Total assets1.0 MNOK0.9 MNOK1.2 MNOK
Equity0.4 MNOK0.4 MNOK0.6 MNOK
Total liabilities0.6 MNOK0.5 MNOK0.6 MNOK

From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year

From the Central Coordinating Register

Org. no.
922346151
Legal form
AS
Sector
Teknisk tjenesteyting og forskning (71.123)
Purpose
Landmåling/dokumentering og foto med hjelp av drone.
Morning company class
Micro
Employees
0–4 (not registered) Payroll costs in the accounts: 1.5 MNOK (2025).
Founded
13 February 2019 7 years in operation
Share capital
0.03 MNOK
Business address
Grønnerud-Hesbølvegen 325, 2230 SKOTTERUD (EIDSKOG)
Municipality
Eidskog rank 38 of 39 in KOSTRA group 4
Audit
Audit opted out from 6 March 2019
Latest accounts filed
2025
VAT registered
Yes
The company's business municipality, Eidskog. The map shows the municipality, not the address. Map source: Kartverket (CC BY 4.0).

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

Summary analysis

Dronedata AS has a score of 58 for 2025, rank 3,579 of 10,060 in the sector.

Strongest: Growth: percentile 70 against peers, revenue growth 24.6% against a median of 6.8%.

No area is clearly below its peers.

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Indications · 2025

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 2.5% 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.

Stress test · 2021

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

Components · 2025

What the score is made of

Profitability53 weight 40%
Solidity52 weight 20%
Liquidity57 weight 5%
Growth70 weight 25%
Consistency57 weight 10%

Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?

Durability: 45 (average over 3 years)

Index version 3. Data completeness 100%: the share of the weights that had data.

Key figures · 2025

The numbers behind the score

The numbers behind the score · 2025
MeasureCompanyMedianAhead of
Operating revenue2 MNOK2 MNOK
Operating margin 8.3% 7.8% 51 %
Profit margin 7.8% 7.8% shown, not part of the index
Return on assets 17.8% 14.1% 56 %
Equity ratio 47.9% 43.1% 55 %
Debt-to-equity 1.09 1.04 49 %
Current ratio 1.93 1.71 57 %
Revenue growth 24.6% 6.8% 69 %

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 58, Dronedata AS does better than 64% of companies in the Morning class Micro in the same sector (7,471 companies) in 2025.

Over time

Score 2023–2025

CompanyMedian0255075100202320242025
  • Dronedata AS
  • Median: companies in the Morning class Micro in the same sector
Working capital and debt · 2025

Working capital and debt

Working capital and debt · 2025
MeasureCompanyMedianHigher than
Working capital
Receivable days
All current receivables, including those on group companies, in days of revenue.
56 days 44 days 60 %
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 32 %
Net working capital to revenue
Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations.
−6.1% −7.1% 53 %
Cash share of current assets
How much of the short-term buffer is bank deposits and cash.
62.9% 57.8% 55 %
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.
13.4 14.9 49 %
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.
2.5% 0.6% 70 %
Long-term share of debt
Long-term debt as a share of all debt. A low share means more falls due within a year.
12.3% 2.3% 60 %

Net working capital (current assets less bank deposits less current liabilities): −0.2 MNOK.

Of the financial costs of 0.0 MNOK, 0.0 MNOK is reported as interest costs in the accounts.

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.

Our calculations Returns and quality · 2025

Returns, debt against earnings and quality

Returns, debt against earnings and quality · 2025
MeasureCompanyMedianHigher than
Returns
Return on equity (ROE)
Net result over the average of equity at the start and end of the year (the end alone when last year is missing). Not calculated with negative equity.
28.7% 24.6% 53 %
Return on capital employed (ROCE)
Operating result over capital employed, that is total assets less current liabilities. The return regardless of how the company is financed.
32.5% 23.2% 57 %
Net margin
Net result over revenue. The first part of the DuPont split of return on equity.
5.6% 6.2% 49 %
Asset turnover (revenue over assets)
Revenue over total assets: how many kroner of revenue each krone of assets gives. The second part of the DuPont split.
2.13 1.71 60 %
Equity multiplier
Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split.
2.09 2.04 51 %
Debt and financing
Net debt in times operating result
Long-term liabilities less cash, over the operating result: roughly how many years the business must earn to repay the debt. A negative figure means more cash than long-term debt. Rough, because the accounts do not split out interest-bearing debt. Only calculated when the operating result is positive.
−2.8 −1.2 27 %
Fixed-asset cover
Equity plus long-term liabilities over fixed assets (total assets less current assets). Below 1: fixed assets are partly financed with short-term debt.
4.69 2.03 68 %
Quick ratio (without inventory)
Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments.
1.93 1.54 63 %
Quality and resilience
Effective tax rate
Tax expense over profit before tax, only when the profit is positive. Far from 22% points to one-off items, tax losses carried forward or group contributions.
27.2% 22.0% 92 %
Operating leverage
Percentage change in operating result over percentage change in revenue from last year. 3 means a 1% fall in revenue gives a 3% fall in operating result. Only calculated when revenue moved at least 2% and last year's operating result was positive.
25.8 1.6 96 %
Payroll costs over revenue
Payroll costs (with employer's contribution and pension) over revenue. Shows how much of revenue is a fixed cost in a service business.
59.7% 51.0% 62 %
Revenue safety margin
How far revenue can fall before the operating result is zero, assuming payroll is fixed and all other costs follow revenue. A calculation, not a measurement: depreciation and rent are also fixed, so reality is lower.
12.2% 23.9% 29 %
Cash runway (months)
Cash over the operating loss per month, only for years with a loss. Assumes the loss continues unchanged and no new financing arrives. Capped at 120 months.
– 17 mo. not compared

DuPont on the closing balance: net margin 5.6% × asset turnover 2.13 × multiplier 2.09 = 25.1% of equity at the end of the year. The return on equity above uses average equity and can differ slightly.

Net debt is negative: the company holds more cash than long-term debt.

The median and the bar are for companies in the Morning class Micro in the same sector in 2025. The bar shows the share of the group with a lower figure: high is not always good. The figures are our own calculations from the annual accounts and do not count in the score. Open data has no depreciation, so no EBITDA, and the accounts do not split out interest-bearing debt. How we calculate

The industry or the company: what drove the result?

In 2025 the operating margin of Dronedata AS rose by 6.9 percentage points. Comparable companies fell by a median 0.2 points. So the company did 7.1 points better than the industry, for reasons of its own.

Over 2 year-to-year changes Dronedata AS moved the same way as comparable companies 0 times. About 6% of the changes in operating margin were common to the industry; the rest was the company's own.

The operating margin of Dronedata AS against comparable companies, year by year
YearThe companyComparable (median) Change, companyChange, industryThe company's own
20241.4%8.0% +3.8 percentage points −0.5 percentage points +4.2 percentage points
20258.3%7.8% +6.9 percentage points −0.2 percentage points +7.1 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 Dronedata 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 Dronedata AS rose 6.9 percentage points.

Turnover index: architectural and engineering activities per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Turnover index: architectural and engineering activities, annual average99.0108.8127.9146.4158.3155.2 (so far)
Change from the year before+9.8%+9.9%+17.5%+14.5%+8.1%−1.9%
The company's operating margin––−2.4%1.4%8.3%–

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 Dronedata AS rose 6.9 percentage points.

Turnover index: advertising and market research per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Turnover index: advertising and market research, annual average99.4113.5108.3106.9110.7126.1 (so far)
Change from the year before+35.1%+14.2%−4.6%−1.3%+3.6%+13.9%
The company's operating margin––−2.4%1.4%8.3%–

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 Dronedata AS rose 6.9 percentage points.

Turnover index: other professional and technical activities per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Turnover index: other professional and technical activities, annual average98.3121.6139.4131.0139.1158.0 (so far)
Change from the year before+29.9%+23.7%+14.6%−6.0%+6.2%+13.6%
The company's operating margin––−2.4%1.4%8.3%–

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 Dronedata AS rose 6.9 percentage points.

Service prices: architects and engineering per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Service prices: architects and engineering, annual average100.0103.6107.5111.2114.7119.4 (so far)
Change from the year before+1.2%+3.5%+3.8%+3.4%+3.2%+4.2%
The company's operating margin––−2.4%1.4%8.3%–

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 Dronedata AS rose 6.9 percentage points.

Oil price (export price of crude oil) per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Oil price (export price of crude oil), annual average609979877859708881 (so far)
Change from the year before+61.1%+60.8%−10.5%−2.0%−17.6%+24.5%
The company's operating margin––−2.4%1.4%8.3%–

Source: SSB (08799, CC BY 4.0). Source

Policy rate (prosent)

Policy rate fell 0.20 percentage points in 2025; the operating margin of Dronedata AS rose 6.9 percentage points.

Policy rate per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (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––−2.4%1.4%8.3%–

Source: Norges Bank (IR, NLOD 2.0). Source

EUR/NOK (kr)

EUR/NOK rose 0.8% in 2025; the operating margin of Dronedata AS rose 6.9 percentage points.

EUR/NOK per year and the operating margin of Dronedata AS
Measure202120222023202420252026
EUR/NOK, annual average10.1610.1011.4211.6211.7211.04 (so far)
Change from the year before−5.2%−0.6%+13.1%+1.8%+0.8%−5.8%
The company's operating margin––−2.4%1.4%8.3%–

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 Dronedata AS rose 6.9 percentage points.

Wage index: architects and engineering per year and the operating margin of Dronedata AS
Measure202120222023202420252026
Wage index: architects and engineering, annual average90.590.996.0100.9105.6109.2 (so far)
Change from the year before+7.4%+0.5%+5.6%+5.2%+4.7%+3.4%
The company's operating margin––−2.4%1.4%8.3%–

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.

Analysis · 2025

What the numbers say

Dronedata AS had an operating margin of 8.3% and an equity ratio of 47.9% in 2025, and ranks 3,579 of 10,060 in Teknisk tjenesteyting og forskning.

From 2024 to 2025: the operating margin rose from 1.4% to 8.3% and revenue grew by 25%.

This text is generated automatically from the 2025 accounts.

Estimated value · 2025

Three simple methods

Our calculations

Suggested price: about 1 MNOK

The mean of the 3 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation. The median of the methods is 1 MNOK. The mean is the suggested price, but the median is less sensitive to one method that deviates. The methods differ widely (the highest is 4.4 times the lowest), so the estimate is uncertain.
That is about 24,333 NOK per share, on 30 shares in the shareholder register.

The methods give between 0 MNOK and 1 MNOK.

MethodInputMultipleListed basisEstimate
P/E Net profit (mean 2023–2025): 0.0 MNOK 14.9 0 MNOK 0 MNOK
EV/EBIT Operating profit (mean 2023–2025): 0.1 MNOK
less net debt −0.6 MNOK (rough figure)
14.3 1 MNOK 1 MNOK
P/B Equity: 0.6 MNOK 2.3 1 MNOK 1 MNOK
EV/EBIT: from enterprise value to equityNOK
Enterprise value (EV) at the listed multiple1 MNOK
Enterprise value after the size adjustment1 MNOK
Less net debt (rough figure)−1 MNOK
Equity value1 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. Net debt is −105% of the enterprise value after the size adjustment, so the equity value from EV/EBIT is sensitive to errors in the debt figure.

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

Our calculations

Figures you will not find in any register

We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate

Implied dividend (net payout)
Equity moved as the result implied in 2025.
Over 2 years it equals 0% of the sum of the results.
Calculated as retained earnings at the start of the year + net result − retained earnings at the end of the year. What remains is dividends and group contributions, plus transfers to other items and corrections of earlier years. It is not a dividend figure.
Owners and leadership aged 60 or older
No sign of a near generation change in the ages.
  • The chair is under 60.
  • The managing director is under 60.
  • 0 of 2 on the board are 60 or older.
Age is this year minus the birth year in the registers and can be a year off. It says something about age, not about anyone planning to step down.

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

2025

Questions and answers

How profitable is Dronedata AS?

The operating margin was 8.3% in 2025, against a median of 7.8% among companies in the Morning class Micro in the same sector. Return on assets was 17.8%.

How solid is Dronedata AS?

The equity ratio was 47.9% in 2025 (median 43.1%). Debt-to-equity was 1.09 (median 1.04).

What is the liquidity of Dronedata AS like?

The current ratio was 1.93 in 2025 (median 1.71).

How does Dronedata AS compare in Teknisk tjenesteyting og forskning?

Dronedata AS ranks 3,579 of 10,060 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Micro it is number 2,681 of 7,471. Revenue changed by 24.6% from the year before.

2025

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.

Oppmålingstjenester AS: 57 / 32Hansen Oppmåling AS: 66 / 67Hawkeye AS: 47 / 32Nes Oppmåling AS: 90 / 71Andersen Oppmåling AS: 71 / 26Dronedata AS: 53 / 54Rondane Oppmåling AS: 28 / 69Ågeo AS: 40 / 65Lister Oppmåling AS: 54 / 5000252550507575100100Resilience, percentile against peers →↑ Profitability, percentile against peers

CompanyProfileOperating revenueOperating marginScore
Oppmålingstjenester AS Cheetah 4 MNOK 7.8% 54
Hansen Oppmåling AS Lion 3 MNOK 25.4% 64
Hawkeye AS Beaver 3 MNOK 9.0% 47
Nes Oppmåling AS Lion 3 MNOK 48.7% 76
Andersen Oppmåling AS Cheetah 3 MNOK 17.0% 51
Dronedata AS (this company) Lion 2 MNOK 8.3% 58
Rondane Oppmåling AS Elephant 2 MNOK 0.7% 56
Ågeo AS Elephant 2 MNOK 4.6% 46
Lister Oppmåling AS Cheetah 2 MNOK 6.7% 56

The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis

Ownership and roles

Loading roles …

Source: Central Coordinating Register, fetched 3 November 2026. Only names are shown.

Shareholders (2025)

Number of shareholders
2 (one owner holds more than half)
Largest owner
70.0%
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.

Report an issue

Is this your company? Suggest changes or add information

Figures last fetched 8 November 2026.

Details

Year by year · 2023–2025

Key figure202320242025Trend
Index344258
Rank6,6146,2303,579
Operating margin−2.4%1.4%8.3%
Return on assets−4.7%3.2%17.8%
Equity ratio42.1%44.4%47.9%
Current ratio1.891.901.93
Revenue growth–−0.7%24.6%

Accounts

From the Brønnøysund Register Centre, in the company's reporting currency (NOK).

Key figure202320242025
Operating revenue2.0 MNOK2.0 MNOK2.5 MNOK
Operating profit0.0 MNOK0.0 MNOK0.2 MNOK
Profit before tax−0.1 MNOK0.0 MNOK0.2 MNOK
Tax expense0.0 MNOK0.0 MNOK0.1 MNOK
Net profit−0.1 MNOK0.0 MNOK0.1 MNOK
Financial expenses0.0 MNOK0.0 MNOK0.0 MNOK
Total assets1.0 MNOK0.9 MNOK1.2 MNOK
Current assets0.7 MNOK0.8 MNOK1.0 MNOK
Equity0.4 MNOK0.4 MNOK0.6 MNOK
Retained earnings0.4 MNOK0.4 MNOK0.5 MNOK
Total liabilities0.6 MNOK0.5 MNOK0.6 MNOK
Current liabilities0.4 MNOK0.4 MNOK0.5 MNOK

Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 7078863.