BLUE TERN OPERATIONS AS
Score · fiscal year 2025
86of 100
How to read this: the company is ahead of 99 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 3 of 154 · What are Morning company classes?
Place in the whole sector: 183 of 20,428 · Bygg og anlegg
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 97 and solidity 99 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
BLUE TERN OPERATIONS AS is 35 points above the median for companies in the Morning class Large in the same sector in 2025.
Median score 51 among 154 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 14.0% (median 4.1%) and equity ratio 80.7% (median 23.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 721 MNOK | 898 MNOK |
| Operating margin | 14.0% | 4.1% |
| Profit margin | 14.3% | 4.6% |
| Return on assets | 35.2% | 10.3% |
| Equity ratio | 80.7% | 23.9% |
| Debt-to-equity | 0.24 | 3.17 |
| Current ratio | 4.52 | 1.22 |
| Revenue growth | 5.3% | 5.2% |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 86, BLUE TERN OPERATIONS AS does better than 99% of companies in the Morning class Large in the same sector (154 companies) in 2025.
Score 2023–2025
- BLUE TERN OPERATIONS AS
- Median: companies in the Morning class Large in the same sector
BLUE TERN OPERATIONS AS has a score of 86 for 2025, rank 183 of 20,428 in the sector.
Strongest: Solidity: percentile 99 against peers, equity ratio 80.7% against a median of 23.9%. Liquidity: percentile 97 against peers, current ratio 4.52 against a median of 1.22.
No area is clearly below its peers.
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
BLUE TERN OPERATIONS AS had an operating margin of 14.0% and an equity ratio of 80.7% in 2025, and ranks 183 of 20,428 in Bygg og anlegg.
From 2024 to 2025: the equity ratio rose from 42.6% to 80.7% and the operating margin rose from 11.1% to 14.0%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 21 MEUR and 88 MEUR.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 88 MEUR |
| EV/EBIT | 8.0 | 73 MEUR |
| P/B | 1.0 | 21 MEUR |
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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 14.0% (median 4.1%); Equity ratio 80.7% (median 23.9%); Current ratio 4.52 (median 1.22).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.7% 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
- watch Reports in a currency other than NOK
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 1.8%. 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 | 97 | weight 30% |
|---|---|---|
| Solidity | 99 | weight 25% |
| Liquidity | 97 | weight 15% |
| Growth | 50 | weight 15% |
| Consistency | 68 | weight 15% |
Durability: 65 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is BLUE TERN OPERATIONS AS?
The operating margin was 14.0% in 2025, against a median of 4.1% among companies in the Morning class Large in the same sector. Return on assets was 35.2%.
How solid is BLUE TERN OPERATIONS AS?
The equity ratio was 80.7% in 2025 (median 23.9%). Debt-to-equity was 0.24 (median 3.17).
What is the liquidity of BLUE TERN OPERATIONS AS like?
The current ratio was 4.52 in 2025 (median 1.22).
How does BLUE TERN OPERATIONS AS compare in Bygg og anlegg?
BLUE TERN OPERATIONS AS ranks 183 of 20,428 in Bygg og anlegg for 2025. Among companies in the Morning class Large it is number 3 of 154. Revenue changed by 5.3% from the year before.
From the Central Coordinating Register
- Org. no.
- 923266968
- Legal form
- AS
- Sector
- Bygg og anlegg (42.221)
- Morning company class
- Large
- Employees
- 0–4 (not registered)
- Founded
- 12 August 2019 7 years in operation
- Share capital
- 0.30 MNOK
- Business address
- Fred. Olsens gate 2, 0152 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- 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
- Haakon Magne Ore
- Board member
- Weiguang Gu
- Auditor
- KPMG 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 | 27 | 82 | 86 | |
| Rank | 14,880 | 518 | 183 | |
| Operating margin | 0.4% | 11.1% | 14.0% | |
| Return on assets | 5.6% | 25.4% | 35.2% | |
| Equity ratio | 20.0% | 42.6% | 80.7% | |
| Current ratio | 1.07 | 1.52 | 4.52 | |
| Revenue growth | – | 2.9% | 5.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (EUR). Revenue in NOK is converted from EUR at the mean rate for the accounting period 1 January 2025–31 December 2025: 11.7177 (norges_bank). Balance-sheet amounts use the rate on the balance-sheet date. Ratios and growth are computed in EUR. Exchange rates at Norges Bank
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 56.8 MEUR | 58.5 MEUR | 61.6 MEUR |
| Operating profit | 0.3 MEUR | 6.5 MEUR | 8.6 MEUR |
| Profit before tax | 1.0 MEUR | 6.6 MEUR | 8.8 MEUR |
| Net profit | 0.8 MEUR | 5.3 MEUR | 8.8 MEUR |
| Financial expenses | 0.4 MEUR | 0.3 MEUR | 0.1 MEUR |
| Total assets | 25.4 MEUR | 27.5 MEUR | 25.4 MEUR |
| Current assets | 21.6 MEUR | 23.7 MEUR | 21.7 MEUR |
| Equity | 5.1 MEUR | 11.7 MEUR | 20.5 MEUR |
| Retained earnings | 0.3 MEUR | 7.0 MEUR | 15.8 MEUR |
| Total liabilities | 20.3 MEUR | 15.8 MEUR | 4.9 MEUR |
| Current liabilities | 20.1 MEUR | 15.6 MEUR | 4.8 MEUR |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 26 October 2026, accounts id 7088157.
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