Plug AS
Score · fiscal year 2025
27of 100
How to read this: the company is ahead of 12 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 988 of 1,124 · What are Morning company classes?
Place in the whole sector: 3,113 of 3,597 · Teknisk tjenesteyting og forskning
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 6 and solidity 55 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Plug AS is 24 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 1,124 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −346.0% (median 5.2%) and equity ratio 38.5% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 13 MNOK | 22 MNOK |
| Operating margin | −346.0% | 5.2% |
| Profit margin | −299.4% | 5.1% |
| Return on assets | −15.4% | 13.3% |
| Equity ratio | 38.5% | 33.1% |
| Debt-to-equity | 1.60 | 1.78 |
| Current ratio | 0.50 | 1.42 |
| Revenue growth | 10.6% | 8.8% |
| Revenue per employee | 0.49 MNOK | 1.55 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 27, Plug AS does better than 12% of companies in the Morning class Small in the same sector (1,124 companies) in 2025.
Score 2023–2025
- Plug AS
- Median: companies in the Morning class Small in the same sector
Plug AS has a score of 27 for 2025, rank 3,113 of 3,597 in the sector.
Strongest: Solidity: percentile 55 against peers, equity ratio 38.5% against a median of 33.1%.
Weakest: Liquidity: percentile 4 against peers, current ratio 0.50 against a median of 1.42. Profitability: percentile 6 against peers, operating margin −346.0% against a median of 5.2%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.0 times current assets. Based on: current ratio 0.50 (median 1.42).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −299.4% (median 5.1%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −346.0% (median 5.2%).
- What lies behind weak profitability, 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
Plug AS had an operating margin of −346.0% and an equity ratio of 38.5% in 2025, and ranks 3,113 of 3,597 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the operating margin rose from −398.1% to −346.0% and revenue grew by 11%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 78 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | not meaningful |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 78 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
- watch
Consider strengthening liquidity: current liabilities are 2.0 times current assets.
Based on: Current ratio 0.50 (median 1.42).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −299.4% (median 5.1%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −346.0% (median 5.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.5% 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
- watch Extreme margin: check 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 | 6 | weight 30% |
|---|---|---|
| Solidity | 55 | weight 25% |
| Liquidity | 4 | weight 15% |
| Growth | 53 | weight 15% |
| Consistency | 21 | weight 15% |
Durability: 26 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Plug AS?
The operating margin was −346.0% in 2025, against a median of 5.2% among companies in the Morning class Small in the same sector. Return on assets was −15.4%. The company made a loss before tax.
How solid is Plug AS?
The equity ratio was 38.5% in 2025 (median 33.1%). Debt-to-equity was 1.60 (median 1.78).
What is the liquidity of Plug AS like?
The current ratio was 0.50 in 2025 (median 1.42). Current assets did not cover current liabilities.
How does Plug AS compare in Teknisk tjenesteyting og forskning?
Plug AS ranks 3,113 of 3,597 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Small it is number 988 of 1,124. Revenue changed by 10.6% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 924209089
- Legal form
- AS · part of a group
- Sector
- Teknisk tjenesteyting og forskning (71.129)
- Morning company class
- Small
- Employees
- 26 registered 10 July 2026
- Founded
- 22 October 2019 7 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Solheimsgaten 5, 5058 BERGEN
- Municipality
- Bergen rank 8 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.plugport.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 31 October 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: Eviny Elektrifisering AS (100%)
Ultimate owner: Eviny AS
The owner: the majority owner Eviny Elektrifisering AS (holds 100%) made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- Eviny Elektrifisering AS · 100.0%
The company is new in the shareholder register in 2025.
Majority owner of: Plug Utland AS (100%), Plug Eidfjord AS (65%)
The portfolio: 6 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 54. 1 have negative equity and 2 made a loss in the latest year.
Holds shares in: Plug Bergen AS (50%), Plug Eidfjord AS (65%), Plug Narvik AS (30%), Plug Larvik AS (50%), Plug Ålesund AS (50%), Plug Nordfjord AS (50%), Plug Rubben AS (50%), Plug Hadsel AS (50%)
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 4 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 23 | 28 | 27 | |
| Rank | 3,005 | 3,040 | 3,113 | |
| Operating margin | −323.1% | −398.1% | −346.0% | |
| Return on assets | −20.8% | −24.2% | −15.4% | |
| Equity ratio | 37.4% | 37.0% | 38.5% | |
| Current ratio | 0.69 | 0.59 | 0.50 | |
| Revenue growth | – | 8.7% | 10.6% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 10.6 MNOK | 11.5 MNOK | 12.8 MNOK |
| Operating profit | −34.3 MNOK | −45.9 MNOK | −44.1 MNOK |
| Profit before tax | −38.7 MNOK | −47.7 MNOK | −38.2 MNOK |
| Tax expense | – | – | – |
| Net profit | −30.4 MNOK | −36.4 MNOK | −27.1 MNOK |
| Financial expenses | 3.8 MNOK | 5.7 MNOK | 6.8 MNOK |
| Total assets | 167.6 MNOK | 173.2 MNOK | 203.4 MNOK |
| Current assets | 72.0 MNOK | 64.8 MNOK | 63.2 MNOK |
| Equity | 62.7 MNOK | 64.1 MNOK | 78.2 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 104.9 MNOK | 109.1 MNOK | 125.2 MNOK |
| Current liabilities | 104.9 MNOK | 109.1 MNOK | 125.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 4 November 2026, accounts id 6910554.
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