NORFAS AS
Score · fiscal year 2025
82of 100
How to read this: the company is ahead of 98 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 261 of 11,388 · What are Morning company classes?
Place in the whole sector: 500 of 23,059 · Handel
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 90 and solidity 79 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
NORFAS AS is 32 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 11,385 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 15.1% (median 2.6%) and equity ratio 69.2% (median 33.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 8 MNOK | 4 MNOK |
| Operating margin | 15.1% | 2.6% |
| Profit margin | 14.4% | 2.2% |
| Return on assets | 49.7% | 6.2% |
| Equity ratio | 69.2% | 33.8% |
| Debt-to-equity | 0.44 | 1.23 |
| Current ratio | 3.25 | 1.75 |
| Revenue growth | 40.1% | 4.0% |
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 82, NORFAS AS does better than 98% of companies in the Morning class Micro in the same sector (11,388 companies) in 2025.
Score 2023–2025
- NORFAS AS
- Median: companies in the Morning class Micro in the same sector
NORFAS AS has a score of 82 for 2025, rank 500 of 23,059 in the sector.
Strongest: Profitability: percentile 90 against peers, operating margin 15.1% against a median of 2.6%. Growth: percentile 84 against peers, revenue growth 40.1% against a median of 4.0%.
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
NORFAS AS had an operating margin of 15.1% and an equity ratio of 69.2% in 2025, and ranks 500 of 23,059 in Handel.
From 2024 to 2025: the operating margin rose from 7.0% to 15.1% and revenue grew by 40%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 11 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 9 MNOK |
| EV/EBIT | 8.0 | 11 MNOK |
| P/B | 1.0 | 2 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 15.1% (median 2.6%); Equity ratio 69.2% (median 33.8%); Current ratio 3.25 (median 1.75).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 9.9% 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 90 | weight 30% |
|---|---|---|
| Solidity | 79 | weight 25% |
| Liquidity | 76 | weight 15% |
| Growth | 84 | weight 15% |
| Consistency | 78 | weight 15% |
Durability: 70 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is NORFAS AS?
The operating margin was 15.1% in 2025, against a median of 2.6% among companies in the Morning class Micro in the same sector. Return on assets was 49.7%.
How solid is NORFAS AS?
The equity ratio was 69.2% in 2025 (median 33.8%). Debt-to-equity was 0.44 (median 1.23).
What is the liquidity of NORFAS AS like?
The current ratio was 3.25 in 2025 (median 1.75).
How does NORFAS AS compare in Handel?
NORFAS AS ranks 500 of 23,059 in Handel for 2025. Among companies in the Morning class Micro it is number 261 of 11,388. Revenue changed by 40.1% from the year before.
From the Central Coordinating Register
- Org. no.
- 926832158
- Legal form
- AS
- Sector
- Handel (47.520)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 26 February 2021 5 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Gråterudveien 41, 3036 DRAMMEN
- Municipality
- Drammen rank 10 of 11 in KOSTRA group 12
- 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
- Chief executive
- Trond Arne Reinholdtsen
- Chair of the board
- Geir Fossum
- Board member
- Hilde Elisabeth Horn Gilen
- Auditor
- CEDRA NORGE 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 27 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 59 | 67 | 82 | |
| Rank | 7,580 | 4,229 | 500 | |
| Operating margin | 5.9% | 7.0% | 15.1% | |
| Return on assets | 24.6% | 25.5% | 49.7% | |
| Equity ratio | 38.3% | 49.7% | 69.2% | |
| Current ratio | 1.62 | 1.99 | 3.25 | |
| Revenue growth | – | 9.3% | 40.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 5.2 MNOK | 5.7 MNOK | 8.0 MNOK |
| Operating profit | 0.3 MNOK | 0.4 MNOK | 1.2 MNOK |
| Profit before tax | 0.3 MNOK | 0.4 MNOK | 1.2 MNOK |
| Net profit | 0.2 MNOK | 0.3 MNOK | 0.9 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 1.4 MNOK | 1.6 MNOK | 2.5 MNOK |
| Current assets | 1.4 MNOK | 1.6 MNOK | 2.5 MNOK |
| Equity | 0.5 MNOK | 0.8 MNOK | 1.7 MNOK |
| Retained earnings | 0.5 MNOK | 0.8 MNOK | 1.7 MNOK |
| Total liabilities | 0.8 MNOK | 0.8 MNOK | 0.8 MNOK |
| Current liabilities | 0.8 MNOK | 0.8 MNOK | 0.8 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 7094973.
Further
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