Material Testing AS
Score · fiscal year 2024
53of 100
How to read this: the company is ahead of 56 % of companies in the Morning class Small in the same sector in 2024. What does this mean?
Rank in the Morning class Small: 601 of 1,361 · What are Morning company classes?
Place in the whole sector: 1,792 of 4,104 · Teknisk tjenesteyting og forskning
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 89 and solidity 21 out of 100 among companies in the Morning class Small in the same sector in 2024. Methodology
Against the sector
Material Testing AS is 2 points above the median for companies in the Morning class Small in the same sector in 2024.
Median score 51 among 1,361 companies.
Against companies in the Morning class Small in the same sector in 2024: operating margin 23.6% (median 4.8%) and equity ratio 15.7% (median 32.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 10 MNOK | 19 MNOK |
| Operating margin | 23.6% | 4.8% |
| Profit margin | 20.9% | 5.2% |
| Return on assets | 37.9% | 12.3% |
| Equity ratio | 15.7% | 32.6% |
| Debt-to-equity | 5.36 | 1.93 |
| Current ratio | 0.43 | 1.39 |
| Revenue growth | 36.4% | 7.5% |
| Revenue per employee | 1.29 MNOK | 1.55 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 53, Material Testing AS does better than 56% of companies in the Morning class Small in the same sector (1,361 companies) in 2024.
Score 2023–2025
- Material Testing AS
- Median: companies in the Morning class Small in the same sector
What the numbers say
Material Testing AS had an operating margin of 23.6% and an equity ratio of 15.7% in 2024, and ranks 1,792 of 4,104 in Teknisk tjenesteyting og forskning.
From 2023 to 2024: the operating margin rose from 5.3% to 23.6% and the equity ratio rose from −5.7% to 15.7%.
This text is generated automatically from the 2024 accounts.
Three simple methods
The methods give between 2 MNOK and 10 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 8 MNOK |
| EV/EBIT | 15.9 | 10 MNOK |
| P/B | 3.2 | 2 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% on the cost of equity).
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
Worth a closer look
- critical
Consider strengthening liquidity: current liabilities are 2.3 times current assets.
Based on: Current ratio 0.43 (median 1.39).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 36.4% (median 7.5%); Current ratio 0.43 (median 1.39).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.2% of the debt in 2024. The policy rate averaged 4.50 % 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 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 | 89 | weight 30% |
|---|---|---|
| Solidity | 21 | weight 25% |
| Liquidity | 3 | weight 15% |
| Growth | 81 | weight 15% |
| Consistency | 56 | weight 15% |
Durability: 35 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Material Testing AS?
The operating margin was 23.6% in 2024, against a median of 4.8% among companies in the Morning class Small in the same sector. Return on assets was 37.9%.
How solid is Material Testing AS?
The equity ratio was 15.7% in 2024 (median 32.6%). Debt-to-equity was 5.36 (median 1.93).
What is the liquidity of Material Testing AS like?
The current ratio was 0.43 in 2024 (median 1.39). Current assets did not cover current liabilities.
How does Material Testing AS compare in Teknisk tjenesteyting og forskning?
Material Testing AS ranks 1,792 of 4,104 in Teknisk tjenesteyting og forskning for 2024. Among companies in the Morning class Small it is number 601 of 1,361. Revenue changed by 36.4% from the year before.
Group structure · 2025
6 companies in the group according to the shareholder register for 2025. A company counts as a subsidiary when a Norwegian company owns more than half of its shares.
Private persons own 100% of the shares in Heskestad Holding AS. Persons are not shown by name.
Heskestad Holding AS has not filed group accounts in open data, so the group has no index of its own. Each company has its own accounts.
The group in figures
- Sectors
- Industri (1 company), Bygg og anlegg (1 company), Teknisk tjenesteyting og forskning (1 company) 3 of 6 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Employees in Norway
- 110 in all. Sandnes 110 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
-
Heskestad Holding AS
- Material Testing AS you are here
- Va-Tek AS
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.
Source: the Norwegian Tax Administration's shareholder register 2025 (majority owner with more than 50 % of the shares). Voting agreements and ownership through other countries are not included.
From the Central Coordinating Register
- Org. no.
- 926848194
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (71.200)
- Morning company class
- Small
- Employees
- 8 registered 10 February 2026
- Founded
- 17 February 2021 5 years in operation
- Share capital
- 3.20 MNOK
- Business address
- Myrbakken 49, 4110 FORSAND (SANDNES)
- Municipality
- Sandnes rank 4 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
Loading roles …
Source: Central Coordinating Register, fetched 1 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 6 (one owner holds more than half)
- Largest owner
- 56.2% · top three 90.6%
- Split
- companies 56% · private persons 44% · foreign 0%
- Owned from the same municipality
- 3%
- Owners over 60
- 71% of the shares held by persons (median age 63)
- Group chain
-
Owned by: Heskestad Holding AS (56%)
Ultimate owner: private person
- Heskestad Holding AS · 56.2%
- 5 private persons · 43.8%
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.
Figures last fetched 6 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 17 | 53 | 37 | |
| Rank | 3,648 | 1,792 | 3,163 | |
| Operating margin | 5.3% | 23.6% | 6.9% | |
| Return on assets | 3.4% | 37.9% | 11.1% | |
| Equity ratio | −5.7% | 15.7% | 23.4% | |
| Current ratio | 0.13 | 0.43 | 0.55 | |
| Revenue growth | – | 36.4% | −8.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 7.5 MNOK | 10.3 MNOK | 9.4 MNOK |
| Operating profit | 0.4 MNOK | 2.4 MNOK | 0.6 MNOK |
| Profit before tax | 0.1 MNOK | 2.1 MNOK | 0.4 MNOK |
| Tax expense | 0.0 MNOK | 0.5 MNOK | 0.1 MNOK |
| Net profit | 0.0 MNOK | 1.7 MNOK | 0.3 MNOK |
| Financial expenses | 0.3 MNOK | 0.3 MNOK | 0.2 MNOK |
| Total assets | 11.6 MNOK | 6.4 MNOK | 5.8 MNOK |
| Current assets | 1.3 MNOK | 1.7 MNOK | 2.1 MNOK |
| Equity | −0.7 MNOK | 1.0 MNOK | 1.3 MNOK |
| Retained earnings | −3.9 MNOK | −2.2 MNOK | −1.8 MNOK |
| Total liabilities | 12.3 MNOK | 5.4 MNOK | 4.4 MNOK |
| Current liabilities | 10.1 MNOK | 4.0 MNOK | 3.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 5595513.
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