HEATING. AS
Score · fiscal year 2023
64of 100
How to read this: the company is ahead of 71 % of companies in the Morning class Small in the same sector in 2023. What does this mean?
Rank in the Morning class Small: 1,481 of 5,108 · What are Morning company classes?
Place in the whole sector: 5,404 of 18,347 · Bygg og anlegg
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 79 and solidity 52 out of 100 among companies in the Morning class Small in the same sector in 2023. Methodology
Against the sector
HEATING. AS is 13 points above the median for companies in the Morning class Small in the same sector in 2023.
Median score 51 among 5,108 companies.
Against companies in the Morning class Small in the same sector in 2023: operating margin 10.1% (median 5.0%) and equity ratio 36.4% (median 34.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 15 MNOK | 19 MNOK |
| Operating margin | 10.1% | 5.0% |
| Profit margin | 10.0% | 4.7% |
| Return on assets | 26.2% | 11.6% |
| Equity ratio | 36.4% | 34.1% |
| Debt-to-equity | 1.75 | 1.80 |
| Current ratio | 1.55 | 1.46 |
| Revenue growth | – | 3.3% |
| Revenue per employee | 2.99 MNOK | 1.66 MNOK |
The median and “ahead of” refer to companies in the Morning class Small in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 64, HEATING. AS does better than 71% of companies in the Morning class Small in the same sector (5,108 companies) in 2023.
Score 2023–2025
- HEATING. AS
- Median: companies in the Morning class Small in the same sector
What the numbers say
HEATING. AS had an operating margin of 10.1% and an equity ratio of 36.4% in 2023, and ranks 5,404 of 18,347 in Bygg og anlegg.
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 2 MNOK and 16 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 12 MNOK |
| EV/EBIT | 8.0 | 16 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
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 0.1% of the debt in 2023. The policy rate averaged 3.54 % 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 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 | 79 | weight 30% |
|---|---|---|
| Solidity | 52 | weight 25% |
| Liquidity | 56 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 62 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is HEATING. AS?
The operating margin was 10.1% in 2023, against a median of 5.0% among companies in the Morning class Small in the same sector. Return on assets was 26.2%.
How solid is HEATING. AS?
The equity ratio was 36.4% in 2023 (median 34.1%). Debt-to-equity was 1.75 (median 1.80).
What is the liquidity of HEATING. AS like?
The current ratio was 1.55 in 2023 (median 1.46).
How does HEATING. AS compare in Bygg og anlegg?
HEATING. AS ranks 5,404 of 18,347 in Bygg og anlegg for 2023. Among companies in the Morning class Small it is number 1,481 of 5,108.
From the Central Coordinating Register
- Org. no.
- 927535238
- Legal form
- AS
- Sector
- Bygg og anlegg (43.221)
- Morning company class
- Small
- Employees
- 5 registered 10 June 2025
- Founded
- 22 July 2021 5 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Brynsveien 12, 0667 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
Loading roles …
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 | 64 | 49 | 29 | |
| Rank | 5,404 | 10,088 | 16,961 | |
| Operating margin | 10.1% | 4.3% | −0.3% | |
| Return on assets | 26.2% | 19.3% | −0.3% | |
| Equity ratio | 36.4% | 33.8% | 21.5% | |
| Current ratio | 1.55 | 1.48 | 1.73 | |
| Revenue growth | – | −5.2% | −22.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 14.9 MNOK | 14.2 MNOK | 10.9 MNOK |
| Operating profit | 1.5 MNOK | 0.6 MNOK | 0.0 MNOK |
| Profit before tax | 1.5 MNOK | 0.6 MNOK | 0.0 MNOK |
| Net profit | 1.2 MNOK | 0.5 MNOK | 0.0 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 5.8 MNOK | 3.2 MNOK | 4.8 MNOK |
| Current assets | 5.7 MNOK | 3.1 MNOK | 3.3 MNOK |
| Equity | 2.1 MNOK | 1.1 MNOK | 1.0 MNOK |
| Retained earnings | 2.1 MNOK | 1.0 MNOK | 1.0 MNOK |
| Total liabilities | 3.7 MNOK | 2.1 MNOK | 3.8 MNOK |
| Current liabilities | 3.7 MNOK | 2.1 MNOK | 1.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 5444715.
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