Silfer AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Score · fiscal year 2025
68of 100
How to read this: the company is ahead of 85 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 347 of 2,242 · What are Morning company classes?
Place in the whole sector: 497 of 3,401 · Revisjon, regnskap og rådgivning
Profile
Lion · Leader
High profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 73 and resilience 55 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Silfer AS is 17 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 2,242 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 20.6% (median 9.0%) and equity ratio 51.5% (median 41.9%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 7 MNOK | 3 MNOK |
| Operating margin | 20.6% | 9.0% |
| Profit margin | 20.9% | 9.6% |
| Return on assets | 33.9% | 16.9% |
| Equity ratio | 51.5% | 41.9% |
| Debt-to-equity | 0.94 | 1.22 |
| Current ratio | 1.13 | 1.62 |
| Revenue growth | 29.6% | 5.7% |
| Revenue per employee | 1.49 MNOK | 0.93 MNOK |
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 68, Silfer AS does better than 85% of companies in the Morning class Micro in the same sector (2,242 companies) in 2025.
Score 2023–2025
- Silfer AS
- Median: companies in the Morning class Micro in the same sector
Silfer AS has a score of 68 for 2025, rank 497 of 3,401 in the sector.
Strongest: Growth: percentile 77 against peers, revenue growth 29.6% against a median of 5.7%. Profitability: percentile 73 against peers, operating margin 20.6% against a median of 9.0%.
Weakest: Liquidity: percentile 26 against peers, current ratio 1.13 against a median of 1.62.
Worth a closer look
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 29.6% (median 5.7%); current ratio 1.13 (median 1.62).
- The change in operating margin in 2025 was 7.7 percentage points better than for comparable companies: the company +7.3, the industry −0.4 points. That is the company's own, not something that hit the whole industry.
Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made
The industry or the company: what drove the result?
In 2025 the operating margin of Silfer AS rose by 7.3 percentage points. Comparable companies fell by a median 0.4 points. So the company did 7.7 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Silfer AS moved the same way as comparable companies 1 times. About 8% of the changes in operating margin were common to the industry; the rest was the company's own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2024 | 13.3% | 9.5% | −0.5 percentage points | −0.3 percentage points | −0.3 percentage points |
| 2025 | 20.6% | 9.0% | +7.3 percentage points | −0.4 percentage points | +7.7 percentage points |
Comparable companies are those in the same industry and Morning company class. Their change shows what hit the whole industry, the sector drivers below included. The rest is the company's own: contracts, costs, one-off items or operations. The share is approximate, and we claim no cause.
The company and its sector's drivers
Prices, rate and currency that shape the sector's year, year by year beside the operating margin of Silfer AS. The figures stand side by side; we claim no cause.
Turnover index: legal and accounting activities (indeks (2021 = 100))
Turnover index: legal and accounting activities rose 4.8% in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: legal and accounting activities, annual average | 100.4 | 107.7 | 127.0 | 135.2 | 141.7 | 149.6 (so far) |
| Change from the year before | +8.7% | +7.3% | +17.9% | +6.4% | +4.8% | +5.5% |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: management consultancy (indeks (2021 = 100))
Turnover index: management consultancy rose 6.5% in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: management consultancy, annual average | 99.4 | 104.0 | 114.9 | 116.0 | 123.6 | 128.7 (so far) |
| Change from the year before | +17.3% | +4.6% | +10.5% | +1.0% | +6.5% | +4.1% |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: legal and accounting (indeks (2021 = 100))
Service prices: legal and accounting rose 4.9% in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: legal and accounting, annual average | 100.0 | 104.8 | 111.8 | 117.4 | 123.2 | 127.0 (so far) |
| Change from the year before | +3.4% | +4.8% | +6.7% | +5.0% | +4.9% | +3.1% |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: SSB (14335, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Policy rate, annual average | 0.08 | 1.32 | 3.54 | 4.50 | 4.30 | 4.17 (so far) |
| Change from the year before | −0.28 percentage points | +1.24 percentage points | +2.22 percentage points | +0.96 percentage points | −0.20 percentage points | −0.12 percentage points |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: legal and accounting (indeks)
Wage index: legal and accounting rose 5.4% in 2025; the operating margin of Silfer AS rose 7.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: legal and accounting, annual average | 86.2 | 89.8 | 93.9 | 99.1 | 104.4 | 108.4 (so far) |
| Change from the year before | +5.1% | +4.3% | +4.5% | +5.6% | +5.4% | +3.8% |
| The company's operating margin | – | – | 13.8% | 13.3% | 20.6% | – |
Source: SSB (12314, CC BY 4.0). Source
We show the drivers and the margin side by side and claim no cause. Sensitivity per company is not computed until we have at least 10 years of accounts per company: with three years such figures are false precision.
What the numbers say
Silfer AS had an operating margin of 20.6% and an equity ratio of 51.5% in 2025, and ranks 497 of 3,401 in Revisjon, regnskap og rådgivning.
From 2024 to 2025: the operating margin rose from 13.3% to 20.6% and the equity ratio fell from 66.5% to 51.5%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 6 MNOK and 12 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | 12 MNOK |
| EV/EBIT | 17.4 | 12 MNOK |
| P/B | 4.1 | 6 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 18 MNOK |
| Enterprise value after the size adjustment | 11 MNOK |
| Less net debt (rough figure) | −1 MNOK |
| Equity value | 12 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The NACE code has no listed industry of its own in the table, so the multiples are the sector median: Business & Consumer Services.
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
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
- 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 29.6% (median 5.7%); Current ratio 1.13 (median 1.62).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.1% 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of 5.4%. Based on the 7 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 73 | weight 40% |
|---|---|---|
| Solidity | 58 | weight 20% |
| Liquidity | 26 | weight 5% |
| Growth | 77 | weight 25% |
| Consistency | 65 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 53 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Silfer AS?
The operating margin was 20.6% in 2025, against a median of 9.0% among companies in the Morning class Micro in the same sector. Return on assets was 33.9%.
How solid is Silfer AS?
The equity ratio was 51.5% in 2025 (median 41.9%). Debt-to-equity was 0.94 (median 1.22).
What is the liquidity of Silfer AS like?
The current ratio was 1.13 in 2025 (median 1.62).
How does Silfer AS compare in Revisjon, regnskap og rådgivning?
Silfer AS ranks 497 of 3,401 in Revisjon, regnskap og rådgivning for 2025. Among companies in the Morning class Micro it is number 347 of 2,242. Revenue changed by 29.6% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Økoråd Nordsalten AS |  Beaver |
7 MNOK | 2.0% | 35 |
| First Accounting AS |  Lion |
7 MNOK | 10.3% | 62 |
| Norsk Regnskap og Inkasso AS · same municipality |  Elephant |
7 MNOK | −5.0% | 36 |
| Vik Rekneskap AS | Beaver |
7 MNOK | 1.0% | 33 |
| Lima Regnskap AS |  Cheetah |
7 MNOK | 15.3% | 54 |
| Trio Regnskap AS · same municipality | Cheetah |
7 MNOK | 9.7% | 47 |
| Silfer AS (this company) | Lion |
7 MNOK | 20.6% | 68 |
| Finansco Forretningsførsel AS · same municipality | Beaver |
7 MNOK | −6.2% | 28 |
| Roan Økonomi AS · same municipality | Cheetah |
7 MNOK | 14.6% | 54 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
From the Central Coordinating Register
- Org. no.
- 927657899
- Legal form
- AS
- Sector
- Revisjon, regnskap og rådgivning (69.202)
- Morning company class
- Micro
- Employees
- 5 registered 10 September 2026
- Founded
- 9 August 2021 5 years in operation
- Share capital
- 0.06 MNOK
- Business address
- c/o Silfer AS, Valkyriegata 15A, 0366 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- Website
- silfer.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 1 November 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%
- Group chain
- Ultimate owner: Apex Equity AS
- Apex Equity AS · 100.0%
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.
Is this your company? Suggest changes or add information
Figures last fetched 8 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 39 | 54 | 68 | |
| Rank | 2,277 | 1,458 | 497 | |
| Operating margin | 13.8% | 13.3% | 20.6% | |
| Return on assets | 19.9% | 18.4% | 33.9% | |
| Equity ratio | 7.5% | 66.5% | 51.5% | |
| Current ratio | 1.30 | 1.55 | 1.13 | |
| Revenue growth | – | −12.1% | 29.6% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 6.5 MNOK | 5.7 MNOK | 7.4 MNOK |
| Operating profit | 0.9 MNOK | 0.8 MNOK | 1.5 MNOK |
| Profit before tax | 0.9 MNOK | 0.8 MNOK | 1.5 MNOK |
| Tax expense | 0.0 MNOK | 0.2 MNOK | 0.3 MNOK |
| Net profit | 0.9 MNOK | 0.6 MNOK | 1.2 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 4.5 MNOK | 4.2 MNOK | 4.6 MNOK |
| Current assets | 1.5 MNOK | 1.5 MNOK | 2.3 MNOK |
| Equity | 0.3 MNOK | 2.8 MNOK | 2.4 MNOK |
| Retained earnings | 0.3 MNOK | 0.9 MNOK | 0.5 MNOK |
| Total liabilities | 4.2 MNOK | 1.4 MNOK | 2.2 MNOK |
| Current liabilities | 1.1 MNOK | 0.9 MNOK | 2.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 6955088.
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