Sov Eiendom 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
45of 100
How to read this: the company is ahead of 41 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 119 of 200 · What are Morning company classes?
Place in the whole sector: 600 of 994 · Kraft og energi
Profile
Cheetah · Sprinter
High profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 55 and resilience 32 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Sov Eiendom AS is 5 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 200 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 39.8% (median 13.4%) and equity ratio 17.8% (median 38.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 29 MNOK | 22 MNOK |
| Operating margin | 39.8% | 13.4% |
| Profit margin | −4.7% | 11.9% |
| Return on assets | 4.6% | 5.8% |
| Equity ratio | 17.8% | 38.0% |
| Debt-to-equity | 4.63 | 1.53 |
| Current ratio | 2.02 | 1.31 |
| Revenue growth | −4.1% | 8.1% |
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 45, Sov Eiendom AS does better than 41% of companies in the Morning class Small in the same sector (200 companies) in 2025.
Score 2023–2025
- Sov Eiendom AS
- Median: companies in the Morning class Small in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
35 days | 121 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
– | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
4.7% | −11.1% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
3.8% | 39.5% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
0.9 | 1.1 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
6.3% | 4.5% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 74.1% | |
Net working capital (current assets less bank deposits less current liabilities): 1.4 MNOK.
Of the financial costs of 13.7 MNOK, 13.7 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Small in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
Sov Eiendom AS has a score of 45 for 2025, rank 600 of 994 in the sector.
Strongest: Liquidity: percentile 67 against peers, current ratio 2.02 against a median of 1.31.
Weakest: Solidity: percentile 21 against peers, equity ratio 17.8% against a median of 38.0%. Consistency: percentile 36 against peers.
Worth a closer look
- The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say? Based on: interest coverage (times) 0.9 (median 1.1); financial costs as a share of debt 6.3% (median 4.5%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −4.7% (median 11.9%).
- What lies behind weak solidity, and will it last?
- What lies behind weak consistency, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Sov Eiendom AS rose by 5.7 percentage points. Comparable companies rose by a median 2.4 points. So the company did 3.3 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Sov Eiendom AS moved the same way as comparable companies 1 times. About 41% 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 | 34.1% | 11.0% | +4.0 percentage points | −9.4 percentage points | +13.4 percentage points |
| 2025 | 39.8% | 13.4% | +5.7 percentage points | +2.4 percentage points | +3.3 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 Sov Eiendom AS. The figures stand side by side; we claim no cause.
Wholesale power price (øre per kWh)
Wholesale power price rose 9.4% in 2025; the operating margin of Sov Eiendom AS rose 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wholesale power price, annual average | 64.2 | 141.7 | 72.0 | 49.4 | 54.0 | 96.5 (so far) |
| Change from the year before | +466.7% | +120.8% | −49.2% | −31.4% | +9.4% | +78.4% |
| The company's operating margin | – | – | 30.1% | 34.1% | 39.8% | – |
Source: SSB (09363, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Sov Eiendom AS rose 5.7 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 | – | – | 30.1% | 34.1% | 39.8% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: electricity supply (indeks)
Wage index: electricity supply rose 5.7% in 2025; the operating margin of Sov Eiendom AS rose 5.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: electricity supply, annual average | 86.9 | 89.8 | 95.0 | 100.2 | 106.0 | 109.9 (so far) |
| Change from the year before | +4.6% | +3.4% | +5.7% | +5.6% | +5.7% | +3.7% |
| The company's operating margin | – | – | 30.1% | 34.1% | 39.8% | – |
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
Sov Eiendom AS had an operating margin of 39.8% and an equity ratio of 17.8% in 2025, and ranks 600 of 994 in Kraft og energi.
From 2024 to 2025: the operating margin rose from 34.1% to 39.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 43 MNOK and 70 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 14.0 | not meaningful |
| EV/EBIT | 11.1 | 70 MNOK |
| P/B | 1.5 | 43 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 114 MNOK |
| Enterprise value after the size adjustment | 70 MNOK |
| Less net debt (rough figure) | 0 MNOK |
| Equity value | 70 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 multiples are from the listed industry that matches the NACE code (35.3): Utility (General).
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
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) 0.9 (median 1.1); Financial costs as a share of debt 6.3% (median 4.5%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −4.7% (median 11.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.3% 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 3.3%. Based on the 5 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 55 | weight 40% |
|---|---|---|
| Solidity | 21 | weight 20% |
| Liquidity | 67 | weight 5% |
| Growth | 45 | weight 25% |
| Consistency | 36 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 41 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Sov Eiendom AS?
The operating margin was 39.8% in 2025, against a median of 13.4% among companies in the Morning class Small in the same sector. Return on assets was 4.6%. The company made a loss before tax.
How solid is Sov Eiendom AS?
The equity ratio was 17.8% in 2025 (median 38.0%). Debt-to-equity was 4.63 (median 1.53).
What is the liquidity of Sov Eiendom AS like?
The current ratio was 2.02 in 2025 (median 1.31).
How does Sov Eiendom AS compare in Kraft og energi?
Sov Eiendom AS ranks 600 of 994 in Kraft og energi for 2025. Among companies in the Morning class Small it is number 119 of 200. Revenue changed by −4.1% 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 |
|---|---|---|---|---|
| NK Energieiendom Drift AS · same municipality |  Cheetah |
41 MNOK | 25.2% | 45 |
| Solør Bioenergi Jessheim AS |  Beaver |
39 MNOK | 8.0% | 32 |
| Inntre Energi AS | Beaver |
34 MNOK | 1.5% | 41 |
| Trysil Fjernvarme AS |  Lion |
33 MNOK | 15.5% | 58 |
| Sov Eiendom AS (this company) | Cheetah |
29 MNOK | 39.8% | 45 |
| Nord Energi AS | Lion |
28 MNOK | 15.9% | 66 |
| Fritzøe Energi AS |  Elephant |
25 MNOK | 14.3% | 48 |
| BT Energidrift AS | Lion |
25 MNOK | 15.7% | 67 |
| Inntre Energi Steinkjer AS | Cheetah |
21 MNOK | 24.7% | 56 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Group structure · 2025
32 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.
No owner holds more than half of the shares in Wilog Newco AS.
Wilog Newco 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
- Eiendom (30 companies), Kraft og energi (2 companies) 32 of 32 companies in the tree have accounts with us. Sectors are sorted by the companies' own revenue, which includes sales between the group's companies.
- Loss
- 15 companies: Sov Eiendom AS, Glv 3-9 AS, Tverrveien 4 AS, Bki Prof.Birkelandsvei 26 AS, Jernkroken 18 AS, Stanseveien 9 AS …
- Changed 2024–2025
- 1 company joined the group: Maria Dehlis Vei 40 AS.
A subsidiary with negative equity or a loss may be backed by the group, for example with group contributions or guarantees. It is an indication of what is worth asking about, not an assessment.
-
Wilog Newco AS
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Oslo Lager Invest AS
-
Sov Eiendom AS you are here
- K102 Eiendom AS
- Strømsveien Logistikkinvest AS
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-
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.
- 927676893
- Legal form
- AS
- Sector
- Kraft og energi (35.300)
- Morning company class
- Small
- Employees
- 0–4 (not registered)
- Founded
- 27 August 2021 5 years in operation
- Share capital
- 0.03 MNOK
- Business address
- c/o Amesto AccountHouse AS, Smeltedigelen 1, 0195 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 4 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%
- Owned from the same municipality
- 100%
- Group chain
-
Owned by: Oslo Lager Invest AS (100%)
Ultimate owner: Wilog Newco AS
The owner: the majority owner Oslo Lager Invest 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.
- Oslo Lager Invest AS · 100.0%
The company is new in the shareholder register in 2025.
Majority owner of: Sov 2-8 Energi AS (100%)
Holds shares in: Sov 2-8 Energi AS (100%)
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 9 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 30 | 49 | 45 | |
| Rank | 775 | 542 | 600 | |
| Operating margin | 30.1% | 34.1% | 39.8% | |
| Return on assets | 3.1% | 4.0% | 4.6% | |
| Equity ratio | 18.3% | 18.1% | 17.8% | |
| Current ratio | 0.13 | 0.38 | 2.02 | |
| Revenue growth | – | 7.0% | −4.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 28.6 MNOK | 30.6 MNOK | 29.4 MNOK |
| Operating profit | 8.6 MNOK | 10.4 MNOK | 11.7 MNOK |
| Profit before tax | −4.0 MNOK | −3.7 MNOK | −1.4 MNOK |
| Tax expense | −0.4 MNOK | −0.8 MNOK | −0.3 MNOK |
| Net profit | −3.6 MNOK | −2.9 MNOK | −1.1 MNOK |
| Financial expenses | 12.6 MNOK | 14.3 MNOK | 13.7 MNOK |
| Total assets | 278.2 MNOK | 266.2 MNOK | 264.7 MNOK |
| Current assets | 3.1 MNOK | 0.9 MNOK | 3.0 MNOK |
| Equity | 51.0 MNOK | 48.1 MNOK | 47.0 MNOK |
| Retained earnings | 0.0 MNOK | 0.0 MNOK | −1.1 MNOK |
| Total liabilities | 227.3 MNOK | 218.1 MNOK | 217.6 MNOK |
| Current liabilities | 23.3 MNOK | 2.5 MNOK | 1.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 7178975.
Further
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