Hyttemasters AS
Score · fiscal year 2025
22of 100
How to read this: the company is ahead of 12 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 11,303 of 12,867 · What are Morning company classes?
Place in the whole sector: 18,120 of 20,337 · Bygg og anlegg
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 19 and solidity 0 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Hyttemasters AS is 28 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 12,860 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −3.4% (median 3.5%) and equity ratio −3.8% (median 32.8%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 2 MNOK | 3 MNOK |
| Operating margin | −3.4% | 3.5% |
| Profit margin | −4.3% | 3.0% |
| Return on assets | −14.1% | 7.8% |
| Equity ratio | −3.8% | 32.8% |
| Debt-to-equity | – | 1.43 |
| Current ratio | 0.73 | 1.41 |
| Revenue growth | 48.1% | 6.0% |
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 22, Hyttemasters AS does better than 12% of companies in the Morning class Micro in the same sector (12,867 companies) in 2025.
Score 2023–2025
- Hyttemasters AS
- Median: companies in the Morning class Micro in the same sector
Hyttemasters AS has a score of 22 for 2025, rank 18,120 of 20,337 in the sector.
Strongest: Growth: percentile 81 against peers, revenue growth 48.1% against a median of 6.0%.
Weakest: Solidity: percentile 0 against peers, equity ratio −3.8% against a median of 32.8%. Consistency: percentile 14 against peers.
Worth a closer look
- Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern? Based on: equity ratio −3.8% (median 32.8%).
- Consider strengthening liquidity: current liabilities are 1.4 times current assets. Based on: current ratio 0.73 (median 1.41).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −4.3% (median 3.0%).
- What lies behind weak solidity, 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 Hyttemasters AS fell by 6.8 percentage points. Comparable companies fell by a median 0.2 points. So the company did 6.7 points weaker than the industry, for reasons of its own.
| Year | The company | Comparable (median) | Change, company | Change, industry | The company's own |
|---|---|---|---|---|---|
| 2025 | −3.4% | 3.5% | −6.8 percentage points | −0.2 percentage points | −6.7 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 Hyttemasters AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
House prices (existing homes) rose 5.5% in 2025; the operating margin of Hyttemasters AS fell 6.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| House prices (existing homes), annual average | 134.5 | 141.6 | 140.8 | 144.6 | 152.5 | 158.7 (so far) |
| Change from the year before | +10.5% | +5.2% | −0.5% | +2.7% | +5.5% | +4.1% |
| The company's operating margin | – | – | – | 3.4% | −3.4% | – |
Source: SSB (07221, CC BY 4.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Hyttemasters AS fell 6.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Construction cost index for dwellings, annual average | 124.2 | 135.1 | 141.1 | 146.4 | 152.7 | 158.4 (so far) |
| Change from the year before | +8.7% | +8.8% | +4.4% | +3.7% | +4.3% | +3.7% |
| The company's operating margin | – | – | – | 3.4% | −3.4% | – |
Source: SSB (08651, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Hyttemasters AS fell 6.8 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 | – | – | – | 3.4% | −3.4% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: specialised construction (indeks)
Wage index: specialised construction rose 5.8% in 2025; the operating margin of Hyttemasters AS fell 6.8 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: specialised construction, annual average | 88.0 | 91.4 | 96.6 | 102.0 | 107.8 | 112.2 (so far) |
| Change from the year before | +3.4% | +3.9% | +5.7% | +5.6% | +5.8% | +4.1% |
| The company's operating margin | – | – | – | 3.4% | −3.4% | – |
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
Hyttemasters AS had an operating margin of −3.4% and an equity ratio of −3.8% in 2025, and ranks 18,120 of 20,337 in Bygg og anlegg.
From 2024 to 2025: went from a profit to a loss before tax and the equity ratio fell from 22.1% to −3.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 16.9 | not meaningful |
| EV/EBIT | 12.7 | not meaningful |
| P/B | 1.6 | not meaningful |
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
Equity is negative. How will it be rebuilt, and what do lenders and the auditor say about going concern?
Based on: Equity ratio −3.8% (median 32.8%).
- watch
Consider strengthening liquidity: current liabilities are 1.4 times current assets.
Based on: Current ratio 0.73 (median 1.41).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −4.3% (median 3.0%).
- watch
The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −3.4% (median 3.5%).
- 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 48.1% (median 6.0%); Current ratio 0.73 (median 1.41).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 3.6% 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
- critical Negative equity
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 | 19 | weight 30% |
|---|---|---|
| Solidity | 0 | weight 25% |
| Liquidity | 17 | weight 15% |
| Growth | 81 | weight 15% |
| Consistency | 14 | weight 15% |
Durability: 29 (average over 2 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Hyttemasters AS?
The operating margin was −3.4% in 2025, against a median of 3.5% among companies in the Morning class Micro in the same sector. Return on assets was −14.1%. The company made a loss before tax.
How solid is Hyttemasters AS?
The equity ratio was −3.8% in 2025 (median 32.8%). Equity is negative, so liabilities exceed assets.
What is the liquidity of Hyttemasters AS like?
The current ratio was 0.73 in 2025 (median 1.41). Current assets did not cover current liabilities.
How does Hyttemasters AS compare in Bygg og anlegg?
Hyttemasters AS ranks 18,120 of 20,337 in Bygg og anlegg for 2025. Among companies in the Morning class Micro it is number 11,303 of 12,867. Revenue changed by 48.1% from the year before.
From the Central Coordinating Register
- Org. no.
- 931220438
- Legal form
- AS
- Sector
- Bygg og anlegg (41.000)
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 16 March 2023 3 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Øvre Eikervei 14, 3048 DRAMMEN
- Municipality
- Drammen rank 10 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 18 April 2023
- 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.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
- Group chain
- Ultimate owner: private person
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 27 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | 36 | 22 | |
| Rank | – | 14,351 | 18,120 | |
| Operating margin | – | 3.4% | −3.4% | |
| Return on assets | 0.0% | 15.3% | −14.1% | |
| Equity ratio | 100.0% | 22.1% | −3.8% | |
| Current ratio | – | 0.66 | 0.73 | |
| Revenue growth | – | – | 48.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | 1.6 MNOK | 2.3 MNOK |
| Operating profit | – | 0.1 MNOK | −0.1 MNOK |
| Profit before tax | 0.0 MNOK | 0.1 MNOK | −0.1 MNOK |
| Tax expense | – | – | – |
| Net profit | 0.0 MNOK | 0.1 MNOK | −0.1 MNOK |
| Financial expenses | – | – | 0.0 MNOK |
| Total assets | 0.0 MNOK | 0.4 MNOK | 0.6 MNOK |
| Current assets | 0.0 MNOK | 0.2 MNOK | 0.4 MNOK |
| Equity | 0.0 MNOK | 0.1 MNOK | 0.0 MNOK |
| Retained earnings | – | 0.1 MNOK | 0.0 MNOK |
| Total liabilities | 0.0 MNOK | 0.3 MNOK | 0.6 MNOK |
| Current liabilities | – | 0.3 MNOK | 0.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 27 October 2026, accounts id 6940002.
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