AJ Shared Services 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
19of 100
How to read this: the company is ahead of 4 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 908 of 942 · What are Morning company classes?
Place in the whole sector: 3,231 of 3,401 · Revisjon, regnskap og rådgivning
Profile
Beaver · Builder
Lower profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 19 and resilience 19 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
AJ Shared Services AS is 32 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 942 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 1.7% (median 9.7%) and equity ratio 2.0% (median 26.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 12 MNOK | 18 MNOK |
| Operating margin | 1.7% | 9.7% |
| Profit margin | 1.6% | 10.3% |
| Return on assets | 2.2% | 23.8% |
| Equity ratio | 2.0% | 26.2% |
| Debt-to-equity | 48.80 | 2.66 |
| Current ratio | 1.43 | 1.29 |
| Revenue growth | – | 8.3% |
| Revenue per employee | 2.40 MNOK | 1.59 MNOK |
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 19, AJ Shared Services AS does better than 4% of companies in the Morning class Small in the same sector (942 companies) in 2025.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
AJ Shared Services AS has a score of 19 for 2025, rank 3,231 of 3,401 in the sector.
Strongest: Liquidity: percentile 61 against peers, current ratio 1.43 against a median of 1.29.
Weakest: Solidity: percentile 8 against peers, equity ratio 2.0% against a median of 26.2%. Profitability: percentile 19 against peers, operating margin 1.7% against a median of 9.7%.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 2.0% (median 26.2%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin 1.7% (median 9.7%).
- What lies behind weak solidity, and will it last?
- What lies behind weak profitability, 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?
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 AJ Shared Services AS. The figures stand side by side; we claim no cause.
Turnover index: legal and accounting activities (indeks (2021 = 100))
| 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 | – | – | – | – | 1.7% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: management consultancy (indeks (2021 = 100))
| 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 | – | – | – | – | 1.7% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: legal and accounting (indeks (2021 = 100))
| 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 | – | – | – | – | 1.7% | – |
Source: SSB (14335, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
| 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 | – | – | – | – | 1.7% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
| 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 | – | – | – | – | 1.7% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: legal and accounting (indeks)
| 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 | – | – | – | – | 1.7% | – |
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
AJ Shared Services AS had an operating margin of 1.7% and an equity ratio of 2.0% in 2025, and ranks 3,231 of 3,401 in Revisjon, regnskap og rådgivning.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 0 MNOK and 2 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 22.4 | 2 MNOK |
| EV/EBIT | 17.4 | debt above value |
| P/B | 4.1 | 0 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 3 MNOK |
| Enterprise value after the size adjustment | 2 MNOK |
| Less net debt (rough figure) | 5 MNOK |
| Equity value | debt above value |
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. Net debt is 245% of the enterprise value after the size adjustment, so the equity value from EV/EBIT is sensitive to errors in the debt figure.
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
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 2.0% (median 26.2%).
- 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 1.7% (median 9.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.0% 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 | 19 | weight 40% |
|---|---|---|
| Solidity | 8 | weight 20% |
| Liquidity | 61 | weight 5% |
| Growth | – | no data, left out |
| Consistency | 20 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Index version 3. Data completeness 75%: the share of the weights that had data.
Questions and answers
How profitable is AJ Shared Services AS?
The operating margin was 1.7% in 2025, against a median of 9.7% among companies in the Morning class Small in the same sector. Return on assets was 2.2%.
How solid is AJ Shared Services AS?
The equity ratio was 2.0% in 2025 (median 26.2%). Debt-to-equity was 48.80 (median 2.66).
What is the liquidity of AJ Shared Services AS like?
The current ratio was 1.43 in 2025 (median 1.29).
How does AJ Shared Services AS compare in Revisjon, regnskap og rådgivning?
AJ Shared Services AS ranks 3,231 of 3,401 in Revisjon, regnskap og rådgivning for 2025. Among companies in the Morning class Small it is number 908 of 942.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
Group structure · 2025
4 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.
Ernströmgruppen AB (foreign company) owns 100% of the shares in Armaturjonsson AS.
Armaturjonsson 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
- Handel (1 company), Industri (1 company), Revisjon, regnskap og rådgivning (1 company) 3 of 4 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
- 63 in all. Nordre Follo 44, Bergen 12, Drammen 7 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 1 company: Novatek AS
- Changed 2024–2025
- 1 company left.
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.
-
Armaturjonsson AS
- AJ Shared Services AS you are here
- Novatek AS
- Enira 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.
- 934466799
- Legal form
- AS · part of a group
- Sector
- Revisjon, regnskap og rådgivning (69.202)
- Morning company class
- Small
- Employees
- 5 registered 10 April 2026
- Founded
- 23 October 2024 2 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Berghagan 4B, 1405 LANGHUS (NORDRE FOLLO)
- Municipality
- Nordre Follo rank 1 of 10 in KOSTRA group 11
- 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
- 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: Armaturjonsson AS (100%)
Ultimate owner: Ernströmgruppen AB
- Armaturjonsson 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
Trends appear once there is more than one fiscal year.
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2025 |
|---|---|
| Operating revenue | 12.0 MNOK |
| Operating profit | 0.2 MNOK |
| Profit before tax | 0.2 MNOK |
| Tax expense | 0.0 MNOK |
| Net profit | 0.1 MNOK |
| Financial expenses | 0.0 MNOK |
| Total assets | 8.9 MNOK |
| Current assets | 2.7 MNOK |
| Equity | 0.2 MNOK |
| Retained earnings | 0.1 MNOK |
| Total liabilities | 8.7 MNOK |
| Current liabilities | 1.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 8 November 2026, accounts id 6470913.
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