Hesnes Shipping AS
Score · fiscal year 2025
43of 100
How to read this: the company is ahead of 35 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 378 of 581 · What are Morning company classes?
Place in the whole sector: 1,654 of 2,587 · Transport og lagring
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 97 and solidity 15 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Hesnes Shipping AS is 7 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 581 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 34.4% (median 3.7%) and equity ratio 9.2% (median 29.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 61 MNOK | 98 MNOK |
| Operating margin | 34.4% | 3.7% |
| Profit margin | 33.7% | 3.5% |
| Return on assets | 52.5% | 9.8% |
| Equity ratio | 9.2% | 29.0% |
| Debt-to-equity | 9.86 | 2.35 |
| Current ratio | 1.09 | 1.31 |
| Revenue growth | −48.9% | 7.8% |
| Revenue per employee | 5.05 MNOK | 2.45 MNOK |
The median and “ahead of” refer to companies in the Morning class Medium in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 43, Hesnes Shipping AS does better than 35% of companies in the Morning class Medium in the same sector (581 companies) in 2025.
Score 2023–2025
- Hesnes Shipping AS
- Median: companies in the Morning class Medium in the same sector
Hesnes Shipping AS has a score of 43 for 2025, rank 1,654 of 2,587 in the sector.
Strongest: Profitability: percentile 97 against peers, operating margin 34.4% against a median of 3.7%.
Weakest: Growth: percentile 0 against peers, revenue growth −48.9% against a median of 7.8%. Solidity: percentile 15 against peers, equity ratio 9.2% against a median of 29.0%.
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 9.2% (median 29.0%).
- What lies behind weak growth, and will it last?
- What lies behind weak solidity, and will it last?
- The change in operating margin in 2025 was 18.3 percentage points weaker than for comparable companies: the company −18.2, the industry +0.2 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 Hesnes Shipping AS fell by 18.2 percentage points. Comparable companies rose by a median 0.2 points. So the company did 18.3 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Hesnes Shipping AS moved the same way as comparable companies 0 times. About 1% 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 | 52.6% | 3.5% | −0.6 percentage points | 0.0 percentage points | −0.5 percentage points |
| 2025 | 34.4% | 3.7% | −18.2 percentage points | +0.2 percentage points | −18.3 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 Hesnes Shipping AS. The figures stand side by side; we claim no cause.
Turnover index: transport and storage (49–53, incl. shipping) (indeks (2021 = 100))
Turnover index: transport and storage (49–53, incl. shipping) rose 2.6% in 2025; the operating margin of Hesnes Shipping AS fell 18.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: transport and storage (49–53, incl. shipping), annual average | 99.6 | 124.2 | 125.0 | 128.8 | 132.2 | 137.4 (so far) |
| Change from the year before | −2.2% | +24.7% | +0.7% | +3.1% | +2.6% | +3.9% |
| The company's operating margin | – | – | 53.1% | 52.6% | 34.4% | – |
Source: SSB (13863, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Hesnes Shipping AS fell 18.2 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | 53.1% | 52.6% | 34.4% | – |
Source: SSB (08799, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Hesnes Shipping AS fell 18.2 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 | – | – | 53.1% | 52.6% | 34.4% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Hesnes Shipping AS fell 18.2 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 | – | – | 53.1% | 52.6% | 34.4% | – |
Source: Norges Bank (IR, NLOD 2.0). 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
Hesnes Shipping AS had an operating margin of 34.4% and an equity ratio of 9.2% in 2025, and ranks 1,654 of 2,587 in Transport og lagring.
From 2024 to 2025: the operating margin fell from 52.6% to 34.4% and revenue fell by 49%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 4 MNOK and 377 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 15.1 | 242 MNOK |
| EV/EBIT | 16.7 | 377 MNOK |
| P/B | 1.8 | 4 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 46% for an unlisted company: 20% for lack of marketability and 32% for size (a small-company premium of 3% on the cost of equity).
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 9.2% (median 29.0%).
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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 2.9%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 97 | weight 30% |
|---|---|---|
| Solidity | 15 | weight 25% |
| Liquidity | 31 | weight 15% |
| Growth | 0 | weight 15% |
| Consistency | 36 | weight 15% |
Durability: 48 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Hesnes Shipping AS?
The operating margin was 34.4% in 2025, against a median of 3.7% among companies in the Morning class Medium in the same sector. Return on assets was 52.5%.
How solid is Hesnes Shipping AS?
The equity ratio was 9.2% in 2025 (median 29.0%). Debt-to-equity was 9.86 (median 2.35).
What is the liquidity of Hesnes Shipping AS like?
The current ratio was 1.09 in 2025 (median 1.31).
How does Hesnes Shipping AS compare in Transport og lagring?
Hesnes Shipping AS ranks 1,654 of 2,587 in Transport og lagring for 2025. Among companies in the Morning class Medium it is number 378 of 581. Revenue changed by −48.9% from the year before.
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.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 942165951
- Legal form
- AS · part of a group
- Sector
- Transport og lagring (52.311)
- Morning company class
- Medium
- Employees
- 12 registered 10 February 2026
- Founded
- 27 November 1986 39 years in operation
- Share capital
- 1.06 MNOK
- Business address
- Nedre Langgate 32, 3126 TØNSBERG
- Municipality
- Tønsberg rank 2 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- LEI
- 549300K0VJ6ICA7VKH69 renews 4 April 2027
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.
- Parent company
- Hesnes Holding AS (Norway)
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 10
- Largest owner
- 15.0% · top three 16.1%
- Split
- companies 17% · private persons 0% · foreign 0%
- Hesnes Holding AS · 90.0%
- Marsales AS · 3.9%
- Sea-Invest AS · 2.6%
- Noenlunde AS · 1.6%
- Kinber AS · 0.4%
- C-Compass AS · 0.2%
- Layline AS · 0.2%
- Zero Hero AS · 0.2%
- 2 private persons · 0.1%
Change 2007–2025:
5% of the shares changed owner (6 new and 5 departed owners).
New owners (companies): C-Compass AS, Kinber AS, Layline AS, Noenlunde AS, Zero Hero AS
Departed (companies): AS CHRIFRO, Flinders AS
Holds shares in: Rød Golf AS (1%)
The owners' shares do not add up to the company's total number of shares in the source.
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 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 45 | 55 | 43 | |
| Rank | 1,365 | 1,032 | 1,654 | |
| Operating margin | 53.1% | 52.6% | 34.4% | |
| Return on assets | 71.1% | 65.2% | 52.5% | |
| Equity ratio | 5.5% | 3.8% | 9.2% | |
| Current ratio | 1.06 | 1.03 | 1.09 | |
| Revenue growth | – | 76.3% | −48.9% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 67.3 MNOK | 118.6 MNOK | 60.6 MNOK |
| Operating profit | 35.8 MNOK | 62.4 MNOK | 20.8 MNOK |
| Profit before tax | 33.0 MNOK | 61.0 MNOK | 20.4 MNOK |
| Tax expense | 7.5 MNOK | 13.8 MNOK | 4.7 MNOK |
| Net profit | 25.5 MNOK | 47.2 MNOK | 15.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 46.4 MNOK | 93.6 MNOK | 38.9 MNOK |
| Current assets | 46.2 MNOK | 93.1 MNOK | 38.5 MNOK |
| Equity | 2.5 MNOK | 3.6 MNOK | 3.6 MNOK |
| Retained earnings | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total liabilities | 43.8 MNOK | 90.0 MNOK | 35.3 MNOK |
| Current liabilities | 43.8 MNOK | 90.0 MNOK | 35.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 7081765.
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