HORJEN AS
Score · fiscal year 2025
54of 100
How to read this: the company is ahead of 57 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 3,167 of 7,421 · What are Morning company classes?
Place in the whole sector: 9,720 of 23,059 · Handel
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 24 and solidity 82 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
HORJEN AS is 3 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 7,421 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 0.1% (median 3.4%) and equity ratio 66.5% (median 36.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 27 MNOK | 20 MNOK |
| Operating margin | 0.1% | 3.4% |
| Profit margin | 0.5% | 3.0% |
| Return on assets | 1.4% | 10.0% |
| Equity ratio | 66.5% | 36.3% |
| Debt-to-equity | 0.50 | 1.52 |
| Current ratio | 2.68 | 1.73 |
| Revenue growth | −0.4% | 5.7% |
| Revenue per employee | 1.93 MNOK | 2.08 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 54, HORJEN AS does better than 57% of companies in the Morning class Small in the same sector (7,421 companies) in 2025.
Score 2023–2025
- HORJEN AS
- Median: companies in the Morning class Small in the same sector
HORJEN AS has a score of 54 for 2025, rank 9,720 of 23,059 in the sector.
Strongest: Solidity: percentile 82 against peers, equity ratio 66.5% against a median of 36.3%. Liquidity: percentile 74 against peers, current ratio 2.68 against a median of 1.73.
Weakest: Profitability: percentile 24 against peers, operating margin 0.1% against a median of 3.4%. Growth: percentile 31 against peers, revenue growth −0.4% against a median of 5.7%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin 0.1% (median 3.4%).
- What lies behind weak profitability, and will it last?
- What lies behind weak growth, 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
What the numbers say
HORJEN AS had an operating margin of 0.1% and an equity ratio of 66.5% in 2025, and ranks 9,720 of 23,059 in Handel.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 9 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 1 MNOK |
| EV/EBIT | 8.0 | 5 MNOK |
| P/B | 1.0 | 9 MNOK |
A mechanical estimate from public accounts, not advice. Mechanical estimate from public accounts with fixed multiples. Not a valuation and not advice to buy or sell. The multiples are provisional default values and must be adjusted per sector before the figures are used for anything. See the calculation
Worth a closer look
- 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 0.1% (median 3.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.0% 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 1.5%. Based on the 11 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 24 | weight 30% |
|---|---|---|
| Solidity | 82 | weight 25% |
| Liquidity | 74 | weight 15% |
| Growth | 31 | weight 15% |
| Consistency | 71 | weight 15% |
Durability: 60 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is HORJEN AS?
The operating margin was 0.1% in 2025, against a median of 3.4% among companies in the Morning class Small in the same sector. Return on assets was 1.4%.
How solid is HORJEN AS?
The equity ratio was 66.5% in 2025 (median 36.3%). Debt-to-equity was 0.50 (median 1.52).
What is the liquidity of HORJEN AS like?
The current ratio was 2.68 in 2025 (median 1.73).
How does HORJEN AS compare in Handel?
HORJEN AS ranks 9,720 of 23,059 in Handel for 2025. Among companies in the Morning class Small it is number 3,167 of 7,421. Revenue changed by −0.4% 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.
- 957708765
- Legal form
- AS · part of a group
- Sector
- Handel (47.610)
- Morning company class
- Small
- Employees
- 14 registered 10 April 2026
- Founded
- 14 June 1990 36 years in operation
- Share capital
- 0.20 MNOK
- Business address
- Kirkegaten 6, 4400 FLEKKEFJORD
- Municipality
- Flekkefjord rank 13–26 of 39 in KOSTRA group 4
- 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
- Chief executive
- Else Lill Trydal Horjen
- Chair of the board
- Jan Helge Horjen
- Board member
- Ester Eigeland
- Board member
- Else Lill Trydal Horjen
- Board member
- Marion Eigeland Svege
- Auditor
- JOHANSEN REVISJON AS
Source: Central Coordinating Register, fetched 29 October 2026. Only names are shown.
Owners and shareholdings will appear here once the shareholder data extract is in place.
Coming · not built yet
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 28 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 67 | 59 | 54 | |
| Rank | 5,172 | 7,488 | 9,720 | |
| Operating margin | 1.4% | 0.1% | 0.1% | |
| Return on assets | 3.3% | 1.2% | 1.4% | |
| Equity ratio | 68.6% | 71.4% | 66.5% | |
| Current ratio | 2.99 | 3.15 | 2.68 | |
| Revenue growth | – | 0.6% | −0.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 27.0 MNOK | 27.2 MNOK | 27.1 MNOK |
| Operating profit | 0.4 MNOK | 0.0 MNOK | 0.0 MNOK |
| Profit before tax | 0.4 MNOK | 0.1 MNOK | 0.1 MNOK |
| Net profit | 0.3 MNOK | 0.1 MNOK | 0.1 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 12.8 MNOK | 12.4 MNOK | 13.5 MNOK |
| Current assets | 12.1 MNOK | 11.2 MNOK | 12.2 MNOK |
| Equity | 8.8 MNOK | 8.9 MNOK | 9.0 MNOK |
| Retained earnings | 8.6 MNOK | 8.7 MNOK | 8.8 MNOK |
| Total liabilities | 4.0 MNOK | 3.6 MNOK | 4.5 MNOK |
| Current liabilities | 4.0 MNOK | 3.6 MNOK | 4.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6978162.
Further
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