Thypro 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
54of 100
How to read this: the company is ahead of 58 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 9,935 of 23,907 · What are Morning company classes?
Place in the whole sector: 12,502 of 30,137 · Eiendom
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 15 and resilience 87 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Thypro AS is 4 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 50 among 23,901 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −74.2% (median 47.7%) and equity ratio 99.0% (median 27.9%).
How it has gone · 2023–2025
Revenue fell by 20 % from 2023 to 2025, to 1.1 MNOK. The operating margin fell from −27.4% in 2023 to −74.2% in 2025. The equity ratio is about the same: 99.0% in 2025 against 98.9% in 2023.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Thypro AS has a score of 54 for 2025, rank 12,502 of 30,137 in the sector.
Strongest: Solidity: percentile 99 against peers, equity ratio 99.0% against a median of 27.9%. Liquidity: percentile 98 against peers, current ratio 77.18 against a median of 1.40.
Weakest: Profitability: percentile 15 against peers, operating margin −74.2% against a median of 47.7%.
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) −8.5 (median 1.8); financial costs as a share of debt 29.0% (median 5.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −74.2% (median 47.7%).
- Receivables equal far more days of revenue than at comparable companies. Do customers pay late, or are these loans to companies in the same group? Based on: receivable days 81 days (median 40 days).
- 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
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) −8.5 (median 1.8); Financial costs as a share of debt 29.0% (median 5.0%).
- 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 −74.2% (median 47.7%).
- watch
Receivables equal far more days of revenue than at comparable companies. Do customers pay late, or are these loans to companies in the same group?
Based on: Receivable days 81 days (median 40 days).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 29.0% 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 15.2%. 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 | 15 | weight 40% |
|---|---|---|
| Solidity | 99 | weight 20% |
| Liquidity | 98 | weight 5% |
| Growth | 69 | weight 25% |
| Consistency | 59 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 50 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 2 MNOK |
| Operating margin | −74.2% | 47.7% |
| Profit margin | 110.8% | 24.4% |
| Return on assets | 3.9% | 7.8% |
| Equity ratio | 99.0% | 27.9% |
| Debt-to-equity | 0.01 | 2.10 |
| Current ratio | 77.18 | 1.40 |
| Revenue growth | 8.3% | 3.3% |
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 54, Thypro AS does better than 58% of companies in the Morning class Micro in the same sector (23,907 companies) in 2025.
Score 2023–2025
- Thypro AS
- Median: companies in the Morning class Micro 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. |
81 days | 40 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. |
5,200 days | 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. |
1,416.8% | −12.4% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
37.4% | 54.9% | |
| 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. |
−8.5 | 1.8 | |
| 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. |
29.0% | 5.0% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 87.8% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): 16.0 MNOK.
Of the financial costs of 0.1 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro 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.
The industry or the company: what drove the result?
In 2025 the operating margin of Thypro AS rose by 9.5 percentage points. Comparable companies rose by a median 0.7 points. So the company did 8.8 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Thypro AS moved the same way as comparable companies 1 times. About 2% 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 | −83.7% | 46.9% | −56.3 percentage points | +0.9 percentage points | −57.2 percentage points |
| 2025 | −74.2% | 47.7% | +9.5 percentage points | +0.7 percentage points | +8.8 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 Thypro 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 Thypro AS rose 9.5 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 | – | – | −27.4% | −83.7% | −74.2% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Thypro AS rose 9.5 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 | – | – | −27.4% | −83.7% | −74.2% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
Construction cost index for dwellings rose 4.3% in 2025; the operating margin of Thypro AS rose 9.5 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 | – | – | −27.4% | −83.7% | −74.2% | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Thypro AS rose 9.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | −27.4% | −83.7% | −74.2% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
Wage index: real estate rose 5.2% in 2025; the operating margin of Thypro AS rose 9.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: real estate, annual average | 91.7 | 94.3 | 96.8 | 103.2 | 108.5 | 111.3 (so far) |
| Change from the year before | +5.2% | +2.9% | +2.6% | +6.5% | +5.2% | +2.6% |
| The company's operating margin | – | – | −27.4% | −83.7% | −74.2% | – |
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
Thypro AS had an operating margin of −74.2% and an equity ratio of 99.0% in 2025, and ranks 12,502 of 30,137 in Eiendom.
From 2024 to 2025: the operating margin rose from −83.7% to −74.2%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 8 MNOK and 15 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 8 MNOK |
| EV/EBIT | 19.2 | not meaningful |
| P/B | 0.7 | 15 MNOK |
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 (68.2): R.E.I.T..
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
Questions and answers
How profitable is Thypro AS?
The operating margin was −74.2% in 2025, against a median of 47.7% among companies in the Morning class Micro in the same sector. Return on assets was 3.9%.
How solid is Thypro AS?
The equity ratio was 99.0% in 2025 (median 27.9%). Debt-to-equity was 0.01 (median 2.10).
What is the liquidity of Thypro AS like?
The current ratio was 77.18 in 2025 (median 1.40).
How does Thypro AS compare in Eiendom?
Thypro AS ranks 12,502 of 30,137 in Eiendom for 2025. Among companies in the Morning class Micro it is number 9,935 of 23,907. Revenue changed by 8.3% 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 |
|---|---|---|---|---|
| Gudmestad Holding AS · same municipality |  Beaver |
1 MNOK | 54.5% | 45 |
| Iungo AS | Beaver |
1 MNOK | 50.9% | 29 |
| Holterkollveien 5 AS |  Elephant |
1 MNOK | −25.4% | 21 |
| S.H Eiendom AS |  Lion |
1 MNOK | 125.9% | 76 |
| Betesda Studentbolig AS |  Cheetah |
1 MNOK | 62.3% | 52 |
| Sarpsborg Eiendom AS | Beaver |
1 MNOK | 9.3% | 24 |
| Thypro AS (this company) | Elephant |
1 MNOK | −74.2% | 54 |
| Ceti Eiendom AS | Beaver |
1 MNOK | 41.5% | 44 |
| Target Eiendom AS | Elephant |
1 MNOK | 52.5% | 53 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
From the Central Coordinating Register
- Org. no.
- 964348863
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Eie og forvalte eiendom, tjenester som naturlig hører sammen med dette, investere i andre selskaper og virksomheter samt å utøve konsulenttjenester og forretningsførsel innen eiendom, økonomi og ledelse.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 1.1 MNOK (2025).
- Founded
- 30 December 1991 34 years in operation
- Share capital
- 0.03 MNOK
- Business address
- c/o P. Romnes, Furuveien 28, 0678 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- Latest accounts filed
- 2025
- VAT registered
- Yes
- Former names
- Trondheimsveien 12 AS until 2017
- LEI
- 549300UWSHCEKNCRKW76 renews 3 November 2026
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 7 November 2026. Only names are shown.
- Parent company
- No parent company: owned by persons
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
- 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
Change 2007–2025: no material change in the owners.
The portfolio: 16 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 45. 1 have negative equity and 4 made a loss in the latest year.
Holds shares in: Pci Biotech Holding ASA (0%), Thor Medical ASA (0%), Lytix Biopharma ASA (0%), Kitron ASA (0%), Hexagon Purus ASA (0%), Arcticzymes Technologies ASA (0%), Orkla ASA (0%), Aker Solutions ASA (0%)
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 | 57 | 39 | 54 | |
| Rank | 10,057 | 21,511 | 12,502 | |
| Operating margin | −27.4% | −83.7% | −74.2% | |
| Return on assets | 4.3% | 3.5% | 3.9% | |
| Equity ratio | 98.9% | 98.9% | 99.0% | |
| Current ratio | 67.88 | 64.53 | 77.18 | |
| Revenue growth | – | −26.3% | 8.3% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.4 MNOK | 1.0 MNOK | 1.1 MNOK |
| Operating profit | −0.4 MNOK | −0.9 MNOK | −0.8 MNOK |
| Profit before tax | 1.2 MNOK | 1.1 MNOK | 1.2 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | 1.2 MNOK | 1.1 MNOK | 1.2 MNOK |
| Financial expenses | 0.2 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 32.1 MNOK | 33.2 MNOK | 34.4 MNOK |
| Current assets | 23.5 MNOK | 24.6 MNOK | 26.1 MNOK |
| Equity | 31.7 MNOK | 32.8 MNOK | 34.1 MNOK |
| Retained earnings | 31.6 MNOK | 32.6 MNOK | 33.9 MNOK |
| Total liabilities | 0.3 MNOK | 0.4 MNOK | 0.3 MNOK |
| Current liabilities | 0.3 MNOK | 0.4 MNOK | 0.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 7021692.
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