KELVIN AS
Score · fiscal year 2023
50of 100
How to read this: the company is ahead of 52 % of medium-sized companies in the same sector in 2023. What does this mean?
Rank: 17,108 of 34,740 · Handel
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2023, not a verdict on the company. Based on profitability 59 and solidity 39 out of 100 among medium-sized companies in the same sector in 2023. Methodology
Against the sector
KELVIN AS is 1 points above the median for medium-sized companies in the same sector in 2023.
Median score 49 among 1,875 companies.
Against medium-sized companies in the same sector in 2023: operating margin 3.8% (median 3.2%) and equity ratio 26.0% (median 32.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 329 MNOK | 177 MNOK |
| Operating margin | 3.8% | 3.2% |
| Profit margin | 3.8% | 3.1% |
| Return on assets | 15.1% | 11.4% |
| Equity ratio | 26.0% | 32.2% |
| Debt-to-equity | 2.84 | 2.06 |
| Current ratio | 1.34 | 1.39 |
| Revenue growth | – | 4.2% |
| Revenue per employee | 12.19 MNOK | 6.27 MNOK |
The median and “ahead of” refer to medium-sized companies in the same sector in 2023. The bar shows the share of companies the figure is ahead of.
With an index of 50, KELVIN AS does better than 52% of medium-sized companies in the same sector (1,875 companies) in 2023.
Score 2023–2025
- KELVIN AS
- Median: medium-sized companies in the same sector
What the numbers say
KELVIN AS had an operating margin of 3.8% and an equity ratio of 26.0% in 2023, and ranks 17,108 of 34,740 in Handel.
This text is generated automatically from the 2023 accounts.
Three simple methods
The methods give between 22 MNOK and 125 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 96 MNOK |
| EV/EBIT | 8.0 | 125 MNOK |
| P/B | 1.0 | 22 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
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.2% of the debt in 2023. The policy rate averaged 3.54 % the same year. This is a plain description of what the debt cost, not a model of interest sensitivity.
Data quality
No anomalies found in the figures.
Scenario analysis: the sector's weakest year
We have no accounts for 2017, the sector's weakest year, for this company.
The sector's weakest year was 2017, with a median operating margin of −65.6%. 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 | 59 | weight 30% |
|---|---|---|
| Solidity | 39 | weight 25% |
| Liquidity | 47 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 54 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is KELVIN AS?
The operating margin was 3.8% in 2023, against a median of 3.2% among medium-sized companies in the same sector. Return on assets was 15.1%.
How solid is KELVIN AS?
The equity ratio was 26.0% in 2023 (median 32.2%). Debt-to-equity was 2.84 (median 2.06).
What is the liquidity of KELVIN AS like?
The current ratio was 1.34 in 2023 (median 1.39).
How does KELVIN AS compare in Handel?
KELVIN AS ranks 17,108 of 34,740 in Handel for 2023. Among companies of the same size (medium-sized companies) it ranks 906 of 1,875.
Public contracts
- Contracts awarded since 2024
- 0
- Total awarded value since 2024
- value not stated
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 2 June 2017 | Røyken Eiendom AS | CO2 varmepumper til Frydenlund skole | value not stated |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 966777001
- Legal form
- AS
- Sector
- Handel (46.640)
- Size tier
- medium
- Employees
- 27 registered 10 September 2026
- Founded
- 4 June 1993 33 years in operation
- Share capital
- 2.00 MNOK
- Business address
- Malmskriverveien 35, 1337 SANDVIKA (BÆRUM)
- Municipality
- Bærum rank 1–5 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.kelvinas.no
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
- Trond Paulsen
- Chair of the board
- Jørgen Skrikestad
- Board member
- Karl Magnus Niklas Rindhagen
- Board member
- Kristin Brown
- Auditor
- BHL AS
Source: Central Coordinating Register, fetched 25 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 | 50 | 41 | 58 | |
| Rank | 17,108 | 24,939 | 12,618 | |
| Operating margin | 3.8% | 2.6% | 3.8% | |
| Return on assets | 15.1% | 9.5% | 17.0% | |
| Equity ratio | 26.0% | 24.7% | 28.6% | |
| Current ratio | 1.34 | 1.31 | 1.38 | |
| Revenue growth | – | 0.1% | 22.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 329.3 MNOK | 329.7 MNOK | 402.8 MNOK |
| Operating profit | 12.4 MNOK | 8.6 MNOK | 15.3 MNOK |
| Profit before tax | 12.4 MNOK | 9.0 MNOK | 16.3 MNOK |
| Net profit | 9.6 MNOK | 7.0 MNOK | 12.7 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.0 MNOK |
| Total assets | 82.8 MNOK | 95.6 MNOK | 96.0 MNOK |
| Current assets | 81.8 MNOK | 94.2 MNOK | 94.9 MNOK |
| Equity | 21.5 MNOK | 23.7 MNOK | 27.5 MNOK |
| Retained earnings | 19.5 MNOK | 21.7 MNOK | 25.5 MNOK |
| Total liabilities | 61.2 MNOK | 72.0 MNOK | 68.6 MNOK |
| Current liabilities | 61.2 MNOK | 72.0 MNOK | 68.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 4611733.
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