Dubliners AS
Score · fiscal year 2025
52of 100
How to read this: the company is ahead of 54 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 975 of 2,119 · What are Morning company classes?
Place in the whole sector: 2,726 of 5,998 · Overnatting og servering
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 93 and solidity 13 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Dubliners AS is 2 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 2,119 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 19.1% (median 5.0%) and equity ratio 1.5% (median 19.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 47 MNOK | 17 MNOK |
| Operating margin | 19.1% | 5.0% |
| Profit margin | 19.7% | 4.6% |
| Return on assets | 48.5% | 14.4% |
| Equity ratio | 1.5% | 19.3% |
| Debt-to-equity | 63.91 | 2.95 |
| Current ratio | 0.87 | 1.04 |
| Revenue growth | 5.1% | 5.7% |
| Revenue per employee | 1.11 MNOK | 0.73 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 52, Dubliners AS does better than 54% of companies in the Morning class Small in the same sector (2,119 companies) in 2025.
Score 2023–2025
- Dubliners AS
- Median: companies in the Morning class Small in the same sector
Dubliners AS has a score of 52 for 2025, rank 2,726 of 5,998 in the sector.
Strongest: Profitability: percentile 93 against peers, operating margin 19.1% against a median of 5.0%.
Weakest: Solidity: percentile 13 against peers, equity ratio 1.5% against a median of 19.3%. Liquidity: percentile 34 against peers, current ratio 0.87 against a median of 1.04.
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 1.5% (median 19.3%).
- Consider strengthening liquidity: current liabilities are 1.1 times current assets. Based on: current ratio 0.87 (median 1.04).
- What lies behind weak solidity, and will it last?
- The change in operating margin in 2025 was 0.9 percentage points better than for comparable companies: the company +1.0, 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 Dubliners AS rose by 1.0 percentage points. Comparable companies rose by a median 0.2 points. So the company did 0.9 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Dubliners AS moved the same way as comparable companies 1 times. About 11% 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 | 18.1% | 4.8% | +4.0 percentage points | +0.4 percentage points | +3.6 percentage points |
| 2025 | 19.1% | 5.0% | +1.0 percentage points | +0.2 percentage points | +0.9 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 Dubliners AS. The figures stand side by side; we claim no cause.
Service prices: accommodation and food (indeks (2021 = 100))
Service prices: accommodation and food rose 3.6% in 2025; the operating margin of Dubliners AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: accommodation and food, annual average | 100.0 | 107.9 | 114.0 | 118.8 | 123.1 | 126.9 (so far) |
| Change from the year before | – | +7.9% | +5.7% | +4.1% | +3.6% | +3.1% |
| The company's operating margin | – | – | 14.1% | 18.1% | 19.1% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: accommodation and food service (indeks (2021 = 100))
Turnover index: accommodation and food service rose 2.3% in 2025; the operating margin of Dubliners AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: accommodation and food service, annual average | 97.0 | 139.7 | 153.5 | 157.8 | 161.5 | 170.4 (so far) |
| Change from the year before | +23.4% | +44.1% | +9.9% | +2.8% | +2.3% | +5.5% |
| The company's operating margin | – | – | 14.1% | 18.1% | 19.1% | – |
Source: SSB (13863, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Dubliners AS rose 1.0 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 | – | – | 14.1% | 18.1% | 19.1% | – |
Source: SSB (14710, CC BY 4.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Dubliners AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 14.1% | 18.1% | 19.1% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Dubliners AS rose 1.0 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 | – | – | 14.1% | 18.1% | 19.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: food and beverage service (indeks)
Wage index: food and beverage service rose 6.5% in 2025; the operating margin of Dubliners AS rose 1.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: food and beverage service, annual average | 88.0 | 91.3 | 96.4 | 101.5 | 108.1 | 110.6 (so far) |
| Change from the year before | +3.5% | +3.8% | +5.6% | +5.4% | +6.5% | +2.3% |
| The company's operating margin | – | – | 14.1% | 18.1% | 19.1% | – |
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
Dubliners AS had an operating margin of 19.1% and an equity ratio of 1.5% in 2025, and ranks 2,726 of 5,998 in Overnatting og servering.
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 64 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.4 | 57 MNOK |
| EV/EBIT | 15.5 | 64 MNOK |
| P/B | 3.5 | 1 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 1.5% (median 19.3%).
- watch
Consider strengthening liquidity: current liabilities are 1.1 times current assets.
Based on: Current ratio 0.87 (median 1.04).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were −0.1% 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 1.3%. Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 93 | weight 30% |
|---|---|---|
| Solidity | 13 | weight 25% |
| Liquidity | 34 | weight 15% |
| Growth | 47 | weight 15% |
| Consistency | 58 | weight 15% |
Durability: 50 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Dubliners AS?
The operating margin was 19.1% in 2025, against a median of 5.0% among companies in the Morning class Small in the same sector. Return on assets was 48.5%.
How solid is Dubliners AS?
The equity ratio was 1.5% in 2025 (median 19.3%). Debt-to-equity was 63.91 (median 2.95).
What is the liquidity of Dubliners AS like?
The current ratio was 0.87 in 2025 (median 1.04). Current assets did not cover current liabilities.
How does Dubliners AS compare in Overnatting og servering?
Dubliners AS ranks 2,726 of 5,998 in Overnatting og servering for 2025. Among companies in the Morning class Small it is number 975 of 2,119. Revenue changed by 5.1% 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.
Group structure · 2025
29 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.
Nordic Hospitality Partners Interna (foreign company) owns 87% of the shares in Noho Norway AS.
Noho Norway 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
- Overnatting og servering (20 companies), Forretningsmessig tjenesteyting (2 companies), Kultur og fritid (1 company) 23 of 29 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
- 390 in all. Oslo 352, Trondheim 12, Stavanger 11, Tromsø 10, Kristiansand 5 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 1 company: Noho Norway AS
- Loss
- 9 companies: Youngs AS, Twrover AS, Ygt3 AS, Meo AS, M12 Vest AS, Lab Drift AS …
- Changed 2024–2025
- 4 companies 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.
-
Noho Norway AS
- Dubliners AS you are here
- Twrover AS
- Scene og Pubdrift AS
- Klingenberg Bardrift AS
- Øslo AS
- Countryfestivalen AS
- Nieu Soria Moria AS
- Tøyen Kulturhus AS
- Meo AS
- Eilefs Landhandleri AS
- Rådhuskroken AS
- Lab Drift AS
- Dod AS
- Christian August AS
- and 4 more companies
The tree shows up to 4 levels below the top. Large groups have more companies than shown.
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.
- 971125713
- Legal form
- AS · part of a group
- Sector
- Overnatting og servering (56.110)
- Morning company class
- Small
- Employees
- 42 registered 10 September 2026
- Founded
- 26 August 1994 32 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Rådhusgata 28, 0151 OSLO
- Municipality
- Oslo rank 63–220 of 357 in Norway
- 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 31 October 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: Noho Norway AS (100%)
Ultimate owner: NORDIC HOSPITALITY PARTNERS INTERNA
The owner: the majority owner Noho Norway AS (holds 100%) had negative equity in 2025. made a loss in 2025. A weak parent can affect the subsidiary through group contributions, loans and guarantees. It is an indication to watch, not an assessment of the company.
- Noho Norway AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 2 departed owners). The majority owner changed.
New owners (companies): Noho Norway AS
Departed (companies): Carpe Diem AS
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 4 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 46 | 53 | 52 | |
| Rank | 2,823 | 2,443 | 2,726 | |
| Operating margin | 14.1% | 18.1% | 19.1% | |
| Return on assets | 28.7% | 44.3% | 48.5% | |
| Equity ratio | 3.2% | 2.5% | 1.5% | |
| Current ratio | 0.90 | 0.87 | 0.87 | |
| Revenue growth | – | 10.5% | 5.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 40.1 MNOK | 44.3 MNOK | 46.5 MNOK |
| Operating profit | 5.7 MNOK | 8.0 MNOK | 8.9 MNOK |
| Profit before tax | 5.8 MNOK | 8.2 MNOK | 9.2 MNOK |
| Tax expense | 1.3 MNOK | 1.8 MNOK | 2.1 MNOK |
| Net profit | 4.5 MNOK | 6.4 MNOK | 7.1 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.0 MNOK |
| Total assets | 20.7 MNOK | 18.6 MNOK | 18.9 MNOK |
| Current assets | 17.6 MNOK | 15.5 MNOK | 16.2 MNOK |
| Equity | 0.7 MNOK | 0.5 MNOK | 0.3 MNOK |
| Retained earnings | 0.2 MNOK | 0.0 MNOK | – |
| Total liabilities | 20.0 MNOK | 18.2 MNOK | 18.6 MNOK |
| Current liabilities | 19.6 MNOK | 17.7 MNOK | 18.6 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 4 November 2026, accounts id 6920020.
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