SILVER SEED AS
Score · fiscal year 2025
68of 100
How to read this: the company is ahead of 85 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 73 of 491 · What are Morning company classes?
Place in the whole sector: 317 of 2,232 · Sjømat
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 48 and solidity 86 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
SILVER SEED AS is 19 points above the median for companies in the Morning class Medium in the same sector in 2025.
Median score 49 among 491 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 22.5% (median 13.4%) and equity ratio 67.5% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 81 MNOK | 119 MNOK |
| Operating margin | 22.5% | 13.4% |
| Profit margin | 14.3% | 8.2% |
| Return on assets | 4.7% | 9.2% |
| Equity ratio | 67.5% | 33.1% |
| Debt-to-equity | 0.48 | 1.99 |
| Current ratio | 6.59 | 1.68 |
| Revenue growth | 51.2% | 10.6% |
| Revenue per employee | 6.71 MNOK | 5.21 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 68, SILVER SEED AS does better than 85% of companies in the Morning class Medium in the same sector (491 companies) in 2025.
Score 2023–2025
- SILVER SEED AS
- Median: companies in the Morning class Medium in the same sector
SILVER SEED AS has a score of 68 for 2025, rank 317 of 2,232 in the sector.
Strongest: Liquidity: percentile 95 against peers, current ratio 6.59 against a median of 1.68. Solidity: percentile 86 against peers, equity ratio 67.5% against a median of 33.1%.
Weakest: Consistency: percentile 37 against peers.
Worth a closer look
- What lies behind weak consistency, 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
SILVER SEED AS had an operating margin of 22.5% and an equity ratio of 67.5% in 2025, and ranks 317 of 2,232 in Sjømat.
From 2024 to 2025: the operating margin rose from −12.9% to 22.5% and went from a loss to a profit before tax.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 40 MNOK and 293 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 90 MNOK |
| EV/EBIT | 8.0 | 40 MNOK |
| P/B | 1.0 | 293 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 6.3% 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 −0.5%. 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 | 48 | weight 30% |
|---|---|---|
| Solidity | 86 | weight 25% |
| Liquidity | 95 | weight 15% |
| Growth | 83 | weight 15% |
| Consistency | 37 | weight 15% |
Durability: 58 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is SILVER SEED AS?
The operating margin was 22.5% in 2025, against a median of 13.4% among companies in the Morning class Medium in the same sector. Return on assets was 4.7%.
How solid is SILVER SEED AS?
The equity ratio was 67.5% in 2025 (median 33.1%). Debt-to-equity was 0.48 (median 1.99).
What is the liquidity of SILVER SEED AS like?
The current ratio was 6.59 in 2025 (median 1.68).
How does SILVER SEED AS compare in Sjømat?
SILVER SEED AS ranks 317 of 2,232 in Sjømat for 2025. Among companies in the Morning class Medium it is number 73 of 491. Revenue changed by 51.2% from the year before.
From the Central Coordinating Register
- Org. no.
- 971129735
- Legal form
- AS
- Sector
- Sjømat (03.222)
- Morning company class
- Medium
- Employees
- 12 registered 10 August 2026
- Founded
- 30 August 1994 32 years in operation
- Share capital
- 25.20 MNOK
- Business address
- Været, 8320 SKROVA (VÅGAN)
- Municipality
- Vågan rank 6–16 of 18 in KOSTRA group 2
- 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
- Line Ellingsen
- Chair of the board
- Ulf Ellingsen
- Board member
- Ulf Christian Ellingsen
- Board member
- Liv Grete Kristoffersen Ellingsen
- Board member
- Aino Helene Ellingsen
- Board member
- Tarald Sivertsen
- Deputy member
- Andreas Ellingsen
- Auditor
- REVICOM 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 | 63 | 43 | 68 | |
| Rank | 565 | 1,277 | 317 | |
| Operating margin | 34.5% | −12.9% | 22.5% | |
| Return on assets | 5.1% | −0.6% | 4.7% | |
| Equity ratio | 51.0% | 53.0% | 67.5% | |
| Current ratio | 18.08 | 21.15 | 6.59 | |
| Revenue growth | – | −34.1% | 51.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 80.9 MNOK | 53.3 MNOK | 80.5 MNOK |
| Operating profit | 27.9 MNOK | −6.9 MNOK | 18.1 MNOK |
| Profit before tax | 14.7 MNOK | −17.1 MNOK | 11.5 MNOK |
| Net profit | 11.4 MNOK | −13.2 MNOK | 9.0 MNOK |
| Financial expenses | 13.4 MNOK | 13.8 MNOK | 8.9 MNOK |
| Total assets | 550.2 MNOK | 536.6 MNOK | 434.3 MNOK |
| Current assets | 171.7 MNOK | 171.0 MNOK | 76.0 MNOK |
| Equity | 280.7 MNOK | 284.4 MNOK | 293.4 MNOK |
| Retained earnings | 11.4 MNOK | – | 9.0 MNOK |
| Total liabilities | 269.5 MNOK | 252.2 MNOK | 141.0 MNOK |
| Current liabilities | 9.5 MNOK | 8.1 MNOK | 11.5 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 28 October 2026, accounts id 6745624.
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