Husly AS
Score · fiscal year 2025
27of 100
How to read this: the company is ahead of 9 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 5,347 of 5,894 · What are Morning company classes?
Place in the whole sector: 7,313 of 7,993 · Eiendom
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 13 and solidity 16 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Husly AS is 22 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 5,893 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 4.3% (median 46.4%) and equity ratio 5.8% (median 26.6%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 6 MNOK | 3 MNOK |
| Operating margin | 4.3% | 46.4% |
| Profit margin | −6.5% | 22.1% |
| Return on assets | −2.0% | 7.7% |
| Equity ratio | 5.8% | 26.6% |
| Debt-to-equity | 16.31 | 2.21 |
| Current ratio | 0.11 | 1.38 |
| Revenue growth | 38.7% | 3.1% |
| Revenue per employee | 0.87 MNOK | 0.53 MNOK |
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 27, Husly AS does better than 9% of companies in the Morning class Micro in the same sector (5,894 companies) in 2025.
Score 2023–2025
- Husly AS
- Median: companies in the Morning class Micro in the same sector
Husly AS has a score of 27 for 2025, rank 7,313 of 7,993 in the sector.
Strongest: Growth: percentile 85 against peers, revenue growth 38.7% against a median of 3.1%.
Weakest: Liquidity: percentile 10 against peers, current ratio 0.11 against a median of 1.38. Profitability: percentile 13 against peers, operating margin 4.3% against a median of 46.4%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 8.9 times current assets. Based on: current ratio 0.11 (median 1.38).
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 5.8% (median 26.6%).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −6.5% (median 22.1%).
- 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
The industry or the company: what drove the result?
In 2025 the operating margin of Husly AS fell by 13.7 percentage points. Comparable companies rose by a median 1.2 points. So the company did 14.9 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Husly AS moved the same way as comparable companies 0 times. About 6% 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 | 18.0% | 45.2% | −6.2 percentage points | +0.1 percentage points | −6.2 percentage points |
| 2025 | 4.3% | 46.4% | −13.7 percentage points | +1.2 percentage points | −14.9 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 Husly 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 Husly AS fell 13.7 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 | – | – | 24.2% | 18.0% | 4.3% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Husly AS fell 13.7 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 | – | – | 24.2% | 18.0% | 4.3% | – |
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 Husly AS fell 13.7 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 | – | – | 24.2% | 18.0% | 4.3% | – |
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 Husly AS fell 13.7 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 | – | – | 24.2% | 18.0% | 4.3% | – |
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 Husly AS fell 13.7 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 | – | – | 24.2% | 18.0% | 4.3% | – |
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
Husly AS had an operating margin of 4.3% and an equity ratio of 5.8% in 2025, and ranks 7,313 of 7,993 in Eiendom.
From 2024 to 2025: the operating margin fell from 18.0% to 4.3% and revenue grew by 39%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1 MNOK and 7 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.6 | not meaningful |
| EV/EBIT | 22.6 | 7 MNOK |
| P/B | 0.9 | 1 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% 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
- critical
Consider strengthening liquidity: current liabilities are 8.9 times current assets.
Based on: Current ratio 0.11 (median 1.38).
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 5.8% (median 26.6%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −6.5% (median 22.1%).
- 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 4.3% (median 46.4%).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 38.7% (median 3.1%); Current ratio 0.11 (median 1.38).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
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 22.6%. 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 | 13 | weight 30% |
|---|---|---|
| Solidity | 16 | weight 25% |
| Liquidity | 10 | weight 15% |
| Growth | 85 | weight 15% |
| Consistency | 35 | weight 15% |
Durability: 28 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Husly AS?
The operating margin was 4.3% in 2025, against a median of 46.4% among companies in the Morning class Micro in the same sector. Return on assets was −2.0%. The company made a loss before tax.
How solid is Husly AS?
The equity ratio was 5.8% in 2025 (median 26.6%). Debt-to-equity was 16.31 (median 2.21).
What is the liquidity of Husly AS like?
The current ratio was 0.11 in 2025 (median 1.38). Current assets did not cover current liabilities.
How does Husly AS compare in Eiendom?
Husly AS ranks 7,313 of 7,993 in Eiendom for 2025. Among companies in the Morning class Micro it is number 5,347 of 5,894. Revenue changed by 38.7% from the year before.
Group structure · 2025
2 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.
No owner holds more than half of the shares in Borg-Invest AS.
Borg-Invest 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
- Eiendom (1 company) 1 of 2 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
- 7 in all. Sande 7 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 1 company: Husly AS
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.
-
Borg-Invest AS
- Husly AS you are here
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.
- 974536129
- Legal form
- AS
- Sector
- Eiendom (68.320)
- Morning company class
- Micro
- Employees
- 7 registered 10 April 2026
- Founded
- 29 April 1995 31 years in operation
- Share capital
- 0.10 MNOK
- Business address
- Sentrum, 6084 LARSNES (SANDE)
- Municipality
- Sande rank 13–28 of 39 in KOSTRA group 4
- Audit
- Audit opted out from 8 December 2011
- 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 1 November 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
- 0%
- Group chain
-
Owned by: Borg-Invest AS (100%)
Ultimate owner: Borg-Invest AS
- Borg-Invest AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 4 departed owners). The majority owner changed.
New owners (companies): Borg-Invest 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 7 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 25 | 31 | 27 | |
| Rank | 6,765 | 6,687 | 7,313 | |
| Operating margin | 24.2% | 18.0% | 4.3% | |
| Return on assets | 3.4% | 3.5% | −2.0% | |
| Equity ratio | 7.5% | 6.6% | 5.8% | |
| Current ratio | 0.03 | 0.04 | 0.11 | |
| Revenue growth | – | 57.0% | 38.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 2.8 MNOK | 4.4 MNOK | 6.1 MNOK |
| Operating profit | 0.7 MNOK | 0.8 MNOK | 0.3 MNOK |
| Profit before tax | 0.0 MNOK | 0.0 MNOK | −0.4 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | −0.1 MNOK |
| Net profit | 0.0 MNOK | 0.0 MNOK | −0.3 MNOK |
| Financial expenses | 0.6 MNOK | 0.8 MNOK | – |
| Total assets | 19.5 MNOK | 22.6 MNOK | 19.9 MNOK |
| Current assets | 0.2 MNOK | 0.3 MNOK | 1.0 MNOK |
| Equity | 1.5 MNOK | 1.5 MNOK | 1.2 MNOK |
| Retained earnings | 1.4 MNOK | 1.4 MNOK | 1.1 MNOK |
| Total liabilities | 18.1 MNOK | 21.1 MNOK | 18.8 MNOK |
| Current liabilities | 7.1 MNOK | 8.7 MNOK | 9.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 7 November 2026, accounts id 6972626.
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