Blue Cargo AS
Score · fiscal year 2025
31of 100
How to read this: the company is ahead of 16 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 486 of 581 · What are Morning company classes?
Place in the whole sector: 2,098 of 2,587 · Transport og lagring
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 26 and solidity 38 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Blue Cargo AS is 19 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 50 among 581 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin 1.1% (median 3.7%) and equity ratio 22.4% (median 29.0%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 82 MNOK | 98 MNOK |
| Operating margin | 1.1% | 3.7% |
| Profit margin | 0.9% | 3.5% |
| Return on assets | 4.9% | 9.8% |
| Equity ratio | 22.4% | 29.0% |
| Debt-to-equity | 3.46 | 2.35 |
| Current ratio | 0.79 | 1.31 |
| Revenue growth | 3.2% | 7.8% |
| Revenue per employee | 9.10 MNOK | 2.45 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 31, Blue Cargo AS does better than 16% of companies in the Morning class Medium in the same sector (581 companies) in 2025.
Score 2023–2025
- Blue Cargo AS
- Median: companies in the Morning class Medium in the same sector
Blue Cargo AS has a score of 31 for 2025, rank 2,098 of 2,587 in the sector.
Strongest: Consistency: percentile 45 against peers.
Weakest: Liquidity: percentile 11 against peers, current ratio 0.79 against a median of 1.31. Profitability: percentile 26 against peers, operating margin 1.1% against a median of 3.7%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 1.3 times current assets. Based on: current ratio 0.79 (median 1.31).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin 1.1% (median 3.7%).
- 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 Blue Cargo AS rose by 0.5 percentage points. Comparable companies rose by a median 0.2 points. So the company did 0.4 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Blue Cargo AS moved the same way as comparable companies 0 times. About 14% 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 | 0.5% | 3.5% | +0.9 percentage points | 0.0 percentage points | +1.0 percentage points |
| 2025 | 1.1% | 3.7% | +0.5 percentage points | +0.2 percentage points | +0.4 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 Blue Cargo AS. The figures stand side by side; we claim no cause.
Service prices: transport and storage (indeks (2021 = 100))
| Measure | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|
| Service prices: transport and storage, annual average | – | – | 114.6 | 119.3 (so far) |
| Change from the year before | – | – | – | +4.1% |
| The company's operating margin | −0.4% | 0.5% | 1.1% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: transport and storage (49–53, incl. shipping) (indeks (2021 = 100))
Turnover index: transport and storage (49–53, incl. shipping) rose 2.6% in 2025; the operating margin of Blue Cargo AS rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: transport and storage (49–53, incl. shipping), annual average | 99.6 | 124.2 | 125.0 | 128.8 | 132.2 | 137.4 (so far) |
| Change from the year before | −2.2% | +24.7% | +0.7% | +3.1% | +2.6% | +3.9% |
| The company's operating margin | – | – | −0.4% | 0.5% | 1.1% | – |
Source: SSB (13863, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Blue Cargo AS rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | −0.4% | 0.5% | 1.1% | – |
Source: SSB (08799, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Blue Cargo AS rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 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 | – | – | −0.4% | 0.5% | 1.1% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Blue Cargo AS rose 0.5 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 | – | – | −0.4% | 0.5% | 1.1% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: land transport (indeks)
Wage index: land transport rose 5.1% in 2025; the operating margin of Blue Cargo AS rose 0.5 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: land transport, annual average | 87.5 | 91.1 | 95.7 | 101.0 | 106.2 | 108.9 (so far) |
| Change from the year before | +3.3% | +4.1% | +5.1% | +5.5% | +5.1% | +2.5% |
| The company's operating margin | – | – | −0.4% | 0.5% | 1.1% | – |
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
Blue Cargo AS had an operating margin of 1.1% and an equity ratio of 22.4% in 2025, and ranks 2,098 of 2,587 in Transport og lagring.
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 4 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 15.1 | 1 MNOK |
| EV/EBIT | 16.7 | 4 MNOK |
| P/B | 1.8 | 4 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
- watch
Consider strengthening liquidity: current liabilities are 1.3 times current assets.
Based on: Current ratio 0.79 (median 1.31).
- 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 1.1% (median 3.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.2% 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 2.9%. Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 26 | weight 30% |
|---|---|---|
| Solidity | 38 | weight 25% |
| Liquidity | 11 | weight 15% |
| Growth | 36 | weight 15% |
| Consistency | 45 | weight 15% |
Durability: 26 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Blue Cargo AS?
The operating margin was 1.1% in 2025, against a median of 3.7% among companies in the Morning class Medium in the same sector. Return on assets was 4.9%.
How solid is Blue Cargo AS?
The equity ratio was 22.4% in 2025 (median 29.0%). Debt-to-equity was 3.46 (median 2.35).
What is the liquidity of Blue Cargo AS like?
The current ratio was 0.79 in 2025 (median 1.31). Current assets did not cover current liabilities.
How does Blue Cargo AS compare in Transport og lagring?
Blue Cargo AS ranks 2,098 of 2,587 in Transport og lagring for 2025. Among companies in the Morning class Medium it is number 486 of 581. Revenue changed by 3.2% from the year before.
From the Central Coordinating Register
- Org. no.
- 976273850
- Legal form
- AS
- Sector
- Transport og lagring (52.260)
- Morning company class
- Medium
- Employees
- 9 registered 10 May 2026
- Founded
- 20 March 1996 30 years in operation
- Share capital
- 3.85 MNOK
- Business address
- Rosenholmveien 20, 1252 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 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
- 100%
- Group chain
-
Owned by: Hatra Holding AS (100%)
Ultimate owner: Hatra Holding AS
- Hatra Holding AS · 100.0%
Change 2007–2025: no material change in the owners.
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 6 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 21 | 25 | 31 | |
| Rank | 2,112 | 2,191 | 2,098 | |
| Operating margin | −0.4% | 0.5% | 1.1% | |
| Return on assets | −1.3% | 2.0% | 4.9% | |
| Equity ratio | 19.2% | 18.5% | 22.4% | |
| Current ratio | 0.86 | 0.83 | 0.79 | |
| Revenue growth | – | 2.9% | 3.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 77.1 MNOK | 79.3 MNOK | 81.9 MNOK |
| Operating profit | −0.3 MNOK | 0.4 MNOK | 0.9 MNOK |
| Profit before tax | −0.3 MNOK | 0.3 MNOK | 0.7 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.2 MNOK |
| Net profit | −0.3 MNOK | 0.3 MNOK | 0.6 MNOK |
| Financial expenses | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Total assets | 19.5 MNOK | 21.8 MNOK | 18.4 MNOK |
| Current assets | 10.6 MNOK | 12.5 MNOK | 11.2 MNOK |
| Equity | 3.7 MNOK | 4.0 MNOK | 4.1 MNOK |
| Retained earnings | −0.1 MNOK | 0.2 MNOK | 0.3 MNOK |
| Total liabilities | 15.7 MNOK | 17.8 MNOK | 14.3 MNOK |
| Current liabilities | 12.2 MNOK | 15.0 MNOK | 14.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 6988622.
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