Nammo AS
Score · fiscal year 2025
46of 100
How to read this: the company is ahead of 41 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 670 of 1,127 · What are Morning company classes?
Place in the whole sector: 1,722 of 2,930 · Industri
Profile
Beaver · Builder
Lower profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 31 and solidity 35 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Nammo AS is 5 points below the median for companies in the Morning class Medium in the same sector in 2025.
Median score 51 among 1,127 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −39.9% (median 4.7%) and equity ratio 31.8% (median 39.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 238 MNOK | 129 MNOK |
| Operating margin | −39.9% | 4.7% |
| Profit margin | 107.0% | 4.6% |
| Return on assets | 12.9% | 10.0% |
| Equity ratio | 31.8% | 39.3% |
| Debt-to-equity | 2.15 | 1.50 |
| Current ratio | 1.95 | 1.53 |
| Revenue growth | 12.1% | 6.3% |
| Revenue per employee | 4.17 MNOK | 2.68 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 46, Nammo AS does better than 41% of companies in the Morning class Medium in the same sector (1,127 companies) in 2025.
Score 2023–2025
- Nammo AS
- Median: companies in the Morning class Medium in the same sector
Nammo AS has a score of 46 for 2025, rank 1,722 of 2,930 in the sector.
Strongest: Liquidity: percentile 69 against peers, current ratio 1.95 against a median of 1.53. Growth: percentile 64 against peers, revenue growth 12.1% against a median of 6.3%.
Weakest: Profitability: percentile 31 against peers, operating margin −39.9% against a median of 4.7%. Solidity: percentile 35 against peers, equity ratio 31.8% against a median of 39.3%.
Worth a closer look
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −39.9% (median 4.7%).
- What lies behind weak profitability, and will it last?
- What lies behind weak solidity, 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
Nammo AS had an operating margin of −39.9% and an equity ratio of 31.8% in 2025, and ranks 1,722 of 2,930 in Industri.
From 2024 to 2025: the equity ratio rose from 23.1% to 31.8% and the operating margin fell from −37.0% to −39.9%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 1,576 MNOK and 2,105 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 2,105 MNOK |
| EV/EBIT | 8.0 | not meaningful |
| P/B | 1.0 | 1,576 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
- 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 −39.9% (median 4.7%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 11.4% 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 0.0%. 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 | 31 | weight 30% |
|---|---|---|
| Solidity | 35 | weight 25% |
| Liquidity | 69 | weight 15% |
| Growth | 64 | weight 15% |
| Consistency | 54 | weight 15% |
Durability: 42 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Nammo AS?
The operating margin was −39.9% in 2025, against a median of 4.7% among companies in the Morning class Medium in the same sector. Return on assets was 12.9%.
How solid is Nammo AS?
The equity ratio was 31.8% in 2025 (median 39.3%). Debt-to-equity was 2.15 (median 1.50).
What is the liquidity of Nammo AS like?
The current ratio was 1.95 in 2025 (median 1.53).
How does Nammo AS compare in Industri?
Nammo AS ranks 1,722 of 2,930 in Industri for 2025. Among companies in the Morning class Medium it is number 670 of 1,127. Revenue changed by 12.1% 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.
We do not show the group structure, because open data does not say who owns whom.
From the Central Coordinating Register
- Org. no.
- 979984731
- Legal form
- AS · part of a group
- Sector
- Industri (25.300)
- Morning company class
- Medium
- Employees
- 57 registered 10 October 2026
- Founded
- 10 July 1998 28 years in operation
- Share capital
- 100.00 MNOK
- Business address
- Enggata 37, 2830 RAUFOSS (VESTRE TOTEN)
- Municipality
- Vestre Toten rank 28–38 of 38 in KOSTRA group 7
- Latest accounts filed
- 2025
- Website
- www.nammo.com
- LEI
- 5493006X3NOVTJ09KM78 renews 3 October 2027
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.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 30 October 2026. The parent is the one the company itself reported to GLEIF.
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 2 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 29 | 51 | 46 | |
| Rank | 2,279 | 1,432 | 1,722 | |
| Operating margin | −23.8% | −37.0% | −39.9% | |
| Return on assets | 13.2% | 19.7% | 12.9% | |
| Equity ratio | 15.5% | 23.1% | 31.8% | |
| Current ratio | 1.90 | 3.45 | 1.95 | |
| Revenue growth | – | 24.7% | 12.1% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 169.9 MNOK | 211.8 MNOK | 237.6 MNOK |
| Operating profit | −40.5 MNOK | −78.5 MNOK | −94.8 MNOK |
| Profit before tax | 389.9 MNOK | 578.4 MNOK | 254.2 MNOK |
| Net profit | 340.2 MNOK | 504.1 MNOK | 210.5 MNOK |
| Financial expenses | 215.4 MNOK | 203.2 MNOK | 384.7 MNOK |
| Total assets | 4,576.4 MNOK | 3,965.9 MNOK | 4,959.4 MNOK |
| Current assets | 2,798.0 MNOK | 2,080.0 MNOK | 3,053.3 MNOK |
| Equity | 709.1 MNOK | 917.1 MNOK | 1,576.1 MNOK |
| Retained earnings | 350.4 MNOK | 558.5 MNOK | 1,217.4 MNOK |
| Total liabilities | 3,867.3 MNOK | 3,048.8 MNOK | 3,383.3 MNOK |
| Current liabilities | 1,471.1 MNOK | 603.0 MNOK | 1,564.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 2 November 2026, accounts id 7166777.
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