Narvikgården AS
Score · fiscal year 2025
48of 100
How to read this: the company is ahead of 45 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 917 of 1,673 · What are Morning company classes?
Place in the whole sector: 4,291 of 7,993 · Eiendom
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 12 and solidity 85 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Narvikgården AS is 2 points below the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 1,673 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin −25.2% (median 21.6%) and equity ratio 70.0% (median 28.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 16 MNOK | 18 MNOK |
| Operating margin | −25.2% | 21.6% |
| Profit margin | 14.6% | 14.1% |
| Return on assets | 2.3% | 8.2% |
| Equity ratio | 70.0% | 28.1% |
| Debt-to-equity | 0.43 | 2.32 |
| Current ratio | 9.99 | 1.29 |
| Revenue growth | −30.8% | 4.5% |
| Revenue per employee | 1.78 MNOK | 1.96 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 48, Narvikgården AS does better than 45% of companies in the Morning class Small in the same sector (1,673 companies) in 2025.
Score 2023–2025
- Narvikgården AS
- Median: companies in the Morning class Small in the same sector
Narvikgården AS has a score of 48 for 2025, rank 4,291 of 7,993 in the sector.
Strongest: Liquidity: percentile 92 against peers, current ratio 9.99 against a median of 1.29. Solidity: percentile 85 against peers, equity ratio 70.0% against a median of 28.1%.
Weakest: Growth: percentile 6 against peers, revenue growth −30.8% against a median of 4.5%. Profitability: percentile 12 against peers, operating margin −25.2% against a median of 21.6%.
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 −25.2% (median 21.6%).
- What lies behind weak growth, and will it last?
- What lies behind weak profitability, and will it last?
- The change in operating margin in 2025 was 34.0 percentage points weaker than for comparable companies: the company −32.4, the industry +1.5 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 Narvikgården AS fell by 32.4 percentage points. Comparable companies rose by a median 1.5 points. So the company did 34.0 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Narvikgården AS moved the same way as comparable companies 1 times. About 3% 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 | 7.3% | 20.1% | +114.4 percentage points | +2.7 percentage points | +111.7 percentage points |
| 2025 | −25.2% | 21.6% | −32.4 percentage points | +1.5 percentage points | −34.0 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 Narvikgården 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 Narvikgården AS fell 32.4 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 | – | – | −107.1% | 7.3% | −25.2% | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Narvikgården AS fell 32.4 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 | – | – | −107.1% | 7.3% | −25.2% | – |
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 Narvikgården AS fell 32.4 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 | – | – | −107.1% | 7.3% | −25.2% | – |
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 Narvikgården AS fell 32.4 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 | – | – | −107.1% | 7.3% | −25.2% | – |
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 Narvikgården AS fell 32.4 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 | – | – | −107.1% | 7.3% | −25.2% | – |
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
Narvikgården AS had an operating margin of −25.2% and an equity ratio of 70.0% in 2025, and ranks 4,291 of 7,993 in Eiendom.
From 2024 to 2025: the operating margin fell from 7.3% to −25.2% and revenue fell by 31%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 44 MNOK and 96 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.6 | 44 MNOK |
| EV/EBIT | 22.6 | not meaningful |
| P/B | 0.9 | 96 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 operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors?
Based on: Operating margin −25.2% (median 21.6%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 4.8% 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 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 | 12 | weight 30% |
|---|---|---|
| Solidity | 85 | weight 25% |
| Liquidity | 92 | weight 15% |
| Growth | 6 | weight 15% |
| Consistency | 56 | weight 15% |
Durability: 64 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Narvikgården AS?
The operating margin was −25.2% in 2025, against a median of 21.6% among companies in the Morning class Small in the same sector. Return on assets was 2.3%.
How solid is Narvikgården AS?
The equity ratio was 70.0% in 2025 (median 28.1%). Debt-to-equity was 0.43 (median 2.32).
What is the liquidity of Narvikgården AS like?
The current ratio was 9.99 in 2025 (median 1.29).
How does Narvikgården AS compare in Eiendom?
Narvikgården AS ranks 4,291 of 7,993 in Eiendom for 2025. Among companies in the Morning class Small it is number 917 of 1,673. Revenue changed by −30.8% from the year before.
Group accounts · 2025
60 of 100
Rank 39 of 158 groups in the Morning class Medium in Eiendom. Groups are ranked only against other groups in the same sector and class, never against single companies.
- Operating revenue, group
- 57 MNOK
- Operating profit, group
- 14 MNOK
- Profit before tax, group
- 7 MNOK
- Total assets, group
- 500 MNOK
- Equity, group
- 236 MNOK
| Key figure | The group | The company alone (2025) |
|---|---|---|
| Operating margin | 24.3% | −25.2% |
| Return on assets | 3.8% | 2.3% |
| Equity ratio | 47.1% | 70.0% |
| Current ratio | 6.35 | 9.99 |
| Revenue growth | −6.0% | −30.8% |
Group index in earlier years: 2023: 72 (37 of 254), 2024: 55 (73 of 185).
Same formulas and weights as the company index. Group and company are never added together, and the group accounts are not part of sector averages or company rankings.
Source: Brønnøysund Register Centre, group accounts 2025 (open data, NLOD 2.0).
Group structure · 2025
15 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.
Narvik Kommune owns 100% of the shares in Narvikgården AS.
Group accounts. Narvikgården AS for 2025: index 60 of 100, number 39 of 158 groups.
The group in figures
- Sectors
- Eiendom (3 companies) 3 of 15 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
- 9 in all. Narvik 9 Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Loss
- 2 companies: Brannbakken 1 AS, Rombaksveien 45 Eiendom AS
- Changed 2024–2025
- 1 company joined the group: Narvik Kapital AS. 1 company left: Bne Fagernes Narvik 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.
-
Narvikgården AS you are here
- Brannbakken 1 AS
- Fagernesfjellet Parkering AS
- Indre Havn Eiendom Narvik AS
- Kinobakken 1 AS
- Narvik Kapital AS
- Narvik Spektrum AS
- Narvik Spektrum Drift AS
- Narvikgården Utleiebygg AS
- Newco 1 Narvik AS
- Newco 2 Narvik AS
- Rombaksveien 45 Eiendom AS
- Sykehusveien 3 AS
- Trekanten Eiendom Narvik AS
- Øvreveien 7 AS
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.
- 983387381
- Legal form
- AS
- Sector
- Eiendom (68.120)
- Morning company class
- Small
- Employees
- 9 registered 10 October 2026
- Founded
- 29 March 2001 25 years in operation
- Share capital
- 47.94 MNOK
- Business address
- 2. etasje, Kongens gate 49, 8514 NARVIK
- Municipality
- Narvik rank 16–25 of 27 in KOSTRA group 9
- Latest accounts filed
- 2025
- Website
- www.narvikgaarden.no
- LEI
- 549300FOGJ4YBGI87054 not renewed (lapsed)
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.
- 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.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Group chain
- Ultimate owner: NARVIK KOMMUNE
- NARVIK KOMMUNE · 100.0%
Change 2007–2025: no material change in the owners.
Majority owner of: Rombaksveien 45 Eiendom AS (100%), Brannbakken 1 AS (100%), Fagernesfjellet Parkering AS (100%), Trekanten Eiendom Narvik AS (100%), Indre Havn Eiendom Narvik AS (100%), Sykehusveien 3 AS (100%), Kinobakken 1 AS (100%), Øvreveien 7 AS (100%)
The portfolio: 7 of the companies it owns shares in have accounts with us, 2 of them as majority owner. The average index is 45. 0 have negative equity and 5 made a loss in the latest year.
Holds shares in: Fagernesfjellet Parkering AS (100%), Narvik Kapital AS (100%), Narvikfjellet AS (5%), Narvikfjellet Allmenn AS (18%), Adminveien AS (24%), Narvik Spektrum AS (100%), Narvikgården Utleiebygg AS (100%), Visit Narvik AS (32%)
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 | 68 | 77 | 48 | |
| Rank | 1,305 | 294 | 4,291 | |
| Operating margin | −107.1% | 7.3% | −25.2% | |
| Return on assets | 11.1% | 14.2% | 2.3% | |
| Equity ratio | 68.6% | 75.3% | 70.0% | |
| Current ratio | 5.87 | 17.34 | 9.99 | |
| Revenue growth | – | 77.2% | −30.8% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 13.0 MNOK | 23.1 MNOK | 16.0 MNOK |
| Operating profit | −14.0 MNOK | 1.7 MNOK | −4.0 MNOK |
| Profit before tax | 11.6 MNOK | 4.9 MNOK | 2.3 MNOK |
| Tax expense | −2.2 MNOK | −1.6 MNOK | −0.4 MNOK |
| Net profit | 13.9 MNOK | 6.5 MNOK | 2.7 MNOK |
| Financial expenses | 18.6 MNOK | 31.5 MNOK | 4.0 MNOK |
| Total assets | 272.5 MNOK | 256.9 MNOK | 280.3 MNOK |
| Current assets | 126.0 MNOK | 83.4 MNOK | 72.2 MNOK |
| Equity | 187.0 MNOK | 193.5 MNOK | 196.3 MNOK |
| Retained earnings | 137.0 MNOK | 143.5 MNOK | 146.3 MNOK |
| Total liabilities | 85.5 MNOK | 63.4 MNOK | 84.1 MNOK |
| Current liabilities | 21.4 MNOK | 4.8 MNOK | 7.2 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 6 November 2026, accounts id 7161669.
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