Noah Solutions AS
Score · fiscal year 2025
85of 100
How to read this: the company is ahead of 100 % of companies in the Morning class Large in the same sector in 2025. What does this mean?
Rank in the Morning class Large: 1 of 18 · What are Morning company classes?
Place in the whole sector: 1 of 203 · Vann, avløp og renovasjon
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 94 and solidity 94 out of 100 among companies in the Morning class Large in the same sector in 2025. Methodology
Against the sector
Noah Solutions AS is 37 points above the median for companies in the Morning class Large in the same sector in 2025.
Median score 48 among 18 companies.
Against companies in the Morning class Large in the same sector in 2025: operating margin 17.3% (median 3.4%) and equity ratio 73.3% (median 28.4%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 919 MNOK | 1,092 MNOK |
| Operating margin | 17.3% | 3.4% |
| Profit margin | 20.5% | 5.3% |
| Return on assets | 18.1% | 10.2% |
| Equity ratio | 73.3% | 28.4% |
| Debt-to-equity | 0.36 | 2.52 |
| Current ratio | 2.59 | 0.98 |
| Revenue growth | 11.2% | 4.8% |
| Revenue per employee | 10.10 MNOK | 5.78 MNOK |
The median and “ahead of” refer to companies in the Morning class Large in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 85, Noah Solutions AS does better than 100% of companies in the Morning class Large in the same sector (18 companies) in 2025.
Score 2023–2025
- Noah Solutions AS
- Median: companies in the Morning class Large in the same sector
Noah Solutions AS has a score of 85 for 2025, rank 1 of 203 in the sector.
Strongest: Liquidity: percentile 100 against peers, current ratio 2.59 against a median of 0.98. Profitability: percentile 94 against peers, operating margin 17.3% against a median of 3.4%.
No area is clearly below its peers.
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
Noah Solutions AS had an operating margin of 17.3% and an equity ratio of 73.3% in 2025, and ranks 1 of 203 in Vann, avløp og renovasjon.
From 2024 to 2025: the operating margin fell from 29.0% to 17.3% and revenue grew by 11%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 774 MNOK and 1,474 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.0 | 1,474 MNOK |
| EV/EBIT | 8.0 | 1,338 MNOK |
| P/B | 1.0 | 774 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
- positive
Upper quartile on profitability, solidity and liquidity. What sets this company apart from the rest of the sector?
Based on: Operating margin 17.3% (median 3.4%); Equity ratio 73.3% (median 28.4%); Current ratio 2.59 (median 0.98).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 1.1% 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 1.1%. Based on the 4 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
What the score is made of
| Profitability | 94 | weight 30% |
|---|---|---|
| Solidity | 94 | weight 25% |
| Liquidity | 100 | weight 15% |
| Growth | 76 | weight 15% |
| Consistency | 47 | weight 15% |
Durability: 86 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Noah Solutions AS?
The operating margin was 17.3% in 2025, against a median of 3.4% among companies in the Morning class Large in the same sector. Return on assets was 18.1%.
How solid is Noah Solutions AS?
The equity ratio was 73.3% in 2025 (median 28.4%). Debt-to-equity was 0.36 (median 2.52).
What is the liquidity of Noah Solutions AS like?
The current ratio was 2.59 in 2025 (median 0.98).
How does Noah Solutions AS compare in Vann, avløp og renovasjon?
Noah Solutions AS ranks 1 of 203 in Vann, avløp og renovasjon for 2025. Among companies in the Morning class Large it is number 1 of 18. Revenue changed by 11.2% from the year before.
Public contracts
- Contracts awarded since 2024
- 1
- Total awarded value since 2024
- value not stated
- Framework agreements
- 1
- Left out of the total: the value is a ceiling, not actual spend.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 7 July 2025 | Returkraft AS | Kontraktstildeling_ Henting, transport og godkjent sluttbehandling av filterstøv | 27.0 MNOK (framework) |
| 27 March 2023 | Statens vegvesen | Kjøp av mottak og sluttdisponering av overskuddsmasser fra «Nytt regjeringskvartal -Arbeider med Ring 1 | 88.6 MNOK |
| 1 October 2018 | BIR Avfallsenergi AS | Transport, mottak og sluttbehandling av flygeaske fra Energianlegget i Rådalen | 32.0 MNOK (framework) |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 984902980
- Legal form
- AS
- Sector
- Vann, avløp og renovasjon (38.210)
- Morning company class
- Large
- Employees
- 91 registered 10 October 2026
- Founded
- 8 July 2002 24 years in operation
- Share capital
- 63.13 MNOK
- Business address
- Langgaten 48, 3080 HOLMESTRAND
- Municipality
- Holmestrand rank 7–14 of 27 in KOSTRA group 9
- Latest accounts filed
- 2025
- LEI
- 549300IKPO5931EC6233 renews 7 December 2026
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
- Noah AS (Norway)
- Ultimate parent
- Gjelsten Holding AS (Norway)
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 1 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 87 | 86 | 85 | |
| Rank | 7 | 1 | 1 | |
| Operating margin | 27.4% | 29.0% | 17.3% | |
| Return on assets | 23.5% | 25.1% | 18.1% | |
| Equity ratio | 61.4% | 70.0% | 73.3% | |
| Current ratio | 1.16 | 1.82 | 2.59 | |
| Revenue growth | – | 12.0% | 11.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 737.5 MNOK | 826.1 MNOK | 918.9 MNOK |
| Operating profit | 202.2 MNOK | 239.4 MNOK | 159.0 MNOK |
| Profit before tax | 216.5 MNOK | 257.7 MNOK | 188.5 MNOK |
| Net profit | 168.8 MNOK | 201.2 MNOK | 147.4 MNOK |
| Financial expenses | 9.6 MNOK | 6.5 MNOK | 3.0 MNOK |
| Total assets | 963.6 MNOK | 1,051.6 MNOK | 1,055.2 MNOK |
| Current assets | 343.6 MNOK | 442.8 MNOK | 523.8 MNOK |
| Equity | 592.1 MNOK | 736.0 MNOK | 773.7 MNOK |
| Retained earnings | – | – | 2.6 MNOK |
| Total liabilities | 371.5 MNOK | 315.6 MNOK | 281.5 MNOK |
| Current liabilities | 295.4 MNOK | 243.1 MNOK | 202.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 1 November 2026, accounts id 7087477.
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