Tubilah AS
Score · fiscal year 2025
49of 100
How to read this: the company is ahead of 49 % of companies in the Morning class Medium in the same sector in 2025. What does this mean?
Rank in the Morning class Medium: 251 of 491 · What are Morning company classes?
Place in the whole sector: 1,142 of 2,213 · Sjømat
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 1 and solidity 82 out of 100 among companies in the Morning class Medium in the same sector in 2025. Methodology
Against the sector
Tubilah AS is at the median for companies in the Morning class Medium in the same sector in 2025.
Median score 49 among 491 companies.
Against companies in the Morning class Medium in the same sector in 2025: operating margin −113.6% (median 13.4%) and equity ratio 61.8% (median 33.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 57 MNOK | 119 MNOK |
| Operating margin | −113.6% | 13.4% |
| Profit margin | −130.4% | 8.2% |
| Return on assets | −20.2% | 9.2% |
| Equity ratio | 61.8% | 33.1% |
| Debt-to-equity | 0.62 | 1.99 |
| Current ratio | 2.94 | 1.68 |
| Revenue growth | 68.7% | 10.6% |
| Revenue per employee | 2.84 MNOK | 5.21 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 49, Tubilah AS does better than 49% of companies in the Morning class Medium in the same sector (491 companies) in 2025.
Score 2023–2025
- Tubilah AS
- Median: companies in the Morning class Medium in the same sector
Tubilah AS has a score of 49 for 2025, rank 1,142 of 2,213 in the sector.
Strongest: Growth: percentile 86 against peers, revenue growth 68.7% against a median of 10.6%. Solidity: percentile 82 against peers, equity ratio 61.8% against a median of 33.1%.
Weakest: Profitability: percentile 1 against peers, operating margin −113.6% against a median of 13.4%. Consistency: percentile 25 against peers.
Worth a closer look
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −130.4% (median 8.2%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −113.6% (median 13.4%).
- What lies behind weak profitability, and will it last?
- What lies behind weak consistency, 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
Tubilah AS had an operating margin of −113.6% and an equity ratio of 61.8% in 2025, and ranks 1,142 of 2,213 in Sjømat.
From 2024 to 2025: revenue grew by 69% and the equity ratio rose from 33.3% to 61.8%.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 236 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 16.9 | not meaningful |
| EV/EBIT | 17.0 | not meaningful |
| P/B | 2.2 | 236 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 company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −130.4% (median 8.2%).
- 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 −113.6% (median 13.4%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 8.1% 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
- watch Extreme margin: check 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 −0.5%. 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 | 1 | weight 30% |
|---|---|---|
| Solidity | 82 | weight 25% |
| Liquidity | 77 | weight 15% |
| Growth | 86 | weight 15% |
| Consistency | 25 | weight 15% |
Durability: 36 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Tubilah AS?
The operating margin was −113.6% in 2025, against a median of 13.4% among companies in the Morning class Medium in the same sector. Return on assets was −20.2%. The company made a loss before tax.
How solid is Tubilah AS?
The equity ratio was 61.8% in 2025 (median 33.1%). Debt-to-equity was 0.62 (median 1.99).
What is the liquidity of Tubilah AS like?
The current ratio was 2.94 in 2025 (median 1.68).
How does Tubilah AS compare in Sjømat?
Tubilah AS ranks 1,142 of 2,213 in Sjømat for 2025. Among companies in the Morning class Medium it is number 251 of 491. Revenue changed by 68.7% from the year before.
From the Central Coordinating Register
- Org. no.
- 987560835
- Legal form
- AS
- Sector
- Sjømat (03.211)
- Morning company class
- Medium
- Employees
- 20 registered 10 October 2026
- Founded
- 8 November 2004 21 years in operation
- Share capital
- 0.52 MNOK
- Business address
- Kunnskapssmia, Austbøvegen 26, 5420 RUBBESTADNESET (BØMLO)
- Municipality
- Bømlo rank 2 of 13 in KOSTRA group 8
- Latest accounts filed
- 2025
- Website
- www.tubilah.no
- LEI
- 549300S0A0VBAKHGO123 renews 6 July 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 29 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.
Shareholders (2025)
- Number of shareholders
- 19
- Largest owner
- 43.1% · top three 67.8%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 10%
- Caiano Invest AS · 43.1%
- Karos Shipping AS · 15.7%
- Kveito AS · 9.0%
- Steinsvåg Invest AS · 6.8%
- Jakob Særsten Holding AS · 6.1%
- K E Invest A/S · 5.3%
- Åsholmen Invest AS · 5.0%
- Tol Invest AS · 2.6%
- Cerebellum Holding AS · 1.0%
- Ajs Holding AS · 1.0%
- 1 private persons · 0.0%
Change 2007–2025:
100% of the shares changed owner (19 new and 8 departed owners).
New owners (companies): A. Beyer Eiendom AS, Ajs Holding AS, Caiano Invest AS, Carrera Industrier AS, Cerebellum Holding AS
Departed (companies): Caiano AS, Charrua AS, Evik AS, Jiser AS, Los Gruppen AS
Majority owner of: Sogn Aqua Solutions AS (100%)
The portfolio: 3 of the companies it owns shares in have accounts with us, 1 of them as majority owner. The average index is 53. 0 have negative equity and 1 made a loss in the latest year.
Holds shares in: Sogn Aqua Juveniles AS (28%), Sogn Aqua Solutions AS (100%), Visit Sognefjord AS (0%)
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 29 October 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 33 | 25 | 49 | |
| Rank | 1,566 | 1,780 | 1,142 | |
| Operating margin | −48.7% | −115.4% | −113.6% | |
| Return on assets | −6.8% | −11.1% | −20.2% | |
| Equity ratio | 49.5% | 33.3% | 61.8% | |
| Current ratio | 1.71 | 1.55 | 2.94 | |
| Revenue growth | – | −29.5% | 68.7% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 47.8 MNOK | 33.7 MNOK | 56.8 MNOK |
| Operating profit | −23.3 MNOK | −38.9 MNOK | −64.5 MNOK |
| Profit before tax | −34.0 MNOK | −51.8 MNOK | −74.1 MNOK |
| Tax expense | – | – | – |
| Net profit | −34.0 MNOK | −51.8 MNOK | −74.1 MNOK |
| Financial expenses | 11.1 MNOK | 13.2 MNOK | 9.8 MNOK |
| Total assets | 338.1 MNOK | 346.3 MNOK | 319.1 MNOK |
| Current assets | 136.8 MNOK | 156.1 MNOK | 167.5 MNOK |
| Equity | 167.2 MNOK | 115.5 MNOK | 197.3 MNOK |
| Retained earnings | −135.2 MNOK | −187.0 MNOK | −5.0 MNOK |
| Total liabilities | 170.9 MNOK | 230.8 MNOK | 121.8 MNOK |
| Current liabilities | 80.2 MNOK | 100.6 MNOK | 56.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 29 October 2026, accounts id 7025806.
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