Ringen Legetjenester AS
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Key facts
Is the company run well?
Five key figures against companies in the Morning class Micro in the same sector. Green is better than most, amber about like the industry and red weaker than most.
- Profitability · operating margin 26.3% Better than the industry Industry: 8.9%
- Returns · return on assets 58.1% Better than the industry Industry: 18.9%
- Solidity · equity ratio 8.7% Weaker than the industry Industry: 43.5%
- Liquidity · current ratio 1.10 Weaker than the industry Industry: 1.56
- Growth · revenue growth −4.4% Weaker than the industry Industry: 4.1%
The mark comes from the company's place among comparable companies (percentile): green from 60, amber from 40, red below 40. Negative equity, an operating loss and a current ratio under 1 pull it down regardless. Methodology
Score · fiscal year 2025
54of 100
How to read this: the company is ahead of 57 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 2,393 of 5,524 · What are Morning company classes?
Place in the whole sector: 2,853 of 6,597 · Helse og omsorg
Profile
Cheetah · Sprinter
High profitability, lower resilience
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 81 and resilience 23 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Ringen Legetjenester AS is 3 points above the median for companies in the Morning class Micro in the same sector in 2025.
Median score 51 among 5,516 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin 26.3% (median 8.9%) and equity ratio 8.7% (median 43.5%).
How it has gone · 2023–2025
Revenue rose by 7 % from 2023 to 2025, to 3.2 MNOK. The operating margin rose from 5.3% in 2023 to 26.3% in 2025. The equity ratio fell from 59.9% in 2023 to 8.7% in 2025.
Amounts in the reporting currency. The full year-by-year table is further down under «Details». See every figure year by year
Accounts in short
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.0 MNOK | 3.3 MNOK | 3.2 MNOK |
| Operating profit | 0.2 MNOK | 0.3 MNOK | 0.8 MNOK |
| Net profit | 0.1 MNOK | 0.2 MNOK | 0.7 MNOK |
| Total assets | 0.8 MNOK | 1.0 MNOK | 1.4 MNOK |
| Equity | 0.5 MNOK | 0.4 MNOK | 0.1 MNOK |
| Total liabilities | 0.3 MNOK | 0.6 MNOK | 1.3 MNOK |
From the Brønnøysund Register Centre, in the company's reporting currency (NOK). See every figure year by year
From the Central Coordinating Register
- Org. no.
- 988580902
- Legal form
- AS
- Sector
- Helse og omsorg (86.210)
- Purpose
- Ivaretakelse av legetjenester, pasientarbeid, foredrag, kurs- og informasjonsvirksomhet, prosjekt- og utredningsarbeide foruten finansforvaltning og drift av fast eiendom.
- Morning company class
- Micro
- Employees
- 0–4 (not registered) Payroll costs in the accounts: 1.2 MNOK (2025).
- Founded
- 1 June 2005 21 years in operation
- Share capital
- 0.03 MNOK
- Business address
- Høvikveien 84, 1356 BEKKESTUA (BÆRUM)
- Municipality
- Bærum rank 1 of 11 in KOSTRA group 12
- Audit
- Audit opted out from 12 November 2011
- Latest accounts filed
- 2025
- VAT registered
- No
- Former names
- Ingvild Stokke Ringen AS until 2019
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
Ringen Legetjenester AS has a score of 54 for 2025, rank 2,853 of 6,597 in the sector.
Strongest: Profitability: percentile 81 against peers, operating margin 26.3% against a median of 8.9%.
Weakest: Solidity: percentile 16 against peers, equity ratio 8.7% against a median of 43.5%. Liquidity: percentile 31 against peers, current ratio 1.10 against a median of 1.56.
Worth a closer look
- The equity ratio is very low. Could the company absorb a bad year, and does it need more equity? Based on: equity ratio 8.7% (median 43.5%).
- Current liabilities exceed current assets other than bank deposits, and the current ratio is weak. Is it customer prepayments and supplier credit that fund the operations, or short-term loans that must be renewed? Based on: net working capital to revenue −39.4% (median −9.6%); current ratio 1.10 (median 1.56).
- What lies behind weak solidity, and will it last?
- What lies behind weak liquidity, 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
Worth a closer look
- watch
The equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 8.7% (median 43.5%).
- watch
Current liabilities exceed current assets other than bank deposits, and the current ratio is weak. Is it customer prepayments and supplier credit that fund the operations, or short-term loans that must be renewed?
Based on: Net working capital to revenue −39.4% (median −9.6%); Current ratio 1.10 (median 1.56).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 0.0% 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 2026, the sector's weakest year, for this company.
The sector's weakest year was 2026, with a median operating margin of −10.4%. 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 | 81 | weight 40% |
|---|---|---|
| Solidity | 16 | weight 20% |
| Liquidity | 31 | weight 5% |
| Growth | 57 | weight 25% |
| Consistency | 31 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 54 (average over 3 years)
Index version 3. Data completeness 100%: the share of the weights that had data.
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 3 MNOK | 3 MNOK |
| Operating margin | 26.3% | 8.9% |
| Profit margin | 26.3% | 9.1% |
| Return on assets | 58.1% | 18.9% |
| Equity ratio | 8.7% | 43.5% |
| Debt-to-equity | 10.46 | 0.99 |
| Current ratio | 1.10 | 1.56 |
| Revenue growth | −4.4% | 4.1% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
With an index of 54, Ringen Legetjenester AS does better than 57% of companies in the Morning class Micro in the same sector (5,524 companies) in 2025.
Score 2023–2025
- Ringen Legetjenester AS
- Median: companies in the Morning class Micro in the same sector
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
7 days | 14 days | |
| Inventory and other current assets, days Current assets other than receivables and bank deposits, that is inventory and short-term investments, in days of revenue. |
0 days | 0 days | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
−39.4% | −9.6% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
95.8% | 75.9% | |
| Debt and interest burden | |||
| Interest coverage (times) Operating result divided by all financial costs. Below 1: operations do not cover the cost of the debt. |
2,059.4 | 38.0 | |
| Financial costs as a share of debt All financial costs (interest, currency losses and other) divided by all debt, interest-free debt included. Not an interest rate. |
0.0% | 0.3% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
– | 6.4% | |
Net working capital (current assets less bank deposits less current liabilities): −1.2 MNOK.
Of the financial costs of 0.0 MNOK, 0.0 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies in the Morning class Micro in the same sector in 2025. The bar shows the share of the group with a lower figure: higher is not always better, long receivable days tie up capital, for example. These figures do not count in the score.
Returns, debt against earnings and quality
| Measure | Company | Median | |
|---|---|---|---|
| Returns | |||
| Return on equity (ROE) Net result over the average of equity at the start and end of the year (the end alone when last year is missing). Not calculated with negative equity. |
252.1% | 30.0% | |
| Return on capital employed (ROCE) Operating result over capital employed, that is total assets less current liabilities. The return regardless of how the company is financed. |
665.9% | 28.2% | |
| Net margin Net result over revenue. The first part of the DuPont split of return on equity. |
21.4% | 7.4% | |
| Asset turnover (revenue over assets) Revenue over total assets: how many kroner of revenue each krone of assets gives. The second part of the DuPont split. |
2.21 | 2.14 | |
| Equity multiplier Total assets over equity: 4 means three quarters is financed with debt. The third part of the DuPont split. |
11.46 | 1.99 | |
| Debt and financing | |||
| Net debt in times operating result Long-term liabilities less cash, over the operating result: roughly how many years the business must earn to repay the debt. A negative figure means more cash than long-term debt. Rough, because the accounts do not split out interest-bearing debt. Only calculated when the operating result is positive. |
– | −1.0 | |
| Fixed-asset cover Equity plus long-term liabilities over fixed assets (total assets less current assets). Below 1: fixed assets are partly financed with short-term debt. |
– | 1.65 | |
| Quick ratio (without inventory) Cash plus receivables over current liabilities. Like the current ratio but without inventory and short-term investments. |
1.10 | 1.38 | |
| Quality and resilience | |||
| Effective tax rate Tax expense over profit before tax, only when the profit is positive. Far from 22% points to one-off items, tax losses carried forward or group contributions. |
18.6% | 22.0% | |
| Operating leverage Percentage change in operating result over percentage change in revenue from last year. 3 means a 1% fall in revenue gives a 3% fall in operating result. Only calculated when revenue moved at least 2% and last year's operating result was positive. |
−38.8 | 1.8 | |
| Payroll costs over revenue Payroll costs (with employer's contribution and pension) over revenue. Shows how much of revenue is a fixed cost in a service business. |
36.8% | 45.5% | |
| Revenue safety margin How far revenue can fall before the operating result is zero, assuming payroll is fixed and all other costs follow revenue. A calculation, not a measurement: depreciation and rent are also fixed, so reality is lower. |
41.7% | 27.0% | |
| Cash runway (months) Cash over the operating loss per month, only for years with a loss. Assumes the loss continues unchanged and no new financing arrives. Capped at 120 months. |
– | 32 mo. | |
DuPont on the closing balance: net margin 21.4% × asset turnover 2.21 × multiplier 11.46 = 542.0% of equity at the end of the year. The return on equity above uses average equity and can differ slightly.
The median and the bar are for companies in the Morning class Micro in the same sector in 2025. The bar shows the share of the group with a lower figure: high is not always good. The figures are our own calculations from the annual accounts and do not count in the score. Open data has no depreciation, so no EBITDA, and the accounts do not split out interest-bearing debt. How we calculate
The industry or the company: what drove the result?
In 2025 the operating margin of Ringen Legetjenester AS rose by 17.0 percentage points. Comparable companies fell by a median 0.3 points. So the company did 17.3 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Ringen Legetjenester AS moved the same way as comparable companies 0 times. About 6% 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 | 9.3% | 9.2% | +4.0 percentage points | −1.0 percentage points | +5.0 percentage points |
| 2025 | 26.3% | 8.9% | +17.0 percentage points | −0.3 percentage points | +17.3 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 Ringen Legetjenester AS. The figures stand side by side; we claim no cause.
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Ringen Legetjenester AS rose 17.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 103.0 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +3.0% |
| The company's operating margin | – | – | 5.3% | 9.3% | 26.3% | – |
Source: SSB (14710, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Ringen Legetjenester AS rose 17.0 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 | – | – | 5.3% | 9.3% | 26.3% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Wage index: health services (indeks)
Wage index: health services rose 5.1% in 2025; the operating margin of Ringen Legetjenester AS rose 17.0 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: health services, annual average | 88.0 | 91.6 | 96.0 | 100.6 | 105.8 | 109.5 (so far) |
| Change from the year before | +2.5% | +4.1% | +4.7% | +4.9% | +5.1% | +3.6% |
| The company's operating margin | – | – | 5.3% | 9.3% | 26.3% | – |
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
Ringen Legetjenester AS had an operating margin of 26.3% and an equity ratio of 8.7% in 2025, and ranks 2,853 of 6,597 in Helse og omsorg.
From 2024 to 2025: the operating margin rose from 9.3% to 26.3% and the equity ratio fell from 42.2% to 8.7%.
This text is generated automatically from the 2025 accounts.
Three simple methods
Suggested price: about 4 MNOK
The mean of the 3 methods below (P/E, EV/EBIT and P/B with listed multiples and a size adjustment), rounded to two significant figures. It is a calculation, not a bid or a valuation. The methods differ widely (the highest is 89.9 times the lowest), so the estimate is uncertain.
That is about 39,000 NOK per share, on 100 shares in the shareholder register.
The methods give between 0 MNOK and 8 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.8 | 4 MNOK |
| EV/EBIT | 23.4 | 8 MNOK |
| P/B | 1.1 | 0 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 10 MNOK |
| Enterprise value after the size adjustment | 6 MNOK |
| Less net debt (rough figure) | −1 MNOK |
| Equity value | 8 MNOK |
Net debt is a rough figure: long-term liabilities minus cash. The accounts do not split interest-bearing debt from other liabilities, and short-term borrowings are not included. The size adjustment applies to the enterprise value, not to the debt.
The listed basis is the value at listed multiples. The estimate is lowered for size: a small-company premium of 4% on the cost of equity gives a value 38% lower. No separate marketability discount is applied, because the premium already allows for the company being small and unlisted.
The multiples are from the listed industry that matches the NACE code (86): Hospitals/Healthcare Facilities.
Not financial advice. The value range is a rough model estimate from listed-company multiples, not a valuation, a price target or a price offer. The actual value may differ greatly. Read more
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
Figures you will not find in any register
We calculated these figures ourselves from the accounts and registers we have read. The company has not reported them and the Brønnøysund Register Centre does not publish them. They are indications and are not part of the index. How we calculate
- Equity paid out or paid in
- 1.0 MNOK left equity beyond the result in 2025.
That equals 142% of the year's result.
More left than the company earned in the year.
Over 2 years it equals 138% of the sum of the results.
Calculated as retained earnings at the start of the year + net result − retained earnings at the end of the year. What remains is dividends and group contributions, plus transfers to other items and corrections of earlier years. It is not a dividend figure. - Owners and leadership aged 60 or older
- No sign of a near generation change in the ages.
- The chair is under 60.
- The managing director is under 60.
- 0 of 1 on the board are 60 or older.
Not financial advice. The index, rank, signals and advice are rule-based indications from the latest filed annual accounts. They are not a credit rating, an assessment of management or a recommendation to buy, sell or do business with the company. Read more
Questions and answers
How profitable is Ringen Legetjenester AS?
The operating margin was 26.3% in 2025, against a median of 8.9% among companies in the Morning class Micro in the same sector. Return on assets was 58.1%.
How solid is Ringen Legetjenester AS?
The equity ratio was 8.7% in 2025 (median 43.5%). Debt-to-equity was 10.46 (median 0.99).
What is the liquidity of Ringen Legetjenester AS like?
The current ratio was 1.10 in 2025 (median 1.56).
How does Ringen Legetjenester AS compare in Helse og omsorg?
Ringen Legetjenester AS ranks 2,853 of 6,597 in Helse og omsorg for 2025. Among companies in the Morning class Micro it is number 2,393 of 5,524. Revenue changed by −4.4% from the year before.
Competitors
The 8 closest competitors in the same line of business, placed in the same matrix as the sector page: profitability up, resilience to the right. These are the companies the competitor analysis and the strategy report compare with.
Each bubble is a company: this company and its closest competitors in the same line of business and size, the same ones the competitor analysis uses. Placement is 0–100 against the whole sector and Morning company class: further right is more robust, higher up is more profitable. Bubble size is revenue. The light bubble and arrow show where the company stood the year before. Pick a profile to see fewer at a time.
| Company | Profile | Operating revenue | Operating margin | Score |
|---|---|---|---|---|
| Mathisen Legetjenester AS |  Beaver |
3 MNOK | −7.4% | 19 |
| Lege Andreas Johannes Heck AS |  Cheetah |
3 MNOK | 8.4% | 53 |
| Ringen Legetjenester AS (this company) | Cheetah |
3 MNOK | 26.3% | 54 |
| Næss-Andresen AS |  Lion |
3 MNOK | 26.4% | 67 |
| Lege Benedicte Seterlund AS | Lion |
3 MNOK | 30.1% | 72 |
| Awk Helse AS | Cheetah |
3 MNOK | 35.2% | 58 |
| Normed AS | Lion |
3 MNOK | 90.8% | 79 |
| DR Agdestein AS | Beaver |
3 MNOK | 7.6% | 31 |
| Andrew Moss Helse AS | Cheetah |
3 MNOK | 15.9% | 47 |
The selection is the closest in revenue within the same industry code. When you order, you can swap competitors. Order competitor analysis
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 7 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 2
- Largest owner
- 50.0%
- Split
- companies 0% · private persons 100% · foreign 0%
- Owned from the same municipality
- 100%
Change 2007–2025: 50% of the shares changed owner (1 new and 0 departed owners). The majority owner changed.
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.
Is this your company? Suggest changes or add information
Figures last fetched 9 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 53 | 56 | 54 | |
| Rank | 2,719 | 2,441 | 2,853 | |
| Operating margin | 5.3% | 9.3% | 26.3% | |
| Return on assets | 20.1% | 31.6% | 58.1% | |
| Equity ratio | 59.9% | 42.2% | 8.7% | |
| Current ratio | 2.48 | 1.73 | 1.10 | |
| Revenue growth | – | 11.6% | −4.4% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 3.0 MNOK | 3.3 MNOK | 3.2 MNOK |
| Operating profit | 0.2 MNOK | 0.3 MNOK | 0.8 MNOK |
| Profit before tax | 0.2 MNOK | 0.3 MNOK | 0.8 MNOK |
| Tax expense | 0.1 MNOK | 0.1 MNOK | 0.2 MNOK |
| Net profit | 0.1 MNOK | 0.2 MNOK | 0.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Total assets | 0.8 MNOK | 1.0 MNOK | 1.4 MNOK |
| Current assets | 0.8 MNOK | 1.0 MNOK | 1.4 MNOK |
| Equity | 0.5 MNOK | 0.4 MNOK | 0.1 MNOK |
| Retained earnings | 0.4 MNOK | 0.3 MNOK | 0.0 MNOK |
| Total liabilities | 0.3 MNOK | 0.6 MNOK | 1.3 MNOK |
| Current liabilities | 0.3 MNOK | 0.6 MNOK | 1.3 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 6594443.
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