Thohan 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 same sector. Green is better than most, amber about like the industry and red weaker than most.
- Returns · return on assets 16.1% Better than the industry Industry: 7.8%
- Solidity · equity ratio 94.4% Better than the industry Industry: 27.9%
- Liquidity · current ratio 17.84 Better than the industry Industry: 1.36
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
Not enough data: Revenue not reported
Based on the annual accounts for 2025
How it has gone · 2023–2025
The equity ratio rose from 85.6% in 2023 to 94.4% 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 | – | – | – |
| Operating profit | −0.2 MNOK | −0.2 MNOK | −0.2 MNOK |
| Net profit | 12.7 MNOK | 9.8 MNOK | 15.5 MNOK |
| Total assets | 90.4 MNOK | 89.8 MNOK | 97.8 MNOK |
| Equity | 77.3 MNOK | 83.0 MNOK | 92.3 MNOK |
| Total liabilities | 13.1 MNOK | 6.8 MNOK | 5.5 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.
- 989014382
- Legal form
- AS
- Sector
- Eiendom (68.200)
- Purpose
- Investere i fast eiendom, aksjer og verdipapirer, samt annen virksomhet som står naturlig i forbindelse med dette.
- Employees
- 0–4 (not registered)
- Founded
- 29 November 2005 20 years in operation
- Share capital
- 0.04 MNOK
- Business address
- Festeveien 3, 1525 MOSS
- Municipality
- Moss rank 4–9 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- VAT registered
- No
- LEI
- 9845000D5AFD82F2D491 renews 9 March 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
Worth a closer look
- critical
The operating result does not cover the financial costs. How will the debt be serviced, and what do the lenders say?
Based on: Interest coverage (times) −1.4 (median 1.8); Financial costs as a share of debt 2.3% (median 4.9%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.3% 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 Revenue not reported
- watch No revenue but large assets
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 15.2%. Based on the 10 fiscal years we have. The analysis grows as more years are fetched or imported. Methodology
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating margin | – | 46.3% |
| Profit margin | – | 23.2% |
| Return on assets | 16.1% | 7.8% |
| Equity ratio | 94.4% | 27.9% |
| Debt-to-equity | 0.06 | 2.15 |
| Current ratio | 17.84 | 1.36 |
| Revenue growth | – | 3.5% |
The median and “ahead of” refer to companies in the same sector in 2025. The bar shows the share of companies the figure is ahead of.
Score over time
Score over time needs at least two fiscal years with a score. It will appear when next year's figures are fetched or history is imported.
Working capital and debt
| Measure | Company | Median | |
|---|---|---|---|
| Working capital | |||
| Receivable days All current receivables, including those on group companies, in days of revenue. |
– | 42 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 | |
| Net working capital to revenue Current assets less bank deposits less current liabilities, divided by revenue. Negative: short-term debt funds the operations. |
– | −10.9% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
0.9% | 48.9% | |
| 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. |
−1.4 | 1.8 | |
| 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. |
2.3% | 4.9% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
1.5% | 86.6% | |
The operating result is negative, so the interest coverage is negative: operations cover none of the financial costs.
Net working capital (current assets less bank deposits less current liabilities): 90.4 MNOK.
Of the financial costs of 0.1 MNOK, 0.1 MNOK is reported as interest costs in the accounts.
The median and the bar refer to companies 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.
The industry or the company: what drove the result?
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 Thohan AS. The figures stand side by side; we claim no cause.
House prices (existing homes) (indeks (2015 = 100))
| 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 | – | – | – | – | – | – |
Source: SSB (07221, CC BY 4.0). Source
Policy rate (prosent)
| 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 | – | – | – | – | – | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Construction cost index for dwellings (indeks (2015 = 100))
| 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 | – | – | – | – | – | – |
Source: SSB (08651, CC BY 4.0). Source
Consumer price index (indeks (2025 = 100))
| 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 | – | – | – | – | – | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: real estate (indeks)
| 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 | – | – | – | – | – | – |
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
Thohan AS had an equity ratio of 94.4% in 2025. The company is not ranked: revenue not reported.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 40 MNOK and 82 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | 82 MNOK |
| EV/EBIT | 19.2 | not meaningful |
| P/B | 0.7 | 40 MNOK |
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 (68.2): R.E.I.T..
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
Questions and answers
How profitable is Thohan AS?
The operating margin was – in 2025, against a median of 46.3% among companies in the same sector. Return on assets was 16.1%.
How solid is Thohan AS?
The equity ratio was 94.4% in 2025 (median 27.9%). Debt-to-equity was 0.06 (median 2.15).
What is the liquidity of Thohan AS like?
The current ratio was 17.84 in 2025 (median 1.36).
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 7 November 2026. Only names are shown.
- Parent company
- Parent does not consolidate the company
Source: GLEIF (Global Legal Entity Identifier Foundation), fetched 31 October 2026. The parent is the one the company itself reported to GLEIF.
Shareholders (2025)
- Number of shareholders
- 4
- Largest owner
- 42.5% · top three 47.5%
- Split
- companies 8% · private persons 42% · foreign 0%
- Kote37 AS · 5.0%
- Amahan AS · 5.0%
- Julhan AS · 5.0%
- 1 private persons · 42.5%
Change 2007–2025:
32% of the shares changed owner (3 new and 0 departed owners). The majority owner changed.
New owners (companies): Amahan AS, Julhan AS, Kote37 AS
The portfolio: 6 of the companies it owns shares in have accounts with us, 0 of them as majority owner. The average index is 41. 0 have negative equity and 4 made a loss in the latest year.
Holds shares in: Sparebank 1 Sør-Norge ASA (0%), Sarpsborg Fotball Invest AS (0%), B2 Impact ASA (0%), LCA.NO AS (0%), Wittario AS (0%), DNB Bank ASA (0%), Gjensidige Forsikring ASA (0%), Birdview AS (1%)
The owners' shares do not add up to the company's total number of shares in the source.
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 | – | – | – | |
| Rank | – | – | – | |
| Operating margin | – | – | – | |
| Return on assets | 14.6% | 11.2% | 16.1% | |
| Equity ratio | 85.6% | 92.4% | 94.4% | |
| Current ratio | 6.75 | 13.08 | 17.84 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | – |
| Operating profit | −0.2 MNOK | −0.2 MNOK | −0.2 MNOK |
| Profit before tax | 12.7 MNOK | 9.9 MNOK | 15.6 MNOK |
| Tax expense | 0.0 MNOK | 0.1 MNOK | 0.1 MNOK |
| Net profit | 12.7 MNOK | 9.8 MNOK | 15.5 MNOK |
| Financial expenses | 0.5 MNOK | 0.2 MNOK | 0.1 MNOK |
| Total assets | 90.4 MNOK | 89.8 MNOK | 97.8 MNOK |
| Current assets | 87.7 MNOK | 87.4 MNOK | 96.7 MNOK |
| Equity | 77.3 MNOK | 83.0 MNOK | 92.3 MNOK |
| Retained earnings | 77.3 MNOK | 82.9 MNOK | 92.2 MNOK |
| Total liabilities | 13.1 MNOK | 6.8 MNOK | 5.5 MNOK |
| Current liabilities | 13.0 MNOK | 6.7 MNOK | 5.4 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 9 November 2026, accounts id 6570439.