Mapsi AS
Score · fiscal year 2025
58of 100
How to read this: the company is ahead of 68 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 355 of 1,101 · What are Morning company classes?
Place in the whole sector: 1,039 of 3,294 · Informasjon og kommunikasjon
Profile
Cheetah · Sprinter
High profitability, lower solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 98 and solidity 13 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Mapsi AS is 8 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 50 among 1,101 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 40.6% (median 4.8%) and equity ratio 7.2% (median 34.3%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 25 MNOK | 22 MNOK |
| Operating margin | 40.6% | 4.8% |
| Profit margin | 41.1% | 5.0% |
| Return on assets | 69.6% | 9.1% |
| Equity ratio | 7.2% | 34.3% |
| Debt-to-equity | 12.96 | 1.62 |
| Current ratio | 1.08 | 1.33 |
| Revenue growth | 25.2% | 7.9% |
| Revenue per employee | 1.70 MNOK | 1.81 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 58, Mapsi AS does better than 68% of companies in the Morning class Small in the same sector (1,101 companies) in 2025.
Score 2023–2025
- Mapsi AS
- Median: companies in the Morning class Small in the same sector
Mapsi AS has a score of 58 for 2025, rank 1,039 of 3,294 in the sector.
Strongest: Profitability: percentile 98 against peers, operating margin 40.6% against a median of 4.8%. Growth: percentile 77 against peers, revenue growth 25.2% against a median of 7.9%.
Weakest: Solidity: percentile 13 against peers, equity ratio 7.2% against a median of 34.3%. Liquidity: percentile 32 against peers, current ratio 1.08 against a median of 1.33.
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 7.2% (median 34.3%).
- Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have? Based on: revenue growth 25.2% (median 7.9%); current ratio 1.08 (median 1.33).
- What lies behind weak solidity, 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
The industry or the company: what drove the result?
In 2025 the operating margin of Mapsi AS rose by 0.7 percentage points. Comparable companies rose by a median 0.3 points. So the company did 0.3 points better than the industry, for reasons of its own.
Over 2 year-to-year changes Mapsi AS moved the same way as comparable companies 1 times. About 24% 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 | 39.9% | 4.5% | −0.9 percentage points | +0.1 percentage points | −1.0 percentage points |
| 2025 | 40.6% | 4.8% | +0.7 percentage points | +0.3 percentage points | +0.3 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 Mapsi AS. The figures stand side by side; we claim no cause.
Service prices: information and communication (indeks (2021 = 100))
Service prices: information and communication rose 4.0% in 2025; the operating margin of Mapsi AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: information and communication, annual average | 100.0 | 103.3 | 108.7 | 112.2 | 116.7 | 120.0 (so far) |
| Change from the year before | – | +3.2% | +5.3% | +3.2% | +4.0% | +2.8% |
| The company's operating margin | – | – | 40.8% | 39.9% | 40.6% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: information and communication (indeks (2021 = 100))
Turnover index: information and communication rose 4.6% in 2025; the operating margin of Mapsi AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: information and communication, annual average | 99.6 | 111.4 | 126.4 | 128.3 | 134.2 | 141.3 (so far) |
| Change from the year before | +14.7% | +11.8% | +13.5% | +1.5% | +4.6% | +5.3% |
| The company's operating margin | – | – | 40.8% | 39.9% | 40.6% | – |
Source: SSB (13863, CC BY 4.0). Source
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the operating margin of Mapsi AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| The company's operating margin | – | – | 40.8% | 39.9% | 40.6% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Mapsi AS rose 0.7 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 | – | – | 40.8% | 39.9% | 40.6% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the operating margin of Mapsi AS rose 0.7 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 | – | – | 40.8% | 39.9% | 40.6% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: IT services (indeks)
Wage index: IT services rose 4.4% in 2025; the operating margin of Mapsi AS rose 0.7 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: IT services, annual average | 84.9 | 87.8 | 92.3 | 97.3 | 101.5 | 105.4 (so far) |
| Change from the year before | +4.9% | +3.5% | +5.1% | +5.4% | +4.4% | +3.8% |
| The company's operating margin | – | – | 40.8% | 39.9% | 40.6% | – |
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
Mapsi AS had an operating margin of 40.6% and an equity ratio of 7.2% in 2025, and ranks 1,039 of 3,294 in Informasjon og kommunikasjon.
From 2024 to 2025: revenue grew by 25%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 2 MNOK and 75 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.7 | 64 MNOK |
| EV/EBIT | 14.3 | 75 MNOK |
| P/B | 2.6 | 2 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 equity ratio is very low. Could the company absorb a bad year, and does it need more equity?
Based on: Equity ratio 7.2% (median 34.3%).
- watch
Strong growth with weak liquidity. Is the growth financed, or does it tie up capital the company does not have?
Based on: Revenue growth 25.2% (median 7.9%); Current ratio 1.08 (median 1.33).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
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 4.1%. 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 | 98 | weight 30% |
|---|---|---|
| Solidity | 13 | weight 25% |
| Liquidity | 32 | weight 15% |
| Growth | 77 | weight 15% |
| Consistency | 61 | weight 15% |
Durability: 54 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Mapsi AS?
The operating margin was 40.6% in 2025, against a median of 4.8% among companies in the Morning class Small in the same sector. Return on assets was 69.6%.
How solid is Mapsi AS?
The equity ratio was 7.2% in 2025 (median 34.3%). Debt-to-equity was 12.96 (median 1.62).
What is the liquidity of Mapsi AS like?
The current ratio was 1.08 in 2025 (median 1.33).
How does Mapsi AS compare in Informasjon og kommunikasjon?
Mapsi AS ranks 1,039 of 3,294 in Informasjon og kommunikasjon for 2025. Among companies in the Morning class Small it is number 355 of 1,101. Revenue changed by 25.2% from the year before.
Group structure · 2025
57 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.
No owner holds more than half of the shares in Hawk Infinity AS.
Group accounts. Hawk Infinity AS for 2025: index 63 of 100, number 22 of 118 groups. See the group accounts
The group in figures
- Sectors
- Industri (5 companies), Handel (3 companies), Teknisk tjenesteyting og forskning (5 companies), Informasjon og kommunikasjon (9 companies), Helse og omsorg (2 companies) 24 of 57 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
- 413 in all. Drammen 94, Oslo 90, Asker 64, Kristiansand 48, Larvik 41, Sandnes 24 and 5 more municipalities Registered employees in the Central Coordinating Register, by the municipality of the business address. Employees may work elsewhere.
- Negative equity
- 2 companies: Geograf Digital AS, Friend Software Labs AS
- Loss
- 5 companies: Geograf Digital AS, Hawk Infinity AS, Friend Software Labs AS, Hih Viii AS, HC Intbio AS
- Changed 2024–2025
- 21 companies joined the group, among them: Microlog AS, Tp-Products AS, E-Motive Technology AS, Ems Ansatte AS, Emt Bidco AS, Hih X AS. 4 companies left, among them: Valued AS, EM Systemer 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.
-
Hawk Infinity AS
-
Hih i AS
- Mapsi AS you are here
- Microlog AS
- Touch Technology AS
- Semac AS
- Org. no. 828782002
- Org. no. 932892286
- Medinovo AS
- Geograf Digital AS
- Org. no. 836579062
- Org. no. 936579310
- FS Mgmt AS
- HC Intbio AS
- Hih 16 AS
- Hih 17 AS
- Hih 18 AS
- Hih 19 AS
- Hih 20 AS
- Hih IX AS
- and 11 more companies
-
The tree shows up to 4 levels below the top. Large groups have more companies than shown.
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.
- 989893432
- Legal form
- AS
- Sector
- Informasjon og kommunikasjon (62.200)
- Morning company class
- Small
- Employees
- 15 registered 10 June 2026
- Founded
- 23 May 2006 20 years in operation
- Share capital
- 0.09 MNOK
- Business address
- Grenseveien 21, 4313 SANDNES
- Municipality
- Sandnes rank 4 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- LEI
- 549300E7Q76OET8SBI96 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
- Mapsi 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.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 100.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 0%
- Group chain
-
Owned by: Hih i AS (100%)
Ultimate owner: Hawk Infinity AS
- Hih i AS · 100.0%
Change 2007–2025:
100% of the shares changed owner (1 new and 1 departed owners). The majority owner changed.
New owners (companies): Hih i AS
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 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 52 | 52 | 58 | |
| Rank | 1,363 | 1,486 | 1,039 | |
| Operating margin | 40.8% | 39.9% | 40.6% | |
| Return on assets | 77.9% | 67.8% | 69.6% | |
| Equity ratio | 10.8% | 8.9% | 7.2% | |
| Current ratio | 1.12 | 1.10 | 1.08 | |
| Revenue growth | – | 5.5% | 25.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 19.3 MNOK | 20.3 MNOK | 25.5 MNOK |
| Operating profit | 7.9 MNOK | 8.1 MNOK | 10.3 MNOK |
| Profit before tax | 7.0 MNOK | 8.3 MNOK | 10.5 MNOK |
| Tax expense | 1.7 MNOK | 1.8 MNOK | 2.3 MNOK |
| Net profit | 5.2 MNOK | 6.4 MNOK | 8.2 MNOK |
| Financial expenses | 1.0 MNOK | 0.0 MNOK | – |
| Total assets | 10.2 MNOK | 12.2 MNOK | 15.1 MNOK |
| Current assets | 10.2 MNOK | 12.2 MNOK | 15.1 MNOK |
| Equity | 1.1 MNOK | 1.1 MNOK | 1.1 MNOK |
| Retained earnings | 0.9 MNOK | 0.9 MNOK | 0.9 MNOK |
| Total liabilities | 9.1 MNOK | 11.1 MNOK | 14.0 MNOK |
| Current liabilities | 9.1 MNOK | 11.1 MNOK | 14.0 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 6346479.
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