Wavetrain Systems AS
Score · fiscal year 2025
26of 100
How to read this: the company is ahead of 13 % of companies in the Morning class Micro in the same sector in 2025. What does this mean?
Rank in the Morning class Micro: 1,090 of 1,247 · What are Morning company classes?
Place in the whole sector: 2,806 of 3,133 · Informasjon og kommunikasjon
Profile
Elephant · Steward
Lower profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 9 and solidity 61 out of 100 among companies in the Morning class Micro in the same sector in 2025. Methodology
Against the sector
Wavetrain Systems AS is 23 points below the median for companies in the Morning class Micro in the same sector in 2025.
Median score 49 among 1,245 companies.
Against companies in the Morning class Micro in the same sector in 2025: operating margin −2,435.3% (median 4.2%) and equity ratio 57.9% (median 38.1%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 1 MNOK | 3 MNOK |
| Operating margin | −2,435.3% | 4.2% |
| Profit margin | −2,692.9% | 4.0% |
| Return on assets | −22.6% | 9.4% |
| Equity ratio | 57.9% | 38.1% |
| Debt-to-equity | 0.73 | 1.05 |
| Current ratio | 0.35 | 1.51 |
| Revenue growth | – | 6.1% |
| Revenue per employee | 0.06 MNOK | 0.63 MNOK |
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 26, Wavetrain Systems AS does better than 13% of companies in the Morning class Micro in the same sector (1,247 companies) in 2025.
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.
Wavetrain Systems AS has a score of 26 for 2025, rank 2,806 of 3,133 in the sector.
Strongest: Solidity: percentile 61 against peers, equity ratio 57.9% against a median of 38.1%.
Weakest: Liquidity: percentile 7 against peers, current ratio 0.35 against a median of 1.51. Profitability: percentile 9 against peers, operating margin −2,435.3% against a median of 4.2%.
Worth a closer look
- Consider strengthening liquidity: current liabilities are 2.8 times current assets. Based on: current ratio 0.35 (median 1.51).
- The company made a loss before tax. Are these one-off items or a pattern? Based on: profit margin −2,692.9% (median 4.0%).
- The operating margin is lower than at three in four companies in the sector. Where do costs differ from competitors? Based on: operating margin −2,435.3% (median 4.2%).
- What lies behind weak profitability, 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?
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 Wavetrain Systems AS. The figures stand side by side; we claim no cause.
Service prices: information and communication (indeks (2021 = 100))
| 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 | – | – | – | – | −2,435.3% | – |
Source: SSB (14335, CC BY 4.0). Source
Turnover index: information and communication (indeks (2021 = 100))
| 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 | – | – | – | – | −2,435.3% | – |
Source: SSB (13863, CC BY 4.0). Source
USD/NOK (kr)
| 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 | – | – | – | – | −2,435.3% | – |
Source: Norges Bank (EXR, NLOD 2.0). 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 | – | – | – | – | −2,435.3% | – |
Source: Norges Bank (IR, NLOD 2.0). 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 | 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 | – | – | – | – | −2,435.3% | – |
Source: SSB (14710, CC BY 4.0). Source
Wage index: IT services (indeks)
| 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 | – | – | – | – | −2,435.3% | – |
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
Wavetrain Systems AS had an operating margin of −2,435.3% and an equity ratio of 57.9% in 2025, and ranks 2,806 of 3,133 in Informasjon og kommunikasjon.
No large changes in the key figures from 2024 to 2025.
This text is generated automatically from the 2025 accounts.
Three simple methods
One method gives a figure: 94 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 17.7 | not meaningful |
| EV/EBIT | 14.3 | not meaningful |
| P/B | 2.6 | 94 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
- critical
Consider strengthening liquidity: current liabilities are 2.8 times current assets.
Based on: Current ratio 0.35 (median 1.51).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −2,692.9% (median 4.0%).
- 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 −2,435.3% (median 4.2%).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 5.8% 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 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 | 9 | weight 30% |
|---|---|---|
| Solidity | 61 | weight 25% |
| Liquidity | 7 | weight 15% |
| Growth | – | no data, left out |
| Consistency | 21 | weight 15% |
Index version 2. Data completeness 85%: the share of the weights that had data.
Questions and answers
How profitable is Wavetrain Systems AS?
The operating margin was −2,435.3% in 2025, against a median of 4.2% among companies in the Morning class Micro in the same sector. Return on assets was −22.6%. The company made a loss before tax.
How solid is Wavetrain Systems AS?
The equity ratio was 57.9% in 2025 (median 38.1%). Debt-to-equity was 0.73 (median 1.05).
What is the liquidity of Wavetrain Systems AS like?
The current ratio was 0.35 in 2025 (median 1.51). Current assets did not cover current liabilities.
How does Wavetrain Systems AS compare in Informasjon og kommunikasjon?
Wavetrain Systems AS ranks 2,806 of 3,133 in Informasjon og kommunikasjon for 2025. Among companies in the Morning class Micro it is number 1,090 of 1,247.
From the Central Coordinating Register
- Org. no.
- 994483404
- Legal form
- AS
- Sector
- Informasjon og kommunikasjon (62.100)
- Morning company class
- Micro
- Employees
- 17 registered 10 April 2026
- Founded
- 21 August 2009 17 years in operation
- Share capital
- 52.56 MNOK
- Business address
- Strandveien 55, 1366 LYSAKER (BÆRUM)
- Municipality
- Bærum rank 1 of 11 in KOSTRA group 12
- Latest accounts filed
- 2025
- Website
- www.wavetrain.no
- LEI
- 549300M1NIL4W5WXVL71 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
- 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
- 32
- Largest owner
- 18.8% · top three 22.7%
- Split
- companies 25% · private persons 0% · foreign 0%
- Owners over 60
- 80% of the shares held by persons (median age 75)
- Nordic Technology Group AS · 75.2%
- S. Munkhaugen AS · 13.5%
- Ljm AS · 2.3%
- Skips AS TUDOR · 1.8%
- Moger Invest AS · 1.1%
- Jaksland Invest AS · 1.0%
- C-Holding AS · 0.6%
- Petrock II AS · 0.5%
- Skarveranden AS · 0.3%
- Lucellum AS · 0.3%
- 8 private persons · 0.3%
The company is new in the shareholder register in 2025.
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.
Figures last fetched 5 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | – | – | 26 | |
| Rank | – | – | 2,806 | |
| Operating margin | – | – | −2,435.3% | |
| Return on assets | −28.3% | −24.0% | −22.6% | |
| Equity ratio | 64.2% | 62.5% | 57.9% | |
| Current ratio | 0.21 | 0.34 | 0.35 | |
| Revenue growth | – | – | – |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | – | – | 1.1 MNOK |
| Operating profit | −23.4 MNOK | −22.8 MNOK | −25.8 MNOK |
| Profit before tax | −24.5 MNOK | −24.6 MNOK | −28.6 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −24.5 MNOK | −24.6 MNOK | −28.6 MNOK |
| Financial expenses | 1.1 MNOK | 1.8 MNOK | 2.8 MNOK |
| Total assets | 82.5 MNOK | 95.0 MNOK | 114.1 MNOK |
| Current assets | 5.5 MNOK | 7.8 MNOK | 12.4 MNOK |
| Equity | 53.0 MNOK | 59.4 MNOK | 66.1 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 29.6 MNOK | 35.6 MNOK | 48.0 MNOK |
| Current liabilities | 26.2 MNOK | 23.0 MNOK | 34.9 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 5 November 2026, accounts id 7157521.
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