Ormuz 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 32.2% Weaker than the industry Industry: 46.9%
- Returns · return on assets 0.7% Weaker than the industry Industry: 7.5%
- Solidity · equity ratio 63.0% Better than the industry Industry: 27.4%
- Liquidity · current ratio 0.03 Weaker than the industry Industry: 1.37
- Growth · revenue growth 2.2% Weaker than the industry Industry: 4.9%
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 2024
43of 100
How to read this: the company is ahead of 33 % of companies in the Morning class Micro in the same sector in 2024. What does this mean?
Rank in the Morning class Micro: 15,152 of 22,747 · What are Morning company classes?
Place in the whole sector: 19,179 of 28,605 · Eiendom
Profile
Elephant · Steward
Lower profitability, high resilience
Position against comparable companies in 2024, not a verdict on the company. Based on profitability 24 and resilience 52 out of 100 among companies in the Morning class Micro in the same sector in 2024. Methodology
Against the sector
Ormuz AS is 7 points below the median for companies in the Morning class Micro in the same sector in 2024.
Median score 50 among 22,744 companies.
Against companies in the Morning class Micro in the same sector in 2024: operating margin 32.2% (median 46.9%) and equity ratio 63.0% (median 27.4%).
How it has gone · 2023–2025
Revenue rose by 3 % from 2023 to 2025, to 1.2 MNOK. The operating margin rose from 5.2% in 2023 to 18.9% in 2025. The equity ratio rose from 62.7% in 2023 to 73.8% 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 | 1.2 MNOK | 1.2 MNOK | 1.2 MNOK |
| Operating profit | 0.1 MNOK | 0.4 MNOK | 0.2 MNOK |
| Net profit | −1.2 MNOK | −1.0 MNOK | −0.9 MNOK |
| Total assets | 59.2 MNOK | 57.4 MNOK | 57.5 MNOK |
| Equity | 37.1 MNOK | 36.1 MNOK | 42.4 MNOK |
| Total liabilities | 22.1 MNOK | 21.2 MNOK | 15.1 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.
- 995593807
- Legal form
- AS · part of a group
- Sector
- Eiendom (68.200)
- Purpose
- Investering i og drift av fast eiendom, utbygging og drift av bibliotek, å bidra til vitenskapens allmenne fremme, samt delta i virksomhet med beslektet type aktivitet til disse formål; herunder deltagelse i andre selskap.
- Morning company class
- Micro
- Employees
- 0–4 (not registered)
- Founded
- 31 May 2010 16 years in operation
- Share capital
- 1.00 MNOK
- Business address
- Blombakken 14, 3296 NEVLUNGHAVN (LARVIK)
- Municipality
- Larvik rank 4 of 10 in KOSTRA group 11
- Latest accounts filed
- 2025
- VAT registered
- No
- Website
- www.immobiliare.no
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
Consider strengthening liquidity: current liabilities are 35.3 times current assets.
Based on: Current ratio 0.03 (median 1.37).
- 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) 0.3 (median 1.6); Financial costs as a share of debt 6.4% (median 5.2%).
- watch
The company made a loss before tax. Are these one-off items or a pattern?
Based on: Profit margin −81.5% (median 21.7%).
- 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 −389.5% (median −12.9%); Current ratio 0.03 (median 1.37).
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 6.4% of the debt in 2024. The policy rate averaged 4.50 % 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 2022, the sector's weakest year, for this company.
The sector's weakest year was 2022, with a median operating margin of 15.0%. 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 | 24 | weight 40% |
|---|---|---|
| Solidity | 76 | weight 20% |
| Liquidity | 4 | weight 5% |
| Growth | 60 | weight 25% |
| Consistency | 29 | weight 10% |
Three goals: profitability 40%, growth 25%, resilience 35%. Why these weights?
Durability: 39 (average over 2 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 | 1 MNOK | 2 MNOK |
| Operating margin | 32.2% | 46.9% |
| Profit margin | −81.5% | 21.7% |
| Return on assets | 0.7% | 7.5% |
| Equity ratio | 63.0% | 27.4% |
| Debt-to-equity | 0.59 | 2.14 |
| Current ratio | 0.03 | 1.37 |
| Revenue growth | 2.2% | 4.9% |
The median and “ahead of” refer to companies in the Morning class Micro in the same sector in 2024. The bar shows the share of companies the figure is ahead of.
With an index of 43, Ormuz AS does better than 33% of companies in the Morning class Micro in the same sector (22,747 companies) in 2024.
Score 2023–2025
- Ormuz 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. |
– | 44 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. |
−389.5% | −12.9% | |
| Cash share of current assets How much of the short-term buffer is bank deposits and cash. |
100.0% | 53.5% | |
| 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. |
0.3 | 1.6 | |
| 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. |
6.4% | 5.2% | |
| Long-term share of debt Long-term debt as a share of all debt. A low share means more falls due within a year. |
78.1% | 83.2% | |
Net working capital (current assets less bank deposits less current liabilities): −4.6 MNOK.
Of the financial costs of 1.4 MNOK, 1.4 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 2024. 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.
What the numbers say
Ormuz AS had an operating margin of 32.2% and an equity ratio of 63.0% in 2024, and ranks 19,179 of 28,605 in Eiendom.
From 2023 to 2024: the operating margin rose from 5.2% to 32.2%.
This text is generated automatically from the 2024 accounts.
Three simple methods
Suggested price: about 16 MNOK
The mean of the 1 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. Fewer than three methods gave a figure, so the mean is weaker than it looks.
That is about 8,000 NOK per share, on 2,000 shares in the shareholder register.
One method gives a figure: 16 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 10.5 | not meaningful |
| EV/EBIT | 19.2 | debt above value |
| P/B | 0.7 | 16 MNOK |
| EV/EBIT: from enterprise value to equity | NOK |
|---|---|
| Enterprise value (EV) at the listed multiple | 4 MNOK |
| Enterprise value after the size adjustment | 3 MNOK |
| Less net debt (rough figure) | 16 MNOK |
| Equity value | debt above value |
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. Net debt is 626% of the enterprise value after the size adjustment, so the equity value from EV/EBIT is sensitive to errors in the debt figure.
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
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
- 7.2 MNOK came into equity beyond the result in 2025.
Calculated as equity at the start of the year + net result − equity at the end of the year. What remains is dividends and group contributions, less new capital, plus other entries made directly to equity. It is not a dividend figure. - Owners and leadership aged 60 or older
- Several signs that a generation change may be coming.
- The chair is 60 or older.
- The managing director is 60 or older.
- 1 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 Ormuz AS?
The operating margin was 32.2% in 2024, against a median of 46.9% among companies in the Morning class Micro in the same sector. Return on assets was 0.7%. The company made a loss before tax.
How solid is Ormuz AS?
The equity ratio was 63.0% in 2024 (median 27.4%). Debt-to-equity was 0.59 (median 2.14).
What is the liquidity of Ormuz AS like?
The current ratio was 0.03 in 2024 (median 1.37). Current assets did not cover current liabilities.
How does Ormuz AS compare in Eiendom?
Ormuz AS ranks 19,179 of 28,605 in Eiendom for 2024. Among companies in the Morning class Micro it is number 15,152 of 22,747. Revenue changed by 2.2% from the year before.
Group accounts
The company is registered as part of a group, but we have no group accounts for it. Group accounts are filed by the parent company, and open data does not say which company that is.
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.
The shareholder register shows no Norwegian majority owner and no subsidiaries for this company.
Ownership and roles
Loading roles …
Source: Central Coordinating Register, fetched 8 November 2026. Only names are shown.
Shareholders (2025)
- Number of shareholders
- 1 (one owner)
- Largest owner
- 50.0%
- Split
- companies 50% · private persons 0% · foreign 0%
- Owned from the same municipality
- 100%
- Immobiliare AS · 100.0%
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.
Is this your company? Suggest changes or add information
Figures last fetched 10 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 35 | 43 | 36 | |
| Rank | 20,667 | 19,179 | 24,019 | |
| Operating margin | 5.2% | 32.2% | 18.9% | |
| Return on assets | 0.1% | 0.7% | 0.4% | |
| Equity ratio | 62.7% | 63.0% | 73.8% | |
| Current ratio | 0.41 | 0.03 | – | |
| Revenue growth | – | 2.2% | 1.0% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 1.2 MNOK | 1.2 MNOK | 1.2 MNOK |
| Operating profit | 0.1 MNOK | 0.4 MNOK | 0.2 MNOK |
| Profit before tax | −1.2 MNOK | −1.0 MNOK | −0.9 MNOK |
| Tax expense | 0.0 MNOK | 0.0 MNOK | 0.0 MNOK |
| Net profit | −1.2 MNOK | −1.0 MNOK | −0.9 MNOK |
| Financial expenses | 1.3 MNOK | 1.4 MNOK | 1.2 MNOK |
| Total assets | 59.2 MNOK | 57.4 MNOK | 57.5 MNOK |
| Current assets | 1.7 MNOK | 0.1 MNOK | 0.3 MNOK |
| Equity | 37.1 MNOK | 36.1 MNOK | 42.4 MNOK |
| Retained earnings | – | – | – |
| Total liabilities | 22.1 MNOK | 21.2 MNOK | 15.1 MNOK |
| Current liabilities | 4.0 MNOK | 4.6 MNOK | – |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 10 November 2026, accounts id 5917901.
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