Nettskog AS
Score · fiscal year 2025
68of 100
How to read this: the company is ahead of 85 % of companies in the Morning class Small in the same sector in 2025. What does this mean?
Rank in the Morning class Small: 211 of 1,439 · What are Morning company classes?
Place in the whole sector: 674 of 4,183 · Teknisk tjenesteyting og forskning
Profile
Lion · Leader
High profitability, high solidity
Position against comparable companies in 2025, not a verdict on the company. Based on profitability 92 and solidity 65 out of 100 among companies in the Morning class Small in the same sector in 2025. Methodology
Against the sector
Nettskog AS is 17 points above the median for companies in the Morning class Small in the same sector in 2025.
Median score 51 among 1,439 companies.
Against companies in the Morning class Small in the same sector in 2025: operating margin 25.5% (median 5.6%) and equity ratio 45.2% (median 33.2%).
The numbers behind the score
| Measure | Company | Median |
|---|---|---|
| Operating revenue | 13 MNOK | 20 MNOK |
| Operating margin | 25.5% | 5.6% |
| Profit margin | 26.5% | 5.6% |
| Return on assets | 42.2% | 13.9% |
| Equity ratio | 45.2% | 33.2% |
| Debt-to-equity | 1.21 | 1.75 |
| Current ratio | 1.82 | 1.43 |
| Revenue growth | −11.2% | 8.5% |
| Revenue per employee | 1.88 MNOK | 1.64 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 68, Nettskog AS does better than 85% of companies in the Morning class Small in the same sector (1,439 companies) in 2025.
Score 2023–2025
- Nettskog AS
- Median: companies in the Morning class Small in the same sector
Nettskog AS has a score of 68 for 2025, rank 674 of 4,183 in the sector.
Strongest: Profitability: percentile 92 against peers, operating margin 25.5% against a median of 5.6%. Consistency: percentile 76 against peers.
Weakest: Growth: percentile 15 against peers, revenue growth −11.2% against a median of 8.5%.
Worth a closer look
- What lies behind weak growth, and will it last?
- The change in operating margin in 2025 was 1.0 percentage points weaker than for comparable companies: the company −0.3, the industry +0.8 points. That is the company's own, not something that hit the whole industry.
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 Nettskog AS fell by 0.3 percentage points. Comparable companies rose by a median 0.8 points. So the company did 1.0 points weaker than the industry, for reasons of its own.
Over 2 year-to-year changes Nettskog AS moved the same way as comparable companies 1 times. About 37% 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 | 25.8% | 4.8% | −1.6 percentage points | −0.5 percentage points | −1.1 percentage points |
| 2025 | 25.5% | 5.6% | −0.3 percentage points | +0.8 percentage points | −1.0 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 Nettskog AS. The figures stand side by side; we claim no cause.
Turnover index: architectural and engineering activities (indeks (2021 = 100))
Turnover index: architectural and engineering activities rose 8.1% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: architectural and engineering activities, annual average | 99.0 | 108.8 | 127.9 | 146.4 | 158.3 | 155.2 (so far) |
| Change from the year before | +9.8% | +9.9% | +17.5% | +14.5% | +8.1% | −1.9% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: advertising and market research (indeks (2021 = 100))
Turnover index: advertising and market research rose 3.6% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: advertising and market research, annual average | 99.4 | 113.5 | 108.3 | 106.9 | 110.7 | 126.1 (so far) |
| Change from the year before | +35.1% | +14.2% | −4.6% | −1.3% | +3.6% | +13.9% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: SSB (13863, CC BY 4.0). Source
Turnover index: other professional and technical activities (indeks (2021 = 100))
Turnover index: other professional and technical activities rose 6.2% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Turnover index: other professional and technical activities, annual average | 98.3 | 121.6 | 139.4 | 131.0 | 139.1 | 158.0 (so far) |
| Change from the year before | +29.9% | +23.7% | +14.6% | −6.0% | +6.2% | +13.6% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: SSB (13863, CC BY 4.0). Source
Service prices: architects and engineering (indeks (2021 = 100))
Service prices: architects and engineering rose 3.2% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Service prices: architects and engineering, annual average | 100.0 | 103.6 | 107.5 | 111.2 | 114.7 | 119.4 (so far) |
| Change from the year before | +1.2% | +3.5% | +3.8% | +3.4% | +3.2% | +4.2% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: SSB (14335, CC BY 4.0). Source
Oil price (export price of crude oil) (kr per fat)
Oil price (export price of crude oil) fell 17.6% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Oil price (export price of crude oil), annual average | 609 | 979 | 877 | 859 | 708 | 881 (so far) |
| Change from the year before | +61.1% | +60.8% | −10.5% | −2.0% | −17.6% | +24.5% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: SSB (08799, CC BY 4.0). Source
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the operating margin of Nettskog AS fell 0.3 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 | – | – | 27.3% | 25.8% | 25.5% | – |
Source: Norges Bank (IR, NLOD 2.0). Source
EUR/NOK (kr)
EUR/NOK rose 0.8% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| EUR/NOK, annual average | 10.16 | 10.10 | 11.42 | 11.62 | 11.72 | 11.04 (so far) |
| Change from the year before | −5.2% | −0.6% | +13.1% | +1.8% | +0.8% | −5.8% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
Source: Norges Bank (EXR, NLOD 2.0). Source
Wage index: architects and engineering (indeks)
Wage index: architects and engineering rose 4.7% in 2025; the operating margin of Nettskog AS fell 0.3 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Wage index: architects and engineering, annual average | 90.5 | 90.9 | 96.0 | 100.9 | 105.6 | 109.2 (so far) |
| Change from the year before | +7.4% | +0.5% | +5.6% | +5.2% | +4.7% | +3.4% |
| The company's operating margin | – | – | 27.3% | 25.8% | 25.5% | – |
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
Nettskog AS had an operating margin of 25.5% and an equity ratio of 45.2% in 2025, and ranks 674 of 4,183 in Teknisk tjenesteyting og forskning.
From 2024 to 2025: the equity ratio rose from 34.1% to 45.2% and revenue fell by 11%.
This text is generated automatically from the 2025 accounts.
Three simple methods
The methods give between 6 MNOK and 37 MNOK.
| Method | Multiple | Estimate |
|---|---|---|
| P/E | 18.6 | 32 MNOK |
| EV/EBIT | 15.9 | 37 MNOK |
| P/B | 3.2 | 6 MNOK |
The listed basis is the value at listed multiples. The estimate is lowered by 51% for an unlisted company: 20% for lack of marketability and 38% for size (a small-company premium of 4% 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
No rules were triggered for this year.
Indications based on the latest annual accounts from open data. Not investment or financial advice.
Financial costs were 2.1% 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 2021, the sector's weakest year, for this company.
The sector's weakest year was 2021, with a median operating margin of −0.2%. 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 | 92 | weight 30% |
|---|---|---|
| Solidity | 65 | weight 25% |
| Liquidity | 70 | weight 15% |
| Growth | 15 | weight 15% |
| Consistency | 76 | weight 15% |
Durability: 67 (average over 3 years)
Index version 2. Data completeness 100%: the share of the weights that had data.
Questions and answers
How profitable is Nettskog AS?
The operating margin was 25.5% in 2025, against a median of 5.6% among companies in the Morning class Small in the same sector. Return on assets was 42.2%.
How solid is Nettskog AS?
The equity ratio was 45.2% in 2025 (median 33.2%). Debt-to-equity was 1.21 (median 1.75).
What is the liquidity of Nettskog AS like?
The current ratio was 1.82 in 2025 (median 1.43).
How does Nettskog AS compare in Teknisk tjenesteyting og forskning?
Nettskog AS ranks 674 of 4,183 in Teknisk tjenesteyting og forskning for 2025. Among companies in the Morning class Small it is number 211 of 1,439. Revenue changed by −11.2% from the year before.
Public contracts
- Contracts awarded since 2024
- 2
- in 1 notices (lots counted separately)
- Total awarded value since 2024
- value not stated
- 2 contracts without a stated value are not in the total.
| Date | Buyer | Notice | Value |
|---|---|---|---|
| 16 March 2024 | Bane NOR SF | Rammeavtale skogfaglig bistand | value not stated (2 lots) |
| 5 May 2020 | Bane NOR SF | Anskaffelse av Konsulentbistand Skogrydding | 32.0 MNOK |
| 19 May 2017 | Nye Veier | Skogtaksering E39 | 3.0 MNOK (framework) |
Based on notices in Doffin. Does not show call-offs under framework agreements or purchases below the publication threshold. Values are as stated by the buyer.
Source: Doffin (DFØ), fetched 28 October 2026. Winners are matched on organisation number.
Contains data under the Norwegian licence for public data (NLOD 2.0) made available by Doffin/the Norwegian Agency for Public and Financial Management (DFØ). NLOD 2.0
From the Central Coordinating Register
- Org. no.
- 997060393
- Legal form
- AS
- Sector
- Teknisk tjenesteyting og forskning (74.990)
- Morning company class
- Small
- Employees
- 7 registered 10 July 2025
- Founded
- 14 June 2011 15 years in operation
- Share capital
- 0.20 MNOK
- Business address
- Nymoens torg 6, 3611 KONGSBERG
- Municipality
- Kongsberg rank 4–13 of 27 in KOSTRA group 9
- Latest accounts filed
- 2025
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.
Shareholders (2025)
- Number of shareholders
- 3
- Largest owner
- 40.0%
- Split
- companies 100% · private persons 0% · foreign 0%
- Owned from the same municipality
- 60%
- E.T. SKOG & Energi AS · 40.0%
- Vika Skog AS · 40.0%
- Arufors AS · 20.0%
The company is new in the shareholder register in 2025.
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 7 November 2026.
Year by year · 2023–2025
| Key figure | 2023 | 2024 | 2025 | Trend |
|---|---|---|---|---|
| Index | 75 | 58 | 68 | |
| Rank | 561 | 1,426 | 674 | |
| Operating margin | 27.3% | 25.8% | 25.5% | |
| Return on assets | 54.3% | 39.2% | 42.2% | |
| Equity ratio | 40.0% | 34.1% | 45.2% | |
| Current ratio | 1.66 | 1.51 | 1.82 | |
| Revenue growth | – | −31.0% | −11.2% |
Accounts
From the Brønnøysund Register Centre, in the company's reporting currency (NOK).
| Key figure | 2023 | 2024 | 2025 |
|---|---|---|---|
| Operating revenue | 21.5 MNOK | 14.8 MNOK | 13.2 MNOK |
| Operating profit | 5.9 MNOK | 3.8 MNOK | 3.4 MNOK |
| Profit before tax | 6.0 MNOK | 4.1 MNOK | 3.5 MNOK |
| Tax expense | 1.3 MNOK | 0.9 MNOK | 0.8 MNOK |
| Net profit | 4.7 MNOK | 3.2 MNOK | 2.7 MNOK |
| Financial expenses | 0.0 MNOK | 0.1 MNOK | 0.1 MNOK |
| Total assets | 11.1 MNOK | 10.7 MNOK | 8.5 MNOK |
| Current assets | 11.1 MNOK | 10.6 MNOK | 8.5 MNOK |
| Equity | 4.5 MNOK | 3.6 MNOK | 3.9 MNOK |
| Retained earnings | 4.3 MNOK | 3.4 MNOK | 3.7 MNOK |
| Total liabilities | 6.7 MNOK | 7.0 MNOK | 4.7 MNOK |
| Current liabilities | 6.7 MNOK | 7.0 MNOK | 4.7 MNOK |
Source: Brønnøysund Register Centre (Register of Company Accounts), fetched 7 November 2026, accounts id 6515077.
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