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Kraft og energi ranking 2025

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Benchmarks · fiscal year 2025

Quartiles among the 878 ranked companies, all sizes. Half of them lie between the lower and upper quartile.

Key figureLower quartileMedianUpper quartile
Operating margin−6.0%15.7%39.7%
Profit margin−19.4%10.1%39.0%
Return on assets0.6%5.3%9.8%
Equity ratio18.6%39.3%62.5%
Debt-to-equity0.551.413.25
Current ratio0.871.503.05
Revenue growth−10.1%4.4%20.8%

Ranked per Morning company class: Micro: 448 · Small: 176 · Medium: 193 · Large: 61. Morning company classes by revenue: Micro 1–10 MNOK, Small 10 MNOK–50 MNOK, Medium 50 MNOK–500 MNOK, Large from 500 MNOK. Methodology

Distribution of the overall index · 2025

092184Index 0–10: 7 companies70Index 10–20: 27 companies2710Index 20–30: 65 companies6520Index 30–40: 157 companies15730Index 40–50: 184 companies18440Index 50–60: 182 companies18250Index 60–70: 167 companies16760Index 70–80: 79 companies7970Index 80–90: 9 companies980Index 90–100: 1 companies190100Index →

Best in each category · 2025

Operating marginMidt-Telemark Kraft AS98.1%
Return on assetsTocircle Productions AS99.6%
Equity ratioFinnmark Kraft AS99.2%
Current ratioCHR SALVESEN & CHR THAMS'S COMMUNICATIONS AKTIESELSKAB15.60
Revenue growthForte Vannkraft AS687.4%

Among ranked companies with at least NOK 10m in revenue. Margins and equity ratios above 100 %, a current ratio above 20 and growth from a base below NOK 10m count as one-off effects and are left out.

Ranking · 2025

Morning Enterprise Index 0–100, version 2: every key figure is compared with companies in the same sector and size tier. Click a column heading to sort.

Rank Company Class Index Operating margin Equity ratio Current ratio Revenue growth Revenue
1 Kirkesundet Kraft AS Smallno. 1 in the class 90 68.1% 94.2% 20.44 127.4% 27 MNOK
2 Skagerak Kraft ASsubsidiary of Skagerak Energi AS Largeno. 1 in the class 86 77.8% 60.6% 1.75 22.8% 4,767 MNOK
3 Helganes Kraft AS Microno. 1 in the class 86 62.7% 88.9% 4.94 14.0% 6 MNOK
4 Vindedal Kraftverk AS Microno. 2 in the class 86 47.6% 92.3% 7.63 31.5% 9 MNOK
5 Oslo Lysverker AS Mediumno. 1 in the class 85 63.4% 66.9% 2.74 34.1% 129 MNOK
6 Smievoll Kraft AS Microno. 3 in the class 84 62.3% 88.5% 3.80 25.3% 3 MNOK
7 Sarp Kraftstasjon AS Mediumno. 2 in the class 84 73.2% 64.5% 1.72 32.3% 175 MNOK
8 Nape Kraft AS Microno. 4 in the class 82 69.8% 76.9% 2.28 32.8% 7 MNOK
9 Aktieselskabet Saudefaldene Largeno. 2 in the class 81 57.9% 64.6% 1.50 22.6% 1,376 MNOK
10 Ren Røros Strøm ASsubsidiary of Ren Røros AS Mediumno. 3 in the class 80 50.6% 64.3% 1.37 27.5% 106 MNOK
11 Østerdalen Kraftproduksjon ASsubsidiary of Elverum Energi AS Mediumno. 4 in the class 80 69.9% 67.5% 1.14 49.0% 163 MNOK
12 Tinfos AS Mediumno. 5 in the class 80 36.1% 69.6% 6.87 7.3% 223 MNOK
13 Lundsfoss Kraftstasjon AS Microno. 5 in the class 79 63.1% 87.5% 4.02 −2.5% 2 MNOK
14 Fossåno Kraftverk AS Microno. 6 in the class 79 62.0% 79.3% 2.07 12.5% 4 MNOK
15 Scalar Energy AS Smallno. 2 in the class 79 50.6% 48.2% 5.06 163.0% 15 MNOK
16 Jotun Kraftproduksjon AS Smallno. 3 in the class 79 68.6% 84.5% 5.94 −8.7% 18 MNOK
17 Linjepartner Holding AS Microno. 7 in the class 78 65.7% 88.7% 0.62 192.2% 3 MNOK
18 Grøndalselva Kraft AS Microno. 8 in the class 78 57.1% 77.9% 2.14 51.1% 8 MNOK
19 Svatsum Elektrisitetsverk AS Microno. 9 in the class 78 51.0% 60.0% 3.43 83.7% 9 MNOK
20 Kylland Kraft AS Microno. 10 in the class 78 54.0% 93.8% 2.71 2.6% 3 MNOK
21 Kittilsviken Kraftverk AS Microno. 11 in the class 78 43.3% 89.3% 4.41 5.6% 3 MNOK
22 Sage Kraftverk AS Smallno. 4 in the class 78 61.6% 77.6% 1.26 37.1% 21 MNOK
23 Lauvlielva Kraft AS Microno. 12 in the class 78 70.3% 54.9% 2.33 51.8% 3 MNOK
24 Rosendal Elektrisitetsverk AS Microno. 13 in the class 78 55.7% 70.9% 2.66 60.9% 3 MNOK
25 Skrudsarkraft AS Microno. 14 in the class 77 54.1% 70.8% 2.57 14.3% 2 MNOK
26 Mydland Kraftverk AS Microno. 15 in the class 77 13.2% 88.5% 5.08 12.4% 1 MNOK
27 Hafslund Produksjon AS Largeno. 3 in the class 77 88.0% 54.4% 0.96 29.8% 2,207 MNOK
28 Forte Vannkraft AS Mediumno. 6 in the class 77 48.2% 54.5% 4.88 687.4% 124 MNOK
29 Leikanger Kraft AS Mediumno. 7 in the class 77 64.3% 52.7% 2.45 48.2% 125 MNOK
30 Horpedal Kraft AS Microno. 16 in the class 77 42.8% 78.2% 1.92 29.0% 7 MNOK
31 Alut AS Mediumno. 8 in the class 76 33.9% 89.6% 3.35 3.4% 137 MNOK
32 Fjellanger Kraftverk AS Microno. 17 in the class 76 33.5% 67.0% 3.95 25.6% 2 MNOK
33 Norsk Vind AS Smallno. 5 in the class 76 4.8% 91.5% 10.31 23.8% 18 MNOK
34 Tyssekraft AS Microno. 18 in the class 76 93.7% 49.9% 4.17 49.4% 3 MNOK
35 Vrådal Kraft AS Microno. 19 in the class 76 62.9% 67.7% 3.98 6.9% 4 MNOK
36 Nørståe Kraft AS Microno. 20 in the class 76 59.6% 79.6% 1.90 32.5% 3 MNOK
37 Hydro Energi AS Largeno. 4 in the class 76 30.1% 80.6% 1.51 10.5% 11,510 MNOK
38 Hovuduk Kraftverk AS Microno. 21 in the class 75 40.6% 70.0% 1.91 38.9% 1 MNOK
39 Løa Kraftverk AS Microno. 22 in the class 75 39.9% 76.0% 2.13 103.5% 1 MNOK
40 Lista Vindkraftverk AS Mediumno. 9 in the class 75 52.8% 63.2% 1.94 6.2% 133 MNOK
41 Stølskraft AS Microno. 23 in the class 75 70.0% 75.4% 0.92 107.3% 5 MNOK
42 Arendals Fossekompani ASA Mediumno. 10 in the class 75 45.7% 85.3% 3.31 −0.3% 376 MNOK
43 Nordvest Nett AS Mediumno. 11 in the class 75 36.8% 58.5% 1.47 21.1% 207 MNOK
44 Hurum Energi AS Smallno. 6 in the class 75 43.2% 87.0% 1.51 66.8% 13 MNOK
45 Tveiteåno Kraftverk AS Microno. 24 in the class 75 45.9% 89.0% 1.70 2.7% 4 MNOK
46 Nito AS Microno. 25 in the class 75 62.9% 80.4% 2.29 −2.6% 5 MNOK
47 Vik Kraft AS Microno. 26 in the class 75 39.8% 71.7% 3.23 9.7% 3 MNOK
48 Bredesen Opset Solar AS Microno. 27 in the class 75 28.4% 73.0% 3.71 9.3% 1 MNOK
49 Kvinnherad Energi AS Smallno. 7 in the class 74 64.4% 53.2% 3.62 17.7% 21 MNOK
50 Svanedal AS Microno. 28 in the class 74 25.0% 90.9% 5.36 13.0% 5 MNOK

Bankrupt or being wound up

These companies are left out of the ranking.

About the figures

  • Only limited companies (AS and ASA) are included. Sole proprietorships are normally not required to file annual accounts and are therefore missing.
  • The Brønnøysund Register Centre only checks that accounts are filed, not their content. Suspicious figures are flagged on the company page, not hidden.
  • Figures are company accounts, not group accounts. Holding companies can be marked in admin and then do not count in sector averages.