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Sector

Eiendom

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60 companies ranked against comparable companies in four Morning company classes. Fiscal year 2022. Source: Brønnøysund Register Centre. Methodology

Ranking · 2022 · Morning class Large

No ranked companies in this class this year.

The rank is the rank in the class. A class with fewer than ten companies is compared with the whole sector. Full ranking · Press mode

Biggest moves · Morning class Large

Climbers and fallers need at least two fiscal years with a score. Coming when next year's figures are fetched.

Top lists in the sector · 2022 · Morning class Large

The five largest companies account for 42% of the sector's revenue. Combined profit before tax for the 60 ranked companies: −88 MNOK.

Highest revenue

  1. Eiendomsgruppen Trondheim AS 103 MNOK
  2. Balanse Hus AS 76 MNOK
  3. Kreativ Eiendomsutvikling AS 67 MNOK
  4. OSLO BYGG OG EIENDOM, Eiendom AS 59 MNOK
  5. Bolig og Byggutvikling AS 42 MNOK

Operating revenue.

Highest operating margin

  1. HJ Eiendom AS 97.2%
  2. Viken Boligeiendom AS 94.0%
  3. Gjønnesjordet 10 AS 88.9%
  4. Rambolt Eiendom AS 81.8%
  5. Herock AS 79.7%

Operating result divided by operating revenue.

Largest profit

  1. Marinella Eiendom AS 8 MNOK
  2. Rambolt Eiendom AS 7 MNOK
  3. Eiendomsgruppen Trondheim AS 6 MNOK
  4. Haakon Knudstad AS 5 MNOK
  5. Roh Holding AS 4 MNOK

Profit before tax.

Largest loss

  1. Sennerudtoppen Bolig AS −109 MNOK
  2. Sofienberg Gruppen AS −11 MNOK
  3. OSLO BYGG OG EIENDOM, Eiendom AS −9 MNOK
  4. Nesbruveien 73-77 AS −6 MNOK
  5. Godeland Boligutvikling AS −4 MNOK

Profit before tax, the largest negative.

Most solid

  1. Minde Alle 39 AS 89.4%
  2. Herock AS 89.0%
  3. C-S Holding AS 88.4%
  4. Sv22h AS 86.8%
  5. Icon Takst AS 81.0%

Equity ratio: equity divided by total assets.

Fastest growth

No company meets the requirement this year.

Revenue growth from the year before, only from at least NOK 10 million in revenue.

Largest revenue decline

No company meets the requirement this year.

Revenue decline from the year before, only from at least NOK 10 million in revenue.

Biggest climbers

Requires an index for two financial years.

Change in index points from the year before.

Biggest fallers

Requires an index for two financial years.

Change in index points from the year before.

Most employees

No company meets the requirement this year.

Employees according to the Central Coordinating Register.

Highest revenue per employee

No company meets the requirement this year.

Only companies with at least 5 employees.

The lists cover ranked companies in the class: operating companies with at least NOK 1m in revenue, without holding companies and excluded ones. Size lists (revenue, profit, employees) count each group once. Source: Brønnøysund Register Centre. Amounts in other currencies are converted at Norges Bank's rates.

Quadrant analysis

Positions in the sector · 2022 · Morning class Large

Each company is placed by profitability and solidity, measured as a place from 0 to 100 against the others in the same sector and Morning company class. The bubble shows revenue. Hover over or tap a bubble for the figures, filter by profile or search for a company.

Too few ranked companies to draw the map.

The sector in numbers

Summary · fiscal year 2022

The sector's median operating margin is 31.1%. 106 of 343 companies have negative equity. The median equity ratio is 10.4%.

Companies with accounts343
Total revenue1,290 MNOK
Median operating margin31.1%
Median equity ratio10.4%
Share with a loss61%
Share with negative equity31%

All figures are for fiscal year 2022. Ranked: 60 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

  • Growth is not included in the index: it needs the previous year's accounts.

Climbers and fallers

Climbers need at least two fiscal years. They appear once next year's accounts are fetched or history is imported.

Awards · 2022

Most profitableHJ Eiendom AS97.2%
Strongest balance sheetMinde Alle 39 AS89.4%
Largest revenueEiendomsgruppen Trondheim AS103 MNOK

Needs attention · 2022

279 companies show at least one warning sign. Showing the 15 most important.

  • criticalBkb Bolig ASNegative equity · Current ratio below 1 (0.57) · Loss before tax
  • criticalEiendom i Fokus ASNegative equity · Current ratio below 1 (0.78) · Loss before tax
  • criticalSennerudtoppen Bolig ASNegative equity · Current ratio below 1 (0.58) · Loss before tax
  • criticalNesbruveien 73-77 ASNegative equity · Current ratio below 1 (0.51) · Loss before tax
  • criticalCavalli ASNegative equity · Current ratio below 1 (0.86) · Loss before tax
  • criticalOslo International Hub ASNegative equity · Current ratio below 1 (0.57) · Loss before tax
  • criticalPR Holding ASNegative equity · Current ratio below 1 (0.59) · Loss before tax
  • criticalKrismarine ASNegative equity · Current ratio below 1 (0.03) · Loss before tax
  • criticalNyborg Eiendom ASNegative equity · Current ratio below 1 (0.12) · Loss before tax
  • criticalØvingslokaler i Bergen ASNegative equity · Current ratio below 1 (0.25) · Loss before tax
  • criticalBjørnsen Eiendom ASNegative equity · Current ratio below 1 (0.25) · Loss before tax
  • criticalNorlandet Eiendom ASNegative equity · Current ratio below 1 (0.16) · Loss before tax
  • criticalJbg 13 ASNegative equity · Current ratio below 1 (0.32) · Loss before tax
  • criticalLa Nordhaug Holding ASNegative equity · Current ratio below 1 (0.02) · Loss before tax
  • criticalHopsgaarden ASNegative equity · Current ratio below 1 (0.91) · Loss before tax

Sector map · 2022

Profitability against solidity for the ranked companies. Size shows revenue. Coral triangle: negative equity. Click to open the company. Outliers are placed on the edge.

−150%−100%−50%0%50%−150%−100%−50%0%50%Operating margin (profitability) →Equity ratio (solidity) →Eiendomsgruppen Trondheim AS: operating margin 5.9%, equity ratio 17.9%, rank 36Balanse Hus AS: operating margin 0.8%, equity ratio 15.1%, rank 29Kreativ Eiendomsutvikling AS: operating margin 10.3%, equity ratio 10.0%, rank 31OSLO BYGG OG EIENDOM, Eiendom AS: operating margin −13.0%, equity ratio 8.2%, rank 33Bolig og Byggutvikling AS: operating margin 1.2%, equity ratio −3.1%, rank 49Sennerudtoppen Bolig AS: operating margin −148.3%, equity ratio −164.6%, rank 59Pro Bolig AS: operating margin 12.8%, equity ratio 24.7%, rank 16Kongsgård Park AS: operating margin 1.7%, equity ratio 16.7%, rank 26Marinella Eiendom AS: operating margin 70.1%, equity ratio 44.8%, rank 11Nesbruveien 73-77 AS: operating margin −1.0%, equity ratio −18.5%, rank 56Stugudal Eiendom AS: operating margin 14.6%, equity ratio 44.4%, rank 17Lysaker Torg Centre AS: operating margin −22.5%, equity ratio −23.3%, rank 54Karenslyst Alle 53 Business Centre AS: operating margin −19.3%, equity ratio 8.8%, rank 50Rambolt Eiendom AS: operating margin 81.8%, equity ratio 74.1%, rank 3Roh Holding AS: operating margin 60.5%, equity ratio 21.3%, rank 13Haakon Knudstad AS: operating margin 70.8%, equity ratio 71.6%, rank 1Munkholmen Eiendom AS: operating margin 23.4%, equity ratio 16.7%, rank 41Westbo AS: operating margin 64.2%, equity ratio 5.4%, rank 27Minde Alle 39 AS: operating margin 21.0%, equity ratio 89.4%, rank 4Viken Boligeiendom AS: operating margin 94.0%, equity ratio 10.0%, rank 19Flik Eiendom AS: operating margin 15.8%, equity ratio 6.3%, rank 38Skolegata 14-16 AS: operating margin 61.3%, equity ratio 3.6%, rank 37Onsrud Næringspark AS: operating margin 16.8%, equity ratio 3.7%, rank 45Orkla Takst AS: operating margin 1.4%, equity ratio −33.4%, rank 52Huitfeldts Gate 15 AS: operating margin 77.3%, equity ratio 6.3%, rank 28Efem Group AS: operating margin 31.2%, equity ratio 32.0%, rank 12Nim Eiendom AS: operating margin 5.4%, equity ratio 5.2%, rank 46Auka Gruppen AS: operating margin 35.1%, equity ratio 26.3%, rank 39Jkef Eiendom AS: operating margin 53.8%, equity ratio −11.3%, rank 30Gullregnbukta AS: operating margin 71.5%, equity ratio 4.9%, rank 22Tonjen Eigedom AS: operating margin 41.2%, equity ratio 30.2%, rank 15Eikenga 25 AS: operating margin 33.1%, equity ratio 19.5%, rank 23Cesars Eiendom AS: operating margin 35.8%, equity ratio 10.8%, rank 25Nyborg Eiendom AS: operating margin −35.7%, equity ratio −9.0%, rank 58Sangnes Eiendom AS: operating margin 66.7%, equity ratio 47.2%, rank 8Storgata 3 og 5 AS: operating margin 65.5%, equity ratio 13.5%, rank 21Larsens Takst Service AS: operating margin 38.7%, equity ratio 64.0%, rank 5Icon Takst AS: operating margin 1.7%, equity ratio 81.0%, rank 18Svg 1 AS: operating margin 32.9%, equity ratio 0.3%, rank 48Telemark Eiendom AS: operating margin 51.0%, equity ratio 38.6%, rank 10Sofienberg Gruppen AS: operating margin −510.0%, equity ratio −343.7%, rank 57Herock AS: operating margin 79.7%, equity ratio 89.0%, rank 14Mathuset AS: operating margin 53.3%, equity ratio −19.9%, rank 44Godeland Boligutvikling AS: operating margin −69.1%, equity ratio −4.7%, rank 53Øvingslokaler i Bergen AS: operating margin −81.5%, equity ratio −223.8%, rank 60Salix AS: operating margin −159.5%, equity ratio 59.5%, rank 32C-S Holding AS: operating margin 27.6%, equity ratio 88.4%, rank 9Fonc Boligutleie 1 AS: operating margin 66.3%, equity ratio 2.7%, rank 40Sv22h AS: operating margin 8.7%, equity ratio 86.8%, rank 6Mbe Eiendom AS: operating margin 31.0%, equity ratio 3.8%, rank 47Bains Eiendom AS: operating margin 62.7%, equity ratio 5.0%, rank 43Solberg Eiendom og Utleie AS: operating margin 42.5%, equity ratio 35.0%, rank 20Haltbakk Eiendom AS: operating margin 52.1%, equity ratio 9.3%, rank 24HJ Eiendom AS: operating margin 97.2%, equity ratio 40.8%, rank 2Bjørnsen Eiendom AS: operating margin 11.2%, equity ratio −41.4%, rank 55Gjønnesjordet 10 AS: operating margin 88.9%, equity ratio 0.5%, rank 35Østtorp Eiendom AS: operating margin 72.7%, equity ratio 21.3%, rank 34Bogstadveien 64 AS: operating margin −47.8%, equity ratio 0.6%, rank 51Felleskjerningen Eiendom AS: operating margin 9.5%, equity ratio 11.2%, rank 42Inventec AS: operating margin 70.1%, equity ratio 56.2%, rank 7
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Haakon Knudstad AS70.8%71.6%7 MNOK
HJ Eiendom AS97.2%40.8%1 MNOK
Rambolt Eiendom AS81.8%74.1%9 MNOK
Minde Alle 39 AS21.0%89.4%5 MNOK
Larsens Takst Service AS38.7%64.0%3 MNOK
Sv22h AS8.7%86.8%2 MNOK
Inventec AS70.1%56.2%1 MNOK
Sangnes Eiendom AS66.7%47.2%3 MNOK
C-S Holding AS27.6%88.4%2 MNOK
Telemark Eiendom AS51.0%38.6%2 MNOK
Marinella Eiendom AS70.1%44.8%13 MNOK
Efem Group AS31.2%32.0%4 MNOK
Roh Holding AS60.5%21.3%8 MNOK
Herock AS79.7%89.0%2 MNOK
Tonjen Eigedom AS41.2%30.2%3 MNOK
Pro Bolig AS12.8%24.7%33 MNOK
Stugudal Eiendom AS14.6%44.4%11 MNOK
Icon Takst AS1.7%81.0%3 MNOK
Viken Boligeiendom AS94.0%10.0%5 MNOK
Solberg Eiendom og Utleie AS42.5%35.0%2 MNOK
Storgata 3 og 5 AS65.5%13.5%3 MNOK
Gullregnbukta AS71.5%4.9%3 MNOK
Eikenga 25 AS33.1%19.5%3 MNOK
Haltbakk Eiendom AS52.1%9.3%1 MNOK
Cesars Eiendom AS35.8%10.8%3 MNOK
Kongsgård Park AS1.7%16.7%16 MNOK
Westbo AS64.2%5.4%6 MNOK
Huitfeldts Gate 15 AS77.3%6.3%4 MNOK
Balanse Hus AS0.8%15.1%76 MNOK
Jkef Eiendom AS53.8%−11.3%3 MNOK
Kreativ Eiendomsutvikling AS10.3%10.0%67 MNOK
Salix AS−159.5%59.5%2 MNOK
OSLO BYGG OG EIENDOM, Eiendom AS−13.0%8.2%59 MNOK
Østtorp Eiendom AS72.7%21.3%1 MNOK
Gjønnesjordet 10 AS88.9%0.5%1 MNOK
Eiendomsgruppen Trondheim AS5.9%17.9%103 MNOK
Skolegata 14-16 AS61.3%3.6%4 MNOK
Flik Eiendom AS15.8%6.3%5 MNOK
Auka Gruppen AS35.1%26.3%3 MNOK
Fonc Boligutleie 1 AS66.3%2.7%2 MNOK
Munkholmen Eiendom AS23.4%16.7%6 MNOK
Felleskjerningen Eiendom AS9.5%11.2%1 MNOK
Bains Eiendom AS62.7%5.0%2 MNOK
Mathuset AS53.3%−19.9%2 MNOK
Onsrud Næringspark AS16.8%3.7%4 MNOK
Nim Eiendom AS5.4%5.2%3 MNOK
Mbe Eiendom AS31.0%3.8%2 MNOK
Svg 1 AS32.9%0.3%2 MNOK
Bolig og Byggutvikling AS1.2%−3.1%42 MNOK
Karenslyst Alle 53 Business Centre AS−19.3%8.8%10 MNOK
Bogstadveien 64 AS−47.8%0.6%1 MNOK
Orkla Takst AS1.4%−33.4%4 MNOK
Godeland Boligutvikling AS−69.1%−4.7%2 MNOK
Lysaker Torg Centre AS−22.5%−23.3%11 MNOK
Bjørnsen Eiendom AS11.2%−41.4%1 MNOK
Nesbruveien 73-77 AS−1.0%−18.5%12 MNOK
Sofienberg Gruppen AS−510.0%−343.7%2 MNOK
Nyborg Eiendom AS−35.7%−9.0%3 MNOK
Sennerudtoppen Bolig AS−148.3%−164.6%41 MNOK
Øvingslokaler i Bergen AS−81.5%−223.8%2 MNOK

Holding and investment companies · 2022

14 companies in the sector are holding or investment companies. They are kept out of the ranking above, since revenue, margins and growth say little about a company that lives from ownership. They are ranked on their own here: 9 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1Holmetjern Invest AS75 64.0%75.8% 0.84624 MNOK
2Gravalid Holding AS68 68.5%44.1% 0.0216 MNOK
3Pegasus Invest i AS57 15.5%34.0% 1.5520 MNOK
4Blekkan Holding AS56 100.0%−0.2% –18 MNOK
5Råknes Invest AS56 110.8%−5.2% –15 MNOK
6NF Invest AS45 14.6%8.7% 27.79184 MNOK
7Nikkhah Holding AS38 3.3%10.6% 1.50122 MNOK
8Cfi Stavanger Holdings AS30 17.0%2.6% 0.012,423 MNOK
9Sudrheim Invest AS27 58.4%−15.9% 0.46444 MNOK

Score 0–100 against the other holding companies in the sector: equity ratio 40 %, return on assets 40 % and current ratio 20 %. Methodology

Scenario analysis: the sector's weakest year

The sector's weakest year was 2022, with a median operating margin of 31.1%.

Based on the 9 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2018––
2019––
2020––
2021––
2022 · weakest year31.1%10.4%
202344.8%26.7%
202445.7%26.4%
202546.8%27.3%
202658.6%40.2%

In 2022, 24 ranked companies did better than the sector, 18 about the same and 18 weaker.

Held up best in 2022

  1. 1HJ Eiendom ASequity ratio 40.8%97.2%
  2. 2Viken Boligeiendom ASequity ratio 10.0%94.0%
  3. 3Gjønnesjordet 10 ASequity ratio 0.5%88.9%
  4. 4Rambolt Eiendom ASequity ratio 74.1%81.8%
  5. 5Herock ASequity ratio 89.0%79.7%
  6. 6Huitfeldts Gate 15 ASequity ratio 6.3%77.3%
  7. 7Gullregnbukta ASequity ratio 4.9%71.5%
  8. 8Haakon Knudstad ASequity ratio 71.6%70.8%
  9. 9Inventec ASequity ratio 56.2%70.1%
  10. 10Marinella Eiendom ASequity ratio 44.8%70.1%

Better than the sector: operating margin at or above the sector median and no loss or negative equity. Weaker: operating margin below the median and a loss or negative equity. Otherwise about the same as the sector. Methodology

Drivers in the sector

Interest rates, prices and exchange rates that shape the sector's year, next to the sector's median operating margin. The drivers are context and are not part of the index.

Policy rate (prosent)

Latest value: 4.30 (2026-09)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 1.1 percentage points.

Policy rate per year and the sector's median operating margin
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.14 (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−0.16 percentage points
Sector's median operating margin–31.1%44.8%45.7%46.8%58.6%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 1 November 2026

Construction cost index for dwellings (indeks (2015 = 100))

Latest value: 160.3 (2026M09)

Construction cost index for dwellings rose 4.3% in 2025; the sector's median operating margin rose 1.1 percentage points.

Construction cost index for dwellings per year and the sector's median operating margin
Measure202120222023202420252026
Construction cost index for dwellings, annual average124.2135.1141.1146.4152.7158.4 (so far)
Change from the year before+8.7%+8.8%+4.4%+3.7%+4.3%+3.7%
Sector's median operating margin–31.1%44.8%45.7%46.8%58.6%

Source: SSB (08651, CC BY 4.0). Source · fetched 1 November 2026

Consumer price index (indeks (2025 = 100))

Latest value: 104.0 (2026M09)

Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 1.1 percentage points.

Consumer price index per year and the sector's median operating margin
Measure202120222023202420252026
Consumer price index, annual average84.389.294.197.0100.0102.9 (so far)
Change from the year before+3.5%+5.8%+5.5%+3.2%+3.0%+2.9%
Sector's median operating margin–31.1%44.8%45.7%46.8%58.6%

Source: SSB (14710, CC BY 4.0). Source · fetched 1 November 2026

When policy rate fell in 2025, 3,809 of 6,896 ranked companies kept their operating margin at or above the year before. Among the largest: DNB Eiendom AS (−1.5% → 2.9%), Ferncliff Tih AS (−717.9% → 99.2%), Ferncliff Holding AS (78.3% → 99.8%), OBOS Nye Hjem AS (−0.8% → −0.7%), Eiendomsmegler 1 Sør-Norge AS (5.3% → 7.1%).

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.

The sector in Norway (SSB)

The whole industry as Statistics Norway counts it: every enterprise, not only the limited companies we rank. Use these figures as background for the ranking above.

Enterprises, employment and turnover · 2024

Enterprises
60,965
+4.0% from 2023
Persons employed
31,172
−0.2% from 2023
Turnover
NOK 240.4 bn
+8.0% from 2023
Gross operating margin
50.2%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included.

Bankruptcies in the industry

217 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −8.8% against the four quarters before (238). That is about 3.6 per 1,000 enterprises.

532024K4522025K1762025K2572025K3582025K4512026K1612026K2472026K3

Foreign-controlled enterprises · 2024

Share of enterprises
2.5%
Share of persons employed
6.0%
Share of turnover
8.6%

SSB publishes this for groups of industries only. The figures are for the group “Omsetning og drift av fast eiendom”.

Source: Statistics Norway (SSB), table 12910, table 10790, table 08085. CC BY 4.0. Our industry codes (SN2025) are linked to SSB’s (SN2007) with SSB’s correspondence table in Klass.

Latest bankruptcies and liquidations

All bankruptcies and liquidations in the sector

Industry codes (NACE)

CodeDescription
68*Hele hovedgruppe 68
68.110Kjøp og salg av egen fast eiendom
68.120Utvikling og salg av byggeprosjekter
68.200Utleie av egen eller leid fast eiendom
68.310Eiendomsmegling og andre formidlingstjenester for eiendom
68.320Eiendomsforvaltning på oppdrag