Sector

1,916 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology

Ranking · 2025 · Morning class Large

Morning class Large · 2025
#CompanyProfileScoreChangeFive years
1 Aberia Ung AS Leader 87 −3
2 Human Care Ung AS Leader 74 +15
3 Aleris Helse AS Leader 70 +5
4 Human Care AS Leader 70 +8
5 Evidia Norge AS Leader 69 +14
6 Diakonhjemmet Sykehus AS Steward 67 +10
7 Human Care BO AS Steward 65 +17
8 Unilabs Norge AS Leader 64 −1
9 Stendi AS Leader 63 −11
10 Oris Dental AS Leader 61 +10
11 AS MED-LAB Sprinter 59 −11
12 Lovisenberg Diakonale Sykehus AS Steward 57 +2
13 Mio Bpa AS Sprinter 56 +9
14 Colosseumklinikken AS Builder 49 +11
15 Ecura BO og Habilitering AS Sprinter 48 0
16 Prima Assistanse AS Sprinter 45 −1
17 Medvind Assistanse AS Sprinter 40 +2
18 Haraldsplass Diakonale Sykehus AS Steward 40 −13
19 ABERIA OMSORG & Assistanse AS Builder 40 −3
20 Helse Vest IKT AS Builder 39 −3
21 Volvat Medisinske Senter AS Steward 39 −11
22 Hero Norge AS Sprinter 38 −7
23 Norsk Luftambulanse AS Builder 37 −19
24 Falck Norge AS Builder 25 −10
25 Lovisenberg Omsorg AS Builder 16 −3
26 Avonova Helse AS Builder 13 −11
27 Avincis Aviation Norway AS Builder 12 0

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

  • Norsk Luftambulanse AS

    From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 5.7% to 1.7%.

    −19
  • Evidia Norge AS

    From 2024 to 2025: the operating margin rose from 11.2% to 15.0%.

    +14
  • Haraldsplass Diakonale Sykehus AS

    From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 0.4% to −2.9%.

    −13
  • Avonova Helse AS

    No large changes in the key figures from 2024 to 2025.

    −11
Summary analysis

Helse og omsorg, Morning class Large: 27 ranked companies in fiscal year 2025.

Best in the sector: Aberia Ung AS (score 87, operating margin 10.2%, equity ratio 65.1%). Human Care Ung AS (score 74, operating margin 6.3%, equity ratio 54.3%). Aleris Helse AS (score 70, operating margin 13.7%, equity ratio 54.4%).

Weakest in the sector: Avincis Aviation Norway AS (score 12, operating margin −19.3%, equity ratio 0.1%). Avonova Helse AS (score 13, operating margin −3.8%, equity ratio 0.6%). Lovisenberg Omsorg AS (score 16, operating margin 0.1%, equity ratio −5.3%).

Worth a closer look

Written by fixed rules from the figures. Describes the figures, does not explain causes. Not investment or financial advice. How the summary is made

Top lists in the sector · 2025 · Morning class Large

The five largest companies account for 42% of the sector's revenue. Combined profit before tax for the 27 ranked companies: 1,451 MNOK.

Size

The largest by revenue and employees, and who earns the most per employee.

Highest revenue

  1. Lovisenberg Diakonale Sykehus AS 3,560 MNOK
  2. Diakonhjemmet Sykehus AS 3,356 MNOK
  3. Stendi AS 3,098 MNOK
  4. Oris Dental AS 2,261 MNOK
  5. Helse Vest IKT AS 2,222 MNOK

Operating revenue.

Most employees

  1. Stendi AS 4,724
  2. Human Care AS 3,632
  3. Mio Bpa AS 3,244
  4. Lovisenberg Diakonale Sykehus AS 2,848
  5. Ecura BO og Habilitering AS 2,831

Employees according to the Central Coordinating Register.

Highest revenue per employee

  1. Avincis Aviation Norway AS 5.2 MNOK
  2. Norsk Luftambulanse AS 4.8 MNOK
  3. Aleris Helse AS 2.8 MNOK
  4. Helse Vest IKT AS 2.7 MNOK
  5. Oris Dental AS 2.6 MNOK

Only companies with at least 5 employees.

Profit and balance

Who earns the most, who loses the most, and who has the strongest balance sheet.

Highest operating margin

  1. Unilabs Norge AS 16.4%
  2. Evidia Norge AS 15.0%
  3. Aleris Helse AS 13.7%
  4. AS MED-LAB 13.5%
  5. Oris Dental AS 11.3%

Operating result divided by operating revenue.

Largest profit

  1. Stendi AS 269 MNOK
  2. Aleris Helse AS 263 MNOK
  3. Oris Dental AS 238 MNOK
  4. AS MED-LAB 147 MNOK
  5. Diakonhjemmet Sykehus AS 118 MNOK

Profit before tax.

Largest loss

  1. Avincis Aviation Norway AS −171 MNOK
  2. Volvat Medisinske Senter AS −90 MNOK
  3. Falck Norge AS −69 MNOK
  4. Haraldsplass Diakonale Sykehus AS −36 MNOK
  5. Avonova Helse AS −31 MNOK

Profit before tax, the largest negative.

Most solid

  1. Aberia Ung AS 65.1%
  2. Human Care BO AS 58.2%
  3. Diakonhjemmet Sykehus AS 55.8%
  4. Human Care AS 55.7%
  5. Aleris Helse AS 54.4%

Equity ratio: equity divided by total assets.

Growth and movement

Who grows and falls the most in revenue, and who has climbed or fallen the most on the index since the year before.

Fastest growth

  1. Human Care BO AS +139.9%
  2. Human Care Ung AS +108.1%
  3. Human Care AS +46.3%
  4. Medvind Assistanse AS +39.0%
  5. Mio Bpa AS +28.7%

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

Largest revenue decline

  1. Falck Norge AS −6.6%
  2. Avonova Helse AS −5.8%
  3. Hero Norge AS −4.3%

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

Biggest climbers

  1. Evidia Norge AS +14.1 points
  2. Diakonhjemmet Sykehus AS +10.8 points
  3. Colosseumklinikken AS +10.3 points
  4. Oris Dental AS +9.2 points
  5. Aleris Helse AS +4.1 points

Change in index points from the year before.

Biggest fallers

  1. Norsk Luftambulanse AS −19.0 points
  2. Haraldsplass Diakonale Sykehus AS −12.7 points
  3. AS MED-LAB −10.9 points
  4. Avonova Helse AS −10.5 points
  5. Stendi AS −10.5 points

Change in index points from the year before.

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 · 2025 · 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.

Bubble size shows relative revenue, not exact figures. Dashed lines show where the 5 companies that moved most stood in 2024 (small ring).

  • Lion · LeaderHigh profitability, high solidity
  • Cheetah · SprinterHigh profitability, lower solidity
  • Elephant · StewardLower profitability, high solidity
  • Beaver · BuilderLower profitability, lower solidity
Show the positions as a list
CompanyProfileProfitabilitySolidityIn 2024 (profitability / solidity)
Aleris Helse ASLion948490 / 61
AS MED-LABCheetah9449100 / 51
Evidia Norge ASLion887371 / 90
Aberia Ung ASLion8710090 / 95
Oris Dental ASLion875381 / 41
Prima Assistanse ASCheetah772264 / 22
Unilabs Norge ASLion736174 / 66
Stendi ASLion736971 / 71
Human Care ASLion6988–
Ecura BO og Habilitering ASCheetah693352 / 37
Human Care Ung ASLion6080–
Medvind Assistanse ASCheetah606–
Mio Bpa ASCheetah5437–
Hero Norge ASCheetah542979 / 32
Colosseumklinikken ASBeaver461455 / 2
Human Care BO ASElephant4296–
Diakonhjemmet Sykehus ASElephant389236 / 80
ABERIA OMSORG & Assistanse ASBeaver372548 / 27
Helse Vest IKT ASBeaver351838 / 17
Lovisenberg Diakonale Sykehus ASElephant316533 / 85
Norsk Luftambulanse ASBeaver254545 / 46
Lovisenberg Omsorg ASBeaver1907 / 0
Haraldsplass Diakonale Sykehus ASElephant135724 / 76
Volvat Medisinske Senter ASElephant127619 / 100
Avonova Helse ASBeaver101014 / 12
Falck Norge ASBeaver2412 / 56
Avincis Aviation Norway ASBeaver225 / 7
The sector in numbers

Summary · fiscal year 2025 · Morning class Large

The sector's median operating margin is 4.9%. 1 of 27 companies have negative equity. The median equity ratio is 39.8%.

Companies with accounts27
Total revenue34,816 MNOK
Median operating margin4.9%
Median equity ratio39.8%
Share with a loss22%
Share with negative equity4%

All figures are for fiscal year 2025. Ranked: 27 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index

Climbers and fallers · Morning class Large

Change in rank from 2024 to 2025, for 22 companies ranked in both years.

Climbers

  1. 4Evidia Norge ASfrom rank 9 to 569
  2. 4Colosseumklinikken ASfrom rank 18 to 1449
  3. 1Aleris Helse ASfrom rank 4 to 370
  4. 1Oris Dental ASfrom rank 11 to 1061

Fallers

  1. 16Norsk Luftambulanse ASfrom rank 7 to 2337
  2. 9Volvat Medisinske Senter ASfrom rank 12 to 2139
  3. 8AS MED-LABfrom rank 3 to 1159
  4. 8Haraldsplass Diakonale Sykehus ASfrom rank 10 to 1840
  5. 7Stendi ASfrom rank 2 to 963

Awards · 2025 · Morning class Large

Most profitableUnilabs Norge AS16.4%
Fastest growthHuman Care BO AS139.9%
Strongest balance sheetAberia Ung AS65.1%
Largest revenueLovisenberg Diakonale Sykehus AS3,560 MNOK
Highest revenue per employeeAvincis Aviation Norway AS5.2 MNOK

Needs attention · 2025 · Morning class Large

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

Sector map · 2025 · Morning class Large

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.

−10%−5%0%5%10%0%10%20%30%40%50%Operating margin (profitability) →Equity ratio (solidity) →Lovisenberg Diakonale Sykehus AS: operating margin 2.4%, equity ratio 43.9%, rank 12Diakonhjemmet Sykehus AS: operating margin 2.8%, equity ratio 55.8%, rank 6Stendi AS: operating margin 6.9%, equity ratio 47.3%, rank 9Oris Dental AS: operating margin 11.3%, equity ratio 40.9%, rank 10Helse Vest IKT AS: operating margin 4.6%, equity ratio 5.8%, rank 20Colosseumklinikken AS: operating margin 6.0%, equity ratio 2.9%, rank 14Aleris Helse AS: operating margin 13.7%, equity ratio 54.4%, rank 3Ecura BO og Habilitering AS: operating margin 6.2%, equity ratio 23.0%, rank 15Haraldsplass Diakonale Sykehus AS: operating margin −2.9%, equity ratio 42.7%, rank 18Volvat Medisinske Senter AS: operating margin −4.5%, equity ratio 48.7%, rank 21AS MED-LAB: operating margin 13.5%, equity ratio 39.8%, rank 11Norsk Luftambulanse AS: operating margin 1.7%, equity ratio 33.4%, rank 23Lovisenberg Omsorg AS: operating margin 0.1%, equity ratio −5.3%, rank 25Human Care Ung AS: operating margin 6.3%, equity ratio 54.3%, rank 2Human Care BO AS: operating margin 4.8%, equity ratio 58.2%, rank 7Human Care AS: operating margin 7.8%, equity ratio 55.7%, rank 4Prima Assistanse AS: operating margin 6.9%, equity ratio 6.3%, rank 16Avincis Aviation Norway AS: operating margin −19.3%, equity ratio 0.1%, rank 27Aberia Ung AS: operating margin 10.2%, equity ratio 65.1%, rank 1Hero Norge AS: operating margin 4.5%, equity ratio 22.7%, rank 22Unilabs Norge AS: operating margin 16.4%, equity ratio 42.8%, rank 8ABERIA OMSORG & Assistanse AS: operating margin 1.7%, equity ratio 15.6%, rank 19Mio Bpa AS: operating margin 4.9%, equity ratio 24.0%, rank 13Evidia Norge AS: operating margin 15.0%, equity ratio 47.3%, rank 5Falck Norge AS: operating margin −11.9%, equity ratio 32.7%, rank 24Avonova Helse AS: operating margin −3.8%, equity ratio 0.6%, rank 26Medvind Assistanse AS: operating margin 5.7%, equity ratio 0.1%, rank 17
Show the map's figures as a table
CompanyOperating marginEquity ratioRevenue
Aberia Ung AS10.2%65.1%701 MNOK
Human Care Ung AS6.3%54.3%830 MNOK
Aleris Helse AS13.7%54.4%1,852 MNOK
Human Care AS7.8%55.7%731 MNOK
Evidia Norge AS15.0%47.3%618 MNOK
Diakonhjemmet Sykehus AS2.8%55.8%3,356 MNOK
Human Care BO AS4.8%58.2%812 MNOK
Unilabs Norge AS16.4%42.8%660 MNOK
Stendi AS6.9%47.3%3,098 MNOK
Oris Dental AS11.3%40.9%2,261 MNOK
AS MED-LAB13.5%39.8%1,086 MNOK
Lovisenberg Diakonale Sykehus AS2.4%43.9%3,560 MNOK
Mio Bpa AS4.9%24.0%623 MNOK
Colosseumklinikken AS6.0%2.9%1,855 MNOK
Ecura BO og Habilitering AS6.2%23.0%1,472 MNOK
Prima Assistanse AS6.9%6.3%721 MNOK
Medvind Assistanse AS5.7%0.1%536 MNOK
Haraldsplass Diakonale Sykehus AS−2.9%42.7%1,444 MNOK
ABERIA OMSORG & Assistanse AS1.7%15.6%623 MNOK
Helse Vest IKT AS4.6%5.8%2,222 MNOK
Volvat Medisinske Senter AS−4.5%48.7%1,251 MNOK
Hero Norge AS4.5%22.7%670 MNOK
Norsk Luftambulanse AS1.7%33.4%1,044 MNOK
Falck Norge AS−11.9%32.7%588 MNOK
Lovisenberg Omsorg AS0.1%−5.3%928 MNOK
Avonova Helse AS−3.8%0.6%557 MNOK
Avincis Aviation Norway AS−19.3%0.1%719 MNOK

Holding and investment companies · 2025

95 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: 30 have at least 10 MNOK in assets and are listed.

Holding and investment companies
RankCompanyScore Equity ratioReturn on assetsCurrent ratioTotal assets
1O2 Holding AS94 99.0%74.0% 43.5510 MNOK
2Carlsten Holding AS86 99.8%26.2% 384.4413 MNOK
3Fewi Holding AS80 87.9%50.1% 8.2826 MNOK
4Akval Invest AS76 96.2%24.7% 15.4325 MNOK
5Clh Holding AS72 83.7%44.5% 5.7825 MNOK
6Nhf Holding AS70 99.8%8.1% 342.7015 MNOK
7BJØRN J. Hansen Holding AS70 80.8%36.5% 39.5041 MNOK
8Minster Holding AS62 76.7%40.0% 4.2822 MNOK
9Coysa Holding AS59 84.9%21.6% 4.4012 MNOK
10Rundhaug Holding AS53 93.1%14.0% 2.3014 MNOK
11Nevrokiro Holding AS53 96.8%0.2% 30.9018 MNOK
12Blid Holding AS52 100.0%0.0% –31 MNOK
13Eija Holding AS51 71.0%31.4% 3.1553 MNOK
14J S Holding AS50 90.4%3.5% 7.3849 MNOK
15Dmpsteg Holding AS47 97.1%−0.1% 5.1115 MNOK
16Efraim Holding AS44 62.6%29.3% 1.9930 MNOK
17Mare Holding AS43 68.4%23.1% 2.9318 MNOK
18Ylvind Holding AS42 75.4%18.3% 3.4225 MNOK
19Glis Holding AS42 76.4%15.5% 3.3621 MNOK
20Fürst Holding AS41 83.8%10.8% 1.131,708 MNOK
Show all 30
RankCompanyScoreTotal assets
21Aukland Holding AS4037 MNOK
22Bch Holding AS4017 MNOK
23Coperio Holding AS39193 MNOK
24M Sørensen Holding AS3861 MNOK
25Børseth Invest AS3811 MNOK
26Endre Hodneland Holding AS3717 MNOK
27M&V Holding AS281,293 MNOK
28Gatty Holding AS2122 MNOK
29Link Holding AS18129 MNOK
30Pepper Holding AS1330 MNOK

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

In our articles

All articles

Scenario analysis: the sector's weakest year

The sector's weakest year was 2026, with a median operating margin of −10.4%.

Based on the 6 fiscal years we have. The analysis grows as more years are fetched or imported.

Fiscal yearMedian operating marginMedian equity ratio
2021––
20224.7%34.5%
20237.7%41.7%
20247.1%43.2%
20256.5%43.6%
2026 · weakest year−10.4%10.8%

In 2026, 0 ranked companies did better than the sector, 1 about the same and 0 weaker.

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.

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 fell 0.6 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–4.7%7.7%7.1%6.5%−10.4%

Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026

Policy rate (prosent)

Latest value: 4.50 (2026-10)

Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin fell 0.6 percentage points.

Policy rate per year and the sector's median operating margin
Measure202120222023202420252026
Policy rate, annual average0.081.323.544.504.304.17 (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
Sector's median operating margin–4.7%7.7%7.1%6.5%−10.4%

Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026

When policy rate fell in 2025, 896 of 1,877 ranked companies kept their operating margin at or above the year before. Among the largest: Lovisenberg Diakonale Sykehus AS (1.9% → 2.4%), Diakonhjemmet Sykehus AS (1.5% → 2.8%), Aleris Helse AS (11.9% → 13.7%), Ecura BO og Habilitering AS (4.6% → 6.2%), Lovisenberg Omsorg AS (−3.0% → 0.1%).

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
39,697
+0.7% from 2023
Persons employed
127,429
+1.3% from 2023
Turnover
NOK 140.5 bn
+7.0% from 2023
Gross operating margin
22.7%
Gross operating surplus divided by turnover

All enterprises, sole proprietorships included. SSB withholds some figures for confidentiality. The figure then shows the latest year with every value, and the year is given beside it.

Bankruptcies in the industry

54 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change +20.0% against the four quarters before (45). That is about 1.4 per 1,000 enterprises.

122024K462025K1122025K2152025K3222025K4112026K1132026K282026K3

Source: Statistics Norway (SSB), table 12910, table 10790. 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
86*Hele hovedgruppe 86
86.101Somatiske sykehustjenester
86.102Psykiatriske sykehustjenester for voksne
86.103Spesialisert rusbehandling
86.104Psykiatriske sykehustjenester for barn og ungdom
86.210Allmennlegetjenester
86.221Spesialiserte legetjenester, unntatt psykiatriske legetjenester
86.222Psykiatriske legetjenester
86.230Tannlegetjenester
86.910Medisinske laboratorietjenester og bildediagnostikk
86.921Ambulansetransport unntatt luftambulanse
86.922Luftambulansetransport med fly eller helikopter
86.930Psykolog- og psykoterapitjenester, unntatt legetjenester innenfor psykiatri
86.941Sykepleietjenester og andre helsetjenester i hjemmet
86.942Helsestasjons- og skolehelsetjenester
86.950Fysioterapi- og ergoterapitjenester
86.960Aktiviteter innenfor tradisjonell, komplementær og alternativ medisin
86.970Formidlingstjenester tilknyttet lege-, tannlegetjenester og andre helsetjenester
86.991Ortopedi- og fotterapitjenester
86.992Forebyggende helsearbeid
86.993Andre helsetjenester ellers
87*Hele hovedgruppe 87
87.101Tjenester i spesialinstitusjon innenfor helse- og omsorg
87.102Sykehjemstjenester
87.104Tjenester i avlastningsboliger/-institusjoner
87.106Helse- og omsorgstjenester i bofelleskap, samlokaliserte omsorgsboliger og lignende
87.201Omsorgstjenester i botilbud for personer med psykiske helseproblemer og/eller rusmiddelproblemer
87.202Omsorgstjenester i botilbud for personer med utviklingshemming eller med tilsvarende funksjonsnedsettelse
87.300Omsorgstjenester i botilbud for eldre eller personer med fysisk funksjonsnedsettelse
87.991Tjenester i barneverninstitusjoner
87.992Asylmottakstjenester
87.999Andre botilbud innenfor sosiale tjenester ikke nevnt annet sted
88*Hele hovedgruppe 88
88.101Praktisk bistand i hjemmet
88.102Dagaktivitetstilbud tilpasset målgrupper
88.103Tjenester i seniorsentre
88.104Brukerstyrt personlig assistanse (bpa)
88.105Avlastning utenfor institusjon
88.106Støttekontakt- og besøkstjeneste
88.910Dagaktivitetstilbud for barn
88.991Barneverntjenester
88.992Familieverntjenester
88.993Arbeidstrening og varig tilrettelagt arbeid
88.994Velferdstjenester til sårbare grupper
88.996Andre sosialtjenester uten botilbud ellers