Informasjon og kommunikasjon
FollowDownload sector report (PDF)2,301 companies ranked against comparable companies in four Morning company classes. Fiscal year 2025. Source: Brønnøysund Register Centre. Methodology
Ranking · 2025 · Morning class Large
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
- Orange Business Digital Norway AS+53
From 2024 to 2025: the operating margin rose from 0.0% to 31.7% and went from a loss to a profit before tax.
- Remarkable AS−46
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from 8.7% to −7.1%.
- Crayon Group AS−27
From 2024 to 2025: went from a profit to a loss before tax and the operating margin fell from −20.4% to −29.2%.
- Story House Egmont AS+25
From 2024 to 2025: the operating margin rose from 3.4% to 13.3% and revenue grew by 31%.
Informasjon og kommunikasjon, Morning class Large: 132 ranked companies in fiscal year 2025.
Best in the sector: Novorender AS (score 88, operating margin 78.0%, equity ratio 74.4%). Eviny Fiber AS (score 80, operating margin 39.9%, equity ratio 71.3%). Zenitel Norway AS (score 79, operating margin 26.3%, equity ratio 49.8%).
Weakest in the sector: Volue Technology AS (score 11, operating margin −2.6%, equity ratio 8.3%). Vivicta AS (score 11, operating margin −8.0%, equity ratio 0.6%). Cognite AS (score 14, operating margin −30.6%, equity ratio −17.5%).
Worth a closer look
- The median operating margin rose from 6.1% in 2024 to 6.9% in 2025 (0.9 percentage points).
- The median equity ratio rose from 26.4% in 2024 to 28.2% in 2025 (1.8 percentage points).
- The median revenue growth fell from 8.9% in 2024 to 7.5% in 2025 (1.4 percentage points).
- The share with a loss went from 21% in 2024 to 20% in 2025.
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 34% of the sector's revenue. Combined profit before tax for the 131 ranked companies: 21,295 MNOK.
Size
The largest by revenue and employees, and who earns the most per employee.
Highest revenue
- Microsoft Norge AS 30,292 MNOK
- Telenor Norge AS 27,153 MNOK
- Telia Norge AS 14,137 MNOK
- Lyse Tele ASsubsidiary of Lyse AS 9,421 MNOK
- Norsk Rikskringkasting AS 6,869 MNOK
Operating revenue.
Most employees
- Norsk Rikskringkasting AS 4,106
- Sopra Steria AS 3,674
- Telenor Norge AS 2,723
- Bouvet Norge AS 2,271
- Telia Norge AS 1,719
Employees according to the Central Coordinating Register.
Highest revenue per employee
- Green Mountain Innlandet AS 139.5 MNOK
- Bergen Fiber AS 123.9 MNOK
- Microsoft Norge AS 117.4 MNOK
- Tiktok Norway AS 76.5 MNOK
- Microsoft Datacenter Norway AS 61.0 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
- Novorender AS 78.0%
- Bergen Fiber AS 77.5%
- Amedia AS 62.5%
- Tampnet AS 44.7%
- Green Mountain Innlandet AS 44.0%
Operating result divided by operating revenue.
Largest profit
- Telenor Norge AS 6,076 MNOK
- Bergen Fiber AS 2,022 MNOK
- Telia Norge AS 1,779 MNOK
- Microsoft Norge AS 1,426 MNOK
- Green Mountain Innlandet AS 1,134 MNOK
Profit before tax.
Largest loss
- Crayon Group AS −1,970 MNOK
- Lyse Tele ASsubsidiary of Lyse AS −1,528 MNOK
- Tieto Banktech Norway AS −783 MNOK
- Cognite AS −514 MNOK
- Funcom Oslo AS −473 MNOK
Profit before tax, the largest negative.
Most solid
- Microsoft Development Center Norway AS 92.4%
- KAHOOT! AS 82.7%
- Opera Norway AS 80.6%
- WS Computing AS 79.2%
- HCL Technologies Norway AS 77.1%
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
- Novorender AS +2,672.4%
- Green Mountain Innlandet AS +411.0%
- WS Computing AS +386.2%
- Bergen Fiber AS +354.6%
- Funcom Oslo AS +249.9%
Revenue growth from the year before, only from at least NOK 10 million in revenue.
Largest revenue decline
- Ericsson AS −32.3%
- Falkor AS −30.3%
- Volue Technology AS −24.3%
- Netnordic Norway AS −22.0%
- Computas AS −19.8%
Revenue decline from the year before, only from at least NOK 10 million in revenue.
Biggest climbers
- Orange Business Digital Norway AS +53.0 points
- Story House Egmont AS +25.0 points
- Adresseavisen AS +23.3 points
- Arm Norway AS +21.6 points
- Move AS +15.1 points
Change in index points from the year before.
Biggest fallers
- Remarkable ASsubsidiary of Remarkable Invest AS −45.7 points
- Crayon Group AS −27.4 points
- Banqsoft AS −23.5 points
- Discovery Networks Norway AS −22.8 points
- Volue Technology AS −21.7 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.
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).
- Orange Business Digital Norway AS profitability 18 → 94, solidity 18 → 59
- Adresseavisen AS profitability 49 → 44, solidity 24 → 89
- Opera Norway AS profitability 77 → 40, solidity 48 → 98
- Remarkable AS profitability 60 → 8, solidity 49 → 17
- Tiktok Norway AS profitability 35 → 31, solidity 0 → 55
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
| Company | Profile | Profitability | Solidity |
|---|---|---|---|
| Inmarsat Solutions AS | Elephant | 29 | 89 |
| Lyse Marked AS | Elephant | 27 | 56 |
| Telenor Linx AS | Elephant | 26 | 71 |
| Kyndryl Services AS | Beaver | 24 | 20 |
| Conscia Norge AS | Beaver | 23 | 18 |
| Netsecurity AS | Elephant | 21 | 75 |
| Mnemonic AS | Elephant | 21 | 76 |
| Eidsiva Digital AS | Elephant | 21 | 67 |
| Kyndryl Norway AS | Elephant | 21 | 86 |
| Computas AS | Elephant | 20 | 58 |
| WS Computing AS | Elephant | 18 | 98 |
| Softwareone NO AS | Elephant | 15 | 79 |
| Schibsted Media AS | Elephant | 14 | 63 |
| Aschehoug AS | Elephant | 14 | 82 |
| Aller Media AS | Elephant | 14 | 85 |
| Norsk Rikskringkasting AS | Beaver | 13 | 44 |
| Møller Digital AS | Beaver | 11 | 26 |
| Volue Technology AS | Beaver | 11 | 13 |
| Dxc Technology Norge AS | Elephant | 10 | 77 |
| Lyse AS | Beaver | 10 | 14 |
| Crayon Group AS | Beaver | 8 | 16 |
| Microsoft Development Center Norway AS | Elephant | 8 | 100 |
| Netcompany Norway AS | Beaver | 8 | 22 |
| Remarkable AS | Beaver | 8 | 17 |
| Lyse Tele AS | Elephant | 6 | 61 |
| SCHIBSTED MEDIA PRODUCTS & Technology AS | Beaver | 5 | 9 |
| Vivicta AS | Beaver | 5 | 1 |
| Experis AS | Beaver | 5 | 33 |
| Tieto Banktech Norway AS | Elephant | 3 | 92 |
| Falkor AS | Elephant | 3 | 93 |
| Funcom Oslo AS | Beaver | 2 | 7 |
| Cognite AS | Beaver | 1 | 0 |
Summary · fiscal year 2025 · Morning class Large
The sector's median operating margin is 6.9%. 1 of 132 companies have negative equity. The median equity ratio is 28.2%.
All figures are for fiscal year 2025. Ranked: 132 operating companies. Holding companies, excluded companies and companies without enough data are shown but not ranked. How to read the index
The total counts each group once: 1 subsidiaries (959 MNOK in revenue) are left out of totals and size lists because their parent in the sector has at least as much revenue, so their sales can run through the parent. They are ranked as usual. Methodology
- 5 companies report in another currency. Their revenue is converted at the mean rate for the accounting period and makes up 7% of the total.
Climbers and fallers · Morning class Large
Change in rank from 2024 to 2025, for 112 companies ranked in both years.
Climbers
- 103Orange Business Digital Norway ASfrom rank 112 to 970
- 65Adresseavisen ASfrom rank 83 to 1865
- 64Story House Egmont ASfrom rank 98 to 3459
- 53Arm Norway ASfrom rank 96 to 4356
- 39IBM Norge ASfrom rank 50 to 1169
Fallers
- 111Remarkable ASfrom rank 18 to 12918
- 83Banqsoft ASfrom rank 14 to 9742
- 79Discovery Networks Norway ASfrom rank 12 to 9145
- 74Navtor ASfrom rank 25 to 9941
- 61Crayon Group ASfrom rank 65 to 12622
Awards · 2025 · Morning class Large
Needs attention · 2025 · Morning class Large
70 companies show at least one warning sign. Showing the 15 most important.
- criticalCognite ASNegative equity · Current ratio below 1 (0.28) · Loss before tax
- watchVivicta ASVery low equity ratio (0.6%) · Current ratio below 1 (0.99) · Loss before tax
- watchNavtor ASVery low equity ratio (8.8%) · Current ratio below 1 (0.99) · Loss before tax
- watchSCHIBSTED MEDIA PRODUCTS & Technology ASVery low equity ratio (4.2%) · Current ratio below 1 (0.45) · Loss before tax
- watchVolue Technology ASVery low equity ratio (8.3%) · Current ratio below 1 (0.35) · Loss before tax
- watchMicrosoft Norge ASVery low equity ratio (3.5%) · Current ratio below 1 (0.99)
- watchNorsk Rikskringkasting ASCurrent ratio below 1 (0.82) · Loss before tax
- watchRemarkable ASCurrent ratio below 1 (0.95) · Loss before tax
- watchTiktok Norway ASCurrent ratio below 1 (0.24) · Loss before tax
- watchTelenor Towers Norway ASVery low equity ratio (1.4%) · Current ratio below 1 (0.60)
- watchGlobalconnect ASCurrent ratio below 1 (0.33) · Loss before tax
- watchEidsiva Digital ASCurrent ratio below 1 (0.63) · Loss before tax
- watchConscia Norge ASCurrent ratio below 1 (0.86) · Loss before tax
- watchCrayon Group ASCurrent ratio below 1 (0.40) · Loss before tax
- watchPexip ASVery low equity ratio (0.1%) · Current ratio below 1 (0.41)
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.
Show the map's figures as a table
| Company | Operating margin | Equity ratio | Revenue |
|---|---|---|---|
| Novorender AS | 78.0% | 74.4% | 540 MNOK |
| Eviny Fiber AS | 39.9% | 71.3% | 909 MNOK |
| Zenitel Norway AS | 26.3% | 49.8% | 1,148 MNOK |
| Nlogic AS | 9.8% | 45.9% | 502 MNOK |
| Intility AS | 14.0% | 30.6% | 1,808 MNOK |
| Airbus Defence and Space AS | 6.4% | 36.0% | 688 MNOK |
| Mastercard Payment Services Norway AS | 12.8% | 67.5% | 907 MNOK |
| Green Mountain Innlandet AS | 44.0% | 34.6% | 1,535 MNOK |
| Orange Business Digital Norway AS | 31.7% | 31.6% | 1,508 MNOK |
| Green Mountain AS | 36.3% | 62.4% | 991 MNOK |
| IBM Norge AS | 16.4% | 36.6% | 1,155 MNOK |
| Webstep AS | 9.3% | 46.6% | 835 MNOK |
| Inmarsat Solutions AS | 4.1% | 63.5% | 3,165 MNOK |
| Bergen Fiber AS | 77.5% | 34.6% | 2,602 MNOK |
| HCL Technologies Norway AS | 6.6% | 77.1% | 531 MNOK |
| Ambita AS | 13.3% | 63.8% | 553 MNOK |
| Evry Card Services AS | 15.4% | 41.9% | 631 MNOK |
| Adresseavisen AS | 3.4% | 63.5% | 525 MNOK |
| Dips AS | 24.4% | 35.0% | 790 MNOK |
| Onitio Solutions Norge AS | 5.6% | 29.5% | 556 MNOK |
| Knowit Solutions Consulting AS | 13.0% | 15.8% | 564 MNOK |
| Thales Norway AS | 15.7% | 19.4% | 1,156 MNOK |
| Bouvet Norge AS | 12.4% | 27.0% | 3,837 MNOK |
| Kongsberg Satellite Services AS | 18.0% | 56.3% | 2,073 MNOK |
| Visma Enterprise AS | 31.0% | 22.0% | 1,112 MNOK |
| Signicat AS | 9.7% | 74.3% | 785 MNOK |
| Amedia AS | 62.5% | 50.8% | 650 MNOK |
| SAP Norge AS | 7.4% | 29.4% | 1,720 MNOK |
| Opera Norway AS | 5.0% | 80.6% | 3,540 MNOK |
| Stø AS | 15.6% | 76.9% | 1,636 MNOK |
| Abax AS | 19.3% | 66.3% | 514 MNOK |
| Softwareone NO AS | −0.9% | 44.4% | 535 MNOK |
| Advania Norge AS | 6.9% | 36.9% | 2,777 MNOK |
| Story House Egmont AS | 13.3% | 19.4% | 856 MNOK |
| Gyldendal Norsk Forlag AS | 10.1% | 35.8% | 872 MNOK |
| Haugaland Kraft Fiber AS | 25.3% | 39.3% | 688 MNOK |
| KAHOOT! AS | 25.5% | 82.7% | 1,172 MNOK |
| Viaplay Group Norway AS | 5.6% | 35.5% | 1,099 MNOK |
| Twoday AS | 11.6% | 22.4% | 929 MNOK |
| Evry Card Issuing AS | 34.4% | 14.3% | 900 MNOK |
| Ifs Norge AS | 4.8% | 31.4% | 1,028 MNOK |
| Aftenposten AS | 9.8% | 18.9% | 1,351 MNOK |
| Arm Norway AS | 6.5% | 37.1% | 784 MNOK |
| Upheads AS | 8.3% | 32.8% | 585 MNOK |
| Cappelen Damm AS | 7.0% | 38.5% | 1,196 MNOK |
| Space Norway Satcom AS | 41.0% | 49.3% | 840 MNOK |
| Cisco Systems Norway AS | 7.3% | 13.7% | 1,536 MNOK |
| Teleplan Globe AS | 9.2% | 20.8% | 569 MNOK |
| Bitdeer Norway AS | 10.4% | 27.8% | 1,296 MNOK |
| Verdens Gang AS | 6.5% | 34.0% | 2,008 MNOK |
| Visma Software AS | 27.9% | 15.9% | 1,568 MNOK |
| Poweroffice AS | 43.3% | 0.8% | 925 MNOK |
| Geodata AS | 15.7% | 12.0% | 575 MNOK |
| Quorum Software Norway AS | 8.8% | 27.9% | 946 MNOK |
| Cegal AS | 9.3% | 28.9% | 1,422 MNOK |
| Kyndryl Norway AS | 1.6% | 55.1% | 928 MNOK |
| Tripletex AS | 40.0% | 2.6% | 1,653 MNOK |
| Microsoft Development Center Norway AS | −25.9% | 92.4% | 832 MNOK |
| Move AS | 4.8% | 22.9% | 569 MNOK |
| TV 2 AS | 3.8% | 30.0% | 6,414 MNOK |
| Accenture AS | 9.5% | 20.0% | 3,079 MNOK |
| Orkla IT AS | 5.4% | 24.5% | 857 MNOK |
| Lyse Marked AS | 3.1% | 30.0% | 1,013 MNOK |
| Itera Norge AS | 4.4% | 28.7% | 616 MNOK |
| Tampnet AS | 44.7% | 25.3% | 813 MNOK |
| Visma Flyt AS | 5.7% | 38.6% | 566 MNOK |
| Evidi AS | 6.0% | 37.4% | 768 MNOK |
| NTE Telekom AS | 25.7% | 33.8% | 895 MNOK |
| WS Computing AS | 2.1% | 79.2% | 566 MNOK |
| Netsecurity AS | 2.5% | 39.4% | 835 MNOK |
| Omega 365 Norway AS | 3.3% | 29.3% | 539 MNOK |
| Starlink Norway AS | 5.5% | 4.0% | 831 MNOK |
| CGI Norge AS | 4.3% | 42.2% | 934 MNOK |
| Entur AS | 3.3% | 21.3% | 840 MNOK |
| Dagens Næringsliv AS | 10.9% | 19.2% | 603 MNOK |
| Norkart AS | 16.2% | 11.0% | 600 MNOK |
| Sopra Steria AS | 8.9% | 15.0% | 5,983 MNOK |
| Bekk Consulting AS | 14.0% | 10.7% | 1,061 MNOK |
| Tieto Norway AS | 8.3% | 44.8% | 2,157 MNOK |
| Link Mobility AS | 12.8% | 4.3% | 962 MNOK |
| Viken Fiber AS | 23.5% | 27.8% | 2,605 MNOK |
| Netnordic Norway AS | 9.0% | 19.6% | 937 MNOK |
| Tieto Banktech Norway AS | −17.5% | 67.4% | 4,423 MNOK |
| Telenor Linx AS | −0.3% | 36.9% | 1,290 MNOK |
| Mnemonic AS | 1.1% | 41.8% | 1,120 MNOK |
| Omega 365 Consulting AS | 4.1% | 17.1% | 2,127 MNOK |
| Telenor Norge AS | 21.9% | 18.0% | 27,153 MNOK |
| Aschehoug AS | −3.1% | 47.2% | 581 MNOK |
| Unit4 AS | 10.6% | 10.3% | 511 MNOK |
| Onyx Centersource AS | 29.0% | 2.9% | 537 MNOK |
| Discovery Networks Norway AS | 10.3% | 25.8% | 1,172 MNOK |
| Tiktok Norway AS | 7.8% | 29.9% | 4,361 MNOK |
| Rikstv AS | 12.2% | 8.1% | 1,498 MNOK |
| Lyse Tele AS | −12.1% | 33.7% | 9,421 MNOK |
| Capgemini Norge AS | 1.6% | 28.5% | 3,244 MNOK |
| Allente Norge AS | 8.5% | 13.5% | 2,994 MNOK |
| Banqsoft AS | 4.7% | 18.6% | 653 MNOK |
| Simployer AS | 6.3% | 6.2% | 532 MNOK |
| Navtor AS | 5.9% | 8.8% | 1,585 MNOK |
| Schibsted Media AS | −10.3% | 34.6% | 1,403 MNOK |
| Dxc Technology Norge AS | −2.4% | 41.8% | 648 MNOK |
| Møller Digital AS | −2.6% | 15.1% | 601 MNOK |
| Eidsiva Digital AS | 2.9% | 35.7% | 1,221 MNOK |
| Telenor Towers Norway AS | 31.6% | 1.4% | 2,569 MNOK |
| Microsoft Norge AS | 4.5% | 3.5% | 30,292 MNOK |
| Pexip AS | 21.6% | 0.1% | 982 MNOK |
| Ericsson AS | 2.7% | 15.5% | 857 MNOK |
| Telia Norge AS | 20.2% | 19.2% | 14,137 MNOK |
| Falkor AS | −32.3% | 70.0% | 784 MNOK |
| Microsoft Datacenter Norway AS | 3.8% | 17.6% | 3,415 MNOK |
| Softwareone AS | 26.2% | 2.6% | 959 MNOK |
| Aller Media AS | −1.0% | 51.5% | 867 MNOK |
| Computas AS | 0.7% | 31.1% | 691 MNOK |
| DN Media Group AS | −0.6% | 7.8% | 604 MNOK |
| Kyndryl Services AS | 2.3% | 10.7% | 1,069 MNOK |
| Conscia Norge AS | 2.7% | 10.4% | 1,183 MNOK |
| Nextgentel AS | 2.2% | 16.4% | 505 MNOK |
| Visma Software International AS | 2.6% | 1.6% | 1,243 MNOK |
| Funcom Oslo AS | −68.1% | 3.9% | 708 MNOK |
| Norsk Rikskringkasting AS | −1.6% | 23.7% | 6,869 MNOK |
| Globalconnect AS | 6.5% | 23.5% | 2,162 MNOK |
| Lyse AS | −69.2% | 8.8% | 505 MNOK |
| Telenor Maritime AS | 4.0% | 7.9% | 673 MNOK |
| Unifon AS | 5.2% | 15.6% | 600 MNOK |
| Experis AS | −7.9% | 18.6% | 1,282 MNOK |
| Crayon Group AS | −29.2% | 10.1% | 1,029 MNOK |
| Netcompany Norway AS | −5.4% | 13.2% | 570 MNOK |
| SCHIBSTED MEDIA PRODUCTS & Technology AS | −9.6% | 4.2% | 1,052 MNOK |
| Remarkable AS | −7.1% | 10.4% | 4,403 MNOK |
| Cognite AS | −30.6% | −17.5% | 1,176 MNOK |
| Vivicta AS | −8.0% | 0.6% | 3,339 MNOK |
| Volue Technology AS | −2.6% | 8.3% | 626 MNOK |
Holding and investment companies · 2025
186 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: 61 have at least 10 MNOK in assets and are listed.
| Rank | Company | Score | Equity ratio | Return on assets | Current ratio | Total assets |
|---|---|---|---|---|---|---|
| 1 | Darwin Holding AS | 93 | 99.9% | 96.3% | 355.21 | 47 MNOK |
| 2 | Havarsa Holding AS | 88 | 99.7% | 93.1% | 368.71 | 34 MNOK |
| 3 | Auzilium Invest AS | 86 | 99.6% | 94.6% | 186.76 | 23 MNOK |
| 4 | Jepson Holding AS | 86 | 100.0% | 21.6% | 2,118.77 | 24 MNOK |
| 5 | Froma Holding AS | 78 | 99.4% | 87.8% | 106.78 | 14 MNOK |
| 6 | IC Invest AS | 77 | 100.0% | 14.1% | 7,216.56 | 24 MNOK |
| 7 | Castle Age Capital AS | 77 | 98.1% | 100.2% | 51.43 | 50 MNOK |
| 8 | Kanon Invest AS | 76 | 98.3% | 91.8% | 31.01 | 10 MNOK |
| 9 | Norse Holding AS | 74 | 100.0% | 18.3% | 8.22 | 180 MNOK |
| 10 | Sunday Invest AS | 74 | 98.9% | 43.2% | 57.61 | 19 MNOK |
| 11 | Dintero Holding AS | 71 | 99.9% | 11.4% | 789.43 | 77 MNOK |
| 12 | Opcode Invest AS | 70 | 99.6% | 14.9% | 167.75 | 13 MNOK |
| 13 | Dyar Holding AS | 69 | 98.3% | 16.9% | 443.90 | 572 MNOK |
| 14 | Bertheussen Invest AS | 68 | 98.9% | 17.7% | 89.49 | 655 MNOK |
| 15 | Ehaa Invest AS | 66 | 100.0% | 7.4% | – | 19 MNOK |
| 16 | Ingulstad Holding AS | 65 | 99.5% | 13.3% | 173.23 | 129 MNOK |
| 17 | Moroni Invest AS | 65 | 97.7% | 24.6% | 33.55 | 26 MNOK |
| 18 | Bakkejord Holding AS | 63 | 98.1% | 48.8% | 0.91 | 256 MNOK |
| 19 | Stonehaven Capital AS | 61 | 99.5% | 9.1% | 126.19 | 19 MNOK |
| 20 | Prontor Invest AS | 59 | 94.7% | 32.4% | 1.58 | 13 MNOK |
Show all 61
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
- Finance earns 58.3% on operations; the typical Norwegian industry makes 5.7%No. 11 of 22 on median operating margin
Scenario analysis: the sector's weakest year
The sector's weakest year was 2026, with a median operating margin of 4.0%.
Based on the 8 fiscal years we have. The analysis grows as more years are fetched or imported.
| Fiscal year | Median operating margin | Median equity ratio |
|---|---|---|
| 2019 | – | – |
| 2020 | – | – |
| 2021 | – | – |
| 2022 | 6.6% | 27.8% |
| 2023 | 5.2% | 35.0% |
| 2024 | 5.1% | 33.6% |
| 2025 | 5.5% | 33.2% |
| 2026 · weakest year | 4.0% | 39.9% |
In 2026, 13 ranked companies did better than the sector, 9 about the same and 3 weaker.
Held up best in 2026
- 1H5p Group ASequity ratio 39.9%29.5%
- 2Accigo ASequity ratio 7.6%29.0%
- 3Sanity ASequity ratio 39.9%22.5%
- 4Ntt Data Business Solutions ASequity ratio 30.4%11.5%
- 5Dxc Technology Norge ASequity ratio 57.2%9.9%
- 6Neatframe ASequity ratio 48.7%9.7%
- 7Autodesk Norway Operations ASequity ratio 51.5%7.4%
- 8Arm Norway ASequity ratio 48.8%6.6%
- 9Sony Music Entertainment Norway ASequity ratio 48.0%6.0%
- 10Stratsys Norge ASequity ratio 33.4%5.1%
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.
USD/NOK (kr)
USD/NOK fell 3.3% in 2025; the sector's median operating margin rose 0.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| USD/NOK, annual average | 8.59 | 9.61 | 10.56 | 10.75 | 10.39 | 9.54 (so far) |
| Change from the year before | −8.8% | +11.9% | +9.9% | +1.7% | −3.3% | −8.2% |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: Norges Bank (EXR, NLOD 2.0). Source · fetched 3 November 2026
Policy rate (prosent)
Policy rate fell 0.20 percentage points in 2025; the sector's median operating margin rose 0.4 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 |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: Norges Bank (IR, NLOD 2.0). Source · fetched 3 November 2026
Consumer price index (indeks (2025 = 100))
Consumer price index rose 3.0% in 2025; the sector's median operating margin rose 0.4 percentage points.
| Measure | 2021 | 2022 | 2023 | 2024 | 2025 | 2026 |
|---|---|---|---|---|---|---|
| Consumer price index, annual average | 84.3 | 89.2 | 94.1 | 97.0 | 100.0 | 102.9 (so far) |
| Change from the year before | +3.5% | +5.8% | +5.5% | +3.2% | +3.0% | +2.9% |
| Sector's median operating margin | – | 6.6% | 5.2% | 5.1% | 5.5% | 4.0% |
Source: SSB (14710, CC BY 4.0). Source · fetched 3 November 2026
When USD/NOK fell in 2025, 1,171 of 2,233 ranked companies kept their operating margin at or above the year before. Among the largest: Telenor Norge AS (19.4% → 21.9%), Telia Norge AS (2.4% → 20.2%), Norsk Rikskringkasting AS (−3.3% → −1.6%), TV 2 AS (3.0% → 3.8%), Tiktok Norway AS (6.9% → 7.8%).
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
- 23,538
- +3.5% from 2023
- Persons employed
- 113,952
- +0.6% from 2023
- Turnover
- NOK 424.7 bn
- +10.2% from 2023
- Gross operating margin
- 14.6%
- Gross operating surplus divided by turnover
All enterprises, sole proprietorships included.
Bankruptcies in the industry
156 enterprise bankruptcies in the last four quarters (2025K4–2026K3). Change −13.8% against the four quarters before (181). That is about 6.6 per 1,000 enterprises.
Foreign-controlled enterprises · 2024
- Share of enterprises
- 5.7%
- Share of persons employed
- 40.1%
- Share of turnover
- 50.3%
SSB publishes this for groups of industries only. The figures are for the group “Informasjon og kommunikasjon”.
Turnover index · Informasjon og kommunikasjon
142.3 index, 2021 = 100, seasonally adjusted · 2026M08
+0.9% against 2025M08.
Monthly, 2023M08 to 2026M08.
Source: Statistics Norway (SSB), table 12910, table 10790, table 08085, table 13863. 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
- TO BE OR Not AS 972408654 Voluntary liquidation · 3 November 2026 · 0 MNOK (2025)
- Fmiopt AS 836010302 Voluntary liquidation · 2 November 2026 · 0 MNOK (2025)
- Scientio AS 928658678 Forced dissolution · 2 November 2026 · 0 MNOK (2023)
- Seko Data AS 984603509 Bankruptcy · 2 November 2026 · 0 MNOK (2025)
- TRUST IT. AS 988530956 Bankruptcy · 2 November 2026 · 0 MNOK (2024)
- Xybel AS 921902050 Voluntary liquidation · 2 November 2026 · 1 MNOK (2025)
- Cousin AS 935903386 Voluntary liquidation · 31 October 2026
- Fintech Solutions AS 923534881 Voluntary liquidation · 31 October 2026 · 1 MNOK (2025)
Industry codes (NACE)
| Code | Description |
|---|---|
| 58* | Hele hovedgruppe 58 |
| 58.110 | Utgivelse av bøker |
| 58.120 | Utgivelse av aviser |
| 58.130 | Utgivelse av blader og tidsskrifter |
| 58.190 | Utgivelsesvirksomhet ellers, unntatt utgivelse av programvare |
| 58.210 | Utgivelse av programvare for dataspill |
| 58.290 | Utgivelse av annen programvare |
| 59* | Hele hovedgruppe 59 |
| 59.110 | Produksjon av film, video og fjernsynsprogrammer |
| 59.120 | Etterarbeid knyttet til produksjon av film, video og fjernsynsprogrammer |
| 59.130 | Distribusjon av film og video |
| 59.140 | Filmfremvisning |
| 59.200 | Produksjon og utgivelse av musikk- og lydopptak |
| 60* | Hele hovedgruppe 60 |
| 60.100 | Radiokringkasting og distribuering av musikk og andre lydmedier |
| 60.200 | Fjernsynsprogramvirksomhet, kringkasting og distribuering av audiovisuelle medier |
| 60.310 | Nyhetsbyråvirksomhet |
| 60.390 | Annen virksomhet for distribuering av innhold |
| 61* | Hele hovedgruppe 61 |
| 61.100 | Kabelbasert, satellittbasert og trådløs telekommunikasjon |
| 61.200 | Videresalg av telekommunikasjon og formidlingstjenester tilknyttet telekommunikasjon |
| 61.900 | Telekommunikasjon ellers |
| 62* | Hele hovedgruppe 62 |
| 62.100 | Dataprogrammeringstjenester |
| 62.200 | Konsulentvirksomhet tilknyttet informasjonsteknologi og forvaltning og drift av it-systemer |
| 62.900 | Andre tjenester tilknyttet informasjonsteknologi |
| 63* | Hele hovedgruppe 63 |
| 63.100 | Datainfrastruktur, -behandling, -lagring og tilknyttede tjenester |
| 63.910 | Drift av søkemotorer |
| 63.920 | Andre informasjonstjenester |