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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedAug 11, 2025
DataAggregated Company Financials
Companies296
  • 7D0.8%
  • 3M6.0%
  • 1Y7.3%
  • YTD5.6%

The Consumer Staples sector gained 4.9% while the market remained flat over the last week. As for the longer term, the market has risen 7.3% in the past 12 months. As for the next few years, earnings are expected to grow by 11% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Norwegian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 11 Aug 2025NOK 4.1tNOK 3.3tNOK 307.9b13.1x13.3x1.2x
Wed, 09 Jul 2025NOK 4.0tNOK 3.2tNOK 302.8b12.7x13.3x1.2x
Fri, 06 Jun 2025NOK 3.9tNOK 3.2tNOK 301.8b12.2x13.1x1.2x
Sun, 04 May 2025NOK 3.8tNOK 3.3tNOK 325.0b11.9x11.7x1.1x
Tue, 01 Apr 2025NOK 3.9tNOK 3.3tNOK 319.6b12.1x12.3x1.2x
Thu, 27 Feb 2025NOK 3.9tNOK 3.3tNOK 334.9b11.5x11.5x1.2x
Sat, 25 Jan 2025NOK 3.8tNOK 3.4tNOK 335.1b12.1x11.5x1.1x
Mon, 23 Dec 2024NOK 3.6tNOK 3.5tNOK 340.0b11.4x10.7x1x
Wed, 20 Nov 2024NOK 3.7tNOK 3.4tNOK 328.7b10.5x11.4x1.1x
Fri, 18 Oct 2024NOK 3.8tNOK 3.3tNOK 315.2b11.1x12x1.1x
Sun, 15 Sep 2024NOK 3.7tNOK 3.3tNOK 308.4b11.2x12.1x1.1x
Tue, 13 Aug 2024NOK 3.8tNOK 3.3tNOK 298.9b10.9x12.8x1.2x
Thu, 11 Jul 2024NOK 3.8tNOK 3.3tNOK 286.8b11.2x13.3x1.2x
Sat, 08 Jun 2024NOK 3.9tNOK 3.3tNOK 287.7b11.4x13.6x1.2x
Mon, 06 May 2024NOK 4.0tNOK 3.3tNOK 287.8b11.5x13.8x1.2x
Wed, 03 Apr 2024NOK 4.0tNOK 3.4tNOK 299.9b12x13.2x1.2x
Fri, 01 Mar 2024NOK 3.8tNOK 3.3tNOK 272.5b11.4x13.8x1.1x
Sun, 28 Jan 2024NOK 4.0tNOK 3.5tNOK 346.7b11.2x11.5x1.1x
Tue, 26 Dec 2023NOK 4.0tNOK 3.5tNOK 344.0b10.5x11.7x1.2x
Thu, 23 Nov 2023NOK 4.0tNOK 3.6tNOK 358.2b10x11.1x1.1x
Sat, 21 Oct 2023NOK 4.0tNOK 3.8tNOK 427.6b10.7x9.4x1.1x
Mon, 18 Sep 2023NOK 4.1tNOK 3.8tNOK 418.3b10.6x9.7x1.1x
Wed, 16 Aug 2023NOK 3.9tNOK 3.7tNOK 413.1b11.4x9.5x1.1x
Fri, 14 Jul 2023NOK 3.8tNOK 3.7tNOK 476.2b10.8x8x1x
Sun, 11 Jun 2023NOK 3.9tNOK 3.8tNOK 510.0b11.5x7.6x1x
Tue, 09 May 2023NOK 3.9tNOK 3.7tNOK 540.8b11.7x7.3x1.1x
Thu, 06 Apr 2023NOK 3.9tNOK 3.7tNOK 538.0b11.6x7.3x1x
Sat, 04 Mar 2023NOK 4.1tNOK 3.7tNOK 549.9b11.9x7.5x1.1x
Mon, 30 Jan 2023NOK 4.0tNOK 3.6tNOK 486.0b11.8x8.1x1.1x
Wed, 28 Dec 2022NOK 4.0tNOK 3.6tNOK 483.2b11.5x8.3x1.1x
Fri, 25 Nov 2022NOK 4.1tNOK 3.6tNOK 485.7b10.8x8.4x1.1x
Sun, 23 Oct 2022NOK 3.9tNOK 3.4tNOK 395.2b11.6x9.7x1.1x
Tue, 20 Sep 2022NOK 4.0tNOK 3.3tNOK 382.2b12.6x10.3x1.2x
Thu, 18 Aug 2022NOK 4.2tNOK 3.2tNOK 344.3b12.7x12.2x1.3x
Price to Earnings Ratio

12.2x


Total Market Cap: NOK 4.2tTotal Earnings: NOK 344.3bTotal Revenue: NOK 3.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 10.9x202320242025
Current Market PE
  • Investors are optimistic on the Norwegian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 13.3x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have declined 3.7% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market0.79%
Consumer Staples4.86%
Consumer Discretionary3.08%
Financials1.94%
Materials1.14%
Utilities0.95%
Real Estate0.88%
Industrials0.81%
Telecom-0.41%
Tech-0.70%
Energy-0.85%
Healthcare-0.92%
Sector PE
  • Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 354x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 37.0%, which is higher than its past year's earnings growth of 0.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 60% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 11% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
GJF Gjensidige ForsikringNOK 282.604.4%
+NOK 5.9b		55.3%PE22.3xFinancials
SALM SalMarNOK 466.2010.2%
+NOK 5.8b		-25.8%PE34.7xConsumer Staples
NHY Norsk HydroNOK 64.344.2%
+NOK 5.1b		12.1%PE13.3xMaterials
MOWI MowiNOK 202.004.8%
+NOK 4.8b		9.6%PE26.8xConsumer Staples
COSH Constellation Oil Services HoldingNOK 83.103.9%
+NOK 4.7b		n/aPS22.7xEnergy
See more

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TEL
NOK 159.70
Telenor
7D
-0.9%
1Y
26.1%
GJF
NOK 282.60
Gjensidige Forsikring
7D
4.4%
1Y
55.3%
DNB
NOK 265.70
DNB Bank
7D
0.7%
1Y
23.8%
COSH
NOK 83.10
Constellation Oil Services Holding
7D
3.9%
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n/a