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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 16, 2025
DataAggregated Company Financials
Companies310
  • 7D-0.3%
  • 3M1.2%
  • 1Y8.6%
  • YTD0.5%

In the last week, the market has stayed flat, however the Consumer Staples sector stood out, gaining 3.8%. As for the longer term, the market has risen 8.6% in the past 12 months. As for the next few years, earnings are expected to grow by 9.2% 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
Sun, 16 Feb 2025NOK 3.8tNOK 3.3tNOK 327.6b11.1x11.7x1.1x
Tue, 14 Jan 2025NOK 3.9tNOK 3.5tNOK 340.4b11.9x11.3x1.1x
Thu, 12 Dec 2024NOK 3.8tNOK 3.4tNOK 336.6b11.4x11.2x1.1x
Sat, 09 Nov 2024NOK 3.7tNOK 3.4tNOK 325.5b11.5x11.3x1.1x
Mon, 07 Oct 2024NOK 3.8tNOK 3.3tNOK 307.1b11.2x12.4x1.2x
Wed, 04 Sep 2024NOK 3.7tNOK 3.3tNOK 308.3b11.5x12x1.1x
Fri, 02 Aug 2024NOK 3.9tNOK 3.3tNOK 300.2b11.1x13x1.2x
Sun, 30 Jun 2024NOK 3.9tNOK 3.3tNOK 286.6b11.3x13.6x1.2x
Tue, 28 May 2024NOK 4.1tNOK 3.3tNOK 281.1b11.6x14.6x1.3x
Thu, 25 Apr 2024NOK 4.0tNOK 3.4tNOK 302.4b11.5x13.1x1.2x
Sat, 23 Mar 2024NOK 3.9tNOK 3.4tNOK 294.8b11.3x13.3x1.2x
Mon, 19 Feb 2024NOK 3.8tNOK 3.3tNOK 265.8b11.8x14.2x1.1x
Wed, 17 Jan 2024NOK 4.0tNOK 3.5tNOK 349.2b10.8x11.4x1.1x
Fri, 15 Dec 2023NOK 4.0tNOK 3.5tNOK 349.8b10.3x11.5x1.1x
Sun, 12 Nov 2023NOK 4.0tNOK 3.6tNOK 368.4b10.3x11x1.1x
Tue, 10 Oct 2023NOK 4.0tNOK 3.8tNOK 418.7b10.7x9.6x1.1x
Thu, 07 Sep 2023NOK 4.0tNOK 3.8tNOK 416.2b10.6x9.6x1.1x
Sat, 05 Aug 2023NOK 3.9tNOK 3.6tNOK 400.0b11.1x9.7x1.1x
Mon, 03 Jul 2023NOK 3.8tNOK 3.8tNOK 504.4b11.2x7.6x1x
Wed, 31 May 2023NOK 3.8tNOK 3.9tNOK 529.1b11.4x7.2x1x
Fri, 28 Apr 2023NOK 3.9tNOK 3.8tNOK 545.6b11.8x7.2x1x
Sun, 26 Mar 2023NOK 3.7tNOK 3.8tNOK 548.6b11.6x6.8x1x
Tue, 21 Feb 2023NOK 4.1tNOK 3.7tNOK 570.6b11.4x7.1x1.1x
Thu, 19 Jan 2023NOK 4.0tNOK 3.6tNOK 486.0b11.8x8.1x1.1x
Sat, 17 Dec 2022NOK 4.0tNOK 3.6tNOK 486.3b11.6x8.1x1.1x
Mon, 14 Nov 2022NOK 4.0tNOK 3.6tNOK 482.3b12.2x8.4x1.1x
Wed, 12 Oct 2022NOK 3.8tNOK 3.4tNOK 394.2b11.9x9.7x1.1x
Fri, 09 Sep 2022NOK 4.0tNOK 3.3tNOK 378.1b12.4x10.6x1.2x
Sun, 07 Aug 2022NOK 4.2tNOK 3.2tNOK 347.1b12.6x12x1.3x
Tue, 05 Jul 2022NOK 4.1tNOK 3.0tNOK 294.2b12.5x13.8x1.4x
Thu, 02 Jun 2022NOK 4.2tNOK 2.9tNOK 283.0b13.3x14.9x1.5x
Sat, 30 Apr 2022NOK 4.1tNOK 2.6tNOK 214.6b14.1x19.2x1.6x
Mon, 28 Mar 2022NOK 4.2tNOK 2.5tNOK 196.8b14.4x21.6x1.7x
Wed, 23 Feb 2022NOK 3.9tNOK 2.5tNOK 207.8b14.4x18.8x1.6x
Price to Earnings Ratio

18.8x


Total Market Cap: NOK 3.9tTotal Earnings: NOK 207.8bTotal Revenue: NOK 2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.6x202320242025
Current Market PE
  • Investors are relatively neutral on the Norwegian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 11.6x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 16% per year over the last three years.
  • Revenues for these companies have grown 10% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market-0.26%
Consumer Staples3.76%
Real Estate1.90%
Healthcare1.04%
Consumer Discretionary0.86%
Utilities0.53%
Materials0.39%
Industrials0.34%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Tech-0.24%
Telecom-0.35%
Financials-1.20%
Energy-1.67%
Sector PE
  • Investors favour the Real Estate sector the most for future growth which is trading above its 3-year average PE ratio.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 51.5% which is higher than its past year's earnings decline of 27.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 24% 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
TOM Tomra SystemsNOK 190.4016.6%
+NOK 8.0b		43.9%PE51.9xIndustrials
AUTO AutoStore HoldingsNOK 11.3113.5%
+NOK 4.5b		-33.6%PE24.9xIndustrials
SALM SalMarNOK 599.506.0%
+NOK 4.5b		-5.2%PE24.1xConsumer Staples
ORK OrklaNOK 107.503.7%
+NOK 3.8b		43.3%PE17.7xConsumer Staples
MOWI MowiNOK 222.503.1%
+NOK 3.5b		10.2%PE21.1xConsumer Staples
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STB

NOK 122.60

Storebrand

7D

-8.2%

1Y

30.0%

Storebrand's (OB:STB) Dividend Will Be Increased To NOK4.70

Feb 16
Storebrand's (OB:STB) Dividend Will Be Increased To NOK4.70

TOM

NOK 190.40

Tomra Systems

7D

16.6%

1Y

43.9%

NHY

NOK 65.82

Norsk Hydro

7D

-2.9%

1Y

12.9%

SPOL

NOK 161.94

SpareBank 1 Østlandet

7D

-1.5%

1Y

29.3%

MOWI

NOK 222.50

Mowi

7D

3.1%

1Y

10.2%

ORK

NOK 107.50

Orkla

7D

3.7%

1Y

43.3%

WAWI

NOK 97.90

Wallenius Wilhelmsen

7D

7.5%

1Y

-6.2%

These 4 Measures Indicate That Wallenius Wilhelmsen (OB:WAWI) Is Using Debt Reasonably Well

Feb 15
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SUBC

NOK 181.10

Subsea 7

7D

-2.4%

1Y

28.6%

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Feb 15
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KOG

NOK 1,151.00

Kongsberg Gruppen

7D

-4.7%

1Y

75.7%

We Think Kongsberg Gruppen's (OB:KOG) Robust Earnings Are Conservative

Feb 15
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SALM

NOK 599.50

SalMar

7D

6.0%

1Y

-5.2%

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Feb 14
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CADLR

NOK 53.60

Cadeler

7D

-11.6%

1Y

20.2%

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Feb 14
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AUTO

NOK 11.31

AutoStore Holdings

7D

13.5%

1Y

-33.6%

YAR

NOK 323.10

Yara International

7D

4.1%

1Y

-9.0%

TEL

NOK 138.60

Telenor

7D

-0.9%

1Y

21.4%

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Feb 10
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HAUTO

NOK 94.90

Höegh Autoliners

7D

-9.0%

1Y

-26.5%

EQNR

NOK 257.70

Equinor

7D

-2.5%

1Y

-3.1%