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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies282
  • 7D0.7%
  • 3M8.8%
  • 1Y9.7%
  • YTD3.1%

Over the last 7 days, the market has remained flat, although notably the Consumer Staples sector gained 3.8% in that time. As for the longer term, the market has risen 9.7% in the past 12 months. Looking forward, earnings are forecast to grow by 15% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026NOK 4.4tNOK 3.2tNOK 261.8b14.8x16.8x1.4x
Fri, 02 Jan 2026NOK 4.3tNOK 3.3tNOK 267.9b14.6x15.9x1.3x
Sun, 30 Nov 2025NOK 4.1tNOK 3.3tNOK 271.3b13.4x15x1.2x
Tue, 28 Oct 2025NOK 4.1tNOK 3.2tNOK 296.6b12.4x13.9x1.3x
Thu, 25 Sep 2025NOK 4.2tNOK 3.2tNOK 294.0b12.6x14.3x1.3x
Sat, 23 Aug 2025NOK 4.2tNOK 3.2tNOK 303.1b13.2x13.8x1.3x
Mon, 21 Jul 2025NOK 4.1tNOK 3.3tNOK 302.9b13x13.5x1.3x
Wed, 18 Jun 2025NOK 4.1tNOK 3.2tNOK 299.6b12.6x13.7x1.3x
Fri, 16 May 2025NOK 3.9tNOK 3.3tNOK 311.0b12.5x12.4x1.2x
Sun, 13 Apr 2025NOK 3.6tNOK 3.3tNOK 318.9b11.5x11.3x1.1x
Tue, 11 Mar 2025NOK 3.8tNOK 3.3tNOK 327.4b11.6x11.7x1.2x
Thu, 06 Feb 2025NOK 3.9tNOK 3.4tNOK 336.3b12x11.6x1.1x
Sat, 04 Jan 2025NOK 3.8tNOK 3.5tNOK 339.6b11.7x11.2x1.1x
Mon, 02 Dec 2024NOK 3.8tNOK 3.4tNOK 329.6b11.5x11.4x1.1x
Wed, 30 Oct 2024NOK 3.8tNOK 3.4tNOK 326.0b11.4x11.7x1.1x
Fri, 27 Sep 2024NOK 3.7tNOK 3.3tNOK 305.7b11.1x12x1.1x
Sun, 25 Aug 2024NOK 3.8tNOK 3.3tNOK 301.5b11.2x12.6x1.2x
Tue, 23 Jul 2024NOK 3.9tNOK 3.3tNOK 303.1b11.2x12.8x1.2x
Thu, 20 Jun 2024NOK 3.8tNOK 3.3tNOK 285.1b11.2x13.5x1.2x
Sat, 18 May 2024NOK 4.1tNOK 3.3tNOK 285.7b11.8x14.2x1.2x
Mon, 15 Apr 2024NOK 4.1tNOK 3.4tNOK 301.7b11.7x13.5x1.2x
Wed, 13 Mar 2024NOK 3.8tNOK 3.3tNOK 288.8b11.2x13.2x1.1x
Fri, 09 Feb 2024NOK 3.7tNOK 3.4tNOK 282.9b11.7x13.3x1.1x
Sun, 07 Jan 2024NOK 4.1tNOK 3.5tNOK 345.1b10.9x11.8x1.2x
Tue, 05 Dec 2023NOK 4.0tNOK 3.6tNOK 361.1b10.2x11.1x1.1x
Thu, 02 Nov 2023NOK 4.0tNOK 3.6tNOK 366.1b10.6x11.1x1.1x
Sat, 30 Sep 2023NOK 4.0tNOK 3.7tNOK 415.0b10.5x9.8x1.1x
Mon, 28 Aug 2023NOK 3.9tNOK 3.7tNOK 411.9b10.5x9.4x1x
Wed, 26 Jul 2023NOK 3.9tNOK 3.7tNOK 448.6b10.8x8.6x1x
Fri, 23 Jun 2023NOK 3.8tNOK 3.8tNOK 500.9b11.4x7.6x1x
Sun, 21 May 2023NOK 3.9tNOK 3.9tNOK 558.2b11.7x7x1x
Tue, 18 Apr 2023NOK 4.0tNOK 3.8tNOK 504.9b11.8x7.9x1.1x
Thu, 16 Mar 2023NOK 3.8tNOK 3.8tNOK 560.1b11.3x6.8x1x
Sat, 11 Feb 2023NOK 4.1tNOK 3.6tNOK 553.2b11.4x7.4x1.1x
Price to Earnings Ratio

7.4x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 553.2bTotal Revenue: NOK 3.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.8x202420252026
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 16.8x which is higher than its 3-year average PE of 11.8x.
Past Earnings Growth
  • The earnings for companies in the Norwegian industry have declined 22% per year over the last three years.
  • Revenues have also declined 4.3% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market0.70%
Consumer Staples3.84%
Industrials1.44%
Materials1.05%
Energy0.91%
Financials0.23%
Real Estate-0.078%
Telecom-1.72%
Utilities-2.35%
Consumer Discretionary-3.58%
Healthcare-3.72%
Tech-5.42%
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 276x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 32.9%, which is higher than its past year's earnings growth of 1.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 51% over the next 5 years.
  • This is better than its past earnings growth rate of 40% per year.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuationSector
KOG Kongsberg GruppenNOK 333.603.1%
+NOK 8.8b		25.8%PE41.6xIndustrials
MOWI MowiNOK 225.204.7%
+NOK 5.4b		2.7%PE26.3xConsumer Staples
SALM SalMarNOK 580.506.3%
+NOK 4.7b		1.7%PE68.3xConsumer Staples
WAWI Wallenius WilhelmsenNOK 115.707.4%
+NOK 3.4b		26.6%PE4.5xIndustrials
ORK OrklaNOK 116.103.1%
+NOK 3.3b		13.0%PE17.8xConsumer Staples
See more

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1Y
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WAWI
NOK 115.70
Wallenius Wilhelmsen
7D
7.4%
1Y
26.6%

Shareholders Would Enjoy A Repeat Of Wallenius Wilhelmsen's (OB:WAWI) Recent Growth In Returns

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NOK 297.50
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7D
-12.6%
1Y
2.2%
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NOK 333.60
Kongsberg Gruppen
7D
3.1%
1Y
25.8%
SALM
NOK 580.50
SalMar
7D
6.3%
1Y
1.7%

SalMar ASA (OB:SALM) Not Lagging Market On Growth Or Pricing

Jan 28
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MOWI
NOK 225.20
Mowi
7D
4.7%
1Y
2.7%

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EQNR
NOK 251.90
Equinor
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0.5%
1Y
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Norsk Hydro
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1.8%
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NOK 124.20
Tomra Systems
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-4.1%
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