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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies282
  • 7D2.6%
  • 3M12.6%
  • 1Y15.0%
  • YTD6.2%

The market is up 2.6% in the last 7 days, led by the Industrials and Financials sectors. Meanwhile, the Healthcare sector has underperformed, shrinking 3.2% in that time. As for the past 12 months, the market is up 15%. As for the next few years, earnings are expected to grow by 16% 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
Sat, 07 Feb 2026NOK 4.5tNOK 3.2tNOK 251.4b15x18.1x1.4x
Mon, 05 Jan 2026NOK 4.3tNOK 3.3tNOK 267.6b14.6x16x1.3x
Wed, 03 Dec 2025NOK 4.1tNOK 3.3tNOK 273.6b13.3x14.8x1.2x
Fri, 31 Oct 2025NOK 4.1tNOK 3.3tNOK 266.9b12.5x15.2x1.2x
Sun, 28 Sep 2025NOK 4.2tNOK 3.2tNOK 294.3b12.5x14.4x1.3x
Tue, 26 Aug 2025NOK 4.2tNOK 3.3tNOK 300.5b13.1x13.9x1.3x
Thu, 24 Jul 2025NOK 4.1tNOK 3.3tNOK 308.1b13x13.2x1.3x
Sat, 21 Jun 2025NOK 4.1tNOK 3.2tNOK 302.7b12.3x13.6x1.3x
Mon, 19 May 2025NOK 3.9tNOK 3.3tNOK 310.4b12x12.6x1.2x
Wed, 16 Apr 2025NOK 3.7tNOK 3.3tNOK 318.5b11.8x11.7x1.1x
Fri, 14 Mar 2025NOK 3.8tNOK 3.2tNOK 322.9b11.6x11.9x1.2x
Sun, 09 Feb 2025NOK 3.8tNOK 3.4tNOK 312.3b12x12.3x1.1x
Tue, 07 Jan 2025NOK 3.8tNOK 3.5tNOK 337.6b12x11.3x1.1x
Thu, 05 Dec 2024NOK 3.8tNOK 3.4tNOK 334.8b11.2x11.4x1.1x
Sat, 02 Nov 2024NOK 3.8tNOK 3.4tNOK 328.2b11x11.4x1.1x
Mon, 30 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.1x12.2x1.1x
Wed, 28 Aug 2024NOK 3.8tNOK 3.3tNOK 303.6b11.2x12.6x1.2x
Fri, 26 Jul 2024NOK 3.8tNOK 3.4tNOK 301.4b11x12.7x1.1x
Sun, 23 Jun 2024NOK 3.8tNOK 3.3tNOK 285.3b11.2x13.5x1.2x
Tue, 21 May 2024NOK 4.1tNOK 3.3tNOK 283.7b11.6x14.3x1.2x
Thu, 18 Apr 2024NOK 4.0tNOK 3.4tNOK 303.6b11.4x13.1x1.2x
Sat, 16 Mar 2024NOK 3.9tNOK 3.4tNOK 290.3b11.1x13.3x1.1x
Mon, 12 Feb 2024NOK 3.8tNOK 3.3tNOK 275.8b11.7x13.6x1.1x
Wed, 10 Jan 2024NOK 4.0tNOK 3.5tNOK 346.1b10.7x11.6x1.2x
Fri, 08 Dec 2023NOK 4.0tNOK 3.6tNOK 360.1b10.2x11.1x1.1x
Sun, 05 Nov 2023NOK 4.0tNOK 3.6tNOK 366.7b10.6x11x1.1x
Tue, 03 Oct 2023NOK 4.0tNOK 3.8tNOK 419.9b10.6x9.6x1.1x
Thu, 31 Aug 2023NOK 3.9tNOK 3.7tNOK 408.2b10.3x9.6x1.1x
Sat, 29 Jul 2023NOK 3.8tNOK 3.6tNOK 401.7b11.1x9.6x1.1x
Mon, 26 Jun 2023NOK 3.8tNOK 3.9tNOK 507.9b11.2x7.5x1x
Wed, 24 May 2023NOK 3.9tNOK 3.9tNOK 560.8b11.5x7x1x
Fri, 21 Apr 2023NOK 4.0tNOK 3.8tNOK 547.7b11.7x7.2x1x
Sun, 19 Mar 2023NOK 3.7tNOK 3.8tNOK 554.0b11.7x6.7x1x
Tue, 14 Feb 2023NOK 4.1tNOK 3.7tNOK 572.6b11.6x7.1x1.1x
Price to Earnings Ratio

7.1x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 572.6bTotal Revenue: NOK 3.7tTotal 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 18.1x 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 24% per year over the last three years.
  • Revenues have also declined 4.5% 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 Market2.65%
Telecom5.20%
Industrials4.87%
Financials3.63%
Consumer Staples3.55%
Tech1.38%
Materials1.24%
Energy1.00%
Real Estate-0.28%
Utilities-0.74%
Consumer Discretionary-1.29%
Healthcare-3.18%
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 31.6%, 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 371.5012.4%
+NOK 36.0b		53.8%PE46.3xIndustrials
EQNR EquinorNOK 265.703.4%
+NOK 21.4b		0.6%PE13.6xEnergy
DNB DNB BankNOK 290.304.9%
+NOK 19.8b		20.9%PB1.4xFinancials
TEL TelenorNOK 173.507.1%
+NOK 15.7b		24.1%PE23.4xTelecom
ORK OrklaNOK 120.905.9%
+NOK 6.4b		16.6%PE18.5xConsumer Staples
See more

Market Insights

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NOK 265.70
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7D
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1Y
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