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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedDec 23, 2024
DataAggregated Company Financials
Companies317
  • 7D-1.8%
  • 3M-2.2%
  • 1Y-0.8%
  • YTD-1.7%

Over the last 7 days, the market has dropped 2.8%, driven by declines in the Consumer Staples and Energy sectors of 6.3% and 1.8%, respectively. Although the market performance has been flat over the past year. Looking forward, earnings are forecast to grow by 9.6% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sat, 16 Jul 2022NOK 3.9tNOK 3.0tNOK 300.6b12x13x1.3x
Mon, 13 Jun 2022NOK 4.1tNOK 2.9tNOK 290.3b13x14.2x1.4x
Wed, 11 May 2022NOK 3.9tNOK 2.9tNOK 243.4b13.4x16.1x1.4x
Fri, 08 Apr 2022NOK 4.2tNOK 2.5tNOK 196.4b14.5x21.4x1.7x
Sun, 06 Mar 2022NOK 4.1tNOK 2.5tNOK 203.1b13.7x20.4x1.6x
Tue, 01 Feb 2022NOK 3.9tNOK 2.2tNOK 153.8b14.4x25.4x1.8x
Thu, 30 Dec 2021NOK 3.7tNOK 2.1tNOK 127.9b15.3x28.8x1.7x
Price to Earnings Ratio

28.8x


Total Market Cap: NOK 3.7tTotal Earnings: NOK 127.9bTotal Revenue: NOK 2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 28.7x202220232024
Current Market PE
  • Investors are pessimistic on the Norwegian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 10.7x which is lower than its 3-year average PE of 28.7x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 38% per year over the last three years.
  • Revenues for these companies have grown 18% 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-1.77%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Healthcare-0.052%
Utilities-0.48%
Energy-0.51%
Real Estate-0.83%
Tech-1.19%
Industrials-1.48%
Financials-1.76%
Consumer Discretionary-1.87%
Telecom-2.84%
Consumer Staples-3.94%
Materials-4.52%
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 421x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 42.4% which is higher than its past year's earnings decline of 9.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 63% over the next 5 years.
  • This is better than its past earnings decline of 81% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 28% 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 150.803.6%
+NOK 1.6b		26.8%PE73.5xIndustrials
EQNR EquinorNOK 254.450.2%
+NOK 1.5b		-21.7%PE6.5xEnergy
BELCO BelshipsNOK 20.2526.2%
+NOK 1.1b		7.5%PE6.6xIndustrials
VAR Vår EnergiNOK 34.010.9%
+NOK 748.9m		5.5%PE13xEnergy
ADE AdevintaNOK 114.200.4%
+NOK 487.3m		41.5%PS6.5xTelecom
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7 Investing Lessons From 2024

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Richard Bowman
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This is our last newsletter of the year and a good time to focus on the third of those principles - the investing lessons we can all take from 2024...

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BELCO

NOK 20.25

Belships

7D

26.2%

1Y

7.5%

TOM

NOK 150.80

Tomra Systems

7D

3.6%

1Y

26.8%

YAR

NOK 299.60

Yara International

7D

-6.3%

1Y

-17.1%

Is Yara International (OB:YAR) A Risky Investment?

Dec 19
Is Yara International (OB:YAR) A Risky Investment?

NHY

NOK 62.36

Norsk Hydro

7D

-4.3%

1Y

-8.7%

DNB

NOK 224.20

DNB Bank

7D

-2.3%

1Y

6.2%

Do DNB Bank's (OB:DNB) Earnings Warrant Your Attention?

Dec 17
Do DNB Bank's (OB:DNB) Earnings Warrant Your Attention?

SALM

NOK 539.50

SalMar

7D

-7.1%

1Y

0.3%

VAR

NOK 34.01

Vår Energi

7D

0.9%

1Y

5.5%

CLCO

NOK 85.85

Cool

7D

8.5%

1Y

-33.4%

Investors Don't See Light At End Of Cool Company Ltd.'s (OB:CLCO) Tunnel And Push Stock Down 27%

Dec 08
Investors Don't See Light At End Of Cool Company Ltd.'s (OB:CLCO) Tunnel And Push Stock Down 27%

PLSV

NOK 44.92

Paratus Energy Services

7D

4.5%

1Y

n/a

Solid Earnings Reflect Paratus Energy Services' (OB:PLSV) Strength As A Business

Dec 07
Solid Earnings Reflect Paratus Energy Services' (OB:PLSV) Strength As A Business

SCHA

NOK 349.00

Schibsted

7D

-6.7%

1Y

19.5%

KOG

NOK 1,269.00

Kongsberg Gruppen

7D

-1.7%

1Y

177.1%

Is Kongsberg Gruppen (OB:KOG) Using Too Much Debt?

Dec 05
Is Kongsberg Gruppen (OB:KOG) Using Too Much Debt?

EQNR

NOK 254.45

Equinor

7D

0.2%

1Y

-21.7%

Insufficient Growth At Equinor ASA (OB:EQNR) Hampers Share Price

Dec 01
Insufficient Growth At Equinor ASA (OB:EQNR) Hampers Share Price

MOWI

NOK 195.45

Mowi

7D

-3.7%

1Y

11.1%

OLT

NOK 225.00

Olav Thon Eiendomsselskap

7D

1.8%

1Y

26.1%

AKRBP

NOK 213.10

Aker BP

7D

-3.1%

1Y

-28.3%

ADE

NOK 114.20

Adevinta

7D

0.4%

1Y

41.5%