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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedSep 07, 2024
DataAggregated Company Financials
Companies325
  • 7D-3.8%
  • 3M-3.5%
  • 1Y-0.3%
  • YTD-0.9%

Over the last 7 days, the market has dropped 3.8%, driven by a pullback of 5.3% in the Energy sector. In the last 12 months the market has been flat overall. Looking forward, earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Sep 2024NOK 3.7tNOK 3.3tNOK 308.9b11x11.9x1.1x
Tue, 06 Aug 2024NOK 3.7tNOK 3.4tNOK 302.0b10.7x12.1x1.1x
Thu, 04 Jul 2024NOK 3.9tNOK 3.3tNOK 284.2b11.4x13.6x1.2x
Sat, 01 Jun 2024NOK 4.1tNOK 3.3tNOK 280.0b11.5x14.6x1.2x
Mon, 29 Apr 2024NOK 4.0tNOK 3.4tNOK 277.7b11.4x14.4x1.2x
Wed, 27 Mar 2024NOK 3.9tNOK 3.4tNOK 302.2b11.6x13x1.2x
Fri, 23 Feb 2024NOK 3.8tNOK 3.3tNOK 265.9b11.6x14.2x1.1x
Sun, 21 Jan 2024NOK 3.9tNOK 3.5tNOK 349.5b10.8x11.3x1.1x
Tue, 19 Dec 2023NOK 4.0tNOK 3.5tNOK 348.6b10.5x11.5x1.1x
Thu, 16 Nov 2023NOK 4.1tNOK 3.6tNOK 359.4b10.3x11.3x1.1x
Sat, 14 Oct 2023NOK 4.1tNOK 3.8tNOK 424.1b10.7x9.7x1.1x
Mon, 11 Sep 2023NOK 4.0tNOK 3.8tNOK 414.4b10.8x9.6x1.1x
Wed, 09 Aug 2023NOK 3.8tNOK 3.6tNOK 406.0b10.7x9.4x1.1x
Fri, 07 Jul 2023NOK 3.8tNOK 3.9tNOK 505.1b11x7.5x1x
Sun, 04 Jun 2023NOK 3.9tNOK 3.9tNOK 520.8b11.5x7.4x1x
Tue, 02 May 2023NOK 4.0tNOK 3.7tNOK 546.7b11.7x7.3x1.1x
Thu, 30 Mar 2023NOK 3.8tNOK 3.8tNOK 544.2b11.6x7x1x
Sat, 25 Feb 2023NOK 4.0tNOK 3.7tNOK 578.2b11.7x7x1.1x
Mon, 23 Jan 2023NOK 3.9tNOK 3.6tNOK 485.8b11.6x8.1x1.1x
Wed, 21 Dec 2022NOK 4.0tNOK 3.6tNOK 485.9b11.4x8.2x1.1x
Fri, 18 Nov 2022NOK 4.0tNOK 3.6tNOK 492.2b11.7x8.1x1.1x
Sun, 16 Oct 2022NOK 3.8tNOK 3.4tNOK 393.1b11.9x9.7x1.1x
Tue, 13 Sep 2022NOK 4.1tNOK 3.3tNOK 370.9b12.7x11.1x1.3x
Thu, 11 Aug 2022NOK 4.2tNOK 3.1tNOK 337.4b12.5x12.4x1.3x
Sat, 09 Jul 2022NOK 4.0tNOK 3.0tNOK 298.3b12x13.4x1.3x
Mon, 06 Jun 2022NOK 4.2tNOK 2.9tNOK 283.8b13.4x14.8x1.5x
Wed, 04 May 2022NOK 4.1tNOK 2.7tNOK 219.1b14.2x18.8x1.5x
Fri, 01 Apr 2022NOK 4.2tNOK 2.5tNOK 195.8b14.8x21.6x1.7x
Sun, 27 Feb 2022NOK 3.9tNOK 2.5tNOK 198.6b14x19.8x1.6x
Tue, 25 Jan 2022NOK 3.8tNOK 2.2tNOK 152.7b15.3x24.9x1.7x
Thu, 23 Dec 2021NOK 3.6tNOK 2.1tNOK 128.7b14.3x28.3x1.7x
Sat, 20 Nov 2021NOK 4.0tNOK 2.2tNOK 152.1b14.3x26.3x1.8x
Mon, 18 Oct 2021NOK 3.8tNOK 2.0tNOK 116.1b13.3x33x1.9x
Wed, 15 Sep 2021NOK 3.7tNOK 2.0tNOK 115.0b13.7x31.8x1.8x
Price to Earnings Ratio

31.8x


Total Market Cap: NOK 3.7tTotal Earnings: NOK 115.0bTotal Revenue: NOK 2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 30.5x202220232024
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 11.9x which is lower than its 3-year average PE of 30.5x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 39% per year over the last three years.
  • Revenues for these companies have grown 19% 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-3.77%
Telecom1.40%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Consumer Staples-0.27%
Real Estate-1.23%
Financials-2.35%
Consumer Discretionary-2.96%
Utilities-4.19%
Healthcare-5.30%
Energy-5.31%
Industrials-5.38%
Tech-5.54%
Materials-5.74%
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 486x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 46.1% which is higher than its past year's earnings decline of 14.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 77% over the next 5 years.
  • This is better than its past earnings decline of 77% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 22% 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
TEL TelenorNOK 134.902.6%
+NOK 4.7b		20.8%PE20.3xTelecom
ORK OrklaNOK 97.503.5%
+NOK 3.3b		21.0%PE16.1xConsumer Staples
WAWI Wallenius WilhelmsenNOK 112.902.9%
+NOK 1.4b		29.0%PE4.9xIndustrials
GJF Gjensidige ForsikringNOK 189.200.7%
+NOK 650.0m		17.4%PE23.2xFinancials
BAKKA P/F BakkafrostNOK 585.001.8%
+NOK 622.2m		9.6%PE24.1xConsumer Staples
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NOK 112.90

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2.9%

1Y

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MEDI

NOK 184.00

Medistim

7D

7.9%

1Y

-18.2%

VAR

NOK 33.47

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1Y

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DNB

NOK 215.60

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1Y

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NHY

NOK 55.50

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-6.6%

1Y

-5.6%

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BAKKA

NOK 585.00

P/F Bakkafrost

7D

1.8%

1Y

9.6%

ORK

NOK 97.50

Orkla

7D

3.5%

1Y

21.0%

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HAFNI

NOK 75.90

Hafnia

7D

-11.7%

1Y

20.3%

GSF

NOK 53.95

Grieg Seafood

7D

6.8%

1Y

-31.1%

EQNR

NOK 269.95

Equinor

7D

-4.1%

1Y

-22.1%

TEL

NOK 134.90

Telenor

7D

2.6%

1Y

20.8%

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KOG

NOK 1,057.00

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-5.8%

1Y

118.4%

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GJF

NOK 189.20

Gjensidige Forsikring

7D

0.7%

1Y

17.4%

AKRBP

NOK 230.30

Aker BP

7D

-9.3%

1Y

-22.8%

ADE

NOK 114.20

Adevinta

7D

0.4%

1Y

41.5%