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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedApr 11, 2026
DataAggregated Company Financials
Companies279
  • 7D-0.9%
  • 3M19.9%
  • 1Y37.6%
  • YTD19.6%

In the last week, the market has stayed flat, however the Information Technology sector stood out, gaining 4.9%. As for the longer term, the market has risen 38% in the past 12 months. Looking forward, earnings are forecast to grow by 12% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 11 Apr 2026NOK 4.8tNOK 3.1tNOK 248.2b14.6x19.3x1.6x
Mon, 09 Mar 2026NOK 4.7tNOK 3.1tNOK 248.2b13.8x18.8x1.5x
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
Price to Earnings Ratio

7.9x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 504.9bTotal Revenue: NOK 3.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 12.5x202420252026
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 19.3x which is higher than its 3-year average PE of 12.5x.
Past Earnings Growth
  • The earnings for companies in the Norwegian industry have declined 21% per year over the last three years.
  • Revenues have also declined 6.6% 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 Market-0.88%
Tech4.87%
Healthcare3.53%
Materials3.16%
Financials2.08%
Utilities1.55%
Real Estate0.75%
Consumer Discretionary0.37%
Telecom0.099%
Industrials-0.088%
Consumer Staples-1.59%
Energy-4.56%
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 293x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 28.0%, which is higher than its past year's earnings growth of 14.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 31% over the next 5 years.
  • This is better than its past earnings growth rate of 18% per year.
  • In contrast, the Financials sector is expected to see its earnings grow by 4.4% 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
NHY Norsk HydroNOK 108.806.0%
+NOK 12.2b		104.4%PE31.8xMaterials
DNB DNB BankNOK 308.501.4%
+NOK 6.1b		23.6%PB1.5xFinancials
GJF Gjensidige ForsikringNOK 265.204.2%
+NOK 5.4b		11.3%PE21.1xFinancials
SUBC Subsea 7NOK 311.406.2%
+NOK 5.4b		120.2%PE23.6xEnergy
SB1NO SpareBank 1 Sør-NorgeNOK 218.503.8%
+NOK 3.0b		40.1%PB1.5xFinancials
See more

Market Insights

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KOG
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1Y
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Subsea 7
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