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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMar 18, 2026
DataAggregated Company Financials
Companies280
  • 7D3.6%
  • 3M19.8%
  • 1Y23.3%
  • YTD16.2%

The market has climbed 3.6% in the last 7 days, lead by the Energy sector with a gain of 8.2%. The market is up 23% over the last 12 months. Looking forward, earnings are forecast to grow by 15% annually.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 18 Mar 2026NOK 4.8tNOK 3.1tNOK 248.0b14.2x19.5x1.6x
Fri, 13 Feb 2026NOK 4.5tNOK 3.0tNOK 245.0b14.8x18.3x1.5x
Sun, 11 Jan 2026NOK 4.3tNOK 3.3tNOK 267.9b14.6x16x1.3x
Tue, 09 Dec 2025NOK 4.1tNOK 3.3tNOK 267.3b13.9x15.5x1.3x
Thu, 06 Nov 2025NOK 4.1tNOK 3.3tNOK 266.2b12.9x15.2x1.2x
Sat, 04 Oct 2025NOK 4.2tNOK 3.2tNOK 293.5b12.5x14.3x1.3x
Mon, 01 Sep 2025NOK 4.2tNOK 3.2tNOK 297.2b12.6x14x1.3x
Wed, 30 Jul 2025NOK 4.1tNOK 3.3tNOK 303.8b13.1x13.6x1.3x
Fri, 27 Jun 2025NOK 4.0tNOK 3.2tNOK 302.2b12.5x13.2x1.2x
Sun, 25 May 2025NOK 3.9tNOK 3.2tNOK 300.8b12x12.8x1.2x
Tue, 22 Apr 2025NOK 3.7tNOK 3.3tNOK 315.5b11.8x11.8x1.1x
Thu, 20 Mar 2025NOK 4.0tNOK 3.3tNOK 320.7b11.9x12.4x1.2x
Sat, 15 Feb 2025NOK 3.8tNOK 3.3tNOK 322.3b11.5x11.8x1.2x
Mon, 13 Jan 2025NOK 3.9tNOK 3.5tNOK 340.3b11.9x11.3x1.1x
Wed, 11 Dec 2024NOK 3.8tNOK 3.4tNOK 337.2b11.3x11.2x1.1x
Fri, 08 Nov 2024NOK 3.7tNOK 3.4tNOK 321.1b11.5x11.5x1.1x
Sun, 06 Oct 2024NOK 3.8tNOK 3.3tNOK 307.0b11.2x12.4x1.2x
Tue, 03 Sep 2024NOK 3.8tNOK 3.3tNOK 305.5b11.8x12.4x1.2x
Thu, 01 Aug 2024NOK 3.9tNOK 3.3tNOK 299.5b11.2x13x1.2x
Sat, 29 Jun 2024NOK 3.9tNOK 3.3tNOK 286.6b11.3x13.6x1.2x
Mon, 27 May 2024NOK 4.1tNOK 3.3tNOK 282.9b11.6x14.4x1.2x
Wed, 24 Apr 2024NOK 3.9tNOK 3.4tNOK 297.7b11.6x13.2x1.2x
Fri, 22 Mar 2024NOK 3.9tNOK 3.3tNOK 293.1b11.5x13.3x1.2x
Sun, 18 Feb 2024NOK 3.8tNOK 3.3tNOK 265.8b11.8x14.2x1.1x
Tue, 16 Jan 2024NOK 4.0tNOK 3.5tNOK 346.4b11x11.5x1.1x
Thu, 14 Dec 2023NOK 4.0tNOK 3.6tNOK 361.0b10.3x11x1.1x
Sat, 11 Nov 2023NOK 4.0tNOK 3.6tNOK 367.5b10.4x11x1.1x
Mon, 09 Oct 2023NOK 3.9tNOK 3.8tNOK 422.5b10.5x9.3x1x
Wed, 06 Sep 2023NOK 4.0tNOK 3.8tNOK 415.3b10.4x9.6x1.1x
Fri, 04 Aug 2023NOK 3.9tNOK 3.6tNOK 404.3b11.1x9.5x1.1x
Sun, 02 Jul 2023NOK 3.8tNOK 3.8tNOK 504.4b11.2x7.6x1x
Tue, 30 May 2023NOK 3.8tNOK 3.9tNOK 525.1b11.4x7.3x1x
Thu, 27 Apr 2023NOK 3.9tNOK 3.8tNOK 545.7b11.4x7.2x1x
Sat, 25 Mar 2023NOK 3.7tNOK 3.8tNOK 549.8b11.6x6.8x1x
Price to Earnings Ratio

6.8x


Total Market Cap: NOK 3.7tTotal Earnings: NOK 549.8bTotal Revenue: NOK 3.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 12.2x202420252026
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 19.5x which is higher than its 3-year average PE of 12.2x.
Past Earnings Growth
  • The earnings for companies in the Norwegian industry have declined 23% 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 Market3.64%
Energy8.22%
Materials6.37%
Consumer Staples2.79%
Tech2.62%
Utilities1.01%
Telecom0.63%
Consumer Discretionary0.30%
Industrials0.17%
Financials0.085%
Real Estate-0.033%
Healthcare-0.20%
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 285x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.5%, which is higher than its past year's earnings growth of 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 33% 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 4.3% 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
EQNR EquinorNOK 355.1013.4%
+NOK 104.3b
34.7%PE18.3xEnergy
AKRBP Aker BPNOK 341.7012.3%
+NOK 23.6b
41.8%PE170.2xEnergy
YAR Yara InternationalNOK 556.4012.8%
+NOK 16.1b
63.4%PE10.8xMaterials
VAR Vår EnergiNOK 43.8713.9%
+NOK 13.3b
36.1%PE14.6xEnergy
NHY Norsk HydroNOK 93.524.4%
+NOK 7.7b
34.7%PE27.4xMaterials
See more

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