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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 08, 2026
DataAggregated Company Financials
Companies282
  • 7D2.6%
  • 3M12.6%
  • 1Y15.0%
  • YTD6.2%

The market has climbed 2.6% over the last week, with theIndustrials and Consumer Discretionary sectors leading the way. In contrast, the Healthcare sector is lagging, dropping 3.2%. As for the past 12 months, the market is up 15%. Looking forward, earnings are forecast to grow by 17% 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 Feb 2026NOK 4.5tNOK 3.2tNOK 249.9b15x18.2x1.4x
Tue, 06 Jan 2026NOK 4.2tNOK 3.3tNOK 267.2b14.5x15.9x1.3x
Thu, 04 Dec 2025NOK 4.1tNOK 3.3tNOK 268.7b13.7x15.2x1.2x
Sat, 01 Nov 2025NOK 4.1tNOK 3.3tNOK 268.5b12.6x15.1x1.2x
Mon, 29 Sep 2025NOK 4.2tNOK 3.2tNOK 294.3b12.5x14.4x1.3x
Wed, 27 Aug 2025NOK 4.2tNOK 3.3tNOK 300.4b12.6x13.9x1.3x
Fri, 25 Jul 2025NOK 4.1tNOK 3.3tNOK 302.6b13x13.6x1.3x
Sun, 22 Jun 2025NOK 4.1tNOK 3.2tNOK 302.7b12.3x13.6x1.3x
Tue, 20 May 2025NOK 3.9tNOK 3.3tNOK 308.8b12x12.6x1.2x
Thu, 17 Apr 2025NOK 3.7tNOK 3.3tNOK 318.2b11.8x11.7x1.1x
Sat, 15 Mar 2025NOK 3.9tNOK 3.2tNOK 322.2b11.5x12x1.2x
Mon, 10 Feb 2025NOK 3.8tNOK 3.4tNOK 312.3b12x12.3x1.1x
Wed, 08 Jan 2025NOK 3.8tNOK 3.5tNOK 338.7b12x11.3x1.1x
Fri, 06 Dec 2024NOK 3.8tNOK 3.4tNOK 335.2b11.3x11.4x1.1x
Sun, 03 Nov 2024NOK 3.8tNOK 3.4tNOK 329.6b11x11.4x1.1x
Tue, 01 Oct 2024NOK 3.7tNOK 3.3tNOK 306.0b11.2x12.2x1.1x
Thu, 29 Aug 2024NOK 3.8tNOK 3.3tNOK 304.0b11x12.5x1.2x
Sat, 27 Jul 2024NOK 3.8tNOK 3.4tNOK 301.5b11.1x12.7x1.1x
Mon, 24 Jun 2024NOK 3.8tNOK 3.3tNOK 285.3b11.2x13.5x1.2x
Wed, 22 May 2024NOK 4.1tNOK 3.3tNOK 283.0b11.4x14.4x1.2x
Fri, 19 Apr 2024NOK 4.0tNOK 3.4tNOK 303.3b11.4x13x1.2x
Sun, 17 Mar 2024NOK 3.9tNOK 3.4tNOK 290.3b11.1x13.3x1.2x
Tue, 13 Feb 2024NOK 3.8tNOK 3.3tNOK 274.0b11.7x13.8x1.1x
Thu, 11 Jan 2024NOK 4.0tNOK 3.5tNOK 346.2b10.6x11.6x1.1x
Sat, 09 Dec 2023NOK 4.0tNOK 3.6tNOK 361.0b10.2x11.1x1.1x
Mon, 06 Nov 2023NOK 4.0tNOK 3.6tNOK 366.7b10.6x11x1.1x
Wed, 04 Oct 2023NOK 4.0tNOK 3.8tNOK 420.8b10.6x9.5x1.1x
Fri, 01 Sep 2023NOK 3.9tNOK 3.7tNOK 412.5b10.4x9.5x1x
Sun, 30 Jul 2023NOK 3.8tNOK 3.6tNOK 402.8b11.1x9.6x1.1x
Tue, 27 Jun 2023NOK 3.8tNOK 3.8tNOK 504.3b11.2x7.5x1x
Thu, 25 May 2023NOK 3.9tNOK 3.9tNOK 519.4b11.4x7.5x1x
Sat, 22 Apr 2023NOK 3.9tNOK 3.8tNOK 548.8b11.6x7.2x1x
Mon, 20 Mar 2023NOK 3.8tNOK 3.8tNOK 557.4b11.3x6.8x1x
Wed, 15 Feb 2023NOK 4.1tNOK 3.7tNOK 566.3b11.9x7.2x1.1x
Price to Earnings Ratio

7.2x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 566.3bTotal 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 18.2x 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 4.8% 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 275x.
    • 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%PE78.3xIndustrials
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%PE21.8xTelecom
ORK OrklaNOK 120.905.9%
+NOK 6.4b		16.6%PE18.5xConsumer Staples
See more

Market Insights

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