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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies282
  • 7D0.2%
  • 3M9.8%
  • 1Y11.1%
  • YTD3.5%

In the last week, the market has stayed flat, however the Financials sector stood out, gaining 3.1%. As for the longer term, the market has risen 11% in the past 12 months. Earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026NOK 4.4tNOK 3.2tNOK 255.0b14.9x17.4x1.4x
Sun, 04 Jan 2026NOK 4.3tNOK 3.3tNOK 267.6b14.6x16x1.3x
Tue, 02 Dec 2025NOK 4.1tNOK 3.3tNOK 271.2b13.5x15x1.2x
Thu, 30 Oct 2025NOK 4.1tNOK 3.3tNOK 298.1b12.4x13.8x1.3x
Sat, 27 Sep 2025NOK 4.2tNOK 3.2tNOK 294.3b12.5x14.4x1.3x
Mon, 25 Aug 2025NOK 4.2tNOK 3.2tNOK 302.6b13.4x13.9x1.3x
Wed, 23 Jul 2025NOK 4.1tNOK 3.3tNOK 306.3b13x13.3x1.3x
Fri, 20 Jun 2025NOK 4.1tNOK 3.2tNOK 301.3b12.2x13.7x1.3x
Sun, 18 May 2025NOK 3.9tNOK 3.3tNOK 310.3b12.1x12.6x1.2x
Tue, 15 Apr 2025NOK 3.7tNOK 3.3tNOK 317.1b12x11.6x1.1x
Thu, 13 Mar 2025NOK 3.8tNOK 3.2tNOK 322.3b11.7x11.8x1.2x
Sat, 08 Feb 2025NOK 3.8tNOK 3.4tNOK 334.8b11.9x11.4x1.1x
Mon, 06 Jan 2025NOK 3.8tNOK 3.5tNOK 339.1b11.7x11.3x1.1x
Wed, 04 Dec 2024NOK 3.8tNOK 3.4tNOK 335.1b11.6x11.4x1.1x
Fri, 01 Nov 2024NOK 3.8tNOK 3.4tNOK 324.0b11.3x11.7x1.1x
Sun, 29 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.1x12.2x1.1x
Tue, 27 Aug 2024NOK 3.8tNOK 3.3tNOK 303.4b11.2x12.6x1.2x
Thu, 25 Jul 2024NOK 3.9tNOK 3.3tNOK 300.9b11.2x12.8x1.2x
Sat, 22 Jun 2024NOK 3.9tNOK 3.3tNOK 285.3b11.2x13.5x1.2x
Mon, 20 May 2024NOK 4.1tNOK 3.3tNOK 283.8b11.6x14.3x1.2x
Wed, 17 Apr 2024NOK 4.0tNOK 3.4tNOK 303.2b11.5x13.2x1.2x
Fri, 15 Mar 2024NOK 3.8tNOK 3.3tNOK 289.1b11.2x13.3x1.1x
Sun, 11 Feb 2024NOK 3.8tNOK 3.3tNOK 275.8b11.7x13.6x1.1x
Tue, 09 Jan 2024NOK 4.0tNOK 3.5tNOK 346.3b10.8x11.6x1.2x
Thu, 07 Dec 2023NOK 4.0tNOK 3.6tNOK 364.6b10.3x10.9x1.1x
Sat, 04 Nov 2023NOK 4.0tNOK 3.6tNOK 362.5b10.7x11.2x1.1x
Mon, 02 Oct 2023NOK 4.0tNOK 3.8tNOK 416.0b10.6x9.7x1.1x
Wed, 30 Aug 2023NOK 3.9tNOK 3.7tNOK 410.7b10.3x9.5x1x
Fri, 28 Jul 2023NOK 3.8tNOK 3.6tNOK 397.8b11.2x9.7x1.1x
Sun, 25 Jun 2023NOK 3.8tNOK 3.9tNOK 507.9b11.2x7.5x1x
Tue, 23 May 2023NOK 3.9tNOK 3.9tNOK 559.6b11.4x6.9x1x
Thu, 20 Apr 2023NOK 4.0tNOK 3.8tNOK 508.4b11.7x7.8x1x
Sat, 18 Mar 2023NOK 3.8tNOK 3.8tNOK 557.0b10.8x6.8x1x
Mon, 13 Feb 2023NOK 4.1tNOK 3.7tNOK 569.2b11.7x7.2x1.1x
Price to Earnings Ratio

7.2x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 569.2bTotal 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 17.4x 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 23% per year over the last three years.
  • Revenues have also declined 4.3% 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 Market0.24%
Financials3.08%
Consumer Staples3.08%
Tech-0.21%
Industrials-0.34%
Real Estate-0.54%
Telecom-0.59%
Energy-1.14%
Materials-1.65%
Consumer Discretionary-2.10%
Healthcare-4.01%
Utilities-4.07%
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 276x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.2%, 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
DNB DNB BankNOK 288.104.5%
+NOK 18.2b		18.3%PB1.4xFinancials
ORK OrklaNOK 119.104.7%
+NOK 5.1b		14.9%PE18.2xConsumer Staples
NOD Nordic SemiconductorNOK 149.6017.3%
+NOK 4.4b		5.2%PE366.8xTech
MOWI MowiNOK 228.403.3%
+NOK 3.9b		5.5%PE26.4xConsumer Staples
SALM SalMarNOK 594.003.7%
+NOK 2.8b		4.8%PE69.9xConsumer Staples
See more

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