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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies279
  • 7D0.4%
  • 3M16.6%
  • 1Y20.3%
  • YTD10.7%

The market has been flat over the last week. Meanwhile, the market is actually up 20% over the past year. 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
Mon, 02 Mar 2026NOK 4.6tNOK 3.1tNOK 246.3b14.6x18.7x1.5x
Wed, 28 Jan 2026NOK 4.4tNOK 3.2tNOK 260.9b14.9x16.8x1.4x
Fri, 26 Dec 2025NOK 4.2tNOK 3.3tNOK 266.8b14.5x15.8x1.3x
Sun, 23 Nov 2025NOK 4.0tNOK 3.3tNOK 271.9b13.4x14.7x1.2x
Tue, 21 Oct 2025NOK 4.1tNOK 3.3tNOK 295.9b12.2x13.8x1.3x
Thu, 18 Sep 2025NOK 4.2tNOK 3.2tNOK 291.8b12.5x14.3x1.3x
Sat, 16 Aug 2025NOK 4.1tNOK 3.3tNOK 307.4b13.3x13.4x1.3x
Mon, 14 Jul 2025NOK 4.0tNOK 3.3tNOK 303.3b12.7x13.2x1.2x
Wed, 11 Jun 2025NOK 4.0tNOK 3.2tNOK 302.5b12.5x13.2x1.2x
Fri, 09 May 2025NOK 3.8tNOK 3.3tNOK 312.4b12.1x12.1x1.1x
Sun, 06 Apr 2025NOK 3.6tNOK 3.3tNOK 320.3b11.5x11.2x1.1x
Tue, 04 Mar 2025NOK 3.9tNOK 3.3tNOK 334.0b11.4x11.6x1.2x
Thu, 30 Jan 2025NOK 3.9tNOK 3.5tNOK 337.6b12x11.5x1.1x
Sat, 28 Dec 2024NOK 3.7tNOK 3.5tNOK 340.9b11.3x10.9x1.1x
Mon, 25 Nov 2024NOK 3.8tNOK 3.4tNOK 330.0b11.4x11.5x1.1x
Wed, 23 Oct 2024NOK 3.8tNOK 3.3tNOK 316.6b11.5x12x1.1x
Fri, 20 Sep 2024NOK 3.7tNOK 3.3tNOK 305.3b11.3x12.2x1.1x
Sun, 18 Aug 2024NOK 3.8tNOK 3.3tNOK 299.7b11x12.8x1.2x
Tue, 16 Jul 2024NOK 3.8tNOK 3.3tNOK 292.3b11.2x13.1x1.2x
Thu, 13 Jun 2024NOK 3.9tNOK 3.3tNOK 285.3b11.5x13.5x1.2x
Sat, 11 May 2024NOK 4.1tNOK 3.3tNOK 287.3b11.7x14.3x1.2x
Mon, 08 Apr 2024NOK 4.0tNOK 3.3tNOK 297.6b12.2x13.4x1.2x
Wed, 06 Mar 2024NOK 3.8tNOK 3.3tNOK 291.0b11.1x13x1.1x
Fri, 02 Feb 2024NOK 3.9tNOK 3.5tNOK 347.8b11.3x11.3x1.1x
Sun, 31 Dec 2023NOK 4.0tNOK 3.5tNOK 341.0b10.9x11.9x1.2x
Tue, 28 Nov 2023NOK 4.1tNOK 3.5tNOK 357.0b10.2x11.4x1.1x
Thu, 26 Oct 2023NOK 4.0tNOK 3.8tNOK 431.8b10.7x9.2x1x
Sat, 23 Sep 2023NOK 4.1tNOK 3.8tNOK 416.6b10.6x9.8x1.1x
Mon, 21 Aug 2023NOK 3.9tNOK 3.7tNOK 423.2b10.4x9.2x1x
Wed, 19 Jul 2023NOK 3.8tNOK 3.8tNOK 474.6b10.6x7.9x1x
Fri, 16 Jun 2023NOK 3.9tNOK 3.8tNOK 500.2b11.5x7.8x1x
Sun, 14 May 2023NOK 3.9tNOK 3.8tNOK 549.2b11.8x7x1x
Tue, 11 Apr 2023NOK 3.9tNOK 3.8tNOK 504.8b11.5x7.7x1x
Thu, 09 Mar 2023NOK 4.1tNOK 3.8tNOK 558.4b12x7.3x1.1x
Price to Earnings Ratio

7.3x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 558.4bTotal Revenue: NOK 3.8tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 12x202420252026
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 18.7x which is higher than its 3-year average PE of 12.0x.
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 7.1% 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 Market0.43%
Materials2.90%
Utilities2.78%
Energy2.10%
Consumer Discretionary1.97%
Healthcare1.67%
Telecom1.22%
Financials-0.35%
Tech-0.58%
Real Estate-1.28%
Industrials-1.42%
Consumer Staples-2.00%
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 279x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.8%, 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 38% 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 4.2% 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 281.602.9%
+NOK 19.5b
9.4%PE14.6xEnergy
NHY Norsk HydroNOK 88.143.3%
+NOK 5.5b
33.1%PE25.8xMaterials
SUBC Subsea 7NOK 274.805.0%
+NOK 3.8b
59.1%PE20.8xEnergy
YAR Yara InternationalNOK 480.702.8%
+NOK 3.3b
50.4%PE9.4xMaterials
TEL TelenorNOK 176.301.2%
+NOK 3.1b
20.9%PE22.1xTelecom
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