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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedApr 09, 2026
DataAggregated Company Financials
Companies279
  • 7D-1.9%
  • 3M19.6%
  • 1Y40.6%
  • YTD18.4%

Over the last 7 days, the market has dropped 1.9%, driven by a decline of 6.6% in the Energy sector. In contrast to the last week, the market is actually up 41% over the past year. 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
Thu, 09 Apr 2026NOK 4.7tNOK 3.1tNOK 249.9b14.7x19x1.5x
Sat, 07 Mar 2026NOK 4.7tNOK 3.1tNOK 248.0b13.8x18.8x1.5x
Mon, 02 Feb 2026NOK 4.4tNOK 3.2tNOK 261.7b14.8x16.9x1.4x
Wed, 31 Dec 2025NOK 4.3tNOK 3.3tNOK 267.2b14.6x16x1.3x
Fri, 28 Nov 2025NOK 4.1tNOK 3.3tNOK 271.7b13.4x15x1.2x
Sun, 26 Oct 2025NOK 4.1tNOK 3.3tNOK 297.1b12.3x13.9x1.3x
Tue, 23 Sep 2025NOK 4.2tNOK 3.2tNOK 293.7b12.5x14.1x1.3x
Thu, 21 Aug 2025NOK 4.1tNOK 3.2tNOK 303.1b13.1x13.4x1.3x
Sat, 19 Jul 2025NOK 4.1tNOK 3.3tNOK 297.3b13x13.8x1.3x
Mon, 16 Jun 2025NOK 4.1tNOK 3.2tNOK 299.0b12.5x13.6x1.3x
Wed, 14 May 2025NOK 3.8tNOK 3.3tNOK 314.2b12.1x12.1x1.2x
Fri, 11 Apr 2025NOK 3.6tNOK 3.3tNOK 320.2b11.5x11.2x1.1x
Sun, 09 Mar 2025NOK 3.8tNOK 3.3tNOK 329.6b11.6x11.6x1.2x
Tue, 04 Feb 2025NOK 3.9tNOK 3.5tNOK 340.2b11.9x11.5x1.1x
Thu, 02 Jan 2025NOK 3.7tNOK 3.5tNOK 340.4b11.5x10.9x1.1x
Sat, 30 Nov 2024NOK 3.8tNOK 3.4tNOK 335.8b11.5x11.3x1.1x
Mon, 28 Oct 2024NOK 3.8tNOK 3.4tNOK 326.4b10.9x11.8x1.1x
Wed, 25 Sep 2024NOK 3.7tNOK 3.3tNOK 303.5b11.2x12.3x1.1x
Fri, 23 Aug 2024NOK 3.8tNOK 3.3tNOK 303.1b10.8x12.5x1.2x
Sun, 21 Jul 2024NOK 3.9tNOK 3.3tNOK 300.8b11.4x12.9x1.2x
Tue, 18 Jun 2024NOK 3.8tNOK 3.3tNOK 286.8b11.2x13.3x1.2x
Thu, 16 May 2024NOK 4.1tNOK 3.3tNOK 283.7b11.9x14.3x1.2x
Sat, 13 Apr 2024NOK 4.1tNOK 3.4tNOK 301.2b11.7x13.5x1.2x
Mon, 11 Mar 2024NOK 3.8tNOK 3.3tNOK 287.3b11.3x13.3x1.1x
Wed, 07 Feb 2024NOK 3.9tNOK 3.5tNOK 353.4b10.7x10.9x1.1x
Fri, 05 Jan 2024NOK 4.1tNOK 3.5tNOK 344.4b10.9x11.9x1.2x
Sun, 03 Dec 2023NOK 4.0tNOK 3.6tNOK 356.9b10.4x11.3x1.1x
Tue, 31 Oct 2023NOK 4.0tNOK 3.6tNOK 363.0b10.8x11x1.1x
Thu, 28 Sep 2023NOK 4.1tNOK 3.8tNOK 417.6b10.6x9.7x1.1x
Sat, 26 Aug 2023NOK 3.9tNOK 3.8tNOK 417.1b10.3x9.3x1x
Mon, 24 Jul 2023NOK 3.8tNOK 3.7tNOK 454.9b10.7x8.4x1x
Wed, 21 Jun 2023NOK 3.9tNOK 3.8tNOK 503.8b11.5x7.7x1x
Fri, 19 May 2023NOK 3.9tNOK 3.8tNOK 558.6b11.7x6.9x1x
Sun, 16 Apr 2023NOK 4.0tNOK 3.7tNOK 499.5b11.9x8x1.1x
Price to Earnings Ratio

8x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 499.5bTotal Revenue: NOK 3.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 12.4x202420252026
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 19.0x which is higher than its 3-year average PE of 12.4x.
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 6.3% 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 Market-1.87%
Tech2.61%
Financials0.89%
Consumer Discretionary0.67%
Utilities0.60%
Healthcare0.58%
Industrials0.42%
Real Estate0.41%
Consumer Staples0.26%
Materials0.22%
Telecom0.13%
Energy-6.59%
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 292x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 27.9%, 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 4.3% 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
NHY Norsk HydroNOK 105.853.2%
+NOK 6.4b		104.2%PE31xMaterials
SUBC Subsea 7NOK 301.402.8%
+NOK 2.4b		119.4%PE22.7xEnergy
AUTO AutoStore HoldingsNOK 10.496.2%
+NOK 2.1b		41.0%PE45.1xIndustrials
SB1NO SpareBank 1 Sør-NorgeNOK 216.002.6%
+NOK 2.0b		43.2%PB1.4xFinancials
GJF Gjensidige ForsikringNOK 257.801.3%
+NOK 1.7b		13.9%PE20.5xFinancials
See more

Market Insights

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