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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 11, 2026
DataAggregated Company Financials
Companies282
  • 7D3.8%
  • 3M12.1%
  • 1Y13.8%
  • YTD7.0%

The market is up 3.8% in the last 7 days, led by the Energy and all sectors gaining ground. The market is up 14% over the last 12 months. As for the next few years, earnings are expected to grow by 17% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Feb 2026NOK 4.6tNOK 3.1tNOK 248.6b15x18.4x1.5x
Fri, 09 Jan 2026NOK 4.2tNOK 3.3tNOK 268.1b14.5x15.8x1.3x
Sun, 07 Dec 2025NOK 4.1tNOK 3.3tNOK 267.0b13.8x15.5x1.3x
Tue, 04 Nov 2025NOK 4.1tNOK 3.3tNOK 265.4b12.8x15.4x1.2x
Thu, 02 Oct 2025NOK 4.2tNOK 3.2tNOK 293.4b12.7x14.4x1.3x
Sat, 30 Aug 2025NOK 4.2tNOK 3.2tNOK 296.7b12.5x14x1.3x
Mon, 28 Jul 2025NOK 4.1tNOK 3.3tNOK 303.3b13x13.5x1.2x
Wed, 25 Jun 2025NOK 4.0tNOK 3.2tNOK 303.0b12.2x13.3x1.2x
Fri, 23 May 2025NOK 3.9tNOK 3.2tNOK 303.0b11.8x12.7x1.2x
Sun, 20 Apr 2025NOK 3.7tNOK 3.3tNOK 315.7b11.8x11.8x1.1x
Tue, 18 Mar 2025NOK 3.9tNOK 3.2tNOK 320.6b11.6x12.2x1.2x
Thu, 13 Feb 2025NOK 3.8tNOK 3.4tNOK 311.0b11.8x12.3x1.1x
Sat, 11 Jan 2025NOK 3.9tNOK 3.5tNOK 340.6b12x11.3x1.1x
Mon, 09 Dec 2024NOK 3.8tNOK 3.4tNOK 337.2b11.3x11.2x1.1x
Wed, 06 Nov 2024NOK 3.7tNOK 3.4tNOK 324.8b11.1x11.5x1.1x
Fri, 04 Oct 2024NOK 3.8tNOK 3.3tNOK 306.3b11x12.4x1.2x
Sun, 01 Sep 2024NOK 3.8tNOK 3.3tNOK 305.9b11.6x12.5x1.2x
Tue, 30 Jul 2024NOK 3.9tNOK 3.4tNOK 301.2b11.2x12.8x1.2x
Thu, 27 Jun 2024NOK 3.9tNOK 3.3tNOK 286.6b11.2x13.5x1.2x
Sat, 25 May 2024NOK 4.1tNOK 3.3tNOK 281.5b11.5x14.5x1.2x
Mon, 22 Apr 2024NOK 3.9tNOK 3.4tNOK 302.1b11.5x13x1.2x
Wed, 20 Mar 2024NOK 3.9tNOK 3.3tNOK 290.5b11.4x13.4x1.2x
Fri, 16 Feb 2024NOK 3.7tNOK 3.3tNOK 266.9b11.6x14x1.1x
Sun, 14 Jan 2024NOK 4.0tNOK 3.5tNOK 344.7b10.9x11.7x1.2x
Tue, 12 Dec 2023NOK 4.0tNOK 3.6tNOK 362.2b10.1x11.1x1.1x
Thu, 09 Nov 2023NOK 4.0tNOK 3.6tNOK 369.7b10.3x10.8x1.1x
Sat, 07 Oct 2023NOK 3.9tNOK 3.8tNOK 422.7b10.5x9.3x1x
Mon, 04 Sep 2023NOK 4.0tNOK 3.8tNOK 414.3b10.3x9.6x1.1x
Wed, 02 Aug 2023NOK 3.9tNOK 3.6tNOK 403.6b11x9.6x1.1x
Fri, 30 Jun 2023NOK 3.8tNOK 3.9tNOK 506.8b11.2x7.6x1x
Sun, 28 May 2023NOK 3.8tNOK 3.9tNOK 525.1b11.4x7.3x1x
Tue, 25 Apr 2023NOK 4.0tNOK 3.8tNOK 547.6b11.6x7.3x1x
Thu, 23 Mar 2023NOK 3.8tNOK 3.8tNOK 547.7b11.4x7x1x
Sat, 18 Feb 2023NOK 4.0tNOK 3.6tNOK 572.0b11.8x7.1x1.1x
Price to Earnings Ratio

7.1x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 572.0bTotal Revenue: NOK 3.6tTotal 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 18.4x 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 24% 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 Market3.77%
Telecom9.35%
Industrials5.95%
Tech5.55%
Energy3.74%
Consumer Discretionary3.21%
Materials2.52%
Financials2.31%
Consumer Staples1.28%
Utilities1.06%
Healthcare0.87%
Real Estate0.26%
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 31.2%, 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 49% over the next 5 years.
  • This is better than its past earnings growth rate of 40% per year.
  • In contrast, the Real Estate sector is expected to see its earnings grow by 2.1% 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 270.306.8%
+NOK 42.6b		0.2%PE14.1xEnergy
KOG Kongsberg GruppenNOK 360.659.3%
+NOK 26.9b		58.9%PE76xIndustrials
TEL TelenorNOK 176.6010.4%
+NOK 22.8b		26.4%PE22.1xTelecom
COSH Constellation Oil Services HoldingNOK 128.419.8%
+NOK 17.3b		n/aPS38.2xEnergy
AKRBP Aker BPNOK 275.004.1%
+NOK 6.8b		10.4%PE21.9xEnergy
See more

Market Insights

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