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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies279
  • 7D3.1%
  • 3M18.3%
  • 1Y18.8%
  • YTD10.3%

Over the last 7 days, the market has risen 3.1%, driven by gains in the Energy and Industrials sectors of 3.4% and 5.7%, respectively. The market is up 19% over the last 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
Mon, 23 Feb 2026NOK 4.6tNOK 3.1tNOK 244.2b13.8x18.8x1.5x
Wed, 21 Jan 2026NOK 4.3tNOK 3.3tNOK 265.6b14.5x16.3x1.3x
Fri, 19 Dec 2025NOK 4.2tNOK 3.3tNOK 268.9b14x15.5x1.3x
Sun, 16 Nov 2025NOK 4.1tNOK 3.3tNOK 269.2b12.8x15.1x1.2x
Tue, 14 Oct 2025NOK 4.1tNOK 3.3tNOK 295.9b12.2x13.9x1.3x
Thu, 11 Sep 2025NOK 4.2tNOK 3.2tNOK 294.0b12.6x14.2x1.3x
Sat, 09 Aug 2025NOK 4.1tNOK 3.3tNOK 306.1b13.1x13.4x1.2x
Mon, 07 Jul 2025NOK 4.0tNOK 3.2tNOK 301.8b12.8x13.3x1.2x
Wed, 04 Jun 2025NOK 3.9tNOK 3.2tNOK 303.0b12x12.9x1.2x
Fri, 02 May 2025NOK 3.7tNOK 3.3tNOK 327.3b11.8x11.5x1.1x
Sun, 30 Mar 2025NOK 3.9tNOK 3.3tNOK 319.1b12.1x12.2x1.2x
Tue, 25 Feb 2025NOK 3.9tNOK 3.3tNOK 334.4b11.5x11.5x1.2x
Thu, 23 Jan 2025NOK 3.8tNOK 3.5tNOK 336.8b11.6x11.4x1.1x
Sat, 21 Dec 2024NOK 3.6tNOK 3.5tNOK 340.2b11.4x10.7x1x
Mon, 18 Nov 2024NOK 3.8tNOK 3.4tNOK 330.7b10.8x11.4x1.1x
Wed, 16 Oct 2024NOK 3.8tNOK 3.3tNOK 311.6b11.7x12.1x1.1x
Fri, 13 Sep 2024NOK 3.7tNOK 3.3tNOK 308.9b11.1x11.9x1.1x
Sun, 11 Aug 2024NOK 3.8tNOK 3.3tNOK 299.0b10.9x12.7x1.1x
Tue, 09 Jul 2024NOK 3.8tNOK 3.2tNOK 280.0b11.5x13.5x1.2x
Thu, 06 Jun 2024NOK 3.9tNOK 3.3tNOK 285.4b11.3x13.6x1.2x
Sat, 04 May 2024NOK 4.0tNOK 3.3tNOK 287.7b11.5x13.8x1.2x
Mon, 01 Apr 2024NOK 3.9tNOK 3.4tNOK 303.2b11.7x13x1.2x
Wed, 28 Feb 2024NOK 3.8tNOK 3.3tNOK 268.3b11.5x14x1.1x
Fri, 26 Jan 2024NOK 3.9tNOK 3.5tNOK 347.1b11.3x11.4x1.1x
Sun, 24 Dec 2023NOK 4.0tNOK 3.5tNOK 344.0b10.5x11.7x1.2x
Tue, 21 Nov 2023NOK 4.1tNOK 3.5tNOK 356.2b10.4x11.4x1.1x
Thu, 19 Oct 2023NOK 4.1tNOK 3.8tNOK 428.2b10.7x9.7x1.1x
Sat, 16 Sep 2023NOK 4.1tNOK 3.8tNOK 415.9b10.8x9.8x1.1x
Mon, 14 Aug 2023NOK 3.9tNOK 3.7tNOK 410.3b11.1x9.6x1.1x
Wed, 12 Jul 2023NOK 3.8tNOK 3.8tNOK 490.5b11x7.8x1x
Fri, 09 Jun 2023NOK 3.9tNOK 3.9tNOK 515.4b11.5x7.5x1x
Sun, 07 May 2023NOK 3.9tNOK 3.7tNOK 544.5b11.4x7.2x1x
Tue, 04 Apr 2023NOK 3.9tNOK 3.7tNOK 537.8b11.5x7.3x1.1x
Thu, 02 Mar 2023NOK 4.1tNOK 3.7tNOK 560.0b11.9x7.3x1.1x
Price to Earnings Ratio

7.3x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 560.0bTotal Revenue: NOK 3.7tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.9x202420252026
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 18.8x which is higher than its 3-year average PE of 11.9x.
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 6.4% 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 Market3.08%
Industrials5.23%
Tech5.03%
Energy3.79%
Financials2.59%
Materials2.46%
Real Estate2.34%
Utilities1.79%
Consumer Staples1.67%
Consumer Discretionary0.14%
Healthcare-0.84%
Telecom-1.49%
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 277x.
    • 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 7.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 40% 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 4.1% 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
KOG Kongsberg GruppenNOK 397.607.9%
+NOK 25.7b		48.7%PE83.8xIndustrials
DNB DNB BankNOK 305.104.2%
+NOK 17.6b		20.8%PB1.5xFinancials
EQNR EquinorNOK 273.702.2%
+NOK 14.7b		6.0%PE14.2xEnergy
COSH Constellation Oil Services HoldingNOK 131.502.7%
+NOK 5.3b		n/aPS38.9xEnergy
AKRBP Aker BPNOK 281.902.9%
+NOK 5.0b		18.3%PE141.3xEnergy
See more

Market Insights

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