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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedAug 29, 2025
DataAggregated Company Financials
Companies291
  • 7D-0.9%
  • 3M4.7%
  • 1Y6.5%
  • YTD6.3%

In the last week, the market has been flat. More promisingly, the market is up 6.5% over the past year. As for the next few years, earnings are expected to grow by 12% per annum.

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 29 Aug 2025NOK 4.1tNOK 3.2tNOK 296.9b12.5x13.9x1.3x
Sun, 27 Jul 2025NOK 4.1tNOK 3.3tNOK 303.3b13x13.5x1.2x
Tue, 24 Jun 2025NOK 4.1tNOK 3.2tNOK 302.3b12.1x13.6x1.3x
Thu, 22 May 2025NOK 3.9tNOK 3.2tNOK 303.3b12x12.9x1.2x
Sat, 19 Apr 2025NOK 3.7tNOK 3.3tNOK 315.7b11.8x11.8x1.1x
Mon, 17 Mar 2025NOK 3.9tNOK 3.2tNOK 322.2b11.5x12x1.2x
Wed, 12 Feb 2025NOK 3.9tNOK 3.4tNOK 309.3b11.9x12.6x1.1x
Fri, 10 Jan 2025NOK 3.8tNOK 3.5tNOK 339.8b11.9x11.3x1.1x
Sun, 08 Dec 2024NOK 3.8tNOK 3.4tNOK 337.2b11.3x11.2x1.1x
Tue, 05 Nov 2024NOK 3.7tNOK 3.4tNOK 326.5b11x11.4x1.1x
Thu, 03 Oct 2024NOK 3.8tNOK 3.3tNOK 307.1b11.3x12.2x1.1x
Sat, 31 Aug 2024NOK 3.8tNOK 3.3tNOK 306.1b11.5x12.5x1.2x
Mon, 29 Jul 2024NOK 3.8tNOK 3.4tNOK 301.5b11.1x12.7x1.1x
Wed, 26 Jun 2024NOK 3.9tNOK 3.3tNOK 285.4b11.2x13.5x1.2x
Fri, 24 May 2024NOK 4.1tNOK 3.3tNOK 283.0b11.6x14.5x1.2x
Sun, 21 Apr 2024NOK 3.9tNOK 3.4tNOK 302.1b11.5x13x1.2x
Tue, 19 Mar 2024NOK 3.9tNOK 3.3tNOK 291.0b11.1x13.3x1.2x
Thu, 15 Feb 2024NOK 3.7tNOK 3.3tNOK 271.4b11.8x13.8x1.1x
Sat, 13 Jan 2024NOK 4.0tNOK 3.5tNOK 344.7b10.9x11.7x1.2x
Mon, 11 Dec 2023NOK 4.0tNOK 3.6tNOK 360.6b10.2x11.1x1.1x
Wed, 08 Nov 2023NOK 4.0tNOK 3.6tNOK 370.4b10.3x10.8x1.1x
Fri, 06 Oct 2023NOK 3.9tNOK 3.8tNOK 424.2b10.5x9.2x1x
Sun, 03 Sep 2023NOK 4.0tNOK 3.8tNOK 414.3b10.3x9.6x1.1x
Tue, 01 Aug 2023NOK 3.9tNOK 3.6tNOK 400.3b11x9.7x1.1x
Thu, 29 Jun 2023NOK 3.8tNOK 3.9tNOK 506.2b11.1x7.4x1x
Sat, 27 May 2023NOK 3.8tNOK 3.9tNOK 522.0b11.4x7.4x1x
Mon, 24 Apr 2023NOK 3.9tNOK 3.8tNOK 548.2b11.6x7.2x1x
Wed, 22 Mar 2023NOK 3.8tNOK 3.8tNOK 550.6b11.5x7x1x
Fri, 17 Feb 2023NOK 4.1tNOK 3.7tNOK 570.8b11.8x7.2x1.1x
Sun, 15 Jan 2023NOK 3.9tNOK 3.6tNOK 485.4b11.8x8.1x1.1x
Tue, 13 Dec 2022NOK 4.0tNOK 3.6tNOK 488.9b11.7x8.2x1.1x
Thu, 10 Nov 2022NOK 4.1tNOK 3.6tNOK 489.7b11.9x8.3x1.1x
Sat, 08 Oct 2022NOK 3.9tNOK 3.4tNOK 392.9b11.8x9.9x1.1x
Mon, 05 Sep 2022NOK 4.2tNOK 3.3tNOK 375.1b12.9x11.2x1.3x
Price to Earnings Ratio

11.2x


Total Market Cap: NOK 4.2tTotal Earnings: NOK 375.1bTotal Revenue: NOK 3.3tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 10.9x202320242025
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 13.9x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have declined 7.5% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market-0.88%
Utilities2.38%
Tech0.62%
Industrials0.42%
Real Estate0.27%
Energy-0.41%
Materials-0.57%
Telecom-0.83%
Consumer Discretionary-1.18%
Healthcare-1.86%
Consumer Staples-2.01%
Financials-2.58%
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 344x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.6% which is higher than its past year's earnings decline of 11.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 47% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 7.7% 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
COSH Constellation Oil Services HoldingNOK 97.5012.1%
+NOK 16.0b
n/aPS27.2xEnergy
KOG Kongsberg GruppenNOK 300.051.7%
+NOK 4.4b
33.7%PE39.3xIndustrials
SALM SalMarNOK 514.503.6%
+NOK 2.4b
-6.6%PE61.5xConsumer Staples
TEL TelenorNOK 167.601.0%
+NOK 2.3b
27.5%PE22.4xTelecom
VAR Vår EnergiNOK 34.371.6%
+NOK 1.3b
-3.5%PE14xEnergy
See more

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