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Apr 26
Norwegian (OSEAX) Market Analysis & Valuation
UpdatedApr 27, 2024
DataAggregated Company Financials
Companies328
- 7D1.7%
- 3M3.5%
- 1Y4.1%
- YTD2.1%
The market is up 1.7% over the last week, with the Energy sector leading the way, up 1.7%. As for the past 12 months, the market is up 4.1%. 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?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 27 Apr 2024 | kr4.0t | kr3.4t | kr278.0b | 11.4x | 14.4x | 1.2x |
| Mon, 25 Mar 2024 | kr3.9t | kr3.4t | kr300.5b | 11.3x | 13x | 1.2x |
| Wed, 21 Feb 2024 | kr3.8t | kr3.3t | kr265.4b | 11.3x | 14.2x | 1.1x |
| Fri, 19 Jan 2024 | kr3.9t | kr3.5t | kr350.7b | 10.8x | 11.2x | 1.1x |
| Sun, 17 Dec 2023 | kr4.0t | kr3.5t | kr350.0b | 10.4x | 11.4x | 1.1x |
| Tue, 14 Nov 2023 | kr4.1t | kr3.6t | kr365.2b | 10.3x | 11.2x | 1.1x |
| Thu, 12 Oct 2023 | kr4.1t | kr3.8t | kr420.9b | 10.7x | 9.6x | 1.1x |
| Sat, 09 Sep 2023 | kr4.0t | kr3.8t | kr414.0b | 10.8x | 9.6x | 1.1x |
| Mon, 07 Aug 2023 | kr3.9t | kr3.6t | kr401.2b | 11.1x | 9.7x | 1.1x |
| Wed, 05 Jul 2023 | kr3.9t | kr3.8t | kr501.2b | 11.1x | 7.7x | 1x |
| Fri, 02 Jun 2023 | kr3.8t | kr3.9t | kr522.3b | 11.4x | 7.3x | 1x |
| Sun, 30 Apr 2023 | kr4.0t | kr3.8t | kr546.5b | 12.1x | 7.3x | 1x |
| Tue, 28 Mar 2023 | kr3.8t | kr3.8t | kr548.8b | 11.6x | 6.9x | 1x |
| Thu, 23 Feb 2023 | kr4.0t | kr3.7t | kr576.0b | 11.4x | 7x | 1.1x |
| Sat, 21 Jan 2023 | kr3.9t | kr3.6t | kr486.7b | 11.6x | 8.1x | 1.1x |
| Mon, 19 Dec 2022 | kr4.0t | kr3.6t | kr485.8b | 11.6x | 8.1x | 1.1x |
| Wed, 16 Nov 2022 | kr4.1t | kr3.6t | kr483.1b | 11.9x | 8.4x | 1.1x |
| Fri, 14 Oct 2022 | kr3.8t | kr3.4t | kr391.6b | 11.9x | 9.8x | 1.1x |
| Sun, 11 Sep 2022 | kr4.1t | kr3.3t | kr373.6b | 12.7x | 10.9x | 1.2x |
| Tue, 09 Aug 2022 | kr4.2t | kr3.2t | kr343.7b | 12.4x | 12.1x | 1.3x |
| Thu, 07 Jul 2022 | kr3.9t | kr3.0t | kr300.2b | 11.9x | 13x | 1.3x |
| Sat, 04 Jun 2022 | kr4.2t | kr2.9t | kr284.3b | 13.4x | 14.8x | 1.5x |
| Mon, 02 May 2022 | kr4.1t | kr2.6t | kr214.1b | 14.1x | 19.4x | 1.6x |
| Wed, 30 Mar 2022 | kr4.2t | kr2.5t | kr194.4b | 14.7x | 21.4x | 1.7x |
| Fri, 25 Feb 2022 | kr3.9t | kr2.5t | kr211.5b | 13.9x | 18.5x | 1.6x |
| Sun, 23 Jan 2022 | kr3.9t | kr2.2t | kr151.8b | 15.3x | 25.9x | 1.8x |
| Tue, 21 Dec 2021 | kr3.5t | kr2.2t | kr129.6b | 14x | 26.9x | 1.6x |
| Thu, 18 Nov 2021 | kr4.1t | kr2.2t | kr151.5b | 14.5x | 26.8x | 1.9x |
| Sat, 16 Oct 2021 | kr3.8t | kr2.0t | kr116.1b | 13.3x | 33.1x | 1.9x |
| Mon, 13 Sep 2021 | kr3.6t | kr2.0t | kr115.0b | 13.5x | 31.6x | 1.8x |
| Wed, 11 Aug 2021 | kr3.6t | kr2.0t | kr115.9b | 12.7x | 31x | 1.8x |
| Sun, 06 Jun 2021 | kr3.1t | kr1.8t | kr46.0b | 14.5x | 67.1x | 1.7x |
Price to Earnings Ratio
65.7x
Current Market PE
- Investors are pessimistic on the Norwegian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 14.4x which is lower than its 3-year average PE of 34.7x.
Past Earnings Growth
- The earnings for Norwegian listed companies have grown 82% per year over the last three years.
- Revenues for these companies have grown 24% per year.
- This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.
Sector Trends
Which sectors have driven the changes within the Norwegian Market?
| NO Market | 1.72% | |
| Tech | 8.27% | |
| Utilities | 6.46% | |
| Consumer Staples | 4.17% | |
| Financials | 1.85% | |
| Industrials | 1.69% | |
| Energy | 1.67% | |
| Healthcare | 1.39% | |
| Telecom | 1.35% | |
| Real Estate | 0.93% | |
| Materials | -2.30% | |
| Consumer Discretionary | -4.45% | |
Sector PE
- Investors favour the Materials sector the most for future growth, which is trading above its 3-year average PE ratio of 14.0x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 45.1% which is higher than its past year's earnings decline of 7.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 85% over the next 5 years.
- This is better than its past earnings decline of 52% per year.
- In contrast, the Utilities sector is expected to see its earnings decline by 12% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| EQNR Equinor | kr303.65 | 1.6% +kr13.6b | -0.4% | PE8.4x | Energy | |
| GJF Gjensidige Forsikring | kr179.50 | 9.4% +kr7.7b | -3.1% | PE22.1x | Financials | |
| TEL Telenor | kr128.20 | 3.3% +kr5.7b | -3.6% | PS2.2x | Telecom | |
| NOD Nordic Semiconductor | kr116.40 | 30.9% +kr5.3b | 1.1% | PS4.3x | Tech | |
| STB Storebrand | kr106.40 | 11.5% +kr4.9b | 29.7% | PE14.7x | Financials |
