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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 20, 2026
DataAggregated Company Financials
Companies279
  • 7D1.8%
  • 3M17.9%
  • 1Y18.5%
  • YTD9.7%

The market has climbed 1.4% in the last 7 days, lead by the Industrials sector with a gain of 6.0%. On the other hand, with a decline of 4.5%, the Materials sector is lagging behind. In the last year, the market has climbed 17%. 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
Fri, 20 Feb 2026NOK 4.6tNOK 3.1tNOK 245.6b13.5x18.6x1.5x
Sun, 18 Jan 2026NOK 4.4tNOK 3.3tNOK 267.8b14.5x16.5x1.3x
Tue, 16 Dec 2025NOK 4.2tNOK 3.3tNOK 268.8b14x15.5x1.3x
Thu, 13 Nov 2025NOK 4.1tNOK 3.3tNOK 271.4b13.1x15.2x1.3x
Sat, 11 Oct 2025NOK 4.2tNOK 3.3tNOK 296.4b12.4x14x1.3x
Mon, 08 Sep 2025NOK 4.1tNOK 3.2tNOK 296.2b12.4x13.8x1.3x
Wed, 06 Aug 2025NOK 4.1tNOK 3.3tNOK 305.8b13x13.4x1.2x
Fri, 04 Jul 2025NOK 4.0tNOK 3.2tNOK 301.9b12.7x13.3x1.2x
Sun, 01 Jun 2025NOK 3.9tNOK 3.3tNOK 305.7b12.1x12.7x1.2x
Tue, 29 Apr 2025NOK 3.7tNOK 3.2tNOK 319.1b12x11.7x1.2x
Thu, 27 Mar 2025NOK 4.0tNOK 3.3tNOK 320.2b12.1x12.4x1.2x
Sat, 22 Feb 2025NOK 3.9tNOK 3.3tNOK 336.4b11.3x11.5x1.2x
Mon, 20 Jan 2025NOK 3.9tNOK 3.5tNOK 340.1b12.2x11.4x1.1x
Wed, 18 Dec 2024NOK 3.7tNOK 3.5tNOK 337.5b11.3x10.9x1.1x
Fri, 15 Nov 2024NOK 3.7tNOK 3.4tNOK 330.6b10.6x11.3x1.1x
Sun, 13 Oct 2024NOK 3.8tNOK 3.3tNOK 307.8b11.5x12.4x1.2x
Tue, 10 Sep 2024NOK 3.7tNOK 3.3tNOK 311.1b11.1x11.8x1.1x
Thu, 08 Aug 2024NOK 3.8tNOK 3.3tNOK 296.5b10.9x12.7x1.1x
Sat, 06 Jul 2024NOK 3.8tNOK 3.3tNOK 284.4b11.5x13.5x1.2x
Mon, 03 Jun 2024NOK 4.0tNOK 3.3tNOK 281.9b11.7x14x1.2x
Wed, 01 May 2024NOK 4.0tNOK 3.4tNOK 279.2b11.5x14.3x1.2x
Fri, 29 Mar 2024NOK 3.9tNOK 3.4tNOK 303.9b11.7x13x1.2x
Sun, 25 Feb 2024NOK 3.8tNOK 3.3tNOK 267.6b11.7x14.1x1.1x
Tue, 23 Jan 2024NOK 3.9tNOK 3.5tNOK 350.1b11.1x11.3x1.1x
Thu, 21 Dec 2023NOK 4.0tNOK 3.5tNOK 346.3b10.5x11.6x1.2x
Sat, 18 Nov 2023NOK 4.0tNOK 3.6tNOK 361.2b10.3x11.1x1.1x
Mon, 16 Oct 2023NOK 4.1tNOK 3.8tNOK 423.2b10.7x9.7x1.1x
Wed, 13 Sep 2023NOK 4.0tNOK 3.8tNOK 414.4b10.8x9.7x1.1x
Fri, 11 Aug 2023NOK 3.9tNOK 3.6tNOK 404.2b11x9.7x1.1x
Sun, 09 Jul 2023NOK 3.8tNOK 3.8tNOK 499.7b11.1x7.6x1x
Tue, 06 Jun 2023NOK 3.9tNOK 3.9tNOK 520.9b11.2x7.4x1x
Thu, 04 May 2023NOK 3.9tNOK 3.8tNOK 554.5b11.6x7x1x
Sat, 01 Apr 2023NOK 3.9tNOK 3.8tNOK 548.2b11.4x7.1x1x
Mon, 27 Feb 2023NOK 4.0tNOK 3.7tNOK 579.1b11.5x7x1.1x
Price to Earnings Ratio

7x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 579.1bTotal 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 18.4x 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 25% 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 Market1.78%
Industrials4.36%
Energy3.91%
Tech2.51%
Real Estate1.16%
Financials1.05%
Consumer Staples-0.13%
Consumer Discretionary-0.25%
Telecom-1.81%
Utilities-2.17%
Materials-4.22%
Healthcare-4.31%
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 274x.
    • 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 48% over the next 5 years.
  • This is better than its past earnings growth rate of 17% per year.
  • In contrast, the Real Estate sector is expected to see its earnings grow by 2.2% 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 392.958.0%
+NOK 25.6b		52.9%PE82.8xIndustrials
EQNR EquinorNOK 279.203.8%
+NOK 24.9b		7.6%PE14.4xEnergy
AKRBP Aker BPNOK 286.204.0%
+NOK 7.0b		18.9%PE142.6xEnergy
COSH Constellation Oil Services HoldingNOK 131.702.9%
+NOK 5.6b		n/aPS38.8xEnergy
WAWI Wallenius WilhelmsenNOK 129.609.9%
+NOK 4.9b		37.8%PE5.1xIndustrials
See more

Market Insights

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