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Norwegian (OSEAX) Food Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies26
  • 7D-0.2%
  • 3M-10.0%
  • 1Y-0.8%
  • YTD-15.5%

The Food is pretty flat in the last 7 days, but Torghatten Aqua has stood out, gaining 47%. In line with that, the industry has also been flat over the past 12 months. Earnings are forecast to grow by 21% annually.

Industry Valuation and Performance

Has the Norwegian Food Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026NOK 376.3bNOK 265.9bNOK 16.5b20.3x22.8x1.4x
Fri, 22 May 2026NOK 397.4bNOK 261.3bNOK 15.5b22.6x25.7x1.5x
Sun, 19 Apr 2026NOK 422.4bNOK 260.3bNOK 12.9b43.6x32.7x1.6x
Tue, 17 Mar 2026NOK 428.5bNOK 261.0bNOK 12.9b46.4x33.3x1.6x
Thu, 12 Feb 2026NOK 436.4bNOK 264.8bNOK 8.9b27.1x49.3x1.6x
Sat, 10 Jan 2026NOK 426.1bNOK 267.0bNOK 8.8b26.2x48.4x1.6x
Mon, 08 Dec 2025NOK 426.8bNOK 267.1bNOK 8.8b26.8x48.3x1.6x
Wed, 05 Nov 2025NOK 408.2bNOK 263.0bNOK 6.8b25.5x59.7x1.6x
Fri, 03 Oct 2025NOK 398.3bNOK 262.8bNOK 6.9b25.1x58.1x1.5x
Sun, 31 Aug 2025NOK 399.7bNOK 261.9bNOK 7.4b22.9x54.1x1.5x
Tue, 29 Jul 2025NOK 377.2bNOK 260.3bNOK 9.9b22.2x38x1.4x
Thu, 26 Jun 2025NOK 373.5bNOK 259.5bNOK 10.3b21.3x36.4x1.4x
Sat, 24 May 2025NOK 387.0bNOK 257.0bNOK 10.2b22.1x38x1.5x
Mon, 21 Apr 2025NOK 397.1bNOK 259.2bNOK 15.4b21.3x25.7x1.5x
Wed, 19 Mar 2025NOK 404.8bNOK 256.8bNOK 15.4b21x26.3x1.6x
Fri, 14 Feb 2025NOK 429.1bNOK 257.8bNOK 16.8b22x25.6x1.7x
Sun, 12 Jan 2025NOK 394.6bNOK 257.1bNOK 16.3b20.8x24.2x1.5x
Tue, 10 Dec 2024NOK 410.7bNOK 256.3bNOK 16.4b22.2x25.1x1.6x
Thu, 07 Nov 2024NOK 398.9bNOK 258.6bNOK 16.7b19x23.8x1.5x
Sat, 05 Oct 2024NOK 392.5bNOK 256.4bNOK 17.6b18x22.3x1.5x
Mon, 02 Sep 2024NOK 383.5bNOK 256.6bNOK 17.8b17.6x21.6x1.5x
Wed, 31 Jul 2024NOK 388.3bNOK 256.7bNOK 10.6b35.4x36.5x1.5x
Fri, 28 Jun 2024NOK 367.6bNOK 253.8bNOK 9.7b35.5x38.1x1.4x
Sun, 26 May 2024NOK 391.9bNOK 254.1bNOK 10.3b39.1x37.9x1.5x
Tue, 23 Apr 2024NOK 366.9bNOK 254.1bNOK 13.1b30.3x28x1.4x
Thu, 21 Mar 2024NOK 397.7bNOK 251.0bNOK 13.2b36.9x30.1x1.6x
Sat, 17 Feb 2024NOK 373.8bNOK 247.1bNOK 11.4b39.7x32.9x1.5x
Mon, 15 Jan 2024NOK 367.9bNOK 250.5bNOK 9.5b48.3x38.6x1.5x
Wed, 13 Dec 2023NOK 365.7bNOK 254.6bNOK 9.7b49.4x37.7x1.4x
Fri, 10 Nov 2023NOK 370.6bNOK 252.8bNOK 11.4b36.8x32.4x1.5x
Sun, 08 Oct 2023NOK 360.3bNOK 246.7bNOK 10.9b36.5x33x1.5x
Tue, 05 Sep 2023NOK 368.6bNOK 246.1bNOK 10.9b36.7x33.7x1.5x
Thu, 03 Aug 2023NOK 356.3bNOK 239.7bNOK 26.8b13.6x13.3x1.5x
Sat, 01 Jul 2023NOK 345.4bNOK 240.1bNOK 27.4b14.7x12.6x1.4x
Price to Earnings Ratio

12.6x


Total Market Cap: NOK 345.4bTotal Earnings: NOK 27.4bTotal Revenue: NOK 240.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Food Industry Price to Earnings3Y Average 33.6x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Food industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 22.8x which is lower than its 3-year average PE of 33.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Food industry have declined 16% per year over the last three years.
  • Meanwhile revenues for these companies have grown 3.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

Which industries have driven the changes within the Norwegian Consumer Staples industry?

NO Market-0.51%
Consumer Staples-0.18%
Food-0.18%
Agricultural Products0%0
Packaged Foods and Meats-0.18%
Industry PE
  • Investors are most optimistic about the Packaged Foods and Meats industry even though it's trading below its 3-year average PE ratio of 33.6x.
    • Analysts are expecting annual earnings growth of 21.4%, which is higher than its past year's earnings growth of 10.6% per year.
  • Investors are most pessimistic about the Packaged Foods and Meats industry, which is trading below its 3-year average of 33.6x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings growth rate of 11% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 21% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
TORG Torghatten AquaNOK 88.0046.7%
+NOK 314.6m		10.7%PS4.2x
AKBM Aker BioMarineNOK 99.403.2%
+NOK 271.9m		71.4%PS4x
SALM SalMarNOK 540.000.4%
+NOK 271.1m		23.8%PE36.1x
MOWI MowiNOK 195.600.1%
+NOK 105.5m		3.0%PE11x
ANDF Andfjord Salmon GroupNOK 27.503.0%
+NOK 85.8m		-9.5%PS3616.9x

Latest News

SALM
NOK 540.00
SalMar
7D
0.4%
1Y
23.8%
MOWI
NOK 195.60
Mowi
7D
0.1%
1Y
3.0%
NCOD
NOK 10.45
Norcod
7D
4.5%
1Y
-30.3%
MAS
NOK 33.20
Måsøval
7D
-2.1%
1Y
59.6%
LSG
NOK 41.46
Lerøy Seafood Group
7D
-0.5%
1Y
-9.9%
Narrative Update • Jun 18

LSG: Future Returns Will Depend On Margin Execution And Mixed Broker Views

The latest narrative update on Lerøy Seafood Group reflects a modest trim in the analyst price target to NOK 52.50 from NOK 53.13, as analysts balance mixed recent research views with slightly adjusted assumptions on fair value, margins and future P/E. Analyst Commentary Recent research on Lerøy Seafood Group points to a split view, with some bullish analysts becoming more positive on the stock while more cautious analysts have shifted to a less favorable stance.
BAKKA
NOK 419.80
P/F Bakkafrost
7D
-0.8%
1Y
-6.0%
Narrative Update • Jun 15

BAKKA: Future Cash Flows Will Rely On 2026 Production Execution

Analysts have nudged their fair value estimate for P/F Bakkafrost to NOK 505.27 from NOK 501.93, reflecting updated assumptions that include a higher discount rate, slightly lower revenue growth expectations, a higher profit margin, and a lower future P/E multiple. Analyst Commentary Recent Street research around P/F Bakkafrost highlights a more cautious tone, with at least one downgrade reflecting concerns that sit behind the updated fair value assumptions.
ORK
NOK 99.65
Orkla
7D
-0.1%
1Y
-8.4%
AFISH
NOK 29.80
Arctic Fish Holding
7D
-4.5%
1Y
-38.7%
SALME
NOK 4.16
Salmon Evolution
7D
-1.8%
1Y
-30.8%
BARRA
NOK 0.81
Barramundi Group
7D
22.0%
1Y
-27.5%
Analysis Article • Jun 06

Additional Considerations Required While Assessing Barramundi Group's (OB:BARRA) Strong Earnings

Barramundi Group Ltd.'s ( OB:BARRA ) stock was strong after they recently reported robust earnings. We did some...
AUSS
NOK 84.00
Austevoll Seafood
7D
-0.5%
1Y
-10.1%
Narrative Update • Jun 06

AUSS: Higher Margin Outlook Will Support Future Upside Potential

The analyst price target for Austevoll Seafood has been adjusted slightly from NOK 107.57 to NOK 106.00. Analysts point to revised assumptions around discount rates, revenue growth, profit margins and future P/E expectations as the key drivers of the change.
AKBM
NOK 99.40
Aker BioMarine
7D
3.2%
1Y
71.4%
Narrative Update • Jun 05

AKBM: Higher Margins And Premium Multiple Will Support Stronger Future Upside

Analysts have lifted their price target on Aker BioMarine from NOK 69.22 to NOK 124.91, citing updated assumptions that keep revenue growth broadly similar while reflecting higher expected profit margins and a higher future P/E multiple. What's in the News Aker BioMarine ASA has secured a new contract for the supply of Lysoveta with an estimated value of about US$4 million in 2026, and the company reports that gross margin on Lysoveta is significantly higher than for Superba Krill Oil.
NOAP
NOK 78.60
Nordic Aqua Partners
7D
-3.0%
1Y
4.8%
ANDF
NOK 27.50
Andfjord Salmon Group
7D
3.0%
1Y
-9.5%
NOHAL
NOK 23.20
Nordic Halibut
7D
0.9%
1Y
19.0%