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Norwegian (OSEAX) Food Industry Analysis

UpdatedMay 22, 2026
DataAggregated Company Financials
Companies25
  • 7D2.3%
  • 3M-11.3%
  • 1Y1.5%
  • YTD-10.7%

Over the last 7 days, the Food industry has risen 2.8%, driven by gains from Mowi of 5.2%. Overall in the last year, the industry is flat. Looking forward, earnings are forecast to grow by 23% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Mon, 29 May 2023NOK 380.9bNOK 241.2bNOK 27.8b15.6x13.7x1.6x
Price to Earnings Ratio

13.7x


Total Market Cap: NOK 380.9bTotal Earnings: NOK 27.8bTotal Revenue: NOK 241.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Food Industry Price to Earnings3Y Average 33.3x202420252026
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 26.6x which is lower than its 3-year average PE of 33.3x.
  • 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 19% per year over the last three years.
  • Meanwhile revenues for these companies have grown 2.7% 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 Market3.16%
Consumer Staples2.29%
Food2.29%
Packaged Foods and Meats2.29%
Agricultural Products0%0
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 33.3x.
    • Analysts are expecting annual earnings growth of 23.5%, which is higher than its past year's earnings decline of 19.3% per year.
  • Investors are most pessimistic about the Packaged Foods and Meats industry, which is trading below its 3-year average of 33.3x.
Forecasted Growth
  • Analysts are most optimistic on the Packaged Foods and Meats industry, expecting annual earnings growth of 23% over the next 5 years.
  • This is better than its past earnings decline of 19% per year.
  • In contrast, the Packaged Foods and Meats industry is expected to see its earnings grow by 23% 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
MOWI MowiNOK 202.605.2%
+NOK 5.3b		7.4%PE11.7x
SALM SalMarNOK 576.005.5%
+NOK 4.1b		26.9%PE70.7x
BAKKA P/F BakkafrostNOK 462.6010.1%
+NOK 2.5b		-2.9%PE22.6x
LSG Lerøy Seafood GroupNOK 45.723.3%
+NOK 857.5m		-1.9%PE26.2x
AUSS Austevoll SeafoodNOK 93.903.5%
+NOK 645.8m		-3.4%PE20.2x

Latest News

BAKKA
NOK 462.60
P/F Bakkafrost
7D
10.1%
1Y
-2.9%
LSG
NOK 45.72
Lerøy Seafood Group
7D
3.3%
1Y
-1.9%
ORK
NOK 105.00
Orkla
7D
-3.9%
1Y
-7.8%
GIGA
NOK 7.44
Gigante Salmon
7D
-17.0%
1Y
-12.5%
SALME
NOK 4.65
Salmon Evolution
7D
3.6%
1Y
-23.0%
GSF
NOK 32.92
Grieg Seafood
7D
4.0%
1Y
-53.0%
New Narrative • May 18

Rogaland Focus And Large Post Smolt Strategy Will Transform Long Term Earnings Quality

Catalysts About Grieg Seafood Grieg Seafood is a salmon farming company with a focused farming and processing operation in Rogaland, Norway. What are the underlying business or industry changes driving this perspective?
MOWI
NOK 202.60
Mowi
7D
5.2%
1Y
7.4%
AFISH
NOK 29.60
Arctic Fish Holding
7D
3.5%
1Y
-45.2%
AUSS
NOK 93.90
Austevoll Seafood
7D
3.5%
1Y
-3.4%
ASA
NOK 1.87
Atlantic Sapphire
7D
-28.6%
1Y
-72.7%
AKBM
NOK 106.20
Aker BioMarine
7D
-0.2%
1Y
81.2%
ANDF
NOK 27.00
Andfjord Salmon Group
7D
-3.2%
1Y
-26.8%
SALM
NOK 576.00
SalMar
7D
5.5%
1Y
26.9%
Narrative Update • Apr 21

SALM: Higher Margins And Volume Execution Will Support Future Upside

Analysts have trimmed their fair value estimate for SalMar from NOK 680 to NOK 668, linking the change to updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple, even as some Street targets, such as Berenberg's recent NOK 30 increase, reflect differing views on the potential for upside. Analyst Commentary Recent Street commentary has focused on how updated assumptions around revenue, margins and valuation multiples feed into fair value and price targets for SalMar.
ISLAX
NOK 76.00
Icelandic Salmon
7D
-5.6%
1Y
-26.2%
NOHAL
NOK 23.60
Nordic Halibut
7D
-1.7%
1Y
18.0%
NOAP
NOK 83.80
Nordic Aqua Partners
7D
-0.7%
1Y
4.5%