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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedMay 22, 2026
DataAggregated Company Financials
Companies30
  • 7D-1.6%
  • 3M12.2%
  • 1Y60.5%
  • YTD37.1%

Over the last 7 days, the Energy Services industry has dropped 1.6%, driven by a pullback from Subsea 7 of 10%. This takes the industry's 12 month performance to a gain of 61%. As for the next few years, earnings are expected to grow by 12% per annum.

Industry Valuation and Performance

Has the Norwegian Energy Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 May 2026NOK 288.0bNOK 227.4bNOK 20.3b7.7x14.2x1.3x
Sun, 19 Apr 2026NOK 270.0bNOK 230.0bNOK 19.2b7.7x14.1x1.2x
Tue, 17 Mar 2026NOK 446.6bNOK 236.1bNOK 20.4b8.1x21.9x1.9x
Thu, 12 Feb 2026NOK 426.2bNOK 227.9bNOK 18.3b7.2x23.3x1.9x
Sat, 10 Jan 2026NOK 384.2bNOK 237.0bNOK 19.2b6.7x20x1.6x
Mon, 08 Dec 2025NOK 376.5bNOK 235.9bNOK 18.1b6.6x20.8x1.6x
Wed, 05 Nov 2025NOK 342.1bNOK 245.8bNOK 17.7b6.8x19.4x1.4x
Fri, 03 Oct 2025NOK 363.7bNOK 238.8bNOK 16.8b6.6x21.6x1.5x
Sun, 31 Aug 2025NOK 349.1bNOK 239.7bNOK 17.2b6.8x20.3x1.5x
Tue, 29 Jul 2025NOK 302.0bNOK 234.4bNOK 13.6b8.1x22.2x1.3x
Thu, 26 Jun 2025NOK 177.6bNOK 229.2bNOK 14.8b7x12x0.8x
Sat, 24 May 2025NOK 161.3bNOK 229.0bNOK 16.6b7x9.7x0.7x
Mon, 21 Apr 2025NOK 148.8bNOK 217.1bNOK 16.5b7.9x9x0.7x
Wed, 19 Mar 2025NOK 170.3bNOK 218.0bNOK 16.6b8.7x10.3x0.8x
Fri, 14 Feb 2025NOK 169.2bNOK 222.2bNOK 18.2b6.3x9.3x0.8x
Sun, 12 Jan 2025NOK 178.8bNOK 214.7bNOK 16.8b6.7x10.6x0.8x
Tue, 10 Dec 2024NOK 174.1bNOK 220.3bNOK 17.3b7.8x10.1x0.8x
Thu, 07 Nov 2024NOK 183.5bNOK 218.1bNOK 18.0b11.5x10.2x0.8x
Sat, 05 Oct 2024NOK 192.7bNOK 212.6bNOK 16.4b8.5x11.7x0.9x
Mon, 02 Sep 2024NOK 200.0bNOK 211.7bNOK 15.4b14.3x13x0.9x
Wed, 31 Jul 2024NOK 224.5bNOK 214.1bNOK 14.9b11x15x1x
Fri, 28 Jun 2024NOK 204.4bNOK 211.5bNOK 13.6b13.8x15x1x
Sun, 26 May 2024NOK 197.6bNOK 209.4bNOK 12.4b15.4x16x0.9x
Tue, 23 Apr 2024NOK 184.2bNOK 205.6bNOK 9.9b9.2x18.6x0.9x
Thu, 21 Mar 2024NOK 217.9bNOK 215.5bNOK 12.9b9.1x16.9x1x
Sat, 17 Feb 2024NOK 195.7bNOK 207.2bNOK 9.6b12.1x20.4x0.9x
Mon, 15 Jan 2024NOK 205.2bNOK 235.0bNOK 11.1b8.4x18.4x0.9x
Wed, 13 Dec 2023NOK 198.8bNOK 244.3bNOK 11.5b7.9x17.3x0.8x
Fri, 10 Nov 2023NOK 210.8bNOK 231.4bNOK 7.9b9.4x26.6x0.9x
Sun, 08 Oct 2023NOK 208.2bNOK 222.4bNOK 5.5b11.8x38.1x0.9x
Tue, 05 Sep 2023NOK 216.5bNOK 215.8bNOK 5.1b9.8x42.1x1x
Thu, 03 Aug 2023NOK 199.3bNOK 195.1b-NOK 1,282,301,489.0011.6x-155.4x1x
Sat, 01 Jul 2023NOK 187.1bNOK 195.0b-NOK 375,910,793.009.9x-497.6x1x
Mon, 29 May 2023NOK 180.0bNOK 188.7b-NOK 612,961,914.0011.4x-293.7x1x
Price to Earnings Ratio

-293.7x


Total Market Cap: NOK 180.0bTotal Earnings: -NOK 612,961,914.00Total Revenue: NOK 188.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average -0.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Energy Services 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 14.2x which is higher than its 3-year average PE of -0.75x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.3x.
Past Earnings Growth
  • Total earnings for the Energy Services industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.4% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Norwegian Energy industry?

NO Market3.16%
Energy3.79%
Energy Services-1.63%
Oil and Gas Drilling-0.56%
Oil and Gas Services-1.87%
Industry PE
  • Investors are most optimistic about the Oil and Gas Drilling industry even though it's trading below its 3-year average PE ratio of 84.9x.
    • Analysts are expecting annual earnings growth of 28.2%, which is lower than the prior year's growth of 88.1% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, which is trading close to its 3-year average of 13.3x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 28% over the next 5 years.
  • However this is lower than its past earnings growth rate of 88% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 7.9% 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
TGS TGSNOK 152.801.3%
+NOK 393.0m		90.8%PS2.5x
VTURA Ventura Offshore HoldingNOK 32.905.1%
+NOK 169.5m		82.8%PE3.9x
COSH Constellation Oil Services HoldingNOK 142.001.4%
+NOK 168.9m		75.3%PS2.2x
NOL Northern OceanNOK 8.883.7%
+NOK 97.0m		48.0%PS1.1x
DDRIL Dolphin DrillingNOK 2.905.1%
+NOK 56.9m		-98.0%PS0.7x

Latest News

TGS
NOK 152.80
TGS
7D
1.3%
1Y
90.8%
SOFF
NOK 60.60
Solstad Offshore
7D
-8.3%
1Y
55.4%
ARCH
NOK 26.00
Archer
7D
-6.6%
1Y
10.6%
AKAST
NOK 14.06
Akastor
7D
-11.6%
1Y
18.8%
Analysis Article • May 21

Akastor's (OB:AKAST) Sluggish Earnings Might Be Just The Beginning Of Its Problems

The subdued market reaction suggests that Akastor ASA's ( OB:AKAST ) recent earnings didn't contain any surprises. Our...
BWO
NOK 45.65
BW Offshore
7D
-10.3%
1Y
43.6%
SOMA
NOK 27.30
Solstad Maritime
7D
-6.5%
1Y
23.6%
SUBC
NOK 310.80
Subsea 7
7D
-10.2%
1Y
89.7%
ODL
NOK 89.70
Odfjell Drilling
7D
-2.9%
1Y
46.3%
Narrative Update • May 18

ODL: Higher Margin Outlook Will Support A More Disciplined Future Earnings Multiple

Analysts have raised the Odfjell Drilling fair value estimate to NOK 115.17 from NOK 109.57, citing updated assumptions around discount rates, profit margins, and a lower future P/E multiple, alongside a series of recent downgrades that have shifted sentiment toward a more cautious stance. Analyst Commentary Recent research has generally taken a more cautious tone.
DVD
NOK 20.15
Deep Value Driller
7D
0.2%
1Y
33.8%
DOFG
NOK 128.90
DOF Group
7D
-9.2%
1Y
49.8%
VTURA
NOK 32.90
Ventura Offshore Holding
7D
5.1%
1Y
82.8%
COSH
NOK 142.00
Constellation Oil Services Holding
7D
1.4%
1Y
75.3%
JACK
NOK 5.25
Jacktel
7D
5.4%
1Y
n/a
DDRIL
NOK 2.90
Dolphin Drilling
7D
5.1%
1Y
-98.0%
NOL
NOK 8.88
Northern Ocean
7D
3.7%
1Y
48.0%
HERMA
NOK 17.00
Hermana Holding
7D
7.6%
1Y
74.5%