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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedSep 29, 2025
DataAggregated Company Financials
Companies32
  • 7D2.5%
  • 3M18.4%
  • 1Y6.7%
  • YTD8.0%

Over the last 7 days, the Energy Services industry has risen 1.6%, driven by gains from Subsea 7 of 4.3%. During this same period, the Shelf Drilling (North Sea) underperformed, falling 29%. This means that the industry has gained 7.8% over the past year. Earnings are forecast to grow by 53% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 29 Sep 2025NOK 362.4bNOK 238.5bNOK 16.8b6.7x21.6x1.5x
Wed, 27 Aug 2025NOK 341.0bNOK 240.7bNOK 17.8b6.8x19.2x1.4x
Fri, 25 Jul 2025NOK 302.7bNOK 233.2bNOK 13.5b8.1x22.3x1.3x
Sun, 22 Jun 2025NOK 181.3bNOK 229.6bNOK 14.8b7.1x12.2x0.8x
Tue, 20 May 2025NOK 164.8bNOK 232.2bNOK 16.8b6.7x9.8x0.7x
Thu, 17 Apr 2025NOK 148.8bNOK 219.2bNOK 16.6b7.8x8.9x0.7x
Sat, 15 Mar 2025NOK 164.1bNOK 219.3bNOK 16.7b7.9x9.8x0.7x
Mon, 10 Feb 2025NOK 170.8bNOK 211.6bNOK 16.6b6.5x10.3x0.8x
Wed, 08 Jan 2025NOK 174.6bNOK 212.8bNOK 16.7b6.6x10.5x0.8x
Fri, 06 Dec 2024NOK 175.6bNOK 219.6bNOK 17.3b7.9x10.2x0.8x
Sun, 03 Nov 2024NOK 180.9bNOK 218.2bNOK 18.0b11.2x10x0.8x
Tue, 01 Oct 2024NOK 183.3bNOK 211.1bNOK 16.3b8.6x11.2x0.9x
Thu, 29 Aug 2024NOK 201.5bNOK 209.8bNOK 15.1b14x13.3x1x
Sat, 27 Jul 2024NOK 224.7bNOK 214.9bNOK 15.0b11.2x15x1x
Mon, 24 Jun 2024NOK 197.9bNOK 210.2bNOK 13.5b13.8x14.7x0.9x
Wed, 22 May 2024NOK 193.8bNOK 209.9bNOK 12.1b13.7x16.1x0.9x
Fri, 19 Apr 2024NOK 186.5bNOK 206.0bNOK 9.9b9.3x18.8x0.9x
Sun, 17 Mar 2024NOK 216.9bNOK 216.6bNOK 12.9b9x16.8x1x
Tue, 13 Feb 2024NOK 196.3bNOK 207.5bNOK 9.5b9.1x20.6x0.9x
Thu, 11 Jan 2024NOK 203.7bNOK 235.8bNOK 11.2b8.2x18.2x0.9x
Sat, 09 Dec 2023NOK 199.1bNOK 243.3bNOK 11.4b7.9x17.4x0.8x
Mon, 06 Nov 2023NOK 216.6bNOK 229.8bNOK 7.8b8.3x27.8x0.9x
Wed, 04 Oct 2023NOK 218.3bNOK 219.5bNOK 5.4b10.3x40.1x1x
Fri, 01 Sep 2023NOK 212.3bNOK 215.8bNOK 5.1b9.2x41.5x1x
Sun, 30 Jul 2023NOK 195.3bNOK 194.0b-NOK 1,252,291,758.0011.8x-155.9x1x
Tue, 27 Jun 2023NOK 171.5bNOK 195.0b-NOK 375,472,042.009.8x-456.8x0.9x
Thu, 25 May 2023NOK 182.4bNOK 187.6b-NOK 1,271,038,207.0011.6x-143.5x1x
Sat, 22 Apr 2023NOK 179.9bNOK 176.8bNOK 37.9b15.2x4.7x1x
Mon, 20 Mar 2023NOK 173.1bNOK 178.7bNOK 38.7b13.4x4.5x1x
Wed, 15 Feb 2023NOK 180.0bNOK 168.4bNOK 47.2b8.1x3.8x1.1x
Fri, 13 Jan 2023NOK 145.7bNOK 159.8bNOK 43.8b7.5x3.3x0.9x
Sun, 11 Dec 2022NOK 132.2bNOK 160.2bNOK 44.0b6.5x3x0.8x
Tue, 08 Nov 2022NOK 150.7bNOK 170.5bNOK 44.4b8.1x3.4x0.9x
Thu, 06 Oct 2022NOK 123.8bNOK 170.0bNOK 34.0b9.3x3.6x0.7x
Price to Earnings Ratio

3.6x


Total Market Cap: NOK 123.8bTotal Earnings: NOK 34.0bTotal Revenue: NOK 170.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average -5.7x202320242025
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 21.6x which is higher than its 3-year average PE of -5.7x.
  • The 3-year average PS ratio of 0.93x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have declined 21% per year over the last three years.
  • Meanwhile revenues for these companies have grown 12% 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 Energy industry?

NO Market1.78%
Energy5.05%
Energy Services2.52%
Oil and Gas Services4.33%
Oil and Gas Drilling1.12%
Industry PE
  • Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio of 25.3x.
    • Analysts are expecting annual earnings growth of 78.3%, which is higher than its past year's earnings decline of 24.1% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, which is trading below its 3-year average of 12.6x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 78% over the next 5 years.
  • This is better than its past earnings decline of 24% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 19% 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
SUBC Subsea 7NOK 209.804.9%
+NOK 2.9b		23.0%PE23.2x
COSH Constellation Oil Services HoldingNOK 107.000.9%
+NOK 1.5b		n/aPS30.4x
DOFG DOF GroupNOK 99.805.3%
+NOK 1.2b		13.9%PE6.5x
TGS TGSNOK 76.157.6%
+NOK 1.1b		-22.8%PE60x
AKSO Aker SolutionsNOK 30.805.3%
+NOK 744.3m		-24.1%PE6.7x

Latest News

SUBC
NOK 209.80
Subsea 7
7D
4.9%
1Y
23.0%
REACH
NOK 7.80
Reach Subsea
7D
27.9%
1Y
0%
ARCH
NOK 22.80
Archer
7D
-5.0%
1Y
0.4%

Recurring Operations And Energy Transition Will Secure Future Resilience

The consensus analyst price target for Archer has been revised downward to NOK35.00, primarily reflecting a sharp increase in future P/E and a moderation in expected revenue growth. What's in the News Archer completed a NOK 684.7 million follow-on equity offering, issuing 21,583,826 and 8,848,000 ordinary shares at NOK 22.5 per share under Regulation S with a subsequent direct listing.
DOFG
NOK 99.80
DOF Group
7D
5.3%
1Y
13.9%

Petrobras Contracts And Flexible Vessels Will Secure Offshore Potential

The consensus analyst price target for DOF Group has increased to NOK125.00, driven by sharply higher estimates for both future P/E and revenue growth. What's in the News DOF Group ASA secured a three-year contract extension for Skandi Patagonia with TotalEnergies in Argentina, effective from January 2026, including two additional one-year extension options.
DFENS
NOK 13.00
Fjord Defence Group
7D
-9.3%
1Y
46.4%
TGS
NOK 76.15
TGS
7D
7.6%
1Y
-22.8%
BWO
NOK 37.80
BW Offshore
7D
4.1%
1Y
33.1%
COSH
NOK 107.00
Constellation Oil Services Holding
7D
0.9%
1Y
n/a

We Think Constellation Oil Services Holding (OB:COSH) Has A Fair Chunk Of Debt

Sep 20
We Think Constellation Oil Services Holding (OB:COSH) Has A Fair Chunk Of Debt
NOL
NOK 6.10
Northern Ocean
7D
-1.8%
1Y
-12.9%
PLSV
NOK 41.68
Paratus Energy Services
7D
-0.4%
1Y
-22.9%

Paratus Energy Services Ltd. Just Missed EPS By 64%: Here's What Analysts Think Will Happen Next

Aug 29
Paratus Energy Services Ltd. Just Missed EPS By 64%: Here's What Analysts Think Will Happen Next
EIOF
NOK 13.10
Eidesvik Offshore
7D
-5.1%
1Y
-17.9%
SOMA
NOK 23.25
Solstad Maritime
7D
-2.5%
1Y
n/a

Solstad Maritime (OB:SOMA) Seems To Use Debt Quite Sensibly

Aug 25
Solstad Maritime (OB:SOMA) Seems To Use Debt Quite Sensibly
ODL
NOK 80.30
Odfjell Drilling
7D
3.9%
1Y
57.8%

Odfjell Drilling Ltd. Just Beat EPS By 70%: Here's What Analysts Think Will Happen Next

Aug 22
Odfjell Drilling Ltd. Just Beat EPS By 70%: Here's What Analysts Think Will Happen Next
AKSO
NOK 30.80
Aker Solutions
7D
5.3%
1Y
-24.1%
DVD
NOK 19.54
Deep Value Driller
7D
-1.2%
1Y
-2.8%
SDNS
NOK 21.00
Shelf Drilling (North Sea)
7D
-29.3%
1Y
-31.6%