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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedAug 21, 2026
DataAggregated Company Financials
Companies30
  • 7D1.4%
  • 3M2.8%
  • 1Y41.0%
  • YTD38.0%

In the last week, the Energy Services industry is up 1.5%, with TGS leading the way, up 3.7%. Meanwhile, Sea1 Offshore actually underperformed within the industry, shrinking 5.5% in the last week. This means that the industry has gained 42% over the past year. Looking forward, earnings are forecast to grow by 7.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 21 Aug 2026NOK 289.9bNOK 234.1bNOK 23.7b7.9x12.2x1.2x
Sun, 19 Jul 2026NOK 269.4bNOK 234.3bNOK 22.4b6.7x12x1.2x
Tue, 16 Jun 2026NOK 285.6bNOK 234.0bNOK 21.7b7x13.1x1.2x
Thu, 14 May 2026NOK 292.8bNOK 226.4bNOK 19.9b7.8x14.7x1.3x
Sat, 11 Apr 2026NOK 284.6bNOK 232.1bNOK 19.3b8.9x14.7x1.2x
Mon, 09 Mar 2026NOK 439.0bNOK 233.4bNOK 20.0b8x21.9x1.9x
Wed, 04 Feb 2026NOK 401.4bNOK 229.5bNOK 18.5b7.1x21.7x1.7x
Fri, 02 Jan 2026NOK 377.4bNOK 236.7bNOK 19.2b6x19.6x1.6x
Sun, 30 Nov 2025NOK 364.3bNOK 246.1bNOK 19.3b6.2x18.9x1.5x
Tue, 28 Oct 2025NOK 344.5bNOK 238.4bNOK 17.0b6.4x20.2x1.4x
Thu, 25 Sep 2025NOK 356.4bNOK 238.1bNOK 16.8b6.6x21.3x1.5x
Sat, 23 Aug 2025NOK 332.6bNOK 239.6bNOK 17.9b6.6x18.5x1.4x
Mon, 21 Jul 2025NOK 298.4bNOK 234.2bNOK 13.6b8x21.9x1.3x
Wed, 18 Jun 2025NOK 183.0bNOK 226.8bNOK 14.6b7.4x12.5x0.8x
Fri, 16 May 2025NOK 163.1bNOK 232.9bNOK 16.0b6.6x10.2x0.7x
Sun, 13 Apr 2025NOK 144.3bNOK 219.6bNOK 16.7b7.9x8.7x0.7x
Tue, 11 Mar 2025NOK 159.9bNOK 221.3bNOK 16.8b7.5x9.5x0.7x
Thu, 06 Feb 2025NOK 172.8bNOK 211.1bNOK 16.5b6.4x10.5x0.8x
Sat, 04 Jan 2025NOK 174.4bNOK 213.4bNOK 16.7b6.5x10.4x0.8x
Mon, 02 Dec 2024NOK 173.7bNOK 219.3bNOK 17.2b8.4x10.1x0.8x
Wed, 30 Oct 2024NOK 178.7bNOK 217.4bNOK 17.9b8.8x10x0.8x
Fri, 27 Sep 2024NOK 178.7bNOK 210.9bNOK 16.3b8.1x11x0.8x
Sun, 25 Aug 2024NOK 208.3bNOK 208.7bNOK 16.4b14x12.7x1x
Tue, 23 Jul 2024NOK 226.2bNOK 211.7bNOK 14.5b10.7x15.6x1.1x
Thu, 20 Jun 2024NOK 196.6bNOK 210.0bNOK 13.5b13.8x14.6x0.9x
Sat, 18 May 2024NOK 192.5bNOK 210.1bNOK 12.0b12.1x16.1x0.9x
Mon, 15 Apr 2024NOK 191.0bNOK 204.1bNOK 9.9b9.9x19.3x0.9x
Wed, 13 Mar 2024NOK 208.4bNOK 215.1bNOK 12.9b9.3x16.2x1x
Fri, 09 Feb 2024NOK 192.9bNOK 209.4bNOK 9.6b8.9x20.1x0.9x
Sun, 07 Jan 2024NOK 215.7bNOK 235.2bNOK 11.1b8.5x19.4x0.9x
Tue, 05 Dec 2023NOK 204.8bNOK 242.4bNOK 11.4b7.9x18x0.8x
Thu, 02 Nov 2023NOK 215.7bNOK 231.6bNOK 6.2b9.5x34.7x0.9x
Sat, 30 Sep 2023NOK 221.2bNOK 217.0bNOK 5.4b10.9x40.7x1x
Mon, 28 Aug 2023NOK 209.2bNOK 215.6bNOK 4.2b10.3x49.4x1x
Price to Earnings Ratio

49.4x


Total Market Cap: NOK 209.2bTotal Earnings: NOK 4.2bTotal Revenue: NOK 215.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average 17.3x202420252026
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 12.2x which is lower than its 3-year average PE of 17.3x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 77% per year over the last three years.
  • Revenues for these companies have grown 2.4% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NO Market0.97%
Energy5.55%
Energy Services1.44%
Oil and Gas Drilling2.55%
Oil and Gas Services1.19%
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 89.3x.
    • Analysts are expecting annual earnings growth of 23.7%, which is lower than the prior year's growth of 59.0% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, which is trading below its 3-year average of 11.9x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 24% over the next 5 years.
  • However this is lower than its past earnings growth rate of 59% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 3.4% 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 140.203.7%
+NOK 982.5m		84.5%PE30.2x
AKSO Aker SolutionsNOK 44.224.4%
+NOK 904.1m		42.6%PE6.6x
ODL Odfjell DrillingNOK 93.603.4%
+NOK 743.4m		17.0%PE10.7x
DOFG DOF GroupNOK 132.801.8%
+NOK 591.1m		35.9%PE7.4x
PLSV Paratus Energy ServicesNOK 52.205.9%
+NOK 471.9m		24.8%PE8.5x

Latest News

DOFG
NOK 132.80
DOF Group
7D
1.8%
1Y
35.9%
ODL
NOK 93.60
Odfjell Drilling
7D
3.4%
1Y
17.0%
REACH
NOK 5.87
Reach Subsea
7D
8.7%
1Y
-27.7%
TGS
NOK 140.20
TGS
7D
3.7%
1Y
84.5%
DDRIL
NOK 2.40
Dolphin Drilling
7D
-3.2%
1Y
15.9%
SEA1
NOK 28.35
Sea1 Offshore
7D
-5.5%
1Y
9.7%
Analysis Article • Aug 19

Sea1 Offshore Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Sea1 Offshore Inc. ( OB:SEA1 ) just released its second-quarter report and things are looking bullish. Sea1 Offshore...
ARCH
NOK 24.50
Archer
7D
-0.6%
1Y
4.3%
PLSV
NOK 52.20
Paratus Energy Services
7D
5.9%
1Y
24.8%
SUBC
NOK 342.20
Subsea 7
7D
0.4%
1Y
66.3%
Narrative Update • Aug 11

SUBC: Saipem Merger Progress And Backlog Strength Will Support Higher Earnings Multiple

The updated analyst price target for Subsea 7 reflects a move higher from NOK 438.35 to NOK 457.16, broadly in line with a series of recent target increases and ratings upgrades from analysts who cite adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Recent Street research on Subsea 7 points to a cluster of higher price targets and rating upgrades in 2026.
SOFF
NOK 69.60
Solstad Offshore
7D
-0.3%
1Y
32.1%
Narrative Update • Jul 27

SOFF: Long-Term Vessel Contracts And Dividends Will Support Upside Potential

Solstad Offshore's analyst fair value estimate has been revised from NOK 71 to NOK 79.50, with analysts pointing to updated assumptions around discount rates, revenue growth, margins and future P/E as key drivers behind the new price target. What's in the News for Solstad Offshore The board has approved a cash dividend of US$0.15 per share for the second quarter of 2026, totaling about US$12.4 million.
AKSO
NOK 44.22
Aker Solutions
7D
4.4%
1Y
42.6%
SOMA
NOK 28.80
Solstad Maritime
7D
-1.0%
1Y
14.1%
PRS
NOK 5.61
Prosafe
7D
-6.0%
1Y
26.6%
Narrative Update • Jun 26

PRS: Upgrade To Buy Will Highlight Future Offshore Accommodation Contract Potential

Analysts have raised their price target on Prosafe to NOK 5.50 from about NOK 3.53, citing updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E. This change is also reflected in a recent upgrade to Buy from Hold.
VOIM
NOK 0.56
Voim
7D
-17.0%
1Y
-65.6%
BWO
NOK 45.50
BW Offshore
7D
1.8%
1Y
19.1%
ENH
NOK 7.96
SED Energy Holdings
7D
-2.0%
1Y
-12.3%