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Norwegian (OSEAX) Oil and Gas Services Industry Analysis

UpdatedFeb 07, 2026
DataAggregated Company Financials
Companies23
  • 7D0.7%
  • 3M23.5%
  • 1Y18.1%
  • YTDn/a

In the last week, the Oil and Gas Services industry is up 4.2%, with Subsea 7 up 5.5%. In the same time, Jacktel was down 13%. This means that the industry has gained 17% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Industry Valuation and Performance

Has the Norwegian Oil and Gas Services Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 07 Feb 2026NOK 185.1bNOK 189.8bNOK 18.0b7.2x10.3x1x
Mon, 05 Jan 2026NOK 160.9bNOK 194.9bNOK 18.6b5.8x8.7x0.8x
Wed, 03 Dec 2025NOK 148.8bNOK 194.9bNOK 17.5b5.7x8.5x0.8x
Fri, 31 Oct 2025NOK 145.7bNOK 189.5bNOK 16.5b6.2x8.8x0.8x
Sun, 28 Sep 2025NOK 159.7bNOK 188.6bNOK 16.1b6.7x9.9x0.8x
Tue, 26 Aug 2025NOK 162.5bNOK 190.6bNOK 16.6b6.7x9.8x0.9x
Thu, 24 Jul 2025NOK 143.4bNOK 183.2bNOK 12.6b8.9x11.4x0.8x
Sat, 21 Jun 2025NOK 142.1bNOK 179.8bNOK 13.9b8x10.2x0.8x
Mon, 19 May 2025NOK 129.1bNOK 183.4bNOK 14.0b7.8x9.2x0.7x
Wed, 16 Apr 2025NOK 113.3bNOK 177.7bNOK 14.1b8.2x8x0.6x
Fri, 14 Mar 2025NOK 124.0bNOK 178.1bNOK 14.2b8.4x8.7x0.7x
Sun, 09 Feb 2025NOK 133.8bNOK 167.5bNOK 13.6b6.4x9.9x0.8x
Tue, 07 Jan 2025NOK 138.8bNOK 167.8bNOK 13.6b6.5x10.2x0.8x
Thu, 05 Dec 2024NOK 131.1bNOK 165.3bNOK 13.3b7.9x9.8x0.8x
Sat, 02 Nov 2024NOK 135.2bNOK 166.2bNOK 12.7b9x10.6x0.8x
Mon, 30 Sep 2024NOK 129.9bNOK 158.9bNOK 11.7b8.1x11.1x0.8x
Wed, 28 Aug 2024NOK 152.1bNOK 158.7bNOK 11.8b14.6x12.8x1x
Fri, 26 Jul 2024NOK 162.0bNOK 161.0bNOK 11.8b12.3x13.7x1x
Sun, 23 Jun 2024NOK 148.5bNOK 162.2bNOK 10.6b13.8x14x0.9x
Tue, 21 May 2024NOK 148.0bNOK 162.9bNOK 10.5b14.1x14.1x0.9x
Thu, 18 Apr 2024NOK 141.5bNOK 158.8bNOK 8.8b10.1x16.1x0.9x
Sat, 16 Mar 2024NOK 131.3bNOK 155.9bNOK 8.6b9x15.2x0.8x
Mon, 12 Feb 2024NOK 113.9bNOK 153.2bNOK 7.0b8.7x16.3x0.7x
Wed, 10 Jan 2024NOK 126.2bNOK 181.5bNOK 8.7b8.2x14.5x0.7x
Fri, 08 Dec 2023NOK 121.5bNOK 186.1bNOK 8.9b7.6x13.7x0.7x
Sun, 05 Nov 2023NOK 131.2bNOK 177.0bNOK 7.7b8.3x17.1x0.7x
Tue, 03 Oct 2023NOK 130.9bNOK 167.7bNOK 7.0b9.1x18.6x0.8x
Thu, 31 Aug 2023NOK 122.2bNOK 165.2bNOK 6.2b8.6x19.6x0.7x
Sat, 29 Jul 2023NOK 111.1bNOK 150.6bNOK 3.5b12.8x31.3x0.7x
Mon, 26 Jun 2023NOK 98.5bNOK 140.8bNOK 4.4b12.1x22.6x0.7x
Wed, 24 May 2023NOK 105.9bNOK 141.8bNOK 4.5b22.1x23.4x0.7x
Fri, 21 Apr 2023NOK 107.1bNOK 134.3bNOK 4.2b15.7x25.3x0.8x
Sun, 19 Mar 2023NOK 111.3bNOK 135.6bNOK 4.3b16.1x26.2x0.8x
Tue, 14 Feb 2023NOK 117.3bNOK 132.7bNOK 13.3b9.2x8.8x0.9x
Price to Earnings Ratio

8.8x


Total Market Cap: NOK 117.3bTotal Earnings: NOK 13.3bTotal Revenue: NOK 132.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Services Industry Price to Earnings3Y Average 14.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Oil and Gas Equipment and 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 10.2x which is lower than its 3-year average PE of 14.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.80x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have grown 14% per year over the last three years.
  • Revenues for these companies have grown 13% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Comparison

How does Norwegian Oil and Gas Services compare with similar industries?

NO Market2.65%
Energy1.00%
Energy Services0.63%
Oil and Gas Services0.68%
Oil and Gas Drilling0.59%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
AKSO Aker SolutionsNOK 38.008.3%
+NOK 1.4b		20.6%PE7.3x
DOFG DOF GroupNOK 114.301.3%
+NOK 369.4m		21.8%PE7x
SEA1 Sea1 OffshoreNOK 25.803.6%
+NOK 137.8m		17.8%PE4x
ENH SED Energy HoldingsNOK 8.541.9%
+NOK 116.2m		n/an/a
BWO BW OffshoreNOK 47.250.5%
+NOK 45.5m		47.7%PE5.9x

Latest News

AKSO
NOK 38.00
Aker Solutions
7D
8.3%
1Y
20.6%
EMGS
NOK 0.32
Electromagnetic Geoservices
7D
60.5%
1Y
-84.6%

There's No Escaping Electromagnetic Geoservices ASA's (OB:EMGS) Muted Revenues Despite A 77% Share Price Rise

Feb 03
There's No Escaping Electromagnetic Geoservices ASA's (OB:EMGS) Muted Revenues Despite A 77% Share Price Rise
SEA1
NOK 25.80
Sea1 Offshore
7D
3.6%
1Y
17.8%

SEA1: Extended Contract And Oslo Listing Plans Will Support Upside

Analysts have adjusted their price target for Sea1 Offshore to reflect updated assumptions around the discount rate, profit margin, and future P/E. The revised fair value is now estimated at $30.35 per share.
SUBC
NOK 243.60
Subsea 7
7D
-0.8%
1Y
31.3%

SUBC: Contract Backlog And Margin Outlook Will Support Earnings Multiple Reassessment

Analysts have lifted their price target on Subsea 7 by NOK 17 to NOK 208, citing updated assumptions around fair value, discount rate, revenue growth, profit margin and future P/E that align with recent Street research revisions. Analyst Commentary Recent Street commentary on Subsea 7 has focused on how updated valuation assumptions feed into revised price targets, with JPMorgan playing a visible role in the latest adjustments.
DOFG
NOK 114.30
DOF Group
7D
1.3%
1Y
21.8%

DOFG: Long Dated Petrobras And Global Contracts Will Support Earnings Momentum

Analysts have modestly lifted their price target on DOF Group to reflect a slightly lower discount rate and a higher assumed future P/E of 10.02x, while keeping fair value broadly steady at $130.80. What's in the News Large turnkey contract awarded with MODEC Guyana Inc.
ABL
NOK 9.50
ABL Group
7D
-4.0%
1Y
-4.2%

Investors Met With Slowing Returns on Capital At ABL Group (OB:ABL)

Jan 30
Investors Met With Slowing Returns on Capital At ABL Group (OB:ABL)
AKAST
NOK 13.30
Akastor
7D
-0.7%
1Y
0.9%

Akastor (OB:AKAST) Has A Pretty Healthy Balance Sheet

Jan 29
Akastor (OB:AKAST) Has A Pretty Healthy Balance Sheet
REACH
NOK 7.17
Reach Subsea
7D
-3.1%
1Y
-13.4%

Some Shareholders Feeling Restless Over Reach Subsea ASA's (OB:REACH) P/E Ratio

Jan 28
Some Shareholders Feeling Restless Over Reach Subsea ASA's (OB:REACH) P/E Ratio
TGS
NOK 101.20
TGS
7D
0.2%
1Y
-8.6%

TGS: Softer Long Term Revenue Assumptions Will Outweigh New Survey Agreements

Analysts have reduced their price target for TGS by US$5.70, citing slightly softer long term revenue assumptions, a modestly lower P/E outlook, and a firmer profit margin profile as the main drivers of the change. What's in the News TGS ASA launched the APEX 1 next generation multi client long offset Ocean Bottom Node campaign in the Gulf of America, with acquisition running from December 2025 through late second quarter 2026 and final data delivery planned for fourth quarter 2027, supported by industry funding (Key Developments).
DFENS
NOK 15.68
Fjord Defence Group
7D
-7.1%
1Y
117.8%
NORAM
NOK 33.55
NorAm Drilling
7D
0.9%
1Y
-1.0%
SOFF
NOK 50.50
Solstad Offshore
7D
-0.6%
1Y
24.7%
ENH
NOK 8.54
SED Energy Holdings
7D
1.9%
1Y
n/a
SDSD
NOK 1.87
S.D. Standard ETC
7D
-1.3%
1Y
9.4%
PRS
NOK 3.51
Prosafe
7D
-2.4%
1Y
-60.6%
BWO
NOK 47.25
BW Offshore
7D
0.5%
1Y
47.7%