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Norwegian (OSEAX) Oil and Gas Services Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies23
  • 7D3.8%
  • 3M-0.9%
  • 1Y4.8%
  • YTDn/a

The Oil and Gas Services industry is up 1.4% in the last week, with Subsea 7 up 5.1%. In the last 12 months, the industry was up 4.7%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Dec 2025NOK 157.3bNOK 194.8bNOK 18.6b5.6x8.5x0.8x
Fri, 21 Nov 2025NOK 152.4bNOK 195.4bNOK 17.4b7.3x8.8x0.8x
Sun, 19 Oct 2025NOK 143.7bNOK 189.6bNOK 16.2b5.8x8.9x0.8x
Tue, 16 Sep 2025NOK 153.7bNOK 186.8bNOK 15.9b6.6x9.7x0.8x
Thu, 14 Aug 2025NOK 156.1bNOK 190.1bNOK 16.1b8x9.7x0.8x
Sat, 12 Jul 2025NOK 146.9bNOK 179.3bNOK 13.8b8.2x10.6x0.8x
Mon, 09 Jun 2025NOK 137.2bNOK 179.6bNOK 13.9b7.8x9.9x0.8x
Wed, 07 May 2025NOK 118.9bNOK 177.1bNOK 12.8b9.5x9.3x0.7x
Fri, 04 Apr 2025NOK 122.3bNOK 174.8bNOK 13.9b8.7x8.8x0.7x
Sun, 02 Mar 2025NOK 132.4bNOK 184.0bNOK 14.6b8x9.1x0.7x
Tue, 28 Jan 2025NOK 136.8bNOK 167.6bNOK 13.6b6.3x10.1x0.8x
Thu, 26 Dec 2024NOK 128.3bNOK 168.4bNOK 13.6b6.2x9.4x0.8x
Sat, 23 Nov 2024NOK 142.8bNOK 169.2bNOK 13.4b9.3x10.6x0.8x
Mon, 21 Oct 2024NOK 133.1bNOK 163.1bNOK 12.1b8.8x11x0.8x
Wed, 18 Sep 2024NOK 138.2bNOK 159.9bNOK 11.8b7.9x11.7x0.9x
Fri, 16 Aug 2024NOK 151.0bNOK 160.7bNOK 12.1b13.4x12.5x0.9x
Sun, 14 Jul 2024NOK 156.6bNOK 159.3bNOK 11.6b13.7x13.5x1x
Tue, 11 Jun 2024NOK 149.4bNOK 162.7bNOK 10.6b14.2x14.1x0.9x
Thu, 09 May 2024NOK 148.5bNOK 165.1bNOK 11.3b13.1x13.2x0.9x
Sat, 06 Apr 2024NOK 139.0bNOK 156.4bNOK 8.7b9.8x16x0.9x
Mon, 04 Mar 2024NOK 126.4bNOK 156.0bNOK 8.3b10.9x15.3x0.8x
Wed, 31 Jan 2024NOK 120.9bNOK 182.3bNOK 8.8b7.9x13.8x0.7x
Fri, 29 Dec 2023NOK 130.5bNOK 180.0bNOK 8.7b8.7x15x0.7x
Sun, 26 Nov 2023NOK 130.3bNOK 177.0bNOK 8.8b8.1x14.9x0.7x
Tue, 24 Oct 2023NOK 125.6bNOK 172.1bNOK 7.1b9x17.6x0.7x
Thu, 21 Sep 2023NOK 133.8bNOK 166.7bNOK 6.8b10.1x19.8x0.8x
Sat, 19 Aug 2023NOK 122.6bNOK 164.5bNOK 3.5b12.7x34.5x0.7x
Mon, 17 Jul 2023NOK 109.3bNOK 148.1bNOK 4.3b12.3x25.4x0.7x
Wed, 14 Jun 2023NOK 102.5bNOK 139.3bNOK 4.3b12.9x23.7x0.7x
Fri, 12 May 2023NOK 103.0bNOK 138.9bNOK 4.5b18.4x23.1x0.7x
Sun, 09 Apr 2023NOK 117.5bNOK 133.5bNOK 4.2b16.8x28.1x0.9x
Tue, 07 Mar 2023NOK 122.8bNOK 133.1bNOK 4.2b16.8x29.5x0.9x
Thu, 02 Feb 2023NOK 108.2bNOK 126.2bNOK 11.5b9.7x9.4x0.9x
Sat, 31 Dec 2022NOK 95.4bNOK 124.3bNOK 10.8b7.1x8.8x0.8x
Price to Earnings Ratio

8.8x


Total Market Cap: NOK 95.4bTotal Earnings: NOK 10.8bTotal Revenue: NOK 124.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Services Industry Price to Earnings3Y Average 14.3x202320242025
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 8.4x 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 20% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market1.89%
Energy1.91%
Energy Services1.54%
Oil and Gas Services3.78%
Oil and Gas Drilling-0.029%
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
SUBC Subsea 7NOK 205.005.9%
+NOK 3.4b		15.5%PE21x
BWO BW OffshoreNOK 44.4017.3%
+NOK 1.2b		57.4%PE5.3x
DOFG DOF GroupNOK 94.253.5%
+NOK 775.8m		12.2%PE5.6x
TGS TGSNOK 88.502.8%
+NOK 471.4m		-20.0%PE35x
AKSO Aker SolutionsNOK 30.361.7%
+NOK 251.4m		-2.1%PE5.9x

Latest News

HAVI
NOK 0.79
Havila Shipping
7D
-10.5%
1Y
-63.6%
BWO
NOK 44.40
BW Offshore
7D
17.3%
1Y
57.4%
DFENS
NOK 12.53
Fjord Defence Group
7D
-2.8%
1Y
83.2%
SOMA
NOK 17.76
Solstad Maritime
7D
0.1%
1Y
n/a

Does Solstad Maritime (OB:SOMA) Have A Healthy Balance Sheet?

Dec 19
Does Solstad Maritime (OB:SOMA) Have A Healthy Balance Sheet?
SEA1
NOK 22.75
Sea1 Offshore
7D
-1.7%
1Y
-6.6%

SEA1: Brazil Contract Will Drive Future Upside As Listing Shift Nears

Analysts have modestly lowered their price target on Sea1 Offshore to reflect a slightly reduced future valuation multiple, trimming the fair value estimate by approximately $0.00 to about $30.35 per share while maintaining largely unchanged assumptions for revenue growth and profit margins. What's in the News Shareholders at an Extraordinary General Meeting on 12 December 2025 approved amendments to Sea1 Offshore Inc.'s articles of association, formalizing previously proposed changes to the company bylaws (Key Developments).
SUBC
NOK 205.00
Subsea 7
7D
5.9%
1Y
15.5%
AKSO
NOK 30.36
Aker Solutions
7D
1.7%
1Y
-2.1%
NORAM
NOK 31.45
NorAm Drilling
7D
-2.2%
1Y
-1.3%
TGS
NOK 88.50
TGS
7D
2.8%
1Y
-20.0%

TGS: Contract Wins And Index Removal Will Shape Balanced Forward Outlook

Analysts have lowered their price target on TGS to NOK 70 from NOK 88, reflecting a slightly higher discount rate and a modestly richer future P E multiple. Together, these factors point to a less favorable risk reward profile.
ABL
NOK 8.66
ABL Group
7D
-1.1%
1Y
-10.7%
PSE
NOK 4.58
Petrolia
7D
-2.8%
1Y
6.5%
SOFF
NOK 42.80
Solstad Offshore
7D
-0.9%
1Y
7.0%
DOFG
NOK 94.25
DOF Group
7D
3.5%
1Y
12.2%

DOFG: Expanded Brazilian Contracts Will Drive Earnings Momentum Into 2027

Analysts have raised their price target on DOF Group from NOK 125 to NOK 131.33, citing adjustments to discount rates and updated profit expectations. This comes despite a more conservative outlook on revenue growth and profit margins.
AKAST
NOK 10.98
Akastor
7D
1.5%
1Y
-15.4%
SDSD
NOK 1.87
S.D. Standard ETC
7D
1.1%
1Y
8.4%
ENH
NOK 7.96
SED Energy Holdings
7D
-3.2%
1Y
n/a