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Norwegian (OSEAX) Oil and Gas Services Industry Analysis

UpdatedMar 25, 2026
DataAggregated Company Financials
Companies22
  • 7D4.3%
  • 3M33.7%
  • 1Y41.0%
  • YTDn/a

In the last week, the Oil and Gas Services industry is up 2.8%, with Subsea 7 up 4.3%. Meanwhile, SED Energy Holdings actually underperformed within the industry, shrinking 5.0% in the last week. This means that the industry has gained 38% over the past year. Earnings are forecast to grow by 8.2% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Mar 2026NOK 210.6bNOK 194.6bNOK 19.3b7.8x10.9x1.1x
Fri, 20 Feb 2026NOK 198.5bNOK 188.2bNOK 17.1b7.5x11.6x1.1x
Sun, 18 Jan 2026NOK 172.8bNOK 195.2bNOK 18.6b6.4x9.3x0.9x
Tue, 16 Dec 2025NOK 155.1bNOK 196.0bNOK 18.7b5.9x8.3x0.8x
Thu, 13 Nov 2025NOK 153.7bNOK 194.4bNOK 17.1b7.3x9x0.8x
Sat, 11 Oct 2025NOK 153.1bNOK 190.6bNOK 16.3b6.2x9.4x0.8x
Mon, 08 Sep 2025NOK 155.1bNOK 189.4bNOK 16.6b6.6x9.3x0.8x
Wed, 06 Aug 2025NOK 155.1bNOK 190.8bNOK 16.2b8x9.6x0.8x
Fri, 04 Jul 2025NOK 146.9bNOK 179.3bNOK 13.8b8.1x10.6x0.8x
Sun, 01 Jun 2025NOK 134.8bNOK 180.9bNOK 13.7b7.7x9.8x0.7x
Tue, 29 Apr 2025NOK 118.0bNOK 174.2bNOK 13.9b8.8x8.5x0.7x
Thu, 27 Mar 2025NOK 135.2bNOK 176.7bNOK 14.1b8.7x9.6x0.8x
Sat, 22 Feb 2025NOK 132.4bNOK 178.6bNOK 15.9b6x8.3x0.7x
Mon, 20 Jan 2025NOK 139.4bNOK 169.7bNOK 13.8b6.3x10.1x0.8x
Wed, 18 Dec 2024NOK 126.0bNOK 167.0bNOK 13.5b7.2x9.3x0.8x
Fri, 15 Nov 2024NOK 139.0bNOK 166.8bNOK 13.0b9.9x10.7x0.8x
Sun, 13 Oct 2024NOK 140.2bNOK 160.9bNOK 11.9b8.9x11.8x0.9x
Tue, 10 Sep 2024NOK 136.7bNOK 162.2bNOK 12.0b7.7x11.4x0.8x
Thu, 08 Aug 2024NOK 147.8bNOK 161.2bNOK 12.1b11.7x12.2x0.9x
Sat, 06 Jul 2024NOK 154.2bNOK 153.4bNOK 10.0b14.2x15.5x1x
Mon, 03 Jun 2024NOK 155.4bNOK 161.0bNOK 10.5b15.4x14.8x1x
Wed, 01 May 2024NOK 145.8bNOK 166.4bNOK 10.8b11.2x13.5x0.9x
Fri, 29 Mar 2024NOK 136.2bNOK 157.4bNOK 8.7b9.7x15.6x0.9x
Sun, 25 Feb 2024NOK 117.1bNOK 152.5bNOK 7.7b9.8x15.3x0.8x
Tue, 23 Jan 2024NOK 123.8bNOK 183.0bNOK 8.8b8x14.1x0.7x
Thu, 21 Dec 2023NOK 128.7bNOK 181.2bNOK 8.7b8.7x14.8x0.7x
Sat, 18 Nov 2023NOK 128.1bNOK 178.1bNOK 8.9b8.1x14.4x0.7x
Mon, 16 Oct 2023NOK 130.9bNOK 170.8bNOK 7.1b8.8x18.5x0.8x
Wed, 13 Sep 2023NOK 126.6bNOK 166.6bNOK 6.7b9.1x18.8x0.8x
Fri, 11 Aug 2023NOK 114.7bNOK 151.2bNOK 3.6b12.1x32.2x0.8x
Sun, 09 Jul 2023NOK 111.4bNOK 149.2bNOK 4.4b12.8x25.6x0.7x
Tue, 06 Jun 2023NOK 104.9bNOK 142.4bNOK 4.4b12.8x23.7x0.7x
Thu, 04 May 2023NOK 102.3bNOK 136.5bNOK 4.2b15.7x24.3x0.7x
Sat, 01 Apr 2023NOK 113.6bNOK 133.3bNOK 4.2b16.4x27.2x0.9x
Price to Earnings Ratio

27.2x


Total Market Cap: NOK 113.6bTotal Earnings: NOK 4.2bTotal Revenue: NOK 133.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Oil and Gas Services Industry Price to Earnings3Y Average 14x202420252026
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 10.7x which is lower than its 3-year average PE of 14.0x.
  • The 3-year average PS ratio of 0.81x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Oil and Gas Equipment and Services industry have grown 67% per year over the last three years.
  • Revenues for these companies have grown 14% 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 Market-0.33%
Energy5.58%
Energy Services2.26%
Oil and Gas Services4.33%
Oil and Gas Drilling0.56%
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 267.404.3%
+NOK 3.3b		57.8%PE19.8x
DOFG DOF GroupNOK 132.806.3%
+NOK 1.9b		42.6%PE7.2x
TGS TGSNOK 124.806.7%
+NOK 1.5b		21.6%PE137.9x
AKSO Aker SolutionsNOK 43.645.9%
+NOK 1.2b		30.0%PE8.3x
SOMA Solstad MaritimeNOK 27.504.6%
+NOK 558.4m		n/aPE6.2x

Latest News

TGS
NOK 124.80
TGS
7D
6.7%
1Y
21.6%

TGS: Lower Long Term NGL Returns Will Pressure Future Share Performance

Analysts have updated their TGS view, revising the NOK price target to NOK 60.38 from NOK 65.38. The change reflects refined assumptions for long term fair value that incorporate revised return expectations on key NGL projects and slightly improved profit margin forecasts.
AKSO
NOK 43.64
Aker Solutions
7D
5.9%
1Y
30.0%
JACK
NOK 4.20
Jacktel
7D
-3.4%
1Y
n/a
SUBC
NOK 267.40
Subsea 7
7D
4.3%
1Y
57.8%

SUBC: Offshore Backlog And Margin Sustainability Will Shape Balanced Future Prospects

The updated analyst price target for Subsea 7 rises from NOK 228.39 to NOK 274.67, reflecting analysts' higher NOK 254 to NOK 320 price targets that cite Q4 results with high utilization and firmer margins as key support. Analyst Commentary Recent research updates show a wide range of views on Subsea 7, with several bullish analysts lifting price targets while others have moved to more cautious stances.
SOFF
NOK 62.30
Solstad Offshore
7D
4.0%
1Y
68.0%
DOFG
NOK 132.80
DOF Group
7D
6.3%
1Y
42.6%

DOFG: New Contract Wins And Fleet Upgrades Will Support Future Upside

Analysts have kept their NOK fair value target for DOF Group steady at NOK 141, with small adjustments to assumptions around discount rate, revenue growth, profit margins and future P/E, which together result in a largely unchanged view on upside potential. What's in the News Agreement to acquire two very high end AHTS vessels, Aurora Saltfjord and Aurora Sandefjord, with a combined net investment of about US$100 million, partly funded by available debt, alongside the planned sale of AHTS vessel Skandi Laser, which is expected to generate an approximately US$12 million gain in Q2 2026 (company announcement).
NORAM
NOK 44.40
NorAm Drilling
7D
-1.3%
1Y
40.1%
ABL
NOK 11.20
ABL Group
7D
-3.9%
1Y
15.7%
PRS
NOK 3.24
Prosafe
7D
-3.6%
1Y
-58.7%
PSE
NOK 5.48
Petrolia
7D
-3.2%
1Y
37.0%
ENH
NOK 8.34
SED Energy Holdings
7D
-5.0%
1Y
n/a

Backlog Visibility And Offshore Demand Will Support Steady Cash Generation Over The Coming Years

Catalysts About SED Energy Holdings SED Energy Holdings is an industrial holding company focused on offshore energy services through its Energy Drilling and SeaBird Exploration subsidiaries. What are the underlying business or industry changes driving this perspective?
EIOF
NOK 15.00
Eidesvik Offshore
7D
-1.3%
1Y
23.4%
SOMA
NOK 27.50
Solstad Maritime
7D
4.6%
1Y
n/a
SEA1
NOK 30.90
Sea1 Offshore
7D
4.7%
1Y
47.1%
AKAST
NOK 15.44
Akastor
7D
4.9%
1Y
17.0%
SDSD
NOK 1.86
S.D. Standard ETC
7D
-1.9%
1Y
-1.0%