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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedJun 12, 2026
DataAggregated Company Financials
Companies30
  • 7D3.6%
  • 3M12.6%
  • 1Y40.0%
  • YTD36.7%

Over the last 7 days, the Energy Services industry has risen 3.6%, driven by gains from Subsea 7 of 8.1%. This takes the industry's 12 month performance to a gain of 40%. Looking forward, earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 12 Jun 2026NOK 287.1bNOK 232.9bNOK 21.6b7.4x13.3x1.2x
Sun, 10 May 2026NOK 282.8bNOK 226.2bNOK 19.8b7.8x14.3x1.2x
Tue, 07 Apr 2026NOK 278.3bNOK 236.7bNOK 19.8b8.8x14.1x1.2x
Thu, 05 Mar 2026NOK 441.9bNOK 233.7bNOK 19.7b7.9x22.5x1.9x
Sat, 31 Jan 2026NOK 404.1bNOK 228.7bNOK 18.4b7x21.9x1.8x
Mon, 29 Dec 2025NOK 375.2bNOK 235.5bNOK 19.1b5.9x19.6x1.6x
Wed, 26 Nov 2025NOK 356.7bNOK 247.7bNOK 18.8b6.4x19x1.4x
Fri, 24 Oct 2025NOK 343.5bNOK 238.6bNOK 16.8b6.4x20.4x1.4x
Sun, 21 Sep 2025NOK 356.6bNOK 238.0bNOK 16.8b6.5x21.3x1.5x
Tue, 19 Aug 2025NOK 315.4bNOK 240.1bNOK 16.6b8.2x19x1.3x
Thu, 17 Jul 2025NOK 298.1bNOK 234.1bNOK 14.7b7.9x20.3x1.3x
Sat, 14 Jun 2025NOK 181.1bNOK 226.0bNOK 14.6b7.2x12.4x0.8x
Mon, 12 May 2025NOK 158.6bNOK 225.6bNOK 16.4b6.9x9.7x0.7x
Wed, 09 Apr 2025NOK 148.8bNOK 223.9bNOK 17.0b7.8x8.8x0.7x
Fri, 07 Mar 2025NOK 162.8bNOK 223.1bNOK 17.1b7x9.5x0.7x
Sun, 02 Feb 2025NOK 172.9bNOK 212.6bNOK 16.7b6.4x10.4x0.8x
Tue, 31 Dec 2024NOK 175.2bNOK 224.1bNOK 17.7b6.4x9.9x0.8x
Thu, 28 Nov 2024NOK 171.7bNOK 219.6bNOK 17.4b8.3x9.8x0.8x
Sat, 26 Oct 2024NOK 185.2bNOK 217.9bNOK 17.8b8.8x10.4x0.8x
Mon, 23 Sep 2024NOK 191.9bNOK 210.2bNOK 16.2b7.9x11.8x0.9x
Wed, 21 Aug 2024NOK 204.7bNOK 208.8bNOK 14.9b13.5x13.7x1x
Fri, 19 Jul 2024NOK 224.6bNOK 209.6bNOK 14.2b11.6x15.8x1.1x
Sun, 16 Jun 2024NOK 194.8bNOK 211.6bNOK 13.6b13.5x14.3x0.9x
Tue, 14 May 2024NOK 194.5bNOK 210.3bNOK 12.4b11.8x15.7x0.9x
Thu, 11 Apr 2024NOK 186.2bNOK 203.1bNOK 9.9b8.9x18.9x0.9x
Sat, 09 Mar 2024NOK 207.0bNOK 214.3bNOK 13.1b8.4x15.8x1x
Mon, 05 Feb 2024NOK 196.0bNOK 239.3bNOK 11.3b7.7x17.4x0.8x
Wed, 03 Jan 2024NOK 215.4bNOK 235.4bNOK 11.2b8.6x19.3x0.9x
Fri, 01 Dec 2023NOK 212.4bNOK 233.8bNOK 11.3b7.9x18.8x0.9x
Sun, 29 Oct 2023NOK 210.1bNOK 226.3bNOK 5.6b10x37.6x0.9x
Tue, 26 Sep 2023NOK 217.5bNOK 217.7bNOK 5.4b9.9x40.3x1x
Thu, 24 Aug 2023NOK 208.4bNOK 214.5bNOK 4.4b10.4x47x1x
Sat, 22 Jul 2023NOK 195.1bNOK 190.0b-NOK 992,462,180.0011.4x-196.6x1x
Mon, 19 Jun 2023NOK 172.0bNOK 182.9b-NOK 401,407,704.0011.2x-428.4x0.9x
Price to Earnings Ratio

-428.4x


Total Market Cap: NOK 172.0bTotal Earnings: -NOK 401,407,704.00Total Revenue: NOK 182.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average 5x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Energy Services industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 13.3x which is higher than its 3-year average PE of 5.0x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • Total earnings for the Energy Services industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 8.4% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

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

NO Market0.057%
Energy3.42%
Energy Services3.59%
Oil and Gas Services4.51%
Oil and Gas Drilling-0.33%
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 86.0x.
    • Analysts are expecting annual earnings growth of 25.3%, which is lower than the prior year's growth of 82.4% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, which is trading below its 3-year average of 13.0x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 25% over the next 5 years.
  • However this is lower than its past earnings growth rate of 82% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 8.1% 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 343.808.1%
+NOK 7.6b		81.4%PE21.8x
TGS TGSNOK 151.304.3%
+NOK 1.2b		72.4%PS2.4x
AKSO Aker SolutionsNOK 44.943.7%
+NOK 777.1m		23.4%PE7.5x
DOFG DOF GroupNOK 123.101.7%
+NOK 517.2m		32.9%PE6.9x
BWO BW OffshoreNOK 48.004.3%
+NOK 362.4m		50.5%PE9.5x

Latest News

AKSO
NOK 44.94
Aker Solutions
7D
3.7%
1Y
23.4%
TGS
NOK 151.30
TGS
7D
4.3%
1Y
72.4%
REACH
NOK 5.24
Reach Subsea
7D
-4.0%
1Y
-34.2%
DOFG
NOK 123.10
DOF Group
7D
1.7%
1Y
32.9%
Narrative Update • Jun 06

DOFG: Backlog And New Long Term Charters Will Support Upside Potential

Analysts have nudged their price target for DOF Group higher to around NOK146 per share, from roughly NOK142. This reflects updated assumptions for revenue growth, profit margins and a slightly lower future P/E multiple despite a higher discount rate.
VTURA
NOK 30.20
Ventura Offshore Holding
7D
-2.9%
1Y
69.2%
SUBC
NOK 343.80
Subsea 7
7D
8.1%
1Y
81.4%
ODL
NOK 89.70
Odfjell Drilling
7D
1.7%
1Y
31.7%
Narrative Update • Jun 04

ODL: Higher Margin Outlook And Dividend Support Will Underpin Future Earnings Multiple

Analysts have trimmed their average Odfjell Drilling price target slightly to around NOK115, reflecting modest tweaks to discount rate, margin and P/E assumptions after recent downgrades. Analyst Commentary Recent Street research has tilted more cautious on Odfjell Drilling, with downgrades reflecting reassessments of risk, earnings visibility and valuation multiples.
PRS
NOK 4.80
Prosafe
7D
6.7%
1Y
-33.4%
ARCH
NOK 24.00
Archer
7D
-4.0%
1Y
2.8%
Narrative Update • Jun 02

ARCH: Long-Term Contract Extensions And Acquisitions Will Support Future Returns

Archer's analyst price target has been adjusted slightly, with fair value now set around NOK 38.94. Analysts have factored in updated assumptions on revenue growth, profit margins, the discount rate, and future P/E levels.
NOL
NOK 7.78
Northern Ocean
7D
1.3%
1Y
33.7%
ENH
NOK 8.08
SED Energy Holdings
7D
-1.5%
1Y
16.4%
COSH
NOK 142.00
Constellation Oil Services Holding
7D
-2.1%
1Y
75.7%
BWO
NOK 48.00
BW Offshore
7D
4.3%
1Y
50.5%
Analysis Article • May 25

BW Offshore's (OB:BWO) Conservative Accounting Might Explain Soft Earnings

The most recent earnings report from BW Offshore Limited ( OB:BWO ) was disappointing for shareholders. Despite the...
AKAST
NOK 13.28
Akastor
7D
-2.5%
1Y
5.9%
Analysis Article • May 21

Akastor's (OB:AKAST) Sluggish Earnings Might Be Just The Beginning Of Its Problems

The subdued market reaction suggests that Akastor ASA's ( OB:AKAST ) recent earnings didn't contain any surprises. Our...
SOMA
NOK 26.75
Solstad Maritime
7D
-1.3%
1Y
13.8%
DDRIL
NOK 2.50
Dolphin Drilling
7D
-8.4%
1Y
-90.7%