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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedJul 18, 2026
DataAggregated Company Financials
Companies30
  • 7D-2.5%
  • 3M-0.2%
  • 1Y32.0%
  • YTD28.2%

Over the last 7 days, the Energy Services industry has dropped 2.5%, driven by Subsea 7 declining 4.1%. Over the past 12 months, the industry was up 32%. 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
Sat, 18 Jul 2026NOK 269.4bNOK 234.3bNOK 22.4b6.7x12x1.2x
Mon, 15 Jun 2026NOK 286.3bNOK 233.5bNOK 21.7b7.1x13.2x1.2x
Wed, 13 May 2026NOK 289.8bNOK 225.8bNOK 19.6b7.6x14.8x1.3x
Fri, 10 Apr 2026NOK 286.0bNOK 231.7bNOK 19.3b9x14.8x1.2x
Sun, 08 Mar 2026NOK 439.0bNOK 233.4bNOK 20.0b8x21.9x1.9x
Tue, 03 Feb 2026NOK 403.1bNOK 230.4bNOK 18.6b7x21.7x1.7x
Thu, 01 Jan 2026NOK 377.4bNOK 236.6bNOK 19.2b6x19.7x1.6x
Sat, 29 Nov 2025NOK 363.8bNOK 245.4bNOK 19.2b6.2x19x1.5x
Mon, 27 Oct 2025NOK 345.1bNOK 238.9bNOK 17.1b6.3x20.2x1.4x
Wed, 24 Sep 2025NOK 355.0bNOK 237.0bNOK 16.7b6.6x21.3x1.5x
Fri, 22 Aug 2025NOK 328.1bNOK 241.8bNOK 18.1b6.5x18.1x1.4x
Sun, 20 Jul 2025NOK 298.4bNOK 234.2bNOK 13.6b8x21.9x1.3x
Tue, 17 Jun 2025NOK 180.1bNOK 226.2bNOK 14.6b7.2x12.3x0.8x
Thu, 15 May 2025NOK 164.9bNOK 232.1bNOK 16.1b6.7x10.2x0.7x
Sat, 12 Apr 2025NOK 144.3bNOK 219.6bNOK 16.7b7.9x8.7x0.7x
Mon, 10 Mar 2025NOK 164.4bNOK 222.9bNOK 17.1b7.1x9.6x0.7x
Wed, 05 Feb 2025NOK 170.9bNOK 211.5bNOK 16.6b6.4x10.3x0.8x
Fri, 03 Jan 2025NOK 182.7bNOK 224.3bNOK 17.7b6.7x10.3x0.8x
Sun, 01 Dec 2024NOK 173.7bNOK 219.3bNOK 17.2b8.4x10.1x0.8x
Tue, 29 Oct 2024NOK 180.9bNOK 218.6bNOK 17.9b8.8x10.1x0.8x
Thu, 26 Sep 2024NOK 187.4bNOK 211.6bNOK 16.3b8.3x11.5x0.9x
Sat, 24 Aug 2024NOK 208.3bNOK 208.7bNOK 15.6b14x13.3x1x
Mon, 22 Jul 2024NOK 224.8bNOK 211.1bNOK 14.4b11.3x15.6x1.1x
Wed, 19 Jun 2024NOK 197.5bNOK 210.2bNOK 13.5b13.7x14.6x0.9x
Fri, 17 May 2024NOK 193.4bNOK 209.3bNOK 12.4b12.8x15.6x0.9x
Sun, 14 Apr 2024NOK 191.0bNOK 204.1bNOK 9.9b9.9x19.3x0.9x
Tue, 12 Mar 2024NOK 207.7bNOK 214.4bNOK 12.8b9.4x16.2x1x
Thu, 08 Feb 2024NOK 191.8bNOK 225.0bNOK 11.7b8.8x16.4x0.9x
Sat, 06 Jan 2024NOK 215.7bNOK 234.9bNOK 11.1b8.6x19.4x0.9x
Mon, 04 Dec 2023NOK 211.1bNOK 240.0bNOK 11.3b8.2x18.7x0.9x
Wed, 01 Nov 2023NOK 213.7bNOK 230.9bNOK 6.2b9.9x34.4x0.9x
Fri, 29 Sep 2023NOK 224.2bNOK 217.6bNOK 5.4b10.9x41.3x1x
Sun, 27 Aug 2023NOK 209.2bNOK 215.6bNOK 4.2b10.3x49.4x1x
Tue, 25 Jul 2023NOK 196.6bNOK 189.6b-NOK 985,246,722.0011.5x-199.5x1x
Price to Earnings Ratio

-199.5x


Total Market Cap: NOK 196.6bTotal Earnings: -NOK 985,246,722.00Total Revenue: NOK 189.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average 15x202420252026
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 12.0x which is lower than its 3-year average PE of 15.0x.
  • The industry is trading close to its 3-year average PS ratio of 1.1x.
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 7.3% 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 Market1.49%
Energy5.38%
Energy Services-2.46%
Oil and Gas Drilling0.31%
Oil and Gas Services-3.07%
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 87.6x.
    • Analysts are expecting annual earnings growth of 23.8%, 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 12.6x.
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 82% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 7.5% 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 133.802.3%
+NOK 589.5m		76.2%PS2.1x
ODL Odfjell DrillingNOK 85.401.1%
+NOK 215.8m		19.9%PE10.1x
PRS ProsafeNOK 4.503.4%
+NOK 52.9m		-30.8%PE1.1x
NORAM NorAm DrillingNOK 41.852.8%
+NOK 49.8m		76.2%PE15.4x
EIOF Eidesvik OffshoreNOK 15.804.3%
+NOK 47.4m		24.9%PE19.2x

Latest News

AKSO
NOK 41.00
Aker Solutions
7D
-10.2%
1Y
34.1%
TGS
NOK 133.80
TGS
7D
2.3%
1Y
76.2%
Narrative Update • Jul 17

TGS: Frontier Seismic Projects And Exploration Upswing Will Drive Future Upside

Analysts have trimmed their fair value estimate for TGS to about NOK 200 from roughly NOK 213, reflecting a lower P/E multiple, even as updated assumptions point to slightly firmer revenue growth and profit margins. Analyst Commentary Recent research on TGS reflects a mix of caution and optimism, with some analysts trimming near term expectations while others highlight potential upside as industry spending patterns evolve.
SOMA
NOK 26.25
Solstad Maritime
7D
-2.8%
1Y
10.5%
SOFF
NOK 63.80
Solstad Offshore
7D
-4.2%
1Y
26.3%
SUBC
NOK 319.00
Subsea 7
7D
-4.1%
1Y
60.6%
Narrative Update • Jul 14

SUBC: Elevated P E Multiples Will Strain Returns As Execution Risks Intensify

The analyst price target for Subsea 7 has been raised from NOK 233.20 to NOK 245.88. Analysts point to updated assumptions for revenue growth, profit margins and a lower future P/E multiple, alongside recent Street targets clustered around NOK 370, as the key drivers of the change.
NORAM
NOK 41.85
NorAm Drilling
7D
2.8%
1Y
76.2%
EIOF
NOK 15.80
Eidesvik Offshore
7D
4.3%
1Y
24.9%
ODL
NOK 85.40
Odfjell Drilling
7D
1.1%
1Y
19.9%
Narrative Update • Jul 02

ODL: Dividend Strength Will Support Returns Despite More Cautious Market Outlook

The analyst price target for Odfjell Drilling has been revised lower from about NOK 113.91 to around NOK 102.21, as analysts apply a higher discount rate and more cautious revenue growth and future P/E assumptions following the recent bearish Street research. What’s in the News for Odfjell Drilling Odfjell Drilling’s Board has approved a cash dividend of $0.25 per share, totaling $60 million, for the first quarter of 2026.
AKAST
NOK 12.60
Akastor
7D
-2.6%
1Y
5.9%
PRS
NOK 4.50
Prosafe
7D
3.4%
1Y
-30.8%
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.
DOFG
NOK 121.10
DOF Group
7D
-1.2%
1Y
34.6%
Narrative Update • Jun 25

DOFG: Long-Term Brazil Contracts And Dividend Will Support Future Upside

Analysts now see DOF Group as fairly valued at NOK 145.80, refining their price target without a material change in underlying fair value as they factor in a slightly higher discount rate and a modestly lower future P/E assumption. What's in the News for DOF Group The board of directors approved a dividend of US$0.37 per share for DOF Group ASA on 21 May 2026, with last day including right on 27 May 2026, ex-date on 28 May 2026, record date on 29 May 2026, and payment date on 4 June 2026.
SDSD
NOK 1.86
S.D. Standard ETC
7D
2.8%
1Y
1.9%
BWO
NOK 44.15
BW Offshore
7D
-3.0%
1Y
30.0%
PLSV
NOK 45.25
Paratus Energy Services
7D
0.6%
1Y
27.4%
Analysis Article • Jun 06

Solid Earnings May Not Tell The Whole Story For Paratus Energy Services (OB:PLSV)

The recent earnings posted by Paratus Energy Services Ltd. ( OB:PLSV ) were solid, but the stock didn't move as much as...
PSE
NOK 6.10
Petrolia
7D
3.4%
1Y
58.4%
COSH
NOK 132.00
Constellation Oil Services Holding
7D
-0.8%
1Y
64.9%