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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedAug 24, 2026
DataAggregated Company Financials
Companies30
  • 7D-1.3%
  • 3M2.9%
  • 1Y38.4%
  • YTD37.2%

Over the last 7 days, the Energy Services industry has dropped 1.3%, driven by a pullback from Subsea 7 of 2.8%. Over the past 12 months, the industry was up 38%. As for the next few years, earnings are expected to grow by 5.7% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 24 Aug 2026NOK 288.4bNOK 233.6bNOK 24.0b7.8x12x1.2x
Wed, 22 Jul 2026NOK 275.2bNOK 234.2bNOK 22.4b6.8x12.3x1.2x
Fri, 19 Jun 2026NOK 271.5bNOK 237.4bNOK 22.1b6.5x12.3x1.1x
Sun, 17 May 2026NOK 298.7bNOK 228.9bNOK 20.5b7.4x14.6x1.3x
Tue, 14 Apr 2026NOK 287.5bNOK 231.0bNOK 19.2b9.1x15x1.2x
Thu, 12 Mar 2026NOK 448.7bNOK 234.2bNOK 20.1b8.3x22.3x1.9x
Sat, 07 Feb 2026NOK 406.7bNOK 229.9bNOK 18.5b7.2x21.9x1.8x
Mon, 05 Jan 2026NOK 379.9bNOK 236.4bNOK 19.2b6x19.8x1.6x
Wed, 03 Dec 2025NOK 357.5bNOK 246.7bNOK 19.3b6.1x18.5x1.4x
Fri, 31 Oct 2025NOK 348.5bNOK 239.8bNOK 17.2b6.2x20.3x1.5x
Sun, 28 Sep 2025NOK 362.4bNOK 238.5bNOK 16.8b6.7x21.6x1.5x
Tue, 26 Aug 2025NOK 333.7bNOK 241.1bNOK 18.1b6.9x18.5x1.4x
Thu, 24 Jul 2025NOK 292.7bNOK 232.9bNOK 13.5b8x21.6x1.3x
Sat, 21 Jun 2025NOK 181.3bNOK 229.6bNOK 14.8b7.1x12.2x0.8x
Mon, 19 May 2025NOK 166.5bNOK 233.7bNOK 16.9b6.7x9.9x0.7x
Wed, 16 Apr 2025NOK 149.3bNOK 219.5bNOK 16.7b7.8x9x0.7x
Fri, 14 Mar 2025NOK 162.8bNOK 220.0bNOK 16.7b7.8x9.7x0.7x
Sun, 09 Feb 2025NOK 170.8bNOK 211.6bNOK 16.6b6.5x10.3x0.8x
Tue, 07 Jan 2025NOK 175.1bNOK 212.0bNOK 16.6b6.7x10.5x0.8x
Thu, 05 Dec 2024NOK 176.5bNOK 219.3bNOK 17.2b8.2x10.2x0.8x
Sat, 02 Nov 2024NOK 180.9bNOK 218.9bNOK 18.2b9x9.9x0.8x
Mon, 30 Sep 2024NOK 181.4bNOK 210.5bNOK 16.2b8.1x11.2x0.9x
Wed, 28 Aug 2024NOK 208.4bNOK 209.3bNOK 15.5b14.3x13.5x1x
Fri, 26 Jul 2024NOK 225.1bNOK 212.7bNOK 14.6b11x15.5x1.1x
Sun, 23 Jun 2024NOK 197.9bNOK 210.2bNOK 13.5b13.8x14.7x0.9x
Tue, 21 May 2024NOK 192.9bNOK 209.8bNOK 11.9b13.3x16.2x0.9x
Thu, 18 Apr 2024NOK 186.7bNOK 205.3bNOK 9.9b9.5x18.8x0.9x
Sat, 16 Mar 2024NOK 216.9bNOK 216.6bNOK 12.9b9x16.8x1x
Mon, 12 Feb 2024NOK 192.3bNOK 208.4bNOK 9.6b8.7x20.1x0.9x
Wed, 10 Jan 2024NOK 205.4bNOK 235.7bNOK 11.2b8.2x18.4x0.9x
Fri, 08 Dec 2023NOK 196.6bNOK 242.8bNOK 11.4b7.6x17.2x0.8x
Sun, 05 Nov 2023NOK 216.6bNOK 229.8bNOK 7.8b8.3x27.8x0.9x
Tue, 03 Oct 2023NOK 221.2bNOK 219.1bNOK 5.4b10.5x40.7x1x
Thu, 31 Aug 2023NOK 212.4bNOK 214.2bNOK 4.5b9.1x47.1x1x
Price to Earnings Ratio

47.1x


Total Market Cap: NOK 212.4bTotal Earnings: NOK 4.5bTotal Revenue: NOK 214.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Services Industry Price to Earnings3Y Average 17.1x202420252026
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 17.1x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.2x.
Past Earnings Growth
  • The earnings for companies in the Energy Services industry have grown 75% per year over the last three years.
  • Revenues for these companies have grown 2.9% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NO Market0.24%
Energy2.18%
Energy Services-1.27%
Oil and Gas Drilling1.97%
Oil and Gas Services-1.99%
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 89.5x.
    • Analysts are expecting annual earnings growth of 23.3%, which is lower than the prior year's growth of 59.8% per year.
  • Investors are most pessimistic about the Oil and Gas Services industry, which is trading below its 3-year average of 11.9x.
Forecasted Growth
  • Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 23% over the next 5 years.
  • However this is lower than its past earnings growth rate of 60% per year.
  • In contrast, the Oil and Gas Services industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

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

CompanyLast Price7D1YValuation
ODL Odfjell DrillingNOK 95.303.6%
+NOK 791.4m		19.1%PE10.9x
PLSV Paratus Energy ServicesNOK 51.804.6%
+NOK 374.3m		25.0%PE8.4x
REACH Reach SubseaNOK 5.907.7%
+NOK 137.3m		-28.2%PS0.7x
ENH SED Energy HoldingsNOK 8.072.0%
+NOK 117.0m		-16.8%PE14.4x
AKSO Aker SolutionsNOK 43.520.6%
+NOK 116.7m		41.3%PE6.5x

Latest News

OTL
NOK 61.40
Odfjell Technology
7D
2.2%
1Y
3.9%
Analysis Article • Aug 23

Odfjell Technology Ltd. Just Missed EPS By 19%: Here's What Analysts Think Will Happen Next

The analysts might have been a bit too bullish on Odfjell Technology Ltd. ( OB:OTL ), given that the company fell short...
AKAST
NOK 13.74
Akastor
7D
-4.2%
1Y
16.6%
TGS
NOK 138.90
TGS
7D
-2.9%
1Y
75.4%
DOFG
NOK 133.00
DOF Group
7D
-2.2%
1Y
31.7%
ODL
NOK 95.30
Odfjell Drilling
7D
3.6%
1Y
19.1%
Narrative Update • Aug 21

ODL: Extended Contract Backlog Will Support Future Share Price Upside

The analyst price target for Odfjell Drilling has been reduced from about NOK 116 to about NOK 111, as analysts factor in updated revenue expectations, a higher discount rate and recent mixed rating actions that include downgrades to Hold with targets around NOK 106 to NOK 121 and an upgrade to Buy at NOK 110. Analyst Commentary Recent Street research on Odfjell Drilling shows a mix of upgrades and downgrades that give a balanced view of how analysts are thinking about the stock today.
REACH
NOK 5.90
Reach Subsea
7D
7.7%
1Y
-28.2%
COSH
NOK 137.00
Constellation Oil Services Holding
7D
-0.7%
1Y
57.5%
NORAM
NOK 47.70
NorAm Drilling
7D
5.2%
1Y
77.3%
PLSV
NOK 51.80
Paratus Energy Services
7D
4.6%
1Y
25.0%
SUBC
NOK 338.00
Subsea 7
7D
-2.8%
1Y
63.1%
Narrative Update • Aug 11

SUBC: Saipem Merger Progress And Backlog Strength Will Support Higher Earnings Multiple

The updated analyst price target for Subsea 7 reflects a move higher from NOK 438.35 to NOK 457.16, broadly in line with a series of recent target increases and ratings upgrades from analysts who cite adjustments to fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Analyst Commentary Recent Street research on Subsea 7 points to a cluster of higher price targets and rating upgrades in 2026.
SOFF
NOK 69.30
Solstad Offshore
7D
-1.6%
1Y
29.1%
Narrative Update • Jul 27

SOFF: Long-Term Vessel Contracts And Dividends Will Support Upside Potential

Solstad Offshore's analyst fair value estimate has been revised from NOK 71 to NOK 79.50, with analysts pointing to updated assumptions around discount rates, revenue growth, margins and future P/E as key drivers behind the new price target. What's in the News for Solstad Offshore The board has approved a cash dividend of US$0.15 per share for the second quarter of 2026, totaling about US$12.4 million.
PSE
NOK 6.70
Petrolia
7D
8.9%
1Y
37.3%
AKSO
NOK 43.52
Aker Solutions
7D
0.6%
1Y
41.3%
SOMA
NOK 28.80
Solstad Maritime
7D
-2.2%
1Y
12.3%
PRS
NOK 5.55
Prosafe
7D
-5.6%
1Y
25.9%
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.
ENH
NOK 8.07
SED Energy Holdings
7D
2.0%
1Y
-16.8%