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Norwegian (OSEAX) Energy Services Industry Analysis

UpdatedAug 25, 2026
DataAggregated Company Financials
Companies30
  • 7D-2.4%
  • 3M1.9%
  • 1Y36.8%
  • YTD35.6%

Over the last 7 days, the Energy Services industry has dropped 1.3%, driven by a pullback from Subsea 7 of 2.3%. 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
Tue, 25 Aug 2026NOK 285.0bNOK 233.7bNOK 24.0b7.7x11.9x1.2x
Thu, 23 Jul 2026NOK 282.1bNOK 233.5bNOK 22.4b6.9x12.6x1.2x
Sat, 20 Jun 2026NOK 279.1bNOK 236.6bNOK 22.0b6.6x12.7x1.2x
Mon, 18 May 2026NOK 298.7bNOK 228.9bNOK 20.5b7.4x14.6x1.3x
Wed, 15 Apr 2026NOK 286.6bNOK 230.9bNOK 19.2b9x14.9x1.2x
Fri, 13 Mar 2026NOK 444.4bNOK 235.2bNOK 20.2b8.2x22x1.9x
Sun, 08 Feb 2026NOK 406.7bNOK 231.9bNOK 18.6b7.2x21.9x1.8x
Tue, 06 Jan 2026NOK 367.4bNOK 235.9bNOK 19.1b6x19.2x1.6x
Thu, 04 Dec 2025NOK 360.6bNOK 245.1bNOK 19.2b6.2x18.8x1.5x
Sat, 01 Nov 2025NOK 351.7bNOK 240.9bNOK 17.3b6.1x20.4x1.5x
Mon, 29 Sep 2025NOK 362.4bNOK 238.5bNOK 16.8b6.7x21.6x1.5x
Wed, 27 Aug 2025NOK 341.0bNOK 240.7bNOK 17.8b6.8x19.2x1.4x
Fri, 25 Jul 2025NOK 302.7bNOK 233.2bNOK 13.5b8.1x22.3x1.3x
Sun, 22 Jun 2025NOK 181.3bNOK 229.6bNOK 14.8b7.1x12.2x0.8x
Tue, 20 May 2025NOK 164.8bNOK 232.2bNOK 16.8b6.7x9.8x0.7x
Thu, 17 Apr 2025NOK 148.8bNOK 219.2bNOK 16.6b7.8x8.9x0.7x
Sat, 15 Mar 2025NOK 164.1bNOK 219.3bNOK 16.7b7.9x9.8x0.7x
Mon, 10 Feb 2025NOK 170.8bNOK 211.6bNOK 16.6b6.5x10.3x0.8x
Wed, 08 Jan 2025NOK 174.6bNOK 212.8bNOK 16.7b6.6x10.5x0.8x
Fri, 06 Dec 2024NOK 175.6bNOK 219.6bNOK 17.3b7.9x10.2x0.8x
Sun, 03 Nov 2024NOK 180.9bNOK 218.2bNOK 18.0b11.2x10x0.8x
Tue, 01 Oct 2024NOK 183.3bNOK 211.1bNOK 16.3b8.6x11.2x0.9x
Thu, 29 Aug 2024NOK 201.5bNOK 209.8bNOK 15.1b14x13.3x1x
Sat, 27 Jul 2024NOK 224.7bNOK 214.9bNOK 15.0b11.2x15x1x
Mon, 24 Jun 2024NOK 197.9bNOK 210.2bNOK 13.5b13.8x14.7x0.9x
Wed, 22 May 2024NOK 193.8bNOK 209.9bNOK 12.1b13.7x16.1x0.9x
Fri, 19 Apr 2024NOK 186.5bNOK 206.0bNOK 9.9b9.3x18.8x0.9x
Sun, 17 Mar 2024NOK 216.9bNOK 216.6bNOK 12.9b9x16.8x1x
Tue, 13 Feb 2024NOK 196.3bNOK 207.5bNOK 9.5b9.1x20.6x0.9x
Thu, 11 Jan 2024NOK 203.7bNOK 235.8bNOK 11.2b8.2x18.2x0.9x
Sat, 09 Dec 2023NOK 199.1bNOK 243.3bNOK 11.4b7.9x17.4x0.8x
Mon, 06 Nov 2023NOK 216.6bNOK 229.8bNOK 7.8b8.3x27.8x0.9x
Wed, 04 Oct 2023NOK 218.3bNOK 219.5bNOK 5.4b10.3x40.1x1x
Fri, 01 Sep 2023NOK 212.3bNOK 215.8bNOK 5.1b9.2x41.5x1x
Price to Earnings Ratio

41.5x


Total Market Cap: NOK 212.3bTotal Earnings: NOK 5.1bTotal Revenue: NOK 215.8bTotal 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 67% per year over the last three years.
  • Revenues for these companies have grown 2.7% 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 Market-0.081%
Energy1.07%
Energy Services-2.41%
Oil and Gas Drilling0.66%
Oil and Gas Services-3.10%
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 89.6x.
    • 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
PLSV Paratus Energy ServicesNOK 51.303.6%
+NOK 292.9m		23.8%PE8.3x
ODL Odfjell DrillingNOK 92.901.0%
+NOK 215.8m		16.1%PE10.7x
REACH Reach SubseaNOK 6.019.7%
+NOK 173.3m		-26.9%PS0.7x
NORAM NorAm DrillingNOK 47.504.7%
+NOK 93.1m		76.6%PE18.1x
COSH Constellation Oil Services HoldingNOK 139.000.7%
+NOK 84.4m		59.8%PS1.9x

Latest News

BWO
NOK 39.15
BW Offshore
7D
-14.0%
1Y
4.8%
TGS
NOK 134.20
TGS
7D
-6.2%
1Y
69.4%
AQUA
NOK 9.04
Aqualis
7D
2.7%
1Y
-1.3%
DOFG
NOK 131.50
DOF Group
7D
-3.3%
1Y
30.2%
ODL
NOK 92.90
Odfjell Drilling
7D
1.0%
1Y
16.1%
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 6.01
Reach Subsea
7D
9.7%
1Y
-26.9%
SEA1
NOK 27.80
Sea1 Offshore
7D
-3.6%
1Y
7.8%
Analysis Article • Aug 19

Sea1 Offshore Inc. Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Predictions

Sea1 Offshore Inc. ( OB:SEA1 ) just released its second-quarter report and things are looking bullish. Sea1 Offshore...
COSH
NOK 139.00
Constellation Oil Services Holding
7D
0.7%
1Y
59.8%
NORAM
NOK 47.50
NorAm Drilling
7D
4.7%
1Y
76.6%
PLSV
NOK 51.30
Paratus Energy Services
7D
3.6%
1Y
23.8%
SUBC
NOK 339.80
Subsea 7
7D
-2.3%
1Y
64.0%
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.
PSE
NOK 6.60
Petrolia
7D
7.3%
1Y
35.2%
AKSO
NOK 42.68
Aker Solutions
7D
-1.4%
1Y
38.6%
SOMA
NOK 28.35
Solstad Maritime
7D
-3.7%
1Y
10.5%
PRS
NOK 5.36
Prosafe
7D
-8.8%
1Y
21.5%
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.