Results: TGS ASA Exceeded Expectations And The Consensus Has Updated Its Estimates
Jul 23
Norwegian (OSEAX) Energy Services Industry Analysis
UpdatedJul 23, 2024
DataAggregated Company Financials
Companies34
- 7D4.3%
- 3M17.9%
- 1Y28.7%
- YTD21.4%
The Energy Services industry is up 4.3% in the last week, with Subsea 7 up 5.7%. In the same time, Shelf Drilling (North Sea) was down 9.4%. This takes the industry's 12 month performance to a gain of 29%. Earnings are forecast to grow by 29% annually.
Industry Valuation and Performance
Has the Norwegian Energy Services Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 23 Jul 2024 | NOK 226.2b | NOK 211.7b | NOK 14.5b | 10.7x | 15.6x | 1.1x |
| Thu, 20 Jun 2024 | NOK 196.6b | NOK 210.0b | NOK 13.5b | 13.8x | 14.6x | 0.9x |
| Sat, 18 May 2024 | NOK 192.5b | NOK 210.1b | NOK 12.0b | 12.1x | 16.1x | 0.9x |
| Mon, 15 Apr 2024 | NOK 191.0b | NOK 204.1b | NOK 9.9b | 9.9x | 19.3x | 0.9x |
| Wed, 13 Mar 2024 | NOK 208.4b | NOK 215.1b | NOK 12.9b | 9.3x | 16.2x | 1x |
| Fri, 09 Feb 2024 | NOK 192.9b | NOK 209.4b | NOK 9.6b | 8.9x | 20.1x | 0.9x |
| Sun, 07 Jan 2024 | NOK 215.7b | NOK 235.2b | NOK 11.1b | 8.5x | 19.4x | 0.9x |
| Tue, 05 Dec 2023 | NOK 204.8b | NOK 242.4b | NOK 11.4b | 7.9x | 18x | 0.8x |
| Thu, 02 Nov 2023 | NOK 215.7b | NOK 231.6b | NOK 6.2b | 9.5x | 34.7x | 0.9x |
| Sat, 30 Sep 2023 | NOK 221.2b | NOK 217.0b | NOK 5.4b | 10.9x | 40.7x | 1x |
| Mon, 28 Aug 2023 | NOK 209.2b | NOK 215.6b | NOK 4.2b | 10.3x | 49.4x | 1x |
| Wed, 26 Jul 2023 | NOK 197.7b | NOK 189.8b | -NOK 988,589,422.00 | 11.9x | -200x | 1x |
| Fri, 23 Jun 2023 | NOK 170.8b | NOK 183.7b | -NOK 414,328,492.00 | 10.8x | -412.1x | 0.9x |
| Sun, 21 May 2023 | NOK 181.1b | NOK 185.5b | NOK 38.3b | 9.5x | 4.7x | 1x |
| Tue, 18 Apr 2023 | NOK 185.3b | NOK 175.5b | -NOK 1,311,559,594.00 | 15.2x | -141.3x | 1.1x |
| Thu, 16 Mar 2023 | NOK 173.0b | NOK 179.2b | NOK 38.8b | 13.3x | 4.5x | 1x |
| Sat, 11 Feb 2023 | NOK 177.7b | NOK 168.2b | NOK 47.1b | 7.8x | 3.8x | 1.1x |
| Mon, 09 Jan 2023 | NOK 140.7b | NOK 160.7b | NOK 44.2b | 7.2x | 3.2x | 0.9x |
| Wed, 07 Dec 2022 | NOK 137.7b | NOK 160.1b | NOK 43.6b | 6.8x | 3.2x | 0.9x |
| Fri, 04 Nov 2022 | NOK 147.6b | NOK 170.2b | NOK 34.1b | 10.2x | 4.3x | 0.9x |
| Sun, 02 Oct 2022 | NOK 117.3b | NOK 173.0b | NOK 34.8b | 9.3x | 3.4x | 0.7x |
| Tue, 30 Aug 2022 | NOK 127.5b | NOK 158.9b | NOK 29.2b | 9.3x | 4.4x | 0.8x |
| Thu, 28 Jul 2022 | NOK 109.0b | NOK 162.6b | NOK 30.1b | 9.4x | 3.6x | 0.7x |
| Sat, 25 Jun 2022 | NOK 110.9b | NOK 157.0b | NOK 29.1b | 9.6x | 3.8x | 0.7x |
| Mon, 23 May 2022 | NOK 124.5b | NOK 155.1b | -NOK 10,500,798,132.00 | 10.1x | -11.9x | 0.8x |
| Wed, 20 Apr 2022 | NOK 97.6b | NOK 128.8b | -NOK 4,599,359,255.00 | 9.9x | -21.2x | 0.8x |
| Fri, 18 Mar 2022 | NOK 89.7b | NOK 130.3b | -NOK 4,728,242,636.00 | 9.5x | -19x | 0.7x |
| Sun, 13 Feb 2022 | NOK 79.2b | NOK 127.5b | NOK 4.4b | 6.3x | 18.1x | 0.6x |
| Tue, 11 Jan 2022 | NOK 76.9b | NOK 130.8b | NOK 4.4b | 5x | 17.3x | 0.6x |
| Thu, 09 Dec 2021 | NOK 71.4b | NOK 131.0b | NOK 4.4b | 5.1x | 16.1x | 0.5x |
| Sat, 06 Nov 2021 | NOK 79.8b | NOK 123.0b | NOK 3.0b | 6x | 26.7x | 0.6x |
| Mon, 04 Oct 2021 | NOK 75.3b | NOK 119.4b | NOK 2.4b | 4.6x | 31x | 0.6x |
| Wed, 01 Sep 2021 | NOK 68.5b | NOK 120.8b | NOK 2.1b | 3.7x | 32.3x | 0.6x |
Price to Earnings Ratio
32.7x
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 15.6x which is lower than its 3-year average PE of 544x.
- The 3-year average PS ratio of 20.1x is higher than the industry's current PS ratio of 1.1x.
Past Earnings Growth
- The earnings for companies in the Energy Services industry have grown 90% per year over the last three years.
- Revenues for these companies have grown 21% 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 | 1.34% | |
| Energy | 0.86% | |
| Energy Services | 4.31% | |
| Oil and Gas Services | 5.88% | |
| Oil and Gas Drilling | 0.45% | |
Industry PE
- Investors are most optimistic about the Oil and Gas Drilling industry which is trading above its 3-year average PE ratio.
- Analysts are expecting annual earnings growth of 41.8%, which is lower than the prior year's growth of 187.3% per year.
- Investors are most pessimistic about the Oil and Gas Services industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
- Analysts are most optimistic on the Oil and Gas Drilling industry, expecting annual earnings growth of 42% over the next 5 years.
- However this is lower than its past earnings growth rate of 187% per year.
- In contrast, the Oil and Gas Services industry is expected to see its earnings grow by 24% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SUBC Subsea 7 | NOK 211.00 | 5.8% +NOK 3.4b | 52.2% | PE91.6x | |
| TGS TGS | NOK 138.80 | 10.3% +NOK 2.5b | 0.4% | PE93.6x | |
| AKSO Aker Solutions | NOK 54.60 | 6.5% +NOK 1.6b | 16.4% | PE17.6x | |
| DOFG DOF Group | NOK 104.50 | 4.0% +NOK 706.6m | 158.1% | PE4.3x | |
| VTURA Ventura Offshore Holding | NOK 31.30 | -2.6% NOK 485.9m | n/a | n/a |
