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Norwegian (OSEAX) Energy Sector Analysis

UpdatedAug 22, 2025
DataAggregated Company Financials
Companies55
  • 7D2.4%
  • 3M8.8%
  • 1Y-7.9%
  • YTD-4.8%

Over the last 7 days, the Energy industry has risen 2.4%, driven by gains in Aker BP and Constellation Oil Services Holding of 4.6% and 5.6%, respectively. In the past year, the industry is down 7.9%. Earnings are forecast to grow by 13% annually.

Sector Valuation and Performance

Has the Norwegian Energy Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 22 Aug 2025NOK 1.3tNOK 1.6tNOK 130.7b7.4x10x0.8x
Sun, 20 Jul 2025NOK 1.3tNOK 1.6tNOK 132.2b7.3x9.8x0.8x
Tue, 17 Jun 2025NOK 1.3tNOK 1.6tNOK 138.7b7.2x9.2x0.8x
Thu, 15 May 2025NOK 1.2tNOK 1.7tNOK 149.6b5.5x7.7x0.7x
Sat, 12 Apr 2025NOK 1.1tNOK 1.6tNOK 152.8b5.6x7.2x0.7x
Mon, 10 Mar 2025NOK 1.2tNOK 1.7tNOK 155.8b5.8x7.5x0.7x
Wed, 05 Feb 2025NOK 1.3tNOK 1.7tNOK 169.4b6.2x7.5x0.7x
Fri, 03 Jan 2025NOK 1.3tNOK 1.8tNOK 171.1b6x7.6x0.7x
Sun, 01 Dec 2024NOK 1.3tNOK 1.7tNOK 165.8b6.5x7.6x0.7x
Tue, 29 Oct 2024NOK 1.3tNOK 1.7tNOK 163.5b5.9x7.7x0.7x
Thu, 26 Sep 2024NOK 1.2tNOK 1.6tNOK 159.5b6.5x7.8x0.8x
Sat, 24 Aug 2024NOK 1.4tNOK 1.6tNOK 156.0b6.9x8.7x0.8x
Mon, 22 Jul 2024NOK 1.4tNOK 1.6tNOK 158.7b7x8.9x0.9x
Wed, 19 Jun 2024NOK 1.4tNOK 1.6tNOK 156.7b8.4x9.2x0.9x
Fri, 17 May 2024NOK 1.5tNOK 1.6tNOK 157.9b9.3x9.3x0.9x
Sun, 14 Apr 2024NOK 1.5tNOK 1.7tNOK 180.4b8.4x8.5x0.9x
Tue, 12 Mar 2024NOK 1.4tNOK 1.7tNOK 177.1b7.5x7.7x0.8x
Thu, 08 Feb 2024NOK 1.4tNOK 1.7tNOK 239.1b6.6x5.8x0.8x
Sat, 06 Jan 2024NOK 1.6tNOK 1.7tNOK 233.7b7.2x6.9x0.9x
Mon, 04 Dec 2023NOK 1.6tNOK 1.8tNOK 242.2b6.3x6.8x0.9x
Wed, 01 Nov 2023NOK 1.8tNOK 1.8tNOK 250.6b7.9x7.1x1x
Fri, 29 Sep 2023NOK 1.7tNOK 2.0tNOK 312.9b7.4x5.3x0.9x
Sun, 27 Aug 2023NOK 1.5tNOK 2.0tNOK 309.0b7.5x5x0.8x
Tue, 25 Jul 2023NOK 1.5tNOK 2.0tNOK 335.5b8.3x4.5x0.8x
Thu, 22 Jun 2023NOK 1.5tNOK 2.1tNOK 356.2b8.2x4.3x0.7x
Sat, 20 May 2023NOK 1.5tNOK 2.1tNOK 398.4b8.8x3.7x0.7x
Mon, 17 Apr 2023NOK 1.5tNOK 2.1tNOK 344.4b9x4.4x0.7x
Wed, 15 Mar 2023NOK 1.5tNOK 2.1tNOK 390.3b7.9x3.9x0.7x
Fri, 10 Feb 2023NOK 1.6tNOK 465.4bNOK 381.1b7.9x4.2x3.4x
Sun, 08 Jan 2023NOK 1.6tNOK 1.9tNOK 328.0b7.6x4.7x0.8x
Tue, 06 Dec 2022NOK 1.7tNOK 1.9tNOK 324.3b7.7x5.4x0.9x
Thu, 03 Nov 2022NOK 1.8tNOK 2.0tNOK 322.7b10x5.7x0.9x
Sat, 01 Oct 2022NOK 1.7tNOK 1.8tNOK 245.5b8.4x6.8x0.9x
Mon, 29 Aug 2022NOK 1.9tNOK 1.6tNOK 217.4b9.4x8.7x1.2x
Price to Earnings Ratio

8.7x


Total Market Cap: NOK 1.9tTotal Earnings: NOK 217.4bTotal Revenue: NOK 1.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Energy Sector Price to Earnings3Y Average 6.8x202320242025
Current Industry PE
  • Investors are optimistic on the Norwegian Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 10.0x which is higher than its 3-year average PE of 6.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.81x.
Past Earnings Growth
  • The earnings for companies in the Energy industry have declined 16% per year over the last three years.
  • Meanwhile revenues have remained mostly flat.
  • This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.

Industry Trends

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

NO Market1.36%
Energy2.42%
Energy Services4.51%
Oil and Gas1.74%
Industry PE
  • Investors are most optimistic about the Energy Services industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 45.2%, which is higher than its past year's earnings growth of 39.1% per year.
  • Investors are most pessimistic about the Oil and Gas industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 6.5x.
Forecasted Growth
  • Analysts are most optimistic on the Energy Services industry, expecting annual earnings growth of 45% over the next 5 years.
  • This is roughly in line with its past earnings growth rate.
  • In contrast, the Oil and Gas industry is expected to see its earnings grow by 3.1% 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
AKRBP Aker BPNOK 252.404.6%
+NOK 7.1b		-1.1%PE21.5x
COSH Constellation Oil Services HoldingNOK 85.005.6%
+NOK 6.9b		n/aPS23.4x
EQNR EquinorNOK 252.000.8%
+NOK 4.5b		-10.1%PE7.4x
ODL Odfjell DrillingNOK 80.0013.0%
+NOK 2.2b		42.3%PE17.6x
SUBC Subsea 7NOK 205.803.7%
+NOK 2.2b		6.2%PE22.3x

Latest News

BWLPG
NOK 162.20
BWG
7D
7.4%
1Y
-0.7%

Lacklustre Performance Is Driving BW LPG Limited's (OB:BWLPG) Low P/E

Aug 22
Lacklustre Performance Is Driving BW LPG Limited's (OB:BWLPG) Low P/E
ODL
NOK 80.00
Odfjell Drilling
7D
13.0%
1Y
42.3%

Odfjell Drilling Ltd. Just Beat EPS By 70%: Here's What Analysts Think Will Happen Next

Aug 22
Odfjell Drilling Ltd. Just Beat EPS By 70%: Here's What Analysts Think Will Happen Next
DNO
NOK 15.26
DNO
7D
7.8%
1Y
30.2%
AKRBP
NOK 252.40
Aker BP
7D
4.6%
1Y
-1.1%
SEA1
NOK 25.85
Sea1 Offshore
7D
-13.0%
1Y
-26.2%
NORAM
NOK 26.50
NorAm Drilling
7D
-2.0%
1Y
-32.6%
HAVI
NOK 1.45
Havila Shipping
7D
-12.1%
1Y
-72.1%

Is Havila Shipping (OB:HAVI) Using Too Much Debt?

Aug 13
Is Havila Shipping (OB:HAVI) Using Too Much Debt?
VAR
NOK 33.79
Vår Energi
7D
-1.0%
1Y
-2.7%
HAFNI
NOK 59.28
Hafnia
7D
5.8%
1Y
-26.5%

We Think Hafnia (OB:HAFNI) Can Stay On Top Of Its Debt

Aug 12
We Think Hafnia (OB:HAFNI) Can Stay On Top Of Its Debt
EQNR
NOK 252.00
Equinor
7D
0.8%
1Y
-10.1%
BNOR
NOK 486.00
BlueNord
7D
-0.4%
1Y
-2.0%

BlueNord ASA (OB:BNOR) Investors Are Less Pessimistic Than Expected

Aug 10
BlueNord ASA (OB:BNOR) Investors Are Less Pessimistic Than Expected
SUBC
NOK 205.80
Subsea 7
7D
3.7%
1Y
6.2%
ALNG
NOK 3.22
Awilco LNG
7D
-8.0%
1Y
-57.0%

Awilco LNG ASA's (OB:ALNG) 25% Share Price Surge Not Quite Adding Up

Aug 01
Awilco LNG ASA's (OB:ALNG) 25% Share Price Surge Not Quite Adding Up
COSH
NOK 85.00
Constellation Oil Services Holding
7D
5.6%
1Y
n/a
DFENS
NOK 1.16
Fjord Defence Group
7D
-7.6%
1Y
53.4%
SDNS
NOK 21.00
Shelf Drilling (North Sea)
7D
-29.3%
1Y
-31.6%