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Norwegian (OSEAX) Financials Sector Analysis

UpdatedMay 12, 2026
DataAggregated Company Financials
Companies49
  • 7D-0.2%
  • 3M-4.6%
  • 1Y10.1%
  • YTD-4.0%

Over the last 7 days, the Financials industry has dropped 1.8%, driven by SpareBank 1 Sør-Norge declining 3.2%. In the past year, the industry has gained 9.7%. Looking forward, earnings are forecast to grow by 5.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 12 May 2026NOK 890.6bNOK 295.8bNOK 76.0b11.7x11.7x3x
Thu, 09 Apr 2026NOK 946.9bNOK 281.4bNOK 77.8b11.9x12.2x3.4x
Sat, 07 Mar 2026NOK 928.5bNOK 281.6bNOK 78.2b11.4x11.9x3.3x
Mon, 02 Feb 2026NOK 897.6bNOK 271.6bNOK 76.8b11.6x11.7x3.3x
Wed, 31 Dec 2025NOK 932.2bNOK 270.9bNOK 76.3b12x12.2x3.4x
Fri, 28 Nov 2025NOK 868.8bNOK 270.9bNOK 76.7b10.8x11.3x3.2x
Sun, 26 Oct 2025NOK 834.6bNOK 269.2bNOK 76.2b10.8x10.9x3.1x
Tue, 23 Sep 2025NOK 853.4bNOK 261.6bNOK 77.7b11.1x11x3.3x
Thu, 21 Aug 2025NOK 806.4bNOK 214.2bNOK 73.4b10.3x11x3.8x
Sat, 19 Jul 2025NOK 849.3bNOK 257.7bNOK 76.2b11.6x11.1x3.3x
Mon, 16 Jun 2025NOK 840.6bNOK 241.7bNOK 76.1b11.3x11x3.5x
Wed, 14 May 2025NOK 809.0bNOK 241.8bNOK 76.1b11.1x10.6x3.3x
Fri, 11 Apr 2025NOK 759.5bNOK 287.7bNOK 74.7b10.7x10.2x2.6x
Sun, 09 Mar 2025NOK 791.5bNOK 227.1bNOK 78.4b9.8x10.1x3.5x
Tue, 04 Feb 2025NOK 743.6bNOK 293.2bNOK 73.4b11x10.1x2.5x
Thu, 02 Jan 2025NOK 687.9bNOK 295.1bNOK 73.3b10.3x9.4x2.3x
Sat, 30 Nov 2024NOK 684.4bNOK 295.9bNOK 74.1b9.5x9.2x2.3x
Mon, 28 Oct 2024NOK 691.4bNOK 292.9bNOK 72.1b9.7x9.6x2.4x
Wed, 25 Sep 2024NOK 647.1bNOK 277.1bNOK 69.0b9.3x9.4x2.3x
Fri, 23 Aug 2024NOK 651.4bNOK 277.1bNOK 69.3b9x9.4x2.4x
Sun, 21 Jul 2024NOK 644.2bNOK 275.3bNOK 68.4b9.3x9.4x2.3x
Tue, 18 Jun 2024NOK 639.7bNOK 271.4bNOK 65.3b9x9.8x2.4x
Thu, 16 May 2024NOK 629.3bNOK 270.4bNOK 65.0b9.5x9.7x2.3x
Sat, 13 Apr 2024NOK 629.0bNOK 249.2bNOK 65.2b9.4x9.6x2.5x
Mon, 11 Mar 2024NOK 624.5bNOK 264.3bNOK 65.9b8.8x9.5x2.4x
Wed, 07 Feb 2024NOK 614.7bNOK 300.0bNOK 64.4b9.3x9.5x2x
Fri, 05 Jan 2024NOK 631.7bNOK 296.9bNOK 64.9b9.4x9.7x2.1x
Sun, 03 Dec 2023NOK 610.7bNOK 296.9bNOK 64.9b9x9.4x2.1x
Tue, 31 Oct 2023NOK 589.7bNOK 291.5bNOK 65.5b9.8x9x2x
Thu, 28 Sep 2023NOK 611.3bNOK 287.0bNOK 62.3b9.3x9.8x2.1x
Sat, 26 Aug 2023NOK 604.9bNOK 286.6bNOK 62.1b9x9.7x2.1x
Mon, 24 Jul 2023NOK 599.1bNOK 284.0bNOK 61.0b9.9x9.8x2.1x
Wed, 21 Jun 2023NOK 586.0bNOK 220.4bNOK 58.5b9.8x10x2.7x
Fri, 19 May 2023NOK 567.0bNOK 184.7bNOK 58.6b10.3x9.7x3.1x
Price to Earnings Ratio

9.7x


Total Market Cap: NOK 567.0bTotal Earnings: NOK 58.6bTotal Revenue: NOK 184.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Financials Sector Price to Earnings3Y Average 10.3x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Financials industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 11.7x which is higher than its 3-year average PE of 10.3x.
  • The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 3.0x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 9.1% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Financials sector?

NO Market-2.99%
Financials-0.21%
Consumer Finance1.96%
Mortgage Finance0%0
Insurance-0.0071%
Banks-0.30%
Diversified Financial-0.88%
Capital Markets-1.81%
Industry PE
  • Investors are most optimistic about the Diversified Financial industry which is trading above its 3-year average PE ratio of 28.8x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Banks industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 9.0x.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 13% over the next 5 years.
  • However this is lower than its past earnings growth rate of 124% per year.
  • In contrast, the Banks industry is expected to see its earnings grow by 3.8% 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
DNB DNB BankNOK 281.401.1%
+NOK 4.4b		6.9%PB1.4x
STB StorebrandNOK 178.001.0%
+NOK 756.9m		38.5%PE16.2x
PROT Protector ForsikringNOK 467.801.9%
+NOK 726.0m		22.0%PE19x
MORG Sparebanken MøreNOK 115.362.5%
+NOK 138.8m		12.9%PB0.6x
B2I B2 ImpactNOK 23.651.5%
+NOK 129.8m		96.4%PE14.1x

Latest News

SPOL
NOK 191.56
SpareBank 1 Østlandet
7D
-4.2%
1Y
8.6%
NONG
NOK 147.30
SpareBank 1 Nord-Norge
7D
-4.3%
1Y
1.7%
Analysis Article • May 11

SpareBank 1 Nord-Norge (OB:NONG) Just Reported First-Quarter Earnings: Have Analysts Changed Their Mind On The Stock?

SpareBank 1 Nord-Norge ( OB:NONG ) shareholders are probably feeling a little disappointed, since its shares fell 4.8...
SB1NO
NOK 191.20
SpareBank 1 Sør-Norge
7D
-3.2%
1Y
8.1%
ROGS
NOK 146.20
Rogaland Sparebank
7D
-2.8%
1Y
9.8%
GJF
NOK 251.60
Gjensidige Forsikring
7D
-1.2%
1Y
1.7%
Narrative Update • May 07

GJF: Upgraded Views And Dividend Payouts Will Support Medium-Term Upside Potential

The analyst fair value estimate for Gjensidige Forsikring has shifted from NOK 330 to NOK 321, as analysts weigh more bullish views from recent upgrades against updated assumptions for the discount rate, revenue growth, profit margin and future P/E. Analyst Commentary Recent Street research around Gjensidige Forsikring reflects a split in opinion, with two bullish analysts upgrading the stock and one more cautious voice issuing a downgrade.
PROT
NOK 467.80
Protector Forsikring
7D
1.9%
1Y
22.0%
SBNOR
NOK 192.28
Sparebanken Norge
7D
-0.6%
1Y
34.1%
HELG
NOK 159.00
SpareBank 1 Helgeland
7D
-5.9%
1Y
-8.1%
STB
NOK 178.00
Storebrand
7D
1.0%
1Y
38.5%
ACR
NOK 5.27
Axactor
7D
4.6%
1Y
-4.9%
APRILA
NOK 10.30
Aprila Bank
7D
8.4%
1Y
66.1%
DNB
NOK 281.40
DNB Bank
7D
1.1%
1Y
6.9%
MORG
NOK 115.36
Sparebanken Møre
7D
2.5%
1Y
12.9%
MING
NOK 194.26
SpareBank 1 SMN
7D
-5.0%
1Y
3.3%
RING
NOK 438.00
SpareBank 1 Ringerike Hadeland
7D
0.4%
1Y
16.5%
B2I
NOK 23.65
B2 Impact
7D
1.5%
1Y
96.4%
Analysis Article • Feb 15

B2 Impact (OB:B2I) Has Announced That It Will Be Increasing Its Dividend To NOK1.90

The board of B2 Impact ASA ( OB:B2I ) has announced that it will be paying its dividend of NOK1.90 on the 3rd of June...