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Norwegian (OSEAX) Financials Sector Analysis

UpdatedSep 28, 2025
DataAggregated Company Financials
Companies48
  • 7D0.6%
  • 3M1.4%
  • 1Y32.7%
  • YTD23.7%

In the last week, the Financials industry is flat overall, with Protector Forsikring standing out by going down 3.5%. The past year has been better, since the industry has gained 33% in that time. Earnings are forecast to grow by 1.5% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 28 Sep 2025NOK 864.8bNOK 261.5bNOK 77.7b11x11.1x3.3x
Tue, 26 Aug 2025NOK 878.4bNOK 261.6bNOK 77.7b10.9x11.3x3.4x
Thu, 24 Jul 2025NOK 847.9bNOK 257.7bNOK 76.2b11.4x11.1x3.3x
Sat, 21 Jun 2025NOK 842.2bNOK 241.8bNOK 76.1b11.5x11.1x3.5x
Mon, 19 May 2025NOK 840.0bNOK 242.0bNOK 76.1b10.6x11x3.5x
Wed, 16 Apr 2025NOK 790.2bNOK 287.7bNOK 74.6b11x10.6x2.7x
Fri, 14 Mar 2025NOK 805.4bNOK 227.1bNOK 75.6b9.9x10.7x3.5x
Sun, 09 Feb 2025NOK 739.0bNOK 295.7bNOK 77.8b10.6x9.5x2.5x
Tue, 07 Jan 2025NOK 690.7bNOK 294.7bNOK 73.2b10.1x9.4x2.3x
Thu, 05 Dec 2024NOK 694.3bNOK 295.9bNOK 74.1b9.5x9.4x2.3x
Sat, 02 Nov 2024NOK 690.1bNOK 294.1bNOK 74.2b9.6x9.3x2.3x
Mon, 30 Sep 2024NOK 650.9bNOK 277.1bNOK 69.0b9.3x9.4x2.3x
Wed, 28 Aug 2024NOK 653.3bNOK 277.1bNOK 69.2b9x9.4x2.4x
Fri, 26 Jul 2024NOK 646.4bNOK 275.3bNOK 68.5b9.3x9.4x2.3x
Sun, 23 Jun 2024NOK 632.3bNOK 271.5bNOK 65.3b8.9x9.7x2.3x
Tue, 21 May 2024NOK 633.0bNOK 270.5bNOK 65.0b9.1x9.7x2.3x
Thu, 18 Apr 2024NOK 621.1bNOK 249.2bNOK 65.3b9.3x9.5x2.5x
Sat, 16 Mar 2024NOK 621.4bNOK 264.5bNOK 65.7b8.9x9.5x2.3x
Mon, 12 Feb 2024NOK 602.7bNOK 263.3bNOK 68.5b9.2x8.8x2.3x
Wed, 10 Jan 2024NOK 630.6bNOK 296.9bNOK 64.9b9.5x9.7x2.1x
Fri, 08 Dec 2023NOK 620.4bNOK 297.0bNOK 64.9b9x9.6x2.1x
Sun, 05 Nov 2023NOK 589.7bNOK 295.2bNOK 65.6b9.3x9x2x
Tue, 03 Oct 2023NOK 610.2bNOK 287.0bNOK 62.2b9.6x9.8x2.1x
Thu, 31 Aug 2023NOK 607.4bNOK 286.6bNOK 62.1b9x9.8x2.1x
Sat, 29 Jul 2023NOK 604.0bNOK 284.0bNOK 61.0b10x9.9x2.1x
Mon, 26 Jun 2023NOK 575.2bNOK 220.5bNOK 58.5b9.7x9.8x2.6x
Wed, 24 May 2023NOK 576.9bNOK 220.4bNOK 58.6b9.9x9.8x2.6x
Fri, 21 Apr 2023NOK 594.4bNOK 175.4bNOK 54.3b10.6x10.9x3.4x
Sun, 19 Mar 2023NOK 559.6bNOK 174.8bNOK 53.9b10.3x10.4x3.2x
Tue, 14 Feb 2023NOK 586.0bNOK 173.9bNOK 54.6b11x10.7x3.4x
Thu, 12 Jan 2023NOK 582.3bNOK 175.8bNOK 49.9b11.1x11.7x3.3x
Sat, 10 Dec 2022NOK 568.2bNOK 175.6bNOK 49.9b10.6x11.4x3.2x
Mon, 07 Nov 2022NOK 555.9bNOK 175.6bNOK 50.3b10.2x11x3.2x
Wed, 05 Oct 2022NOK 548.5bNOK 183.5bNOK 49.4b10.4x11.1x3x
Price to Earnings Ratio

11.1x


Total Market Cap: NOK 548.5bTotal Earnings: NOK 49.4bTotal Revenue: NOK 183.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Financials Sector Price to Earnings3Y Average 10.1x202320242025
Current Industry PE
  • Investors are relatively neutral on the Norwegian Financials industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 10.1x.
  • The 3-year average PS ratio of 2.7x is lower than the industry's current PS ratio of 3.3x.
Past Earnings Growth
  • The earnings for companies in the Financials industry have grown 16% per year over the last three years.
  • Revenues for these companies have grown 13% 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 Market1.34%
Financials0.58%
Insurance0.73%
Banks0.59%
Mortgage Finance0%0
Capital Markets-0.36%
Diversified Financial-0.37%
Consumer Finance-3.67%
Industry PE
  • Investors are most optimistic about the Capital Markets industry which is trading above its 3-year average PE ratio of 14.0x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Consumer Finance industry, expecting annual earnings growth of 37% over the next 5 years.
  • This is better than its past earnings decline of 37% per year.
  • In contrast, the Banks 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
DNB DNB BankNOK 273.001.1%
+NOK 3.9b		26.3%PB1.5x
GJF Gjensidige ForsikringNOK 281.002.2%
+NOK 3.0b		43.2%PE22.2x
MOBA Morrow BankNOK 15.107.9%
+NOK 254.4m		151.7%PB1.4x
HELG SpareBank 1 HelgelandNOK 183.983.8%
+NOK 180.0m		34.3%PB0.9x
STB StorebrandNOK 150.500.3%
+NOK 165.4m		30.3%PE13.9x

Latest News

SB1NO
NOK 176.00
SpareBank 1 Sør-Norge
7D
-2.0%
1Y
30.6%
GJF
NOK 281.00
Gjensidige Forsikring
7D
2.2%
1Y
43.2%

Gjensidige Forsikring ASA's (OB:GJF) Price Is Out Of Tune With Earnings

Sep 16
Gjensidige Forsikring ASA's (OB:GJF) Price Is Out Of Tune With Earnings
SPOL
NOK 187.30
SpareBank 1 Østlandet
7D
-0.4%
1Y
30.3%

Here's Why SpareBank 1 Østlandet (OB:SPOL) Has Caught The Eye Of Investors

Sep 11
Here's Why SpareBank 1 Østlandet (OB:SPOL) Has Caught The Eye Of Investors
STB
NOK 150.50
Storebrand
7D
0.3%
1Y
30.3%

Storebrand ASA's (OB:STB) Popularity With Investors Is Under Threat From Overpricing

Sep 05
Storebrand ASA's (OB:STB) Popularity With Investors Is Under Threat From Overpricing
DNB
NOK 273.00
DNB Bank
7D
1.1%
1Y
26.3%

Norwegian And European Low Rates Will Erode Net Margins

Analysts remain cautious on DNB Bank due to ongoing macroeconomic uncertainties and moderated interest rate expectations, balancing slightly improved capital and fee income outlooks, resulting in an unchanged consensus price target at NOK269.57. Analyst Commentary Mixed adjustments reflect shifting sentiment after recent earnings, with some analysts citing modestly improved outlooks while others remain cautious on sector fundamentals.
MOBA
NOK 15.10
Morrow Bank
7D
7.9%
1Y
151.7%
MING
NOK 191.76
SpareBank 1 SMN
7D
0.6%
1Y
25.6%
PARB
NOK 90.00
Pareto Bank
7D
-1.1%
1Y
37.4%
B2I
NOK 16.60
B2 Impact
7D
-3.7%
1Y
101.5%
SBNOR
NOK 175.86
Sparebanken Norge
7D
0.5%
1Y
41.5%
ACR
NOK 7.62
Axactor
7D
-3.5%
1Y
83.6%
SNOR
NOK 166.40
SpareBank 1 Nordmøre
7D
-3.3%
1Y
29.0%
ROGS
NOK 143.00
Rogaland Sparebank
7D
3.5%
1Y
34.9%
HELG
NOK 183.98
SpareBank 1 Helgeland
7D
3.8%
1Y
34.3%
PROT
NOK 481.00
Protector Forsikring
7D
-3.5%
1Y
101.7%

With EPS Growth And More, Protector Forsikring (OB:PROT) Makes An Interesting Case

Aug 11
With EPS Growth And More, Protector Forsikring (OB:PROT) Makes An Interesting Case
NONG
NOK 140.84
SpareBank 1 Nord-Norge
7D
-0.7%
1Y
31.3%