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Norwegian (OSEAX) Industrials Sector Analysis

UpdatedDec 31, 2025
DataAggregated Company Financials
Companies57
  • 7D1.2%
  • 3M-6.0%
  • 1Y4.3%
  • YTD3.2%

The Industrials industry is up 1.6% in the last week, with AutoStore Holdings up 7.7%. In the last 12 months, the industry was up 3.9%. As for the next few years, earnings are expected to grow by 10% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 31 Dec 2025NOK 663.7bNOK 443.5bNOK 43.6b16.4x15.2x1.5x
Fri, 28 Nov 2025NOK 640.0bNOK 446.0bNOK 45.3b15.7x14.1x1.4x
Sun, 26 Oct 2025NOK 669.6bNOK 439.6bNOK 43.6b14.1x15.4x1.5x
Tue, 23 Sep 2025NOK 711.5bNOK 438.7bNOK 42.9b15.2x16.6x1.6x
Thu, 21 Aug 2025NOK 681.9bNOK 439.1bNOK 43.4b15.9x15.7x1.6x
Sat, 19 Jul 2025NOK 701.0bNOK 434.4bNOK 43.7b15.9x16x1.6x
Mon, 16 Jun 2025NOK 740.1bNOK 429.4bNOK 37.8b15.2x19.6x1.7x
Wed, 14 May 2025NOK 658.4bNOK 427.9bNOK 37.3b12.4x17.7x1.5x
Fri, 11 Apr 2025NOK 618.9bNOK 432.4bNOK 37.9b12.2x16.3x1.4x
Sun, 09 Mar 2025NOK 669.6bNOK 440.6bNOK 42.4b12x15.8x1.5x
Tue, 04 Feb 2025NOK 657.8bNOK 446.2bNOK 42.8b10.6x15.4x1.5x
Thu, 02 Jan 2025NOK 645.3bNOK 445.8bNOK 43.4b11.8x14.9x1.4x
Sat, 30 Nov 2024NOK 660.9bNOK 440.8bNOK 42.4b11.7x15.6x1.5x
Mon, 28 Oct 2024NOK 640.9bNOK 436.4bNOK 40.6b12.8x15.8x1.5x
Wed, 25 Sep 2024NOK 636.2bNOK 421.9bNOK 37.6b12.8x16.9x1.5x
Fri, 23 Aug 2024NOK 636.6bNOK 429.5bNOK 38.9b12x16.4x1.5x
Sun, 21 Jul 2024NOK 652.4bNOK 434.4bNOK 37.1b11.4x17.6x1.5x
Tue, 18 Jun 2024NOK 601.7bNOK 422.6bNOK 34.7b11.2x17.4x1.4x
Thu, 16 May 2024NOK 623.4bNOK 420.2bNOK 35.1b12.6x17.7x1.5x
Sat, 13 Apr 2024NOK 590.2bNOK 419.7bNOK 34.5b13.1x17.1x1.4x
Mon, 11 Mar 2024NOK 555.4bNOK 408.9bNOK 23.2b12.6x23.9x1.4x
Wed, 07 Feb 2024NOK 534.2bNOK 408.9bNOK 22.9b10.4x23.3x1.3x
Fri, 05 Jan 2024NOK 547.4bNOK 420.4bNOK 21.6b10.9x25.3x1.3x
Sun, 03 Dec 2023NOK 523.7bNOK 427.4bNOK 26.3b10.6x19.9x1.2x
Tue, 31 Oct 2023NOK 480.5bNOK 432.3bNOK 23.3b11.1x20.6x1.1x
Thu, 28 Sep 2023NOK 506.3bNOK 422.7bNOK 21.4b11.8x23.6x1.2x
Sat, 26 Aug 2023NOK 520.7bNOK 421.8bNOK 22.0b12.4x23.7x1.2x
Mon, 24 Jul 2023NOK 551.9bNOK 407.3bNOK 16.7b15.2x33x1.4x
Wed, 21 Jun 2023NOK 570.2bNOK 424.0bNOK 39.1b16.1x14.6x1.3x
Fri, 19 May 2023NOK 554.6bNOK 423.8bNOK 41.3b13.9x13.4x1.3x
Sun, 16 Apr 2023NOK 565.0bNOK 408.6bNOK 40.0b14.3x14.1x1.4x
Tue, 14 Mar 2023NOK 550.7bNOK 410.7bNOK 45.3b13.2x12.2x1.3x
Thu, 09 Feb 2023NOK 584.5bNOK 395.4bNOK 47.4b10.6x12.3x1.5x
Sat, 07 Jan 2023NOK 561.1bNOK 388.8bNOK 46.1b10.1x12.2x1.4x
Price to Earnings Ratio

12.2x


Total Market Cap: NOK 561.1bTotal Earnings: NOK 46.1bTotal Revenue: NOK 388.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Industrials Sector Price to Earnings3Y Average 17.6x20242025
Current Industry PE
  • Investors are pessimistic on the Norwegian Industrials 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 15.1x which is lower than its 3-year average PE of 17.6x.
  • The industry is trading close to its 3-year average PS ratio of 1.4x.
Past Earnings Growth
  • The earnings for companies in the Industrials industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have grown 4.5% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

NO Market1.39%
Industrials1.23%
Machinery4.08%
Building2.80%
Marine and Shipping2.52%
Industrials1.97%
Construction1.49%
Airlines0.98%
Electrical0.97%
Professional Services0.91%
Logistics0%0
Transportation0%0
Infrastructure0%0
Aerospace & Defense-0.79%
Commercial Services-5.07%
Industry PE
  • Investors are most optimistic about the Industrials industry which is trading above its 3-year average PE ratio of 16.3x.
    • Analysts are expecting annual earnings decline of 7.2%, which is lower than the prior year's growth of 19.5% per year.
Forecasted Growth
  • Analysts are most optimistic on the Commercial Services industry, expecting annual earnings growth of 73% over the next 5 years.
  • In contrast, the Marine and Shipping industry is expected to see its earnings decline by 14% 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
AUTO AutoStore HoldingsNOK 11.817.7%
+NOK 2.8b		6.3%PE48.8x
AKER AkerNOK 768.002.5%
+NOK 1.4b		39.9%PE799x
TOM Tomra SystemsNOK 136.002.4%
+NOK 945.3m		-7.2%PE34.1x
WAWI Wallenius WilhelmsenNOK 101.001.9%
+NOK 803.3m		8.0%PE3.8x
WWI Wilh. Wilhelmsen HoldingNOK 590.003.1%
+NOK 755.2m		44.1%PE4x

Latest News

CAMBI
NOK 16.40
Cambi
7D
-3.2%
1Y
13.1%
WAWI
NOK 101.00
Wallenius Wilhelmsen
7D
1.9%
1Y
8.0%

Are Investors Undervaluing Wallenius Wilhelmsen ASA (OB:WAWI) By 37%?

Dec 30
Are Investors Undervaluing Wallenius Wilhelmsen ASA (OB:WAWI) By 37%?
PYRUM
NOK 329.00
Pyrum Innovations
7D
-13.6%
1Y
1.9%
AKVA
NOK 88.80
AKVA group
7D
-1.3%
1Y
30.6%

AKVA: Higher 2027 EBIT Margin Outlook Will Support Stronger Earnings

Analysts have raised their fair value estimate for AKVA group from NOK 80 to NOK 105, citing expectations for slightly faster revenue growth, improved profit margins and a higher justified future P/E multiple despite a modest uptick in the discount rate. What's in the News Issued new earnings guidance for 2025, targeting minimum revenue of NOK 4 billion and an EBIT margin of at least 6 percent (company guidance).
SNI
NOK 326.00
Stolt-Nielsen
7D
3.0%
1Y
12.8%

SNI: Share Buybacks And Dividend Will Drive Strong Future Upside

Analysts have trimmed their Stolt-Nielsen price target by about 3 percent to approximately NOK 370, citing higher discount rates, reduced revenue growth expectations and slightly weaker profit margin assumptions, partly offset by a higher future P/E multiple. What's in the News Completed share repurchase of approximately 2.53 million shares between May 16 and June 23, 2025, under the previously announced buyback program (company announcement).
HAUTO
NOK 98.05
Höegh Autoliners
7D
2.7%
1Y
-13.4%
WWI
NOK 590.00
Wilh. Wilhelmsen Holding
7D
3.1%
1Y
44.1%

WWI Will Reward Shareholders Through Prospective Additional Dividend Payout

Analysts have increased their average price target for Wilh. Wilhelmsen Holding from NOK 524 to NOK 705, citing modestly higher assumed revenue growth and valuation multiples, partly offset by more conservative long term margin expectations.
AUTO
NOK 11.81
AutoStore Holdings
7D
7.7%
1Y
6.3%

AutoStore Holdings Ltd.'s (OB:AUTO) Intrinsic Value Is Potentially 98% Above Its Share Price

Dec 17
AutoStore Holdings Ltd.'s (OB:AUTO) Intrinsic Value Is Potentially 98% Above Its Share Price
KOG
NOK 258.60
Kongsberg Gruppen
7D
-0.8%
1Y
1.0%

The Trend Of High Returns At Kongsberg Gruppen (OB:KOG) Has Us Very Interested

Dec 17
The Trend Of High Returns At Kongsberg Gruppen (OB:KOG) Has Us Very Interested
TOM
NOK 136.00
Tomra Systems
7D
2.4%
1Y
-7.2%

Should You Think About Buying Tomra Systems ASA (OB:TOM) Now?

Dec 16
Should You Think About Buying Tomra Systems ASA (OB:TOM) Now?
NTG
NOK 1.10
Nordic Technology Group
7D
-19.1%
1Y
-42.1%
MULTI
NOK 177.00
Multiconsult
7D
-1.4%
1Y
-11.1%
AGLX
NOK 24.50
Agilyx
7D
-4.9%
1Y
-31.9%
VEI
NOK 178.60
Veidekke
7D
2.3%
1Y
25.6%
AKER
NOK 768.00
Aker
7D
2.5%
1Y
39.9%
NEL
NOK 2.23
Nel
7D
-2.1%
1Y
-17.5%

These Analysts Think Nel ASA's (OB:NEL) Sales Are Under Threat

Nov 05
These Analysts Think Nel ASA's (OB:NEL) Sales Are Under Threat