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Norwegian (OSEAX) Construction Industry Analysis

UpdatedJun 24, 2026
DataAggregated Company Financials
Companies11
  • 7D1.2%
  • 3M-0.9%
  • 1Y8.3%
  • YTD2.3%

Over the last 7 days, the Construction industry has risen 1.2%, driven by gains from Veidekke of 2.0%. This means that the industry has gained 9.1% over the past year. Earnings are forecast to grow by 11% annually.

Industry Valuation and Performance

Has the Norwegian Construction Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 24 Jun 2026NOK 98.0bNOK 130.9bNOK 7.3b18.1x13.4x0.7x
Fri, 22 May 2026NOK 100.1bNOK 130.5bNOK 7.2b18x13.9x0.8x
Sun, 19 Apr 2026NOK 101.8bNOK 130.4bNOK 7.5b16.6x13.5x0.8x
Tue, 17 Mar 2026NOK 97.8bNOK 129.6bNOK 7.5b16.9x13.1x0.8x
Thu, 12 Feb 2026NOK 97.5bNOK 127.7bNOK 6.4b17.3x15.3x0.8x
Sat, 10 Jan 2026NOK 93.6bNOK 127.9bNOK 6.6b15.4x14.2x0.7x
Mon, 08 Dec 2025NOK 91.4bNOK 127.9bNOK 6.6b14.7x13.9x0.7x
Wed, 05 Nov 2025NOK 86.7bNOK 125.6bNOK 5.9b13.8x14.8x0.7x
Fri, 03 Oct 2025NOK 90.4bNOK 125.5bNOK 5.9b14.4x15.4x0.7x
Sun, 31 Aug 2025NOK 90.4bNOK 125.2bNOK 5.9b15x15.4x0.7x
Tue, 29 Jul 2025NOK 91.7bNOK 120.9bNOK 2.6b18.3x34.9x0.8x
Thu, 26 Jun 2025NOK 87.1bNOK 110.4bNOK 2.2b17.6x40.5x0.8x
Sat, 24 May 2025NOK 79.3bNOK 110.3bNOK 2.1b17.1x37.4x0.7x
Mon, 21 Apr 2025NOK 78.2bNOK 107.8bNOK 1.5b22.7x51.5x0.7x
Wed, 19 Mar 2025NOK 78.7bNOK 106.9bNOK 844.3m24.9x93.2x0.7x
Fri, 14 Feb 2025NOK 72.5bNOK 94.2bNOK 1.1b35.1x68.5x0.8x
Sun, 12 Jan 2025NOK 75.6bNOK 94.2bNOK 1.2b34.9x65x0.8x
Tue, 10 Dec 2024NOK 74.3bNOK 94.2bNOK 1.2b33x63.6x0.8x
Thu, 07 Nov 2024NOK 69.8bNOK 93.1bNOK 682.1m28.7x102.4x0.7x
Sat, 05 Oct 2024NOK 70.3bNOK 92.8bNOK 697.1m25.5x100.8x0.8x
Mon, 02 Sep 2024NOK 68.6bNOK 92.7bNOK 682.0m25.7x100.6x0.7x
Wed, 31 Jul 2024NOK 69.0bNOK 92.2bNOK 1.6b27.1x42x0.7x
Fri, 28 Jun 2024NOK 67.0bNOK 92.1bNOK 1.7b26.3x40.5x0.7x
Sun, 26 May 2024NOK 65.0bNOK 92.1bNOK 2.0b26.4x32.4x0.7x
Tue, 23 Apr 2024NOK 58.2bNOK 92.3bNOK 2.0b23.3x29.4x0.6x
Thu, 21 Mar 2024NOK 57.4bNOK 91.8bNOK 742.4m18x77.3x0.6x
Sat, 17 Feb 2024NOK 53.5bNOK 91.4bNOK 526.8m15.4x101.6x0.6x
Mon, 15 Jan 2024NOK 54.0bNOK 90.2b-NOK 59,262,986.0013.7x-911.9x0.6x
Wed, 13 Dec 2023NOK 45.4bNOK 81.8bNOK 1.2b12.8x39x0.6x
Fri, 10 Nov 2023NOK 38.6bNOK 82.4bNOK 1.3b12.6x29.8x0.5x
Sun, 08 Oct 2023NOK 37.9bNOK 81.5bNOK 1.3b12.4x30x0.5x
Tue, 05 Sep 2023NOK 39.0bNOK 81.2bNOK 1.3b12.9x29.8x0.5x
Thu, 03 Aug 2023NOK 41.9bNOK 80.2bNOK 1.2b17.7x35.8x0.5x
Sat, 01 Jul 2023NOK 43.0bNOK 80.2bNOK 1.2b17.8x36.4x0.5x
Price to Earnings Ratio

36.4x


Total Market Cap: NOK 43.0bTotal Earnings: NOK 1.2bTotal Revenue: NOK 80.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Construction Industry Price to Earnings3Y Average 20.8x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Construction 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 13.4x which is lower than its 3-year average PE of 20.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.69x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 84% per year over the last three years.
  • Revenues for these companies have grown 18% 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 Industrials industry?

NO Market-0.51%
Industrials1.46%
Construction1.20%
Construction and Engineering1.20%
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
VEI VeidekkeNOK 184.802.0%
+NOK 487.4m		17.6%PE15.8x
AFG AF GruppenNOK 189.401.2%
+NOK 250.0m		25.8%PE18.6x
SNTIA SentiaNOK 78.003.0%
+NOK 230.0m		26.8%PE12.8x
NORCO NorconsultNOK 34.852.0%
+NOK 217.2m		-21.9%PE18.4x
MULTI MulticonsultNOK 149.400.1%
+NOK 5.5m		-25.1%PE18x

Latest News

MULTI
NOK 149.40
Multiconsult
7D
0.1%
1Y
-25.1%
Narrative Update • Jun 23

MULTI: Major Hospital Win Will Support Earnings Multiple And Upside Potential

Analysts have kept their Multiconsult fair value estimate steady at NOK 177.50, with only small tweaks to inputs such as discount rate, revenue growth, profit margin and future P/E that help to refine their price target rationale rather than shift it meaningfully. What’s in the News for Multiconsult Multiconsult, through its subsidiary LINK Arkitektur, together with Sweco and other partners, has been awarded a contract by Region Skåne to develop the programme for a new emergency hospital and hospital area in Helsingborg, Sweden.
CADLR
NOK 52.75
Cadeler
7D
-1.3%
1Y
0.09%
Analysis Article • Jun 18

Cadeler (OB:CADLR) Stock Could Be 24.3% Undervalued After Sofia Wind Farm Milestone

Cadeler (OB:CADLR) has completed the installation of all 100 Siemens Gamesa turbines at the 1.4 GW Sofia Offshore Wind Farm in the UK North Sea, using its new P class vessel Wind Peak. See our latest analysis for Cadeler. Cadeler’s completion of the Sofia Offshore Wind Farm turbine campaign comes after a mixed year in the market, with the NOK53.25 share price up 10.71% year to date. However, a weaker 30 day share price return and a steadier 1 year total shareholder return of 1.04% suggest...
OSUN
NOK 0.54
Ocean Sun
7D
-34.9%
1Y
-59.9%
AFG
NOK 189.40
AF Gruppen
7D
1.2%
1Y
25.8%
Analysis Article • Jun 17

AF Gruppen (OB:AFG) Stock Could Be 17.6% Below Fair Value After Oslo Contract Win

AF Gruppen (OB:AFG) stock is in focus after the company agreed a NOK 450 million turnkey contract with KLP Eiendom to refurbish the Citypassagen office complex in central Oslo. See our latest analysis for AF Gruppen. The Citypassagen contract lands at a time when AF Gruppen’s share price has a 90 day share price return of 6.61%, while the 1 year total shareholder return of 32.84% points to stronger longer term momentum building from a relatively moderate year to date move. If this kind of...
VEI
NOK 184.80
Veidekke
7D
2.0%
1Y
17.6%
Analysis Article • Jun 16

Veidekke (OB:VEI) Stock Could Be 41% Below Fair Value After Road Contract Wins

Why Veidekke stock is in focus after new road maintenance wins Veidekke (OB:VEI) has drawn fresh attention after securing four road operation and maintenance contracts in Norway, along with extensions on two existing agreements worth a combined NOK 1,500 million. These awards expand Veidekke's role across approximately 13,000 kilometres of national and county roads and are expected to be added to the order backlog in the second quarter of 2026. See our latest analysis for Veidekke. Alongside...
NORCO
NOK 34.85
Norconsult
7D
2.0%
1Y
-21.9%
Narrative Update • Jun 15

NORCO: Planned 2026 Cash Dividend Will Support Future Share Price Upside

Analysts have kept Norconsult's price target steady at around NOK 45.33, with small tweaks to the discount rate, revenue growth, profit margin assumptions, and future P/E expectations informing this unchanged view. What's in the News The Board of Directors of Norconsult ASA plans to propose a cash dividend of NOK 1.80 per share for the financial year at the Annual General Meeting on 4 May 2026.
MORLD
NOK 19.36
Moreld
7D
-1.7%
1Y
26.0%
IWS
NOK 59.60
Integrated Wind Solutions
7D
-2.0%
1Y
37.8%
ININ
NOK 2.86
Inin Group
7D
-4.0%
1Y
24.3%
NRC
NOK 8.10
NRC Group
7D
-0.9%
1Y
27.0%
SNTIA
NOK 78.00
Sentia
7D
3.0%
1Y
26.8%