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Norwegian (OSEAX) Construction Industry Analysis

UpdatedMay 09, 2026
DataAggregated Company Financials
Companies11
  • 7D-1.0%
  • 3M1.1%
  • 1Y13.3%
  • YTD5.9%

Over the last 7 days, the Construction industry has dropped 1.0%, driven by a pullback from Veidekke of 4.6%. On the other hand Cadeler is actually up 5.4%. This takes the industry's 12 month performance to a gain of 13%. As for the next few years, earnings are expected to grow by 8.5% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 10 May 2026NOK 101.6bNOK 128.8bNOK 7.3b17.5x14x0.8x
Tue, 07 Apr 2026NOK 99.1bNOK 130.6bNOK 7.6b16.5x13x0.8x
Thu, 05 Mar 2026NOK 99.0bNOK 129.6bNOK 7.5b17x13.3x0.8x
Sat, 31 Jan 2026NOK 96.7bNOK 127.7bNOK 6.5b15.1x14.9x0.8x
Mon, 29 Dec 2025NOK 93.1bNOK 128.0bNOK 6.6b15.9x14.1x0.7x
Wed, 26 Nov 2025NOK 87.9bNOK 128.4bNOK 6.6b14.3x13.4x0.7x
Fri, 24 Oct 2025NOK 89.4bNOK 125.5bNOK 5.8b14.4x15.3x0.7x
Sun, 21 Sep 2025NOK 92.4bNOK 125.5bNOK 5.9b15.3x15.8x0.7x
Tue, 19 Aug 2025NOK 89.9bNOK 122.5bNOK 4.0b17x22.5x0.7x
Thu, 17 Jul 2025NOK 90.7bNOK 110.4bNOK 2.2b18x41.9x0.8x
Sat, 14 Jun 2025NOK 87.8bNOK 110.2bNOK 2.1b18x41.4x0.8x
Mon, 12 May 2025NOK 80.0bNOK 107.2bNOK 1.5b23.8x51.8x0.7x
Wed, 09 Apr 2025NOK 73.9bNOK 107.8bNOK 1.5b21.5x48.7x0.7x
Fri, 07 Mar 2025NOK 76.1bNOK 106.9bNOK 835.3m23.9x91.2x0.7x
Sun, 02 Feb 2025NOK 76.6bNOK 94.2bNOK 1.2b34.4x65.8x0.8x
Tue, 31 Dec 2024NOK 76.5bNOK 94.3bNOK 1.2b34.8x65.7x0.8x
Thu, 28 Nov 2024NOK 72.8bNOK 93.9bNOK 1.1b31.1x66.5x0.8x
Sat, 26 Oct 2024NOK 71.8bNOK 92.8bNOK 690.7m27.5x103.9x0.8x
Mon, 23 Sep 2024NOK 67.9bNOK 92.8bNOK 698.7m24.8x97.1x0.7x
Wed, 21 Aug 2024NOK 68.3bNOK 91.8bNOK 1.7b25.7x39.1x0.7x
Fri, 19 Jul 2024NOK 68.7bNOK 92.2bNOK 1.6b27.8x41.7x0.7x
Sun, 16 Jun 2024NOK 65.2bNOK 92.1bNOK 1.7b26.5x39.4x0.7x
Tue, 14 May 2024NOK 62.8bNOK 92.3bNOK 2.1b25.5x29.9x0.7x
Thu, 11 Apr 2024NOK 59.3bNOK 92.3bNOK 2.0b24.9x29.9x0.6x
Sat, 09 Mar 2024NOK 57.3bNOK 91.7bNOK 756.8m18x75.8x0.6x
Mon, 05 Feb 2024NOK 53.7bNOK 90.2b-NOK 92,714,903.0014.8x-578.9x0.6x
Wed, 03 Jan 2024NOK 53.7bNOK 80.9b-NOK 564,432,093.0017.4x-95.2x0.7x
Fri, 01 Dec 2023NOK 44.8bNOK 81.8bNOK 1.2b12.9x38.5x0.5x
Sun, 29 Oct 2023NOK 37.1bNOK 81.5bNOK 1.3b12x29.1x0.5x
Tue, 26 Sep 2023NOK 38.0bNOK 81.2bNOK 1.3b12.8x29.1x0.5x
Thu, 24 Aug 2023NOK 39.3bNOK 81.5bNOK 1.2b17.5x32.7x0.5x
Sat, 22 Jul 2023NOK 43.0bNOK 80.2bNOK 1.2b17.6x36.7x0.5x
Mon, 19 Jun 2023NOK 43.1bNOK 80.2bNOK 1.2b18.5x36.7x0.5x
Wed, 17 May 2023NOK 43.2bNOK 80.2bNOK 1.2b19.3x35.9x0.5x
Price to Earnings Ratio

35.9x


Total Market Cap: NOK 43.2bTotal Earnings: NOK 1.2bTotal Revenue: NOK 80.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Construction Industry Price to Earnings3Y Average 21.7x202420252026
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 14.0x which is lower than its 3-year average PE of 21.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.68x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 82% 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 Industrials industry?

NO Market-2.98%
Industrials0.78%
Construction-1.01%
Construction and Engineering-1.01%
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
CADLR CadelerNOK 67.455.4%
+NOK 1.3b		32.8%PE8.6x
MULTI MulticonsultNOK 160.601.3%
+NOK 55.1m		-18.5%PE17.5x
IWS Integrated Wind SolutionsNOK 60.802.0%
+NOK 47.9m		43.7%PE13.4x
MORLD MoreldNOK 19.420.6%
+NOK 21.5m		63.7%PE56.1x
OSUN Ocean SunNOK 1.6311.7%
+NOK 8.5m		43.2%PS37x

Latest News

AFG
NOK 174.00
AF Gruppen
7D
-2.4%
1Y
11.5%
MORLD
NOK 19.42
Moreld
7D
0.6%
1Y
63.7%
NORCO
NOK 37.15
Norconsult
7D
-5.6%
1Y
-22.6%
IWS
NOK 60.80
Integrated Wind Solutions
7D
2.0%
1Y
43.7%
Analysis Article • May 01

Integrated Wind Solutions' (OB:IWS) Earnings Are Of Questionable Quality

Integrated Wind Solutions ASA's ( OB:IWS ) robust earnings report didn't manage to move the market for its stock. Our...
VEI
NOK 178.00
Veidekke
7D
-4.6%
1Y
20.1%
MULTI
NOK 160.60
Multiconsult
7D
1.3%
1Y
-18.5%
Narrative Update • Apr 28

MULTI: Defence And Water Contracts Will Support Attractive Forward Earnings Multiple

Analysts now set their fair value estimate for Multiconsult at NOK 178, up from NOK 170, reflecting updated views on discount rate, revenue growth, profit margin and an implied forward P/E of 14.53x versus 13.34x previously. What's in the News The board plans to propose a dividend of NOK 5.00 per share for the 2025 financial year to the annual general meeting on 16 April 2026, with payment conditioned on shareholder approval (Key Developments).
CADLR
NOK 67.45
Cadeler
7D
5.4%
1Y
32.8%
Narrative Update • Apr 24

CADLR: Mixed Broker Views And Taiwan Contracts Will Shape Future Outlook

Narrative Update on Cadeler The analyst price target for Cadeler has been adjusted slightly lower, from NOK 67.47 to NOK 65.85, as analysts factor in mixed recent ratings changes and a modest reset in assumed future P/E multiples while keeping revenue growth and profit margin assumptions broadly unchanged. Analyst Commentary Recent research on Cadeler points to a mixed but engaged analyst view, with differing opinions on upside potential and the balance of risk around execution and valuation.
OSUN
NOK 1.63
Ocean Sun
7D
11.7%
1Y
43.2%
SNTIA
NOK 78.10
Sentia
7D
-1.5%
1Y
n/a
ININ
NOK 3.24
Inin Group
7D
-2.4%
1Y
41.5%
NRC
NOK 8.34
NRC Group
7D
-3.1%
1Y
68.3%