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Norwegian (OSEAX) Construction Industry Analysis

UpdatedDec 24, 2025
DataAggregated Company Financials
Companies11
  • 7D1.7%
  • 3M1.5%
  • 1Y6.4%
  • YTD5.2%

The Construction industry is up 1.7% in the last week, with Moreld up 10%. In the same time, Ocean Sun was down 7.6%. This means that the industry has gained 6.4% over the past year. As for the next few years, earnings are expected to grow by 14% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 25 Dec 2025NOK 93.1bNOK 128.0bNOK 6.6b15.9x14.1x0.7x
Sat, 22 Nov 2025NOK 86.6bNOK 128.4bNOK 6.5b14.1x13.2x0.7x
Mon, 20 Oct 2025NOK 88.3bNOK 125.6bNOK 5.9b14.1x15x0.7x
Wed, 17 Sep 2025NOK 92.0bNOK 125.5bNOK 5.8b15x15.8x0.7x
Fri, 15 Aug 2025NOK 90.3bNOK 121.5bNOK 2.7b17x33.8x0.7x
Sun, 13 Jul 2025NOK 90.5bNOK 110.4bNOK 2.2b17.8x41.9x0.8x
Tue, 10 Jun 2025NOK 81.2bNOK 110.3bNOK 2.1b17.7x38.2x0.7x
Thu, 08 May 2025NOK 81.4bNOK 107.7bNOK 1.6b23.6x51.6x0.8x
Sat, 05 Apr 2025NOK 72.9bNOK 107.8bNOK 1.5b21x48.5x0.7x
Mon, 03 Mar 2025NOK 72.2bNOK 101.5bNOK 414.7m25.5x174x0.7x
Wed, 29 Jan 2025NOK 74.7bNOK 94.2bNOK 1.2b34.4x64x0.8x
Fri, 27 Dec 2024NOK 75.9bNOK 94.3bNOK 1.2b33.8x65.1x0.8x
Sun, 24 Nov 2024NOK 71.8bNOK 93.2bNOK 780.6m29.6x92x0.8x
Tue, 22 Oct 2024NOK 71.7bNOK 92.8bNOK 690.3m28x103.8x0.8x
Thu, 19 Sep 2024NOK 67.6bNOK 92.8bNOK 696.0m24.8x97.1x0.7x
Sat, 17 Aug 2024NOK 68.3bNOK 91.8bNOK 1.7b26.3x39.5x0.7x
Mon, 15 Jul 2024NOK 68.4bNOK 92.1bNOK 1.6b27.4x41.4x0.7x
Wed, 12 Jun 2024NOK 64.6bNOK 92.1bNOK 1.7b26.1x39.1x0.7x
Fri, 10 May 2024NOK 62.6bNOK 92.3bNOK 2.1b25.5x29.8x0.7x
Sun, 07 Apr 2024NOK 59.7bNOK 92.3bNOK 2.0b23.9x30.1x0.6x
Tue, 05 Mar 2024NOK 57.0bNOK 91.7bNOK 742.5m18x76.7x0.6x
Thu, 01 Feb 2024NOK 53.5bNOK 90.2b-NOK 82,807,912.0014.7x-646.1x0.6x
Sat, 30 Dec 2023NOK 54.3bNOK 80.9b-NOK 543,886,780.0017.6x-99.9x0.7x
Mon, 27 Nov 2023NOK 43.9bNOK 81.7bNOK 1.3b12.7x34.2x0.5x
Wed, 25 Oct 2023NOK 36.0bNOK 81.5bNOK 1.3b12x28.3x0.4x
Fri, 22 Sep 2023NOK 38.7bNOK 81.2bNOK 1.3b13x29.7x0.5x
Sun, 20 Aug 2023NOK 40.8bNOK 81.5bNOK 1.2b17.9x33.9x0.5x
Tue, 18 Jul 2023NOK 42.4bNOK 80.2bNOK 1.2b17.3x36.2x0.5x
Thu, 15 Jun 2023NOK 43.5bNOK 80.2bNOK 1.2b18.6x37x0.5x
Sat, 13 May 2023NOK 43.4bNOK 79.6bNOK 1.4b17.3x31.8x0.5x
Mon, 10 Apr 2023NOK 43.6bNOK 78.5bNOK 1.4b16.9x30.5x0.6x
Wed, 08 Mar 2023NOK 45.8bNOK 78.0bNOK 1.2b17.3x39.4x0.6x
Fri, 03 Feb 2023NOK 43.2bNOK 76.5bNOK 1.4b32.9x30.4x0.6x
Sun, 01 Jan 2023NOK 39.9bNOK 76.4bNOK 1.4b31.6x28x0.5x
Price to Earnings Ratio

28x


Total Market Cap: NOK 39.9bTotal Earnings: NOK 1.4bTotal Revenue: NOK 76.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Construction Industry Price to Earnings3Y Average 23.9x202320242025
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 14.1x which is lower than its 3-year average PE of 23.9x.
  • The industry is trading close to its 3-year average PS ratio of 0.66x.
Past Earnings Growth
  • The earnings for companies in the Construction industry have grown 67% per year over the last three years.
  • Revenues for these companies have grown 19% 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 Market1.89%
Industrials2.13%
Construction1.72%
Construction and Engineering1.72%
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 47.643.7%
+NOK 602.8m		-25.8%PE5.3x
NORCO NorconsultNOK 45.302.5%
+NOK 341.3m		5.3%PE19.9x
MORLD MoreldNOK 18.5610.7%
+NOK 319.6m		31.6%PS0.3x
AFG AF GruppenNOK 186.401.4%
+NOK 285.5m		27.3%PE19.6x
VEI VeidekkeNOK 174.601.0%
+NOK 243.5m		23.8%PE17.5x

Latest News

OSUN
NOK 1.64
Ocean Sun
7D
-7.1%
1Y
1.5%
CADLR
NOK 47.64
Cadeler
7D
3.7%
1Y
-25.8%

CADLR: Expanded Next-Generation Fleet Will Drive Future Earnings Power

Analysts have modestly lowered their price target on Cadeler, trimming valuation assumptions in light of a slightly reduced discount rate and future P E expectations, while maintaining their long term growth and margin outlook. This keeps estimated fair value effectively unchanged at around 66.74.
MORLD
NOK 18.56
Moreld
7D
10.7%
1Y
31.6%
AFG
NOK 186.40
AF Gruppen
7D
1.4%
1Y
27.3%

AF Gruppen (OB:AFG) Seems To Use Debt Rather Sparingly

Dec 10
AF Gruppen (OB:AFG) Seems To Use Debt Rather Sparingly
MULTI
NOK 179.50
Multiconsult
7D
2.9%
1Y
-7.0%
IWS
NOK 48.50
Integrated Wind Solutions
7D
6.8%
1Y
5.9%
SNTIA
NOK 61.33
Sentia
7D
1.7%
1Y
n/a
VEI
NOK 174.60
Veidekke
7D
1.0%
1Y
23.8%
NORCO
NOK 45.30
Norconsult
7D
2.5%
1Y
5.3%