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Norwegian (OSEAX) Marine Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies13
  • 7D-7.7%
  • 3M14.0%
  • 1Y37.3%
  • YTDn/a

Over the last 7 days, the Marine industry has dropped 7.2%, driven by declines from every company within the industry. This takes the industry's 12 month performance to a gain of 41%. Looking forward, earnings are forecast to decline by 19% per year.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 16 Mar 2026NOK 154.3bNOK 136.1bNOK 29.5b5.5x5.2x1.1x
Wed, 11 Feb 2026NOK 148.1bNOK 134.0bNOK 29.8b4.9x5x1.1x
Fri, 09 Jan 2026NOK 138.5bNOK 142.3bNOK 31.9b4.4x4.3x1x
Sun, 07 Dec 2025NOK 131.5bNOK 142.5bNOK 31.9b4.2x4.1x0.9x
Tue, 04 Nov 2025NOK 120.3bNOK 142.9bNOK 31.9b4.1x3.8x0.8x
Thu, 02 Oct 2025NOK 128.3bNOK 140.3bNOK 32.3b4.1x4x0.9x
Sat, 30 Aug 2025NOK 130.9bNOK 142.2bNOK 32.8b4.1x4x0.9x
Mon, 28 Jul 2025NOK 137.3bNOK 151.5bNOK 36.4b3.8x3.8x0.9x
Wed, 25 Jun 2025NOK 123.6bNOK 151.8bNOK 36.5b3.4x3.4x0.8x
Fri, 23 May 2025NOK 121.3bNOK 147.8bNOK 34.3b3.3x3.5x0.8x
Sun, 20 Apr 2025NOK 100.2bNOK 151.8bNOK 35.0b2.9x2.9x0.7x
Tue, 18 Mar 2025NOK 116.6bNOK 153.0bNOK 35.0b3.2x3.3x0.8x
Thu, 13 Feb 2025NOK 131.5bNOK 165.6bNOK 36.9b3.3x3.6x0.8x
Sat, 11 Jan 2025NOK 138.4bNOK 169.2bNOK 37.9b3.5x3.7x0.8x
Mon, 09 Dec 2024NOK 140.6bNOK 164.5bNOK 36.8b3.5x3.8x0.9x
Wed, 06 Nov 2024NOK 144.0bNOK 161.6bNOK 35.5b3.7x4.1x0.9x
Fri, 04 Oct 2024NOK 167.5bNOK 155.7bNOK 34.1b4.4x4.9x1.1x
Sun, 01 Sep 2024NOK 156.2bNOK 155.3bNOK 33.9b4.5x4.6x1x
Tue, 30 Jul 2024NOK 164.4bNOK 161.6bNOK 34.5b5.4x4.8x1x
Thu, 27 Jun 2024NOK 169.4bNOK 158.3bNOK 32.8b5.5x5.2x1.1x
Sat, 25 May 2024NOK 170.1bNOK 157.1bNOK 32.8b6.2x5.2x1.1x
Mon, 22 Apr 2024NOK 153.8bNOK 163.2bNOK 33.1b5.9x4.6x0.9x
Wed, 20 Mar 2024NOK 142.4bNOK 156.0bNOK 31.5b5.9x4.5x0.9x
Fri, 16 Feb 2024NOK 157.9bNOK 157.7bNOK 31.8b6.4x5x1x
Sun, 14 Jan 2024NOK 168.0bNOK 179.3bNOK 32.2b7x5.2x0.9x
Tue, 12 Dec 2023NOK 156.1bNOK 189.5bNOK 34.2b5.6x4.6x0.8x
Thu, 09 Nov 2023NOK 158.4bNOK 193.6bNOK 36.7b5.5x4.3x0.8x
Sat, 07 Oct 2023NOK 152.5bNOK 189.6bNOK 33.7b4.4x4.5x0.8x
Mon, 04 Sep 2023NOK 146.2bNOK 187.0bNOK 33.1b4.8x4.4x0.8x
Wed, 02 Aug 2023NOK 138.8bNOK 182.1bNOK 26.6b5.1x5.2x0.8x
Fri, 30 Jun 2023NOK 143.4bNOK 190.8bNOK 28.6b4.5x5x0.8x
Sun, 28 May 2023NOK 137.1bNOK 195.2bNOK 29.6b4.6x4.6x0.7x
Tue, 25 Apr 2023NOK 148.5bNOK 185.2bNOK 28.0b5.2x5.3x0.8x
Thu, 23 Mar 2023NOK 138.3bNOK 182.2bNOK 27.4b5x5x0.8x
Price to Earnings Ratio

5x


Total Market Cap: NOK 138.3bTotal Earnings: NOK 27.4bTotal Revenue: NOK 182.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Marine Industry Price to Earnings3Y Average 4.4x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Marine industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 5.2x which is higher than its 3-year average PE of 4.4x.
  • The 3-year average PS ratio of 0.88x is lower than the industry's current PS ratio of 1.1x.
Past Earnings Growth
  • The earnings for companies in the Marine industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 9.5% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Comparison

How does Norwegian Marine compare with similar industries?

NO Market2.23%
Industrials0.18%
Marine and Shipping-7.74%
Marine-7.74%
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
STST Stainless TankersNOK 37.501.6%
+NOK 8.1m		-30.6%n/a

Latest News

ODF
NOK 118.80
Odfjell
7D
-3.4%
1Y
23.6%

ODF: Higher Future P/E Assumptions Will Support A More Constructive Outlook

The analyst price target for Odfjell has been reduced from about NOK 141 to around NOK 134, as analysts factor in lower revenue growth assumptions, slimmer profit margin expectations, a slightly higher discount rate, and a higher future P/E multiple. Analyst Commentary Recent research updates reflect a more cautious stance on Odfjell, with multiple analysts moving to neutral ratings and setting price targets around or below the current consensus level.
2020
NOK 131.10
2020 Bulkers
7D
-5.3%
1Y
4.6%
STST
NOK 37.50
Stainless Tankers
7D
1.6%
1Y
-30.6%
HSHP
NOK 123.00
Himalaya Shipping
7D
-6.8%
1Y
101.0%
SNI
NOK 316.00
Stolt-Nielsen
7D
-5.4%
1Y
21.5%

SNI: Recent Downgrades And Softer Assumptions Will Pressure Future Return Potential

Narrative Update on Stolt-Nielsen The analyst price target for Stolt-Nielsen has been trimmed slightly from NOK 276.57 to NOK 274.43, as analysts factor in a modestly higher discount rate, slightly softer long term revenue growth and profit margin assumptions, and a lower future P/E multiple following recent broker downgrades. Analyst Commentary Recent Street research has turned more cautious on Stolt-Nielsen, with several bearish analysts shifting their stance and trimming expectations.
WWI
NOK 729.00
Wilh. Wilhelmsen Holding
7D
-1.4%
1Y
84.6%

WWI: Potential Extra Dividend Capacity Will Support Future Upside Potential

Analysts have maintained their NOK 1,102 price target for Wilh. Wilhelmsen Holding.
WAWI
NOK 117.50
Wallenius Wilhelmsen
7D
-12.6%
1Y
25.5%

WAWI: Rich Multiple And Lower Margins Will Outweigh New Contract Wins

Analysts have raised their price target for Wallenius Wilhelmsen from NOK 88.60 to NOK 108.56, citing updated assumptions on discount rates, revenue trends, margins, and a higher future P/E multiple. What's in the News The Board declared a dividend of US$1.01 per share for the second half of 2025, corresponding to 50% of underlying net profit plus an extraordinary element of US$200 million.
KCC
NOK 87.50
Klaveness Combination Carriers
7D
-4.4%
1Y
40.9%

KCC: Long-Term Contract And Dividend Will Support Balanced Future Returns

Analysts have adjusted their price target for Klaveness Combination Carriers from NOK 89.27 to NOK 90.88, citing updated assumptions around discount rates, revenue trends, profit margins, and expected future P/E multiples. What's in the News The Board of Directors declared a cash dividend of US$0.08 per share, totaling about US$4.7 million, for the fourth quarter of 2025.
HAUTO
NOK 123.50
Höegh Autoliners
7D
-7.6%
1Y
47.9%