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Norwegian (OSEAX) Materials Sector Analysis

UpdatedJul 04, 2026
DataAggregated Company Financials
Companies15
  • 7D-1.6%
  • 3M-16.5%
  • 1Y22.7%
  • YTD3.6%

Over the last 7 days, the Materials industry has dropped 2.3%, driven by Norsk Hydro declining 3.1%. In the past year, the industry has gained 22%. Looking forward, earnings are forecast to grow by 12% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026NOK 327.8bNOK 418.1bNOK 20.6b27.7x15.9x0.8x
Tue, 02 Jun 2026NOK 396.8bNOK 407.6bNOK 19.7b25.9x20.1x1x
Thu, 30 Apr 2026NOK 392.0bNOK 416.0bNOK 20.6b19.4x19x0.9x
Sat, 28 Mar 2026NOK 376.4bNOK 419.3bNOK 21.3b14x17.7x0.9x
Mon, 23 Feb 2026NOK 349.7bNOK 415.8bNOK 21.0b22.9x16.7x0.8x
Wed, 21 Jan 2026NOK 332.9bNOK 426.1bNOK 19.7b18.5x16.9x0.8x
Fri, 19 Dec 2025NOK 318.9bNOK 429.3bNOK 19.9b17.8x16.1x0.7x
Sun, 16 Nov 2025NOK 297.6bNOK 427.3bNOK 19.8b16.7x15x0.7x
Tue, 14 Oct 2025NOK 293.9bNOK 422.8bNOK 18.1b21x16.2x0.7x
Thu, 11 Sep 2025NOK 284.4bNOK 420.2bNOK 18.0b21.7x15.8x0.7x
Sat, 09 Aug 2025NOK 284.8bNOK 426.3bNOK 18.5b20.1x15.4x0.7x
Mon, 07 Jul 2025NOK 273.9bNOK 417.0bNOK 15.9b19.9x17.2x0.7x
Wed, 04 Jun 2025NOK 258.4bNOK 417.4bNOK 15.9b19x16.3x0.6x
Fri, 02 May 2025NOK 247.1bNOK 422.0bNOK 16.0b14.6x15.4x0.6x
Sun, 30 Mar 2025NOK 256.6bNOK 408.9bNOK 8.4b15.4x30.5x0.6x
Tue, 25 Feb 2025NOK 274.4bNOK 417.9bNOK 8.4b21.5x32.6x0.7x
Thu, 23 Jan 2025NOK 273.2bNOK 431.2bNOK 9.3b17.2x29.5x0.6x
Sat, 21 Dec 2024NOK 254.9bNOK 432.5bNOK 9.3b17.6x27.4x0.6x
Mon, 18 Nov 2024NOK 277.8bNOK 428.8bNOK 9.1b18.8x30.7x0.6x
Wed, 16 Oct 2024NOK 284.9bNOK 422.3bNOK 4.4b20.2x64.4x0.7x
Fri, 13 Sep 2024NOK 250.7bNOK 421.0bNOK 4.4b19x57x0.6x
Sun, 11 Aug 2024NOK 248.4bNOK 421.8bNOK 4.5b17.9x55.6x0.6x
Tue, 09 Jul 2024NOK 266.0bNOK 426.7bNOK 3.3b12.1x80.5x0.6x
Thu, 06 Jun 2024NOK 272.8bNOK 426.3bNOK 3.3b10.9x82.5x0.6x
Sat, 04 May 2024NOK 277.4bNOK 431.8bNOK 3.3b11.7x83.4x0.6x
Mon, 01 Apr 2024NOK 265.0bNOK 443.9bNOK 6.2b21.7x43x0.6x
Wed, 28 Feb 2024NOK 254.1bNOK 438.5bNOK 6.1b21x41.4x0.6x
Fri, 26 Jan 2024NOK 269.0bNOK 457.4bNOK 16.1b11.3x16.7x0.6x
Sun, 24 Dec 2023NOK 285.6bNOK 453.2bNOK 15.9b10.5x17.9x0.6x
Tue, 21 Nov 2023NOK 279.0bNOK 462.7bNOK 16.2b9.3x17.2x0.6x
Thu, 19 Oct 2023NOK 272.2bNOK 505.8bNOK 31.6b8.8x8.6x0.5x
Sat, 16 Sep 2023NOK 287.7bNOK 498.8bNOK 31.2b9.2x9.2x0.6x
Mon, 14 Aug 2023NOK 291.6bNOK 492.2bNOK 31.2b9.8x9.3x0.6x
Wed, 12 Jul 2023NOK 287.1bNOK 531.4bNOK 51.0b5.7x5.6x0.5x
Price to Earnings Ratio

5.6x


Total Market Cap: NOK 287.1bTotal Earnings: NOK 51.0bTotal Revenue: NOK 531.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Materials Sector Price to Earnings3Y Average 29.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Materials 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 15.9x which is lower than its 3-year average PE of 29.4x.
  • The industry is trading close to its 3-year average PS ratio of 0.67x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 26% per year over the last three years,
  • Revenues have also declined 7.9% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

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

NO Market2.34%
Materials-1.60%
Basic Materials5.20%
Chemicals0.094%
Paper and Forestry Products-0.46%
Packaging-0.57%
Metals and Mining-3.09%
Industry PE
  • Investors are most optimistic about the Basic Materials industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings decline of 4.9%, which is less than its past year's earnings decline of 70.0%.
  • Investors are most pessimistic about the Chemicals industry, which is trading below its 3-year average of 20.2x.
Forecasted Growth
  • Analysts are most optimistic on the Metals and Mining industry, expecting annual earnings growth of 21% over the next 5 years.
  • This is better than its past earnings decline of 37% per year.
  • In contrast, the Basic Materials industry is expected to see its earnings decline by 4.9% 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
BRG BorregaardNOK 153.004.7%
+NOK 679.6m		-24.6%PE27.8x
ELK ElkemNOK 32.022.4%
+NOK 275.5m		34.0%PE35.1x
BCS Bergen Carbon SolutionsNOK 9.3819.0%
+NOK 63.0m		73.7%PB2.9x
BOR BorgestadNOK 17.205.2%
+NOK 29.8m		-2.3%PE66.1x
TEKNA Tekna HoldingNOK 4.041.3%
+NOK 11.4m		-21.4%PS3.6x

Latest News

BCS
NOK 9.38
Bergen Carbon Solutions
7D
19.0%
1Y
73.7%
NHY
NOK 86.20
Norsk Hydro
7D
-3.1%
1Y
46.6%
ELK
NOK 32.02
Elkem
7D
2.4%
1Y
34.0%
YAR
NOK 434.20
Yara International
7D
-0.7%
1Y
15.5%
MVW
NOK 5.55
M Vest Water
7D
-4.3%
1Y
-43.4%
DSRT
NOK 0.80
Desert Control
7D
-38.7%
1Y
-89.2%
BEWI
NOK 17.80
BEWI
7D
-1.4%
1Y
-20.9%
BOR
NOK 17.20
Borgestad
7D
5.2%
1Y
-2.3%
AKOBO
NOK 1.46
Akobo Minerals
7D
2.1%
1Y
37.7%
BRG
NOK 153.00
Borregaard
7D
4.7%
1Y
-24.6%
Narrative Update • Jun 25

BRG: Reset Expectations And Buybacks Will Support Future Earnings Reappraisal

Borregaard's analyst price target has been revised to NOK 174 from NOK 183.80, as analysts factor in slightly lower revenue growth and profit margin assumptions, alongside a modestly reduced future P/E multiple. They view much of the recent "bad news" as already reflected in the stock.
TEKNA
NOK 4.04
Tekna Holding
7D
1.3%
1Y
-21.4%
NOM
NOK 6.80
Nordic Mining
7D
-0.7%
1Y
-71.1%
ELO
NOK 35.00
Elopak
7D
-0.6%
1Y
-27.0%
Narrative Update • Jun 16

ELO: Future Upside Will Rely On Smooth Interim CEO Transition

Analysts have kept their NOK price target for Elopak broadly steady, with only a small adjustment reflecting slightly updated discount rate, revenue growth, profit margin, and future P/E assumptions. What's in the News CFO Bent Kilsund Axelsen has been appointed interim CEO of Elopak ASA, effective May 8, 2026, following the previously announced resignation of CEO Thomas Körmendi.
NSKOG
NOK 42.90
Norske Skog
7D
-0.5%
1Y
94.6%
Narrative Update • Jun 15

NSKOG: Saugbrugs Data Centre Development Will Support Future Upside Potential

Analysts have raised their price target on Norske Skog from NOK 65 to NOK 72, reflecting updated assumptions on fair value, discount rate, revenue growth, profit margin and future P/E levels. What's in the News No recent company specific news, periodical coverage, or key developments were provided for Norske Skog in the available sources.
GEM
NOK 1.24
Green Minerals
7D
13.8%
1Y
-70.0%