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Norwegian (OSEAX) Materials Sector Analysis

UpdatedFeb 17, 2026
DataAggregated Company Financials
Companies15
  • 7D-4.4%
  • 3M17.8%
  • 1Y22.0%
  • YTD4.0%

Over the last 7 days, the Materials industry has dropped 2.1%, driven by a pullback from Norsk Hydro of 5.7%. Over the past 12 months, the industry was up 25%. Looking forward, earnings are forecast to grow by 15% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 17 Feb 2026NOK 340.2bNOK 415.7bNOK 21.0b22.5x16.2x0.8x
Thu, 15 Jan 2026NOK 339.9bNOK 427.2bNOK 19.8b18.7x17.2x0.8x
Sat, 13 Dec 2025NOK 313.0bNOK 429.2bNOK 19.9b17.4x15.8x0.7x
Mon, 10 Nov 2025NOK 286.9bNOK 428.7bNOK 19.8b16.5x14.5x0.7x
Wed, 08 Oct 2025NOK 289.9bNOK 420.9bNOK 18.0b21.3x16.1x0.7x
Fri, 05 Sep 2025NOK 282.2bNOK 422.9bNOK 18.2b21.8x15.5x0.7x
Sun, 03 Aug 2025NOK 281.6bNOK 425.7bNOK 18.5b20.2x15.2x0.7x
Tue, 01 Jul 2025NOK 269.6bNOK 417.0bNOK 15.9b19.9x16.9x0.6x
Thu, 29 May 2025NOK 263.2bNOK 417.7bNOK 15.9b19x16.6x0.6x
Sat, 26 Apr 2025NOK 251.1bNOK 409.3bNOK 9.1b17.4x27.6x0.6x
Mon, 24 Mar 2025NOK 271.6bNOK 409.6bNOK 8.4b15.2x32.3x0.7x
Wed, 19 Feb 2025NOK 274.9bNOK 418.5bNOK 8.4b20.6x32.7x0.7x
Fri, 17 Jan 2025NOK 271.8bNOK 432.4bNOK 9.3b17.6x29.2x0.6x
Sun, 15 Dec 2024NOK 267.8bNOK 429.5bNOK 9.1b17.8x29.4x0.6x
Tue, 12 Nov 2024NOK 272.8bNOK 428.1bNOK 9.0b15.6x30.3x0.6x
Thu, 10 Oct 2024NOK 283.7bNOK 421.6bNOK 4.4b20.3x64.3x0.7x
Sat, 07 Sep 2024NOK 243.0bNOK 420.9bNOK 4.4b18.7x55.2x0.6x
Mon, 05 Aug 2024NOK 250.2bNOK 424.1bNOK 4.5b17.4x55.4x0.6x
Wed, 03 Jul 2024NOK 269.5bNOK 427.6bNOK 3.3b11.5x81.6x0.6x
Fri, 31 May 2024NOK 282.6bNOK 425.3bNOK 3.3b11.5x85.5x0.7x
Sun, 28 Apr 2024NOK 279.2bNOK 434.2bNOK 3.3b11.3x84.1x0.6x
Tue, 26 Mar 2024NOK 264.5bNOK 441.6bNOK 6.2b21.2x43x0.6x
Thu, 22 Feb 2024NOK 256.5bNOK 437.7bNOK 6.1b20.8x42.1x0.6x
Sat, 20 Jan 2024NOK 262.0bNOK 458.4bNOK 16.1b10.8x16.3x0.6x
Mon, 18 Dec 2023NOK 281.6bNOK 457.8bNOK 16.1b9.8x17.5x0.6x
Wed, 15 Nov 2023NOK 273.2bNOK 466.1bNOK 16.3b9.2x16.8x0.6x
Fri, 13 Oct 2023NOK 280.2bNOK 503.8bNOK 31.5b8.8x8.9x0.6x
Sun, 10 Sep 2023NOK 278.3bNOK 497.9bNOK 31.2b8.9x8.9x0.6x
Tue, 08 Aug 2023NOK 294.3bNOK 486.5bNOK 30.9b9.9x9.5x0.6x
Thu, 06 Jul 2023NOK 288.1bNOK 538.7bNOK 51.6b5.7x5.6x0.5x
Sat, 03 Jun 2023NOK 314.6bNOK 544.9bNOK 56.7b5.5x5.5x0.6x
Mon, 01 May 2023NOK 337.6bNOK 535.1bNOK 56.1b6.2x6x0.6x
Wed, 29 Mar 2023NOK 333.8bNOK 546.9bNOK 66.0b6.1x5.1x0.6x
Fri, 24 Feb 2023NOK 353.6bNOK 545.9bNOK 66.0b4.7x5.4x0.6x
Price to Earnings Ratio

5.4x


Total Market Cap: NOK 353.6bTotal Earnings: NOK 66.0bTotal Revenue: NOK 545.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Materials Sector Price to Earnings3Y Average 27.7x202420252026
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 16.4x which is lower than its 3-year average PE of 27.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.63x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 32% per year over the last three years,
  • Revenues have also declined 8.3% 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 Market0.32%
Materials-4.38%
Packaging4.18%
Basic Materials-1.10%
Paper and Forestry Products-2.72%
Chemicals-3.81%
Metals and Mining-5.56%
Industry PE
  • Investors are most optimistic about the Basic Materials industry which is trading above its 3-year average PE ratio of 13.0x.
    • Analysts are expecting annual earnings growth of 69.4%, which is higher than its past year's earnings decline of 55.1% per year.
  • Investors are most pessimistic about the Paper and Forestry Products industry, which is trading below its 3-year average of 13.3x.
Forecasted Growth
  • Analysts are most optimistic on the Basic Materials industry, expecting annual earnings growth of 69% over the next 5 years.
  • This is better than its past earnings decline of 55% per year.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings decline by 70% 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
ELO ElopakNOK 52.304.2%
+NOK 564.1m		27.1%PE20.3x
NOM Nordic MiningNOK 11.08-4.6%
NOK 19.6m		-51.3%PS290.3x
BCS Bergen Carbon SolutionsNOK 3.992.8%
+NOK 4.6m		20.5%PB1.1x

Latest News

TEKNA
NOK 3.84
Tekna Holding
7D
-4.0%
1Y
-32.9%
BEWI
NOK 16.00
BEWI
7D
-4.0%
1Y
-43.3%
NHY
NOK 84.44
Norsk Hydro
7D
-5.7%
1Y
25.1%
ELO
NOK 52.30
Elopak
7D
4.2%
1Y
27.1%

Analysts Have Made A Financial Statement On Elopak ASA's (OB:ELO) Annual Report

Feb 13
Analysts Have Made A Financial Statement On Elopak ASA's (OB:ELO) Annual Report
YAR
NOK 446.00
Yara International
7D
-3.4%
1Y
36.3%
NOM
NOK 11.08
Nordic Mining
7D
-4.6%
1Y
-51.3%
DSRT
NOK 1.52
Desert Control
7D
-16.3%
1Y
-70.9%
NSKOG
NOK 21.45
Norske Skog
7D
-2.7%
1Y
-6.7%
ELK
NOK 26.86
Elkem
7D
-9.6%
1Y
15.9%

ELK: Safety Reforms After Saint Fons Incident Will Support Upbeat Outlook

Narrative Update on Elkem Analysts have kept their fair value estimate for Elkem steady at NOK 31.85. They explain the unchanged price target by slightly adjusting their assumptions for discount rate, revenue growth, profit margin and future P/E expectations, rather than changing their overall view of the company’s valuation.
BCS
NOK 3.99
Bergen Carbon Solutions
7D
2.8%
1Y
20.5%
AKOBO
NOK 2.08
Akobo Minerals
7D
-8.4%
1Y
4.0%