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Norwegian (OSEAX) Materials Sector Analysis

UpdatedNov 14, 2025
DataAggregated Company Financials
Companies16
  • 7D3.8%
  • 3M2.3%
  • 1Y7.0%
  • YTD13.8%

The Materials industry is up 3.8% in the last week, with Norsk Hydro up 4.2%. In the last 12 months, the industry was up 7.0%. As for the next few years, earnings are expected to grow by 9.8% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 15 Nov 2025NOK 302.9bNOK 425.7bNOK 19.7b17.1x15.4x0.7x
Mon, 13 Oct 2025NOK 290.9bNOK 423.4bNOK 18.1b21.1x16x0.7x
Wed, 10 Sep 2025NOK 287.1bNOK 421.3bNOK 18.1b21.6x15.9x0.7x
Fri, 08 Aug 2025NOK 282.0bNOK 425.3bNOK 18.5b20x15.3x0.7x
Sun, 06 Jul 2025NOK 273.9bNOK 417.0bNOK 15.9b19.9x17.2x0.7x
Tue, 03 Jun 2025NOK 261.2bNOK 416.2bNOK 15.9b18.9x16.5x0.6x
Thu, 01 May 2025NOK 247.1bNOK 412.0bNOK 12.0b17.3x20.7x0.6x
Sat, 29 Mar 2025NOK 256.6bNOK 408.9bNOK 8.4b15.4x30.5x0.6x
Mon, 24 Feb 2025NOK 273.5bNOK 418.5bNOK 8.4b21.1x32.5x0.7x
Wed, 22 Jan 2025NOK 273.2bNOK 431.8bNOK 9.3b17.3x29.4x0.6x
Fri, 20 Dec 2024NOK 254.9bNOK 434.2bNOK 9.4b16.7x27.2x0.6x
Sun, 17 Nov 2024NOK 277.8bNOK 428.8bNOK 9.1b18.8x30.7x0.6x
Tue, 15 Oct 2024NOK 291.2bNOK 420.2bNOK 4.4b19.9x66.4x0.7x
Thu, 12 Sep 2024NOK 247.8bNOK 423.0bNOK 4.4b19x55.9x0.6x
Sat, 10 Aug 2024NOK 245.9bNOK 422.5bNOK 4.5b17.8x54.8x0.6x
Mon, 08 Jul 2024NOK 268.3bNOK 425.6bNOK 3.3b12x81.2x0.6x
Wed, 05 Jun 2024NOK 281.0bNOK 426.1bNOK 3.3b11.1x85x0.7x
Fri, 03 May 2024NOK 272.9bNOK 433.8bNOK 3.3b11.4x82.2x0.6x
Sun, 31 Mar 2024NOK 265.0bNOK 443.9bNOK 6.2b21.7x43x0.6x
Tue, 27 Feb 2024NOK 255.1bNOK 438.2bNOK 6.1b21x41.6x0.6x
Thu, 25 Jan 2024NOK 270.3bNOK 458.1bNOK 16.1b11.3x16.8x0.6x
Sat, 23 Dec 2023NOK 285.6bNOK 453.3bNOK 15.9b10.5x17.9x0.6x
Mon, 20 Nov 2023NOK 279.7bNOK 464.8bNOK 16.3b9.3x17.2x0.6x
Wed, 18 Oct 2023NOK 278.7bNOK 503.5bNOK 31.5b8.8x8.9x0.6x
Fri, 15 Sep 2023NOK 287.7bNOK 498.8bNOK 31.2b9.2x9.2x0.6x
Sun, 13 Aug 2023NOK 291.6bNOK 492.2bNOK 31.2b9.8x9.3x0.6x
Tue, 11 Jul 2023NOK 285.8bNOK 534.8bNOK 51.3b5.7x5.6x0.5x
Thu, 08 Jun 2023NOK 312.2bNOK 545.1bNOK 56.7b5.4x5.5x0.6x
Sat, 06 May 2023NOK 325.0bNOK 533.7bNOK 56.0b6.2x5.8x0.6x
Mon, 03 Apr 2023NOK 343.7bNOK 549.8bNOK 66.3b6.2x5.2x0.6x
Wed, 01 Mar 2023NOK 352.7bNOK 546.1bNOK 66.0b4.6x5.3x0.6x
Fri, 27 Jan 2023NOK 347.2bNOK 533.2bNOK 65.3b5.6x5.3x0.7x
Sun, 25 Dec 2022NOK 328.6bNOK 532.0bNOK 65.2b5.4x5x0.6x
Tue, 22 Nov 2022NOK 327.5bNOK 542.0bNOK 66.1b5.5x5x0.6x
Price to Earnings Ratio

5x


Total Market Cap: NOK 327.5bTotal Earnings: NOK 66.1bTotal Revenue: NOK 542.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Materials Sector Price to Earnings3Y Average 26.7x202320242025
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 15.4x which is lower than its 3-year average PE of 26.7x.
  • The industry is trading close to its 3-year average PS ratio of 0.62x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 33% per year over the last three years,
  • Revenues have also declined 7.7% 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 Market0.65%
Materials3.77%
Metals and Mining4.20%
Chemicals3.76%
Paper and Forestry Products1.66%
Basic Materials-0.28%
Packaging-0.76%
Industry PE
  • Investors are most optimistic about the Basic Materials industry which is trading above its 3-year average PE ratio of 8.1x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Paper and Forestry Products industry, which is trading below its 3-year average of 12.6x.
Forecasted Growth
  • Analysts are most optimistic on the Packaging industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 22% per year.
  • In contrast, the Paper and Forestry Products industry is expected to see its earnings decline by 21% 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
NHY Norsk HydroNOK 72.804.2%
+NOK 5.8b		3.1%PE13.1x
YAR Yara InternationalNOK 373.204.6%
+NOK 4.2b		16.8%PE12.8x
ELK ElkemNOK 26.443.8%
+NOK 608.9m		46.3%PE34.6x
BRG BorregaardNOK 186.401.6%
+NOK 299.2m		1.6%PE22.4x
NOM Nordic MiningNOK 14.949.1%
+NOK 134.4m		-40.4%PS446.9x

Latest News

NHY
NOK 72.80
Norsk Hydro
7D
4.2%
1Y
3.1%

Subdued Growth No Barrier To Norsk Hydro ASA's (OB:NHY) Price

Nov 15
Subdued Growth No Barrier To Norsk Hydro ASA's (OB:NHY) Price
RANA
NOK 64.50
Rana Gruber
7D
0.8%
1Y
-13.0%

Rana Gruber ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Nov 15
Rana Gruber ASA Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
BEWI
NOK 16.10
BEWI
7D
-2.1%
1Y
-37.6%
TEKNA
NOK 3.42
Tekna Holding
7D
-17.6%
1Y
-2.3%
ELK
NOK 26.44
Elkem
7D
3.8%
1Y
46.3%

ELK: Upcoming Medical Material Launch Will Support Increased Market Confidence

Narrative Update on Elkem: Analyst Price Target Revision Analysts have maintained their fair value estimate for Elkem at NOK 29.80. This reflects steady confidence in the company despite minor adjustments to key assumptions such as profit margin and growth projections.
ELO
NOK 45.95
Elopak
7D
-0.8%
1Y
5.6%

ELO: Index Inclusion and Share Buybacks Are Poised To Drive Momentum

Elopak's analyst price target has seen a slight decrease, from NOK 52.84 to NOK 52.82, as analysts adjust their models to reflect modest changes in revenue growth estimates and minor shifts in profit margin expectations. What's in the News Elopak ASA (OB:ELO) has been added to the S&P Global BMI Index.
YAR
NOK 373.20
Yara International
7D
4.6%
1Y
16.8%

YAR: Future Margins And Cost Control Will Shape Near-Term Outlook

Yara International’s analyst price target has increased modestly from NOK 370.35 to NOK 380.17. Analysts are factoring in improved profit margins and a lower future price-to-earnings ratio, despite tempered revenue growth expectations.
NSKOG
NOK 14.74
Norske Skog
7D
1.7%
1Y
-32.7%

NSKOG: Rising Profit Margins Will Drive Improved Earnings Outlook

Analysts have updated their price target for Norske Skog to NOK 30.00 and have maintained the previous target. They cited a notable improvement in expected profit margin and a lower forward price-to-earnings ratio, despite a moderation in projected revenue growth.
AKOBO
NOK 1.94
Akobo Minerals
7D
-0.8%
1Y
0.3%
BOR
NOK 17.65
Borgestad
7D
-0.3%
1Y
-3.6%

We Think You Can Look Beyond Borgestad's (OB:BOR) Lackluster Earnings

Nov 07
We Think You Can Look Beyond Borgestad's (OB:BOR) Lackluster Earnings
BRG
NOK 186.40
Borregaard
7D
1.6%
1Y
1.6%

BRG: Rising Bio-Based Support Will Drive Long-Term Upside Momentum

Analysts have revised Borregaard’s fair value target slightly downwards, from NOK 214.75 to NOK 212.50. They cite updated projections for profit margins and market conditions as influencing factors.
DSRT
NOK 2.22
Desert Control
7D
-1.3%
1Y
-65.2%
ABTEC
NOK 0.49
Aqua Bio Technology
7D
-5.1%
1Y
-80.3%

Aqua Bio Technology ASA (OB:ABTEC) Might Not Be As Mispriced As It Looks After Plunging 29%

Sep 24
Aqua Bio Technology ASA (OB:ABTEC) Might Not Be As Mispriced As It Looks After Plunging 29%
NOM
NOK 14.94
Nordic Mining
7D
9.1%
1Y
-40.4%
BCS
NOK 4.29
Bergen Carbon Solutions
7D
-2.5%
1Y
12.6%
GEM
NOK 1.97
Green Minerals
7D
3.1%
1Y
-69.7%