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Norwegian (OSEAX) Materials Sector Analysis

UpdatedMay 20, 2026
DataAggregated Company Financials
Companies14
  • 7D-0.5%
  • 3M16.8%
  • 1Y50.8%
  • YTD22.4%

The Materials industry has stayed flat over the last week. As for the the longer term, the industry is up 51% over the past 12 months. Looking forward, earnings are forecast to grow by 9.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 21 May 2026NOK 386.2bNOK 408.0bNOK 19.8b26.5x19.5x0.9x
Sat, 18 Apr 2026NOK 388.8bNOK 411.9bNOK 20.5b20.9x19x0.9x
Mon, 16 Mar 2026NOK 395.0bNOK 419.6bNOK 21.3b19.8x18.5x0.9x
Wed, 11 Feb 2026NOK 358.0bNOK 418.7bNOK 19.4b20.4x18.5x0.9x
Fri, 09 Jan 2026NOK 323.9bNOK 428.1bNOK 19.8b18.6x16.3x0.8x
Sun, 07 Dec 2025NOK 307.0bNOK 428.3bNOK 19.8b17.4x15.5x0.7x
Tue, 04 Nov 2025NOK 290.1bNOK 428.0bNOK 19.8b16.9x14.7x0.7x
Thu, 02 Oct 2025NOK 290.5bNOK 420.1bNOK 18.0b21.7x16.2x0.7x
Sat, 30 Aug 2025NOK 284.3bNOK 422.4bNOK 18.2b21.9x15.7x0.7x
Mon, 28 Jul 2025NOK 287.6bNOK 424.4bNOK 18.4b20.8x15.6x0.7x
Wed, 25 Jun 2025NOK 265.3bNOK 417.4bNOK 15.9b18.8x16.7x0.6x
Fri, 23 May 2025NOK 260.6bNOK 418.0bNOK 15.9b15.4x16.4x0.6x
Sun, 20 Apr 2025NOK 235.5bNOK 409.8bNOK 8.4b14.6x28x0.6x
Tue, 18 Mar 2025NOK 277.4bNOK 409.9bNOK 8.4b15.1x33x0.7x
Thu, 13 Feb 2025NOK 269.4bNOK 428.8bNOK 2.2b23.8x121.5x0.6x
Sat, 11 Jan 2025NOK 263.0bNOK 434.2bNOK 9.4b17.9x28x0.6x
Mon, 09 Dec 2024NOK 272.6bNOK 429.9bNOK 9.1b18.1x29.9x0.6x
Wed, 06 Nov 2024NOK 281.6bNOK 427.7bNOK 9.0b15.3x31.4x0.7x
Fri, 04 Oct 2024NOK 283.0bNOK 419.0bNOK 4.4b19.2x64.8x0.7x
Sun, 01 Sep 2024NOK 257.8bNOK 419.0bNOK 4.4b19.2x59.1x0.6x
Tue, 30 Jul 2024NOK 259.5bNOK 424.8bNOK 4.5b17.6x57.3x0.6x
Thu, 27 Jun 2024NOK 267.4bNOK 427.6bNOK 3.3b11.2x81.1x0.6x
Sat, 25 May 2024NOK 281.1bNOK 426.2bNOK 3.2b12.1x87x0.7x
Mon, 22 Apr 2024NOK 285.7bNOK 444.2bNOK 4.6b16.9x61.8x0.6x
Wed, 20 Mar 2024NOK 260.6bNOK 440.5bNOK 6.1b21.1x42.4x0.6x
Fri, 16 Feb 2024NOK 256.5bNOK 442.6bNOK 6.1b20.8x42.2x0.6x
Sun, 14 Jan 2024NOK 274.9bNOK 454.6bNOK 16.0b10.9x17.2x0.6x
Tue, 12 Dec 2023NOK 269.3bNOK 467.6bNOK 16.4b9.9x16.5x0.6x
Thu, 09 Nov 2023NOK 272.0bNOK 471.3bNOK 16.5b8.9x16.5x0.6x
Sat, 07 Oct 2023NOK 276.2bNOK 502.7bNOK 31.4b8.8x8.8x0.5x
Mon, 04 Sep 2023NOK 278.8bNOK 497.8bNOK 31.2b8.9x8.9x0.6x
Wed, 02 Aug 2023NOK 299.4bNOK 487.8bNOK 31.0b10x9.7x0.6x
Fri, 30 Jun 2023NOK 284.8bNOK 541.6bNOK 51.8b5.6x5.5x0.5x
Sun, 28 May 2023NOK 314.5bNOK 546.2bNOK 56.8b5.5x5.5x0.6x
Price to Earnings Ratio

5.5x


Total Market Cap: NOK 314.5bTotal Earnings: NOK 56.8bTotal Revenue: NOK 546.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Materials Sector Price to Earnings3Y Average 28.8x202420252026
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 19.5x which is lower than its 3-year average PE of 28.8x.
  • The industry is trading close to its 3-year average PS ratio of 0.66x.
Past Earnings Growth
  • The earnings for companies in the Materials industry have declined 30% per year over the last three years,
  • Revenues have also declined 9.3% 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 Market3.21%
Materials-0.46%
Paper and Forestry Products2.85%
Basic Materials0.31%
Metals and Mining0.24%
Chemicals-0.73%
Packaging-11.03%
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 3.9%, which is less than its past year's earnings decline of 66.2%.
  • Investors are most pessimistic about the Paper and Forestry Products industry, which is trading below its 3-year average of 13.8x.
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 Paper and Forestry Products 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
NHY Norsk HydroNOK 107.150.3%
+NOK 687.8m		86.8%PE34.4x
YAR Yara InternationalNOK 528.400.5%
+NOK 611.3m		43.1%PE10.4x
ELK ElkemNOK 29.682.1%
+NOK 210.9m		53.4%PE31.5x
NOM Nordic MiningNOK 10.106.9%
+NOK 81.3m		-51.8%PS139.1x
BRG BorregaardNOK 146.000.6%
+NOK 80.0m		-21.5%PE26.5x

Latest News

NHY
NOK 107.15
Norsk Hydro
7D
0.3%
1Y
86.8%
Narrative Update • May 16

NHY: Extrusion Restructuring And Dividend Policy Will Support Future Upside Re Rating

Analysts have trimmed their fair value estimate for Norsk Hydro to NOK 137.00 from about NOK 138.97. This reflects a mix of higher modeled revenue growth and profit margins, a slightly lower assumed future P/E, and recent mixed rating and price target changes across Citi, Goldman Sachs, JPMorgan, Morgan Stanley, Danske Bank, and others.
ELK
NOK 29.68
Elkem
7D
2.1%
1Y
53.4%
Narrative Update • May 15

ELK: Equity Raise And Biocarbon Project Will Support Future Upside

Elkem's updated analyst price target has shifted from NOK 33.29 to NOK 31.34, reflecting analysts' refreshed assumptions around revenue growth, profit margins, the discount rate, and future P/E expectations. What's in the News Elkem has filed a follow on equity offering of NOK 299.999997 million, offering 11,111,111 ordinary shares at NOK 27 per share through a rights offering (Key Developments).
DSRT
NOK 1.25
Desert Control
7D
30.3%
1Y
-79.4%
YAR
NOK 528.40
Yara International
7D
0.5%
1Y
43.1%
NOM
NOK 10.10
Nordic Mining
7D
6.9%
1Y
-51.8%
ABTEC
NOK 4.89
Aqua Bio Technology
7D
-1.0%
1Y
-95.1%
BCS
NOK 3.39
Bergen Carbon Solutions
7D
-1.7%
1Y
4.0%
ELO
NOK 34.55
Elopak
7D
-9.6%
1Y
-18.3%
NSKOG
NOK 45.15
Norske Skog
7D
1.6%
1Y
85.8%
Analysis Article • May 03

Norske Skog's (OB:NSKOG) Shareholders May Want To Dig Deeper Than Statutory Profit

Norske Skog ASA ( OB:NSKOG ) just released a solid earnings report, and the stock displayed some strength. Despite...
BRG
NOK 146.00
Borregaard
7D
0.6%
1Y
-21.5%
TEKNA
NOK 3.80
Tekna Holding
7D
2.4%
1Y
-31.2%