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Norwegian (OSEAX) Real Estate Sector Analysis

UpdatedJan 19, 2026
DataAggregated Company Financials
Companies8
  • 7D0.8%
  • 3M9.2%
  • 1Y30.6%
  • YTD1.3%

The Real Estate industry has been flat over the last week, but Selvaag Bolig has lost 3.2%. As for the the longer term, the industry is up 30% over the past 12 months. As for the next few years, earnings are expected to grow by 3.0% per annum.

Sector Valuation and Performance

Has the Norwegian Real Estate Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 19 Jan 2026NOK 103.0bNOK 14.5bNOK 6.2b16.7x16.7x7.1x
Wed, 17 Dec 2025NOK 99.0bNOK 14.5bNOK 6.2b15.8x16.1x6.8x
Fri, 14 Nov 2025NOK 93.4bNOK 14.0bNOK 5.8b14.7x16.1x6.7x
Sun, 12 Oct 2025NOK 88.9bNOK 13.6bNOK 5.6b17.2x16x6.6x
Tue, 09 Sep 2025NOK 89.5bNOK 13.4bNOK 5.5b18x16.3x6.7x
Thu, 07 Aug 2025NOK 96.1bNOK 14.6bNOK 6.5b16.2x14.7x6.6x
Sat, 05 Jul 2025NOK 93.7bNOK 14.5bNOK 5.8b18.8x16.1x6.5x
Mon, 02 Jun 2025NOK 85.7bNOK 14.5bNOK 5.8b16.9x14.7x5.9x
Wed, 30 Apr 2025NOK 82.9bNOK 14.9bNOK 5.4b18.4x15.4x5.6x
Fri, 28 Mar 2025NOK 82.4bNOK 15.2bNOK 3.4b16x24.2x5.4x
Sun, 23 Feb 2025NOK 81.6bNOK 15.2bNOK 3.4b16.8x24x5.4x
Tue, 21 Jan 2025NOK 75.5bNOK 15.0b-NOK 3,863,860,389.6713.8x-19.5x5x
Thu, 19 Dec 2024NOK 75.5bNOK 15.0b-NOK 3,863,863,298.2013.5x-19.5x5x
Sat, 16 Nov 2024NOK 74.7bNOK 15.2b-NOK 3,598,309,929.4517.3x-20.8x4.9x
Mon, 14 Oct 2024NOK 82.0bNOK 15.4b-NOK 6,960,139,383.8135.6x-11.8x5.3x
Wed, 11 Sep 2024NOK 81.3bNOK 15.4b-NOK 6,960,020,772.5735.8x-11.7x5.3x
Fri, 09 Aug 2024NOK 80.0bNOK 15.5b-NOK 6,956,108,787.8527.3x-11.5x5.2x
Sun, 07 Jul 2024NOK 77.8bNOK 15.4b-NOK 8,141,385,597.6415.2x-9.6x5.1x
Tue, 04 Jun 2024NOK 76.1bNOK 15.4b-NOK 8,151,969,433.6336.8x-9.3x5x
Thu, 02 May 2024NOK 75.0bNOK 15.0b-NOK 8,623,311,592.7832.3x-8.7x5x
Sat, 30 Mar 2024NOK 72.2bNOK 14.5b-NOK 7,039,911,118.6829.7x-10.3x5x
Mon, 26 Feb 2024NOK 69.1bNOK 14.7b-NOK 7,039,930,424.2030.9x-9.8x4.7x
Wed, 24 Jan 2024NOK 69.7bNOK 14.8b-NOK 3,204,002,575.0015.8x-21.8x4.7x
Fri, 22 Dec 2023NOK 64.7bNOK 14.8b-NOK 3,203,963,156.0015.4x-20.2x4.4x
Sun, 19 Nov 2023NOK 58.7bNOK 15.4b-NOK 2,888,911,244.0012x-20.3x3.8x
Tue, 17 Oct 2023NOK 56.9bNOK 15.7b-NOK 3,225,439,188.0012.4x-17.6x3.6x
Thu, 14 Sep 2023NOK 59.6bNOK 15.8b-NOK 3,047,184,594.0011.8x-19.6x3.8x
Sat, 12 Aug 2023NOK 61.0bNOK 16.1b-NOK 1,880,813,713.0012.6x-32.5x3.8x
Mon, 10 Jul 2023NOK 61.1bNOK 16.1b-NOK 690,072,543.0011.1x-88.5x3.8x
Wed, 07 Jun 2023NOK 61.8bNOK 16.1b-NOK 690,345,791.0010.6x-89.5x3.8x
Fri, 05 May 2023NOK 63.0bNOK 16.3bNOK 1.7b8.1x38.1x3.9x
Sun, 02 Apr 2023NOK 63.6bNOK 16.2bNOK 4.6b8x13.7x3.9x
Tue, 28 Feb 2023NOK 66.1bNOK 16.1bNOK 7.5b9x8.8x4.1x
Thu, 26 Jan 2023NOK 65.9bNOK 16.6bNOK 10.7b6.6x6.1x4x
Price to Earnings Ratio

6.1x


Total Market Cap: NOK 65.9bTotal Earnings: NOK 10.7bTotal Revenue: NOK 16.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Real Estate Sector Price to Earnings3Y Average -6x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Real Estate 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 16.7x which is higher than its 3-year average PE of -6.0x.
  • The 3-year average PS ratio of 5.0x is lower than the industry's current PS ratio of 7.1x.
Past Earnings Growth
  • The earnings for companies in the Real Estate industry have declined 17% per year over the last three years,
  • Revenues have also declined 4.5% 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 Real Estate sector?

NO Market3.01%
Real Estate0.76%
Real Estate0.76%
Industry PE
  • Investors are most optimistic about the Real Estate industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 3.0%, which is lower than the prior year's growth of 673.8% per year.
  • Investors are most pessimistic about the Real Estate industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate industry, expecting annual earnings growth of 3.0% over the next 5 years.
  • In contrast, the Real Estate industry is expected to see its earnings grow by 3.0% 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
ENTRA EntraNOK 114.602.7%
+NOK 546.4m		1.1%PE15x
PUBLI Public Property InvestNOK 23.752.4%
+NOK 316.5m		37.7%PE21x
BALT Baltic Sea PropertiesNOK 49.402.9%
+NOK 12.2m		0.8%PE8x
KMCP KMC PropertiesNOK 5.950.7%
+NOK 225.5k		11.8%PE0.04x

Latest News

ROM
NOK 2.50
RomReal
7D
-0.8%
1Y
-16.7%
BALT
NOK 49.40
Baltic Sea Properties
7D
2.9%
1Y
0.8%
PUBLI
NOK 23.75
Public Property Invest
7D
2.4%
1Y
37.7%
ENTRA
NOK 114.60
Entra
7D
2.7%
1Y
1.1%

ENTRA: Recent Upgrade And New Leases Are Expected To Support Stability

Analysts have slightly increased their fair value estimate for Entra to NOK 119.00 from NOK 118.75, citing fresh Street research that includes a new Buy rating and a NOK 140 price target from the sell side. Analyst Commentary Recent research has turned more constructive on Entra, with bullish analysts lifting their stance and setting a NOK 140 price target, compared with the latest fair value estimate of NOK 119.00.
KMCP
NOK 5.95
KMC Properties
7D
0.7%
1Y
11.8%
SBO
NOK 34.35
Selvaag Bolig
7D
-2.8%
1Y
-3.0%