Olav Thon Eiendomsselskap's (OB:OLT) Earnings Are Of Questionable Quality
Feb 22
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Norwegian (OSEAX) Real Estate Sector Analysis
UpdatedMar 18, 2025
DataAggregated Company Financials
Companies10
- 7D1.0%
- 3M8.4%
- 1Y15.8%
- YTD6.5%
Over the last 7 days, the Real Estate industry has remained flat. As for the the longer term, the industry is up 15% over the past 12 months. Earnings are forecast to grow by 18% annually.
Sector Valuation and Performance
Has the Norwegian Real Estate Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Tue, 18 Mar 2025 | NOK 81.9b | NOK 15.2b | NOK 3.4b | 15.9x | 24.2x | 5.4x |
| Thu, 13 Feb 2025 | NOK 78.5b | NOK 15.0b | -NOK 3,863,804,735.96 | 14.5x | -20.3x | 5.2x |
| Sat, 11 Jan 2025 | NOK 75.8b | NOK 15.0b | -NOK 3,863,850,641.32 | 14.1x | -19.6x | 5.1x |
| Mon, 09 Dec 2024 | NOK 78.4b | NOK 15.2b | -NOK 3,583,173,181.90 | 13.8x | -21.9x | 5.2x |
| Wed, 06 Nov 2024 | NOK 78.8b | NOK 15.3b | -NOK 4,553,650,399.29 | 31.5x | -17.3x | 5.2x |
| Fri, 04 Oct 2024 | NOK 82.3b | NOK 15.4b | -NOK 6,960,136,859.26 | 37.3x | -11.8x | 5.3x |
| Sun, 01 Sep 2024 | NOK 81.0b | NOK 15.0b | -NOK 7,064,527,488.29 | 34.2x | -11.5x | 5.4x |
| Tue, 30 Jul 2024 | NOK 79.8b | NOK 15.5b | -NOK 6,956,059,414.11 | 27.1x | -11.5x | 5.2x |
| Thu, 27 Jun 2024 | NOK 75.4b | NOK 15.4b | -NOK 8,141,400,569.84 | 15.2x | -9.3x | 4.9x |
| Sat, 25 May 2024 | NOK 76.1b | NOK 15.3b | -NOK 8,139,202,062.57 | 36.8x | -9.4x | 5x |
| Mon, 22 Apr 2024 | NOK 71.1b | NOK 14.5b | -NOK 6,981,417,641.59 | 29.7x | -10.2x | 4.9x |
| Wed, 20 Mar 2024 | NOK 70.4b | NOK 14.5b | -NOK 7,039,920,654.79 | 29.7x | -10x | 4.9x |
| Fri, 16 Feb 2024 | NOK 68.4b | NOK 14.8b | -NOK 5,546,976,285.35 | 16x | -12.3x | 4.6x |
| Sun, 14 Jan 2024 | NOK 70.4b | NOK 14.8b | -NOK 3,203,945,760.00 | 16.3x | -22x | 4.8x |
| Tue, 12 Dec 2023 | NOK 62.7b | NOK 14.6b | -NOK 3,384,073,486.00 | 14.2x | -18.5x | 4.3x |
| Thu, 09 Nov 2023 | NOK 57.0b | NOK 15.8b | -NOK 2,172,695,861.00 | 10.3x | -26.2x | 3.6x |
| Sat, 07 Oct 2023 | NOK 57.7b | NOK 15.7b | -NOK 3,225,446,638.00 | 12.2x | -17.9x | 3.7x |
| Mon, 04 Sep 2023 | NOK 61.3b | NOK 16.4b | -NOK 2,900,784,922.00 | 12x | -21.1x | 3.7x |
| Wed, 02 Aug 2023 | NOK 61.9b | NOK 16.2b | -NOK 1,690,478,966.00 | 11.1x | -36.6x | 3.8x |
| Fri, 30 Jun 2023 | NOK 60.4b | NOK 16.1b | -NOK 690,192,518.00 | 11.1x | -87.5x | 3.7x |
| Sun, 28 May 2023 | NOK 62.6b | NOK 15.9b | -NOK 712,416,829.00 | 11.4x | -87.8x | 3.9x |
| Tue, 25 Apr 2023 | NOK 64.1b | NOK 16.3b | NOK 4.4b | 8.4x | 14.7x | 3.9x |
| Thu, 23 Mar 2023 | NOK 62.4b | NOK 16.2b | NOK 4.9b | 8.4x | 12.6x | 3.9x |
| Sat, 18 Feb 2023 | NOK 66.4b | NOK 14.6b | NOK 7.6b | 7.2x | 8.7x | 4.6x |
| Mon, 16 Jan 2023 | NOK 66.2b | NOK 16.6b | NOK 10.7b | 6.6x | 6.2x | 4x |
| Wed, 14 Dec 2022 | NOK 64.4b | NOK 14.2b | NOK 10.7b | 6.6x | 6x | 4.5x |
| Fri, 11 Nov 2022 | NOK 64.9b | NOK 15.2b | NOK 10.5b | 6.8x | 6.2x | 4.3x |
| Sun, 09 Oct 2022 | NOK 60.7b | NOK 15.0b | NOK 15.0b | 5.4x | 4.1x | 4x |
| Tue, 06 Sep 2022 | NOK 70.7b | NOK 14.3b | NOK 15.0b | 6.3x | 4.7x | 4.9x |
| Thu, 04 Aug 2022 | NOK 72.9b | NOK 13.4b | NOK 14.1b | 6.3x | 5.2x | 5.4x |
| Sat, 02 Jul 2022 | NOK 69.7b | NOK 13.2b | NOK 15.2b | 6.5x | 4.6x | 5.3x |
| Mon, 30 May 2022 | NOK 77.7b | NOK 13.1b | NOK 15.2b | 7.1x | 5.1x | 5.9x |
| Wed, 27 Apr 2022 | NOK 81.8b | NOK 12.9b | NOK 13.6b | 9x | 6x | 6.4x |
| Fri, 25 Mar 2022 | NOK 89.3b | NOK 14.7b | NOK 12.9b | 8.3x | 6.9x | 6.1x |
Price to Earnings Ratio
6.9x
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 24.0x which is higher than its 3-year average PE of -9.1x.
- The 3-year average PS ratio of 4.7x is lower than the industry's current PS ratio of 5.4x.
Past Earnings Growth
- The earnings for companies in the Real Estate industry have declined 36% per year over the last three years.
- Meanwhile revenues have remained mostly flat.
- This means that although sales have remained flat, either the cost of doing business or the level of investment back into businesses has increased, which has decreased profits.
Industry Trends
Which industries have driven the changes within the Norwegian Real Estate sector?
| NO Market | 2.54% | |
| Real Estate | 0.96% | |
| Real Estate | 0.96% | |
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 18.3%, which is lower than the prior year's growth of 76.1% 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 18% over the next 5 years.
- However this is lower than its past earnings growth rate of 76% per year.
- In contrast, the Real Estate industry is expected to see its earnings grow by 18% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| OLT Olav Thon Eiendomsselskap | NOK 261.00 | 2.8% +NOK 710.4m | 23.7% | PE11.8x | |
| ENTRA Entra | NOK 111.40 | 0.7% +NOK 145.7m | 3.1% | PS6.6x | |
| ROM RomReal | NOK 2.54 | 8.5% +NOK 8.3m | 25.7% | PS4.7x | |
| KMCP KMC Properties | NOK 0.082 | 11.1% +NOK 3.4m | -98.9% | PE1.3x |