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Norwegian (OSEAX) Telecom Sector Analysis

UpdatedSep 02, 2026
DataAggregated Company Financials
Companies6
  • 7D-1.2%
  • 3M-7.2%
  • 1Y-21.3%
  • YTD-7.4%

Over the last 7 days, the Telecom industry has risen 2.5%, driven by gains from Telenor of 2.5%. During this same period, the 5th Planet Games underperformed, falling 15%. In the past year, the industry is down 21%. Looking forward, earnings are forecast to grow by 19% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 02 Sep 2026NOK 239.1bNOK 85.1bNOK 7.6b149.4x31.3x2.8x
Fri, 31 Jul 2026NOK 236.6bNOK 85.1bNOK 7.7b164.5x30.9x2.8x
Sun, 28 Jun 2026NOK 250.0bNOK 86.1bNOK 12.9b159.2x19.4x2.9x
Tue, 26 May 2026NOK 264.9bNOK 86.1bNOK 12.9b180.1x20.6x3.1x
Thu, 23 Apr 2026NOK 280.8bNOK 86.3bNOK 10.3b207.6x27.3x3.3x
Sat, 21 Mar 2026NOK 281.4bNOK 86.5bNOK 10.2b96.1x27.5x3.3x
Mon, 16 Feb 2026NOK 296.6bNOK 86.5bNOK 10.2b61.2x29x3.4x
Wed, 14 Jan 2026NOK 260.1bNOK 92.7bNOK 11.6b42.9x22.4x2.8x
Fri, 12 Dec 2025NOK 261.2bNOK 92.7bNOK 11.6b43.9x22.5x2.8x
Sun, 09 Nov 2025NOK 276.7bNOK 92.7bNOK 11.7b37.6x23.6x3x
Tue, 07 Oct 2025NOK 301.8bNOK 92.5bNOK 17.5b25x17.2x3.3x
Thu, 04 Sep 2025NOK 306.4bNOK 92.5bNOK 17.5b26.8x17.5x3.3x
Sat, 02 Aug 2025NOK 307.2bNOK 92.5bNOK 18.1b11.9x17x3.3x
Mon, 30 Jun 2025NOK 292.7bNOK 92.2bNOK 12.4b22.9x23.5x3.2x
Wed, 28 May 2025NOK 291.1bNOK 92.2bNOK 12.5b13.8x23.3x3.2x
Fri, 25 Apr 2025NOK 276.0bNOK 91.9bNOK 24.0b8.5x11.5x3x
Sun, 23 Mar 2025NOK 277.1bNOK 91.9bNOK 24.0b8.5x11.6x3x
Tue, 18 Feb 2025NOK 267.6bNOK 92.3bNOK 15.1b11.2x17.7x2.9x
Thu, 16 Jan 2025NOK 256.5bNOK 100.0bNOK 30.6b5.4x8.4x2.6x
Sat, 14 Dec 2024NOK 262.6bNOK 100.0bNOK 30.6b5.8x8.6x2.6x
Mon, 11 Nov 2024NOK 269.9bNOK 100.0bNOK 30.7b6.8x8.8x2.7x
Wed, 09 Oct 2024NOK 261.2bNOK 99.8bNOK 26.4b7.1x9.9x2.6x
Fri, 06 Sep 2024NOK 259.1bNOK 99.8bNOK 26.4b6.9x9.8x2.6x
Sun, 04 Aug 2024NOK 251.4bNOK 99.9bNOK 25.8b6.1x9.7x2.5x
Tue, 02 Jul 2024NOK 243.4bNOK 100.1bNOK 24.0b6.7x10.1x2.4x
Thu, 30 May 2024NOK 397.4bNOK 121.5bNOK 22.1b7.6x18x3.3x
Sat, 27 Apr 2024NOK 390.4bNOK 121.4bNOK 10.4b4.3x37.6x3.2x
Mon, 25 Mar 2024NOK 379.3bNOK 121.1bNOK 10.4b20x36.3x3.1x
Wed, 21 Feb 2024NOK 377.3bNOK 120.1b-NOK 7,281,746,146.9320.6x-51.8x3.1x
Fri, 19 Jan 2024NOK 397.0bNOK 145.5bNOK 2.8b38.7x141.4x2.7x
Sun, 17 Dec 2023NOK 392.1bNOK 145.4bNOK 2.9b39.3x135.2x2.7x
Tue, 14 Nov 2023NOK 366.1bNOK 145.8bNOK 1.1b15.5x331.9x2.5x
Thu, 12 Oct 2023NOK 370.6bNOK 144.5b-NOK 17,846,642,532.0026.1x-20.8x2.6x
Sat, 09 Sep 2023NOK 311.8bNOK 144.3b-NOK 17,674,986,096.0024.2x-17.6x2.2x
Price to Earnings Ratio

-17.6x


Total Market Cap: NOK 311.8bTotal Earnings: -NOK 17,674,986,096.00Total Revenue: NOK 144.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Telecom Sector Price to Earnings3Y Average 31x202420252026
Current Industry PE
  • Investors are relatively neutral on the Norwegian Communication Services industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 30.9x.
  • The industry is trading close to its 3-year average PS ratio of 2.9x.
Past Earnings Growth
  • Total earnings for the Communication Services industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 16% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Norwegian Telecom sector?

NO Market1.04%
Telecom-1.17%
Telecom Services and Carriers0.073%
Wireless Telecom0%0
Media-2.35%
Interactive Media and Services-5.34%
Entertainment-20.06%
Industry PE
  • Investors are most optimistic about the Media industry even though it's trading below its 3-year average PE ratio of 535x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
Forecasted Growth
  • Analysts are most optimistic on the Interactive Media and Services industry, expecting annual earnings growth of 108% over the next 5 years.
  • In contrast, the Telecom Services and Carriers industry is expected to see its earnings decline by 5.5% 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
TEL TelenorNOK 136.200.07%
+NOK 136.4m		-18.9%PE11.6x

Latest News

VEND
NOK 248.00
Vend Marketplaces
7D
-5.3%
1Y
-30.5%
5PG
NOK 1.36
5th Planet Games
7D
-20.1%
1Y
78.8%
POL
NOK 60.40
Polaris Media
7D
-1.0%
1Y
1.5%
TEL
NOK 136.20
Telenor
7D
0.07%
1Y
-18.9%
Narrative Update • Aug 12

TEL: Nordics Expansion And Capital Returns Will Support Future Upside Potential

Telenor's analyst fair value estimate has been adjusted from NOK 164.35 to NOK 160.95. This reflects a group of recent price target resets in the NOK 135 to NOK 160 range as analysts update their views on discount rates, more moderate revenue assumptions and slightly firmer profit margins.