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Norwegian (OSEAX) Telecom Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies6
  • 7D5.8%
  • 3M-2.1%
  • 1Y6.5%
  • YTD6.5%

In the last week, the Telecom industry is up 5.1%, with Telenor up 7.3%. This means that the industry has gained 6.0% over the past year. Earnings are forecast to grow by 6.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026NOK 279.8bNOK 92.7bNOK 11.6b44.1x24.1x3x
Sat, 27 Dec 2025NOK 257.2bNOK 92.7bNOK 11.6b41.9x22.1x2.8x
Mon, 24 Nov 2025NOK 264.6bNOK 92.7bNOK 11.6b39.3x22.8x2.9x
Wed, 22 Oct 2025NOK 298.5bNOK 92.5bNOK 17.5b24.8x17x3.2x
Fri, 19 Sep 2025NOK 306.7bNOK 92.5bNOK 17.5b26.9x17.5x3.3x
Sun, 17 Aug 2025NOK 313.8bNOK 92.5bNOK 18.1b12.1x17.3x3.4x
Tue, 15 Jul 2025NOK 296.4bNOK 92.2bNOK 12.4b23.2x23.8x3.2x
Thu, 12 Jun 2025NOK 290.5bNOK 92.2bNOK 12.4b22.5x23.4x3.1x
Sat, 10 May 2025NOK 288.9bNOK 92.2bNOK 12.5b14.9x23.1x3.1x
Mon, 07 Apr 2025NOK 268.7bNOK 91.9bNOK 24.0b8.4x11.2x2.9x
Wed, 05 Mar 2025NOK 272.9bNOK 91.9bNOK 24.7b8.2x11x3x
Fri, 31 Jan 2025NOK 268.9bNOK 100.0bNOK 30.6b5.5x8.8x2.7x
Sun, 29 Dec 2024NOK 257.8bNOK 100.0bNOK 30.6b5.8x8.4x2.6x
Tue, 26 Nov 2024NOK 264.6bNOK 100.0bNOK 30.6b5.7x8.6x2.6x
Thu, 24 Oct 2024NOK 261.0bNOK 99.8bNOK 26.4b6x9.9x2.6x
Sat, 21 Sep 2024NOK 264.4bNOK 99.8bNOK 26.4b6.9x10x2.6x
Mon, 19 Aug 2024NOK 249.1bNOK 99.9bNOK 25.8b6.2x9.6x2.5x
Wed, 17 Jul 2024NOK 245.2bNOK 100.1bNOK 24.0b6.5x10.2x2.4x
Fri, 14 Jun 2024NOK 241.1bNOK 100.1bNOK 24.0b6.9x10.1x2.4x
Sun, 12 May 2024NOK 391.8bNOK 121.5bNOK 22.4b8.4x17.5x3.2x
Tue, 09 Apr 2024NOK 387.5bNOK 121.1bNOK 10.4b4.6x37.3x3.2x
Thu, 07 Mar 2024NOK 367.0bNOK 120.8bNOK 10.5b21.1x35.1x3x
Sat, 03 Feb 2024NOK 387.3bNOK 145.5bNOK 2.9b29.3x134.9x2.7x
Mon, 01 Jan 2024NOK 383.9bNOK 145.1bNOK 3.2b39.4x119.5x2.6x
Wed, 29 Nov 2023NOK 375.8bNOK 146.0bNOK 2.4b37.3x155.2x2.6x
Fri, 27 Oct 2023NOK 342.1bNOK 145.1b-NOK 18,393,845,619.0024.9x-18.6x2.4x
Sun, 24 Sep 2023NOK 377.8bNOK 144.4b-NOK 17,721,421,354.0026.7x-21.3x2.6x
Tue, 22 Aug 2023NOK 308.5bNOK 143.9b-NOK 18,414,494,229.0093.7x-16.8x2.1x
Thu, 20 Jul 2023NOK 296.7bNOK 142.3b-NOK 19,954,988,511.00157.3x-14.9x2.1x
Sat, 17 Jun 2023NOK 309.1bNOK 142.7b-NOK 24,949,855,558.00167x-12.4x2.2x
Mon, 15 May 2023NOK 327.9bNOK 142.3b-NOK 24,431,419,495.00159.9x-13.4x2.3x
Wed, 12 Apr 2023NOK 320.8bNOK 141.2b-NOK 32,383,471,383.0049.3x-9.9x2.3x
Fri, 10 Mar 2023NOK 324.3bNOK 140.7b-NOK 31,658,917,703.0053.4x-10.2x2.3x
Sun, 05 Feb 2023NOK 334.2bNOK 152.4b-NOK 34,318,777,722.0017x-9.7x2.2x
Price to Earnings Ratio

-9.7x


Total Market Cap: NOK 334.2bTotal Earnings: -NOK 34,318,777,722.00Total Revenue: NOK 152.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Telecom Sector Price to Earnings3Y Average 23.2x202420252026
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 23.1x.
  • The industry is trading close to its 3-year average PS ratio of 2.7x.
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 15% 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 Market0.79%
Telecom5.79%
Telecom Services and Carriers8.88%
Entertainment8.61%
Wireless Telecom0%0
Media-0.87%
Interactive Media and Services-4.00%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 247x.
    • It looks like they are confident that earnings will grow faster in the future than they have historically.
  • Investors are most pessimistic about the Telecom Services and Carriers industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 16.7x.
Forecasted Growth
  • Analysts are most optimistic on the Telecom Services and Carriers industry, expecting annual earnings growth of 8.3% over the next 5 years.
  • This is better than its past earnings growth rate of 4.4% per year.
  • In contrast, the Interactive Media and Services industry is expected to see its earnings growth to stay flat 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 159.408.9%
+NOK 17.8b		15.4%PE21.5x
5PG 5th Planet GamesNOK 0.868.6%
+NOK 18.2m		-25.4%PE48.8x

Latest News

TEL
NOK 159.40
Telenor
7D
8.9%
1Y
15.4%
VEND
NOK 273.60
Vend Marketplaces
7D
-4.0%
1Y
-15.1%

Vend Marketplaces (OB:VEND) Seems To Use Debt Rather Sparingly

Jan 21
Vend Marketplaces (OB:VEND) Seems To Use Debt Rather Sparingly
5PG
NOK 0.86
5th Planet Games
7D
8.6%
1Y
-25.4%
POL
NOK 55.50
Polaris Media
7D
-0.9%
1Y
-35.5%

These 4 Measures Indicate That Polaris Media (OB:POL) Is Using Debt Reasonably Well

Dec 19
These 4 Measures Indicate That Polaris Media (OB:POL) Is Using Debt Reasonably Well