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Norwegian (OSEAX) Telecom Sector Analysis

UpdatedJan 23, 2026
DataAggregated Company Financials
Companies6
  • 7D6.8%
  • 3M-6.6%
  • 1Y7.0%
  • YTD6.0%

Over the last 7 days, the Telecom industry has remained flat, although notably Telenor gained 9.4%. As for the the longer term, the industry is up 3.5% over the past 12 months. Earnings are forecast to grow by 7.2% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 23 Jan 2026NOK 278.7bNOK 92.7bNOK 11.6b44.6x24x3x
Sun, 21 Dec 2025NOK 256.8bNOK 92.7bNOK 11.6b41.9x22.1x2.8x
Tue, 18 Nov 2025NOK 268.2bNOK 92.7bNOK 11.6b64.7x23.1x2.9x
Thu, 16 Oct 2025NOK 307.4bNOK 92.5bNOK 17.5b24.6x17.5x3.3x
Sat, 13 Sep 2025NOK 315.6bNOK 92.5bNOK 17.5b27.1x18x3.4x
Mon, 11 Aug 2025NOK 305.7bNOK 92.5bNOK 18.1b12x16.9x3.3x
Wed, 09 Jul 2025NOK 293.8bNOK 92.2bNOK 12.4b23x23.6x3.2x
Fri, 06 Jun 2025NOK 293.0bNOK 92.2bNOK 12.5b13.7x23.4x3.2x
Sun, 04 May 2025NOK 289.7bNOK 91.9bNOK 24.0b8.9x12.1x3.2x
Tue, 01 Apr 2025NOK 273.4bNOK 91.9bNOK 24.0b8.6x11.4x3x
Thu, 27 Feb 2025NOK 273.5bNOK 91.9bNOK 24.7b8.2x11.1x3x
Sat, 25 Jan 2025NOK 262.0bNOK 100.0bNOK 30.6b5.5x8.6x2.6x
Mon, 23 Dec 2024NOK 253.8bNOK 100.0bNOK 30.6b5.5x8.3x2.5x
Wed, 20 Nov 2024NOK 267.1bNOK 100.0bNOK 30.7b7x8.7x2.7x
Fri, 18 Oct 2024NOK 263.4bNOK 99.8bNOK 26.4b6.4x10x2.6x
Sun, 15 Sep 2024NOK 261.1bNOK 99.8bNOK 26.4b7x9.9x2.6x
Tue, 13 Aug 2024NOK 246.8bNOK 99.9bNOK 25.8b6.1x9.6x2.5x
Thu, 11 Jul 2024NOK 246.7bNOK 100.1bNOK 24.0b6.8x10.3x2.5x
Sat, 08 Jun 2024NOK 247.6bNOK 100.1bNOK 24.0b7.1x10.3x2.5x
Mon, 06 May 2024NOK 395.0bNOK 121.5bNOK 22.3b8.4x17.7x3.3x
Wed, 03 Apr 2024NOK 387.3bNOK 121.2bNOK 10.4b4.5x37.3x3.2x
Fri, 01 Mar 2024NOK 371.8bNOK 120.4b-NOK 7,514,517,512.9120.7x-49.5x3.1x
Sun, 28 Jan 2024NOK 398.8bNOK 145.3bNOK 3.1b36.8x128x2.7x
Tue, 26 Dec 2023NOK 384.1bNOK 145.1bNOK 3.2b39.2x121.8x2.6x
Thu, 23 Nov 2023NOK 366.0bNOK 145.6bNOK 1.3b15x281.3x2.5x
Sat, 21 Oct 2023NOK 358.5bNOK 144.9b-NOK 18,156,743,964.0025.1x-19.7x2.5x
Mon, 18 Sep 2023NOK 328.0bNOK 144.5b-NOK 17,789,693,389.0025.8x-18.4x2.3x
Wed, 16 Aug 2023NOK 312.0bNOK 143.7b-NOK 18,317,737,195.0090.9x-17x2.2x
Fri, 14 Jul 2023NOK 293.0bNOK 142.0b-NOK 24,262,627,884.00163.8x-12.1x2.1x
Sun, 11 Jun 2023NOK 308.0bNOK 142.8b-NOK 24,978,774,501.00167x-12.3x2.2x
Tue, 09 May 2023NOK 335.9bNOK 142.2b-NOK 23,436,114,357.00157.3x-14.3x2.4x
Thu, 06 Apr 2023NOK 320.5bNOK 140.7b-NOK 31,942,293,977.0049.3x-10x2.3x
Sat, 04 Mar 2023NOK 329.8bNOK 140.4b-NOK 31,337,261,817.0054x-10.5x2.3x
Mon, 30 Jan 2023NOK 312.9bNOK 151.9b-NOK 34,328,958,849.0017.3x-9.1x2.1x
Price to Earnings Ratio

-9.1x


Total Market Cap: NOK 312.9bTotal Earnings: -NOK 34,328,958,849.00Total Revenue: NOK 151.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Telecom Sector Price to Earnings3Y Average 23x202420252026
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 23.0x.
  • 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 Market-0.19%
Telecom6.76%
Entertainment10.97%
Telecom Services and Carriers9.36%
Media4.54%
Wireless Telecom0%0
Interactive Media and Services-1.31%
Industry PE
  • Investors are most optimistic about the Media industry which is trading above its 3-year average PE ratio of 228x.
    • 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 8.8% 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 156.609.4%
+NOK 18.3b		15.2%PE21.1x
POL Polaris MediaNOK 56.004.7%
+NOK 122.2m		-34.1%PE3421.3x
5PG 5th Planet GamesNOK 0.8511.0%
+NOK 22.5m		-29.2%PE48x

Latest News

TEL
NOK 156.60
Telenor
7D
9.4%
1Y
15.2%
VEND
NOK 285.60
Vend Marketplaces
7D
-1.3%
1Y
-12.2%

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

Jan 21
Vend Marketplaces (OB:VEND) Seems To Use Debt Rather Sparingly
5PG
NOK 0.85
5th Planet Games
7D
11.0%
1Y
-29.2%
POL
NOK 56.00
Polaris Media
7D
4.7%
1Y
-34.1%

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