Analysis Article • May 20
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Norwegian (OSEAX) Telecom Sector Analysis
UpdatedJul 16, 2026
DataAggregated Company Financials
Companies6
- 7D0.9%
- 3M-9.1%
- 1Y-12.6%
- YTD-2.5%
Over the last 7 days, the Telecom industry has remained flat, although notably Vend Marketplaces gained 3.3%. Unfortunately though, the industry is down 13% over the past 12 months. As for the next few years, earnings are expected to grow by 15% per annum.
Sector Valuation and Performance
Has the Norwegian Telecom Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Thu, 16 Jul 2026 | NOK 254.2b | NOK 86.1b | NOK 12.9b | 152.5x | 19.7x | 3x |
| Sat, 13 Jun 2026 | NOK 260.7b | NOK 86.1b | NOK 12.9b | 140.8x | 20.2x | 3x |
| Mon, 11 May 2026 | NOK 266.2b | NOK 86.1b | NOK 12.9b | 197.2x | 20.7x | 3.1x |
| Wed, 08 Apr 2026 | NOK 287.5b | NOK 86.5b | NOK 10.3b | 117.8x | 27.9x | 3.3x |
| Fri, 06 Mar 2026 | NOK 290.3b | NOK 86.5b | NOK 10.2b | 53.1x | 28.4x | 3.4x |
| Sun, 01 Feb 2026 | NOK 281.6b | NOK 92.7b | NOK 11.6b | 44x | 24.2x | 3x |
| Tue, 30 Dec 2025 | NOK 262.9b | NOK 92.7b | NOK 11.6b | 42.1x | 22.6x | 2.8x |
| Thu, 27 Nov 2025 | NOK 266.1b | NOK 92.7b | NOK 11.6b | 41.8x | 22.9x | 2.9x |
| Sat, 25 Oct 2025 | NOK 298.9b | NOK 92.5b | NOK 17.5b | 24.3x | 17.1x | 3.2x |
| Mon, 22 Sep 2025 | NOK 304.8b | NOK 92.5b | NOK 17.5b | 26.8x | 17.4x | 3.3x |
| Wed, 20 Aug 2025 | NOK 313.5b | NOK 92.5b | NOK 18.1b | 11.9x | 17.3x | 3.4x |
| Fri, 18 Jul 2025 | NOK 302.4b | NOK 92.2b | NOK 12.4b | 23.7x | 24.3x | 3.3x |
| Sun, 15 Jun 2025 | NOK 291.0b | NOK 92.2b | NOK 12.4b | 22.5x | 23.4x | 3.2x |
| Tue, 13 May 2025 | NOK 286.1b | NOK 92.2b | NOK 12.5b | 14.7x | 22.9x | 3.1x |
| Thu, 10 Apr 2025 | NOK 255.7b | NOK 91.9b | NOK 24.0b | 8.1x | 10.7x | 2.8x |
| Sat, 08 Mar 2025 | NOK 268.6b | NOK 91.9b | NOK 24.7b | 8.3x | 10.9x | 2.9x |
| Mon, 03 Feb 2025 | NOK 269.3b | NOK 100.0b | NOK 30.6b | 5.3x | 8.8x | 2.7x |
| Wed, 01 Jan 2025 | NOK 257.2b | NOK 100.0b | NOK 30.6b | 5.5x | 8.4x | 2.6x |
| Fri, 29 Nov 2024 | NOK 266.2b | NOK 100.0b | NOK 30.6b | 5.7x | 8.7x | 2.7x |
| Sun, 27 Oct 2024 | NOK 264.3b | NOK 100.1b | NOK 30.0b | 6.7x | 8.8x | 2.6x |
| Tue, 24 Sep 2024 | NOK 264.4b | NOK 99.8b | NOK 26.4b | 6.9x | 10x | 2.6x |
| Thu, 22 Aug 2024 | NOK 246.3b | NOK 99.9b | NOK 25.8b | 5.9x | 9.5x | 2.5x |
| Sat, 20 Jul 2024 | NOK 247.2b | NOK 99.9b | NOK 25.8b | 6.4x | 9.6x | 2.5x |
| Mon, 17 Jun 2024 | NOK 238.7b | NOK 100.1b | NOK 24.0b | 6.8x | 9.9x | 2.4x |
| Wed, 15 May 2024 | NOK 395.0b | NOK 121.5b | NOK 22.4b | 8.4x | 17.7x | 3.3x |
| Fri, 12 Apr 2024 | NOK 383.4b | NOK 121.1b | NOK 10.4b | 4.4x | 36.8x | 3.2x |
| Sun, 10 Mar 2024 | NOK 368.5b | NOK 120.7b | NOK 10.5b | 21x | 35.2x | 3.1x |
| Tue, 06 Feb 2024 | NOK 365.7b | NOK 141.1b | NOK 4.0b | 18.9x | 90.7x | 2.6x |
| Thu, 04 Jan 2024 | NOK 386.6b | NOK 145.3b | NOK 3.1b | 39.5x | 126.5x | 2.7x |
| Sat, 02 Dec 2023 | NOK 378.2b | NOK 145.8b | NOK 2.5b | 38.1x | 148.7x | 2.6x |
| Mon, 30 Oct 2023 | NOK 343.9b | NOK 145.8b | NOK 1.3b | 14.6x | 274.7x | 2.4x |
| Wed, 27 Sep 2023 | NOK 370.8b | NOK 144.4b | -NOK 17,678,771,130.00 | 26.5x | -21x | 2.6x |
| Fri, 25 Aug 2023 | NOK 312.1b | NOK 144.0b | -NOK 18,476,081,057.00 | 89.3x | -16.9x | 2.2x |
| Sun, 23 Jul 2023 | NOK 304.5b | NOK 143.2b | -NOK 17,836,910,722.00 | 154.8x | -17.1x | 2.1x |
Price to Earnings Ratio
-17.1x
Current Industry PE
- Investors are pessimistic on the Norwegian Communication Services 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 19.7x which is lower than its 3-year average PE of 28.9x.
- 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 Market | 0.48% | |
| Telecom | 0.92% | |
| Interactive Media and Services | 3.29% | |
| Telecom Services and Carriers | 0.35% | |
| Wireless Telecom | 0% | 0 |
| Media | -0.63% | |
| Entertainment | -1.11% | |
Industry PE
- Investors are most optimistic about the Media industry even though it's trading below its 3-year average PE ratio of 522x.
- 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 97% over the next 5 years.
- In contrast, the Telecom Services and Carriers industry is expected to see its earnings decline by 6.7% 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 | |
|---|---|---|---|---|---|
| VEND Vend Marketplaces | NOK 252.00 | 6.2% +NOK 3.0b | -26.7% | PS8.3x | |
| POL Polaris Media | NOK 60.00 | 3.4% +NOK 97.8m | -1.6% | PE274.1x | |
| NHST NHST Holding | NOK 101.00 | 12.2% +NOK 17.1m | n/a | PE2.3x | |
| 5PG 5th Planet Games | NOK 1.36 | 1.1% +NOK 4.0m | 66.1% | PE154.1x |