Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Norwegian (OSEAX) Telecom Sector Analysis

UpdatedJul 23, 2026
DataAggregated Company Financials
Companies6
  • 7D-7.4%
  • 3M-16.0%
  • 1Y-22.4%
  • YTD-9.7%

Over the last 7 days, the Telecom industry has dropped 7.4%, driven by Telenor declining 8.1%. The industry has fallen 22% in the last year. Looking forward, earnings are forecast to grow by 18% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Jul 2026NOK 234.9bNOK 85.1bNOK 7.7b157.5x30.6x2.8x
Sat, 20 Jun 2026NOK 253.0bNOK 86.1bNOK 12.9b166.5x19.6x2.9x
Mon, 18 May 2026NOK 272.8bNOK 86.1bNOK 12.9b202x21.2x3.2x
Wed, 15 Apr 2026NOK 282.6bNOK 86.5bNOK 10.3b207.1x27.4x3.3x
Fri, 13 Mar 2026NOK 293.5bNOK 86.5bNOK 10.2b59.1x28.7x3.4x
Sun, 08 Feb 2026NOK 296.2bNOK 86.5bNOK 10.2b51.5x28.9x3.4x
Tue, 06 Jan 2026NOK 261.3bNOK 92.7bNOK 11.6b41.8x22.5x2.8x
Thu, 04 Dec 2025NOK 258.2bNOK 92.7bNOK 11.6b43x22.2x2.8x
Sat, 01 Nov 2025NOK 282.7bNOK 92.7bNOK 11.7b38x24.1x3x
Mon, 29 Sep 2025NOK 300.9bNOK 92.5bNOK 17.5b25.6x17.2x3.3x
Wed, 27 Aug 2025NOK 312.3bNOK 92.5bNOK 17.5b22.3x17.8x3.4x
Fri, 25 Jul 2025NOK 305.5bNOK 92.5bNOK 18.1b11.9x16.9x3.3x
Sun, 22 Jun 2025NOK 288.9bNOK 92.2bNOK 12.4b22.6x23.2x3.1x
Tue, 20 May 2025NOK 292.8bNOK 92.2bNOK 12.5b13.9x23.4x3.2x
Thu, 17 Apr 2025NOK 277.9bNOK 91.9bNOK 24.0b8.5x11.6x3x
Sat, 15 Mar 2025NOK 273.1bNOK 91.9bNOK 24.7b8.3x11x3x
Mon, 10 Feb 2025NOK 268.4bNOK 92.3bNOK 15.0b11.5x17.9x2.9x
Wed, 08 Jan 2025NOK 258.7bNOK 100.0bNOK 30.6b5.6x8.4x2.6x
Fri, 06 Dec 2024NOK 264.9bNOK 100.0bNOK 30.6b5.7x8.6x2.6x
Sun, 03 Nov 2024NOK 276.6bNOK 100.0bNOK 30.6b6.2x9x2.8x
Tue, 01 Oct 2024NOK 265.1bNOK 99.8bNOK 26.4b7.2x10.1x2.7x
Thu, 29 Aug 2024NOK 251.3bNOK 99.8bNOK 26.4b6.8x9.5x2.5x
Sat, 27 Jul 2024NOK 248.9bNOK 99.9bNOK 25.8b6.4x9.6x2.5x
Mon, 24 Jun 2024NOK 244.1bNOK 100.1bNOK 24.0b7.1x10.2x2.4x
Wed, 22 May 2024NOK 395.0bNOK 121.3bNOK 22.4b8.4x17.7x3.3x
Fri, 19 Apr 2024NOK 380.8bNOK 121.4bNOK 10.4b4.2x36.7x3.1x
Sun, 17 Mar 2024NOK 374.0bNOK 121.0bNOK 10.4b20.2x35.8x3.1x
Tue, 13 Feb 2024NOK 369.3bNOK 120.1b-NOK 7,217,509,023.3622x-51.2x3.1x
Thu, 11 Jan 2024NOK 390.3bNOK 145.3bNOK 3.0b39.2x131.1x2.7x
Sat, 09 Dec 2023NOK 388.5bNOK 146.1bNOK 2.3b38x166.3x2.7x
Mon, 06 Nov 2023NOK 353.9bNOK 145.8bNOK 1.2b14.9x297.6x2.4x
Wed, 04 Oct 2023NOK 365.8bNOK 144.3b-NOK 17,593,757,875.0025.8x-20.8x2.5x
Fri, 01 Sep 2023NOK 320.3bNOK 144.0b-NOK 18,382,632,924.0025.7x-17.4x2.2x
Sun, 30 Jul 2023NOK 309.0bNOK 143.3b-NOK 17,897,589,840.00160.8x-17.3x2.2x
Price to Earnings Ratio

-17.3x


Total Market Cap: NOK 309.0bTotal Earnings: -NOK 17,897,589,840.00Total Revenue: NOK 143.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Telecom Sector Price to Earnings3Y Average 29.2x202420252026
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 29.2x.
  • 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 Market2.33%
Telecom-7.39%
Entertainment2.24%
Media0%0
Wireless Telecom0%0
Interactive Media and Services-5.10%
Telecom Services and Carriers-8.13%
Industry PE
  • Investors are most optimistic about the Media industry even though it's trading below its 3-year average PE ratio of 523x.
    • 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 5.8% 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
5PG 5th Planet GamesNOK 1.372.2%
+NOK 8.1m		74.3%PE157.5x

Latest News

VEND
NOK 238.40
Vend Marketplaces
7D
-5.1%
1Y
-37.6%
TEL
NOK 133.40
Telenor
7D
-8.1%
1Y
-17.2%
Narrative Update • Jul 17

TEL: Nordics Expansion And IoT Proceeds Will Support Upside Potential

Telenor's updated fair value estimate of NOK 164.35, down from NOK 168, reflects a recalibrated view of analyst price targets that now cluster around NOK 140 to NOK 170, as analysts weigh recent upgrades to Buy and trimmed targets against mixed sentiment on Nordic telecoms. Analyst Commentary Recent research on Telenor shows a split view, with some analysts turning more positive on the stock while others are trimming expectations and leaning cautious on the Nordic telecoms space.
5PG
NOK 1.37
5th Planet Games
7D
2.2%
1Y
74.3%