Skandia GreenPower AS' (OB:SKAND) 25% Share Price Surge Not Quite Adding Up
May 21
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Norwegian (OSEAX) Utilities Sector Analysis
UpdatedJul 03, 2025
DataAggregated Company Financials
Companies8
- 7D4.9%
- 3M22.4%
- 1Y6.5%
- YTD6.3%
Over the last 7 days, the Utilities industry has risen 3.6%, driven by gains from Scatec of 4.4%. During this same period, the Alternus Energy Group underperformed, falling 43%. In the last 12 months, the industry was up 3.3%. Looking forward, earnings are forecast to decline by 10% per year.
Sector Valuation and Performance
Has the Norwegian Utilities Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 04 Jul 2025 | NOK 24.8b | NOK 16.9b | NOK 2.7b | 11.7x | 9.3x | 1.5x |
| Sun, 01 Jun 2025 | NOK 23.7b | NOK 16.9b | NOK 2.7b | 11.3x | 8.9x | 1.4x |
| Tue, 29 Apr 2025 | NOK 22.5b | NOK 17.5b | NOK 1.9b | 11x | 12.1x | 1.3x |
| Thu, 27 Mar 2025 | NOK 21.9b | NOK 17.5b | NOK 1.9b | 10.5x | 11.5x | 1.3x |
| Sat, 22 Feb 2025 | NOK 21.3b | NOK 17.5b | NOK 1.9b | 9.9x | 11.1x | 1.2x |
| Mon, 20 Jan 2025 | NOK 22.1b | NOK 19.3b | NOK 2.2b | 9.7x | 10.1x | 1.1x |
| Wed, 18 Dec 2024 | NOK 22.3b | NOK 19.3b | NOK 2.2b | 9.6x | 10.1x | 1.2x |
| Fri, 15 Nov 2024 | NOK 22.3b | NOK 19.5b | NOK 2.2b | 10.5x | 10.2x | 1.1x |
| Sun, 13 Oct 2024 | NOK 20.7b | NOK 19.7b | NOK 270.2m | 30.3x | 76.5x | 1x |
| Tue, 10 Sep 2024 | NOK 20.1b | NOK 19.7b | NOK 267.8m | 27.5x | 75.2x | 1x |
| Thu, 08 Aug 2024 | NOK 21.6b | NOK 20.9b | NOK 796.4m | 20.4x | 27.2x | 1x |
| Sat, 06 Jul 2024 | NOK 22.6b | NOK 20.9b | NOK 1.0b | 18.5x | 22.2x | 1.1x |
| Mon, 03 Jun 2024 | NOK 21.0b | NOK 20.8b | NOK 934.6m | 17.4x | 22.5x | 1x |
| Wed, 01 May 2024 | NOK 19.8b | NOK 23.1b | NOK 863.3m | 18.8x | 23x | 0.9x |
| Fri, 29 Mar 2024 | NOK 18.7b | NOK 23.1b | NOK 894.9m | 18.3x | 20.9x | 0.8x |
| Sun, 25 Feb 2024 | NOK 17.2b | NOK 23.3b | NOK 789.3m | 16.9x | 21.8x | 0.7x |
| Tue, 23 Jan 2024 | NOK 18.3b | NOK 27.2b | -NOK 66,585,875.00 | 30.1x | -275.3x | 0.7x |
| Thu, 21 Dec 2023 | NOK 19.4b | NOK 26.8b | NOK 22.9m | 29.6x | 847x | 0.7x |
| Sat, 18 Nov 2023 | NOK 17.4b | NOK 26.8b | NOK 8.9m | 25.8x | 1961x | 0.7x |
| Mon, 16 Oct 2023 | NOK 15.3b | NOK 30.4b | NOK 274.8m | 254.7x | 55.6x | 0.5x |
| Wed, 13 Sep 2023 | NOK 17.3b | NOK 30.4b | NOK 276.4m | 309.7x | 62.5x | 0.6x |
| Fri, 11 Aug 2023 | NOK 19.1b | NOK 31.0b | -NOK 317,946,550.00 | 19.9x | -60.2x | 0.6x |
| Sun, 09 Jul 2023 | NOK 18.5b | NOK 31.0b | -NOK 300,634,113.00 | 25.7x | -61.5x | 0.6x |
| Tue, 06 Jun 2023 | NOK 19.0b | NOK 30.9b | -NOK 306,232,307.00 | 21.5x | -62.2x | 0.6x |
| Thu, 04 May 2023 | NOK 16.3b | NOK 29.4b | -NOK 1,427,619,751.00 | 24.8x | -11.4x | 0.6x |
| Sat, 01 Apr 2023 | NOK 17.3b | NOK 29.8b | -NOK 1,396,936,538.00 | 26.4x | -12.4x | 0.6x |
| Mon, 27 Feb 2023 | NOK 17.4b | NOK 29.8b | -NOK 1,391,322,710.00 | 23.8x | -12.5x | 0.6x |
| Wed, 25 Jan 2023 | NOK 20.4b | NOK 27.6b | -NOK 718,643,546.00 | 32.5x | -28.3x | 0.7x |
| Fri, 23 Dec 2022 | NOK 20.2b | NOK 27.6b | -NOK 715,552,737.00 | 33.7x | -28.3x | 0.7x |
| Sun, 20 Nov 2022 | NOK 21.8b | NOK 27.5b | -NOK 702,094,565.00 | 36.8x | -31x | 0.8x |
| Tue, 18 Oct 2022 | NOK 18.4b | NOK 23.5b | -NOK 882,244,172.00 | 5.4x | -20.9x | 0.8x |
| Thu, 15 Sep 2022 | NOK 24.5b | NOK 23.4b | -NOK 866,866,430.00 | 6.5x | -28.3x | 1x |
| Sat, 13 Aug 2022 | NOK 26.1b | NOK 21.6b | -NOK 810,371,084.00 | 11.7x | -32.1x | 1.2x |
| Mon, 11 Jul 2022 | NOK 22.9b | NOK 21.6b | -NOK 622,590,632.00 | 11.3x | -36.8x | 1.1x |
Price to Earnings Ratio
-36.8x
Current Industry PE
- Investors are pessimistic on the Norwegian Utilities 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 9.3x which is lower than its 3-year average PE of 79.2x.
- The 3-year average PS ratio of 0.89x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
- Total earnings for the Utilities industry have gone up over the last three years and the industry is now profitable.
- Revenues have declined 7.8% 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 Utilities sector?
| NO Market | 1.91% | |
| Utilities | 4.88% | |
| Renewable Energy | 4.95% | |
| Electric Utilities | 4.52% | |
Industry PE
- Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 1.4x.
- Analysts are expecting annual earnings growth of 9.3%, which is lower than the prior year's growth of 51.3% per year.
- Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 47.7x.
Forecasted Growth
- Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 9.3% over the next 5 years.
- However this is lower than its past earnings growth rate of 51% per year.
- In contrast, the Renewable Energy industry is expected to see its earnings decline by 14% 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 | |
|---|---|---|---|---|---|
| SCATC Scatec | NOK 97.20 | 5.9% +NOK 858.2m | 16.1% | PE7.1x | |
| CLOUD Cloudberry Clean Energy | NOK 12.72 | 4.4% +NOK 171.4m | 9.1% | PE56.1x | |
| ELMRA Elmera Group | NOK 35.35 | 4.6% +NOK 169.3m | 7.8% | PE12.7x | |
| MGN Magnora | NOK 24.70 | 2.1% +NOK 31.9m | -10.7% | PE4.9x | |
| SKAND Skandia GreenPower | NOK 1.60 | 3.2% +NOK 6.0m | 35.6% | PE11.7x |