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Norwegian (OSEAX) Utilities Sector Analysis

UpdatedOct 23, 2025
DataAggregated Company Financials
Companies9
  • 7D1.8%
  • 3M-2.4%
  • 1Y0.7%
  • YTD1.8%

Over the last 7 days, the Utilities industry has remained flat, although notably Cloudberry Clean Energy declined by 4.6%. Furthermore, the industry has been flat for the past year as well. Looking forward, earnings are forecast to grow by 1.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 23 Oct 2025NOK 25.2bNOK 16.1bNOK 2.5b9.7x9.9x1.6x
Sat, 20 Sep 2025NOK 24.4bNOK 16.1bNOK 2.5b9.5x9.6x1.5x
Mon, 18 Aug 2025NOK 24.6bNOK 16.9bNOK 2.4b12.9x10.4x1.5x
Wed, 16 Jul 2025NOK 25.6bNOK 16.9bNOK 2.7b12.5x9.6x1.5x
Fri, 13 Jun 2025NOK 23.6bNOK 16.9bNOK 2.7b11.5x8.9x1.4x
Sun, 11 May 2025NOK 23.5bNOK 18.2bNOK 2.7b10.9x8.6x1.3x
Tue, 08 Apr 2025NOK 19.9bNOK 17.5bNOK 1.9b9.9x10.5x1.1x
Thu, 06 Mar 2025NOK 20.5bNOK 17.4bNOK 1.9b9.7x10.7x1.2x
Sat, 01 Feb 2025NOK 21.6bNOK 19.3bNOK 2.2b9.1x9.8x1.1x
Mon, 30 Dec 2024NOK 22.6bNOK 19.3bNOK 2.2b10x10.3x1.2x
Wed, 27 Nov 2024NOK 22.1bNOK 19.3bNOK 2.2b10x10.1x1.1x
Fri, 25 Oct 2024NOK 22.6bNOK 19.8bNOK 555.9m17.1x40.6x1.1x
Sun, 22 Sep 2024NOK 20.3bNOK 19.7bNOK 272.4m30.6x74.7x1x
Tue, 20 Aug 2024NOK 21.0bNOK 19.8bNOK 470.1m31.1x44.7x1.1x
Thu, 18 Jul 2024NOK 21.3bNOK 20.9bNOK 836.0m20.1x25.4x1x
Sat, 15 Jun 2024NOK 21.1bNOK 20.9bNOK 836.6m18.6x25.2x1x
Mon, 13 May 2024NOK 19.4bNOK 20.9bNOK 939.3m17.5x20.7x0.9x
Wed, 10 Apr 2024NOK 19.4bNOK 23.1bNOK 864.8m19.1x22.5x0.8x
Fri, 08 Mar 2024NOK 17.6bNOK 23.3bNOK 783.7m17.1x22.5x0.8x
Sun, 04 Feb 2024NOK 19.4bNOK 26.9bNOK 824.2m19.5x23.5x0.7x
Tue, 02 Jan 2024NOK 20.6bNOK 26.8bNOK 24.3m31.1x850.9x0.8x
Thu, 30 Nov 2023NOK 17.5bNOK 26.8bNOK 10.7m24.8x1632.8x0.7x
Sat, 28 Oct 2023NOK 15.5bNOK 30.4bNOK 272.3m262.2x56.9x0.5x
Mon, 25 Sep 2023NOK 17.0bNOK 30.4bNOK 276.0m301.9x61.7x0.6x
Wed, 23 Aug 2023NOK 17.4bNOK 30.5bNOK 288.2m323.5x60.3x0.6x
Fri, 21 Jul 2023NOK 19.9bNOK 31.0b-NOK 296,940,303.0025.7x-67x0.6x
Sun, 18 Jun 2023NOK 18.6bNOK 30.9b-NOK 303,933,391.0022.9x-61.1x0.6x
Tue, 16 May 2023NOK 18.5bNOK 30.9b-NOK 325,848,692.0021x-56.8x0.6x
Thu, 13 Apr 2023NOK 18.6bNOK 29.8b-NOK 1,415,672,690.0026.6x-13.1x0.6x
Sat, 11 Mar 2023NOK 16.1bNOK 29.8b-NOK 1,393,609,411.0023.5x-11.5x0.5x
Mon, 06 Feb 2023NOK 20.0bNOK 28.3b-NOK 1,228,609,639.0031.6x-16.3x0.7x
Wed, 04 Jan 2023NOK 19.7bNOK 27.6b-NOK 718,252,203.0032.9x-27.4x0.7x
Fri, 02 Dec 2022NOK 21.7bNOK 27.5b-NOK 712,555,963.0036.8x-30.4x0.8x
Sun, 30 Oct 2022NOK 18.4bNOK 23.6b-NOK 814,996,700.0034.1x-22.5x0.8x
Price to Earnings Ratio

-22.5x


Total Market Cap: NOK 18.4bTotal Earnings: -NOK 814,996,700.00Total Revenue: NOK 23.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Utilities Sector Price to Earnings3Y Average 83.2x202320242025
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 9.8x which is lower than its 3-year average PE of 83.2x.
  • The 3-year average PS ratio of 0.94x 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 12% 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-0.97%
Utilities1.78%
Electric Utilities5.67%
Renewable Energy1.13%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 1.8x.
    • Analysts are expecting annual earnings growth of 17.0%, which is lower than the prior year's growth of 60.9% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 50.7x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 17% over the next 5 years.
  • However this is lower than its past earnings growth rate of 61% per year.
  • In contrast, the Renewable Energy 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
SCATC ScatecNOK 106.101.3%
+NOK 222.5m		26.8%PE6.7x
ELMRA Elmera GroupNOK 34.056.2%
+NOK 218.5m		0.4%PE12.6x
CLOUD Cloudberry Clean EnergyNOK 12.802.4%
+NOK 95.4m		5.4%PS10.6x
ENERG EnergeiaNOK 0.0378.7%
+NOK 7.0m		-95.3%PS1.4x
EAM EAM SolarNOK 1.3929.4%
+NOK 2.4m		-98.0%PS0.6x

Latest News

MGN
NOK 19.44
Magnora
7D
-5.9%
1Y
-14.2%
SKAND
NOK 1.79
Skandia GreenPower
7D
-3.2%
1Y
46.1%
NOFIN
NOK 2.08
Nordic Financials
7D
2.5%
1Y
-97.5%
SCATC
NOK 106.10
Scatec
7D
1.3%
1Y
26.8%

Do Scatec's (OB:SCATC) Earnings Warrant Your Attention?

Oct 07
Do Scatec's (OB:SCATC) Earnings Warrant Your Attention?
EAM
NOK 1.39
EAM Solar
7D
29.4%
1Y
-98.0%
ENERG
NOK 0.037
Energeia
7D
8.7%
1Y
-95.3%
CLOUD
NOK 12.80
Cloudberry Clean Energy
7D
2.4%
1Y
5.4%
ELMRA
NOK 34.05
Elmera Group
7D
6.2%
1Y
0.4%