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Norwegian (OSEAX) Utilities Sector Analysis

UpdatedAug 18, 2025
DataAggregated Company Financials
Companies9
  • 7D-1.5%
  • 3M11.1%
  • 1Y6.8%
  • YTD8.8%

Over the last 7 days, the Utilities industry has dropped 1.6%, driven by a pullback from Scatec of 3.1%. In the past year, the industry has gained 6.5%. Looking forward, earnings are forecast to decline by 11% per year.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 19 Aug 2025NOK 24.6bNOK 16.9bNOK 2.4b12.9x10.4x1.5x
Thu, 17 Jul 2025NOK 25.5bNOK 16.9bNOK 2.7b12.2x9.6x1.5x
Sat, 14 Jun 2025NOK 23.4bNOK 16.9bNOK 2.7b11.5x8.8x1.4x
Mon, 12 May 2025NOK 23.5bNOK 18.2bNOK 2.7b10.9x8.6x1.3x
Wed, 09 Apr 2025NOK 20.3bNOK 17.5bNOK 1.9b10.6x10.7x1.2x
Fri, 07 Mar 2025NOK 20.1bNOK 17.4bNOK 1.9b9.6x10.5x1.2x
Sun, 02 Feb 2025NOK 21.6bNOK 21.5bNOK 1.6b10.6x13.4x1x
Tue, 31 Dec 2024NOK 22.7bNOK 19.3bNOK 2.2b9.9x10.3x1.2x
Thu, 28 Nov 2024NOK 22.5bNOK 19.3bNOK 2.2b10x10.2x1.2x
Sat, 26 Oct 2024NOK 22.6bNOK 19.8bNOK 569.4m17.4x39.7x1.1x
Mon, 23 Sep 2024NOK 20.3bNOK 19.7bNOK 272.4m30.6x74.7x1x
Wed, 21 Aug 2024NOK 20.8bNOK 19.8bNOK 470.7m31x44.3x1.1x
Fri, 19 Jul 2024NOK 21.5bNOK 20.9bNOK 835.2m20.1x25.7x1x
Sun, 16 Jun 2024NOK 21.1bNOK 20.9bNOK 836.6m18.6x25.2x1x
Tue, 14 May 2024NOK 19.4bNOK 20.9bNOK 939.5m17.4x20.7x0.9x
Thu, 11 Apr 2024NOK 18.8bNOK 23.1bNOK 863.4m18.6x21.8x0.8x
Sat, 09 Mar 2024NOK 17.9bNOK 23.3bNOK 783.5m17.3x22.8x0.8x
Mon, 05 Feb 2024NOK 19.4bNOK 26.9bNOK 824.2m19.5x23.5x0.7x
Wed, 03 Jan 2024NOK 19.7bNOK 26.8bNOK 22.8m29.6x863.5x0.7x
Fri, 01 Dec 2023NOK 17.8bNOK 26.8bNOK 16.7m24.7x1070.4x0.7x
Sun, 29 Oct 2023NOK 15.5bNOK 30.5bNOK 266.2m262.2x58.2x0.5x
Tue, 26 Sep 2023NOK 16.5bNOK 30.4bNOK 275.8m285.1x59.7x0.5x
Thu, 24 Aug 2023NOK 17.7bNOK 30.5bNOK 288.4m325.3x61.4x0.6x
Sat, 22 Jul 2023NOK 19.8bNOK 31.0b-NOK 296,876,421.0026x-66.8x0.6x
Mon, 19 Jun 2023NOK 18.6bNOK 30.9b-NOK 303,884,886.0022.9x-61.1x0.6x
Wed, 17 May 2023NOK 18.9bNOK 30.9b-NOK 326,827,091.0021.7x-57.8x0.6x
Fri, 14 Apr 2023NOK 18.4bNOK 29.8b-NOK 1,413,790,957.0026.3x-13x0.6x
Sun, 12 Mar 2023NOK 16.1bNOK 29.8b-NOK 1,393,748,774.0023.5x-11.5x0.5x
Tue, 07 Feb 2023NOK 19.6bNOK 24.6b-NOK 1,229,922,050.0031.6x-16x0.8x
Thu, 05 Jan 2023NOK 19.5bNOK 27.6b-NOK 719,008,790.0032.9x-27.1x0.7x
Sat, 03 Dec 2022NOK 21.3bNOK 27.6b-NOK 713,346,180.0036.6x-29.9x0.8x
Mon, 31 Oct 2022NOK 18.4bNOK 23.6b-NOK 814,996,700.0034.1x-22.5x0.8x
Wed, 28 Sep 2022NOK 21.3bNOK 23.5b-NOK 882,285,931.005.9x-24.1x0.9x
Fri, 26 Aug 2022NOK 25.6bNOK 23.3b-NOK 868,351,255.008.2x-29.4x1.1x
Price to Earnings Ratio

-29.4x


Total Market Cap: NOK 25.6bTotal Earnings: -NOK 868,351,255.00Total Revenue: NOK 23.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Utilities Sector Price to Earnings3Y Average 81.1x202320242025
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 10.4x which is lower than its 3-year average PE of 81.0x.
  • The 3-year average PS ratio of 0.90x 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 10% 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 Market0.95%
Utilities-1.49%
Electric Utilities3.89%
Renewable Energy-2.45%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 1.6x.
    • Analysts are expecting annual earnings growth of 10.2%, 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 49.0x.
Forecasted Growth
  • Analysts are most optimistic on the Electric Utilities industry, expecting annual earnings growth of 10% 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 15% 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
SCATC ScatecNOK 103.203.3%
+NOK 524.4m		24.3%PE7.5x
ELMRA Elmera GroupNOK 36.254.5%
+NOK 169.3m		4.5%PE13x
CLOUD Cloudberry Clean EnergyNOK 13.502.4%
+NOK 101.6m		12.5%PE59.5x

Latest News

MGN
NOK 22.90
Magnora
7D
-1.7%
1Y
-8.0%
MPCES
NOK 10.10
MPC Energy Solutions
7D
-0.5%
1Y
-12.6%
ALT
NOK 0.075
Alternus Energy Group
7D
-24.8%
1Y
-97.5%
SCATC
NOK 103.20
Scatec
7D
3.3%
1Y
24.3%

Why Investors Shouldn't Be Surprised By Scatec ASA's (OB:SCATC) Low P/E

Jul 22
Why Investors Shouldn't Be Surprised By Scatec ASA's (OB:SCATC) Low P/E
SKAND
NOK 1.78
Skandia GreenPower
7D
-0.8%
1Y
74.0%

Skandia GreenPower AS' (OB:SKAND) Shares Bounce 31% But Its Business Still Trails The Industry

Jul 18
Skandia GreenPower AS' (OB:SKAND) Shares Bounce 31% But Its Business Still Trails The Industry
EAM
NOK 1.60
EAM Solar
7D
-0.2%
1Y
-96.1%
ENERG
NOK 0.099
Energeia
7D
-0.5%
1Y
-88.4%
NOFIN
NOK 0.014
Nordic Financials
7D
-1.4%
1Y
-99.1%
ELMRA
NOK 36.25
Elmera Group
7D
4.5%
1Y
4.5%
CLOUD
NOK 13.50
Cloudberry Clean Energy
7D
2.4%
1Y
12.5%