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Norwegian (OSEAX) Utilities Sector Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies9
  • 7D-0.6%
  • 3M11.0%
  • 1Y8.0%
  • YTD4.4%

The Utilities industry has stayed flat over the last week. As for the the longer term, the industry is up 5.1% over the past 12 months. Looking forward, earnings are forecast to decline by 1.2% per year.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025NOK 24.9bNOK 16.1bNOK 2.5b9.7x9.8x1.5x
Sat, 16 Aug 2025NOK 24.6bNOK 16.9bNOK 2.4b12.9x10.4x1.5x
Mon, 14 Jul 2025NOK 25.6bNOK 16.9bNOK 2.7b12.4x9.6x1.5x
Wed, 11 Jun 2025NOK 23.3bNOK 16.9bNOK 2.7b11.7x8.8x1.4x
Fri, 09 May 2025NOK 23.6bNOK 17.5bNOK 1.9b11x12.7x1.3x
Sun, 06 Apr 2025NOK 20.4bNOK 17.5bNOK 1.9b9.9x10.7x1.2x
Tue, 04 Mar 2025NOK 21.2bNOK 17.4bNOK 1.9b9.8x11.1x1.2x
Thu, 30 Jan 2025NOK 22.3bNOK 19.3bNOK 2.2b10x10.1x1.2x
Sat, 28 Dec 2024NOK 22.6bNOK 19.3bNOK 2.2b10x10.3x1.2x
Mon, 25 Nov 2024NOK 22.3bNOK 19.3bNOK 2.2b10x10.1x1.2x
Wed, 23 Oct 2024NOK 22.4bNOK 19.8bNOK 556.2m17.2x40.2x1.1x
Fri, 20 Sep 2024NOK 20.7bNOK 19.7bNOK 272.3m31.4x75.8x1x
Sun, 18 Aug 2024NOK 21.4bNOK 19.9bNOK 468.6m31.6x45.6x1.1x
Tue, 16 Jul 2024NOK 23.3bNOK 20.9bNOK 1.0b18.7x23x1.1x
Thu, 13 Jun 2024NOK 20.5bNOK 20.9bNOK 837.2m17.8x24.5x1x
Sat, 11 May 2024NOK 19.4bNOK 20.9bNOK 939.3m17.5x20.7x0.9x
Mon, 08 Apr 2024NOK 18.8bNOK 23.1bNOK 864.2m18.6x21.7x0.8x
Wed, 06 Mar 2024NOK 17.8bNOK 23.3bNOK 783.5m17.2x22.7x0.8x
Fri, 02 Feb 2024NOK 19.7bNOK 26.9bNOK 825.8m19.9x23.9x0.7x
Sun, 31 Dec 2023NOK 20.6bNOK 26.8bNOK 24.3m31.1x850.9x0.8x
Tue, 28 Nov 2023NOK 17.5bNOK 26.8bNOK 10.7m25x1629.4x0.7x
Thu, 26 Oct 2023NOK 15.4bNOK 30.4bNOK 272.2m260.9x56.6x0.5x
Sat, 23 Sep 2023NOK 17.0bNOK 30.4bNOK 276.2m301.9x61.6x0.6x
Mon, 21 Aug 2023NOK 18.3bNOK 30.4b-NOK 110,798,784.00161.8x-165.5x0.6x
Wed, 19 Jul 2023NOK 19.0bNOK 31.0b-NOK 296,863,117.0025.3x-64x0.6x
Fri, 16 Jun 2023NOK 18.6bNOK 30.9b-NOK 303,339,920.0022.7x-61.2x0.6x
Sun, 14 May 2023NOK 18.2bNOK 30.9b-NOK 326,499,094.0020.3x-55.8x0.6x
Tue, 11 Apr 2023NOK 17.9bNOK 29.8b-NOK 1,415,539,567.0026.3x-12.6x0.6x
Thu, 09 Mar 2023NOK 16.5bNOK 29.8b-NOK 1,393,136,691.0024.3x-11.9x0.6x
Sat, 04 Feb 2023NOK 20.0bNOK 27.6b-NOK 723,609,639.0031.6x-27.6x0.7x
Mon, 02 Jan 2023NOK 19.5bNOK 27.6b-NOK 715,580,845.0033x-27.2x0.7x
Wed, 30 Nov 2022NOK 20.5bNOK 27.5b-NOK 705,479,936.0035.8x-29x0.7x
Fri, 28 Oct 2022NOK 18.6bNOK 23.6b-NOK 813,949,583.0034.2x-22.8x0.8x
Sun, 25 Sep 2022NOK 21.8bNOK 23.5b-NOK 880,959,849.005.7x-24.8x0.9x
Price to Earnings Ratio

-24.8x


Total Market Cap: NOK 21.8bTotal Earnings: -NOK 880,959,849.00Total Revenue: NOK 23.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Utilities Sector Price to Earnings3Y Average 82.2x202320242025
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 82.2x.
  • The 3-year average PS ratio of 0.91x 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 Market0.064%
Utilities-0.59%
Electric Utilities2.77%
Renewable Energy-1.17%
Industry PE
  • Investors are most optimistic about the Electric Utilities industry which is trading above its 3-year average PE ratio of 1.7x.
    • 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 49.9x.
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 decline by 4.2% 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
ELMRA Elmera GroupNOK 34.703.0%
+NOK 109.2m		6.3%PE12.9x
MGN MagnoraNOK 22.700.2%
+NOK 3.2m		-6.2%PE6.1x
MPCES MPC Energy SolutionsNOK 8.880.9%
+NOK 1.8m		-27.8%PS1.8x

Latest News

EAM
NOK 1.48
EAM Solar
7D
-16.1%
1Y
-87.7%
CLOUD
NOK 13.46
Cloudberry Clean Energy
7D
-1.6%
1Y
12.2%
ENERG
NOK 0.05
Energeia
7D
-26.5%
1Y
-93.2%
SCATC
NOK 102.30
Scatec
7D
-1.1%
1Y
25.7%
ELMRA
NOK 34.70
Elmera Group
7D
3.0%
1Y
6.3%
SKAND
NOK 1.76
Skandia GreenPower
7D
-0.6%
1Y
38.6%
MPCES
NOK 8.88
MPC Energy Solutions
7D
0.9%
1Y
-27.8%
MGN
NOK 22.70
Magnora
7D
0.2%
1Y
-6.2%
NOFIN
NOK 0.012
Nordic Financials
7D
-0.8%
1Y
-96.2%