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Norwegian (OSEAX) Utilities Sector Analysis

UpdatedDec 02, 2025
DataAggregated Company Financials
Companies9
  • 7D1.3%
  • 3M-3.9%
  • 1Y3.4%
  • YTD-2.0%

In the last week, the Utilities industry is up 3.1%, with Cloudberry Clean Energy up 2.7%. In the same time, Nordic Financials was down 8.0%. This takes the industry's 12 month performance to a gain of 5.4%. As for the next few years, earnings are expected to grow by 26% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 02 Dec 2025NOK 25.5bNOK 16.4bNOK 1.0b15.5x25.5x1.6x
Thu, 30 Oct 2025NOK 26.6bNOK 16.1bNOK 2.5b12.1x10.5x1.6x
Sat, 27 Sep 2025NOK 24.3bNOK 16.1bNOK 2.5b9.5x9.6x1.5x
Mon, 25 Aug 2025NOK 25.5bNOK 16.1bNOK 2.6b9.3x10x1.6x
Wed, 23 Jul 2025NOK 26.5bNOK 16.9bNOK 2.6b12x10.3x1.6x
Fri, 20 Jun 2025NOK 23.6bNOK 16.9bNOK 2.7b10.9x8.9x1.4x
Sun, 18 May 2025NOK 23.6bNOK 16.9bNOK 2.6b10.9x8.9x1.4x
Tue, 15 Apr 2025NOK 21.2bNOK 17.5bNOK 1.9b10.7x11.1x1.2x
Thu, 13 Mar 2025NOK 20.9bNOK 17.4bNOK 1.9b10.3x11x1.2x
Sat, 08 Feb 2025NOK 21.4bNOK 19.3bNOK 1.7b10.3x12.7x1.1x
Mon, 06 Jan 2025NOK 23.2bNOK 19.3bNOK 2.2b10.2x10.6x1.2x
Wed, 04 Dec 2024NOK 22.3bNOK 19.3bNOK 2.2b9.9x10.1x1.2x
Fri, 01 Nov 2024NOK 22.2bNOK 19.8bNOK 569.0m18.3x39x1.1x
Sun, 29 Sep 2024NOK 20.9bNOK 19.7bNOK 272.1m31.2x76.7x1.1x
Tue, 27 Aug 2024NOK 20.4bNOK 19.8bNOK 264.4m38.9x77.1x1x
Thu, 25 Jul 2024NOK 21.3bNOK 20.9bNOK 833.1m20x25.5x1x
Sat, 22 Jun 2024NOK 21.6bNOK 20.9bNOK 838.6m19.3x25.7x1x
Mon, 20 May 2024NOK 18.9bNOK 20.9bNOK 940.7m17.1x20.1x0.9x
Wed, 17 Apr 2024NOK 18.1bNOK 23.1bNOK 862.0m18x20.9x0.8x
Fri, 15 Mar 2024NOK 17.7bNOK 23.3bNOK 782.3m17.5x22.7x0.8x
Sun, 11 Feb 2024NOK 17.9bNOK 26.9bNOK 825.0m17.8x21.7x0.7x
Tue, 09 Jan 2024NOK 19.2bNOK 26.8bNOK 22.3m30.1x857.8x0.7x
Thu, 07 Dec 2023NOK 18.9bNOK 26.8bNOK 16.6m25.3x1138.2x0.7x
Sat, 04 Nov 2023NOK 17.4bNOK 26.8b-NOK 62,187,169.006.9x-279.3x0.6x
Mon, 02 Oct 2023NOK 16.8bNOK 30.4bNOK 276.8m286.1x60.7x0.6x
Wed, 30 Aug 2023NOK 17.7bNOK 30.5bNOK 289.5m328.5x61.2x0.6x
Fri, 28 Jul 2023NOK 20.0bNOK 31.0b-NOK 296,452,038.0026.1x-67.5x0.6x
Sun, 25 Jun 2023NOK 17.9bNOK 30.9b-NOK 305,818,551.0022x-58.5x0.6x
Tue, 23 May 2023NOK 18.7bNOK 30.9b-NOK 330,449,354.0021.9x-56.6x0.6x
Thu, 20 Apr 2023NOK 17.4bNOK 29.8b-NOK 1,417,552,474.0025.7x-12.3x0.6x
Sat, 18 Mar 2023NOK 16.2bNOK 29.8b-NOK 1,394,742,263.0023.5x-11.6x0.5x
Mon, 13 Feb 2023NOK 19.4bNOK 27.6b-NOK 1,225,960,944.0034.2x-15.8x0.7x
Wed, 11 Jan 2023NOK 19.8bNOK 27.6b-NOK 719,128,332.0032.6x-27.6x0.7x
Fri, 09 Dec 2022NOK 20.7bNOK 27.6b-NOK 716,794,949.0036.1x-28.9x0.8x
Price to Earnings Ratio

-28.9x


Total Market Cap: NOK 20.7bTotal Earnings: -NOK 716,794,949.00Total Revenue: NOK 27.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Utilities Sector Price to Earnings3Y Average 85x202320242025
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 25.9x which is lower than its 3-year average PE of 85.0x.
  • The 3-year average PS ratio of 0.97x is lower than the industry's current PS ratio of 1.6x.
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 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 Utilities sector?

NO Market1.82%
Utilities1.30%
Electric Utilities2.96%
Renewable Energy1.00%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 52.3x.
    • Analysts are expecting annual earnings growth of 27.0%, which is higher than its past year's earnings decline of 53.0% per year.
  • Investors are most pessimistic about the Electric Utilities industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.0x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% over the next 5 years.
  • This is better than its past earnings decline of 53% per year.
  • In contrast, the Electric Utilities industry is expected to see its earnings grow by 20% 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 36.304.0%
+NOK 153.1m		-8.6%PE13.3x
CLOUD Cloudberry Clean EnergyNOK 12.762.9%
+NOK 114.5m		13.9%PE82.8x
MGN MagnoraNOK 19.501.9%
+NOK 23.0m		-19.1%PS24.2x
MPCES MPC Energy SolutionsNOK 13.002.8%
+NOK 7.8m		40.7%PS2.6x

Latest News

NOFIN
NOK 1.80
Nordic Financials
7D
-8.5%
1Y
-97.2%
SKAND
NOK 1.68
Skandia GreenPower
7D
-0.3%
1Y
58.5%
SCATC
NOK 99.05
Scatec
7D
-1.4%
1Y
24.0%

SCATC: New Power Contracts Will Drive Long-Term Earnings Momentum

Analysts have raised their price target for Scatec to NOK 121. This reflects increased confidence in the company's outlook following a reassessment of profit margins and future valuation metrics.
ELMRA
NOK 36.30
Elmera Group
7D
4.0%
1Y
-8.6%
MPCES
NOK 13.00
MPC Energy Solutions
7D
2.8%
1Y
40.7%
CLOUD
NOK 12.76
Cloudberry Clean Energy
7D
2.9%
1Y
13.9%

There Are Some Holes In Cloudberry Clean Energy's (OB:CLOUD) Solid Earnings Release

Nov 12
There Are Some Holes In Cloudberry Clean Energy's (OB:CLOUD) Solid Earnings Release
MGN
NOK 19.50
Magnora
7D
1.9%
1Y
-19.1%
EAM
NOK 0.84
EAM Solar
7D
-11.2%
1Y
-74.0%
ENERG
NOK 7.20
Energeia
7D
-7.1%
1Y
-95.4%