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Norwegian (OSEAX) Utilities Sector Analysis

UpdatedFeb 03, 2026
DataAggregated Company Financials
Companies9
  • 7D-2.9%
  • 3M10.7%
  • 1Y17.6%
  • YTD3.9%

Over the last 7 days, the Utilities industry has dropped 2.9%, driven by a pullback from Scatec of 5.6%. In the past year, the industry has gained 18%. Looking forward, earnings are forecast to grow by 27% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Feb 2026NOK 28.5bNOK 17.9bNOK 1.2b16.1x24.4x1.6x
Thu, 01 Jan 2026NOK 27.1bNOK 16.4bNOK 997.2m16.6x27.1x1.7x
Sat, 29 Nov 2025NOK 26.0bNOK 16.4bNOK 1.0b15.8x25.9x1.6x
Mon, 27 Oct 2025NOK 26.1bNOK 16.1bNOK 2.5b12.2x10.4x1.6x
Wed, 24 Sep 2025NOK 24.6bNOK 16.1bNOK 2.5b9.5x9.7x1.5x
Fri, 22 Aug 2025NOK 25.0bNOK 16.1bNOK 2.6b9.4x9.7x1.5x
Sun, 20 Jul 2025NOK 25.9bNOK 17.0bNOK 2.6b12.1x10.1x1.5x
Tue, 17 Jun 2025NOK 23.5bNOK 16.9bNOK 2.7b10.1x8.8x1.4x
Thu, 15 May 2025NOK 23.9bNOK 17.1bNOK 2.7b11.4x9x1.4x
Sat, 12 Apr 2025NOK 20.6bNOK 17.5bNOK 1.9b10.6x10.8x1.2x
Mon, 10 Mar 2025NOK 20.4bNOK 17.4bNOK 1.9b9.7x10.8x1.2x
Wed, 05 Feb 2025NOK 21.3bNOK 19.3bNOK 1.6b10x13.2x1.1x
Fri, 03 Jan 2025NOK 23.0bNOK 19.3bNOK 2.2b10.1x10.5x1.2x
Sun, 01 Dec 2024NOK 22.5bNOK 19.3bNOK 2.2b9.9x10.2x1.2x
Tue, 29 Oct 2024NOK 22.5bNOK 19.8bNOK 569.2m18.9x39.5x1.1x
Thu, 26 Sep 2024NOK 20.5bNOK 19.7bNOK 271.1m30.3x75.7x1x
Sat, 24 Aug 2024NOK 20.3bNOK 19.6bNOK 265.4m38.8x76.4x1x
Mon, 22 Jul 2024NOK 21.4bNOK 20.9bNOK 834.2m19.9x25.6x1x
Wed, 19 Jun 2024NOK 21.4bNOK 20.9bNOK 838.4m18.3x25.5x1x
Fri, 17 May 2024NOK 18.9bNOK 20.9bNOK 940.5m17.1x20.1x0.9x
Sun, 14 Apr 2024NOK 18.9bNOK 23.1bNOK 862.8m18.7x21.9x0.8x
Tue, 12 Mar 2024NOK 17.1bNOK 23.3bNOK 783.2m16.4x21.9x0.7x
Thu, 08 Feb 2024NOK 18.0bNOK 26.9bNOK 824.6m17.7x21.8x0.7x
Sat, 06 Jan 2024NOK 19.3bNOK 26.8bNOK 23.2m30.7x829.9x0.7x
Mon, 04 Dec 2023NOK 17.8bNOK 26.8bNOK 19.3m25.5x922.7x0.7x
Wed, 01 Nov 2023NOK 15.5bNOK 30.5bNOK 266.2m255.6x58.1x0.5x
Fri, 29 Sep 2023NOK 16.5bNOK 30.4bNOK 276.7m280.1x59.6x0.5x
Sun, 27 Aug 2023NOK 17.8bNOK 30.5bNOK 289.3m333.5x61.7x0.6x
Tue, 25 Jul 2023NOK 20.1bNOK 31.0b-NOK 296,568,652.0025.8x-67.7x0.6x
Thu, 22 Jun 2023NOK 18.7bNOK 30.9b-NOK 305,238,186.0023x-61.2x0.6x
Sat, 20 May 2023NOK 19.0bNOK 30.9b-NOK 327,987,500.0021.5x-58.1x0.6x
Mon, 17 Apr 2023NOK 18.5bNOK 29.8b-NOK 1,414,442,909.0026x-13.1x0.6x
Wed, 15 Mar 2023NOK 16.4bNOK 29.8b-NOK 1,393,416,409.0023.4x-11.8x0.6x
Fri, 10 Feb 2023NOK 19.9bNOK 27.6b-NOK 1,227,237,186.0033.6x-16.2x0.7x
Price to Earnings Ratio

-16.2x


Total Market Cap: NOK 19.9bTotal Earnings: -NOK 1,227,237,186.00Total Revenue: NOK 27.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Utilities Sector Price to Earnings3Y Average 88.2x202420252026
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 24.4x which is lower than its 3-year average PE of 88.2x.
  • The 3-year average PS ratio of 1.0x 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 13% 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 Market0.97%
Utilities-2.89%
Electric Utilities3.88%
Renewable Energy-4.10%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 55.3x.
    • Analysts are expecting annual earnings growth of 27.9%, which is higher than its past year's earnings decline of 20.2% 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 2.3x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings decline of 20% 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 40.303.9%
+NOK 164.0m		27.7%PE14.7x
MGN MagnoraNOK 21.153.9%
+NOK 51.1m		-18.3%PS26.2x
SKAND Skandia GreenPowerNOK 1.734.2%
+NOK 8.4m		94.3%PE13.7x
CLOUD Cloudberry Clean EnergyNOK 12.220.2%
+NOK 6.4m		0.7%PE79.3x
EAM EAM SolarNOK 2.2912.2%
+NOK 5.1m		39.3%PS3.3x

Latest News

SCATC
NOK 114.40
Scatec
7D
-5.6%
1Y
48.0%
EAM
NOK 2.29
EAM Solar
7D
12.2%
1Y
39.3%
CLOUD
NOK 12.22
Cloudberry Clean Energy
7D
0.2%
1Y
0.7%
NOFIN
NOK 1.73
Nordic Financials
7D
-2.9%
1Y
-97.0%
MGN
NOK 21.15
Magnora
7D
3.9%
1Y
-18.3%
ENERG
NOK 7.47
Energeia
7D
-0.4%
1Y
-95.3%
MPCES
NOK 13.55
MPC Energy Solutions
7D
-0.4%
1Y
44.8%
ELMRA
NOK 40.30
Elmera Group
7D
3.9%
1Y
27.7%
SKAND
NOK 1.73
Skandia GreenPower
7D
4.2%
1Y
94.3%