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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies7
  • 7D2.0%
  • 3M10.9%
  • 1Y24.5%
  • YTD7.9%

In the last week, the Renewable Energy industry is up 2.0%, with Scatec up 3.6%. In the last 12 months, the industry was up 24%. Earnings are forecast to grow by 22% annually.

Industry Valuation and Performance

Has the Norwegian Renewable Energy Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026NOK 24.8bNOK 4.4bNOK 687.9m50.4x36x5.6x
Tue, 23 Dec 2025NOK 22.2bNOK 4.4bNOK 682.0m50.5x32.6x5x
Thu, 20 Nov 2025NOK 21.6bNOK 4.4bNOK 685.7m49.7x31.5x4.9x
Sat, 18 Oct 2025NOK 20.9bNOK 4.5bNOK 2.2b6x9.4x4.6x
Mon, 15 Sep 2025NOK 21.1bNOK 4.5bNOK 2.2b6.3x9.5x4.6x
Wed, 13 Aug 2025NOK 20.6bNOK 5.3bNOK 2.1b7.3x10x3.9x
Fri, 11 Jul 2025NOK 21.7bNOK 5.4bNOK 2.3b7.2x9.3x4x
Sun, 08 Jun 2025NOK 19.3bNOK 5.4bNOK 2.3b6.2x8.2x3.6x
Tue, 06 May 2025NOK 18.5bNOK 5.0bNOK 1.5b9.7x12.5x3.7x
Thu, 03 Apr 2025NOK 17.3bNOK 5.0bNOK 1.5b9.3x11.2x3.5x
Sat, 01 Mar 2025NOK 17.9bNOK 5.0bNOK 1.6b9.8x11.6x3.6x
Mon, 27 Jan 2025NOK 17.4bNOK 5.0bNOK 2.0b6x8.9x3.4x
Wed, 25 Dec 2024NOK 18.3bNOK 5.0bNOK 2.0b6.4x9.4x3.6x
Fri, 22 Nov 2024NOK 17.5bNOK 5.0bNOK 2.0b5.9x9x3.5x
Sun, 20 Oct 2024NOK 18.3bNOK 4.7bNOK 318.9m22.8x57.3x3.9x
Tue, 17 Sep 2024NOK 17.3bNOK 4.7bNOK 34.2m42.9x506.4x3.7x
Thu, 15 Aug 2024NOK 17.9bNOK 4.4bNOK 609.9m20.9x29.4x4.1x
Sat, 13 Jul 2024NOK 19.8bNOK 4.4bNOK 827.7m20.2x24x4.5x
Mon, 10 Jun 2024NOK 17.2bNOK 4.4bNOK 648.4m19.2x26.5x3.9x
Wed, 08 May 2024NOK 15.5bNOK 4.4bNOK 751.3m13.9x20.6x3.6x
Fri, 05 Apr 2024NOK 14.9bNOK 4.0bNOK 685.6m14.3x21.8x3.8x
Sun, 03 Mar 2024NOK 14.1bNOK 4.0bNOK 723.9m13.7x19.5x3.6x
Tue, 30 Jan 2024NOK 15.3bNOK 4.0bNOK 94.1m6.6x162.6x3.8x
Thu, 28 Dec 2023NOK 16.9bNOK 4.0bNOK 96.9m7.3x174.7x4.2x
Sat, 25 Nov 2023NOK 14.5bNOK 4.0bNOK 82.4m6.5x175.3x3.6x
Mon, 23 Oct 2023NOK 12.8bNOK 3.7bNOK 398.3m136.3x32.2x3.5x
Wed, 20 Sep 2023NOK 14.4bNOK 3.7bNOK 400.9m157.7x35.9x3.9x
Fri, 18 Aug 2023NOK 16.1bNOK 3.8bNOK 10.7m5.7x1513.9x4.2x
Sun, 16 Jul 2023NOK 16.8bNOK 3.5b-NOK 255,491,194.0034.5x-65.6x4.7x
Tue, 13 Jun 2023NOK 16.5bNOK 3.5b-NOK 263,309,781.0016.4x-62.5x4.7x
Thu, 11 May 2023NOK 15.2bNOK 3.4b-NOK 400,851,497.0026.4x-38x4.4x
Sat, 08 Apr 2023NOK 15.8bNOK 3.7b-NOK 1,458,092,618.0027.2x-10.8x4.2x
Mon, 06 Mar 2023NOK 15.5bNOK 3.7b-NOK 1,432,326,319.0027.3x-10.8x4.2x
Wed, 01 Feb 2023NOK 17.7bNOK 3.6b-NOK 987,245,273.0057.4x-18x4.9x
Price to Earnings Ratio

-18x


Total Market Cap: NOK 17.7bTotal Earnings: -NOK 987,245,273.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 54.9x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Renewable Energy 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 36.0x which is lower than its 3-year average PE of 54.9x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 5.6x.
Past Earnings Growth
  • Total earnings for the Renewable Energy industry have gone up over the last three years, and the industry is now profitable. Revenues have grown 6.8% per year.
  • This means that more sales are being generated by the industry overall, and subsequently profits are increasing too.

Industry Trends

Which industries have driven the changes within the Norwegian Utilities industry?

NO Market-0.86%
Utilities2.16%
Renewable Energy1.95%
Renewable Energy1.95%
Independent Power Producers and Energy Traders0%0
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 54.9x.
    • Analysts are expecting annual earnings growth of 21.8%, which is higher than its past year's earnings decline of 53.0% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 54.9x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 22% over the next 5 years.
  • This is better than its past earnings decline of 53% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 22% 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 120.503.6%
+NOK 667.5m		59.5%PE21.5x
EAM EAM SolarNOK 2.1525.0%
+NOK 8.7m		32.7%PS2.6x
MPCES MPC Energy SolutionsNOK 13.502.7%
+NOK 7.8m		36.6%PS2.8x
ENERG EnergeiaNOK 7.954.6%
+NOK 3.2m		-94.7%PS1.2x
NOFIN Nordic FinancialsNOK 1.781.5%
+NOK 504.2k		-95.9%PB1.1x

Latest News

CLOUD
NOK 12.20
Cloudberry Clean Energy
7D
-3.5%
1Y
3.4%
SCATC
NOK 120.50
Scatec
7D
3.6%
1Y
59.5%

SCATC: Long-Term PPAs And New African Projects Will Support Future Cash Flows

Analysts have raised their fair value estimate for Scatec from NOK 121.14 to NOK 123.25, reflecting updated views on discount rates, revenue growth, profit margins and future P/E assumptions. What's in the News Signed a 25 year, USD denominated pay as produced PPA with the Egyptian Electricity Transmission Company for a 1.95 GW solar and 3.9 GWh BESS hybrid system in Egypt, plus two standalone BESS projects, described as the largest combined solar and storage installation in Africa and the largest investment in Scatec's history (Client Announcements).
NOFIN
NOK 1.78
Nordic Financials
7D
1.5%
1Y
-95.9%
MGN
NOK 20.10
Magnora
7D
-5.4%
1Y
-21.6%
ENERG
NOK 7.95
Energeia
7D
4.6%
1Y
-94.7%
MPCES
NOK 13.50
MPC Energy Solutions
7D
2.7%
1Y
36.6%
EAM
NOK 2.15
EAM Solar
7D
25.0%
1Y
32.7%