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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedMar 14, 2026
DataAggregated Company Financials
Companies7
  • 7D2.4%
  • 3M14.4%
  • 1Y38.0%
  • YTD8.9%

In the last week, Renewable Energy has been flat. As for the the longer term, the industry is up 35% over the past 12 months. As for the next few years, earnings are expected to grow by 2.5% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 14 Mar 2026NOK 25.1bNOK 4.4bNOK 896.9m68.3x28x5.7x
Mon, 09 Feb 2026NOK 23.8bNOK 4.3bNOK 852.3m47.8x27.9x5.5x
Wed, 07 Jan 2026NOK 22.6bNOK 4.4bNOK 683.3m50.4x33.1x5.1x
Fri, 05 Dec 2025NOK 21.8bNOK 4.4bNOK 686.6m50.3x31.8x4.9x
Sun, 02 Nov 2025NOK 22.8bNOK 5.7bNOK 586.0m19.1x38.9x4x
Tue, 30 Sep 2025NOK 20.5bNOK 4.5bNOK 2.2b6.1x9.2x4.5x
Thu, 28 Aug 2025NOK 21.6bNOK 4.6bNOK 2.2b6.4x9.6x4.7x
Sat, 26 Jul 2025NOK 21.4bNOK 5.3bNOK 2.0b7.6x10.6x4x
Mon, 23 Jun 2025NOK 19.8bNOK 5.4bNOK 2.3b6.5x8.5x3.7x
Wed, 21 May 2025NOK 19.7bNOK 5.4bNOK 2.3b6.4x8.5x3.7x
Fri, 18 Apr 2025NOK 17.4bNOK 5.0bNOK 1.5b9.1x11.3x3.5x
Sun, 16 Mar 2025NOK 17.5bNOK 5.0bNOK 1.5b9.6x11.4x3.5x
Tue, 11 Feb 2025NOK 17.8bNOK 5.0bNOK 1.4b7.6x12.4x3.6x
Thu, 09 Jan 2025NOK 18.3bNOK 5.0bNOK 2.0b6.3x9.4x3.6x
Sat, 07 Dec 2024NOK 18.2bNOK 5.0bNOK 2.0b6.1x9.3x3.6x
Mon, 04 Nov 2024NOK 18.6bNOK 7.0bNOK 1.9b6x9.6x2.7x
Wed, 02 Oct 2024NOK 17.1bNOK 4.7bNOK 34.1m42.3x503.1x3.7x
Fri, 30 Aug 2024NOK 16.8bNOK 4.7bNOK 50.2m41.5x334.7x3.6x
Sun, 28 Jul 2024NOK 18.0bNOK 4.4bNOK 645.8m20.9x27.9x4.1x
Tue, 25 Jun 2024NOK 17.9bNOK 4.4bNOK 651.4m20.2x27.4x4x
Thu, 23 May 2024NOK 15.6bNOK 4.4bNOK 753.0m14x20.7x3.6x
Sat, 20 Apr 2024NOK 14.2bNOK 4.0bNOK 682.6m13.5x20.8x3.6x
Mon, 18 Mar 2024NOK 13.9bNOK 3.9bNOK 721.4m13.4x19.3x3.5x
Wed, 14 Feb 2024NOK 14.5bNOK 4.2bNOK 895.8m12x16.1x3.5x
Fri, 12 Jan 2024NOK 15.9bNOK 4.0bNOK 94.8m6.9x167.5x3.9x
Sun, 10 Dec 2023NOK 16.0bNOK 4.0bNOK 89.1m6.5x179.8x4x
Tue, 07 Nov 2023NOK 14.1bNOK 4.0bNOK 90.2m6.8x156.4x3.5x
Thu, 05 Oct 2023NOK 13.5bNOK 3.7bNOK 400.1m134x33.8x3.6x
Sat, 02 Sep 2023NOK 14.8bNOK 3.7bNOK 402.2m161.5x36.8x4x
Mon, 31 Jul 2023NOK 17.2bNOK 3.5b-NOK 265,579,098.0014.3x-64.6x4.8x
Wed, 28 Jun 2023NOK 15.3bNOK 3.5b-NOK 263,771,119.0016x-57.9x4.4x
Fri, 26 May 2023NOK 16.0bNOK 3.5b-NOK 272,756,367.0015.1x-58.7x4.6x
Sun, 23 Apr 2023NOK 14.9bNOK 3.3b-NOK 1,371,650,305.0025.7x-10.9x4.5x
Tue, 21 Mar 2023NOK 14.3bNOK 3.7b-NOK 1,437,674,807.0025.3x-9.9x3.9x
Price to Earnings Ratio

-9.9x


Total Market Cap: NOK 14.3bTotal Earnings: -NOK 1,437,674,807.00Total Revenue: NOK 3.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 56.7x202420252026
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 27.8x which is lower than its 3-year average PE of 56.7x.
  • The 3-year average PS ratio of 4.1x 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 6.0% 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 Market2.29%
Utilities2.68%
Renewable Energy2.38%
Renewable Energy2.38%
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 56.7x.
    • Analysts are expecting annual earnings growth of 2.5%, which is higher than its past year's earnings decline of 36.5% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 56.7x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 2.5% over the next 5 years.
  • This is better than its past earnings decline of 36% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 2.5% 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 119.302.5%
+NOK 463.8m		50.4%PE18.3x
MGN MagnoraNOK 22.708.6%
+NOK 115.0m		1.6%PE72.2x
CLOUD Cloudberry Clean EnergyNOK 13.100.3%
+NOK 12.7m		23.8%PE68.3x
ENERG EnergeiaNOK 7.622.1%
+NOK 1.5m		-64.6%PS1.1x

Latest News

MGN
NOK 22.70
Magnora
7D
8.6%
1Y
1.6%

MGN: Nordic High Capacity Data Center Projects Will Support Future Upside

Analysts have adjusted their Magnora price target from NOK 32.64 to NOK 31.04, reflecting updated views on future growth, profitability, and a slightly lower discount rate applied to the company’s cash flows. What's in the News Magnora ASA has secured land for a new 100 MW data center development in northwestern Norway, located next to a substation where three 420 kV power lines meet, targeting customers with high redundancy and capacity needs (Key Developments).
SCATC
NOK 119.30
Scatec
7D
2.5%
1Y
50.4%

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

Analysts have kept their Scatec price target broadly unchanged at around NOK 130, reflecting updated model inputs for discount rate, revenue growth, profit margin, and future P/E, without a clear shift in the overall valuation view. What's in the News Reached financial close and started construction of the 130 MW Barzalosa solar plant in Colombia, backed by a 15 year PPA with BTG Pactual Comercializadora de Energía that is expected to cover about 85% of output, with total capex of around US$121 million financed at roughly 70% leverage (Key Developments).
CLOUD
NOK 13.10
Cloudberry Clean Energy
7D
0.3%
1Y
23.8%
EAM
NOK 1.08
EAM Solar
7D
-14.3%
1Y
-92.9%
ENERG
NOK 7.62
Energeia
7D
2.1%
1Y
-64.6%
MPCES
NOK 13.05
MPC Energy Solutions
7D
-1.5%
1Y
48.3%