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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedFeb 24, 2026
DataAggregated Company Financials
Companies7
  • 7D2.9%
  • 3M14.5%
  • 1Y27.0%
  • YTD7.5%

The Renewable Energy industry is up 2.9% in the last week, with Scatec up 3.5%. This means that the industry has gained 28% over the past year. Earnings are forecast to grow by 5.4% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026NOK 24.8bNOK 4.4bNOK 866.2m40.5x28.6x5.7x
Thu, 22 Jan 2026NOK 24.3bNOK 4.4bNOK 684.8m51.3x35.4x5.5x
Sat, 20 Dec 2025NOK 22.4bNOK 4.4bNOK 681.8m50.8x32.9x5.1x
Mon, 17 Nov 2025NOK 21.8bNOK 4.4bNOK 687.1m49.6x31.7x4.9x
Wed, 15 Oct 2025NOK 21.1bNOK 4.5bNOK 2.2b6x9.5x4.6x
Fri, 12 Sep 2025NOK 21.2bNOK 4.5bNOK 2.2b6.3x9.5x4.7x
Sun, 10 Aug 2025NOK 21.0bNOK 5.3bNOK 2.1b7.5x10.2x4x
Tue, 08 Jul 2025NOK 21.5bNOK 5.4bNOK 2.3b7.1x9.2x4x
Thu, 05 Jun 2025NOK 19.2bNOK 5.4bNOK 2.3b6.2x8.2x3.6x
Sat, 03 May 2025NOK 18.4bNOK 5.0bNOK 1.5b9.7x12.3x3.7x
Mon, 31 Mar 2025NOK 18.0bNOK 5.0bNOK 1.5b9.8x11.7x3.6x
Wed, 26 Feb 2025NOK 18.0bNOK 5.0bNOK 1.6b9.9x11.6x3.6x
Fri, 24 Jan 2025NOK 17.5bNOK 5.0bNOK 2.0b6.1x9x3.5x
Sun, 22 Dec 2024NOK 18.1bNOK 5.0bNOK 2.0b6.4x9.3x3.6x
Tue, 19 Nov 2024NOK 17.9bNOK 5.0bNOK 2.0b6.1x9.2x3.5x
Thu, 17 Oct 2024NOK 18.1bNOK 4.8bNOK 326.0m22.3x55.6x3.8x
Sat, 14 Sep 2024NOK 17.2bNOK 4.7bNOK 33.4m42.7x516.1x3.7x
Mon, 12 Aug 2024NOK 17.6bNOK 4.4bNOK 609.0m20.7x28.9x4x
Wed, 10 Jul 2024NOK 19.1bNOK 4.4bNOK 829.3m19.6x23x4.3x
Fri, 07 Jun 2024NOK 17.5bNOK 4.4bNOK 649.0m19.6x27x4x
Sun, 05 May 2024NOK 15.4bNOK 4.3bNOK 751.7m13.8x20.4x3.5x
Tue, 02 Apr 2024NOK 14.9bNOK 4.0bNOK 701.2m14.4x21.2x3.8x
Thu, 29 Feb 2024NOK 13.5bNOK 4.0bNOK 728.4m13x18.5x3.4x
Sat, 27 Jan 2024NOK 15.9bNOK 5.5bNOK 898.1m13.1x17.7x2.9x
Mon, 25 Dec 2023NOK 16.3bNOK 4.0bNOK 95.7m6.8x170.7x4.1x
Wed, 22 Nov 2023NOK 14.5bNOK 4.0bNOK 82.7m6.5x175x3.6x
Fri, 20 Oct 2023NOK 13.1bNOK 3.7bNOK 398.6m139.9x32.9x3.5x
Sun, 17 Sep 2023NOK 14.4bNOK 3.7bNOK 400.7m156.3x36x3.9x
Tue, 15 Aug 2023NOK 16.2bNOK 3.6b-NOK 278,333,925.0013x-58.4x4.6x
Thu, 13 Jul 2023NOK 16.3bNOK 3.5b-NOK 255,710,734.0034.3x-63.8x4.6x
Sat, 10 Jun 2023NOK 17.0bNOK 3.5b-NOK 262,942,876.0016.8x-64.8x4.9x
Mon, 08 May 2023NOK 15.8bNOK 3.4b-NOK 401,669,959.0025.8x-39.4x4.6x
Wed, 05 Apr 2023NOK 15.9bNOK 3.7b-NOK 1,455,213,740.0027.9x-10.9x4.3x
Fri, 03 Mar 2023NOK 15.2bNOK 3.7b-NOK 1,435,451,159.0026.4x-10.6x4.1x
Price to Earnings Ratio

-10.6x


Total Market Cap: NOK 15.2bTotal Earnings: -NOK 1,435,451,159.00Total Revenue: NOK 3.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 56.1x202420252026
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 28.4x which is lower than its 3-year average PE of 56.0x.
  • 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 5.8% 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 Market2.65%
Utilities1.59%
Renewable Energy2.90%
Renewable Energy2.90%
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 56.0x.
    • Analysts are expecting annual earnings growth of 5.4%, which is higher than its past year's earnings decline of 28.3% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 56.0x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 5.4% over the next 5 years.
  • This is better than its past earnings decline of 28% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 5.4% 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 120.103.5%
+NOK 655.7m		49.9%PE18.4x
CLOUD Cloudberry Clean EnergyNOK 12.001.7%
+NOK 63.6m		2.7%PE62.6x

Latest News

SCATC
NOK 120.10
Scatec
7D
3.5%
1Y
49.9%

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

Analysts have slightly reduced their Scatec price target from NOK130.13 to about NOK129.57. This reflects updated views that take into account a higher discount rate, a revised revenue growth profile, a lower profit margin outlook, and a higher assumed future P/E multiple.
CLOUD
NOK 12.00
Cloudberry Clean Energy
7D
1.7%
1Y
2.7%
EAM
NOK 1.36
EAM Solar
7D
-15.0%
1Y
-86.1%
NOFIN
NOK 1.69
Nordic Financials
7D
-2.1%
1Y
-95.6%
MGN
NOK 20.95
Magnora
7D
-0.7%
1Y
-12.3%
ENERG
NOK 7.70
Energeia
7D
-3.7%
1Y
-76.3%
MPCES
NOK 13.40
MPC Energy Solutions
7D
-0.7%
1Y
46.9%