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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedJun 10, 2026
DataAggregated Company Financials
Companies7
  • 7D-5.7%
  • 3M-12.0%
  • 1Y10.2%
  • YTD-4.5%

Over the last 7 days, the Renewable Energy industry has dropped 5.7%, driven by pullbacks in Scatec and Magnora of 3.9% and 23%, respectively. On the other hand EAM Solar is actually up 86%. In the past year, the industry has gained 10%. Looking forward, earnings are forecast to grow by 50% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 10 Jun 2026NOK 22.4bNOK 4.4bNOK 32.9m23.1x681.1x5.1x
Fri, 08 May 2026NOK 23.0bNOK 3.5b-NOK 65,208,427.9665.2x-352.2x6.5x
Sun, 05 Apr 2026NOK 27.7bNOK 4.4bNOK 835.5m66.1x33.1x6.3x
Tue, 03 Mar 2026NOK 25.3bNOK 4.4bNOK 899.6m64.1x28.1x5.7x
Thu, 29 Jan 2026NOK 24.7bNOK 4.4bNOK 690.2m50.8x35.8x5.6x
Sat, 27 Dec 2025NOK 22.5bNOK 4.4bNOK 683.9m51.5x33x5.1x
Mon, 24 Nov 2025NOK 21.2bNOK 4.4bNOK 684.7m49.4x30.9x4.8x
Wed, 22 Oct 2025NOK 21.0bNOK 4.5bNOK 2.2b6x9.5x4.6x
Fri, 19 Sep 2025NOK 20.8bNOK 4.5bNOK 2.2b6.2x9.4x4.6x
Sun, 17 Aug 2025NOK 20.4bNOK 5.3bNOK 2.1b7.3x10x3.9x
Tue, 15 Jul 2025NOK 21.6bNOK 5.4bNOK 2.3b7.1x9.2x4x
Thu, 12 Jun 2025NOK 19.6bNOK 5.4bNOK 2.3b6.4x8.4x3.7x
Sat, 10 May 2025NOK 19.4bNOK 5.5bNOK 2.4b6.2x8.2x3.5x
Mon, 07 Apr 2025NOK 16.6bNOK 5.0bNOK 1.5b8.9x10.8x3.3x
Wed, 05 Mar 2025NOK 16.7bNOK 5.0bNOK 1.5b9.1x10.9x3.4x
Fri, 31 Jan 2025NOK 18.0bNOK 5.0bNOK 2.0b6.3x9.2x3.6x
Sun, 29 Dec 2024NOK 18.3bNOK 5.0bNOK 2.0b6.4x9.4x3.6x
Tue, 26 Nov 2024NOK 17.9bNOK 5.0bNOK 2.0b6.1x9.2x3.6x
Thu, 24 Oct 2024NOK 18.8bNOK 4.7bNOK 318.4m23.4x58.9x4x
Sat, 21 Sep 2024NOK 16.5bNOK 4.7bNOK 35.5m41.5x464.9x3.5x
Mon, 19 Aug 2024NOK 17.4bNOK 4.8bNOK 253.5m42.4x68.8x3.6x
Wed, 17 Jul 2024NOK 17.6bNOK 4.4bNOK 648.1m20.4x27.2x4x
Fri, 14 Jun 2024NOK 17.0bNOK 4.4bNOK 649.4m19.3x26.2x3.9x
Sun, 12 May 2024NOK 15.9bNOK 4.4bNOK 751.9m14.2x21.1x3.6x
Tue, 09 Apr 2024NOK 15.2bNOK 4.0bNOK 686.1m14.4x22.2x3.8x
Thu, 07 Mar 2024NOK 13.9bNOK 4.0bNOK 723.9m13.4x19.2x3.5x
Sat, 03 Feb 2024NOK 15.8bNOK 4.2bNOK 896.2m13x17.6x3.8x
Mon, 01 Jan 2024NOK 17.1bNOK 4.0bNOK 96.2m7.5x177.9x4.3x
Wed, 29 Nov 2023NOK 14.3bNOK 4.0bNOK 83.1m6.5x172.7x3.6x
Fri, 27 Oct 2023NOK 12.7bNOK 3.7bNOK 396.8m133.3x31.9x3.4x
Sun, 24 Sep 2023NOK 14.1bNOK 3.7bNOK 401.0m153.8x35.2x3.8x
Tue, 22 Aug 2023NOK 15.9bNOK 3.6bNOK 10.2m5.5x1551.2x4.4x
Thu, 20 Jul 2023NOK 17.2bNOK 3.5b-NOK 255,404,885.0034.4x-67.4x4.8x
Sat, 17 Jun 2023NOK 15.7bNOK 3.5b-NOK 262,549,612.0015.8x-59.9x4.5x
Price to Earnings Ratio

-59.9x


Total Market Cap: NOK 15.7bTotal Earnings: -NOK 262,549,612.00Total Revenue: NOK 3.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 74.9x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Renewable Energy industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 681x which is higher than its 3-year average PE of 74.9x.
  • The 3-year average PS ratio of 4.2x is lower than the industry's current PS ratio of 5.1x.
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 7.9% 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-1.00%
Utilities-5.19%
Renewable Energy-5.68%
Independent Power Producers and Energy Traders0%0
Renewable Energy-5.68%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 74.9x.
    • Analysts are expecting annual earnings growth of 50.2%, which is higher than its past year's earnings growth of 23.5% per year.
  • Investors are most pessimistic about the Renewable Energy industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 74.9x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 50% over the next 5 years.
  • This is better than its past earnings growth rate of 24% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 50% 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
EAM EAM SolarNOK 2.7686.5%
+NOK 26.0m		-88.2%PE3.8x
ENERG EnergeiaNOK 7.9819.1%
+NOK 11.9m		-45.0%PS1.4x
NOFIN Nordic FinancialsNOK 1.852.8%
+NOK 984.7k		-42.5%PS25.5x

Latest News

MGN
NOK 24.75
Magnora
7D
-23.5%
1Y
2.7%
SCATC
NOK 100.50
Scatec
7D
-3.9%
1Y
16.2%
Narrative Update • Jun 06

SCATC: Long-Term PPAs And New Tunisian Solar Output Will Support Future Cash Flows

Analysts have revised their fair value estimate for Scatec from NOK 134.78 to NOK 129.89, as a higher discount rate offsets slightly firmer revenue growth, stronger profit margin assumptions and a lower future P/E. What's in the News Scatec issued new guidance for power production, targeting 1,150 GWh to 1,250 GWh for the second quarter of 2026 and 5,050 GWh to 5,450 GWh for the full year 2026.
ENERG
NOK 7.98
Energeia
7D
19.1%
1Y
-45.0%
EAM
NOK 2.76
EAM Solar
7D
86.5%
1Y
-88.2%
MPCES
NOK 13.55
MPC Energy Solutions
7D
-2.5%
1Y
32.8%
CLOUD
NOK 12.08
Cloudberry Clean Energy
7D
-4.1%
1Y
5.6%
Analysis Article • May 20

Shareholders Shouldn’t Be Too Comfortable With Cloudberry Clean Energy's (OB:CLOUD) Strong Earnings

Despite posting strong earnings, Cloudberry Clean Energy ASA's ( OB:CLOUD ) stock didn't move much over the last week...
NOFIN
NOK 1.85
Nordic Financials
7D
2.8%
1Y
-42.5%