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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedDec 23, 2025
DataAggregated Company Financials
Companies7
  • 7D0.7%
  • 3M0.09%
  • 1Y12.1%
  • YTD2.4%

Over the last 7 days, the Renewable Energy industry has remained flat, although notably Magnora gained 4.8%. The past year has been better, since the industry has gained 12% in that time. Looking forward, earnings are forecast to grow by 27% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Fri, 30 Dec 2022NOK 17.7bNOK 3.6b-NOK 983,018,940.0060.8x-18x4.9x
Price to Earnings Ratio

-18x


Total Market Cap: NOK 17.7bTotal Earnings: -NOK 983,018,940.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 53.3x202320242025
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 32.6x which is lower than its 3-year average PE of 53.3x.
  • The 3-year average PS ratio of 4.0x is lower than the industry's current PS ratio of 5.0x.
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 6.9% 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 Market0.85%
Utilities0.67%
Renewable Energy0.66%
Renewable Energy0.66%
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 53.3x.
    • Analysts are expecting annual earnings growth of 27.0%, 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 53.3x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 27% 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 27% 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
MGN MagnoraNOK 19.844.8%
+NOK 57.5m		-27.6%PS24.6x
SCATC ScatecNOK 103.900.3%
+NOK 47.7m		31.1%PE18.6x
CLOUD Cloudberry Clean EnergyNOK 12.701.0%
+NOK 38.2m		3.3%PE82.4x
ENERG EnergeiaNOK 7.502.7%
+NOK 1.9m		-94.5%PS1.1x
MPCES MPC Energy SolutionsNOK 12.900.4%
+NOK 1.1m		32.4%PS2.6x

Latest News

MPCES
NOK 12.90
MPC Energy Solutions
7D
0.4%
1Y
32.4%
CLOUD
NOK 12.70
Cloudberry Clean Energy
7D
1.0%
1Y
3.3%
EAM
NOK 0.95
EAM Solar
7D
-3.6%
1Y
-70.1%
SCATC
NOK 103.90
Scatec
7D
0.3%
1Y
31.1%

SCATC: New Long-Term Power Contracts Will Support Future Cash Flow Visibility

Analysts raised their 12 month price target for Scatec to NOK 121.14, a modest increase driven by slightly lower perceived risk and marginally improved long term profitability assumptions. Analyst Commentary Analysts highlight that the recent upgrade and target price reflect a more constructive view on Scatec’s risk profile and earnings trajectory, but they also caution that execution and market dynamics remain key swing factors for the valuation.
NOFIN
NOK 1.78
Nordic Financials
7D
-1.1%
1Y
-98.5%
MGN
NOK 19.84
Magnora
7D
4.8%
1Y
-27.6%
ENERG
NOK 7.50
Energeia
7D
2.7%
1Y
-94.5%