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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedDec 21, 2025
DataAggregated Company Financials
Companies7
  • 7D2.6%
  • 3M1.9%
  • 1Y13.3%
  • YTD3.2%

Over the last 7 days, the Renewable Energy industry has risen 2.6%, driven by gains from Scatec of 2.7%. This takes the industry's 12 month performance to a gain of 13%. As for the next few years, earnings are expected to grow by 27% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 21 Dec 2025NOK 22.4bNOK 4.4bNOK 681.6m50.8x32.9x5.1x
Tue, 18 Nov 2025NOK 22.0bNOK 4.4bNOK 687.4m49.9x32x5x
Thu, 16 Oct 2025NOK 20.9bNOK 4.5bNOK 2.2b6.1x9.4x4.6x
Sat, 13 Sep 2025NOK 21.1bNOK 4.5bNOK 2.2b6.3x9.5x4.6x
Mon, 11 Aug 2025NOK 21.0bNOK 5.3bNOK 2.1b7.5x10.2x4x
Wed, 09 Jul 2025NOK 21.3bNOK 5.4bNOK 2.3b7x9.1x4x
Fri, 06 Jun 2025NOK 19.1bNOK 5.4bNOK 2.3b6.2x8.2x3.6x
Sun, 04 May 2025NOK 18.4bNOK 5.0bNOK 1.5b9.7x12.3x3.7x
Tue, 01 Apr 2025NOK 17.7bNOK 5.0bNOK 1.5b9.6x11.5x3.6x
Thu, 27 Feb 2025NOK 18.1bNOK 5.0bNOK 1.6b9.9x11.7x3.6x
Sat, 25 Jan 2025NOK 17.4bNOK 5.0bNOK 2.0b6x8.9x3.4x
Mon, 23 Dec 2024NOK 18.1bNOK 5.0bNOK 2.0b6.4x9.3x3.6x
Wed, 20 Nov 2024NOK 17.7bNOK 5.0bNOK 2.0b6.1x9.1x3.5x
Fri, 18 Oct 2024NOK 18.1bNOK 4.8bNOK 326.1m22.3x55.5x3.8x
Sun, 15 Sep 2024NOK 17.2bNOK 4.7bNOK 33.4m42.7x516.1x3.7x
Tue, 13 Aug 2024NOK 17.4bNOK 4.4bNOK 609.0m20.9x28.6x3.9x
Thu, 11 Jul 2024NOK 19.2bNOK 4.4bNOK 828.0m19.9x23.2x4.3x
Sat, 08 Jun 2024NOK 17.2bNOK 4.4bNOK 648.5m19.2x26.5x3.9x
Mon, 06 May 2024NOK 15.4bNOK 4.3bNOK 751.7m13.8x20.4x3.5x
Wed, 03 Apr 2024NOK 14.8bNOK 4.0bNOK 684.6m14.3x21.7x3.7x
Fri, 01 Mar 2024NOK 13.9bNOK 4.0bNOK 728.1m13.5x19.1x3.5x
Sun, 28 Jan 2024NOK 15.9bNOK 5.5bNOK 898.1m13.1x17.7x2.9x
Tue, 26 Dec 2023NOK 16.3bNOK 4.0bNOK 95.7m6.8x170.7x4.1x
Thu, 23 Nov 2023NOK 14.3bNOK 4.0bNOK 81.6m6.3x174.8x3.5x
Sat, 21 Oct 2023NOK 12.8bNOK 3.7bNOK 398.4m136.3x32.2x3.5x
Mon, 18 Sep 2023NOK 14.4bNOK 3.7bNOK 400.7m156.3x36x3.9x
Wed, 16 Aug 2023NOK 16.3bNOK 3.6b-NOK 278,697,076.0013.1x-58.6x4.6x
Fri, 14 Jul 2023NOK 16.4bNOK 3.5b-NOK 254,693,369.0034.3x-64.3x4.6x
Sun, 11 Jun 2023NOK 17.0bNOK 3.5b-NOK 262,944,334.0016.8x-64.8x4.9x
Tue, 09 May 2023NOK 15.4bNOK 3.4b-NOK 400,841,247.0026.1x-38.4x4.5x
Thu, 06 Apr 2023NOK 15.9bNOK 3.7b-NOK 1,455,213,740.0027.9x-10.9x4.3x
Sat, 04 Mar 2023NOK 15.5bNOK 3.7b-NOK 1,435,189,923.0027.3x-10.8x4.2x
Mon, 30 Jan 2023NOK 18.5bNOK 3.6b-NOK 985,385,473.0058.3x-18.8x5.1x
Wed, 28 Dec 2022NOK 17.8bNOK 3.6b-NOK 981,760,088.0061.6x-18.1x4.9x
Price to Earnings Ratio

-18.1x


Total Market Cap: NOK 17.8bTotal Earnings: -NOK 981,760,088.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 53.2x202320242025
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 32.9x which is lower than its 3-year average PE of 53.2x.
  • The 3-year average PS ratio of 4.0x 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 7.0% 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 Market0.84%
Utilities2.20%
Renewable Energy2.59%
Renewable Energy2.59%
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 53.2x.
    • 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 53.2x.
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
SCATC ScatecNOK 104.802.7%
+NOK 445.0m		34.6%PE18.7x
CLOUD Cloudberry Clean EnergyNOK 12.761.6%
+NOK 63.6m		5.3%PE82.8x
MGN MagnoraNOK 20.104.9%
+NOK 60.1m		-27.8%PS24.9x
EAM EAM SolarNOK 0.945.7%
+NOK 1.0m		-71.1%PS1.1x

Latest News

CLOUD
NOK 12.76
Cloudberry Clean Energy
7D
1.6%
1Y
5.3%
EAM
NOK 0.94
EAM Solar
7D
5.7%
1Y
-71.1%
SCATC
NOK 104.80
Scatec
7D
2.7%
1Y
34.6%

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
-5.3%
1Y
-98.7%
MPCES
NOK 12.90
MPC Energy Solutions
7D
-0.8%
1Y
35.2%
MGN
NOK 20.10
Magnora
7D
4.9%
1Y
-27.8%