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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedFeb 05, 2026
DataAggregated Company Financials
Companies7
  • 7D-2.9%
  • 3M9.5%
  • 1Y12.9%
  • YTD4.5%

Over the last 7 days, the Renewable Energy industry has dropped 2.9%, driven by a pullback from Scatec of 3.4%. This takes the industry's 12 month performance to a gain of 13%. Earnings are forecast to grow by 17% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Feb 2026NOK 24.0bNOK 4.3bNOK 852.0m48x28.1x5.6x
Sat, 03 Jan 2026NOK 22.9bNOK 4.4bNOK 683.1m51.4x33.6x5.2x
Mon, 01 Dec 2025NOK 21.9bNOK 4.4bNOK 686.2m53.2x31.9x5x
Wed, 29 Oct 2025NOK 22.1bNOK 4.6bNOK 2.2b6.6x10x4.8x
Fri, 26 Sep 2025NOK 20.6bNOK 4.5bNOK 2.2b6.1x9.3x4.5x
Sun, 24 Aug 2025NOK 21.5bNOK 4.6bNOK 2.2b6.5x9.6x4.7x
Tue, 22 Jul 2025NOK 22.0bNOK 5.4bNOK 2.3b7.4x9.8x4.1x
Thu, 19 Jun 2025NOK 19.6bNOK 5.4bNOK 2.3b6.4x8.4x3.7x
Sat, 17 May 2025NOK 19.7bNOK 5.4bNOK 2.3b6.4x8.5x3.7x
Mon, 14 Apr 2025NOK 16.7bNOK 5.0bNOK 1.5b8.7x10.8x3.4x
Wed, 12 Mar 2025NOK 17.0bNOK 5.0bNOK 1.5b9.3x11.1x3.4x
Fri, 07 Feb 2025NOK 18.1bNOK 5.0bNOK 1.4b7.7x13.2x3.6x
Sun, 05 Jan 2025NOK 19.0bNOK 5.0bNOK 2.0b6.6x9.7x3.8x
Tue, 03 Dec 2024NOK 17.9bNOK 5.0bNOK 2.0b6.1x9.1x3.5x
Thu, 31 Oct 2024NOK 18.3bNOK 4.7bNOK 332.6m22.8x55.1x3.9x
Sat, 28 Sep 2024NOK 17.1bNOK 4.7bNOK 35.3m42.4x483.7x3.7x
Mon, 26 Aug 2024NOK 16.4bNOK 4.7bNOK 50.4m41.2x326.5x3.5x
Wed, 24 Jul 2024NOK 17.5bNOK 4.4bNOK 645.8m20.4x27.1x4x
Fri, 21 Jun 2024NOK 18.1bNOK 4.4bNOK 651.4m19.9x27.8x4.1x
Sun, 19 May 2024NOK 15.4bNOK 4.4bNOK 753.2m13.9x20.5x3.5x
Tue, 16 Apr 2024NOK 14.5bNOK 4.0bNOK 683.9m13.7x21.2x3.6x
Thu, 14 Mar 2024NOK 13.4bNOK 3.9bNOK 722.6m13x18.6x3.4x
Sat, 10 Feb 2024NOK 14.6bNOK 4.2bNOK 897.0m12.1x16.3x3.5x
Mon, 08 Jan 2024NOK 15.8bNOK 4.0bNOK 95.0m7.1x165.9x3.9x
Wed, 06 Dec 2023NOK 15.7bNOK 4.0bNOK 88.8m6.5x176.9x3.9x
Fri, 03 Nov 2023NOK 14.0bNOK 4.0bNOK 300.3m150.2x46.7x3.5x
Sun, 01 Oct 2023NOK 13.7bNOK 3.7bNOK 401.8m145.9x34.2x3.7x
Tue, 29 Aug 2023NOK 15.3bNOK 3.7bNOK 409.7m170x37.4x4.1x
Thu, 27 Jul 2023NOK 17.5bNOK 3.5b-NOK 255,688,592.0034.3x-68.5x4.9x
Sat, 24 Jun 2023NOK 15.2bNOK 3.5b-NOK 264,700,325.0015.9x-57.5x4.4x
Mon, 22 May 2023NOK 16.4bNOK 3.5b-NOK 294,055,350.0014.7x-55.6x4.7x
Wed, 19 Apr 2023NOK 15.7bNOK 3.7b-NOK 1,458,394,981.0025.9x-10.8x4.2x
Fri, 17 Mar 2023NOK 14.7bNOK 3.7b-NOK 1,438,044,028.0024.7x-10.2x4x
Sun, 12 Feb 2023NOK 17.5bNOK 3.6b-NOK 1,492,477,392.0063.1x-11.8x4.8x
Price to Earnings Ratio

-11.8x


Total Market Cap: NOK 17.5bTotal Earnings: -NOK 1,492,477,392.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 55.4x202420252026
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 28.1x which is lower than its 3-year average PE of 55.4x.
  • 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 5.7% 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 Market0.63%
Utilities-2.81%
Renewable Energy-2.92%
Independent Power Producers and Energy Traders0%0
Renewable Energy-2.92%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 55.4x.
    • Analysts are expecting annual earnings growth of 17.0%, which is higher than its past year's earnings decline of 20.2% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 55.4x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 17% over the next 5 years.
  • This is better than its past earnings decline of 20% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 17% 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 20.351.0%
+NOK 12.8m		-22.2%PS25.2x
EAM EAM SolarNOK 2.183.8%
+NOK 1.6m		-1.8%PS3.2x
ENERG EnergeiaNOK 7.641.9%
+NOK 1.3m		-94.7%PS1.2x

Latest News

SCATC
NOK 115.70
Scatec
7D
-3.4%
1Y
44.9%

SCATC: Long-Term African PPAs And Lower Risk Assumptions Will Support Future Cash Flows

Analysts now place Scatec's fair value at €130.13, up from €123.25, citing a lower assumed discount rate and a reduced future P/E multiple as the key drivers of the revised price target. What's in the News Scatec issued new production guidance for full year 2026, estimating proportionate power production of 5.2 to 5.6 TWh (Corporate guidance).
EAM
NOK 2.18
EAM Solar
7D
3.8%
1Y
-1.8%
CLOUD
NOK 12.08
Cloudberry Clean Energy
7D
-2.1%
1Y
0.7%
NOFIN
NOK 1.73
Nordic Financials
7D
-1.4%
1Y
-97.7%
MGN
NOK 20.35
Magnora
7D
1.0%
1Y
-22.2%
ENERG
NOK 7.64
Energeia
7D
1.9%
1Y
-94.7%
MPCES
NOK 13.55
MPC Energy Solutions
7D
-1.1%
1Y
35.5%