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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedMar 20, 2026
DataAggregated Company Financials
Companies7
  • 7D-0.1%
  • 3M10.6%
  • 1Y31.8%
  • YTD8.0%

The Renewable Energy is pretty flat in the last 7 days, but Magnora has stood out, gaining 4.2%. As for the the longer term, the industry is up 32% over the past 12 months. Looking forward, earnings are forecast to grow by 5.9% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 21 Mar 2026NOK 24.9bNOK 4.4bNOK 901.6m68.2x27.6x5.6x
Mon, 16 Feb 2026NOK 24.0bNOK 4.4bNOK 867.2m39.9x27.7x5.5x
Wed, 14 Jan 2026NOK 23.7bNOK 4.4bNOK 682.6m50.8x34.7x5.4x
Fri, 12 Dec 2025NOK 21.6bNOK 4.4bNOK 687.0m49.6x31.4x4.9x
Sun, 09 Nov 2025NOK 21.8bNOK 4.3bNOK 686.2m50.2x31.8x5.1x
Tue, 07 Oct 2025NOK 21.0bNOK 4.5bNOK 2.2b6.2x9.4x4.6x
Thu, 04 Sep 2025NOK 21.1bNOK 4.6bNOK 2.2b6.2x9.4x4.6x
Sat, 02 Aug 2025NOK 20.9bNOK 5.3bNOK 2.0b7.4x10.3x3.9x
Mon, 30 Jun 2025NOK 20.8bNOK 5.4bNOK 2.3b6.8x8.9x3.9x
Wed, 28 May 2025NOK 19.9bNOK 5.4bNOK 2.3b6.4x8.6x3.7x
Fri, 25 Apr 2025NOK 18.1bNOK 5.0bNOK 1.5b9.5x11.8x3.7x
Sun, 23 Mar 2025NOK 17.8bNOK 5.0bNOK 1.5b9.7x11.5x3.6x
Tue, 18 Feb 2025NOK 17.6bNOK 5.0bNOK 1.6b9.4x11.3x3.5x
Thu, 16 Jan 2025NOK 18.2bNOK 5.0bNOK 2.0b6.2x9.3x3.6x
Sat, 14 Dec 2024NOK 18.1bNOK 5.0bNOK 2.0b6.2x9.3x3.6x
Mon, 11 Nov 2024NOK 18.1bNOK 5.2bNOK 1.9b6.1x9.3x3.5x
Wed, 09 Oct 2024NOK 17.0bNOK 4.7bNOK 33.1m42x513.9x3.6x
Fri, 06 Sep 2024NOK 16.7bNOK 4.7bNOK 33.9m40.8x491.5x3.6x
Sun, 04 Aug 2024NOK 17.7bNOK 4.4bNOK 607.1m20.4x29.1x4x
Tue, 02 Jul 2024NOK 19.5bNOK 4.4bNOK 829.1m20.2x23.5x4.4x
Thu, 30 May 2024NOK 15.7bNOK 4.3bNOK 746.3m14x21.1x3.6x
Sat, 27 Apr 2024NOK 15.0bNOK 4.0bNOK 685.7m14.1x21.9x3.8x
Mon, 25 Mar 2024NOK 14.9bNOK 3.9bNOK 717.3m14.2x20.8x3.8x
Wed, 21 Feb 2024NOK 14.6bNOK 4.0bNOK 729.5m13.8x20.1x3.7x
Fri, 19 Jan 2024NOK 14.4bNOK 4.0bNOK 92.7m6.4x155.6x3.6x
Sun, 17 Dec 2023NOK 16.2bNOK 4.0bNOK 93.5m6.6x173.1x4x
Tue, 14 Nov 2023NOK 13.5bNOK 4.0bNOK 89.8m6.6x150x3.3x
Thu, 12 Oct 2023NOK 12.9bNOK 3.7bNOK 400.1m136.7x32.2x3.5x
Sat, 09 Sep 2023NOK 14.4bNOK 3.7bNOK 401.6m156.5x35.9x3.9x
Mon, 07 Aug 2023NOK 16.6bNOK 3.6b-NOK 275,761,884.0013.8x-60.2x4.7x
Wed, 05 Jul 2023NOK 15.8bNOK 3.5b-NOK 263,020,118.0014.7x-60.2x4.6x
Fri, 02 Jun 2023NOK 16.0bNOK 3.5b-NOK 265,239,447.0015.2x-60.4x4.6x
Sun, 30 Apr 2023NOK 14.9bNOK 3.3b-NOK 1,372,496,054.0026x-10.9x4.5x
Tue, 28 Mar 2023NOK 14.2bNOK 3.6b-NOK 1,497,310,115.0052.8x-9.5x3.9x
Price to Earnings Ratio

-9.5x


Total Market Cap: NOK 14.2bTotal Earnings: -NOK 1,497,310,115.00Total Revenue: NOK 3.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 56.9x202420252026
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 27.6x which is lower than its 3-year average PE of 56.9x.
  • The 3-year average PS ratio of 4.1x 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 6.1% 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 Market3.73%
Utilities0.16%
Renewable Energy-0.14%
Independent Power Producers and Energy Traders0%0
Renewable Energy-0.14%
Industry PE
  • Investors are most optimistic about the Renewable Energy industry even though it's trading below its 3-year average PE ratio of 56.9x.
    • Analysts are expecting annual earnings growth of 5.9%, which is higher than its past year's earnings decline of 36.5% per year.
  • Investors are most pessimistic about the Renewable Energy industry, which is trading below its 3-year average of 56.9x.
Forecasted Growth
  • Analysts are most optimistic on the Renewable Energy industry, expecting annual earnings growth of 5.9% over the next 5 years.
  • This is better than its past earnings decline of 36% per year.
  • In contrast, the Renewable Energy industry is expected to see its earnings grow by 5.9% 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 23.654.2%
+NOK 60.7m		2.4%PE75.2x
ENERG EnergeiaNOK 7.741.6%
+NOK 1.1m		-65.4%PS1.2x
MPCES MPC Energy SolutionsNOK 13.100.4%
+NOK 1.1m		40.9%PS2.8x
EAM EAM SolarNOK 1.102.2%
+NOK 479.6k		-92.8%PS1.7x

Latest News

SCATC
NOK 115.70
Scatec
7D
-3.0%
1Y
44.6%

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

Scatec's analyst price target has been reaffirmed at NOK 129.57, with analysts pointing to largely unchanged fair value, discount rate, revenue growth, profit margin and forward P/E assumptions as support for maintaining their view. What's in the News Reached commercial operations for the 60 MW Sidi Bouzid solar plant in Tunisia, with the parallel 60 MW Tozeur project progressing toward COD.
MGN
NOK 23.65
Magnora
7D
4.2%
1Y
2.4%

MGN: Nordic High Capacity Data Center Projects Will Support Future Upside

Analysts have adjusted their Magnora price target from NOK 32.64 to NOK 31.04, reflecting updated views on future growth, profitability, and a slightly lower discount rate applied to the company’s cash flows. What's in the News Magnora ASA has secured land for a new 100 MW data center development in northwestern Norway, located next to a substation where three 420 kV power lines meet, targeting customers with high redundancy and capacity needs (Key Developments).
NOFIN
NOK 1.80
Nordic Financials
7D
-3.2%
1Y
-98.1%
EAM
NOK 1.10
EAM Solar
7D
2.2%
1Y
-92.8%
ENERG
NOK 7.74
Energeia
7D
1.6%
1Y
-65.4%
MPCES
NOK 13.10
MPC Energy Solutions
7D
0.4%
1Y
40.9%