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Norwegian (OSEAX) Renewable Energy Industry Analysis

UpdatedMar 27, 2026
DataAggregated Company Financials
Companies7
  • 7D3.5%
  • 3M13.6%
  • 1Y31.7%
  • YTD11.7%

In the last week, the Renewable Energy industry is up 3.5%, with Scatec up 6.7%. In the last 12 months, the industry was up 32%. As for the next few years, earnings are expected to grow by 5.9% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Mar 2026NOK 26.0bNOK 4.4bNOK 897.9m71x29x5.9x
Mon, 23 Feb 2026NOK 24.6bNOK 4.4bNOK 866.9m40.4x28.4x5.6x
Wed, 21 Jan 2026NOK 24.1bNOK 4.4bNOK 684.5m51.2x35.1x5.5x
Fri, 19 Dec 2025NOK 22.1bNOK 4.4bNOK 681.2m50.7x32.4x5x
Sun, 16 Nov 2025NOK 21.8bNOK 4.4bNOK 687.1m49.6x31.7x4.9x
Tue, 14 Oct 2025NOK 21.3bNOK 4.5bNOK 2.2b6.2x9.6x4.7x
Thu, 11 Sep 2025NOK 21.1bNOK 4.5bNOK 2.2b6.3x9.5x4.6x
Sat, 09 Aug 2025NOK 21.0bNOK 5.3bNOK 2.1b7.5x10.2x4x
Mon, 07 Jul 2025NOK 21.6bNOK 5.4bNOK 2.3b7.1x9.2x4x
Wed, 04 Jun 2025NOK 19.3bNOK 5.4bNOK 2.3b6.2x8.2x3.6x
Fri, 02 May 2025NOK 18.3bNOK 5.0bNOK 1.5b9.6x12.3x3.7x
Sun, 30 Mar 2025NOK 18.0bNOK 5.0bNOK 1.5b9.8x11.7x3.6x
Tue, 25 Feb 2025NOK 17.9bNOK 5.0bNOK 1.6b9.7x11.6x3.6x
Thu, 23 Jan 2025NOK 17.8bNOK 5.0bNOK 2.0b6.1x9.1x3.5x
Sat, 21 Dec 2024NOK 18.1bNOK 5.0bNOK 2.0b6.4x9.3x3.6x
Mon, 18 Nov 2024NOK 18.3bNOK 5.0bNOK 2.0b6.3x9.4x3.6x
Wed, 16 Oct 2024NOK 16.8bNOK 4.7bNOK 31.6m40.7x530.3x3.6x
Fri, 13 Sep 2024NOK 17.0bNOK 4.7bNOK 32.5m41.8x522.5x3.6x
Sun, 11 Aug 2024NOK 17.6bNOK 4.4bNOK 609.0m20.7x28.9x4x
Tue, 09 Jul 2024NOK 18.9bNOK 4.4bNOK 829.2m19.5x22.8x4.3x
Thu, 06 Jun 2024NOK 17.4bNOK 4.4bNOK 648.8m19.5x26.9x4x
Sat, 04 May 2024NOK 15.4bNOK 4.3bNOK 751.7m13.8x20.4x3.5x
Mon, 01 Apr 2024NOK 14.9bNOK 4.0bNOK 701.3m14.4x21.2x3.8x
Wed, 28 Feb 2024NOK 13.6bNOK 4.0bNOK 728.9m13.2x18.7x3.4x
Fri, 26 Jan 2024NOK 15.1bNOK 4.0bNOK 93.9m6.5x160.5x3.7x
Sun, 24 Dec 2023NOK 16.3bNOK 4.0bNOK 95.7m6.8x170.7x4.1x
Tue, 21 Nov 2023NOK 14.4bNOK 4.0bNOK 82.2m6.6x175.4x3.6x
Thu, 19 Oct 2023NOK 12.8bNOK 3.7bNOK 398.5m136x32.2x3.5x
Sat, 16 Sep 2023NOK 14.6bNOK 3.7bNOK 401.2m158.8x36.3x3.9x
Mon, 14 Aug 2023NOK 16.7bNOK 3.6b-NOK 278,119,700.0013x-60x4.7x
Wed, 12 Jul 2023NOK 15.9bNOK 3.6b-NOK 257,398,781.0034x-61.6x4.5x
Fri, 09 Jun 2023NOK 16.6bNOK 3.5b-NOK 264,172,616.0016x-62.7x4.8x
Sun, 07 May 2023NOK 15.8bNOK 3.4b-NOK 401,669,959.0025.8x-39.4x4.6x
Tue, 04 Apr 2023NOK 15.5bNOK 3.7b-NOK 1,454,406,398.0028.3x-10.7x4.2x
Price to Earnings Ratio

-10.7x


Total Market Cap: NOK 15.5bTotal Earnings: -NOK 1,454,406,398.00Total Revenue: NOK 3.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Renewable Energy Industry Price to Earnings3Y Average 57.2x202420252026
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 29.0x which is lower than its 3-year average PE of 57.2x.
  • The 3-year average PS ratio of 4.1x is lower than the industry's current PS ratio of 5.9x.
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 6.0% 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 Market-0.64%
Utilities2.42%
Renewable Energy3.51%
Renewable Energy3.51%
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 57.2x.
    • 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 57.2x.
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
SCATC ScatecNOK 123.406.7%
+NOK 1.2b		52.7%PE18.9x
EAM EAM SolarNOK 1.8265.1%
+NOK 14.6m		-86.4%PS2.7x
MGN MagnoraNOK 23.700.2%
+NOK 3.2m		0.9%PE75.4x
NOFIN Nordic FinancialsNOK 1.895.0%
+NOK 1.8m		-97.3%PS33.2x

Latest News

ENERG
NOK 7.48
Energeia
7D
-3.4%
1Y
-70.1%
CLOUD
NOK 13.00
Cloudberry Clean Energy
7D
-0.8%
1Y
12.1%
SCATC
NOK 123.40
Scatec
7D
6.7%
1Y
52.7%

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 23.70
Magnora
7D
0.2%
1Y
0.9%

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 1.89
Nordic Financials
7D
5.0%
1Y
-97.3%
EAM
NOK 1.82
EAM Solar
7D
65.1%
1Y
-86.4%
MPCES
NOK 13.05
MPC Energy Solutions
7D
-0.4%
1Y
46.6%