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Jun 19
Norwegian (OSEAX) Renewable Energy Industry Analysis
UpdatedJun 23, 2024
DataAggregated Company Financials
Companies7
- 7D2.4%
- 3M20.8%
- 1Y16.2%
- YTD8.6%
Over the last 7 days, the Renewable Energy industry has risen 2.4%, driven by gains from Scatec of 2.3%. Meanwhile, EAM Solar actually underperformed within the industry, shrinking 6.6% in the last week. In the last 12 months, the industry was up 16%. In the next few years, earnings are forecast to decline by 8.3% annually.
Industry Valuation and Performance
Has the Norwegian Renewable Energy Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sun, 23 Jun 2024 | kr17.9b | kr4.4b | kr651.2m | 20.1x | 27.6x | 4.1x |
| Tue, 21 May 2024 | kr15.4b | kr4.4b | kr753.3m | 13.9x | 20.5x | 3.5x |
| Thu, 18 Apr 2024 | kr14.4b | kr4.0b | kr683.2m | 13.6x | 21x | 3.6x |
| Sat, 16 Mar 2024 | kr13.9b | kr3.9b | kr721.4m | 13.4x | 19.3x | 3.5x |
| Mon, 12 Feb 2024 | kr14.6b | kr4.2b | kr897.0m | 12.1x | 16.3x | 3.5x |
| Wed, 10 Jan 2024 | kr15.6b | kr4.0b | kr94.6m | 7x | 165.4x | 3.9x |
| Fri, 08 Dec 2023 | kr15.9b | kr4.0b | kr89.3m | 6.6x | 178.6x | 4x |
| Sun, 05 Nov 2023 | kr14.5b | kr4.1b | kr90.0m | 6.9x | 161.5x | 3.5x |
| Tue, 03 Oct 2023 | kr13.7b | kr3.7b | kr400.8m | 141.1x | 34.2x | 3.7x |
| Thu, 31 Aug 2023 | kr14.9b | kr3.7b | kr410.8m | 165.4x | 36.4x | 4x |
| Sat, 29 Jul 2023 | kr17.2b | kr3.5b | -kr265,348,640.00 | 14.3x | -64.7x | 4.8x |
| Mon, 26 Jun 2023 | kr15.2b | kr3.5b | -kr264,434,772.00 | 15.9x | -57.5x | 4.4x |
| Wed, 24 May 2023 | kr16.1b | kr3.5b | -kr289,247,854.00 | 15.1x | -55.5x | 4.6x |
| Fri, 21 Apr 2023 | kr14.7b | kr3.7b | -kr1,460,591,960.00 | 25.7x | -10.1x | 4x |
| Sun, 19 Mar 2023 | kr14.3b | kr3.7b | -kr1,437,998,105.00 | 25.3x | -10x | 3.9x |
| Tue, 14 Feb 2023 | kr17.3b | kr3.6b | -kr1,492,336,662.00 | 62.1x | -11.6x | 4.8x |
| Thu, 12 Jan 2023 | kr18.3b | kr3.6b | -kr986,007,492.00 | 58.8x | -18.5x | 5x |
| Sat, 10 Dec 2022 | kr18.6b | kr3.6b | -kr983,000,063.00 | 65.8x | -18.9x | 5.1x |
| Mon, 07 Nov 2022 | kr18.2b | kr3.6b | -kr964,937,814.00 | 64.6x | -18.9x | 5.1x |
| Wed, 05 Oct 2022 | kr17.5b | kr3.6b | -kr1,147,970,997.00 | n/a | -15.3x | 4.9x |
| Fri, 02 Sep 2022 | kr21.9b | kr3.5b | -kr1,122,848,972.00 | n/a | -19.5x | 6.2x |
| Sun, 31 Jul 2022 | kr23.9b | kr3.4b | -kr1,111,423,153.00 | 16.4x | -21.5x | 7x |
| Tue, 28 Jun 2022 | kr19.7b | kr3.5b | -kr922,215,518.00 | 16.1x | -21.3x | 5.7x |
| Thu, 26 May 2022 | kr20.6b | kr3.4b | -kr897,562,426.00 | 18.2x | -22.9x | 6x |
| Sat, 23 Apr 2022 | kr25.4b | kr3.3b | kr320.3m | 29x | 79.2x | 7.7x |
| Mon, 21 Mar 2022 | kr39.3b | kr3.3b | kr334.8m | 31.5x | 117.4x | 11.9x |
| Wed, 16 Feb 2022 | kr34.2b | kr3.2b | kr372.0m | 28.3x | 91.9x | 10.6x |
| Fri, 14 Jan 2022 | kr43.9b | kr3.1b | -kr331,678,493.00 | 6.6x | -132.5x | 14.1x |
| Sun, 12 Dec 2021 | kr48.4b | kr3.1b | -kr310,038,329.00 | 6.5x | -156x | 15.5x |
| Tue, 09 Nov 2021 | kr52.5b | kr3.0b | -kr396,939,747.00 | 37.2x | -132.3x | 17.5x |
| Thu, 07 Oct 2021 | kr48.1b | kr2.9b | -kr624,874,439.00 | 32.3x | -77x | 16.5x |
| Sat, 04 Sep 2021 | kr51.1b | kr2.9b | -kr578,818,153.35 | 33.6x | -88.2x | 17.7x |
| Mon, 02 Aug 2021 | kr50.2b | kr2.9b | -kr578,818,153.35 | 33.6x | -86.7x | 17.4x |
Price to Earnings Ratio
-100.1x
Current Industry PE
- Investors are optimistic on the Norwegian Renewable Energy industry, and appear confident in long term growth rates.
- The industry is trading at a PE ratio of 27.6x which is higher than its 3-year average PE of 2.9x.
- The 3-year average PS ratio of 7.6x is higher than the industry's current PS ratio of 4.1x.
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 15% 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 | 0.98% | |
| Utilities | 2.07% | |
| Renewable Energy | 2.42% | |
| Renewable Energy | 2.42% | |
| Independent Power Producers and Energy Traders | 0% | |
Industry PE
- Investors are most optimistic about the Renewable Energy industry which is trading above its 3-year average PE ratio of 2.9x.
- Analysts are expecting annual earnings decline of 8.3%, which is less than its past year's earnings decline of 29.4%.
- Investors are most pessimistic about the Renewable Energy industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 2.9x.
Forecasted Growth
- Despite it being negative, analysts are least pessimistic on the Renewable Energy industry since they expect its earnings to decline by only 8.3% per year over the next 5 years, which isn't as bad as the other industries.
- This is an improvement from its past earnings decline of 29% per year.
- In contrast, the Renewable Energy industry is expected to see its earnings decline by 8.3% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SCATC Scatec | kr89.20 | 2.3% +kr318.1m | 31.9% | PE21x | |
| CLOUD Cloudberry Clean Energy | kr11.08 | 3.6% +kr109.7m | -13.6% | PE19.3x | |
| ALT Alternus Energy Group | kr4.20 | 5.3% +kr17.1m | -51.6% | PS1.8x | |
| MPCES MPC Energy Solutions | kr12.80 | 0.8% +kr2.2m | 8.0% | PS2.7x |