Telenor (OB:TEL) Is Due To Pay A Dividend Of NOK4.60
Aug 14
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Norwegian (OSEAX) Market Analysis & Valuation
UpdatedAug 15, 2025
DataAggregated Company Financials
Companies295
- 7D0.2%
- 3M3.5%
- 1Y5.4%
- YTD5.6%
The Information Technology sector gained 4.7% while the market remained flat over the last week. Meanwhile, the market is actually up 5.4% over the past year. Earnings are forecast to grow by 11% annually.
Market Valuation and Performance
Has the Norwegian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 15 Aug 2025 | NOK 4.0t | NOK 3.3t | NOK 306.4b | 13.2x | 13.2x | 1.2x |
| Sun, 13 Jul 2025 | NOK 4.0t | NOK 3.3t | NOK 303.3b | 12.7x | 13.2x | 1.2x |
| Tue, 10 Jun 2025 | NOK 3.9t | NOK 3.2t | NOK 302.5b | 12.2x | 13.1x | 1.2x |
| Thu, 08 May 2025 | NOK 3.8t | NOK 3.3t | NOK 310.1b | 12.2x | 12.2x | 1.1x |
| Sat, 05 Apr 2025 | NOK 3.6t | NOK 3.3t | NOK 320.8b | 11.2x | 11.2x | 1.1x |
| Mon, 03 Mar 2025 | NOK 3.8t | NOK 3.4t | NOK 335.8b | 11.5x | 11.4x | 1.1x |
| Wed, 29 Jan 2025 | NOK 3.9t | NOK 3.5t | NOK 337.7b | 12.1x | 11.4x | 1.1x |
| Fri, 27 Dec 2024 | NOK 3.7t | NOK 3.5t | NOK 340.3b | 11.2x | 10.8x | 1.1x |
| Sun, 24 Nov 2024 | NOK 3.8t | NOK 3.4t | NOK 330.1b | 11x | 11.5x | 1.1x |
| Tue, 22 Oct 2024 | NOK 3.8t | NOK 3.3t | NOK 315.4b | 11.5x | 11.9x | 1.1x |
| Thu, 19 Sep 2024 | NOK 3.7t | NOK 3.3t | NOK 307.2b | 11.3x | 12x | 1.1x |
| Sat, 17 Aug 2024 | NOK 3.8t | NOK 3.3t | NOK 298.9b | 11.2x | 12.8x | 1.2x |
| Mon, 15 Jul 2024 | NOK 3.9t | NOK 3.3t | NOK 290.9b | 11.1x | 13.3x | 1.2x |
| Wed, 12 Jun 2024 | NOK 3.9t | NOK 3.3t | NOK 287.2b | 11.4x | 13.4x | 1.2x |
| Fri, 10 May 2024 | NOK 4.0t | NOK 3.3t | NOK 288.0b | 11.4x | 14x | 1.2x |
| Sun, 07 Apr 2024 | NOK 4.0t | NOK 3.3t | NOK 297.7b | 12.2x | 13.4x | 1.2x |
| Tue, 05 Mar 2024 | NOK 3.8t | NOK 3.3t | NOK 291.4b | 11.2x | 13x | 1.1x |
| Thu, 01 Feb 2024 | NOK 3.9t | NOK 3.5t | NOK 349.1b | 11.3x | 11.3x | 1.1x |
| Sat, 30 Dec 2023 | NOK 4.0t | NOK 3.4t | NOK 340.1b | 11x | 11.9x | 1.2x |
| Mon, 27 Nov 2023 | NOK 4.1t | NOK 3.6t | NOK 357.7b | 10.2x | 11.4x | 1.1x |
| Wed, 25 Oct 2023 | NOK 4.0t | NOK 3.8t | NOK 427.4b | 10.9x | 9.3x | 1x |
| Fri, 22 Sep 2023 | NOK 4.1t | NOK 3.8t | NOK 418.0b | 10.6x | 9.7x | 1.1x |
| Sun, 20 Aug 2023 | NOK 3.9t | NOK 3.7t | NOK 423.2b | 10.4x | 9.2x | 1x |
| Tue, 18 Jul 2023 | NOK 3.7t | NOK 3.8t | NOK 473.6b | 10.6x | 7.9x | 1x |
| Thu, 15 Jun 2023 | NOK 3.9t | NOK 3.8t | NOK 502.0b | 11.5x | 7.8x | 1x |
| Sat, 13 May 2023 | NOK 3.9t | NOK 3.8t | NOK 548.7b | 11.8x | 7.1x | 1x |
| Mon, 10 Apr 2023 | NOK 3.9t | NOK 3.8t | NOK 504.8b | 11.5x | 7.7x | 1x |
| Wed, 08 Mar 2023 | NOK 4.1t | NOK 3.8t | NOK 559.0b | 11.9x | 7.3x | 1.1x |
| Fri, 03 Feb 2023 | NOK 3.9t | NOK 3.6t | NOK 491.4b | 11.6x | 8x | 1.1x |
| Sun, 01 Jan 2023 | NOK 4.0t | NOK 3.6t | NOK 483.0b | 11.5x | 8.3x | 1.1x |
| Tue, 29 Nov 2022 | NOK 4.0t | NOK 3.6t | NOK 487.0b | 10.7x | 8.3x | 1.1x |
| Thu, 27 Oct 2022 | NOK 3.9t | NOK 3.4t | NOK 399.2b | 11.7x | 9.8x | 1.1x |
| Sat, 24 Sep 2022 | NOK 3.8t | NOK 3.4t | NOK 390.8b | 12.3x | 9.6x | 1.1x |
| Mon, 22 Aug 2022 | NOK 4.3t | NOK 3.2t | NOK 364.7b | 12.4x | 11.7x | 1.3x |
Price to Earnings Ratio
11.7x
Current Market PE
- Investors are optimistic on the Norwegian market, and appear confident in strong long term growth rates.
- The market is trading at a PE ratio of 13.2x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
- The earnings for Norwegian listed companies have declined 5.6% per year over the last three years.
- Meanwhile revenues have been flat.
- This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.
Sector Trends
Which sectors have driven the changes within the Norwegian Market?
| NO Market | 0.19% | |
| Tech | 4.68% | |
| Healthcare | 3.00% | |
| Telecom | 1.98% | |
| Materials | 1.96% | |
| Industrials | 0.82% | |
| Consumer Discretionary | 0.55% | |
| Consumer Staples | 0.55% | |
| Financials | 0.51% | |
| Real Estate | -0.82% | |
| Energy | -1.56% | |
| Utilities | -1.61% | |
Sector PE
- Investors favour the Tech sector the most for future growth even though it's trading below its 3-year average PE ratio of 353x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 35.2%, which is higher than its past year's earnings growth of 0.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 59% over the next 5 years.
- This is better than its past earnings growth rate of 20% per year.
- In contrast, the Utilities sector is expected to see its earnings decline by 12% 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 | Sector | |
|---|---|---|---|---|---|---|
| TEL Telenor | NOK 165.40 | 3.6% +NOK 7.8b | 28.9% | PE22.1x | Telecom | |
| AUTO AutoStore Holdings | NOK 9.10 | 29.2% +NOK 6.9b | -19.4% | PE37.6x | Industrials | |
| NOD Nordic Semiconductor | NOK 168.30 | 22.2% +NOK 5.8b | 19.9% | PE231.7x | Tech | |
| DNB DNB Bank | NOK 269.10 | 1.3% +NOK 4.8b | 21.2% | PB1.4x | Financials | |
| NHY Norsk Hydro | NOK 65.70 | 2.1% +NOK 2.7b | 13.3% | PE13.6x | Materials |
