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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedOct 17, 2024
DataAggregated Company Financials
Companies318
  • 7D0.6%
  • 3M-2.6%
  • 1Y-0.3%
  • YTD2.3%

The market has been flat over the last week. As for the longer term, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Norwegian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 17 Oct 2024NOK 3.8tNOK 3.3tNOK 313.6b11.1x12.1x1.1x
Sat, 14 Sep 2024NOK 3.7tNOK 3.3tNOK 308.4b11.2x12.1x1.1x
Mon, 12 Aug 2024NOK 3.8tNOK 3.3tNOK 299.0b10.9x12.7x1.1x
Wed, 10 Jul 2024NOK 3.8tNOK 3.2tNOK 279.9b11.4x13.5x1.2x
Fri, 07 Jun 2024NOK 3.9tNOK 3.3tNOK 285.1b11.5x13.6x1.2x
Sun, 05 May 2024NOK 4.0tNOK 3.3tNOK 287.8b11.5x13.8x1.2x
Tue, 02 Apr 2024NOK 3.9tNOK 3.4tNOK 303.6b11.7x13x1.2x
Thu, 29 Feb 2024NOK 3.8tNOK 3.3tNOK 269.9b11.6x14x1.1x
Sat, 27 Jan 2024NOK 4.0tNOK 3.5tNOK 346.7b11.2x11.5x1.1x
Mon, 25 Dec 2023NOK 4.0tNOK 3.5tNOK 344.0b10.5x11.7x1.2x
Wed, 22 Nov 2023NOK 4.0tNOK 3.5tNOK 355.1b10.3x11.3x1.1x
Fri, 20 Oct 2023NOK 4.1tNOK 3.8tNOK 427.3b10.8x9.5x1.1x
Sun, 17 Sep 2023NOK 4.1tNOK 3.8tNOK 417.5b10.6x9.7x1.1x
Tue, 15 Aug 2023NOK 3.9tNOK 3.7tNOK 411.6b11.1x9.5x1.1x
Thu, 13 Jul 2023NOK 3.8tNOK 3.7tNOK 481.6b10.9x8x1x
Sat, 10 Jun 2023NOK 3.9tNOK 3.8tNOK 509.7b11.5x7.6x1x
Mon, 08 May 2023NOK 3.9tNOK 3.7tNOK 544.2b11.4x7.2x1x
Wed, 05 Apr 2023NOK 3.9tNOK 3.7tNOK 538.1b11.6x7.3x1x
Fri, 03 Mar 2023NOK 4.1tNOK 3.8tNOK 551.1b11.9x7.4x1.1x
Sun, 29 Jan 2023NOK 4.0tNOK 3.6tNOK 486.0b11.8x8.1x1.1x
Tue, 27 Dec 2022NOK 4.0tNOK 3.6tNOK 485.2b11.5x8.3x1.1x
Thu, 24 Nov 2022NOK 4.0tNOK 3.6tNOK 488.2b10.8x8.3x1.1x
Sat, 22 Oct 2022NOK 3.9tNOK 3.4tNOK 394.6b11.9x9.8x1.1x
Mon, 19 Sep 2022NOK 4.0tNOK 3.3tNOK 380.9b12.7x10.5x1.2x
Wed, 17 Aug 2022NOK 4.2tNOK 3.2tNOK 344.1b12.6x12.3x1.3x
Fri, 15 Jul 2022NOK 3.9tNOK 3.0tNOK 302.3b12x12.8x1.3x
Sun, 12 Jun 2022NOK 4.1tNOK 2.9tNOK 288.8b13x14.2x1.4x
Tue, 10 May 2022NOK 3.9tNOK 2.9tNOK 241.1b13.7x16.3x1.4x
Thu, 07 Apr 2022NOK 4.2tNOK 2.5tNOK 195.9b14.5x21.6x1.7x
Sat, 05 Mar 2022NOK 4.1tNOK 2.5tNOK 204.3b13.7x20.3x1.6x
Mon, 31 Jan 2022NOK 3.9tNOK 2.2tNOK 154.1b14.7x25.2x1.8x
Wed, 29 Dec 2021NOK 3.7tNOK 2.1tNOK 127.9b15.1x28.8x1.7x
Fri, 26 Nov 2021NOK 3.6tNOK 2.1tNOK 128.2b15x28.3x1.7x
Sun, 24 Oct 2021NOK 4.0tNOK 2.0tNOK 111.5b13.7x36.1x2x
Price to Earnings Ratio

36.1x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 111.5bTotal Revenue: NOK 2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 29.8x202220232024
Current Market PE
  • Investors are pessimistic on the Norwegian market, indicating that they anticipate earnings will not grow as fast as they have historically.
  • The market is trading at a PE ratio of 12.1x which is lower than its 3-year average PE of 29.8x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 41% per year over the last three years.
  • Revenues for these companies have grown 19% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market0.62%
Financials2.37%
Consumer Staples2.36%
Telecom2.10%
Materials1.30%
Consumer Discretionary0.45%
Industrials0.41%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Real Estate-0.25%
Tech-0.52%
Energy-0.94%
Utilities-1.92%
Healthcare-2.60%
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 482x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 43.4% which is higher than its past year's earnings decline of 14.7% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 86% over the next 5 years.
  • This is better than its past earnings decline of 77% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 24% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
KOG Kongsberg GruppenNOK 1.13k4.5%
+NOK 8.6b		132.5%PE44.1xIndustrials
DNB DNB BankNOK 223.001.8%
+NOK 5.8b		-0.1%PB1.2xFinancials
NHY Norsk HydroNOK 68.903.5%
+NOK 4.7b		13.9%PE718.6xMaterials
GJF Gjensidige ForsikringNOK 200.003.9%
+NOK 3.7b		24.2%PE24.5xFinancials
TEL TelenorNOK 136.801.6%
+NOK 3.0b		14.0%PE20.5xTelecom
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Market Insights

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💵 Making Sense of the Financial Sector - Part 2

Richard Bowman avatar
Richard Bowman
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5 comments

Last week’s newsletter was part 1 of an introduction to the financial sector, and specifically banks and companies in the capital markets space. This week we are having a look at...

Continue reading

🏦 Making Sense of the Financial Sector - Part 1
Last Week

🏦 Making Sense of the Financial Sector - Part 1

Latest News

TOM

NOK 146.70

Tomra Systems

7D

-2.8%

1Y

35.6%

Is Tomra Systems (OB:TOM) A Risky Investment?

Oct 17
Is Tomra Systems (OB:TOM) A Risky Investment?

TEL

NOK 136.80

Telenor

7D

1.6%

1Y

14.0%

Telenor (OB:TEL) Will Pay A Dividend Of NOK4.50

Oct 17
Telenor (OB:TEL) Will Pay A Dividend Of NOK4.50

KOG

NOK 1,133.00

Kongsberg Gruppen

7D

4.5%

1Y

132.5%

We Ran A Stock Scan For Earnings Growth And Kongsberg Gruppen (OB:KOG) Passed With Ease

Oct 15
We Ran A Stock Scan For Earnings Growth And Kongsberg Gruppen (OB:KOG) Passed With Ease

EQNR

NOK 266.00

Equinor

7D

-0.6%

1Y

-30.1%

Why The 32% Return On Capital At Equinor (OB:EQNR) Should Have Your Attention

Oct 13
Why The 32% Return On Capital At Equinor (OB:EQNR) Should Have Your Attention

SCHA

NOK 348.80

Schibsted

7D

3.3%

1Y

46.9%

DNO

NOK 11.33

DNO

7D

-9.2%

1Y

0.7%

DNO (OB:DNO) Could Be Struggling To Allocate Capital

Oct 09
DNO (OB:DNO) Could Be Struggling To Allocate Capital

SNI

NOK 337.50

Stolt-Nielsen

7D

-5.5%

1Y

-6.3%

HAFNI

NOK 72.70

Hafnia

7D

-7.7%

1Y

5.1%

Investors Should Be Encouraged By Hafnia's (OB:HAFNI) Returns On Capital

Oct 07
Investors Should Be Encouraged By Hafnia's (OB:HAFNI) Returns On Capital

MOWI

NOK 196.25

Mowi

7D

2.4%

1Y

6.2%

Is Now The Time To Look At Buying Mowi ASA (OB:MOWI)?

Oct 06
Is Now The Time To Look At Buying Mowi ASA (OB:MOWI)?

NHY

NOK 68.90

Norsk Hydro

7D

3.5%

1Y

13.9%

AUTO

NOK 10.00

AutoStore Holdings

7D

-7.1%

1Y

-26.6%

Returns On Capital Are Showing Encouraging Signs At AutoStore Holdings (OB:AUTO)

Sep 29
Returns On Capital Are Showing Encouraging Signs At AutoStore Holdings (OB:AUTO)

SALM

NOK 581.00

SalMar

7D

3.3%

1Y

8.4%

Pinning Down SalMar ASA's (OB:SALM) P/E Is Difficult Right Now

Sep 09
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DNB

NOK 223.00

DNB Bank

7D

1.8%

1Y

-0.1%

Do DNB Bank's (OB:DNB) Earnings Warrant Your Attention?

Sep 05
Do DNB Bank's (OB:DNB) Earnings Warrant Your Attention?

ELK

NOK 19.32

Elkem

7D

-7.6%

1Y

6.1%

Little Excitement Around Elkem ASA's (OB:ELK) Revenues

Sep 04
Little Excitement Around Elkem ASA's (OB:ELK) Revenues

BWLPG

NOK 175.00

BWG

7D

-9.6%

1Y

77.1%

GJF

NOK 200.00

Gjensidige Forsikring

7D

3.9%

1Y

24.2%