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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedOct 08, 2024
DataAggregated Company Financials
Companies321
  • 7D1.9%
  • 3M1.0%
  • 1Y3.0%
  • YTD2.7%

Over the last 7 days, the market has risen 1.9%, driven by gains of 5.5% in the Energy sector. As for last year, the market performance has been flat. 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
Tue, 08 Oct 2024NOK 3.8tNOK 3.3tNOK 307.0b11.2x12.4x1.2x
Thu, 05 Sep 2024NOK 3.7tNOK 3.3tNOK 307.4b11x12x1.1x
Sat, 03 Aug 2024NOK 3.8tNOK 3.3tNOK 300.2b10.8x12.6x1.1x
Mon, 01 Jul 2024NOK 3.9tNOK 3.3tNOK 286.9b11.3x13.6x1.2x
Wed, 29 May 2024NOK 4.1tNOK 3.3tNOK 281.2b11.7x14.6x1.2x
Fri, 26 Apr 2024NOK 4.0tNOK 3.4tNOK 278.2b11.4x14.3x1.2x
Sun, 24 Mar 2024NOK 3.9tNOK 3.4tNOK 300.5b11.3x13x1.2x
Tue, 20 Feb 2024NOK 3.8tNOK 3.3tNOK 265.3b11.3x14.3x1.1x
Thu, 18 Jan 2024NOK 3.9tNOK 3.5tNOK 350.1b10.7x11.2x1.1x
Sat, 16 Dec 2023NOK 4.0tNOK 3.5tNOK 350.0b10.4x11.4x1.1x
Mon, 13 Nov 2023NOK 4.0tNOK 3.6tNOK 368.5b10.3x11x1.1x
Wed, 11 Oct 2023NOK 4.1tNOK 3.8tNOK 419.0b10.8x9.7x1.1x
Fri, 08 Sep 2023NOK 4.0tNOK 3.8tNOK 415.4b10.8x9.5x1.1x
Sun, 06 Aug 2023NOK 3.9tNOK 3.6tNOK 401.2b11.1x9.7x1.1x
Tue, 04 Jul 2023NOK 3.9tNOK 3.8tNOK 502.7b11.1x7.7x1x
Thu, 01 Jun 2023NOK 3.8tNOK 3.9tNOK 528.2b11.5x7.2x1x
Sat, 29 Apr 2023NOK 4.0tNOK 3.8tNOK 541.3b12.2x7.3x1x
Mon, 27 Mar 2023NOK 3.7tNOK 3.8tNOK 548.6b11.6x6.8x1x
Wed, 22 Feb 2023NOK 4.0tNOK 3.7tNOK 576.2b11.5x7x1.1x
Fri, 20 Jan 2023NOK 3.9tNOK 3.6tNOK 488.0b11.6x8x1.1x
Sun, 18 Dec 2022NOK 4.0tNOK 3.6tNOK 484.9b11.6x8.1x1.1x
Tue, 15 Nov 2022NOK 4.1tNOK 3.6tNOK 485.1b12x8.4x1.1x
Thu, 13 Oct 2022NOK 3.8tNOK 3.5tNOK 395.7b11.6x9.5x1.1x
Sat, 10 Sep 2022NOK 4.1tNOK 3.3tNOK 373.4b12.7x10.9x1.2x
Mon, 08 Aug 2022NOK 4.2tNOK 3.2tNOK 347.1b12.6x12x1.3x
Wed, 06 Jul 2022NOK 4.0tNOK 3.0tNOK 299.3b12x13.2x1.3x
Fri, 03 Jun 2022NOK 4.2tNOK 2.9tNOK 283.0b13.3x14.9x1.5x
Sun, 01 May 2022NOK 4.1tNOK 2.6tNOK 214.6b14.1x19.3x1.6x
Tue, 29 Mar 2022NOK 4.2tNOK 2.5tNOK 195.1b14.7x21.6x1.7x
Thu, 24 Feb 2022NOK 3.9tNOK 2.5tNOK 207.8b14.2x18.8x1.6x
Sat, 22 Jan 2022NOK 3.9tNOK 2.2tNOK 151.8b15.3x25.9x1.8x
Mon, 20 Dec 2021NOK 3.5tNOK 2.2tNOK 129.3b14.3x27.2x1.6x
Wed, 17 Nov 2021NOK 4.0tNOK 2.2tNOK 150.8b14.3x26.8x1.9x
Fri, 15 Oct 2021NOK 3.8tNOK 2.0tNOK 116.2b13.3x33.1x1.9x
Price to Earnings Ratio

33.1x


Total Market Cap: NOK 3.8tTotal Earnings: NOK 116.2bTotal Revenue: NOK 2.0tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 29.9x202220232024
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 12.4x which is lower than its 3-year average PE of 29.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 38% per year over the last three years.
  • Revenues for these companies have grown 18% 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 Market1.93%
Energy5.48%
Materials1.65%
Industrials1.10%
Consumer Staples0.68%
Real Estate0.17%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Financials-0.30%
Utilities-1.44%
Consumer Discretionary-1.55%
Telecom-1.90%
Healthcare-2.04%
Tech-2.92%
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 483x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 44.2% 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 84% 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 23% 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
EQNR EquinorNOK 277.402.1%
+NOK 15.5b		-24.2%PE7.4xEnergy
AKRBP Aker BPNOK 246.406.1%
+NOK 8.9b		-19.2%PE7.9xEnergy
VAR Vår EnergiNOK 36.698.9%
+NOK 7.5b		10.1%PE14xEnergy
DNB DNB BankNOK 217.201.9%
+NOK 5.8b		0.09%PB1.2xFinancials
KOG Kongsberg GruppenNOK 1.08k1.7%
+NOK 3.2b		132.2%PE42.1xIndustrials
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Market Insights

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🏦 Making Sense of the Financial Sector - Part 1

Richard Bowman avatar
Richard Bowman
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5 comments

In last week’s third-quarter review, we mentioned that financial sector stocks are showing signs of life and beginning to outperform. In the era of ‘easy money’, cloud computing, and AI, the financial sector has taken a back seat for a lot of investors...

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🎢 Another Eventful 3 Months - The Sectors That Excelled In Q3
Last Week

🎢 Another Eventful 3 Months - The Sectors That Excelled In Q3

Latest News

SUBC

NOK 181.00

Subsea 7

7D

4.7%

1Y

27.6%

EQNR

NOK 277.40

Equinor

7D

2.1%

1Y

-24.2%

AKRBP

NOK 246.40

Aker BP

7D

6.1%

1Y

-19.2%

Insufficient Growth At Aker BP ASA (OB:AKRBP) Hampers Share Price

Oct 08
Insufficient Growth At Aker BP ASA (OB:AKRBP) Hampers Share Price

NAS

NOK 11.68

Norwegian Air Shuttle

7D

-7.1%

1Y

35.8%

YAR

NOK 347.50

Yara International

7D

2.9%

1Y

-13.5%

What You Can Learn From Yara International ASA's (OB:YAR) P/E

Oct 05
What You Can Learn From Yara International ASA's (OB:YAR) P/E

HPUR

NOK 8.96

Hexagon Purus

7D

-25.1%

1Y

-25.3%

KOG

NOK 1,082.00

Kongsberg Gruppen

7D

1.7%

1Y

132.2%

TOM

NOK 149.10

Tomra Systems

7D

-2.7%

1Y

23.2%

Tomra Systems (OB:TOM) Will Be Hoping To Turn Its Returns On Capital Around

Oct 03
Tomra Systems (OB:TOM) Will Be Hoping To Turn Its Returns On Capital Around

AKER

NOK 580.00

Aker

7D

3.8%

1Y

-11.0%

Is Aker (OB:AKER) A Risky Investment?

Oct 03
Is Aker (OB:AKER) A Risky Investment?

BAKKA

NOK 601.50

P/F Bakkafrost

7D

-3.6%

1Y

13.0%

There's Reason For Concern Over P/F Bakkafrost's (OB:BAKKA) Price

Oct 01
There's Reason For Concern Over P/F Bakkafrost's (OB:BAKKA) Price

SCHA

NOK 325.80

Schibsted

7D

-3.2%

1Y

36.0%

VAR

NOK 36.69

Vår Energi

7D

8.9%

1Y

10.1%

Why Investors Shouldn't Be Surprised By Vår Energi AS' (OB:VAR) P/E

Sep 06
Why Investors Shouldn't Be Surprised By Vår Energi AS' (OB:VAR) P/E

DNB

NOK 217.20

DNB Bank

7D

1.9%

1Y

0.09%

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

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

BWLPG

NOK 175.00

BWG

7D

-9.6%

1Y

77.1%

TEL

NOK 133.80

Telenor

7D

-1.5%

1Y

11.6%

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

Aug 19
Telenor (OB:TEL) Will Pay A Dividend Of NOK4.50

GJF

NOK 192.50

Gjensidige Forsikring

7D

-3.2%

1Y

21.8%