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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedDec 22, 2024
DataAggregated Company Financials
Companies318
  • 7D-2.8%
  • 3M-2.3%
  • 1Y-0.8%
  • YTD-1.7%

Over the last 7 days, the market has dropped 2.8%, driven by declines in the Consumer Staples and Energy sectors of 6.3% and 1.8%, respectively. In the last 12 months the market has been flat overall. Earnings are forecast to grow by 9.6% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 22 Dec 2024NOK 3.6tNOK 3.5tNOK 339.9b11.4x10.7x1x
Tue, 19 Nov 2024NOK 3.7tNOK 3.4tNOK 331.2b10.5x11.3x1.1x
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
Price to Earnings Ratio

28.8x


Total Market Cap: NOK 3.7tTotal Earnings: NOK 127.9bTotal Revenue: NOK 2.1tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 28.7x202220232024
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 10.7x which is lower than its 3-year average PE of 28.7x.
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 Market-2.76%
Healthcare0.23%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Utilities-0.66%
Real Estate-1.52%
Financials-1.77%
Energy-1.81%
Consumer Discretionary-2.19%
Tech-2.26%
Industrials-2.64%
Telecom-3.28%
Materials-4.82%
Consumer Staples-6.27%
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 421x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 42.4% which is higher than its past year's earnings decline of 9.3% per year.
Forecasted Growth
  • Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 63% over the next 5 years.
  • This is better than its past earnings decline of 81% per year.
  • In contrast, the Telecom sector is expected to see its earnings decline by 28% 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
BELCO BelshipsNOK 20.2525.5%
+NOK 1.0b		7.5%PE6.6xIndustrials
TOM Tomra SystemsNOK 150.802.2%
+NOK 976.1m		26.8%PE73.5xIndustrials
ADE AdevintaNOK 114.200.4%
+NOK 487.3m		41.5%PS6.5xTelecom
CLCO CoolNOK 85.857.9%
+NOK 335.6m		-33.4%PE4.4xEnergy
OLT Olav Thon EiendomsselskapNOK 225.001.4%
+NOK 304.4m		26.1%PS4.7xReal Estate
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7 Investing Lessons From 2024

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Richard Bowman
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This is our last newsletter of the year and a good time to focus on the third of those principles - the investing lessons we can all take from 2024...

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BELCO

NOK 20.25

Belships

7D

25.5%

1Y

7.5%

PHO

NOK 64.00

Photocure

7D

14.1%

1Y

-3.9%

Photocure ASA's (OB:PHO) Shares Leap 29% Yet They're Still Not Telling The Full Story

Dec 21
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TOM

NOK 150.80

Tomra Systems

7D

2.2%

1Y

26.8%

NAPA

NOK 24.50

Napatech

7D

8.9%

1Y

85.6%

YAR

NOK 299.60

Yara International

7D

-7.4%

1Y

-17.1%

Is Yara International (OB:YAR) A Risky Investment?

Dec 19
Is Yara International (OB:YAR) A Risky Investment?

NHY

NOK 62.36

Norsk Hydro

7D

-4.3%

1Y

-8.7%

DNB

NOK 224.20

DNB Bank

7D

-2.3%

1Y

6.2%

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

Dec 17
Do DNB Bank's (OB:DNB) Earnings Warrant Your Attention?

SALM

NOK 539.50

SalMar

7D

-9.3%

1Y

0.3%

CLCO

NOK 85.85

Cool

7D

7.9%

1Y

-33.4%

Investors Don't See Light At End Of Cool Company Ltd.'s (OB:CLCO) Tunnel And Push Stock Down 27%

Dec 08
Investors Don't See Light At End Of Cool Company Ltd.'s (OB:CLCO) Tunnel And Push Stock Down 27%

SCHA

NOK 349.00

Schibsted

7D

-6.8%

1Y

19.5%

EQNR

NOK 254.45

Equinor

7D

-1.2%

1Y

-21.7%

Insufficient Growth At Equinor ASA (OB:EQNR) Hampers Share Price

Dec 01
Insufficient Growth At Equinor ASA (OB:EQNR) Hampers Share Price

MOWI

NOK 195.45

Mowi

7D

-5.6%

1Y

11.1%

OLT

NOK 225.00

Olav Thon Eiendomsselskap

7D

1.4%

1Y

26.1%

NORCO

NOK 42.90

Norconsult

7D

2.1%

1Y

81.7%

There May Be Some Bright Spots In Norconsult's (OB:NORCO) Earnings

Nov 21
There May Be Some Bright Spots In Norconsult's (OB:NORCO) Earnings

AKRBP

NOK 213.10

Aker BP

7D

-4.8%

1Y

-28.3%

ADE

NOK 114.20

Adevinta

7D

0.4%

1Y

41.5%