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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedNov 17, 2024
DataAggregated Company Financials
Companies316
  • 7D2.3%
  • 3M-1.8%
  • 1Y2.8%
  • YTD2.2%

Over the last 7 days, the market has risen 2.3%, driven by gains of 5.5% in the Energy sector. In contrast, the Real Estate sector is lagging, dropping 4.2%. The market has been flat overall in the last year. As for the next few years, earnings are expected to grow by 9.3% per annum.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 17 Nov 2024NOK 3.8tNOK 3.4tNOK 330.2b10.8x11.4x1.1x
Tue, 15 Oct 2024NOK 3.8tNOK 3.3tNOK 307.8b11.5x12.4x1.2x
Thu, 12 Sep 2024NOK 3.7tNOK 3.3tNOK 311.4b11x11.7x1.1x
Sat, 10 Aug 2024NOK 3.8tNOK 3.3tNOK 298.1b10.9x12.6x1.1x
Mon, 08 Jul 2024NOK 3.8tNOK 3.2tNOK 278.8b11.5x13.7x1.2x
Wed, 05 Jun 2024NOK 3.9tNOK 3.3tNOK 284.3b11.5x13.7x1.2x
Fri, 03 May 2024NOK 4.0tNOK 3.4tNOK 290.1b11.4x13.7x1.2x
Sun, 31 Mar 2024NOK 3.9tNOK 3.4tNOK 303.2b11.7x13x1.2x
Tue, 27 Feb 2024NOK 3.8tNOK 3.3tNOK 268.0b11.6x14x1.1x
Thu, 25 Jan 2024NOK 3.9tNOK 3.5tNOK 347.1b11.3x11.4x1.1x
Sat, 23 Dec 2023NOK 4.0tNOK 3.5tNOK 344.1b10.5x11.7x1.2x
Mon, 20 Nov 2023NOK 4.0tNOK 3.6tNOK 357.9b10.2x11.3x1.1x
Wed, 18 Oct 2023NOK 4.1tNOK 3.8tNOK 424.0b10.7x9.7x1.1x
Fri, 15 Sep 2023NOK 4.1tNOK 3.8tNOK 415.9b10.8x9.8x1.1x
Sun, 13 Aug 2023NOK 3.9tNOK 3.7tNOK 410.3b11.1x9.6x1.1x
Tue, 11 Jul 2023NOK 3.8tNOK 3.8tNOK 495.7b11x7.7x1x
Thu, 08 Jun 2023NOK 3.9tNOK 3.9tNOK 519.8b11.4x7.5x1x
Sat, 06 May 2023NOK 3.9tNOK 3.7tNOK 543.1b11.4x7.2x1x
Mon, 03 Apr 2023NOK 3.9tNOK 3.8tNOK 544.4b11.6x7.1x1x
Wed, 01 Mar 2023NOK 4.1tNOK 3.7tNOK 577.2b11.8x7.1x1.1x
Fri, 27 Jan 2023NOK 3.9tNOK 3.6tNOK 486.2b11.3x8x1.1x
Sun, 25 Dec 2022NOK 4.0tNOK 3.6tNOK 485.2b11.5x8.3x1.1x
Tue, 22 Nov 2022NOK 3.9tNOK 3.7tNOK 497.5b10.5x7.9x1.1x
Thu, 20 Oct 2022NOK 3.9tNOK 3.4tNOK 392.1b11.9x9.8x1.1x
Sat, 17 Sep 2022NOK 4.0tNOK 3.3tNOK 380.8b12.7x10.5x1.2x
Mon, 15 Aug 2022NOK 4.2tNOK 3.1tNOK 341.2b12.6x12.4x1.3x
Wed, 13 Jul 2022NOK 4.0tNOK 3.0tNOK 300.9b12.1x13.4x1.3x
Fri, 10 Jun 2022NOK 4.2tNOK 2.9tNOK 286.3b13.2x14.7x1.5x
Sun, 08 May 2022NOK 4.1tNOK 2.9tNOK 237.5b14.3x17.1x1.4x
Tue, 05 Apr 2022NOK 4.2tNOK 2.5tNOK 195.1b14.7x21.7x1.7x
Thu, 03 Mar 2022NOK 4.3tNOK 2.5tNOK 201.4b14x21.2x1.7x
Sat, 29 Jan 2022NOK 3.9tNOK 2.2tNOK 153.7b14.9x25.3x1.8x
Mon, 27 Dec 2021NOK 3.7tNOK 2.1tNOK 128.3b14.8x28.6x1.7x
Wed, 24 Nov 2021NOK 4.0tNOK 2.2tNOK 150.7b14.7x26.5x1.8x
Price to Earnings Ratio

26.5x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 150.7bTotal Revenue: NOK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 29.2x202220232024
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 11.4x which is lower than its 3-year average PE of 29.2x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 30% per year over the last three years.
  • Revenues for these companies have grown 16% 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 Market2.30%
Energy5.53%
Industrials3.21%
Utilities1.60%
Materials0.89%
Tech0.78%
Financials0.29%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Consumer Staples-0.34%
Healthcare-0.48%
Telecom-0.76%
Consumer Discretionary-1.24%
Real Estate-4.16%
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 471x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 41.2% 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 64% 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 29% 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 271.108.2%
+NOK 55.6b		-22.3%PE7.1xEnergy
KOG Kongsberg GruppenNOK 1.20k6.2%
+NOK 12.3b		157.1%PE43.7xIndustrials
VAR Vår EnergiNOK 35.746.1%
+NOK 5.1b		1.5%PE13.9xEnergy
AKRBP Aker BPNOK 229.602.6%
+NOK 3.7b		-25.4%PE9.1xEnergy
DNB DNB BankNOK 230.700.8%
+NOK 2.7b		13.4%PB1.2xFinancials
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EQNR

NOK 271.10

Equinor

7D

8.2%

1Y

-22.3%

KOG

NOK 1,200.00

Kongsberg Gruppen

7D

6.2%

1Y

157.1%

Some Confidence Is Lacking In Kongsberg Gruppen ASA's (OB:KOG) P/E

Nov 14
Some Confidence Is Lacking In Kongsberg Gruppen ASA's (OB:KOG) P/E

KMCP

NOK 0.077

KMC Properties

7D

-97.4%

1Y

-98.5%

NHY

NOK 70.64

Norsk Hydro

7D

1.9%

1Y

8.8%

ORK

NOK 98.15

Orkla

7D

-3.5%

1Y

26.1%

Orkla (OB:ORK) Ticks All The Boxes When It Comes To Earnings Growth

Nov 13
Orkla (OB:ORK) Ticks All The Boxes When It Comes To Earnings Growth

STB

NOK 121.40

Storebrand

7D

-1.9%

1Y

28.9%

DNB

NOK 230.70

DNB Bank

7D

0.8%

1Y

13.4%

WAWI

NOK 109.00

Wallenius Wilhelmsen

7D

6.0%

1Y

15.2%

AKRBP

NOK 229.60

Aker BP

7D

2.6%

1Y

-25.4%

SCHA

NOK 370.60

Schibsted

7D

-3.7%

1Y

49.3%

Statutory Earnings May Not Be The Best Way To Understand Schibsted's (OB:SCHA) True Position

Nov 02
Statutory Earnings May Not Be The Best Way To Understand Schibsted's (OB:SCHA) True Position

VAR

NOK 35.74

Vår Energi

7D

6.1%

1Y

1.5%

Some Investors May Be Willing To Look Past Vår Energi's (OB:VAR) Soft Earnings

Oct 29
Some Investors May Be Willing To Look Past Vår Energi's (OB:VAR) Soft Earnings

SDNS

NOK 21.00

Shelf Drilling (North Sea)

7D

-29.3%

1Y

-31.6%

SALM

NOK 558.50

SalMar

7D

2.8%

1Y

-3.0%

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

Sep 09
Pinning Down SalMar ASA's (OB:SALM) P/E Is Difficult Right Now

CADLR

NOK 66.90

Cadeler

7D

-3.3%

1Y

95.7%

BWLPG

NOK 175.00

BWG

7D

-9.6%

1Y

77.1%

EISP

NOK 400.00

Eiendomsspar

7D

-7.0%

1Y

29.0%