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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedNov 19, 2024
DataAggregated Company Financials
Companies316
  • 7D1.1%
  • 3M-1.2%
  • 1Y1.0%
  • YTD1.2%

The market has climbed 1.1% in the last 7 days, lead by the Energy sector with a gain of 2.7%. In contrast, the Real Estate sector is lagging, dropping 4.5%. As for last year, the market performance has been flat. Looking forward, earnings are forecast to grow by 9.1% 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, 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
Fri, 26 Nov 2021NOK 3.6tNOK 2.1tNOK 128.2b15x28.3x1.7x
Price to Earnings Ratio

28.3x


Total Market Cap: NOK 3.6tTotal Earnings: NOK 128.2bTotal Revenue: NOK 2.1tTotal 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 11.3x which is lower than its 3-year average PE of 29.2x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 37% per year over the last three years.
  • Revenues for these companies have grown 17% 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 Market1.05%
Energy2.68%
Industrials1.56%
Materials1.36%
Consumer Staples0.37%
Information Technology0%
Financials0%
Health Care0%
Industrials0%
Telecom-0.031%
Healthcare-0.15%
Financials-0.41%
Utilities-0.92%
Tech-1.33%
Consumer Discretionary-1.83%
Real Estate-4.51%
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 469x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 41.0% 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 261.853.3%
+NOK 22.4b		-26.1%PE6.9xEnergy
KOG Kongsberg GruppenNOK 1.20k4.3%
+NOK 8.8b		156.7%PE43.9xIndustrials
VAR Vår EnergiNOK 35.956.9%
+NOK 5.8b		0.08%PE14xEnergy
NHY Norsk HydroNOK 70.263.2%
+NOK 4.3b		7.8%PE104.1xMaterials
SALM SalMarNOK 567.504.5%
+NOK 3.2b		-2.0%PE20.7xConsumer Staples
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EQNR

NOK 261.85

Equinor

7D

3.3%

1Y

-26.1%

KOG

NOK 1,204.00

Kongsberg Gruppen

7D

4.3%

1Y

156.7%

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 0.07

KMC Properties

7D

-97.6%

1Y

-98.6%

NHY

NOK 70.26

Norsk Hydro

7D

3.2%

1Y

7.8%

ORK

NOK 97.90

Orkla

7D

-2.9%

1Y

25.1%

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

BAKKA

NOK 633.50

P/F Bakkafrost

7D

-2.9%

1Y

21.9%

AUTO

NOK 11.52

AutoStore Holdings

7D

-6.3%

1Y

-31.8%

STB

NOK 121.30

Storebrand

7D

-2.2%

1Y

29.3%

MOWI

NOK 198.55

Mowi

7D

1.9%

1Y

6.3%

WAWI

NOK 111.90

Wallenius Wilhelmsen

7D

5.9%

1Y

16.7%

SCHA

NOK 373.60

Schibsted

7D

-1.6%

1Y

53.1%

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 35.95

Vår Energi

7D

6.9%

1Y

0.08%

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

HAUTO

NOK 128.80

Höegh Autoliners

7D

8.2%

1Y

47.2%

SALM

NOK 567.50

SalMar

7D

4.5%

1Y

-2.0%

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 65.90

Cadeler

7D

-5.0%

1Y

95.9%

BWLPG

NOK 175.00

BWG

7D

-9.6%

1Y

77.1%