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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 03, 2025
DataAggregated Company Financials
Companies310
  • 7D1.3%
  • 3M4.7%
  • 1Y9.4%
  • YTD2.9%

Over the last 7 days, the market has risen 1.3%, driven by gains in the Energy and Consumer Staples sectors of 1.3% and 3.9%, respectively. The market is up 9.4% over the last 12 months. Earnings are forecast to grow by 9.3% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 03 Feb 2025NOK 3.9tNOK 3.5tNOK 338.3b11.9x11.6x1.1x
Wed, 01 Jan 2025NOK 3.7tNOK 3.5tNOK 340.5b11.5x10.9x1.1x
Fri, 29 Nov 2024NOK 3.8tNOK 3.4tNOK 334.7b11.6x11.3x1.1x
Sun, 27 Oct 2024NOK 3.8tNOK 3.4tNOK 326.4b10.9x11.8x1.1x
Tue, 24 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.3x12.2x1.1x
Thu, 22 Aug 2024NOK 3.8tNOK 3.3tNOK 298.0b10.9x12.7x1.2x
Sat, 20 Jul 2024NOK 3.9tNOK 3.3tNOK 297.5b11.3x13x1.2x
Mon, 17 Jun 2024NOK 3.8tNOK 3.3tNOK 287.0b11.3x13.3x1.2x
Wed, 15 May 2024NOK 4.1tNOK 3.3tNOK 286.9b11.9x14.3x1.2x
Fri, 12 Apr 2024NOK 4.0tNOK 3.4tNOK 299.7b11.7x13.3x1.2x
Sun, 10 Mar 2024NOK 3.8tNOK 3.3tNOK 287.2b11.4x13.3x1.1x
Tue, 06 Feb 2024NOK 3.8tNOK 3.5tNOK 355.7b10.9x10.8x1.1x
Thu, 04 Jan 2024NOK 4.0tNOK 3.5tNOK 346.1b10.7x11.7x1.2x
Sat, 02 Dec 2023NOK 4.0tNOK 3.5tNOK 357.7b10.4x11.3x1.1x
Mon, 30 Oct 2023NOK 4.0tNOK 3.6tNOK 364.0b10.7x11x1.1x
Wed, 27 Sep 2023NOK 4.0tNOK 3.8tNOK 419.7b10.5x9.5x1.1x
Fri, 25 Aug 2023NOK 3.9tNOK 3.7tNOK 419.4b10.2x9.2x1x
Sun, 23 Jul 2023NOK 3.8tNOK 3.7tNOK 454.9b10.7x8.4x1x
Tue, 20 Jun 2023NOK 3.9tNOK 3.8tNOK 501.9b11.5x7.8x1x
Thu, 18 May 2023NOK 3.9tNOK 3.8tNOK 554.2b11.8x7x1x
Sat, 15 Apr 2023NOK 4.0tNOK 3.7tNOK 500.7b11.9x8x1.1x
Mon, 13 Mar 2023NOK 4.0tNOK 3.8tNOK 557.3b11.8x7.2x1.1x
Wed, 08 Feb 2023NOK 3.9tNOK 3.7tNOK 504.7b11.7x7.8x1.1x
Fri, 06 Jan 2023NOK 3.9tNOK 3.7tNOK 500.3b11.6x7.8x1.1x
Sun, 04 Dec 2022NOK 4.0tNOK 3.5tNOK 481.4b11.5x8.4x1.1x
Tue, 01 Nov 2022NOK 4.0tNOK 3.7tNOK 483.7b11.4x8.3x1.1x
Thu, 29 Sep 2022NOK 3.7tNOK 3.5tNOK 395.8b11.6x9.4x1.1x
Sat, 27 Aug 2022NOK 4.3tNOK 3.2tNOK 366.2b12.4x11.8x1.3x
Mon, 25 Jul 2022NOK 4.0tNOK 2.8tNOK 301.4b12.5x13.4x1.4x
Wed, 22 Jun 2022NOK 4.0tNOK 2.9tNOK 292.8b12.6x13.6x1.4x
Fri, 20 May 2022NOK 4.0tNOK 2.9tNOK 245.8b13.5x16.4x1.4x
Sun, 17 Apr 2022NOK 4.3tNOK 2.5tNOK 195.9b14.8x22x1.7x
Tue, 15 Mar 2022NOK 4.0tNOK 2.5tNOK 203.6b13.7x19.7x1.6x
Thu, 10 Feb 2022NOK 4.0tNOK 2.2tNOK 149.3b15.8x26.7x1.8x
Price to Earnings Ratio

26.7x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 149.3bTotal Revenue: NOK 2.2tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.7x202320242025
Current Market PE
  • Investors are relatively neutral on the Norwegian market at the moment, indicating that they expect earnings will grow in line with historical growth rates.
  • The market is trading close to its 3-year average PE ratio of 11.7x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 31% 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 Market1.35%
Consumer Discretionary5.76%
Consumer Staples3.85%
Healthcare2.28%
Telecom1.97%
Materials1.44%
Energy1.32%
Real Estate1.21%
Financials0.87%
Industrials0.079%
Tech0.07%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Utilities-0.38%
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 465x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 39.1% 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 69% 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 22% 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 273.652.1%
+NOK 15.7b		-9.1%PE7xEnergy
MOWI MowiNOK 227.305.5%
+NOK 6.1b		17.6%PE23.3xConsumer Staples
TEL TelenorNOK 138.402.5%
+NOK 4.7b		20.8%PE19.5xTelecom
NHY Norsk HydroNOK 66.962.6%
+NOK 3.4b		13.0%PE98.7xMaterials
ORK OrklaNOK 105.303.1%
+NOK 3.2b		28.7%PE18.4xConsumer Staples
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EQNR

NOK 273.65

Equinor

7D

2.1%

1Y

-9.1%

Equinor (OB:EQNR) Is Investing Its Capital With Increasing Efficiency

Feb 02
Equinor (OB:EQNR) Is Investing Its Capital With Increasing Efficiency

MOWI

NOK 227.30

Mowi

7D

5.5%

1Y

17.6%

Mowi (OB:MOWI) Will Want To Turn Around Its Return Trends

Feb 02
Mowi (OB:MOWI) Will Want To Turn Around Its Return Trends

ELMRA

NOK 30.50

Elmera Group

7D

-19.4%

1Y

0%

SUBC

NOK 187.30

Subsea 7

7D

-1.9%

1Y

36.6%

Subsea 7 S.A.'s (OB:SUBC) Price In Tune With Earnings

Jan 31
Subsea 7 S.A.'s (OB:SUBC) Price In Tune With Earnings

VAR

NOK 34.78

Vår Energi

7D

-1.2%

1Y

10.4%

Here's Why Vår Energi (OB:VAR) Has A Meaningful Debt Burden

Jan 27
Here's Why Vår Energi (OB:VAR) Has A Meaningful Debt Burden

ORK

NOK 105.30

Orkla

7D

3.1%

1Y

28.7%

Does Orkla (OB:ORK) Have A Healthy Balance Sheet?

Jan 24
Does Orkla (OB:ORK) Have A Healthy Balance Sheet?

CRAYN

NOK 106.00

Crayon Group Holding

7D

-12.7%

1Y

24.1%

SDNS

NOK 21.00

Shelf Drilling (North Sea)

7D

-29.3%

1Y

-31.6%

AKRBP

NOK 236.70

Aker BP

7D

-1.0%

1Y

-11.5%

TEL

NOK 138.40

Telenor

7D

2.5%

1Y

20.8%

Some Shareholders Feeling Restless Over Telenor ASA's (OB:TEL) P/E Ratio

Jan 20
Some Shareholders Feeling Restless Over Telenor ASA's (OB:TEL) P/E Ratio

NHY

NOK 66.96

Norsk Hydro

7D

2.6%

1Y

13.0%

BWLPG

NOK 143.70

BWG

7D

9.4%

1Y

18.0%

There's No Escaping BW LPG Limited's (OB:BWLPG) Muted Earnings Despite A 28% Share Price Rise

Jan 17
There's No Escaping BW LPG Limited's (OB:BWLPG) Muted Earnings Despite A 28% Share Price Rise

KOG

NOK 1,346.00

Kongsberg Gruppen

7D

-0.7%

1Y

147.4%

LSG

NOK 56.15

Lerøy Seafood Group

7D

4.7%

1Y

33.4%

DNB

NOK 240.80

DNB Bank

7D

-0.3%

1Y

17.2%

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

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

SALM

NOK 599.50

SalMar

7D

2.8%

1Y

0.2%