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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 21, 2025
DataAggregated Company Financials
Companies310
  • 7D0.5%
  • 3M0.3%
  • 1Y9.0%
  • YTD0.7%

In the last week, the market has stayed flat, however the Industrials sector stood out, gaining 3.5%. As for the longer term, the market has risen 9.0% in the past 12 months. Looking forward, earnings are forecast to grow by 8.7% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 22 Feb 2025NOK 3.8tNOK 3.3tNOK 328.6b11.3x11.7x1.2x
Mon, 20 Jan 2025NOK 3.9tNOK 3.5tNOK 340.1b12.2x11.4x1.1x
Wed, 18 Dec 2024NOK 3.7tNOK 3.5tNOK 337.5b11.3x10.9x1.1x
Fri, 15 Nov 2024NOK 3.7tNOK 3.4tNOK 330.6b10.6x11.3x1.1x
Sun, 13 Oct 2024NOK 3.8tNOK 3.3tNOK 307.8b11.5x12.4x1.2x
Tue, 10 Sep 2024NOK 3.7tNOK 3.3tNOK 311.1b11.1x11.8x1.1x
Thu, 08 Aug 2024NOK 3.8tNOK 3.3tNOK 296.5b10.9x12.7x1.1x
Sat, 06 Jul 2024NOK 3.8tNOK 3.3tNOK 284.4b11.5x13.5x1.2x
Mon, 03 Jun 2024NOK 4.0tNOK 3.3tNOK 281.9b11.7x14x1.2x
Wed, 01 May 2024NOK 4.0tNOK 3.4tNOK 279.2b11.5x14.3x1.2x
Fri, 29 Mar 2024NOK 3.9tNOK 3.4tNOK 303.9b11.7x13x1.2x
Sun, 25 Feb 2024NOK 3.8tNOK 3.3tNOK 267.6b11.7x14.1x1.1x
Tue, 23 Jan 2024NOK 3.9tNOK 3.5tNOK 350.1b11.1x11.3x1.1x
Thu, 21 Dec 2023NOK 4.0tNOK 3.5tNOK 346.3b10.5x11.6x1.2x
Sat, 18 Nov 2023NOK 4.0tNOK 3.6tNOK 361.2b10.3x11.1x1.1x
Mon, 16 Oct 2023NOK 4.1tNOK 3.8tNOK 423.2b10.7x9.7x1.1x
Wed, 13 Sep 2023NOK 4.0tNOK 3.8tNOK 414.4b10.8x9.7x1.1x
Fri, 11 Aug 2023NOK 3.9tNOK 3.6tNOK 404.2b11x9.7x1.1x
Sun, 09 Jul 2023NOK 3.8tNOK 3.8tNOK 499.7b11.1x7.6x1x
Tue, 06 Jun 2023NOK 3.9tNOK 3.9tNOK 520.9b11.2x7.4x1x
Thu, 04 May 2023NOK 3.9tNOK 3.8tNOK 554.5b11.6x7x1x
Sat, 01 Apr 2023NOK 3.9tNOK 3.8tNOK 548.2b11.4x7.1x1x
Mon, 27 Feb 2023NOK 4.0tNOK 3.7tNOK 579.1b11.5x7x1.1x
Wed, 25 Jan 2023NOK 3.9tNOK 3.6tNOK 485.9b11.8x8.1x1.1x
Fri, 23 Dec 2022NOK 4.0tNOK 3.6tNOK 485.3b11.5x8.3x1.1x
Sun, 20 Nov 2022NOK 4.0tNOK 3.6tNOK 493.4b11.1x8x1.1x
Tue, 18 Oct 2022NOK 3.8tNOK 3.4tNOK 393.1b11.9x9.7x1.1x
Thu, 15 Sep 2022NOK 4.1tNOK 3.3tNOK 377.7b12.6x10.9x1.2x
Sat, 13 Aug 2022NOK 4.2tNOK 3.1tNOK 341.1b12.6x12.4x1.3x
Mon, 11 Jul 2022NOK 4.0tNOK 3.0tNOK 298.3b12x13.4x1.3x
Wed, 08 Jun 2022NOK 4.2tNOK 2.9tNOK 284.8b13.3x14.8x1.5x
Fri, 06 May 2022NOK 4.1tNOK 2.7tNOK 206.8b14.2x19.9x1.5x
Sun, 03 Apr 2022NOK 4.2tNOK 2.5tNOK 195.6b14.8x21.7x1.7x
Tue, 01 Mar 2022NOK 4.0tNOK 2.5tNOK 199.1b13.8x20x1.6x
Price to Earnings Ratio

20x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 199.1bTotal Revenue: NOK 2.5tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.5x202320242025
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 11.6x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 18% per year over the last three years.
  • Revenues for these companies have grown 10% 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 Market0.52%
Industrials3.49%
Tech3.12%
Financials1.64%
Real Estate1.60%
Consumer Discretionary0.89%
Materials0.44%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Energy-0.29%
Utilities-1.21%
Telecom-1.26%
Healthcare-2.03%
Consumer Staples-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 436x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 36.4% which is higher than its past year's earnings decline of 1.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 45% over the next 5 years.
  • This is better than its past earnings decline of 41% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 20% 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
KOG Kongsberg GruppenNOK 1.34k16.2%
+NOK 32.7b		99.6%PE45.9xIndustrials
DNB DNB BankNOK 252.605.3%
+NOK 19.0b		21.9%PB1.3xFinancials
TEL TelenorNOK 141.201.9%
+NOK 3.6b		21.9%PE10xTelecom
AUTO AutoStore HoldingsNOK 11.975.8%
+NOK 2.2b		-31.9%PE26.5xIndustrials
NOD Nordic SemiconductorNOK 153.507.2%
+NOK 2.0b		67.2%PS5.2xTech
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Latest News

SB1NO

NOK 158.00

SpareBank 1 Sør-Norge

7D

1.8%

1Y

23.8%

TEL

NOK 141.20

Telenor

7D

1.9%

1Y

21.9%

KOG

NOK 1,337.00

Kongsberg Gruppen

7D

16.2%

1Y

99.6%

AUTO

NOK 11.97

AutoStore Holdings

7D

5.8%

1Y

-31.9%

MOWI

NOK 215.30

Mowi

7D

-3.2%

1Y

7.5%

Solid Earnings Reflect Mowi's (OB:MOWI) Strength As A Business

Feb 20
Solid Earnings Reflect Mowi's (OB:MOWI) Strength As A Business

BAKKA

NOK 568.50

P/F Bakkafrost

7D

-9.4%

1Y

-12.8%

SALM

NOK 575.00

SalMar

7D

-4.1%

1Y

-11.4%

TOM

NOK 175.00

Tomra Systems

7D

-8.1%

1Y

19.7%

Earnings Update: Here's Why Analysts Just Lifted Their Tomra Systems ASA (OB:TOM) Price Target To kr171

Feb 19
Earnings Update: Here's Why Analysts Just Lifted Their Tomra Systems ASA (OB:TOM) Price Target To kr171

AGAS

NOK 17.72

Avance Gas Holding

7D

-79.1%

1Y

-85.0%

NHY

NOK 66.44

Norsk Hydro

7D

0.9%

1Y

18.3%

Earnings Miss: Norsk Hydro ASA Missed EPS By 20% And Analysts Are Revising Their Forecasts

Feb 18
Earnings Miss: Norsk Hydro ASA Missed EPS By 20% And Analysts Are Revising Their Forecasts

DNO

NOK 12.53

DNO

7D

9.4%

1Y

40.2%

AKRBP

NOK 238.20

Aker BP

7D

-3.1%

1Y

-7.5%

VAR

NOK 33.50

Vår Energi

7D

-3.0%

1Y

9.8%

SCHA

NOK 316.00

Schibsted

7D

-3.8%

1Y

-1.1%

DNB

NOK 252.60

DNB Bank

7D

5.3%

1Y

21.9%

NOD

NOK 153.50

Nordic Semiconductor

7D

7.2%

1Y

67.2%