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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedFeb 23, 2025
DataAggregated Company Financials
Companies310
  • 7D0.6%
  • 3M0.9%
  • 1Y9.9%
  • YTD1.1%

The Industrials sector gained 3.5% while the market remained flat over the last week. Meanwhile, the market is actually up 9.9% over the past year. As for the next few years, earnings are expected to grow by 8.2% 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, 23 Feb 2025NOK 3.9tNOK 3.3tNOK 336.7b11.3x11.5x1.2x
Tue, 21 Jan 2025NOK 3.9tNOK 3.5tNOK 337.5b11.7x11.4x1.1x
Thu, 19 Dec 2024NOK 3.7tNOK 3.5tNOK 338.3b11.6x10.8x1.1x
Sat, 16 Nov 2024NOK 3.8tNOK 3.4tNOK 329.5b11.1x11.4x1.1x
Mon, 14 Oct 2024NOK 3.8tNOK 3.3tNOK 307.8b11.5x12.4x1.2x
Wed, 11 Sep 2024NOK 3.6tNOK 3.3tNOK 310.9b11.1x11.7x1.1x
Fri, 09 Aug 2024NOK 3.8tNOK 3.3tNOK 297.1b10.7x12.7x1.1x
Sun, 07 Jul 2024NOK 3.8tNOK 3.2tNOK 279.3b11.5x13.7x1.2x
Tue, 04 Jun 2024NOK 4.0tNOK 3.3tNOK 281.4b11.6x14.1x1.2x
Thu, 02 May 2024NOK 4.0tNOK 3.4tNOK 279.6b11.5x14.2x1.2x
Sat, 30 Mar 2024NOK 3.9tNOK 3.4tNOK 303.7b11.7x13x1.2x
Mon, 26 Feb 2024NOK 3.8tNOK 3.3tNOK 267.6b11.7x14.1x1.1x
Wed, 24 Jan 2024NOK 3.9tNOK 3.5tNOK 349.3b11.1x11.3x1.1x
Fri, 22 Dec 2023NOK 4.0tNOK 3.5tNOK 345.9b10.5x11.6x1.1x
Sun, 19 Nov 2023NOK 4.0tNOK 3.6tNOK 357.9b10.2x11.3x1.1x
Tue, 17 Oct 2023NOK 4.1tNOK 3.8tNOK 424.0b10.7x9.7x1.1x
Thu, 14 Sep 2023NOK 4.0tNOK 3.8tNOK 415.3b10.7x9.6x1.1x
Sat, 12 Aug 2023NOK 3.9tNOK 3.7tNOK 409.6b11.5x9.6x1.1x
Mon, 10 Jul 2023NOK 3.8tNOK 3.8tNOK 499.7b11.1x7.6x1x
Wed, 07 Jun 2023NOK 3.8tNOK 3.9tNOK 521.2b11.4x7.4x1x
Fri, 05 May 2023NOK 3.8tNOK 3.8tNOK 552.6b11.5x6.9x1x
Sun, 02 Apr 2023NOK 3.9tNOK 3.8tNOK 544.4b11.6x7.1x1x
Tue, 28 Feb 2023NOK 4.1tNOK 3.7tNOK 577.7b11.6x7x1.1x
Thu, 26 Jan 2023NOK 3.9tNOK 3.6tNOK 488.0b11.3x8x1.1x
Sat, 24 Dec 2022NOK 4.0tNOK 3.6tNOK 485.0b11.5x8.3x1.1x
Mon, 21 Nov 2022NOK 4.0tNOK 3.6tNOK 493.0b11.1x8x1.1x
Wed, 19 Oct 2022NOK 3.9tNOK 3.4tNOK 392.2b12x9.8x1.1x
Fri, 16 Sep 2022NOK 4.1tNOK 3.3tNOK 379.1b12.7x10.8x1.2x
Sun, 14 Aug 2022NOK 4.2tNOK 3.1tNOK 341.1b12.6x12.4x1.3x
Tue, 12 Jul 2022NOK 4.0tNOK 3.0tNOK 300.3b12x13.4x1.3x
Thu, 09 Jun 2022NOK 4.2tNOK 2.9tNOK 284.8b13.3x14.8x1.5x
Sat, 07 May 2022NOK 4.1tNOK 2.9tNOK 237.5b14.3x17.1x1.4x
Mon, 04 Apr 2022NOK 4.2tNOK 2.5tNOK 195.6b14.8x21.7x1.7x
Wed, 02 Mar 2022NOK 4.1tNOK 2.5tNOK 201.6b13.8x20.2x1.6x
Price to Earnings Ratio

20.2x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 201.6bTotal 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 11.5x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 19% 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 Market0.56%
Industrials3.53%
Tech2.78%
Financials2.69%
Consumer Discretionary1.95%
Real Estate1.23%
Materials0.39%
Telecom0.38%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Healthcare-0.58%
Energy-0.85%
Utilities-1.14%
Consumer Staples-3.93%
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 435x.
    • 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 41% over the next 5 years.
  • This is better than its past earnings decline of 25% 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%PE26.4xIndustrials
NOD Nordic SemiconductorNOK 153.507.2%
+NOK 2.0b		67.2%PS5.2xTech
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AUTO

NOK 11.97

AutoStore Holdings

7D

5.8%

1Y

-31.9%

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VAR

NOK 33.50

Vår Energi

7D

-3.0%

1Y

9.8%

SALM

NOK 575.00

SalMar

7D

-4.1%

1Y

-11.4%

SalMar ASA Just Recorded A 7.3% EPS Beat: Here's What Analysts Are Forecasting Next

Feb 22
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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%

MOWI

NOK 215.30

Mowi

7D

-3.2%

1Y

7.5%

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

Feb 20
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BAKKA

NOK 568.50

P/F Bakkafrost

7D

-9.4%

1Y

-12.8%

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
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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%

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Feb 18
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DNO

NOK 12.53

DNO

7D

9.4%

1Y

40.2%

AKRBP

NOK 238.20

Aker BP

7D

-3.1%

1Y

-7.5%

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%