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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMar 06, 2025
DataAggregated Company Financials
Companies307
  • 7D-2.2%
  • 3M-1.4%
  • 1Y6.4%
  • YTD-1.3%

Over the last 7 days, the market has dropped 2.2%, driven by a pullback of 6.0% in the Energy sector. In contrast, the Industrials sector has actually gained 4.0%. In the last year, the market is actually up 6.4%. Earnings are forecast to grow by 8.5% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Mar 2025NOK 3.8tNOK 3.3tNOK 330.5b11.3x11.4x1.1x
Sat, 01 Feb 2025NOK 3.9tNOK 3.5tNOK 337.4b12x11.6x1.1x
Mon, 30 Dec 2024NOK 3.7tNOK 3.5tNOK 340.8b11.3x10.9x1.1x
Wed, 27 Nov 2024NOK 3.8tNOK 3.4tNOK 337.2b11x11.2x1.1x
Fri, 25 Oct 2024NOK 3.8tNOK 3.4tNOK 317.1b11.1x12x1.1x
Sun, 22 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.3x12.2x1.1x
Tue, 20 Aug 2024NOK 3.9tNOK 3.3tNOK 297.2b11.2x13x1.2x
Thu, 18 Jul 2024NOK 3.8tNOK 3.3tNOK 291.6b11.4x13.2x1.2x
Sat, 15 Jun 2024NOK 3.8tNOK 3.3tNOK 286.9b11.3x13.3x1.2x
Mon, 13 May 2024NOK 4.1tNOK 3.3tNOK 287.2b11.7x14.3x1.2x
Wed, 10 Apr 2024NOK 4.0tNOK 3.3tNOK 297.1b12.1x13.4x1.2x
Fri, 08 Mar 2024NOK 3.8tNOK 3.3tNOK 286.9b11.2x13.2x1.1x
Sun, 04 Feb 2024NOK 3.9tNOK 3.6tNOK 354.2b11.3x11.1x1.1x
Tue, 02 Jan 2024NOK 4.0tNOK 3.5tNOK 341.0b10.9x11.9x1.2x
Thu, 30 Nov 2023NOK 4.0tNOK 3.5tNOK 358.0b10.1x11.2x1.1x
Sat, 28 Oct 2023NOK 4.0tNOK 3.6tNOK 363.4b10.7x11x1.1x
Mon, 25 Sep 2023NOK 4.1tNOK 3.8tNOK 417.8b10.5x9.7x1.1x
Wed, 23 Aug 2023NOK 3.9tNOK 3.7tNOK 423.6b10.4x9.2x1x
Fri, 21 Jul 2023NOK 3.8tNOK 3.7tNOK 455.1b10.6x8.4x1x
Sun, 18 Jun 2023NOK 3.9tNOK 3.8tNOK 498.2b11.5x7.9x1x
Tue, 16 May 2023NOK 3.9tNOK 3.8tNOK 546.1b11.9x7.1x1x
Thu, 13 Apr 2023NOK 4.0tNOK 3.8tNOK 503.0b12x7.9x1.1x
Sat, 11 Mar 2023NOK 4.0tNOK 3.8tNOK 556.3b12x7.2x1.1x
Mon, 06 Feb 2023NOK 4.0tNOK 3.6tNOK 502.9b11.5x7.9x1.1x
Wed, 04 Jan 2023NOK 3.9tNOK 3.6tNOK 493.0b11.7x8x1.1x
Fri, 02 Dec 2022NOK 4.1tNOK 3.5tNOK 479.1b11.5x8.6x1.2x
Sun, 30 Oct 2022NOK 4.0tNOK 3.6tNOK 481.6b11.6x8.3x1.1x
Tue, 27 Sep 2022NOK 3.8tNOK 3.4tNOK 395.2b12x9.6x1.1x
Thu, 25 Aug 2022NOK 4.3tNOK 3.2tNOK 362.6b12.4x12x1.4x
Sat, 23 Jul 2022NOK 4.0tNOK 3.0tNOK 293.0b12.5x13.6x1.3x
Mon, 20 Jun 2022NOK 4.0tNOK 3.0tNOK 297.4b12.9x13.4x1.3x
Wed, 18 May 2022NOK 4.0tNOK 2.9tNOK 245.4b13.2x16.4x1.4x
Fri, 15 Apr 2022NOK 4.3tNOK 2.5tNOK 195.7b14.8x22x1.7x
Sun, 13 Mar 2022NOK 4.0tNOK 2.5tNOK 203.4b13.8x19.7x1.6x
Price to Earnings Ratio

19.7x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 203.4bTotal 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 18% per year over the last three years.
  • Revenues for these companies have grown 9.3% 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 Market-2.23%
Industrials4.00%
Financials-0.38%
Real Estate-0.84%
Healthcare-1.14%
Telecom-1.50%
Consumer Discretionary-2.30%
Materials-2.80%
Tech-3.91%
Consumer Staples-4.44%
Energy-5.98%
Utilities-6.03%
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 433x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 36.3% 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 56% over the next 5 years.
  • This is better than its past earnings decline of 61% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 21% 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 1.63k19.2%
+NOK 46.1b		142.4%PE55.9xIndustrials
DNB DNB BankNOK 261.100.9%
+NOK 3.6b		22.4%PB1.4xFinancials
KIT KitronNOK 43.987.3%
+NOK 592.7m		27.5%PE26.5xTech
OLT Olav Thon EiendomsselskapNOK 249.002.0%
+NOK 507.4m		21.5%PE11.3xReal Estate
GJF Gjensidige ForsikringNOK 232.200.4%
+NOK 499.9m		38.6%PE23xFinancials
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NOK 261.10

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0.9%

1Y

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AUTO

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1Y

-39.5%

ANDF

NOK 35.50

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7D

-8.0%

1Y

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GJF

NOK 232.20

Gjensidige Forsikring

7D

0.4%

1Y

38.6%

Gjensidige Forsikring's (OB:GJF) Upcoming Dividend Will Be Larger Than Last Year's

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EQNR

NOK 244.05

Equinor

7D

-4.3%

1Y

-10.6%

MEDI

NOK 173.50

Medistim

7D

13.0%

1Y

-8.7%

SUBC

NOK 160.00

Subsea 7

7D

-10.5%

1Y

0.9%

KIT

NOK 43.98

Kitron

7D

7.3%

1Y

27.5%

ORK

NOK 108.90

Orkla

7D

0.5%

1Y

41.9%

VAR

NOK 29.60

Vår Energi

7D

-7.7%

1Y

-14.3%

OLT

NOK 249.00

Olav Thon Eiendomsselskap

7D

2.0%

1Y

21.5%

Olav Thon Eiendomsselskap's (OB:OLT) Earnings Are Of Questionable Quality

Feb 22
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SALM

NOK 537.50

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-6.2%

1Y

-22.5%

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KOG

NOK 1,629.00

Kongsberg Gruppen

7D

19.2%

1Y

142.4%

MOWI

NOK 199.05

Mowi

7D

-7.7%

1Y

-2.8%

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Feb 20
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AKER

NOK 572.00

Aker

7D

-7.9%

1Y

-2.1%