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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMar 03, 2025
DataAggregated Company Financials
Companies308
  • 7D-0.8%
  • 3M0.5%
  • 1Y8.1%
  • YTD0.2%

In the last week, the market has been flat, with a notable exception in the Information Technology sector dropping 4.8%. More promisingly, the market is up 8.1% over the past year. As for the next few years, earnings are expected to grow by 8.3% 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
Tue, 04 Mar 2025NOK 3.8tNOK 3.4tNOK 335.8b11.5x11.4x1.1x
Thu, 30 Jan 2025NOK 3.9tNOK 3.5tNOK 337.6b12x11.5x1.1x
Sat, 28 Dec 2024NOK 3.7tNOK 3.5tNOK 340.9b11.3x10.9x1.1x
Mon, 25 Nov 2024NOK 3.8tNOK 3.4tNOK 330.0b11.4x11.5x1.1x
Wed, 23 Oct 2024NOK 3.8tNOK 3.3tNOK 316.6b11.5x12x1.1x
Fri, 20 Sep 2024NOK 3.7tNOK 3.3tNOK 305.3b11.3x12.2x1.1x
Sun, 18 Aug 2024NOK 3.8tNOK 3.3tNOK 299.7b11x12.8x1.2x
Tue, 16 Jul 2024NOK 3.8tNOK 3.3tNOK 292.3b11.2x13.1x1.2x
Thu, 13 Jun 2024NOK 3.9tNOK 3.3tNOK 285.3b11.5x13.5x1.2x
Sat, 11 May 2024NOK 4.1tNOK 3.3tNOK 287.3b11.7x14.3x1.2x
Mon, 08 Apr 2024NOK 4.0tNOK 3.3tNOK 297.6b12.2x13.4x1.2x
Wed, 06 Mar 2024NOK 3.8tNOK 3.3tNOK 291.0b11.1x13x1.1x
Fri, 02 Feb 2024NOK 3.9tNOK 3.5tNOK 347.8b11.3x11.3x1.1x
Sun, 31 Dec 2023NOK 4.0tNOK 3.5tNOK 341.0b10.9x11.9x1.2x
Tue, 28 Nov 2023NOK 4.1tNOK 3.5tNOK 357.0b10.2x11.4x1.1x
Thu, 26 Oct 2023NOK 4.0tNOK 3.8tNOK 431.8b10.7x9.2x1x
Sat, 23 Sep 2023NOK 4.1tNOK 3.8tNOK 416.6b10.6x9.8x1.1x
Mon, 21 Aug 2023NOK 3.9tNOK 3.7tNOK 423.2b10.4x9.2x1x
Wed, 19 Jul 2023NOK 3.8tNOK 3.8tNOK 474.6b10.6x7.9x1x
Fri, 16 Jun 2023NOK 3.9tNOK 3.8tNOK 500.2b11.5x7.8x1x
Sun, 14 May 2023NOK 3.9tNOK 3.8tNOK 549.2b11.8x7x1x
Tue, 11 Apr 2023NOK 3.9tNOK 3.8tNOK 504.8b11.5x7.7x1x
Thu, 09 Mar 2023NOK 4.1tNOK 3.8tNOK 558.4b12x7.3x1.1x
Sat, 04 Feb 2023NOK 4.0tNOK 3.7tNOK 499.1b11.5x8x1.1x
Mon, 02 Jan 2023NOK 4.0tNOK 3.6tNOK 483.0b11.5x8.2x1.1x
Wed, 30 Nov 2022NOK 4.1tNOK 3.6tNOK 487.8b10.9x8.4x1.1x
Fri, 28 Oct 2022NOK 4.0tNOK 3.4tNOK 393.5b12.2x10.1x1.2x
Sun, 25 Sep 2022NOK 3.8tNOK 3.4tNOK 390.8b12.3x9.6x1.1x
Tue, 23 Aug 2022NOK 4.3tNOK 3.2tNOK 366.2b12.4x11.6x1.3x
Thu, 21 Jul 2022NOK 4.1tNOK 2.9tNOK 292.8b12.3x13.9x1.4x
Sat, 18 Jun 2022NOK 4.0tNOK 3.0tNOK 297.4b12.9x13.4x1.3x
Mon, 16 May 2022NOK 4.0tNOK 2.9tNOK 245.5b13.1x16.3x1.4x
Wed, 13 Apr 2022NOK 4.2tNOK 2.5tNOK 194.8b14.5x21.8x1.7x
Fri, 11 Mar 2022NOK 4.0tNOK 2.5tNOK 203.1b13.8x19.8x1.6x
Price to Earnings Ratio

19.8x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 203.1bTotal 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 11.5x.
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 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 Market-0.77%
Telecom1.49%
Financials1.19%
Utilities0.67%
Healthcare0.23%
Information Technology0%0
Financials0%0
Health Care0%0
Industrials0%0
Real Estate-0.67%
Materials-0.87%
Consumer Staples-1.09%
Industrials-1.22%
Consumer Discretionary-1.37%
Energy-1.81%
Tech-4.83%
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 36.9% 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 54% 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 1.58k19.4%
+NOK 45.2b		130.6%PE54.3xIndustrials
DNB DNB BankNOK 262.003.0%
+NOK 11.4b		23.3%PB1.4xFinancials
TEL TelenorNOK 146.002.5%
+NOK 4.8b		26.2%PE10.3xTelecom
EQNR EquinorNOK 259.550.6%
+NOK 3.4b		-1.3%PE7.2xEnergy
GJF Gjensidige ForsikringNOK 232.402.5%
+NOK 2.8b		38.3%PE22.4xFinancials
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HAFNI

NOK 45.76

Hafnia

7D

-17.0%

1Y

-40.6%

TEL

NOK 146.00

Telenor

7D

2.5%

1Y

26.2%

Telenor's (OB:TEL) Returns On Capital Tell Us There Is Reason To Feel Uneasy

Mar 03
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GJF

NOK 232.40

Gjensidige Forsikring

7D

2.5%

1Y

38.3%

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

Mar 02
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EQNR

NOK 259.55

Equinor

7D

0.6%

1Y

-1.3%

SUBC

NOK 168.00

Subsea 7

7D

-10.2%

1Y

5.4%

AUTO

NOK 10.05

AutoStore Holdings

7D

-9.1%

1Y

-40.9%

ORK

NOK 109.60

Orkla

7D

1.5%

1Y

43.2%

NOD

NOK 137.55

Nordic Semiconductor

7D

-7.7%

1Y

49.6%

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Feb 25
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VAR

NOK 31.68

Vår Energi

7D

-4.0%

1Y

-5.5%

WAWI

NOK 86.25

Wallenius Wilhelmsen

7D

-6.9%

1Y

-16.0%

Solid Earnings Reflect Wallenius Wilhelmsen's (OB:WAWI) Strength As A Business

Feb 22
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SALM

NOK 547.00

SalMar

7D

-4.7%

1Y

-20.0%

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Feb 22
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KOG

NOK 1,582.00

Kongsberg Gruppen

7D

19.4%

1Y

130.6%

MOWI

NOK 206.20

Mowi

7D

-3.8%

1Y

0.1%

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

Feb 20
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NHY

NOK 67.26

Norsk Hydro

7D

0.7%

1Y

23.5%

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Feb 18
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PROT

NOK 322.00

Protector Forsikring

7D

4.2%

1Y

52.2%

DNB

NOK 262.00

DNB Bank

7D

3.0%

1Y

23.3%