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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedJun 02, 2025
DataAggregated Company Financials
Companies302
  • 7D-0.3%
  • 3M3.1%
  • 1Y0.2%
  • YTD1.7%

Over the last 7 days, the market has remained flat, with no particular sector making any big moves this week. As for the longer term, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 8.8% 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, 02 Jun 2025NOK 3.9tNOK 3.3tNOK 305.9b12.1x12.7x1.2x
Wed, 30 Apr 2025NOK 3.7tNOK 3.3tNOK 321.2b12.1x11.7x1.2x
Fri, 28 Mar 2025NOK 4.0tNOK 3.3tNOK 319.0b12.1x12.4x1.2x
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
Price to Earnings Ratio

14.8x


Total Market Cap: NOK 4.2tTotal Earnings: NOK 284.8bTotal Revenue: NOK 2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 10.9x202320242025
Current Market PE
  • Investors are optimistic on the Norwegian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 12.7x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 2.4% per year over the last three years.
  • Revenues for these companies have grown 4.2% 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-0.30%
Real Estate1.90%
Tech1.66%
Industrials1.24%
Consumer Discretionary0.71%
Telecom0.54%
Utilities-0.41%
Energy-0.76%
Financials-0.86%
Consumer Staples-1.35%
Materials-1.42%
Healthcare-2.28%
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 409x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 34.0% which is higher than its past year's earnings decline of 8.8% 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 18% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 28% 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
AKRBP Aker BPNOK 244.103.6%
+NOK 5.3b		-8.2%PE9.5xEnergy
VAR Vår EnergiNOK 30.393.6%
+NOK 2.6b		-18.3%PE12.1xEnergy
SUBC Subsea 7NOK 174.905.3%
+NOK 2.6b		-8.8%PE26.5xEnergy
OLT Olav Thon EiendomsselskapNOK 277.008.6%
+NOK 2.2b		24.8%PE11.8xReal Estate
NAS Norwegian Air ShuttleNOK 14.259.2%
+NOK 1.3b		-5.4%PE11xIndustrials
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