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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 01, 2025
DataAggregated Company Financials
Companies305
  • 7D0.8%
  • 3M-5.0%
  • 1Y-0.7%
  • YTD-2.0%

Over the last 7 days, the market has remained flat, although notably the Industrials sector gained 4.7% in that time. Similarly, the market is flat for the past 12 months. Earnings are forecast to grow by 5.4% 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, 01 May 2025NOK 3.7tNOK 3.3tNOK 321.8b12.1x11.6x1.2x
Sat, 29 Mar 2025NOK 3.9tNOK 3.3tNOK 319.1b12.1x12.2x1.2x
Mon, 24 Feb 2025NOK 3.9tNOK 3.3tNOK 336.7b11.3x11.5x1.2x
Wed, 22 Jan 2025NOK 3.8tNOK 3.5tNOK 337.5b11.6x11.4x1.1x
Fri, 20 Dec 2024NOK 3.7tNOK 3.5tNOK 342.3b11.4x10.7x1x
Sun, 17 Nov 2024NOK 3.8tNOK 3.4tNOK 330.2b10.8x11.4x1.1x
Tue, 15 Oct 2024NOK 3.8tNOK 3.3tNOK 307.8b11.5x12.4x1.2x
Thu, 12 Sep 2024NOK 3.7tNOK 3.3tNOK 311.4b11x11.7x1.1x
Sat, 10 Aug 2024NOK 3.8tNOK 3.3tNOK 298.1b10.9x12.6x1.1x
Mon, 08 Jul 2024NOK 3.8tNOK 3.2tNOK 278.8b11.5x13.7x1.2x
Wed, 05 Jun 2024NOK 3.9tNOK 3.3tNOK 284.3b11.5x13.7x1.2x
Fri, 03 May 2024NOK 4.0tNOK 3.4tNOK 290.1b11.4x13.7x1.2x
Sun, 31 Mar 2024NOK 3.9tNOK 3.4tNOK 303.2b11.7x13x1.2x
Tue, 27 Feb 2024NOK 3.8tNOK 3.3tNOK 268.0b11.6x14x1.1x
Thu, 25 Jan 2024NOK 3.9tNOK 3.5tNOK 347.1b11.3x11.4x1.1x
Sat, 23 Dec 2023NOK 4.0tNOK 3.5tNOK 344.1b10.5x11.7x1.2x
Mon, 20 Nov 2023NOK 4.0tNOK 3.6tNOK 357.9b10.2x11.3x1.1x
Wed, 18 Oct 2023NOK 4.1tNOK 3.8tNOK 424.0b10.7x9.7x1.1x
Fri, 15 Sep 2023NOK 4.1tNOK 3.8tNOK 415.9b10.8x9.8x1.1x
Sun, 13 Aug 2023NOK 3.9tNOK 3.7tNOK 410.3b11.1x9.6x1.1x
Tue, 11 Jul 2023NOK 3.8tNOK 3.8tNOK 495.7b11x7.7x1x
Thu, 08 Jun 2023NOK 3.9tNOK 3.9tNOK 519.8b11.4x7.5x1x
Sat, 06 May 2023NOK 3.9tNOK 3.7tNOK 543.1b11.4x7.2x1x
Mon, 03 Apr 2023NOK 3.9tNOK 3.8tNOK 544.4b11.6x7.1x1x
Wed, 01 Mar 2023NOK 4.1tNOK 3.7tNOK 577.2b11.8x7.1x1.1x
Fri, 27 Jan 2023NOK 3.9tNOK 3.6tNOK 486.2b11.3x8x1.1x
Sun, 25 Dec 2022NOK 4.0tNOK 3.6tNOK 485.2b11.5x8.3x1.1x
Tue, 22 Nov 2022NOK 3.9tNOK 3.7tNOK 497.5b10.5x7.9x1.1x
Thu, 20 Oct 2022NOK 3.9tNOK 3.4tNOK 392.1b11.9x9.8x1.1x
Sat, 17 Sep 2022NOK 4.0tNOK 3.3tNOK 380.8b12.7x10.5x1.2x
Mon, 15 Aug 2022NOK 4.2tNOK 3.1tNOK 341.2b12.6x12.4x1.3x
Wed, 13 Jul 2022NOK 4.0tNOK 3.0tNOK 300.9b12.1x13.4x1.3x
Fri, 10 Jun 2022NOK 4.2tNOK 2.9tNOK 286.3b13.2x14.7x1.5x
Sun, 08 May 2022NOK 4.1tNOK 2.9tNOK 237.5b14.3x17.1x1.4x
Price to Earnings Ratio

17.1x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 237.5bTotal Revenue: NOK 2.9tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11x202320242025
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 11.0x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 11% per year over the last three years.
  • Revenues for these companies have grown 4.3% 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 Market0.79%
Industrials4.66%
Telecom4.56%
Utilities2.17%
Real Estate1.48%
Consumer Discretionary1.33%
Healthcare0.67%
Materials0.50%
Tech0.20%
Energy-0.20%
Financials-0.57%
Consumer Staples-2.32%
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 416x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.7% which is higher than its past year's earnings decline of 1.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 49% 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 15% 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 1.67k10.7%
+NOK 28.3b		112.2%PE57.2xIndustrials
TEL TelenorNOK 156.205.5%
+NOK 11.1b		22.1%PE11.5xTelecom
SUBC Subsea 7NOK 156.506.5%
+NOK 2.8b		-13.2%PE22.1xEnergy
YAR Yara InternationalNOK 335.203.3%
+NOK 2.8b		5.6%PE28.3xMaterials
TOM Tomra SystemsNOK 162.505.9%
+NOK 2.7b		18.0%PE43.4xIndustrials
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TEL

NOK 156.20

Telenor

7D

5.5%

1Y

22.1%

ORK

NOK 115.60

Orkla

7D

-4.1%

1Y

52.5%

KOG

NOK 1,668.00

Kongsberg Gruppen

7D

10.7%

1Y

112.2%

TOM

NOK 162.50

Tomra Systems

7D

5.9%

1Y

18.0%

SCHA

NOK 315.60

Schibsted

7D

2.1%

1Y

-0.7%

EQNR

NOK 237.90

Equinor

7D

-0.7%

1Y

-20.4%

DNB

NOK 258.80

DNB Bank

7D

-2.5%

1Y

33.3%

YAR

NOK 335.20

Yara International

7D

3.3%

1Y

5.6%

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NOD

NOK 102.50

Nordic Semiconductor

7D

-11.1%

1Y

-17.0%

NHY

NOK 54.60

Norsk Hydro

7D

-2.5%

1Y

-20.8%

AUTO

NOK 4.65

AutoStore Holdings

7D

-38.6%

1Y

-70.9%

PROT

NOK 365.50

Protector Forsikring

7D

5.8%

1Y

61.7%

Results: Protector Forsikring ASA Beat Earnings Expectations And Analysts Now Have New Forecasts

Apr 27
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VAR

NOK 28.57

Vår Energi

7D

-4.2%

1Y

-21.5%

SALM

NOK 512.50

SalMar

7D

-3.3%

1Y

-26.9%

AFG

NOK 149.00

AF Gruppen

7D

10.7%

1Y

3.9%

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SUBC

NOK 156.50

Subsea 7

7D

6.5%

1Y

-13.2%