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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 08, 2025
DataAggregated Company Financials
Companies303
  • 7D1.3%
  • 3M-2.2%
  • 1Y-1.1%
  • YTD-0.7%

Over the last 7 days, the market has risen 1.4%, driven by gains of 4.0% in the Industrials sector. The market has been flat overall in the last year. Looking forward, earnings are forecast to grow by 6.1% 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, 08 May 2025NOK 3.8tNOK 3.3tNOK 310.1b12.2x12.2x1.1x
Sat, 05 Apr 2025NOK 3.6tNOK 3.3tNOK 320.8b11.2x11.2x1.1x
Mon, 03 Mar 2025NOK 3.8tNOK 3.4tNOK 335.8b11.5x11.4x1.1x
Wed, 29 Jan 2025NOK 3.9tNOK 3.5tNOK 337.7b12.1x11.4x1.1x
Fri, 27 Dec 2024NOK 3.7tNOK 3.5tNOK 340.3b11.2x10.8x1.1x
Sun, 24 Nov 2024NOK 3.8tNOK 3.4tNOK 330.1b11x11.5x1.1x
Tue, 22 Oct 2024NOK 3.8tNOK 3.3tNOK 315.4b11.5x11.9x1.1x
Thu, 19 Sep 2024NOK 3.7tNOK 3.3tNOK 307.2b11.3x12x1.1x
Sat, 17 Aug 2024NOK 3.8tNOK 3.3tNOK 298.9b11.2x12.8x1.2x
Mon, 15 Jul 2024NOK 3.9tNOK 3.3tNOK 290.9b11.1x13.3x1.2x
Wed, 12 Jun 2024NOK 3.9tNOK 3.3tNOK 287.2b11.4x13.4x1.2x
Fri, 10 May 2024NOK 4.0tNOK 3.3tNOK 288.0b11.4x14x1.2x
Sun, 07 Apr 2024NOK 4.0tNOK 3.3tNOK 297.7b12.2x13.4x1.2x
Tue, 05 Mar 2024NOK 3.8tNOK 3.3tNOK 291.4b11.2x13x1.1x
Thu, 01 Feb 2024NOK 3.9tNOK 3.5tNOK 349.1b11.3x11.3x1.1x
Sat, 30 Dec 2023NOK 4.0tNOK 3.4tNOK 340.1b11x11.9x1.2x
Mon, 27 Nov 2023NOK 4.1tNOK 3.6tNOK 357.7b10.2x11.4x1.1x
Wed, 25 Oct 2023NOK 4.0tNOK 3.8tNOK 427.4b10.9x9.3x1x
Fri, 22 Sep 2023NOK 4.1tNOK 3.8tNOK 418.0b10.6x9.7x1.1x
Sun, 20 Aug 2023NOK 3.9tNOK 3.7tNOK 423.2b10.4x9.2x1x
Tue, 18 Jul 2023NOK 3.7tNOK 3.8tNOK 473.6b10.6x7.9x1x
Thu, 15 Jun 2023NOK 3.9tNOK 3.8tNOK 502.0b11.5x7.8x1x
Sat, 13 May 2023NOK 3.9tNOK 3.8tNOK 548.7b11.8x7.1x1x
Mon, 10 Apr 2023NOK 3.9tNOK 3.8tNOK 504.8b11.5x7.7x1x
Wed, 08 Mar 2023NOK 4.1tNOK 3.8tNOK 559.0b11.9x7.3x1.1x
Fri, 03 Feb 2023NOK 3.9tNOK 3.6tNOK 491.4b11.6x8x1.1x
Sun, 01 Jan 2023NOK 4.0tNOK 3.6tNOK 483.0b11.5x8.3x1.1x
Tue, 29 Nov 2022NOK 4.0tNOK 3.6tNOK 487.0b10.7x8.3x1.1x
Thu, 27 Oct 2022NOK 3.9tNOK 3.4tNOK 399.2b11.7x9.8x1.1x
Sat, 24 Sep 2022NOK 3.8tNOK 3.4tNOK 390.8b12.3x9.6x1.1x
Mon, 22 Aug 2022NOK 4.3tNOK 3.2tNOK 364.7b12.4x11.7x1.3x
Wed, 20 Jul 2022NOK 3.9tNOK 3.0tNOK 293.4b12.1x13.3x1.3x
Fri, 17 Jun 2022NOK 4.0tNOK 3.0tNOK 297.1b12.6x13.4x1.3x
Sun, 15 May 2022NOK 4.0tNOK 2.9tNOK 245.5b13.1x16.3x1.4x
Price to Earnings Ratio

16.3x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 245.5bTotal 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 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 9.5% 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 Market1.26%
Tech5.35%
Financials4.02%
Telecom3.82%
Consumer Discretionary2.87%
Materials2.08%
Healthcare1.01%
Utilities0.94%
Real Estate0.50%
Industrials0.26%
Energy-0.39%
Consumer Staples-1.32%
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 414x.
    • 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 1.6% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 50% over the next 5 years.
  • This is better than its past earnings decline of 12% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 24% 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
DNB DNB BankNOK 271.504.9%
+NOK 18.8b		34.0%PB1.4xFinancials
SCHA SchibstedNOK 354.6012.4%
+NOK 8.8b		7.1%PE32.4xTelecom
KOG Kongsberg GruppenNOK 1.71k2.5%
+NOK 7.2b		108.8%PE58.6xIndustrials
GJF Gjensidige ForsikringNOK 253.404.5%
+NOK 5.4b		37.6%PE23xFinancials
ORK OrklaNOK 118.402.4%
+NOK 2.8b		44.0%PE19.5xConsumer Staples
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NOK 354.60

Schibsted

7D

12.4%

1Y

7.1%

AMSC

NOK 1.54

AMSC

7D

-94.3%

1Y

-95.2%

KOG

NOK 1,709.00

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7D

2.5%

1Y

108.8%

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ORK

NOK 118.40

Orkla

7D

2.4%

1Y

44.0%

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BAKKA

NOK 493.60

P/F Bakkafrost

7D

-5.4%

1Y

-21.1%

EQNR

NOK 236.40

Equinor

7D

-0.6%

1Y

-22.4%

NOD

NOK 115.00

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7D

12.2%

1Y

-12.9%

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MOWI

NOK 186.60

Mowi

7D

-1.8%

1Y

-4.5%

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DNB

NOK 271.50

DNB Bank

7D

4.9%

1Y

34.0%

GJF

NOK 253.40

Gjensidige Forsikring

7D

4.5%

1Y

37.6%

TOM

NOK 149.70

Tomra Systems

7D

-7.9%

1Y

7.2%

YAR

NOK 344.00

Yara International

7D

2.6%

1Y

8.4%

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VAR

NOK 27.92

Vår Energi

7D

-2.3%

1Y

-20.8%

SB1NO

NOK 171.40

SpareBank 1 Sør-Norge

7D

3.6%

1Y

23.3%

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CADLR

NOK 50.00

Cadeler

7D

-7.6%

1Y

-7.9%

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SALM

NOK 489.00

SalMar

7D

-4.6%

1Y

-26.8%