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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 11, 2025
DataAggregated Company Financials
Companies303
  • 7D-0.3%
  • 3M-2.1%
  • 1Y-2.9%
  • YTD-1.0%

The Utilities sector gained 5.2% while the market remained flat over the last week. Similarly, the market is flat for the past 12 months. As for the next few years, earnings are expected to grow by 7.5% 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
Mon, 12 May 2025NOK 3.8tNOK 3.3tNOK 314.4b12x12x1.2x
Wed, 09 Apr 2025NOK 3.6tNOK 3.4tNOK 323.6b11.5x11.2x1.1x
Fri, 07 Mar 2025NOK 3.8tNOK 3.3tNOK 329.0b11.5x11.5x1.2x
Sun, 02 Feb 2025NOK 3.9tNOK 3.5tNOK 338.3b11.9x11.6x1.1x
Tue, 31 Dec 2024NOK 3.7tNOK 3.5tNOK 340.0b11.5x11x1.1x
Thu, 28 Nov 2024NOK 3.8tNOK 3.4tNOK 335.3b11.4x11.3x1.1x
Sat, 26 Oct 2024NOK 3.8tNOK 3.4tNOK 312.6b11.5x12.3x1.1x
Mon, 23 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.3x12.2x1.1x
Wed, 21 Aug 2024NOK 3.8tNOK 3.3tNOK 296.3b11x12.8x1.2x
Fri, 19 Jul 2024NOK 3.9tNOK 3.3tNOK 293.9b11.5x13.2x1.2x
Sun, 16 Jun 2024NOK 3.8tNOK 3.3tNOK 287.0b11.3x13.3x1.2x
Tue, 14 May 2024NOK 4.1tNOK 3.3tNOK 287.1b11.8x14.3x1.2x
Thu, 11 Apr 2024NOK 4.0tNOK 3.4tNOK 299.8b12.1x13.3x1.2x
Sat, 09 Mar 2024NOK 3.8tNOK 3.3tNOK 287.5b11.3x13.2x1.1x
Mon, 05 Feb 2024NOK 3.9tNOK 3.6tNOK 354.2b11.3x11.1x1.1x
Wed, 03 Jan 2024NOK 4.0tNOK 3.5tNOK 344.9b10.7x11.7x1.2x
Fri, 01 Dec 2023NOK 4.0tNOK 3.6tNOK 360.2b10.1x11.2x1.1x
Sun, 29 Oct 2023NOK 4.0tNOK 3.6tNOK 364.0b10.7x11x1.1x
Tue, 26 Sep 2023NOK 4.0tNOK 3.8tNOK 418.9b10.6x9.6x1.1x
Thu, 24 Aug 2023NOK 3.9tNOK 3.7tNOK 414.5b10.4x9.3x1x
Sat, 22 Jul 2023NOK 3.8tNOK 3.7tNOK 455.5b10.6x8.4x1x
Mon, 19 Jun 2023NOK 3.9tNOK 3.8tNOK 497.8b11.5x7.9x1x
Wed, 17 May 2023NOK 3.9tNOK 3.8tNOK 549.8b11.8x7x1x
Fri, 14 Apr 2023NOK 4.0tNOK 3.7tNOK 497.5b12.1x8x1.1x
Sun, 12 Mar 2023NOK 4.0tNOK 3.8tNOK 557.3b11.8x7.2x1.1x
Tue, 07 Feb 2023NOK 3.9tNOK 3.7tNOK 506.1b11.7x7.8x1.1x
Thu, 05 Jan 2023NOK 3.9tNOK 3.6tNOK 493.2b11.8x7.9x1.1x
Sat, 03 Dec 2022NOK 4.0tNOK 3.5tNOK 481.4b11.5x8.4x1.1x
Mon, 31 Oct 2022NOK 4.0tNOK 3.6tNOK 482.9b11.3x8.2x1.1x
Wed, 28 Sep 2022NOK 3.8tNOK 3.5tNOK 396.3b12x9.6x1.1x
Fri, 26 Aug 2022NOK 4.3tNOK 3.2tNOK 362.6b12.6x12x1.4x
Sun, 24 Jul 2022NOK 4.0tNOK 3.0tNOK 301.8b12.5x13.4x1.3x
Tue, 21 Jun 2022NOK 4.0tNOK 2.9tNOK 294.4b12.9x13.7x1.4x
Thu, 19 May 2022NOK 4.1tNOK 2.9tNOK 247.5b13.4x16.5x1.4x
Price to Earnings Ratio

16.5x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 247.5bTotal 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 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 8.6% 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-0.26%
Utilities5.21%
Healthcare3.11%
Tech2.46%
Materials1.88%
Real Estate1.36%
Energy1.12%
Financials0.96%
Consumer Discretionary0.61%
Telecom-0.22%
Industrials-3.57%
Consumer Staples-3.94%
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 413x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 34.1% 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 50% 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 37% 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 232.904.9%
+NOK 6.9b		-15.6%PE8.8xEnergy
SCHA SchibstedNOK 338.605.3%
+NOK 3.8b		1.5%PE30.9xTelecom
AUTO AutoStore HoldingsNOK 5.5115.4%
+NOK 2.5b		-65.1%PE15.8xIndustrials
NHY Norsk HydroNOK 57.082.2%
+NOK 2.4b		-14.3%PE11.6xMaterials
GJF Gjensidige ForsikringNOK 253.201.9%
+NOK 2.3b		35.5%PE23xFinancials
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NOK 57.08

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NOK 173.40

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ORK

NOK 111.40

Orkla

7D

-4.7%

1Y

34.9%

TOM

NOK 145.10

Tomra Systems

7D

-13.1%

1Y

2.6%

AKRBP

NOK 232.90

Aker BP

7D

4.9%

1Y

-15.6%

TEL

NOK 153.10

Telenor

7D

-2.3%

1Y

21.2%

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SCHA

NOK 338.60

Schibsted

7D

5.3%

1Y

1.5%

EQNR

NOK 238.20

Equinor

7D

-0.6%

1Y

-23.8%

MOWI

NOK 187.60

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-2.9%

1Y

-4.8%

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GJF

NOK 253.20

Gjensidige Forsikring

7D

1.9%

1Y

35.5%

AKER

NOK 614.00

Aker

7D

5.1%

1Y

-2.7%

CADLR

NOK 50.80

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1Y

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SALM

NOK 487.40

SalMar

7D

-6.5%

1Y

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