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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%

Over the last 7 days, the market has remained flat, although notably the Utilities sector gained 5.2% in that time. Similarly, the market is flat for the past 12 months. Looking forward, earnings are forecast to grow by 7.4% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

Has the Norwegian Market valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 11 May 2025NOK 3.8tNOK 3.3tNOK 314.4b12x12x1.2x
Tue, 08 Apr 2025NOK 3.6tNOK 3.4tNOK 324.2b11.2x11x1.1x
Thu, 06 Mar 2025NOK 3.8tNOK 3.3tNOK 330.5b11.3x11.4x1.1x
Sat, 01 Feb 2025NOK 3.9tNOK 3.5tNOK 337.4b12x11.6x1.1x
Mon, 30 Dec 2024NOK 3.7tNOK 3.5tNOK 340.8b11.3x10.9x1.1x
Wed, 27 Nov 2024NOK 3.8tNOK 3.4tNOK 337.2b11x11.2x1.1x
Fri, 25 Oct 2024NOK 3.8tNOK 3.4tNOK 317.1b11.1x12x1.1x
Sun, 22 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.3x12.2x1.1x
Tue, 20 Aug 2024NOK 3.9tNOK 3.3tNOK 297.2b11.2x13x1.2x
Thu, 18 Jul 2024NOK 3.8tNOK 3.3tNOK 291.6b11.4x13.2x1.2x
Sat, 15 Jun 2024NOK 3.8tNOK 3.3tNOK 286.9b11.3x13.3x1.2x
Mon, 13 May 2024NOK 4.1tNOK 3.3tNOK 287.2b11.7x14.3x1.2x
Wed, 10 Apr 2024NOK 4.0tNOK 3.3tNOK 297.1b12.1x13.4x1.2x
Fri, 08 Mar 2024NOK 3.8tNOK 3.3tNOK 286.9b11.2x13.2x1.1x
Sun, 04 Feb 2024NOK 3.9tNOK 3.6tNOK 354.2b11.3x11.1x1.1x
Tue, 02 Jan 2024NOK 4.0tNOK 3.5tNOK 341.0b10.9x11.9x1.2x
Thu, 30 Nov 2023NOK 4.0tNOK 3.5tNOK 358.0b10.1x11.2x1.1x
Sat, 28 Oct 2023NOK 4.0tNOK 3.6tNOK 363.4b10.7x11x1.1x
Mon, 25 Sep 2023NOK 4.1tNOK 3.8tNOK 417.8b10.5x9.7x1.1x
Wed, 23 Aug 2023NOK 3.9tNOK 3.7tNOK 423.6b10.4x9.2x1x
Fri, 21 Jul 2023NOK 3.8tNOK 3.7tNOK 455.1b10.6x8.4x1x
Sun, 18 Jun 2023NOK 3.9tNOK 3.8tNOK 498.2b11.5x7.9x1x
Tue, 16 May 2023NOK 3.9tNOK 3.8tNOK 546.1b11.9x7.1x1x
Thu, 13 Apr 2023NOK 4.0tNOK 3.8tNOK 503.0b12x7.9x1.1x
Sat, 11 Mar 2023NOK 4.0tNOK 3.8tNOK 556.3b12x7.2x1.1x
Mon, 06 Feb 2023NOK 4.0tNOK 3.6tNOK 502.9b11.5x7.9x1.1x
Wed, 04 Jan 2023NOK 3.9tNOK 3.6tNOK 493.0b11.7x8x1.1x
Fri, 02 Dec 2022NOK 4.1tNOK 3.5tNOK 479.1b11.5x8.6x1.2x
Sun, 30 Oct 2022NOK 4.0tNOK 3.6tNOK 481.6b11.6x8.3x1.1x
Tue, 27 Sep 2022NOK 3.8tNOK 3.4tNOK 395.2b12x9.6x1.1x
Thu, 25 Aug 2022NOK 4.3tNOK 3.2tNOK 362.6b12.4x12x1.4x
Sat, 23 Jul 2022NOK 4.0tNOK 3.0tNOK 293.0b12.5x13.6x1.3x
Mon, 20 Jun 2022NOK 4.0tNOK 3.0tNOK 297.4b12.9x13.4x1.3x
Wed, 18 May 2022NOK 4.0tNOK 2.9tNOK 245.4b13.2x16.4x1.4x
Price to Earnings Ratio

16.4x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 245.4bTotal 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 8.2% per year over the last three years.
  • Revenues for these companies have grown 3.9% 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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AUTO

NOK 5.51

AutoStore Holdings

7D

15.4%

1Y

-65.1%

HAFNI

NOK 52.10

Hafnia

7D

7.3%

1Y

-41.0%

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KOG

NOK 1,627.00

Kongsberg Gruppen

7D

-4.5%

1Y

95.7%

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SB1NO

NOK 173.40

SpareBank 1 Sør-Norge

7D

2.8%

1Y

23.9%

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ORK

NOK 111.40

Orkla

7D

-4.7%

1Y

34.9%

NHY

NOK 57.08

Norsk Hydro

7D

2.2%

1Y

-14.3%

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

Mowi

7D

-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

Cadeler

7D

-10.1%

1Y

-4.3%

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SALM

NOK 487.40

SalMar

7D

-6.5%

1Y

-28.1%