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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 18, 2025
DataAggregated Company Financials
Companies302
  • 7D3.3%
  • 3M1.9%
  • 1Y1.9%
  • YTD2.2%

The market is up 3.3% over the last week, with the Energy sector leading the way, up 3.6%. In the last 12 months, the market has been flat. Earnings are forecast to grow by 8.2% 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, 18 May 2025NOK 3.9tNOK 3.3tNOK 310.3b12.1x12.6x1.2x
Tue, 15 Apr 2025NOK 3.7tNOK 3.3tNOK 317.1b12x11.6x1.1x
Thu, 13 Mar 2025NOK 3.8tNOK 3.2tNOK 322.3b11.7x11.8x1.2x
Sat, 08 Feb 2025NOK 3.8tNOK 3.4tNOK 334.8b11.9x11.4x1.1x
Mon, 06 Jan 2025NOK 3.8tNOK 3.5tNOK 339.1b11.7x11.3x1.1x
Wed, 04 Dec 2024NOK 3.8tNOK 3.4tNOK 335.1b11.6x11.4x1.1x
Fri, 01 Nov 2024NOK 3.8tNOK 3.4tNOK 324.0b11.3x11.7x1.1x
Sun, 29 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.1x12.2x1.1x
Tue, 27 Aug 2024NOK 3.8tNOK 3.3tNOK 303.4b11.2x12.6x1.2x
Thu, 25 Jul 2024NOK 3.9tNOK 3.3tNOK 300.9b11.2x12.8x1.2x
Sat, 22 Jun 2024NOK 3.9tNOK 3.3tNOK 285.3b11.2x13.5x1.2x
Mon, 20 May 2024NOK 4.1tNOK 3.3tNOK 283.8b11.6x14.3x1.2x
Wed, 17 Apr 2024NOK 4.0tNOK 3.4tNOK 303.2b11.5x13.2x1.2x
Fri, 15 Mar 2024NOK 3.8tNOK 3.3tNOK 289.1b11.2x13.3x1.1x
Sun, 11 Feb 2024NOK 3.8tNOK 3.3tNOK 275.8b11.7x13.6x1.1x
Tue, 09 Jan 2024NOK 4.0tNOK 3.5tNOK 346.3b10.8x11.6x1.2x
Thu, 07 Dec 2023NOK 4.0tNOK 3.6tNOK 364.6b10.3x10.9x1.1x
Sat, 04 Nov 2023NOK 4.0tNOK 3.6tNOK 362.5b10.7x11.2x1.1x
Mon, 02 Oct 2023NOK 4.0tNOK 3.8tNOK 416.0b10.6x9.7x1.1x
Wed, 30 Aug 2023NOK 3.9tNOK 3.7tNOK 410.7b10.3x9.5x1x
Fri, 28 Jul 2023NOK 3.8tNOK 3.6tNOK 397.8b11.2x9.7x1.1x
Sun, 25 Jun 2023NOK 3.8tNOK 3.9tNOK 507.9b11.2x7.5x1x
Tue, 23 May 2023NOK 3.9tNOK 3.9tNOK 559.6b11.4x6.9x1x
Thu, 20 Apr 2023NOK 4.0tNOK 3.8tNOK 508.4b11.7x7.8x1x
Sat, 18 Mar 2023NOK 3.8tNOK 3.8tNOK 557.0b10.8x6.8x1x
Mon, 13 Feb 2023NOK 4.1tNOK 3.7tNOK 569.2b11.7x7.2x1.1x
Wed, 11 Jan 2023NOK 3.9tNOK 3.6tNOK 490.4b11.8x8x1.1x
Fri, 09 Dec 2022NOK 4.0tNOK 3.6tNOK 488.8b11.6x8.1x1.1x
Sun, 06 Nov 2022NOK 4.1tNOK 3.6tNOK 495.1b11.4x8.3x1.1x
Tue, 04 Oct 2022NOK 3.9tNOK 3.4tNOK 393.3b11.6x9.8x1.1x
Thu, 01 Sep 2022NOK 4.2tNOK 3.3tNOK 372.7b12.3x11.4x1.3x
Sat, 30 Jul 2022NOK 4.2tNOK 1.9tNOK 185.8b12.5x22.7x2.2x
Mon, 27 Jun 2022NOK 3.9tNOK 2.9tNOK 293.6b12.6x13.1x1.3x
Wed, 25 May 2022NOK 4.1tNOK 2.9tNOK 246.4b13.6x16.6x1.4x
Price to Earnings Ratio

16.6x


Total Market Cap: NOK 4.1tTotal Earnings: NOK 246.4bTotal 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 optimistic on the Norwegian market, and appear confident in strong long term growth rates.
  • The market is trading at a PE ratio of 12.6x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have grown 8.0% per year over the last three years.
  • Revenues for these companies have grown 4.4% 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 Market3.31%
Healthcare5.52%
Tech5.07%
Industrials3.99%
Financials3.90%
Energy3.62%
Consumer Staples3.10%
Materials2.44%
Telecom0.76%
Utilities0.70%
Consumer Discretionary0.0013%
Real Estate-0.29%
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 411x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 33.1% which is higher than its past year's earnings decline of 12.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 54% 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
EQNR EquinorNOK 244.902.8%
+NOK 18.1b		-18.0%PE7.3xEnergy
DNB DNB BankNOK 273.904.0%
+NOK 15.7b		34.7%PB1.4xFinancials
KOG Kongsberg GruppenNOK 1.69k3.7%
+NOK 10.6b		95.4%PE47.2xIndustrials
AKRBP Aker BPNOK 242.804.3%
+NOK 6.3b		-8.2%PE9.1xEnergy
YAR Yara InternationalNOK 359.505.5%
+NOK 4.8b		11.3%PE30.4xMaterials
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