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Norwegian (OSEAX) Market Analysis & Valuation
UpdatedMay 17, 2025
DataAggregated Company Financials
Companies302
- 7D3.3%
- 3M1.8%
- 1Y1.9%
- YTD2.3%
The market is up 3.3% over the last week, with the Energy sector leading the way, up 3.6%. The market has been flat overall in the last year. Earnings are forecast to grow by 8.2% annually.
Market Valuation and Performance
Has the Norwegian Market valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Sat, 17 May 2025 | NOK 3.9t | NOK 3.3t | NOK 310.4b | 12.3x | 12.6x | 1.2x |
| Mon, 14 Apr 2025 | NOK 3.6t | NOK 3.3t | NOK 318.6b | 11.5x | 11.4x | 1.1x |
| Wed, 12 Mar 2025 | NOK 3.8t | NOK 3.2t | NOK 325.3b | 11.5x | 11.7x | 1.2x |
| Fri, 07 Feb 2025 | NOK 3.9t | NOK 3.4t | NOK 332.8b | 11.9x | 11.6x | 1.1x |
| Sun, 05 Jan 2025 | NOK 3.8t | NOK 3.5t | NOK 339.1b | 11.7x | 11.3x | 1.1x |
| Tue, 03 Dec 2024 | NOK 3.8t | NOK 3.4t | NOK 331.3b | 11.5x | 11.4x | 1.1x |
| Thu, 31 Oct 2024 | NOK 3.8t | NOK 3.4t | NOK 326.1b | 11.3x | 11.7x | 1.1x |
| Sat, 28 Sep 2024 | NOK 3.7t | NOK 3.3t | NOK 305.1b | 11.1x | 12.2x | 1.1x |
| Mon, 26 Aug 2024 | NOK 3.8t | NOK 3.3t | NOK 301.6b | 11.2x | 12.6x | 1.2x |
| Wed, 24 Jul 2024 | NOK 3.9t | NOK 3.3t | NOK 302.5b | 11.2x | 12.8x | 1.2x |
| Fri, 21 Jun 2024 | NOK 3.9t | NOK 3.3t | NOK 284.8b | 11.3x | 13.6x | 1.2x |
| Sun, 19 May 2024 | NOK 4.1t | NOK 3.3t | NOK 283.9b | 11.6x | 14.3x | 1.2x |
| Tue, 16 Apr 2024 | NOK 4.0t | NOK 3.4t | NOK 302.5b | 11.5x | 13.3x | 1.2x |
| Thu, 14 Mar 2024 | NOK 3.8t | NOK 3.3t | NOK 287.6b | 11.3x | 13.4x | 1.2x |
| Sat, 10 Feb 2024 | NOK 3.8t | NOK 3.3t | NOK 280.9b | 11.7x | 13.4x | 1.1x |
| Mon, 08 Jan 2024 | NOK 4.1t | NOK 3.5t | NOK 345.1b | 10.9x | 11.8x | 1.2x |
| Wed, 06 Dec 2023 | NOK 4.0t | NOK 3.6t | NOK 364.1b | 10.2x | 11x | 1.1x |
| Fri, 03 Nov 2023 | NOK 4.1t | NOK 3.6t | NOK 365.6b | 10.6x | 11.1x | 1.1x |
| Sun, 01 Oct 2023 | NOK 4.0t | NOK 3.8t | NOK 416.0b | 10.6x | 9.7x | 1.1x |
| Tue, 29 Aug 2023 | NOK 3.9t | NOK 3.8t | NOK 413.0b | 10.3x | 9.5x | 1x |
| Thu, 27 Jul 2023 | NOK 3.8t | NOK 3.7t | NOK 450.8b | 10.7x | 8.5x | 1x |
| Sat, 24 Jun 2023 | NOK 3.8t | NOK 3.9t | NOK 509.2b | 11.2x | 7.4x | 1x |
| Mon, 22 May 2023 | NOK 3.9t | NOK 3.9t | NOK 558.2b | 11.5x | 7x | 1x |
| Wed, 19 Apr 2023 | NOK 4.0t | NOK 3.8t | NOK 504.7b | 11.9x | 7.9x | 1.1x |
| Fri, 17 Mar 2023 | NOK 3.8t | NOK 3.8t | NOK 560.2b | 11.3x | 6.8x | 1x |
| Sun, 12 Feb 2023 | NOK 4.1t | NOK 3.7t | NOK 569.2b | 11.7x | 7.2x | 1.1x |
| Tue, 10 Jan 2023 | NOK 3.9t | NOK 3.6t | NOK 485.5b | 11.8x | 8.1x | 1.1x |
| Thu, 08 Dec 2022 | NOK 4.0t | NOK 3.6t | NOK 490.6b | 11.6x | 8.1x | 1.1x |
| Sat, 05 Nov 2022 | NOK 4.1t | NOK 3.6t | NOK 495.1b | 11.4x | 8.3x | 1.1x |
| Mon, 03 Oct 2022 | NOK 3.8t | NOK 3.5t | NOK 397.9b | 11.4x | 9.4x | 1.1x |
| Wed, 31 Aug 2022 | NOK 4.2t | NOK 3.2t | NOK 370.2b | 12.2x | 11.4x | 1.3x |
| Fri, 29 Jul 2022 | NOK 4.1t | NOK 3.0t | NOK 299.8b | 12.6x | 13.7x | 1.4x |
| Sun, 26 Jun 2022 | NOK 3.9t | NOK 2.9t | NOK 293.6b | 12.6x | 13.1x | 1.3x |
| Tue, 24 May 2022 | NOK 4.1t | NOK 2.9t | NOK 246.2b | 13.5x | 16.7x | 1.4x |
Price to Earnings Ratio
16.7x
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 Market | 3.31% | |
| Healthcare | 5.52% | |
| Tech | 5.07% | |
| Industrials | 3.99% | |
| Financials | 3.90% | |
| Energy | 3.62% | |
| Consumer Staples | 3.10% | |
| Materials | 2.44% | |
| Telecom | 0.76% | |
| Utilities | 0.70% | |
| Consumer Discretionary | 0.0013% | |
| 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 33.2% 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?
| Company | Last Price | 7D | 1Y | Valuation | Sector | |
|---|---|---|---|---|---|---|
| EQNR Equinor | NOK 244.90 | 2.8% +NOK 18.1b | -18.0% | PE7.3x | Energy | |
| DNB DNB Bank | NOK 273.90 | 4.0% +NOK 15.7b | 34.7% | PB1.4x | Financials | |
| KOG Kongsberg Gruppen | NOK 1.69k | 3.7% +NOK 10.6b | 95.4% | PE47.2x | Industrials | |
| AKRBP Aker BP | NOK 242.80 | 4.3% +NOK 6.3b | -8.2% | PE9.1x | Energy | |
| YAR Yara International | NOK 359.50 | 5.5% +NOK 4.8b | 11.3% | PE30.4x | Materials |
