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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedMay 19, 2025
DataAggregated Company Financials
Companies302
  • 7D2.6%
  • 3M2.0%
  • 1Y1.9%
  • YTD2.2%

The market is up 2.6% over the last week, with the Financials sector leading the way, up 4.1%. In the last 12 months, the market has been flat. As for the next few years, earnings are expected to grow by 8.2% 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, 19 May 2025NOK 3.9tNOK 3.3tNOK 310.4b12x12.6x1.2x
Wed, 16 Apr 2025NOK 3.7tNOK 3.3tNOK 318.5b11.8x11.7x1.1x
Fri, 14 Mar 2025NOK 3.8tNOK 3.2tNOK 322.9b11.6x11.9x1.2x
Sun, 09 Feb 2025NOK 3.8tNOK 3.4tNOK 312.3b12x12.3x1.1x
Tue, 07 Jan 2025NOK 3.8tNOK 3.5tNOK 337.6b12x11.3x1.1x
Thu, 05 Dec 2024NOK 3.8tNOK 3.4tNOK 334.8b11.2x11.4x1.1x
Sat, 02 Nov 2024NOK 3.8tNOK 3.4tNOK 328.2b11x11.4x1.1x
Mon, 30 Sep 2024NOK 3.7tNOK 3.3tNOK 305.1b11.1x12.2x1.1x
Wed, 28 Aug 2024NOK 3.8tNOK 3.3tNOK 303.6b11.2x12.6x1.2x
Fri, 26 Jul 2024NOK 3.8tNOK 3.4tNOK 301.4b11x12.7x1.1x
Sun, 23 Jun 2024NOK 3.8tNOK 3.3tNOK 285.3b11.2x13.5x1.2x
Tue, 21 May 2024NOK 4.1tNOK 3.3tNOK 283.7b11.6x14.3x1.2x
Thu, 18 Apr 2024NOK 4.0tNOK 3.4tNOK 303.6b11.4x13.1x1.2x
Sat, 16 Mar 2024NOK 3.9tNOK 3.4tNOK 290.3b11.1x13.3x1.1x
Mon, 12 Feb 2024NOK 3.8tNOK 3.3tNOK 275.8b11.7x13.6x1.1x
Wed, 10 Jan 2024NOK 4.0tNOK 3.5tNOK 346.1b10.7x11.6x1.2x
Fri, 08 Dec 2023NOK 4.0tNOK 3.6tNOK 360.1b10.2x11.1x1.1x
Sun, 05 Nov 2023NOK 4.0tNOK 3.6tNOK 366.7b10.6x11x1.1x
Tue, 03 Oct 2023NOK 4.0tNOK 3.8tNOK 419.9b10.6x9.6x1.1x
Thu, 31 Aug 2023NOK 3.9tNOK 3.7tNOK 408.2b10.3x9.6x1.1x
Sat, 29 Jul 2023NOK 3.8tNOK 3.6tNOK 401.7b11.1x9.6x1.1x
Mon, 26 Jun 2023NOK 3.8tNOK 3.9tNOK 507.9b11.2x7.5x1x
Wed, 24 May 2023NOK 3.9tNOK 3.9tNOK 560.8b11.5x7x1x
Fri, 21 Apr 2023NOK 4.0tNOK 3.8tNOK 547.7b11.7x7.2x1x
Sun, 19 Mar 2023NOK 3.7tNOK 3.8tNOK 554.0b11.7x6.7x1x
Tue, 14 Feb 2023NOK 4.1tNOK 3.7tNOK 572.6b11.6x7.1x1.1x
Thu, 12 Jan 2023NOK 3.9tNOK 3.6tNOK 490.9b11.7x7.9x1.1x
Sat, 10 Dec 2022NOK 4.0tNOK 3.6tNOK 488.3b11.6x8.2x1.1x
Mon, 07 Nov 2022NOK 4.1tNOK 3.6tNOK 494.0b11.5x8.3x1.1x
Wed, 05 Oct 2022NOK 3.9tNOK 3.4tNOK 387.8b12x10x1.1x
Fri, 02 Sep 2022NOK 4.2tNOK 3.3tNOK 376.8b12.7x11.1x1.3x
Sun, 31 Jul 2022NOK 4.2tNOK 3.2tNOK 343.0b12.5x12.3x1.3x
Tue, 28 Jun 2022NOK 3.9tNOK 2.9tNOK 291.5b12.6x13.5x1.3x
Thu, 26 May 2022NOK 4.2tNOK 2.9tNOK 247.7b13.4x16.8x1.4x
Price to Earnings Ratio

16.8x


Total Market Cap: NOK 4.2tTotal Earnings: NOK 247.7bTotal 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 7.8% 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 Market2.58%
Healthcare4.83%
Financials4.10%
Industrials4.05%
Tech3.73%
Consumer Staples3.45%
Telecom1.73%
Energy1.15%
Materials1.01%
Consumer Discretionary0.94%
Real Estate-0.31%
Utilities-0.71%
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 410x.
    • 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
KOG Kongsberg GruppenNOK 1.69k6.6%
+NOK 18.3b		95.4%PE47.2xIndustrials
DNB DNB BankNOK 273.904.0%
+NOK 15.7b		34.7%PB1.4xFinancials
GJF Gjensidige ForsikringNOK 260.405.3%
+NOK 6.5b		41.8%PE23.7xFinancials
TEL TelenorNOK 154.002.1%
+NOK 4.4b		20.3%PE22.7xTelecom
AKRBP Aker BPNOK 242.802.7%
+NOK 4.0b		-8.2%PE9.1xEnergy
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