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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedAug 13, 2025
DataAggregated Company Financials
Companies296
  • 7D-0.2%
  • 3M5.0%
  • 1Y5.8%
  • YTD5.3%

Over the last 7 days, the market has remained flat, although notably the Consumer Staples sector gained 3.5% in that time. Meanwhile, the market is actually up 5.8% over the past year. Earnings are forecast to grow by 11% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 13 Aug 2025NOK 4.0tNOK 3.3tNOK 306.0b13.1x13.2x1.2x
Fri, 11 Jul 2025NOK 4.0tNOK 3.2tNOK 302.3b12.6x13.3x1.2x
Sun, 08 Jun 2025NOK 3.9tNOK 3.2tNOK 302.4b12.2x13.1x1.2x
Tue, 06 May 2025NOK 3.8tNOK 3.3tNOK 324.6b12.2x11.7x1.1x
Thu, 03 Apr 2025NOK 3.9tNOK 3.3tNOK 317.6b12.1x12.2x1.2x
Sat, 01 Mar 2025NOK 3.8tNOK 3.3tNOK 334.9b11.8x11.5x1.1x
Mon, 27 Jan 2025NOK 3.8tNOK 3.4tNOK 335.7b12.1x11.5x1.1x
Wed, 25 Dec 2024NOK 3.7tNOK 3.5tNOK 340.7b11.2x10.8x1.1x
Fri, 22 Nov 2024NOK 3.8tNOK 3.4tNOK 329.8b10.6x11.5x1.1x
Sun, 20 Oct 2024NOK 3.7tNOK 3.3tNOK 314.9b10.8x11.9x1.1x
Tue, 17 Sep 2024NOK 3.7tNOK 3.3tNOK 305.5b11.2x12.2x1.1x
Thu, 15 Aug 2024NOK 3.9tNOK 3.3tNOK 295.4b11.1x13x1.2x
Sat, 13 Jul 2024NOK 3.9tNOK 3.3tNOK 290.7b11.1x13.3x1.2x
Mon, 10 Jun 2024NOK 3.9tNOK 3.3tNOK 287.6b11.4x13.6x1.2x
Wed, 08 May 2024NOK 4.0tNOK 3.3tNOK 288.1b11.6x14x1.2x
Fri, 05 Apr 2024NOK 4.0tNOK 3.3tNOK 297.9b12.1x13.4x1.2x
Sun, 03 Mar 2024NOK 3.8tNOK 3.3tNOK 289.8b11.5x13.1x1.1x
Tue, 30 Jan 2024NOK 4.0tNOK 3.5tNOK 346.2b11.2x11.4x1.1x
Thu, 28 Dec 2023NOK 4.0tNOK 3.4tNOK 340.5b10.7x11.9x1.2x
Sat, 25 Nov 2023NOK 4.1tNOK 3.6tNOK 356.7b10.2x11.4x1.1x
Mon, 23 Oct 2023NOK 4.0tNOK 3.8tNOK 425.7b10.8x9.5x1.1x
Wed, 20 Sep 2023NOK 4.1tNOK 3.8tNOK 417.6b10.7x9.8x1.1x
Fri, 18 Aug 2023NOK 3.9tNOK 3.7tNOK 422.8b10.8x9.3x1.1x
Sun, 16 Jul 2023NOK 3.8tNOK 3.8tNOK 479.5b10.7x7.9x1x
Tue, 13 Jun 2023NOK 3.9tNOK 3.9tNOK 511.5b11.5x7.6x1x
Thu, 11 May 2023NOK 3.9tNOK 3.7tNOK 542.6b11.5x7.2x1x
Sat, 08 Apr 2023NOK 3.9tNOK 3.8tNOK 504.6b11.5x7.7x1x
Mon, 06 Mar 2023NOK 4.1tNOK 3.7tNOK 548.7b11.9x7.5x1.1x
Wed, 01 Feb 2023NOK 3.9tNOK 3.6tNOK 490.6b11.8x8x1.1x
Fri, 30 Dec 2022NOK 4.0tNOK 3.6tNOK 486.0b11.3x8.2x1.1x
Sun, 27 Nov 2022NOK 4.1tNOK 3.6tNOK 483.4b10.8x8.4x1.1x
Tue, 25 Oct 2022NOK 3.9tNOK 3.4tNOK 395.2b11.6x9.7x1.1x
Thu, 22 Sep 2022NOK 3.9tNOK 3.4tNOK 383.5b12.7x10.3x1.2x
Sat, 20 Aug 2022NOK 4.3tNOK 3.2tNOK 364.1b12.6x11.7x1.3x
Price to Earnings Ratio

11.7x


Total Market Cap: NOK 4.3tTotal Earnings: NOK 364.1bTotal Revenue: NOK 3.2tTotal 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 13.2x which is higher than its 3-year average PE of 10.9x.
Past Earnings Growth
  • The earnings for Norwegian listed companies have declined 5.6% per year over the last three years.
  • Meanwhile revenues have been flat.
  • This means that either the cost of doing business or the level of investment back into businesses is increasing since sales have remained steady while profits have fallen.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market-0.16%
Consumer Staples3.46%
Materials1.09%
Financials0.60%
Real Estate0.33%
Utilities-0.67%
Telecom-0.68%
Tech-0.79%
Consumer Discretionary-0.91%
Industrials-1.00%
Energy-1.30%
Healthcare-1.40%
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 354x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 37.3%, which is higher than its past year's earnings growth of 0.4% per year.
Forecasted Growth
  • Analysts are most optimistic on the Healthcare sector, expecting annual earnings growth of 60% over the next 5 years.
  • This is better than its past earnings growth rate of 20% per year.
  • In contrast, the Utilities sector is expected to see its earnings decline by 10% 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
DNB DNB BankNOK 267.601.7%
+NOK 6.3b		21.2%PB1.4xFinancials
NHY Norsk HydroNOK 65.825.0%
+NOK 6.2b		14.7%PE13.6xMaterials
NOD Nordic SemiconductorNOK 159.1023.0%
+NOK 5.7b		15.3%PS5xTech
MOWI MowiNOK 201.803.6%
+NOK 3.6b		5.8%PE26.8xConsumer Staples
SALM SalMarNOK 453.204.2%
+NOK 2.4b		-29.3%PE33.8xConsumer Staples
See more

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