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Norwegian (OSEAX) Market Analysis & Valuation

UpdatedNov 20, 2025
DataAggregated Company Financials
Companies288
  • 7D-1.9%
  • 3M-5.2%
  • 1Y1.5%
  • YTD2.2%

Over the last 7 days, the market has dropped 1.9%, driven by a pullback of 3.2% in the Energy sector. In the last 12 months the market has been flat overall. Looking forward, earnings are forecast to grow by 16% annually.

Trending IndustriesOil and GasBiotechSoftwareRenewable Energy

Market Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 22 Nov 2025NOK 4.0tNOK 3.3tNOK 270.4b13.3x14.7x1.2x
Mon, 20 Oct 2025NOK 4.1tNOK 3.3tNOK 295.6b12.2x13.8x1.3x
Wed, 17 Sep 2025NOK 4.2tNOK 3.2tNOK 291.1b12.7x14.3x1.3x
Fri, 15 Aug 2025NOK 4.0tNOK 3.3tNOK 306.4b13.2x13.2x1.2x
Sun, 13 Jul 2025NOK 4.0tNOK 3.3tNOK 303.3b12.7x13.2x1.2x
Tue, 10 Jun 2025NOK 3.9tNOK 3.2tNOK 302.5b12.2x13.1x1.2x
Thu, 08 May 2025NOK 3.8tNOK 3.3tNOK 310.1b12.2x12.2x1.1x
Sat, 05 Apr 2025NOK 3.6tNOK 3.3tNOK 320.8b11.2x11.2x1.1x
Mon, 03 Mar 2025NOK 3.8tNOK 3.4tNOK 335.8b11.5x11.4x1.1x
Wed, 29 Jan 2025NOK 3.9tNOK 3.5tNOK 337.7b12.1x11.4x1.1x
Fri, 27 Dec 2024NOK 3.7tNOK 3.5tNOK 340.3b11.2x10.8x1.1x
Sun, 24 Nov 2024NOK 3.8tNOK 3.4tNOK 330.1b11x11.5x1.1x
Tue, 22 Oct 2024NOK 3.8tNOK 3.3tNOK 315.4b11.5x11.9x1.1x
Thu, 19 Sep 2024NOK 3.7tNOK 3.3tNOK 307.2b11.3x12x1.1x
Sat, 17 Aug 2024NOK 3.8tNOK 3.3tNOK 298.9b11.2x12.8x1.2x
Mon, 15 Jul 2024NOK 3.9tNOK 3.3tNOK 290.9b11.1x13.3x1.2x
Wed, 12 Jun 2024NOK 3.9tNOK 3.3tNOK 287.2b11.4x13.4x1.2x
Fri, 10 May 2024NOK 4.0tNOK 3.3tNOK 288.0b11.4x14x1.2x
Sun, 07 Apr 2024NOK 4.0tNOK 3.3tNOK 297.7b12.2x13.4x1.2x
Tue, 05 Mar 2024NOK 3.8tNOK 3.3tNOK 291.4b11.2x13x1.1x
Thu, 01 Feb 2024NOK 3.9tNOK 3.5tNOK 349.1b11.3x11.3x1.1x
Sat, 30 Dec 2023NOK 4.0tNOK 3.4tNOK 340.1b11x11.9x1.2x
Mon, 27 Nov 2023NOK 4.1tNOK 3.6tNOK 357.7b10.2x11.4x1.1x
Wed, 25 Oct 2023NOK 4.0tNOK 3.8tNOK 427.4b10.9x9.3x1x
Fri, 22 Sep 2023NOK 4.1tNOK 3.8tNOK 418.0b10.6x9.7x1.1x
Sun, 20 Aug 2023NOK 3.9tNOK 3.7tNOK 423.2b10.4x9.2x1x
Tue, 18 Jul 2023NOK 3.7tNOK 3.8tNOK 473.6b10.6x7.9x1x
Thu, 15 Jun 2023NOK 3.9tNOK 3.8tNOK 502.0b11.5x7.8x1x
Sat, 13 May 2023NOK 3.9tNOK 3.8tNOK 548.7b11.8x7.1x1x
Mon, 10 Apr 2023NOK 3.9tNOK 3.8tNOK 504.8b11.5x7.7x1x
Wed, 08 Mar 2023NOK 4.1tNOK 3.8tNOK 559.0b11.9x7.3x1.1x
Fri, 03 Feb 2023NOK 3.9tNOK 3.6tNOK 491.4b11.6x8x1.1x
Sun, 01 Jan 2023NOK 4.0tNOK 3.6tNOK 483.0b11.5x8.3x1.1x
Tue, 29 Nov 2022NOK 4.0tNOK 3.6tNOK 487.0b10.7x8.3x1.1x
Price to Earnings Ratio

8.3x


Total Market Cap: NOK 4.0tTotal Earnings: NOK 487.0bTotal Revenue: NOK 3.6tTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Market Price to Earnings3Y Average 11.2x202320242025
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 14.7x which is higher than its 3-year average PE of 11.2x.
Past Earnings Growth
  • The earnings for companies in the Norwegian industry have declined 18% per year over the last three years.
  • Revenues have also declined 2.7% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Sector Trends

Which sectors have driven the changes within the Norwegian Market?

NO Market-1.87%
Real Estate1.07%
Financials0.24%
Consumer Discretionary0.021%
Consumer Staples-1.26%
Healthcare-1.82%
Telecom-1.93%
Utilities-2.14%
Materials-2.21%
Industrials-2.49%
Tech-2.62%
Energy-3.21%
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 294x.
    • The market's confidence is likely because analysts are expecting annual earnings growth of 38.2% which is higher than its past year's earnings decline of 0.2% 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 growth rate of 34% per year.
  • In contrast, the Real Estate industry is expected to see its earnings growth to stay flat over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuationSector
EISP EiendomssparNOK 585.008.3%
+NOK 1.5b		46.3%PE27.1xReal Estate
PROT Protector ForsikringNOK 471.003.6%
+NOK 1.4b		67.0%PE17.9xFinancials
DNB DNB BankNOK 264.600.3%
+NOK 1.3b		14.8%PB1.4xFinancials
WAWI Wallenius WilhelmsenNOK 88.503.4%
+NOK 1.2b		-21.8%PE3.2xIndustrials
ODL Odfjell DrillingNOK 82.506.6%
+NOK 1.2b		63.0%PE13.5xEnergy
See more

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