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Oct 29
Norwegian (OSEAX) Market Analysis & Valuation
UpdatedOct 30, 2023
DataAggregated Company Financials
Companies369
- 7D0.8%
- 3M2.8%
- 1Y0.06%
- YTD0.5%
Over the last 7 days, the market has remained flat, although notably the Materials sector gained 4.6% in that time. As for the longer term, the market has also been flat over the past year. Looking forward, earnings are forecast to grow by 9.3% 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 |
|---|---|---|---|---|---|---|
| Tue, 31 Oct 2023 | kr4.0t | kr3.6t | kr363.0b | 10.8x | 11x | 1.1x |
| Thu, 28 Sep 2023 | kr4.1t | kr3.8t | kr417.6b | 10.6x | 9.7x | 1.1x |
| Sat, 26 Aug 2023 | kr3.9t | kr3.8t | kr417.1b | 10.3x | 9.3x | 1x |
| Mon, 24 Jul 2023 | kr3.8t | kr3.7t | kr454.9b | 10.7x | 8.4x | 1x |
| Wed, 21 Jun 2023 | kr3.9t | kr3.8t | kr503.8b | 11.5x | 7.7x | 1x |
| Fri, 19 May 2023 | kr3.9t | kr3.8t | kr558.6b | 11.7x | 6.9x | 1x |
| Sun, 16 Apr 2023 | kr4.0t | kr3.7t | kr499.5b | 11.9x | 8x | 1.1x |
| Tue, 14 Mar 2023 | kr3.9t | kr3.8t | kr554.5b | 11.6x | 7x | 1x |
| Thu, 09 Feb 2023 | kr4.1t | kr3.7t | kr504.7b | 11.8x | 8.1x | 1.1x |
| Sat, 07 Jan 2023 | kr3.9t | kr3.6t | kr491.6b | 11.7x | 8x | 1.1x |
| Mon, 05 Dec 2022 | kr4.0t | kr3.5t | kr481.4b | 11.5x | 8.4x | 1.1x |
| Wed, 02 Nov 2022 | kr4.1t | kr3.6t | kr482.8b | 11.5x | 8.4x | 1.1x |
| Fri, 30 Sep 2022 | kr3.7t | kr3.4t | kr394.7b | 11.2x | 9.3x | 1.1x |
| Sun, 28 Aug 2022 | kr4.3t | kr3.2t | kr366.4b | 12.4x | 11.8x | 1.3x |
| Tue, 26 Jul 2022 | kr4.0t | kr3.0t | kr300.6b | 12.5x | 13.5x | 1.3x |
| Thu, 23 Jun 2022 | kr3.9t | kr3.0t | kr294.1b | 12.6x | 13.2x | 1.3x |
| Sat, 21 May 2022 | kr4.1t | kr2.9t | kr249.0b | 13.6x | 16.4x | 1.4x |
| Mon, 18 Apr 2022 | kr4.3t | kr2.5t | kr195.9b | 14.8x | 22x | 1.7x |
| Wed, 16 Mar 2022 | kr3.9t | kr2.5t | kr203.9b | 13.7x | 19.4x | 1.6x |
| Fri, 11 Feb 2022 | kr4.0t | kr2.4t | kr201.8b | 15.2x | 19.9x | 1.7x |
| Sun, 09 Jan 2022 | kr4.0t | kr2.2t | kr152.0b | 15.4x | 26.5x | 1.8x |
| Tue, 07 Dec 2021 | kr3.5t | kr2.2t | kr129.8b | 14.2x | 27.1x | 1.6x |
| Thu, 04 Nov 2021 | kr4.0t | kr2.1t | kr145.1b | 13.9x | 27.4x | 1.9x |
| Sat, 02 Oct 2021 | kr3.7t | kr2.0t | kr118.2b | 13.3x | 31.7x | 1.9x |
| Mon, 30 Aug 2021 | kr3.6t | kr2.0t | kr116.0b | 13x | 31.4x | 1.8x |
| Tue, 06 Jul 2021 | kr3.2t | kr1.9t | kr95.3b | 12.1x | 33.9x | 1.7x |
| Fri, 09 Apr 2021 | kr3.0t | kr1.8t | kr46.6b | 13.3x | 64.3x | 1.7x |
| Thu, 31 Dec 2020 | kr2.7t | kr1.7t | kr607.1m | 14x | 4483.6x | 1.6x |
Price to Earnings Ratio
-151.5x
Current Market PE
- Investors are pessimistic on the Norwegian market, indicating that they anticipate earnings will not grow as fast as they have historically.
- The market is trading at a PE ratio of 11.0x which is lower than its 3-year average PE of 740x.
Past Earnings Growth
- Total earnings for Norwegian listed companies have gone up over the last three years, and the market is now profitable.
- Revenues have grown 27% per year, driving the profits up.
Sector Trends
Which sectors have driven the changes within the Norwegian Market?
| NO Market | 0.80% | |
| Materials | 4.57% | |
| Utilities | 1.54% | |
| Energy | 1.28% | |
| Telecom | 1.02% | |
| Consumer Discretionary | 0.93% | |
| Consumer Staples | 0.80% | |
| Industrials | -0.42% | |
| Financials | -0.60% | |
| Real Estate | -0.83% | |
| Tech | -1.70% | |
| Healthcare | -3.86% | |
Sector PE
- Investors favour the Telecom sector the most for future growth, which is trading above its 3-year average PE ratio of 4.4x.
- The market's confidence is likely because analysts are expecting annual earnings growth of 22.8% which is higher than its past year's earnings decline of 46.4% per year.
Forecasted Growth
- Analysts are most optimistic on the Real Estate sector, expecting annual earnings growth of 72% over the next 5 years.
- This is better than its past earnings decline of 59% per year.
- In contrast, the Utilities sector is expected to see its earnings decline by 23% 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 | |
|---|---|---|---|---|---|---|
| NHY Norsk Hydro | kr62.32 | 9.8% +kr11.3b | -5.5% | PE19.8x | Materials | |
| WAWI Wallenius Wilhelmsen | kr93.40 | 12.7% +kr4.4b | 26.3% | PE4.1x | Industrials | |
| VAR Vår Energi | kr37.28 | 4.5% +kr4.0b | 5.2% | PE8.6x | Energy | |
| EQNR Equinor | kr373.55 | 0.3% +kr3.6b | -1.8% | PE5.8x | Energy | |
| STB Storebrand | kr91.00 | 9.6% +kr3.6b | 12.6% | PE14.1x | Financials |
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