Largest Public Companies in Norway

Benchmark revenue and EBITDA valuation multiples for public comps like Equinor, DNB Bank, Kongsberg, Aker BP and Telenor.

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Norway
Equinor is a Norway-based integrated oil and gas company. It has been publicly listed since 2001, but the government retains a 67% stake. Operating primarily on the Norwegian Continental Shelf, the firm produced 2.1 million barrels of oil equivalent per day in 2025 (50% liquids) and ended 2025 with 5.2 billion barrels of proven reserves (45% liquids). Operations also include oil refineries and natural gas processing, marketing, and trading. The renewables portfolio includes offshore and onshore wind and solar, with total power generation of 5.65 TWh in 2025.
$44
+81%
$103B
$113B
1.1x
3.0x
Norway
DNB Bank ASA is a Norwegian financial services group offering financial products and services, including loans and deposits, mutual funds and asset management, life insurance and pension savings, payment and financing services, real estate broking, and services related to the money and capital markets. DNB has the following operating segments: Personal customers, Corporate customers Norway, Large corporates and international customers, and Others. Maximum revenue is generated from its Large corporates and international customers business, which caters to corporate customers across different industries, providing them with various banking and advisory services as well as access to online and mobile banking, and other digital services. DNB derives maximum revenue from its Banking activities.
$32
+23%
$45B
$45B
4.8x
-
Norway
Kongsberg Gruppen is an international technology company that supplies products and services to the defense, maritime, oil, gas, and aerospace industries. The company is divided into two business segments: the maritime segment and defense and aerospace systems. Maritime, which earns most of the firm's revenue, creates navigation, automation, monitoring, and positioning products for commercial ships and offshore industry. The defense and aerospace segment provides defense and space-related products and systems. Outside of the two main segments, the firm operates Kongsberg Digital, which produces digital solutions for oil, gas, wind, and merchant marine markets. Products are delivered globally, with North America accounting for about one third of total revenue.
$31
+20%
$27B
$27B
8.2x
36.8x
Norway
Aker BP ASA operates oil and gas production, development, and exploration projects on the Norwegian Continental Shelf (NCS). Its projects include Alvheim field, Ivar Aasen, Skarv, Johan Sverdrup, Ula and Valhall. The company generates revenue from the sale of liquids, sale of gas, and Tariff income, out of which the majority revenue is derived from sale of liquids.
$37
+42%
$23B
$31B
2.9x
4.3x
Norway
Telenor is an international provider of telecommunications services. It is the incumbent dominant telecom operator in Norway, and the Norwegian government holds a stake of more than 50% in the firm. Telenor also operates in other Nordic countries like Sweden, Denmark, and Finland, and owns several businesses in Asia. Most of Telenor's operations are mobile businesses, although it also has some fixed-line operations in Nordic European countries.
$13
-13%
$18B
$23B
2.9x
6.2x
Norway
Norsk Hydro ASA is an aluminium and renewable energy company. The company owns and operates businesses and holds investments in sustainable industries. Its operations span multiple market segments, including aluminum, energy, metal recycling, renewable energy, and batteries, providing expertise across these areas. The company's reportable segments are Hydro Bauxite & Alumina, Hydro Energy, Hydro Aluminium Metal and Hydro Extrusions and Hydro Metal Markets activities. The majority of the company's revenue is derived from the Hydro Extrusions segment, which delivers products within extruded profiles, building systems and precision tubing, and operates several recycling facilities, both integrated with its extrusion plants and separate plants.
$8
+21%
$16B
$19B
0.9x
6.9x
Norway
Var Energi ASA is an independent upstream oil and gas company on the Norwegian continental shelf. It operates within the geographical area of Norway and the business is entirely related to the exploration for and production of petroleum in Norway. The Company operates within a single operating segment, and the products include oil and gas, natural gas liquids (NGL). Revenues are mainly related to the sale of oil, gas, and NGL. Var Energi is the operator of the following producing fields: Goliat (Barents Sea), Fenja (Norwegian Sea), Gjoa, Duva, Balder, and Ringhorne (North Sea).
$6
+64%
$14B
$19B
2.4x
2.7x
Norway
Gjensidige Forsikring ASA develops and offers insurance covering customers' security needs and related services, including loss prevention and claims processing. It provides general insurance (property and liability) and accident and health insurance, operating in Norway, Denmark, and Sweden. It has four segments: General Insurance Private, serving individuals in Norway and Denmark; General Insurance Commercial, serving commercial, agricultural, and public sector customers in Norway and Denmark, and earning the majority of revenue; General Insurance Sweden, serving private and commercial markets; and Pension, offering occupational and individual pension products in Norway to enhance customer loyalty. It operates in Norway, Denmark, and Sweden, with maximum revenue coming from Norway.
$27
-2%
$13B
$13B
2.8x
13.8x
Norway
Mowi ASA is a Norway-based producer of farmed salmon, distributing salmon and other processed seafood globally. The company focuses on producing high-quality fish by producing its fish eggs and nurturing the fish in the early stages of their life. It operates in three business segments: Feed, Farming, and Sales & Marketing. Fish feed production comprises its two feed plants in Norway and Scotland. Farming includes a single operating segment composed of farming operations in Norway, Scotland, Canada, Chile, Ireland, the Faroe Islands, and Iceland, and Sales and Marketing is composed of two operating segments: Markets and Consumer Products. A majority of the company's revenue is generated from the Sales and Marketing business. Geographically, it derives maximum revenue from Europe.
$21
-4%
$11B
$15B
2.4x
9.8x
Norway
Yara International is an Oslo-headquartered global crop-nutrition and industrial-chemicals company. It manufactures and markets nitrogen fertilizers, ammonia, crop-nutrition products and selected industrial solutions through a worldwide production and distribution network. Its customers include farmers, agricultural retailers, industrial companies and distributors in global fertilizer markets. Revenue comes principally from sales of fertilizer, ammonia and related chemical products. The company traces its roots to Norsk Hydro’s 1905 fertilizer business and was separately listed as Yara in 2004. Yara acquired Saskferco in 2008 from Mosaic, Investment Saskatchewan and Citibank and now operates the Belle Plaine facility.
$43
+18%
$11B
$14B
0.9x
4.7x
Norway
Subsea 7 SA is the engineering and construction, service provider in the offshore oil and gas industry. It provides a range of services, including subsea umbilicals, risers, and flowlines (SURF), fabrication, installation, maintenance, and heavy lifting, among many others. Its segments are Subsea and Conventional, Renewables, and Corporate. The group generates the majority of its revenue from the Subsea and Conventional segment includes Subsea Umbilicals, Risers and Flowlines, Conventional services, Activities associated with the provision of inspection, repair and maintenance (IRM) services, heavy lifting operations and decommissioning of redundant offshore structures, carbon capture, and utilisation and storage. Its geographic areas are Norway, Brazil, the United Kingdom, and Others.
$35
+93%
$11B
$10B
1.5x
7.6x
Norway
Aker ASA is an industrial investment company that develops businesses and exercises active ownership to create value for its shareholders and society at large. The portfolio has focused on companies in oil and gas, maritime assets, seafood/marine biotechnology, and real estate sectors. The company's investment portfolio comprises two segments: Industrial holdings and Financial investments. The primary focus for businesses within Industrial holdings is long-term value creation. Businesses within Financial investments are managed as a portfolio with a focus on financial and strategic opportunities. The company generates the majority of its revenue from Industrial holdings. Geographically, the company generates the majority of its revenue from Norway.
$142
+82%
$10B
$15B
11.4x
24.2x
Norway
Orkla ASA is a branded consumer goods company, originally from Norway. Its segments include Orkla Foods, Orkla Food Ingredients, Orkla Snacks, Orkla Health, Orkla India, Orkla Home & Personal Care, The European Pizza, Orkla House Care, Health and Sports Nutrition Group, Pierre Robert Group, and Lilleborg. It generates the majority of its revenue from Norway.
$10
-5%
$9.3B
$12B
1.6x
9.0x
Norway
SpareBank 1 Sor Norge ASA is a regional bank engaged in selling and procuring a wide range of financial products and services, including investment services, leasing, estate agency, and accounting services. The company's reportable segments are Retail market, which generates maximum revenue, Corporate market, SME and agriculture, and Other.
$23
+32%
$8.5B
$8.5B
6.2x
-
Norway
Storebrand ASA is a Nordic long-term savings and insurance company. The business is divided into four segments Savings, Insurance, Guaranteed Pension, and Others. The Savings segment includes products for retirement savings with no interest rate guarantees which defined contribution pensions in Norway and Sweden, asset management, and retail banking products. The Insurance segment provides risk products in Norway and Sweden, it provides health, property and casualty, personal risk products, and others. The Guaranteed Pension business area encompasses long-term pension savings products that give customers a guaranteed rate of return. Other segment consists of other companies within the Storebrand Group, including smaller subsidiaries of Storebrand Livsforsikring and SPP.
$20
+26%
$8.2B
$17B
2.1x
14.7x
Norway
Wallenius Wilhelmsen ASA is an integrated vehicle transportation and logistics company, supporting customers across their supply chain, all the way from the factory to the end-consumer. The company has three reportable operating segments, namely Shipping services, Logistics services and Government services. It generates maximum revenue from the Shipping services segment. The shipping services segment is engaged in the ocean transport of cars and RoRo cargo. Its main customers are car manufacturers as well as manufacturers of construction and other high and heavy equipment. Geographically, it derives a majority of its revenue from the Americas.
$18
+130%
$8B
$10B
Norway
SalMar ASA produces and sells farmed salmon internationally. It operates hatcheries and controls the farming at all stages until the fish are ready to be harvested, processed, and packaged into various products. Products are developed with new mixes and packing methods to make them more convenient for customers. The salmon are sold through an in-house salesforce and close partners of the company. Proximity to customers and tracking the use of resources play a factor in delivering the raw material.
$58
+2%
$7.8B
$10B
Norway
Kongsberg Maritime ASA provides maritime technology solutions focused on safety, operational efficiency, and sustainability. Its offerings include automation, digitalisation, and integrated systems designed to support the needs of maritime customers across various applications. The company serves many segments including Cargo, Fisheries & Aquaculture, Naval & Coast Guard, Offshore Oil & Gas, Offshore Wind, Passenger vessels, and Research Workboats.
$6
--
$5.7B
$5.6B
Norway
AutoStore Holdings Ltd offers a world-class suite of hardware and software, providing end-to-end support from solution design to Robot operations. Using developed routing algorithms, powerful data insights, and reporting tools, the company continuously enhances its software and robotic solutions. The AutoStore system can serve all end markets and all types of warehouses, allowing the company to offer its solutions to a variety of industries, including grocery, retail, third-party logistics (3PL), industrials, and healthcare. The company operates in Norway, Germany, Europe, the U.S., Asia, and other regions. The maximum of its revenue is derived from Europe.
$2
+70%
$5.6B
$5.7B
Norway
Vend Marketplaces ASA is a family of digital consumer brands with growing positions within online marketplaces in the Nordics. With effect from the fourth quarter of 2024, the operating segments are Mobility, Real Estate, Jobs, Recommerce and Delivery. It derives maximum revenue from Mobility Segment. Geographically, it operates in Norway, Sweden, Denmark, Finland and Others. Its brands include Blocket, Finn, Tori, Dba, Oikotie, Bytbil, qasa, and others.
$21
+18%
$4.2B
$4B
Norway
Wilh. Wilhelmsen Holding ASA operates in the maritime industry and offers shipping and logistics services. The operating segments of the group are Maritime Services, New Energy, and Strategic Holdings and Investments. It derives key revenue from the Maritime Services segment which offers marine products, ship agency services and logistics to the merchant fleet and ship management including manning for all vessel types, through an international network of approximately 239 offices in 60 countries. The group has a business presence in Europe, Oceania, America, and Asia and Africa.
$96
+89%
$3.9B
$3.7B
Norway
Hoegh Autoliners ASA is a provider of transportation services within the Roll-on Roll-off (RoRo) segment. The company's fleet of Pure Car and Truck Carriers sailing in trade systems, combined with its local presence, enables the company to cater to the specific needs of its customers. It offers deep-sea transportation of RoRo cargo such as cars, high and heavy machinery and breakbulk. The Group has two operating segments, Shipping services and Logistics services. The company generates the majority of its revenue from the Shipping services segment.
$19
+114%
$3.8B
$4.6B
Norway
Nordic Semiconductor designs Bluetooth Low Energy chips for the wireless industry, making 90% of its revenue from this technology. Nordic’s chips are used in all types of battery-powered devices such as wearables, smarthome applications, asset trackers, and industrial and healthcare markets. In recent years Nordic has also expanded into adjacent technologies such as Wi-Fi, Thread protocol and long-range connectivity.
$18
+26%
$3.6B
$3.5B
Norway
Protector Forsikring ASA developer of a general P&C and employee benefits insurance provider designed to deliver cost and quality leadership in the insurance industry. The company offers standardized insurance products, all core systems insourced and developed in-house, enabling brokers and businesses across multiple countries to access competitive pricing and a value-based performance culture.
$43
-4%
$3.6B
$3.7B
Norway
Sparebanken Norge is a financial services company engaged in providing banking services. In addition, the Group delivers a wide range of banking services across savings, investments, payments, and insurance, as well as digital self-service solutions and personal advisory services, both in person and online. The group operates in five reportable segments: Corporate Market, Retail Market, Bulder, Estate Agency, and Brage Finans. The majority of its revenue is generated from the Retail market segment.
$21
+18%
$3.6B
$3.6B
Norway
DOF Group ASA is a provider of integrated subsea projects and marine services to the offshore energy market. DOF operates in five segments, which include DOF Subsea Group, DOF Rederi, Norskan Offshore Ltda, DOF Denmark, and Corporate and vessel management. The majority of revenue is derived from the subsea segment, which is engaged in subsea engineering and shipowning. The company generates the majority of its revenue from the DOF Subsea segment. The activities from the subsea operations include Subsea IMR projects contracts ("subsea projects") and fixed time charter contracts ("long-term chartering").
$14
+51%
$3.4B
$4.8B
Norway
SpareBank 1 SMN is a regional bank offering retail and corporate banking services and principally operating in Norway. The bank is among the owners of the SpareBank 1 Alliance. The services and products of the bank serves real estate, construction, sea farming, agriculture, fisheries, shipbuilding, offshore, and retail industries as well as the public and energy sectors. The bank's income is split nearly evenly between net interest income and net fees and commission income. The company has Retail Banking and Corporate Banking as its reportable segment.
$22
+18%
$3.1B
$3.1B
Norway
Veidekke ASA is engaged in construction and property development. It constructs building and residential projects, enters civil engineering contracts, and undertakes various infrastructure developments. The company has six operating segments; Construction Norway includes apartment complexes and non-residential buildings, Infrastructure Norway includes road maintenance, railways, power production, and airport, Construction Sweden includes construction projects, including residential units, offices, schools, and cultural buildings, Infrastructure Sweden includes infrastructure, extractive industries, heavy industry, energy, and recycling facilities/landfill, Denmark includes commercial buildings, and Other comprises undistributed costs.
$21
+35%
$2.8B
$2.5B
Norway
SpareBank 1 Ostlandet is a savings bank and regional financial institution. The bank offers financial products and services, including savings, financing, payment processing, insurance, capital management, investments, loans and credits, advisory services, foreign exchange and interest rate hedging, and pension solutions. The Group reports the following operating segments: Retail Banking (PM), Corporate Banking (BM), Real Estate Agency, Financing/Leasing, Accounting Services, and Unallocated operations. The bank mainly operates in Eastern Norway with a presence in Innlandet, Oslo, Akershus, and Buskerud through a branch network, digital channels, and customer centres.
$21
+17%
$2.8B
$2.8B
Norway
Tomra Systems ASA provides sorting and recycling solutions to equip customers for handling waste. The company creates and delivers sensor-based solutions that contribute to optimal resource productivity, in packaging, collection, compaction, recycling, ore sorting, and food production. It provides reverse vending machines, sensor-based sorting machines integrated post-harvest solutions, sensors for waste sorting applications, and other related products and solutions. The company's operating segments are; TOMRA Collection which generates key revenue, TOMRA Recycling, TOMRA Horizon, and TOMRA Food. Geographically, the company generates maximum revenue from Europe (excluding Northern Europe), followed by Northern Europe, America, Asia, and Oceania.
$9
-23%
$2.8B
$3.6B
Norway
TGS ASA provides data, intelligence, ocean bottom node (OBN) acquisition services, processing, analytics, cloud-based data applications, and other specialized services and solutions to energy companies across the energy spectrum, whether it is oil and gas, carbon capture and storage, or wind development. Its reportable segments are divided into six overall business units: Contract, Multi-client, New Energy Solutions (NES), Imaging, Shared Services. It generates the majority of its revenue from Multi-client sales.
$14
+62%
$2.8B
$3.5B
Norway
Bakkafrost P/F is a salmon producer based in the Faroe Islands. The company's activities include farming, harvesting, packaging, processing, and sales. The salmon products consist of whole salmon, frozen salmon portions, salmon heads, backbones, belly flaps, and salmon skin. Bakkafrost divides its operations into segments namely, Fishmeal, oil and feed segment, Freshwater FO segment, Farming FO segment, Freshwater SCT segment, Farming SCT segment, services, sales, and others. Geographically, the company derives maximum revenue from Western Europe.
$45
-1%
$2.7B
$3.5B
Norway
Leroy Seafood Group ASA is a seafood producer, originally from Norway. The company's core activities are distribution, sale, and marketing of seafood, processed seafood, salmon, fjord trout, cod, saithe, mackerel, herring, sushi, shellfish, and other species. Leroy Seafood Group serves hotels, restaurants, and retail segments with fresh, frozen, smoked, and marinated seafood products. Its main brands are Aurora Salmon, Artic Supreme, Fossen Fjord Fish, Leroj Fjord Trout, Leroy Sushi, and Leroy King Crab.
$4
-8%
$2.6B
$3.8B
Norway
Odfjell Drilling Ltd is an integrated offshore drilling and oil service company. The company and its subsidiaries operate mobile offshore drilling units. It operates in the segments Own Fleet, External Fleet, and Corporate/other. The Own Fleet segment operates mobile offshore drilling units owned by Odfjell Drilling. The External Fleet segment offers management services to other owners of drilling units; mainly operational management, management of regulatory requirements, marketing, contract negotiations, client relations, preparations for the operation, and mobilization. The majority of revenue is generated from the Own Fleet segment. Geographically, It operates in Norway.
$11
+31%
$2.5B
$3.5B
Norway
Kitron ASA is an electronics manufacturing service company. It manufactures products that are embedded in the customers' products and box-built electronic products. The company provides a high-level assembly of complex electromechanical products and also provides various other services within development, industrialization, supply chain management, logistics, and aftermarket services. The company has manufacturing facilities in Norway, Sweden, Denmark, Lithuania, Germany, Poland, the Czech Republic, India, China, and the United States. It serves Defense/Aerospace, Energy/Telecoms, Industry, Medical Devices, and Offshore/Marine markets.
$11
+45%
$2.4B
$2.4B
Norway
AF Gruppen ASA A is one of Norway's contracting and industrial groups. The company is a contractor and industrial group shaped by entrepreneurial spirit and implementation power. It delivers services within facilities, construction, property, energy, environment, and offshore, mainly in Norway and Sweden. The company conducts services for Civil engineering, Construction, Energy, Offshore, Environment, Property development, and Demolition. The majority of revenue comes from traditional building activities, including new projects and rehabilitation ventures. Environmental services revolve around demolition, removal, and environmental clean-up of buildings and industrial plants.
$19
+15%
$2.2B
$2.3B
Norway
Aker Solutions ASA provides integrated solutions, products and services to the world’s energy industry. Aker Solutions provides low carbon oil and gas solutions, and develops renewable solutions for customers around the world. Aker Solutions reports under the following reporting segments which are Renewables and Field Development includes Offshore wind power Green onshore Traditional oil and gas platforms Onshore facilities Decommissioning and marine operations Life Cycle segments involves Optimized field life solutions Decarbonization driven solutions Offshore and onshore facilities Life cycle offerings.
$4
+56%
$2.1B
$1.9B
Norway
DNO ASA is an oil and gas exploration and production company. Its producing assets are located across the North Sea, which generates the majority of the revenue, Kurdistan, and West Africa. The company holds working interests in both onshore and offshore fields and operates as either the sole operator or partner in many of its facilities. The company generates a majority of its revenue from the sale of oil and the rest from tariff income, the sale of gas, and natural gas liquids.
$2
+48%
$2B
$3B
Norway
Atea ASA is a Norway-based company that provides IT infrastructure and system integration services to customers. The company's product and services portfolio includes the sale of products such as third-party hardware and software, mobile device management and security software, and maintenance and operation of IT infrastructure services for companies, among others. The company operations are divided into six business segments based on geographical areas and services: Norway, Sweden, Denmark, Finland, The Baltics, and Shared Services. The firm generates the majority of its revenue in Sweden.
$17
+12%
$1.9B
$2.2B
Norway
SpareBank 1 Nord-Norge is a Norwegian banking services provider. Apart from general banking solutions, its areas of expertise include estate agency, asset financing, and accounting operations. The company operates with primary segments, namely the retail market and the corporate market. In addition, the subsidiary companies activities, such as accounting services, real estate brokerage, and leasing/sale-leaseback financing, are considered. The Retail Banking segment serves individual customers through the provision of retail banking products such as loans, deposits, cards, and insurance. The Corporate Banking segment focuses purely on corporate customers.
$18
+29%
$1.8B
$1.8B
Norway
Scatec ASA is a renewable energy solutions provider, developing, building, investing in, and operating renewable energy plants across different continents. The company's operating segments are Power Production (PP), Development and Construction, and Corporate. A majority of its revenue is generated from the Power Production segment, which manages the group’s power-producing assets and derives its revenue from the production and sale of solar, wind, and hydro-generated electricity, mainly based on long-term Power Purchase Agreements or feed-in tariffs. Geographically, it derives maximum revenue from South Africa, followed by Botswana, Tunisia, Netherlands, and other regions.
$11
+3%
$1.7B
$4.9B
Norway
BW Energy Ltd is an oil and gas company engaged in the acquisition, development, and production of oil and natural gas fields. The company has hydrocarbon licenses in Gabon, Brazil, and Namibia. The company generates its revenue from the production and sale of crude oil, and Petroleum revenue.
$7
+74%
$1.7B
$2.7B
Norway
Austevoll Seafood ASA is a fishery and seafood company that owns and operates fishing vessels, fishmeal plants, canning plants, freezing plants, salmon farming, and marketing and sales. The company mainly operates in Norway, the U.K., Peru, Chile, and North Atlantic region. AUSS's activities are segmented as Leroy Seafood Group ASA (Europe), Austral Group S.A.A (Peru), Foodcorp Chile S.A (Chile), Br. Birkeland AS (Norway), Br. Birkeland Farming AS (Norway) and the joint venture Pelagia Holding AS (Europe). Among the segments, Leroy Seafood Group ASA (Europe) generates the majority of the group's income.
$9
-10%
$1.7B
$4B
Norway
Entra ASA owns, develops, and manages properties in Norway. It is a commercial real estate company, focusing on large, high-quality, flexible, and environment-friendly office properties in clusters around central public transportation hubs in the cities in Norway. The property portfolio is divided into five different geographic areas Bergen, Oslo, Stavanger, Drammen, and Sandvika. The company leases its properties to the public sector. Rental income accounts for nearly all the company's operating revenue. It also generates income through property appreciation and sale.
$9
-15%
$1.7B
$5.1B
Norway
Flex LNG Ltd is an LNG shipping company with a fleet of next-generation LNG carriers with large cargo capacity. The fleet consists of thirteen modern LNG ships, ten existing and three under construction for delivery. All LNG carriers are equipped with slow-speed, two-stroke engines MEGI or X-DF propulsion which will provide Charterers with tonnage offering advantages in form of reduced fuel consumption and lowered boil-off rates.
$31
+19%
$1.7B
$3.1B
Norway
Borregaard ASA makes and sells biochemicals and biomaterials designed to replace oil-based products, It has three operating segments; BioSolutions segment develops, produces and sells biopolymers and bio vanillin from lignin used in Industries such as agrochemicals, batteries, industrial binders and construction. Bio vanillin is supplied to flavour and fragrance companies, as well as to the food and beverage industry, Biomaterials segment develops, produces and sells speciality cellulose mainly for use as a raw material in the production of cellulose ethers, cellulose acetate and other speciality products. It also includes cellulose fibrils for industrial applications, and the Fine Chemicals segment consists of fine chemical intermediates for contrast agents and bioethanol.
$16
-17%
$1.6B
$1.8B
Norway
BlueNord ASA is a strategically important European oil and gas company, specializing in producing and developing resources that support the energy transition towards net zero. The company operates in the Danish North Sea. It has a focus on developing and implementing solutions that will improve the long-term position of oil and gas as a key part of the energy mix while reducing greenhouse gas emissions on the Danish Continental Shelf.
$61
+33%
$1.6B
$2.8B
Norway
Public Property Invest ASA is a real estate company that acquires and manages properties in Norway through its subsidiaries. Its portfolio mainly consists of community service properties with public-sector tenants, centrally located in Norwegian cities. The company has one main operational unit. Its property portfolio is divided into six geographical regions: East, Inland, North, West, South, and Central.
$2
-29%
$1.6B
$4.2B
Norway
MPC Container Ships ASA is a Norway based company that engages in the investment in and operation of shipping assets. The group's principal business activity is to invest in and operate maritime assets in the container shipping segment. It owns and operates container shops and feeder vessels that are chartered out to liner shipping companies and regional carriers. The group has one reporting segment, i.e., the container shipping segment.
$3
+72%
$1.5B
$1.5B
Norway
Borr Drilling Ltd is a drilling contractor that owns and operates jack-up rigs of modern and high-specification designs providing drilling services to the oil and gas exploration and production industry. The company operates a fleet of around 16 jack-up drilling rigs. Geographically the activities are carried out through Norway.
$5
+54%
$1.5B
$3.7B
Norway
Europris ASA is a Norwegian discount store company. The group consists of two segments, Norway and Sweden. The Norwegian segment includes Europris ASA, Europris Holding AS, Europris AS, Europris Butikkdrift AS, Lekekassen Holding AS, and Strikkemekka Holding AS. The Swedish segment consists of Runsvengruppen AB, OoB AB, Runsven AB, Runsven Fastighets AB, and OoB Finans AB. The group operates a chain of stores in the discount variety retail sector and online stores that sell consumer goods, including sales to franchise stores. Retail sales are usually settled in cash or by debit or credit cards.
$9
0%
$1.4B
$2B
Norway
Solstad Maritime ASA operates offshore service and construction vessels, offering ships, additional services (ROVs, etc.), and maritime personnel across all geographical regions. Its operating business segments include AHTS, CSV, Services, and Others. The AHTS segment includes anchor handling tug supply vessels; the CSV segment represents operations of construction vessels performing subsea construction contracts; and the Services segment includes additional services provided across vessel spreads, i.e., ROVs, tooling, project personnel, and engineering support. All of the company's income is classified as Oil and Gas, which generates the majority of revenue, or Renewable. Geographically, it generates maximum revenue from the North Sea region.
$3
+69%
$1.4B
$1.9B
Norway
Elkem ASA offers material solutions that shape a more sustainable future. The company develops silicones, silicon products, and carbon solutions by combining natural raw materials, renewable energy, and human ingenuity. The group helps its customers create and improve essential innovations in electric mobility, digital communications, health, and personal care, as well as in smarter, more sustainable cities. It has three reportable segments, namely Silicones, Silicon Products, and Carbon Solutions. It generates the majority of the revenue from the Silicones segment.
$4
+33%
$1.3B
$2B
Norway
Norconsult ASA is principally engaged in the provision of planning and consultancy services for all phases of social planning, engineering design, and architecture projects. The Group also develops and distributes complete IT solutions for project, building, and facility management for infrastructure and property.
$4
-16%
$1.2B
$1.4B
Norway
Norwegian Air Shuttle ASA is an airline that operates short-haul flights across the Nordic countries and to destinations in Europe. The company has organized its operations into three functional business areas, including Commercial, Operations, and Support Functions. With over three hundred routes in its network, Norwegian Air Shuttle provides passengers with quality flights at affordable fares. The company's focus is on low-cost air travel for passengers, and it believes in offering friendly and helpful service while maintaining operational excellence.
$1
-26%
$1.2B
$1.8B
Norway
Bonheur ASA was initially a Norwegian shipping company. Currently, the company is engaged in several businesses. The company provides services through four segments: Other Investments, Renewable Energy, Cruise, and Wind Services. The renewable energy segment is involved in developing, constructing, and operating wind farms in Scotland, Norway, Sweden, Ireland, Italy, and the USA. The wind Service segment is engaged in logistics and services within the offshore wind industry. Cruise owns and operates four cruise ships and provides a diverse range of cruises, The other investments segment has investments within media, real estate, bonds, and shares.
$27
+26%
$1.2B
$1.6B
Norway
Aker BioMarine ASA is a supplier of krill-derived products, with a fully owned supply chain. The operations of the company span from harvesting krill in Antarctica with vessels owned by the company including distribution from Uruguay, and further processing of the krill into oil products in the United States. The segments of the company include Human Health Ingredients, Consumer Health Ingredients, and Emerging Businesses. The company generates the majority of its revenue from the Human Health Ingredients segment, which includes Superba, Lysoveta, PL+ Algae, and the company's Houston manufacturing plant. The segment sells B2B krill oil supplements to nutritional brands for humans around the world.
$13
+48%
$1.1B
$1.3B
Norway
Odfjell SE is a company engaged in the transportation and storage of bulk liquid chemicals, acids, edible oils, and other specialty products. It also owns and operates chemical tankers and tank terminals. The Company has two reportable operating segments: The Chemical Tankers involve a round-the-world service, servicing ports in Europe, North America, South America, the Middle East, Asia, Australia, and Africa, and the Tank Terminals segment offers storage of various chemical and petroleum products. It operates through various geographical regions, which include North and South America, Norway, the Netherlands, Australasia, the Middle East, and Asia. It derives a majority of its revenue from the Middle East and Asia.
$14
+12%
$1.1B
$2B
Norway
Norbit ASA is a provider of tailored technology to selected applications by solving challenges through solutions. It is organised in three operating segments: Oceans, Connectivity and Product, Innovation & Realization (PIR). The Oceans segment delivers tailored technology solutions to the maritime markets, the Connectivity segment supplier of secure wireless technology for industrial and mission-critical applications - ranging from transportation infrastructure to navigation and defence-related environments, and the Product, Innovation & Realization (PIR) segment provides R&D products and services and contract manufacturing to key customers. The majority of the company's revenue is derived from the PIR segment.
$17
-18%
$1.1B
$1.1B
Norway
Arendals Fossekompani ASA is an industrial investment company holding several core investments and a portfolio of financial investments. The company invests in and owns companies that make energy from renewable sources more usable and accessible, and that contribute to a more sustainable use of resources. It owns and operates two hydropower plants. In addition, the firm operates globally in many forward-looking industries, including 3D printing, algo trading, satellite services, battery and solar technology, software and digitalization, as well as various green energy technologies. The company has seven operating segments: Group Management, AFK Vannkraft, NSSLGIobaI, ENRX, Tekna, AFK Eiendom, and Others.
$19
+42%
$1B
$1.1B
Norway
Elopak ASA is a supplier of carton packaging, filling equipment, and technical services. It uses renewable, recyclable, and sustainably sourced materials to provide packaging solutions. The company offers a natural and convenient alternative to plastic bottles and fits within a low-carbon circular economy. It generates the majority of its revenue from Cartons and closures, followed by Equipment and services. The company's geographical areas include Germany, the United States, Canada, the Netherlands, Norway, and others.
$4
-23%
$981M
$1.5B
Norway
B2 Impact ASA is a Nordic-based debt management company and a pan-European debt solutions provider active in purchasing non-performing loans, debt collection, and third-party debt collection. The company offers solutions to the challenges created by defaulted loans through transparent and ethical debt management, builds financial health, and provides liquidity to financial institutions, contributing to a healthier financial system. The Group's services include debt collection, debt purchase, and third-party debt collection. Its main business lines are investments in non-performing loan (NPL) portfolios and servicing of debt, including third-party debt collection, with operations focused on unsecured and secured asset management across multiple European markets.
$2
+40%
$893M
$1.9B
Norway
Himalaya Shipping Ltd is an independent dry bulk company that focuses on owning and operating its Newcastlemax dry bulk carriers.
$18
+131%
$853M
$1.5B
Norway
Sentia ASA is engaged in large-scale, complex, and sustainable construction projects. The Group has presence across Norway and Sweden and consists of the following two main business segments: HENT (HENT) and Sweden (Sentia Sweden). It is a construction group that builds large-scale, complex buildings and structures for private and public clients, such as hospitals, schools and universities, administrative buildings, police and defence buildings, swimming pools, hotels, apartment buildings, station buildings, land-based fish farming facilities, factory buildings, and more. The Group receives its construction projects either through direct contact with customers or through organised tender processes.
$8
+35%
$850M
$493M
Norway
Pexip Holding ASA is a technology company that provides video communication solutions and virtual meeting solutions for businesses and individuals. Geographically, it derives a majority of revenue from Europe, the Middle East, and Africa and also has a presence in the Americas and the Asia Pacific. It serves Government; Healthcare; Education and Finance industries.
$8
+30%
$840M
$798M
Norway
SATS ASA is engaged in providing fitness training services in the Nordics for both men and women. The company's training options include studio training for individual strength and cardio training, group training classes, personal trainers specializing in a wide range of areas, boot camps for smaller groups, out-of-club training for members' convenience, and retail shops providing members.
$4
+20%
$830M
$1.5B
Norway
Solstad Offshore ASA is an owner and operator of offshore service vessels, offering maritime services to the petroleum and renewable energy industries. Its operating segments include AHTS: Anchor handling tug supply vessels; and CSV: Construction service vessels operating subsea construction contracts. Key revenue is generated from South America.
$8
+75%
$821M
$1.3B
Norway
BW Offshore Ltd is a holding company. It is engaged in developing, owning, and operating oil and gas Floating Production, Storage, and Offloading vessels (FPSO) and Floating, Storage and Offloading (FSO) vessels. The company's main activities are engineering, procurement, construction, and installation, as well as lease and operation services for FPSOs. The operating segment of the company is FPSO and Floating Wind, of which the majority of its revenue is from the FPSO segment. Geographically, the company operates in Americas, Europe/Africa, Asia and the Pacific.
$4
+17%
$779M
$2.3B
Norway
SpareBank 1 Ringerike Hadeland is a savings bank in Norway offering financing, placement, payment services, pensions, and life insurance. Its business is organized into two sections, personal and corporate market. The Bank serves less self-employed, agricultural, and business class customers as well. The Bank also provides credit cards, debit cards, structured products, stock savings, mobile banking and online banking services. The company has one segment, which is lending to finance commercial property, including lending that represents the joint debt of a condominium or housing association.
$47
+22%
$734M
$734M
Norway
LINK Mobility Group Holding ASA is a provider of mobile and CPaaS solutions specializing in messaging, digital services, and intelligent data usage. The company's segment include Northern Europe comprising of enterprise traffic in Norway, Sweden, Denmark, and Finland; Central Europe comprising of enterprise traffic in Italy, Bulgaria, Romania, North Macedonia, Poland, Hungary, Germany, and Austria; Western Europe comprising of enterprise traffic in Spain (including subsidiaries in Colombia and Mexico), France, the United Kingdom, and Portugal; and Rest of the World comprising of enterprise traffic in South Africa and it's international business.
$3
-16%
$710M
$920M
Norway
Klaveness Combination Carriers ASA is an owner and operator of combination carrier vessels designed to transport both wet and dry bulk cargo in Norway. The company provides maritime transportation services and operates vessels across trade routes where dry and liquid cargoes can be carried efficiently within the same shipping cycle. Its fleet includes CABU and CLEANBU vessels used in bulk shipping operations. The reportable segments are CABU and CLEANBU, with the majority of the revenue derived from the CABU vessels.
$11
+44%
$653M
$944M
Norway
Endur ASA is a Nordic industrial group and supplier of infrastructure and solutions for the land-based aquaculture industry. The group is a supplier of construction and maintenance projects and services for infrastructure, including facilities for land-based aquaculture, quays, harbours, dams, bridges, and other specialized concrete and steel projects. Its Company focuses on new buildings and rehabilitations of industrial and residential real estate, turnkey constructions, carpentry and timber structures, for both public and private clients. The company and its subsidiaries also offer a wide range of other specialized projects and marine services.
$13
+48%
$640M
$742M
Norway
AKVA Group ASA is a technology and service partner in the aquaculture industry. The company has three operating segments; Sea-Based Technology includes products like feed barges, fish farming cages, feed systems, nets, sensors, cameras, light systems, net cleaning systems, and remotely operating vehicles, Land Based Technology includes Recirculation technology that allows re-use of the water by cleaning the water and restoring important water quality parameters, using water treatment technology, and Digital includes products like FishtalkTM, AKVAconnect, and Observe. The FishtalkTM software includes brands such as Production control, planning, traceability, and ERP software for both the aquaculture and the fishing industry.
$16
+84%
$600M
$762M
Norway
Sparebank 1 Ostfold Akershus is a regional savings bank operating through SpareBank 1 Corp. It offers a range of financial services including loans, savings, advice, insurance and pensions to personal and corporate customers. The Bank also offers credit cards, debit cards, structured products, stock savings, mobile banking and online banking services.
$46
+3%
$570M
$570M
Norway
Cloudberry Clean Energy ASA is an independent power producer, developing, owning and operating renewable assets in the Nordics. The company is focused on developing, owning, and operating hydropower plants, wind farms, BESS and solar plants across Norway, Sweden, and Denmark. The company has four segments: Projects, Commercial, Asset Management and Corporate. The majority of revenue is derived from the Commercial segment, which owns and manages renewable power assets with long-term cash flows in the Nordics. Geographically, it generates the maximum revenue from Denmark, followed by Norway and Sweden.
$1
-8%
$555M
$936M
Norway
Kid ASA is a home textile retailer in Norway. The company offers a full range of home and interior products which includes textiles, curtains, bed linens and other interior products. The company operating segments are: KID and Hemtex.
$14
+0%
$555M
$807M
Norway
Sparebanken Møre is a Norway-based banking corporation. It engaged in providing retail and commercial banking services to its customers. Products and services provided by the company include deposits, savings accounts, asset management, financial advisory services, payment transfers, foreign exchange and interest trading, insurance, and real estate brokerage. In addition, the company also provides real estate brokerage services for both residential homes and commercial properties. It mainly concentrates on maritime, offshore and supply, real estate, trade, and services, as well as the insurance industries. It firm manages its business into three segments: Corporate, Retail, and Real Estate brokerage. The revenue of the company comprises interest, fees, commission, and other income.
$11
+12%
$553M
$553M
Norway
Medistim ASA is a medical device company. It is engaged in researching, developing, producing, distributing, and sales of medical equipment through its own business or participation in other companies, as well as related activities. The company's business is focused on cardiac and vascular surgery. The group operates in the USA, Europe, China, and the Rest of the World. The main divisions are sale of own products and sale of third-party products. Sale of own products has two business models, the capital model and the lease model. Third-party products segment sells medical devices from third party manufacturers in Norway, Sweden and Denmark. Key revenue is generated from Own Products segment.
$29
+8%
$537M
$530M
Norway
Elmera Group ASA is engaged in the sale of electrical power and related services. The company has three operating segments: Consumer, Business, and Nordic. The Consumer segment comprises the sale of electrical power and related services to private consumers in Norway. The Business segment includes the sale of electrical power and related services to business customers in Norway. The Nordic segment involves the sale of electrical power and related services to consumers in Finland and Sweden. It generates the majority of its revenue from the Consumer segment.
$5
+51%
$535M
$665M
Norway
Smartoptics Group ASA provides optical networking solutions and devices for open networking. The company has three main product categories: Solutions, Optical Devices, and Software & Services. These products are used to construct various Enterprise, Governmental, DCI, Metro, and Regional networks. The Solutions consist of the DCP-R family, DCP-F family, DCP-M family, Transponders and Muxponders, as well as transceivers used in connection with the System projects. Optical devices consist of transceivers, passive filters, and accessories that are sold independently of products in the Solutions offering. Software and Services are closely related to Solutions, as customers buy a complete solution including a Software and Services package.
$5
+71%
$525M
$529M
Norway
Bouvet ASA is a consultancy company that provides advice in the field of information technology and digital communication. It helps enterprises shape digital solutions that create efficiency and new business opportunities. The company caters to both private and public-sector players. Some of the business sectors that it caters to include Power supply, Industry, Oil and gas, Public admin, Transportation, Retail, Information and communication, Service industry, and Health. The company's geographical segments are Norway, Sweden, and other countries, of which the vast majority of its revenue comes from Norway.
$5
-22%
$509M
$526M
Norway
Masoval AS owns, operates, and develops companies in the aquaculture industry, which contribute to positive ripple effects and value creation throughout the region. The group is organized into business units based on its activities and has two operating segments: Farming and Sales & processing. The Farming segment includes the purchase of salmon roe, farming on land and sea, related service activities and the sale of salmon to exporters. The Sales and Processing segment includes harvesting activities and the sale of salmon and other species of fish in Norway and for export. The firm generates the majority of its revenue from Farming segment, which is further divided into Farming mid and Farming west. The firm generates revenue from Norway, Europe without Norway, Asia, and Other countries.
$4
+60%
$485M
$693M
Norway
Morrow Bank ASA is a Norwegian bank offering convenient payment and financing products to consumers. It is a focused Nordic digital niche bank offering personal loans, credit cards, deposit accounts, and online point-of-sales finance products to consumers.
$2
--
$479M
$479M
Norway
Bewi ASA is engaged in the production and sale of packaging, components, and insulation solutions. The group operates through four reportable segments: RAW, Insulation & Construction, Packaging & Components, and Circular. The RAW segment produces raw materials, mainly expanded polystyrene (EPS), supplying feedstock to downstream operations. The Insulation & Construction segment develops and manufactures insulation solutions for building and infrastructure applications. The Packaging & Components segment provides packaging solutions and technical components for industries such as food, automotive, and HVAC. The Circular segment focuses on the collection, recycling, and processing of used EPS and the production of recycled materials.
$2
+16%
$477M
$980M
Norway
SpareBank 1 Helgeland is a regional bank engaged in providing banking and financial services. It offers savings products, payment services, credit cards, saving accounts, placement services, loans, insurance, shares, and currencies, as well as an online banking facility. The bank’s operations are divided into two segments: Retail Market (RM) and Corporate Market (CM). The company serves creditors, customers, employees, management, and society in general. Geographically, all the operations of the bank are carried out from Helgeland.
$18
+5%
$476M
$476M
Norway
Sea1 Offshore Inc is a vessel provider to the offshore oil and gas and renewable industry. It provides a wide range of services with its vessels, equipment and an experienced crew. The fleet consists of various vessels and includes platform supply vessels, anchor handling tug and supply as well as offshore subsea construction and well intervention vessels. The reportable segments are Subsea Vessels, Anchor-Handling Tug Supply (AHTS) Vessels, Platform Supply Vessels (PSVs), Fast Crew & Oil Spill Recovery Vessels, and Other. The company generates the majority of its revenue from the Subsea Vessels segment.
$3
+54%
$469M
$743M
Norway
Okea ASA is an independent oil producer. The company's only reportable segment is the development and production of oil and gas on the Norwegian Continental Shelf. The operations of the company include Draugen Field, Gjoa Field, Ivar Aasen, and others. The company generates the majority of its revenue from the sale of crude.
$4
+146%
$463M
$431M
Norway
Hexagon Composites ASA is a supplier of clean energy technology for gas storage, distribution, fuel systems, and drivetrains. Its operating segments are Hexagon Agility & CNG LDV, Hexagon Purus, Hexagon Digital Wave, and Hexagon Ragasco LPG. Hexagon Agility & CNG LDV segment offers natural gas fuel systems and delivery solutions for the mobility market. Hexagon Purus is a provider of technology needed for zero-emission mobility. The Hexagon Digital Wave segment offers cylinder testing and monitoring technology. Hexagon Ragasco LPG segment is a manufacturer of composite LPG cylinders. It operates through Europe, North America, Southeast Asia, the Middle East, and Norway geographic regions.
$1
+50%
$443M
$564M
Norway
Moreld ASA is providing a range of offshore services and integrated solutions for the energy, marine, and industrial sectors, driving growth and innovation.
$2
+45%
$434M
$638M
Norway
Bohus ASA is a Norwegian retail group operating in the furniture and home furnishing market. It serves customers through a store network and digital sales channels. Its product offerings are organized into three categories: (i) furniture, (ii) secondary products, and (iii) complementary products.
$4
--
$406M
$606M
Norway
Pareto Bank ASA operates as a commercial bank in Norway. It offers diversified financial services including accepting deposits, financing of construction and rehabilitation of housing, financing solutions for companies, owners and investors, financing of shipping and offshore projects, banking. The bank also offers credit cards and online banking.
$5
-38%
$404M
$404M
Norway
General Oceans ASA is an ocean technology company engaged in providing underwater solutions, including sensors, systems, and robotic technologies for marine environments. The group operates through two segments: Sensors and Robotics. The Sensors segment focuses on instrumentation technologies for measuring ocean dynamics, imaging, and navigation, while the Robotics segment provides remotely operated and autonomous vehicle solutions with associated manipulators and control systems. It generates the majority of its revenue from the Sensors segment. The company serves industries such as ocean science, defense, and offshore energy through a portfolio of specialized brands.
$2
--
$399M
$352M
Norway
ABG Sundal Collier Holding ASA is a Nordic investment bank specializing in equity research, brokerage, corporate finance, and advisory services for institutional investors and Nordic businesses. The company has one operating segment, Investment banking and capital markets. Geographically, the company has operations in Norway, Sweden, Denmark, and International, and the majority of revenue is generated from Norway.
$1
+8%
$394M
$348M
Norway
Akastor ASA is an oil-services investment company with a portfolio of industrial holdings, real estate, and other investments. Its portfolio includes drilling systems and lifecycle services supplier MHWirth, and vessel-based subsea well construction services. The company has a flexible mandate for active ownership and long-term value creation. The segments include, HMH, AKOFS offshore, DDW offshore and other holdings. Geographically the business presence of the group is seen across the region of Norway, Singapore, North America, South America, Australia, the Middle East, and other regions.
$1
+30%
$391M
$335M
Norway
Norske Skog ASA is an industrial company in publication paper, packaging paper, energy production, and bioproducts. Publication paper products comprise both newsprint and magazine paper, both of which are marketed under the NOR brand. Packaging paper includes the recycled containerboard grades test liner and fluting, which are marketed under the STRATO brand. The company's core bioproducts are the nanocellulose product CEBINA and the bio-composite product CEBICO. Norske Skog owns and operates four industrial sites in Europe and one industrial site in Australasia.
$5
+195%
$389M
$845M
Norway
Multiconsult ASA is a specialist in engineering design, consultancy, and architecture services. The company's activities involve multidisciplinary consultancy, design, planning, project supervision, project management, geotechnical site surveys, verification, and controls in Norway and abroad. It provides engineering services in Norway, Sweden and Poland in addition to architecture services in all three Scandinavian countries. Its business segments are Buildings and Properties, Mobility and Transportation, Energy and Industry, and Water and Environment. Majority of revenue is from Buildings and Properties. Its geographical segments include Norway, Sweden, Denmark, Poland, and other countries.
$14
-18%
$386M
$538M
Norway
NEL ASA is a hydrogen company delivering optimal solutions to produce, store and distribute hydrogen from renewable energy. It serves industries, energy, and gas companies with hydrogen technology. The company's hydrogen solutions cover the entire value chain from hydrogen production technologies to the manufacturing of hydrogen fueling stations, providing all fuel cell electric vehicles with the same fast fueling and long range as conventional vehicles. The company's segments include Nel Alkaline Electrolyser and Nel PEM Electrolyser. It generates maximum revenue from the Nel Alkaline Electrolyser. Nel Alkaline Electrolyser segment a supplier of hydrogen production equipment based on alkaline water electrolysis technology.
$0
-5%
$383M
$267M
Norway
Cambi ASA is a provider of thermal hydrolysis, anaerobic digestion, and biogas solutions for sewage sludge and organic waste management. The services of the company include Engineering Design, Installation, Sample Testing, Commissioning, and Digester Ramp-Up among others. It operates through two business segments: The Technology segment comprises the research, development, sale, manufacturing, and delivery of THP plants and ancillary equipment to customers. The Solutions segment comprises all services to the growing installed base of Cambi THP plants, including upgrades, capacity expansions, maintenance, and operations, previously found in the Cambi Group segment as the Services subsegment. It generates majority of its revenue from the technology segment.
$2
+26%
$378M
$338M
Norway
Rogaland Sparebank is an independent savings bank. The company offers a broad range of banking and investment products to retail and corporate customers. The services provided by the company include daily banking, Insurance, loans, Savings, pensions, and others.
$16
+14%
$359M
$359M
Norway
Andfjord Salmon Group AS is a Norwegian company engaged in salmon farming. The company's farming facility is located on Andoya, the northernmost island in the Arctic Archipelago of Lofoten, Vesteralen. The company's business is to farm salmon with the of selling to third parties when the fish has reached a mature state. The company operated one salmon pool facility. The facility uses a seawater flow-through system that avoids issues with salmon lice and poisonous algae, prevents salmon escapement, and at the same time contributes to reduced feed waste.
$3
+0%
$356M
$527M
Median$11+22%$1.4B$1.9B2.7x9.1x

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