ATLASLargest Companies in Norway by Market Cap (October 2026)
The 129 listed companies ATLAS covers in Norway range from small caps to national champions. These are the 25 largest by market value, converted to US dollars so they can be compared. The three biggest (Equinor, DnB, and Kongsberg Gruppen) account for 41% of the combined market value of the whole list.
Data as of Oct 30, 2026. Prices and ratios are the latest stored close; this page refreshes at least every 6 hours.
| # | Company | Price | Market cap |
|---|---|---|---|
| 1 | EQNR.OLEquinor | NOK 435.40 | $108B |
| 2 | DNB.OLDnB | NOK 320.20 | $45.7B |
| 3 | KOG.OLKongsberg Gruppen | NOK 352.70 | $27.9B |
| 4 | AKRBP.OLAker BP | NOK 388.30 | $24.4B |
| 5 | TEL.OLTelenor | NOK 130.20 | $17.7B |
| 6 | NHY.OLNorsk Hydro | NOK 68.44 | $15.5B |
| 7 | VAR.OLVar Energi | NOK 57.60 | $14.4B |
| 8 | GJF.OLGjensidige Forsikring | NOK 261.20 | $13.1B |
| 9 | MOWI.OLMowi | NOK 214.60 | $11.5B |
| 10 | YAR.OLYara International | NOK 392.70 | $11.1B |
| 11 | AKER.OLAker | NOK 1,180 | $10.0B |
| 12 | ORK.OLOrkla | NOK 96.85 | $9.6B |
| 13 | SB1NO.OLSpareBank 1 Sør-Norge | NOK 232.00 | $8.8B |
| 14 | STB.OLStorebrand | NOK 195.10 | $8.4B |
| 15 | WAWI.OLWallenius Wilhelmsen Logistics | NOK 171.00 | $8.1B |
| 16 | SALM.OLSalMar | NOK 575.00 | $7.9B |
| 17 | VEND.OLVEND MARKETPLACES | NOK 219.00 | $4.6B |
| 18 | WWI.OLWilh Wilhelmsen Holding ASA A | NOK 868.00 | $4.0B |
| 19 | HAUTO.OLHoegh Autoliners | NOK 182.00 | $3.9B |
| 20 | PROT.OLProtector Forsikring | NOK 446.20 | $3.7B |
| 21 | SBNOR.OLSparebanken Vest | NOK 205.25 | $3.7B |
| 22 | DOFG.OLDOF | NOK 133.40 | $3.5B |
| 23 | NOD.OLNordic Semiconductor | NOK 183.00 | $3.5B |
| 24 | MING.OLSparebank 1 SMN | NOK 217.35 | $3.3B |
| 25 | VEI.OLVeidekke | NOK 210.50 | $2.9B |
Fair value gap: a negative number means the price is below ATLAS fair value. "Chance up" is the probability of a higher close in 21 trading sessions (about a month) in ATLAS's calibrated model.
The top 10 in a sentence
- Equinor (EQNR.OL) has a market value of $108B. ATLAS puts it close to its fair value. ATLAS gives it a 52% chance of closing higher in a month.
- DnB (DNB.OL) has a market value of $45.7B. ATLAS puts it 24% below its fair value. ATLAS gives it a 55% chance of closing higher in a month.
- Kongsberg Gruppen (KOG.OL) has a market value of $27.9B. It trades 48% above ATLAS fair value. ATLAS gives it a 50% chance of closing higher in a month.
- Aker BP (AKRBP.OL) has a market value of $24.4B. ATLAS gives it a 52% chance of closing higher in a month.
- Telenor (TEL.OL) has a market value of $17.7B. ATLAS puts it 54% below its fair value. ATLAS gives it a 54% chance of closing higher in a month.
- Norsk Hydro (NHY.OL) has a market value of $15.5B. ATLAS puts it close to its fair value. ATLAS gives it a 51% chance of closing higher in a month.
- Var Energi (VAR.OL) has a market value of $14.4B. ATLAS puts it 37% below its fair value. ATLAS gives it a 52% chance of closing higher in a month.
- Gjensidige Forsikring (GJF.OL) has a market value of $13.1B. It trades 59% above ATLAS fair value. ATLAS gives it a 54% chance of closing higher in a month.
- Mowi (MOWI.OL) has a market value of $11.5B. ATLAS puts it 55% below its fair value. ATLAS gives it a 53% chance of closing higher in a month.
- Yara International (YAR.OL) has a market value of $11.1B. ATLAS puts it 46% below its fair value. ATLAS gives it a 52% chance of closing higher in a month.
How the largest companies in Norway are ranked
Market value is price times shares outstanding, stored in US dollars so companies quoted in different currencies compare. Where market value and share count do not reconcile (several share classes, dual listings), the company is left out of the size ranking rather than shown with a wrong number.
There are no quality filters here: this is size, not merit. The fair value gap and the one-month probability are shown for context.
Limits: market values move every day with prices and exchange rates, and the figure shown is the latest ATLAS has stored. A large company is not automatically a safe or cheap one. This is information, not investment advice.
Frequently asked questions
What are the largest companies in Norway?
In October 2026, the three largest listed companies in Norway by market value are Equinor, DnB, and Kongsberg Gruppen. The three together are worth $181B.
How concentrated is the stock market in Norway?
The three largest companies account for 41% of the combined market value of the 129 companies on the list, a quick measure of concentration.
Is the biggest company the best investment?
No. Size says how much the market values a company today, not whether it is cheap or likely to rise. Compare the fair value gap and the ratios on each company page.
How is market value measured here?
Price times shares outstanding, in US dollars at the latest exchange rate ATLAS has stored. Companies whose share count does not reconcile with their stored value are left out.
How often is this list updated?
Prices and values come from ATLAS's stored data, refreshed every day, and this page is rebuilt at least every 6 hours.
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- Best Dividend Stocks in Norway (October 2026)
- Undervalued Stocks in Norway (October 2026)
- Top Most Stable Stocks in Norway (October 2026)
Largest companies: other countries
Information only, not investment advice. ATLAS estimates come from statistical models using public data; they can be wrong, and past results do not guarantee future ones. Disclaimer