OSEBX weekly valuation monitor

研报英文原文证据摘录

OSEBX weekly valuation monitor

Strategy

OSEBX – Detailed forecast per sector

OSEBX sector valuation based on FactSet estimates

OSEBX Market Cap Earnings Book values

Sector 2025 2026e 2027e 2028e 2025 2026e PE 25 PE 26e PE 27e PE 28e P/B 25e P/B 26e

Oil & Gas 509,240 37,570 58,672 47,089 42,479 218,337 259,857 13.6 8.7 10.8 12.0 2.33 1.96

Oilservice 157,697 9,933 12,015 13,643 12,965 83,950 93,198 15.9 13.1 11.6 12.2 1.88 1.69

Finance 457,832 36,219 35,361 36,963 38,156 238,117 255,286 12.6 12.9 12.4 12.0 1.92 1.79

Real Estate 10,282 326 720 878 922 14,738 13,920 31.5 14.3 11.7 11.1 0.70 0.74

Materials 237,381 15,626 23,777 20,705 18,551 127,319 139,984 15.2 10.0 11.5 12.8 1.86 1.70

Telecom 98,460 5,262 5,394 5,285 5,739 32,227 37,845 18.7 18.3 18.6 17.2 3.06 2.60

Industrials 253,831 7,022 8,919 12,087 13,432 36,672 32,006 36.1 28.5 21.0 18.9 6.92 7.93

Seafood 164,437 5,664 10,854 14,167 15,869 76,421 84,418 29.0 15.2 11.6 10.4 2.15 1.95

Consumer 168,585 9,513 9,928 11,666 12,772 69,179 71,931 17.7 17.0 14.5 13.2 2.44 2.34

IT 67,236 1,215 2,182 2,709 3,329 13,440 16,814 55.3 30.8 24.8 20.2 5.00 4.00

Shipping 129,286 14,880 18,804 12,177 10,464 80,800 92,589 8.7 6.9 10.6 12.4 1.60 1.40

Health Care 3,193 -115 -87 -96 -96 1,330 1,158 Na Na Na Na 2.40 2.76

Total 2,257,459 143,114 186,537 177,274 174,581 992,529 1,099,006 15.8 12.1 12.7 12.9 2.27 2.05

Source: Factset, ABG Sundal Collier

OSEBX sector valuation based on ABGSC estimates

Sector 2025 2026e 2027e 2028e 2025 2026e PE 25 PE 26e PE 27e PE 28e P/B25e P/B25e

Oil & Gas 509,240 37,570 53,625 39,591 38,242 218,337 259,857 13.6 9.5 12.86 13.32 2.33 1.96

Oilservice 157,697 9,933 12,275 14,652 14,568 83,950 93,198 15.9 12.8 10.76 10.82 1.88 1.69