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 509,571 37,570 59,171 47,236 42,368 218,337 260,490 13.6 8.6 10.8 12.0 2.33 1.96

Oilservice 146,734 9,933 11,930 13,577 12,879 83,950 90,171 14.8 12.3 10.8 11.4 1.75 1.63

Finance 474,103 36,219 35,303 36,957 38,138 238,117 255,254 13.1 13.4 12.8 12.4 1.99 1.86

Real Estate 10,879 326 594 680 713 14,738 13,858 33.4 18.3 16.0 15.3 0.74 0.79

Materials 242,720 15,626 23,869 20,705 18,500 127,319 140,074 15.5 10.2 11.7 13.1 1.91 1.73

Telecom 94,827 5,262 5,394 5,206 5,654 32,227 34,688 18.0 17.6 18.2 16.8 2.94 2.73

Industrials 264,159 7,022 8,913 12,075 13,416 36,672 32,000 37.6 29.6 21.9 19.7 7.20 8.25

Seafood 169,125 5,664 10,644 14,036 15,825 76,421 83,722 29.9 15.9 12.0 10.7 2.21 2.02

Consumer 166,432 9,513 9,873 11,539 12,635 69,179 69,714 17.5 16.9 14.4 13.2 2.41 2.39

IT 68,245 1,215 2,159 2,683 3,301 13,440 16,526 56.2 31.6 25.4 20.7 5.08 4.13

Shipping 128,080 14,880 19,472 12,510 10,746 80,800 93,976 8.6 6.6 10.2 11.9 1.59 1.36

Health Care 3,332 -115 -66 -95 -95 1,330 1,158 Na Na Na Na 2.50 2.88

Total 2,278,207 143,114 187,256 177,109 174,081 992,529 1,091,630 15.9 12.2 12.9 13.1 2.30 2.09

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 509,571 37,570 53,625 39,591 38,212 218,337 260,490 13.6 9.5 12.87 13.34 2.33 1.96

Oilservice 146,734 9,933 12,266 14,653 14,581 83,950 90,171 14.8 12.0 10.01 10.06 1.75 1.63