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Var Energi ASAOSL:VAR +2.02%81 PE Ratio (TTM) is 16.74 as of Jul. 18, 2026, which is 29% above its 10-year median of 12.95. GuruFocus rates OSL:VAR with a GF Score™ of 81/100 and a GF Value™ of kr44.78 (Fairly Valued). The stock has 4 warning signs investors should review. Among 620 Oil & Gas companies, Var Energi ASA ranks worse than 55.16% on this metric.
The PE Ratio (TTM), or Price-to-Earnings ratio, or P/E Ratio, is a financial ratio used to compare a company's market price to its Earnings per Share (Diluted). As of today (2026-07-18), Var Energi ASA's share price is
kr44.40.
Var Energi ASA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 was kr2.65. Therefore, Var Energi ASA's PE Ratio (TTM) for today is 16.74.
The historical rank and industry rank for Var Energi ASA's PE Ratio (TTM) or its related term are showing as below:
OSL:VAR'
s PE Ratio (TTM) Range Over the Past 10 Years
Min: 7.01 Med: 12.95 Max: 34.8
Current: 16.72
During the past 8 years, the highest PE Ratio (TTM) of Var Energi ASA was 34.80. The lowest was 7.01. And the median was 12.95.
OSL:VAR's PE Ratio (TTM) is ranked worse than 55.16% of 620
companies
in the Oil & Gas industry
Industry Median: 14.77
vs OSL:VAR: 16.72
During the past 12 months, Var Energi ASA's average EPS without NRIGrowth Rate was -67.80% per year.
During the past 3 years, the average EPS without NRIGrowth Rate was -36.40% per year.
During the past 5 years, the average EPS without NRIGrowth Rate was 2.20% per year.
During the past 8 years, Var Energi ASA's highest 3-Year average EPS without NRI Growth Rate was 107.70% per year. The lowest was -36.40% per year. And the median was 27.95% per year.
Var Energi ASA's EPS (Basic) for the
three
months ended in Mar. 2026 was kr1.35.
Its EPS (Basic) for the trailing twelve months (TTM) ended in Mar. 2026 was kr2.65.
Var Energi ASA (OSL:VAR) PE Ratio (TTM) Explanation
The PE Ratio (TTM) can be viewed as the number of years it takes for the company to earn back the price you pay for the stock. For example, if a company earns $2 a share per year, and the stock is traded at $30, the PE Ratio (TTM) is 15. Therefore it takes 15 years for the company to earn back the $30 you paid for its stock, assuming the earnings stays constant over the next 15 years.
In real business, earnings never stay constant. If a company can grow its earnings, it takes fewer years for the company to earn back the price you pay for the stock. If a company's earnings decline it takes more years. As a shareholder, you want the company to earn back the price you pay as soon as possible. Therefore, lower P/E stocks are more attractive than higher P/E stocks so long as the PE Ratio (TTM) is positive. Also for stocks with the same PE Ratio (TTM), the one with faster growth business is more attractive.
If a company loses money, the PE Ratio (TTM) becomes meaningless.
To compare stocks with different growth rates, Peter Lynch invented a ratio called PEG Ratio. PEG Ratio is defined as the PE Ratio (TTM) divided by the growth ratio. He thinks a company with a PE Ratio (TTM) equal to its growth rate is fairly valued. Still he said he would rather buy a company growing 20% a year with a PE Ratio (TTM) of 20, instead of a company growing 10% a year with a PE Ratio (TTM) of 10.
Because the PE Ratio (TTM) measures how long it takes to earn back the price you pay, the PE Ratio (TTM) can be applied to the stocks across different industries. That is why it is the one of the most important and widely used indicators for the valuation of stocks.
Investors need to be aware that the PE Ratio (TTM) can be misleading a lot of times, especially when the underlying business is cyclical and unpredictable. As Peter Lynch pointed out, cyclical businesses have higher profit margins at the peaks of the business cycles. Their earnings are high and PE Ratio (TTM)s are artificially low. It is usually a bad idea to buy a cyclical business when the PE Ratio (TTM) is low. A better ratio to identify the time to buy a cyclical businesses is the PS Ratio .
PE Ratio (TTM) can also be affected by non-recurring-items such as the sale of part of businesses. This may increase for the current year or quarter dramatically. But it cannot be repeated over and over. Therefore PE Ratio without NRI is a more accurate indication of valuation than PE Ratio (TTM).
Var Energi ASA PE Ratio (TTM) Related Terms
Var Energi ASA PE Ratio (TTM) Historical Data
* Premium members only.
The historical data trend for Var Energi ASA's PE Ratio (TTM) can be seen below:
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
OSL:VAR vs COP, EOG, FANG: PE Ratio (TTM) Comparison
For the Oil & Gas E&P subindustry, Var Energi ASA's PE Ratio (TTM), along with its competitors' market caps and PE Ratio (TTM) data, can be viewed below:
* Competitive companies are chosen from companies within the same industry, with headquarter located in same country, with closest market capitalization; x-axis shows the market cap, and y-axis shows the term value; the bigger the dot, the larger the market cap. Note that "N/A" values will not show up in the chart.
Var Energi ASA PE Ratio (TTM) vs Oil & Gas Industry
For the Oil & Gas industry and Energy sector, Var Energi ASA's PE Ratio (TTM) distribution charts can be found below:
* The bar in red indicates where Var Energi ASA's PE Ratio (TTM) falls into.
The PE Ratio (TTM), or Price-to-Earnings ratio, or P/E Ratio, is a financial ratio used to compare a company's market price to its Earnings per Share (Diluted). It is the most widely used ratio in the valuation of stocks.
Var Energi ASA's PE Ratio (TTM) for today is calculated as
Var Energi ASA's Share Price of today is kr44.40.
Var Energi ASA's Earnings per Share (Diluted) for the trailing twelve months (TTM) ended in Mar. 2026 adds up the quarterly data reported by the company within the most recent 12 months, which was kr2.65.
* For Operating Data section: All numbers are indicated by the unit behind each term and all currency related amount are in USD. * For other sections: All numbers are in millions except for per share data, ratio, and percentage. All currency related amount are indicated in the company's associated stock exchange currency.
It can also be calculated from the numbers for the whole company:
There are at least three kinds of PE Ratio (TTM)s used by different investors. They are Trailing Twelve Month PE Ratio (TTM) or PE Ratio (TTM) (TTM), Forward PE Ratio, or PE Ratio without NRI. A new PE Ratio (TTM) based on inflation-adjusted normalized PE Ratio (TTM) is called Shiller PE Ratio, after Yale professor Robert Shiller.
In the calculation of PE Ratio (TTM), the earnings per share used are the earnings per share over the past 12 months. For Forward PE Ratio, the earnings are the expected earnings for the next twelve months. In the case of PE Ratio without NRI, the reported earnings less the non-recurring items are used.
For Shiller PE Ratio, the earnings of the past 10 years are inflation-adjusted and averaged. Since it looks at the average over the last 10 years, Shiller PE Ratio is also called PE10.
Var Energi ASA (OSL:VAR) has a PE Ratio (TTM) of 16.74 as of Jul. 18, 2026. Trailing 12-month P/E ratio is the ratio of share price to a company's trailing 12-month earnings per share. View historical data on Var Energi ASA and its competitors. This is 29% above median its historical median of 12.95. Over the past decade, Var Energi ASA's PE Ratio (TTM) has ranged from 7.01 to 34.80. According to the industry distribution chart, Var Energi ASA ranks #342 out of 620 companies in the Oil & Gas industry, placing it in the top 55.2%.
Is Var Energi ASA's PE Ratio (TTM) too high?
Var Energi ASA's current PE Ratio (TTM) of 16.74 is 29% above median its 10-year median of 12.95. Over the past 10 years, this metric has ranged from a low of 7.01 to a high of 34.80. The Oil & Gas industry median PE Ratio (TTM) is 14.77. Var Energi ASA's value of 16.74 is 13.3% above this industry median. Based on the distribution chart, Var Energi ASA ranks #342 out of 620 companies in the Oil & Gas industry, which is below the industry midpoint. Overall, Var Energi ASA has a GF Score™ of 81/100 and is considered Fairly Valued, reflecting its overall financial health beyond just this single metric.
How does Var Energi ASA's PE Ratio (TTM) compare to COP and EOG?
According to the Oil & Gas industry distribution chart, Var Energi ASA ranks #342 out of 620 companies for PE Ratio (TTM). This places Var Energi ASA in the lower half of its industry. The industry median PE Ratio (TTM) is 14.77. Var Energi ASA's value of 16.74 is 13.3% above this benchmark. Historically, Var Energi ASA's own PE Ratio (TTM) has ranged from 7.01 to 34.80 over the past decade. While the company's 10-year median is 12.95 vs. the industry median of 14.77, Var Energi ASA has consistently been above the industry average. See the competitive comparison table and distribution chart on this page for a detailed peer-by-peer breakdown.
What is a good PE Ratio (TTM) for an Oil & Gas company?
The median PE Ratio (TTM) among Oil & Gas companies is 14.77, based on 620 companies in the industry. Companies in the top quartile (top 25%) have a PE Ratio (TTM) significantly above this median, while those in the bottom quartile fall well below. However, PE Ratio (TTM) should not be evaluated in isolation — investors should consider it alongside profitability, growth, and financial strength metrics. Var Energi ASA's current PE Ratio (TTM) of 16.74 is 13.3% above the industry median. Use the industry distribution chart on this page to see where any company falls relative to its peers.
What does a high PE Ratio (TTM) mean?
A high PE Ratio (TTM) can signal that a stock is expensive relative to its fundamentals. Trailing 12-month P/E ratio is the ratio of share price to a company's trailing 12-month earnings per share. View historical data on Var Energi ASA and its competitors. For the Oil & Gas industry, the median PE Ratio (TTM) is 14.77 — values significantly above this may indicate overvaluation, while values below may suggest a bargain or underlying issues. Var Energi ASA's current PE Ratio (TTM) is 16.74, which is 29% above median its own 10-year median of 12.95. However, context matters — high-growth companies often justify higher valuations. Always evaluate alongside other metrics like GF Score™ and GF Value™.
Is Var Energi ASA stock overvalued right now?
Based on GuruFocus' analysis, Var Energi ASA (OSL:VAR) is currently considered Fairly Valued. The stock's GF Value™ is kr44.78, compared to a current price of kr44.40 — trading 0.8% below its estimated fair value. The current PE Ratio (TTM) is 16.74, which is 29% above median its 10-year median of 12.95 and 13.3% above the Oil & Gas industry median of 14.77. Var Energi ASA's overall GF Score™ is 81/100 with 4 warning signs to review. Investors should evaluate multiple metrics — including profitability, growth, and financial strength — before making a decision.
How is PE Ratio (TTM) calculated?
PE Ratio (TTM) is calculated from a company's financial statements. For Var Energi ASA (OSL:VAR), the current PE Ratio (TTM) is 16.74 as of Jul. 18, 2026. GuruFocus calculates this using data sourced from SEC filings and annual reports. See the calculation section and 30-year financial data on this page for the full breakdown.
Is Var Energi ASA (OSL:VAR) Overvalued in 2026?
Based on GuruFocus' analysis, Var Energi ASA stock appears to be undervalued.
The current stock price of kr44.40 is trading 0.8% below its estimated GF Value™ of kr44.78.
GuruFocus considers Var Energi ASA to be Fairly Valued.
Key valuation signals for OSL:VAR:
PE Ratio (TTM): 16.74 (29% above median its 10-year median of 12.95)
GF Value™: kr44.78 vs. price of kr44.40 (0.8% below fair value)
Industry Position: 13.3% above the Oil & Gas median (#342 of 620)
No single metric tells the full story. See the OSL:VAR stock analysis page for a complete view including 30-year financials, guru trades, and insider activity.
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).
81GF Score
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PE Ratio (TTM) is just one metric. See GF Value™, 30-year financials, guru trades, warning signs, and more.
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