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Norwegian (OSEAX) Tech Sector Analysis

UpdatedDec 17, 2025
DataAggregated Company Financials
Companies32
  • 7D0.001%
  • 3M-2.1%
  • 1Y25.3%
  • YTD22.0%

The Tech industry is up 1.2% in the last week, with Kitron up 7.5%. This means that the industry has gained 26% over the past year. Looking forward, earnings are forecast to grow by 38% annually.

Sector Valuation and Performance

Has the Norwegian Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Dec 2025NOK 118.6bNOK 76.2bNOK 1.9b39.1x63.3x1.6x
Sat, 15 Nov 2025NOK 112.8bNOK 75.7bNOK 1.8b30x61.6x1.5x
Mon, 13 Oct 2025NOK 114.9bNOK 74.5bNOK 1.8b32.8x65.4x1.5x
Wed, 10 Sep 2025NOK 115.0bNOK 74.4bNOK 1.7b34.4x66.8x1.5x
Fri, 08 Aug 2025NOK 110.7bNOK 74.0bNOK 1.2b37.3x96x1.5x
Sun, 06 Jul 2025NOK 124.8bNOK 80.0bNOK 1.4b39.6x88x1.6x
Tue, 03 Jun 2025NOK 115.6bNOK 79.8bNOK 1.4b36.4x82.3x1.4x
Thu, 01 May 2025NOK 102.3bNOK 79.5bNOK 1.3b33.9x77.3x1.3x
Sat, 29 Mar 2025NOK 101.8bNOK 77.6bNOK 1.1b31.9x96.8x1.3x
Mon, 24 Feb 2025NOK 108.6bNOK 78.2bNOK 941.1m30.8x115.4x1.4x
Wed, 22 Jan 2025NOK 99.8bNOK 76.8bNOK 795.6m33.3x125.4x1.3x
Fri, 20 Dec 2024NOK 96.3bNOK 76.9bNOK 785.1m33.2x122.6x1.3x
Sun, 17 Nov 2024NOK 94.3bNOK 76.6bNOK 811.6m31.7x116.2x1.2x
Tue, 15 Oct 2024NOK 105.2bNOK 80.9bNOK 709.3m34.7x148.3x1.3x
Thu, 12 Sep 2024NOK 110.2bNOK 81.2bNOK 691.4m33x159.4x1.4x
Sat, 10 Aug 2024NOK 109.5bNOK 80.4bNOK 821.0m25.2x133.4x1.4x
Mon, 08 Jul 2024NOK 115.7bNOK 82.9bNOK 1.6b20.6x73.8x1.4x
Wed, 05 Jun 2024NOK 109.4bNOK 82.9bNOK 1.6b20.2x70x1.3x
Fri, 03 May 2024NOK 103.6bNOK 82.5bNOK 1.3b22.7x80.8x1.3x
Sun, 31 Mar 2024NOK 95.1bNOK 84.4bNOK 1.6b22.3x59.3x1.1x
Tue, 27 Feb 2024NOK 94.7bNOK 84.5bNOK 1.6b20.6x61.1x1.1x
Thu, 25 Jan 2024NOK 107.7bNOK 86.0bNOK 948.4m18.9x113.6x1.3x
Sat, 23 Dec 2023NOK 105.2bNOK 85.7bNOK 938.4m17.2x112.1x1.2x
Mon, 20 Nov 2023NOK 104.2bNOK 87.8b-NOK 65,728,906.0017.1x-1584.9x1.2x
Wed, 18 Oct 2023NOK 107.0bNOK 87.6bNOK 4.7m18.5x22529.2x1.2x
Fri, 15 Sep 2023NOK 110.1bNOK 87.6b-NOK 24,113,004.0021x-4567.6x1.3x
Sun, 13 Aug 2023NOK 119.9bNOK 85.7b-NOK 291,149,748.0023.3x-411.9x1.4x
Tue, 11 Jul 2023NOK 116.4bNOK 84.5b-NOK 318,607,683.0021.6x-365.3x1.4x
Thu, 08 Jun 2023NOK 120.1bNOK 85.1b-NOK 396,003,770.0022.8x-303.3x1.4x
Sat, 06 May 2023NOK 110.7bNOK 83.3bNOK 42.9m22.6x2583.1x1.3x
Mon, 03 Apr 2023NOK 116.7bNOK 80.9b-NOK 386,085,906.0024.6x-302.2x1.4x
Wed, 01 Mar 2023NOK 114.5bNOK 80.7b-NOK 289,750,334.0025x-395x1.4x
Fri, 27 Jan 2023NOK 116.0bNOK 111.8bNOK 327.3m26.1x354.5x1x
Sun, 25 Dec 2022NOK 113.2bNOK 111.8bNOK 327.2m25.6x346x1x
Price to Earnings Ratio

346x


Total Market Cap: NOK 113.2bTotal Earnings: NOK 327.2mTotal Revenue: NOK 111.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 289x202320242025
Current Industry PE
  • Investors are pessimistic on the Norwegian Information Technology industry, indicating that they anticipate long term growth rates will be lower than they have historically.
  • The industry is trading at a PE ratio of 63.9x which is lower than its 3-year average PE of 290x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 79% per year over the last three years.
  • Meanwhile revenues for these companies have declined 12% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Norwegian Tech sector?

NO Market-0.41%
Tech0.0014%
Tech Hardware4.41%
IT3.03%
Software1.96%
Communications1.67%
Electronic Equipment and Components-1.49%
Semiconductors-3.79%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 358x.
    • Analysts are expecting annual earnings growth of 52.1% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 55% over the next 5 years.
  • This is better than its past earnings growth rate of 28% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 17% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
ATEA AteaNOK 160.403.6%
+NOK 624.0m		17.3%PE22.4x
APR AppearNOK 85.6111.0%
+NOK 345.5m		n/an/a
KIT KitronNOK 67.352.0%
+NOK 292.1m		101.0%PE38.6x
BOUV BouvetNOK 62.602.5%
+NOK 154.4m		-17.8%PE16.8x
LOKO Lokotech GroupNOK 0.8519.7%
+NOK 88.1m		-53.4%PS59.8x

Latest News

BOUV
NOK 62.60
Bouvet
7D
2.5%
1Y
-17.8%
ITERA
NOK 8.50
Itera
7D
6.3%
1Y
-5.6%
TECH
NOK 13.50
Techstep
7D
9.8%
1Y
1.9%

What Techstep ASA's (OB:TECH) P/S Is Not Telling You

Dec 17
What Techstep ASA's (OB:TECH) P/S Is Not Telling You
NOD
NOK 128.80
Nordic Semiconductor
7D
-0.8%
1Y
23.0%
ELABS
NOK 6.15
Elliptic Laboratories
7D
-2.7%
1Y
-41.7%
SMOP
NOK 28.00
Smartoptics Group
7D
-1.4%
1Y
49.3%
LINK
NOK 32.00
LINK Mobility Group Holding
7D
0.8%
1Y
36.2%

LINK: Higher Margins Are Expected To Drive Stronger Future Earnings Potential

Analysts have lifted their price target on LINK Mobility Group Holding from NOK 29.00 to NOK 40.00, citing expectations of faster revenue growth, higher profit margins, and a modestly lower discount rate that together support a richer future earnings multiple. Valuation Changes Fair Value: The price target was increased significantly from NOK 29.00 to NOK 40.00, implying a notably higher assessed equity value.
XPLRA
NOK 51.40
Xplora Technologies
7D
-9.2%
1Y
63.2%

XPLRA: Subscription Momentum Will Support Moderately Stronger Profitability Expectations Ahead

Analysts have raised their price target on Xplora Technologies from $48.50 to $55.50, citing expectations of stronger long term profitability and a slightly lower valuation multiple, despite moderating revenue growth and a marginally higher discount rate. What's in the News Reported a subscriptions update for October 2025, adding 15,000 gross new subscriptions and reaching 446,000 total subscriptions, up 118,000 from October 2024 (company announcement) Previously disclosed a subscriptions update for September 2025, adding 22,000 gross new subscriptions and reaching 443,000 total subscriptions, up 116,000 from September 2024 (company announcement) Scheduled an Analyst and Investor Day focused on third quarter 2025 financial results and a broader Capital Markets Update (company announcement) Valuation Changes Fair Value: Raised from NOK 48.50 to NOK 55.50, reflecting a moderate upward revision in the analyst price target.
KIT
NOK 67.35
Kitron
7D
2.0%
1Y
101.0%
NORBT
NOK 172.00
Norbit
7D
-4.0%
1Y
83.0%

Estimating The Intrinsic Value Of Norbit ASA (OB:NORBT)

Dec 10
Estimating The Intrinsic Value Of Norbit ASA (OB:NORBT)
AIRX
NOK 0.11
Airthings
7D
-29.8%
1Y
-95.2%
ATEA
NOK 160.40
Atea
7D
3.6%
1Y
17.3%
APR
NOK 85.61
Appear
7D
11.0%
1Y
n/a
NAPA
NOK 30.30
Napatech
7D
-6.8%
1Y
26.3%
LOKO
NOK 0.85
Lokotech Group
7D
19.7%
1Y
-53.4%
RECSI
NOK 1.08
REC Silicon
7D
-10.0%
1Y
-57.6%