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Norwegian (OSEAX) Tech Sector Analysis

UpdatedAug 29, 2025
DataAggregated Company Financials
Companies32
  • 7D0.6%
  • 3M11.3%
  • 1Y15.3%
  • YTD28.7%

The Tech is pretty flat in the last 7 days, but Norbit has stood out, gaining 6.6%. The past year has been better, since the industry has gained 23% in that time. Looking forward, earnings are forecast to grow by 33% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 29 Aug 2025NOK 116.8bNOK 74.5bNOK 1.7b34.4x67.4x1.6x
Sun, 27 Jul 2025NOK 111.2bNOK 74.0bNOK 1.2b38.6x96.2x1.5x
Tue, 24 Jun 2025NOK 122.0bNOK 79.9bNOK 1.4b38.6x86.3x1.5x
Thu, 22 May 2025NOK 115.1bNOK 79.5bNOK 1.3b38.4x88.1x1.4x
Sat, 19 Apr 2025NOK 100.4bNOK 78.0bNOK 1.1b32.8x93.5x1.3x
Mon, 17 Mar 2025NOK 102.6bNOK 77.9bNOK 1.0b31.2x98.3x1.3x
Wed, 12 Feb 2025NOK 104.8bNOK 78.3bNOK 768.7m36.6x136.4x1.3x
Fri, 10 Jan 2025NOK 98.9bNOK 76.8bNOK 786.4m32.8x125.8x1.3x
Sun, 08 Dec 2024NOK 96.5bNOK 76.7bNOK 808.5m33.3x119.3x1.3x
Tue, 05 Nov 2024NOK 102.3bNOK 77.8bNOK 693.9m28.3x147.4x1.3x
Thu, 03 Oct 2024NOK 104.3bNOK 80.9bNOK 719.7m31.4x144.9x1.3x
Sat, 31 Aug 2024NOK 116.5bNOK 80.9bNOK 727.7m35.7x160.1x1.4x
Mon, 29 Jul 2024NOK 113.3bNOK 82.6bNOK 1.4b20.7x79.8x1.4x
Wed, 26 Jun 2024NOK 111.5bNOK 82.9bNOK 1.6b21.1x71.2x1.3x
Fri, 24 May 2024NOK 110.8bNOK 83.1bNOK 1.6b20.9x70.3x1.3x
Sun, 21 Apr 2024NOK 92.6bNOK 84.6bNOK 1.6b22.2x58.5x1.1x
Tue, 19 Mar 2024NOK 92.1bNOK 85.0bNOK 1.7b20.4x55.4x1.1x
Thu, 15 Feb 2024NOK 97.0bNOK 83.1bNOK 1.6b18.5x61.2x1.2x
Sat, 13 Jan 2024NOK 104.5bNOK 85.8bNOK 940.3m17.3x111.2x1.2x
Mon, 11 Dec 2023NOK 101.0bNOK 86.6bNOK 968.0m16.7x104.3x1.2x
Wed, 08 Nov 2023NOK 99.6bNOK 87.7b-NOK 189,211,394.0017.3x-526.6x1.1x
Fri, 06 Oct 2023NOK 103.2bNOK 87.6bNOK 3.3m17.5x31655.9x1.2x
Sun, 03 Sep 2023NOK 114.2bNOK 87.4b-NOK 21,355,848.0022.8x-5346.9x1.3x
Tue, 01 Aug 2023NOK 122.3bNOK 85.1b-NOK 383,509,531.0021.4x-318.8x1.4x
Thu, 29 Jun 2023NOK 115.0bNOK 84.9b-NOK 319,646,853.0021.1x-359.9x1.4x
Sat, 27 May 2023NOK 116.6bNOK 85.2b-NOK 428,900,190.0022.8x-271.8x1.4x
Mon, 24 Apr 2023NOK 106.6bNOK 80.6b-NOK 213,533,663.0022.8x-499.4x1.3x
Wed, 22 Mar 2023NOK 112.7bNOK 81.0b-NOK 373,992,794.0023.6x-301.3x1.4x
Fri, 17 Feb 2023NOK 115.2bNOK 80.3bNOK 206.3m25.2x558.7x1.4x
Sun, 15 Jan 2023NOK 115.7bNOK 111.8bNOK 329.4m25.1x351.1x1x
Tue, 13 Dec 2022NOK 117.2bNOK 111.8bNOK 412.6m24.7x284.1x1x
Thu, 10 Nov 2022NOK 117.7bNOK 111.4bNOK 591.4m24x199x1.1x
Sat, 08 Oct 2022NOK 103.9bNOK 107.8bNOK 107.7m22.9x964.4x1x
Mon, 05 Sep 2022NOK 110.7bNOK 107.1bNOK 133.7m24x828.4x1x
Price to Earnings Ratio

828.4x


Total Market Cap: NOK 110.7bTotal Earnings: NOK 133.7mTotal Revenue: NOK 107.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 344.2x202320242025
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 61.8x which is lower than its 3-year average PE of 345x.
  • 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 142% per year over the last three years.
  • Meanwhile revenues for these companies have declined 11% 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-0.88%
Tech0.62%
Communications6.74%
Semiconductors3.60%
Software0.84%
Electronic Equipment and Components0.66%
Tech Hardware0.55%
IT-4.26%
Industry PE
  • Investors are most optimistic about the Semiconductors industry even though it's trading below its 3-year average PE ratio of 326x.
    • Analysts are expecting annual earnings growth of 41.3% 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 56% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 19% 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
NOD Nordic SemiconductorNOK 168.303.7%
+NOK 1.1b		18.4%PE234.3x
PEXIP Pexip HoldingNOK 67.006.9%
+NOK 440.6m		87.7%PE39.1x
NORBT NorbitNOK 200.002.7%
+NOK 331.6m		118.6%PE35.2x
SMOP Smartoptics GroupNOK 18.809.6%
+NOK 161.8m		4.4%PE55.4x
NAPA NapatechNOK 22.506.6%
+NOK 155.2m		-33.8%PS12.4x

Latest News

SMCRT
NOK 26.90
SmartCraft
7D
1.5%
1Y
-10.3%

Earnings Miss: SmartCraft ASA Missed EPS By 6.4% And Analysts Are Revising Their Forecasts

Aug 29
Earnings Miss: SmartCraft ASA Missed EPS By 6.4% And Analysts Are Revising Their Forecasts
LINK
NOK 32.60
LINK Mobility Group Holding
7D
-2.7%
1Y
49.5%

LINK Mobility Group Holding's (OB:LINK) Conservative Accounting Might Explain Soft Earnings

Aug 28
LINK Mobility Group Holding's (OB:LINK) Conservative Accounting Might Explain Soft Earnings
BOUV
NOK 68.10
Bouvet
7D
-7.6%
1Y
-1.7%

What Bouvet ASA's (OB:BOUV) P/E Is Not Telling You

Aug 28
What Bouvet ASA's (OB:BOUV) P/E Is Not Telling You
NAPA
NOK 22.50
Napatech
7D
6.6%
1Y
-33.8%
XPLRA
NOK 52.00
Xplora Technologies
7D
-1.9%
1Y
242.1%
HDLY
NOK 11.60
Huddly
7D
-7.2%
1Y
-83.1%
ATEA
NOK 140.60
Atea
7D
-3.0%
1Y
-0.8%

Frame Agreements In Denmark And Finland Will Drive AI Investment

Atea’s consensus price target has increased to NOK170.00, primarily reflecting a higher expected future P/E, while profit margins remain stable. What's in the News Atea ASA commenced a share repurchase program authorized by shareholders, allowing buybacks of up to NOK 10 million nominal value until the next AGM or June 30, 2026, with a price range of NOK 1–250 per share.
PEXIP
NOK 67.00
Pexip Holding
7D
6.9%
1Y
87.7%

We Think Pexip Holding's (OB:PEXIP) Robust Earnings Are Conservative

Aug 23
We Think Pexip Holding's (OB:PEXIP) Robust Earnings Are Conservative
CYVIZ
NOK 34.90
Cyviz
7D
-5.4%
1Y
10.1%
NOD
NOK 168.30
Nordic Semiconductor
7D
3.7%
1Y
18.4%
NORBT
NOK 200.00
Norbit
7D
2.7%
1Y
118.6%

Innomar Acquisition And GNSS Unit Will Expand Market Opportunities

The significant upward revision in Norbit’s analyst price target is primarily driven by a notable increase in net profit margin, which has outweighed a slight moderation in consensus revenue growth forecasts, resulting in a new fair value estimate of NOK240.00. Valuation Changes Summary of Valuation Changes for Norbit The Consensus Analyst Price Target has significantly risen from NOK152.70 to NOK240.00.
PLT
NOK 5.43
poLight
7D
3.4%
1Y
21.1%

We're Not Very Worried About poLight's (OB:PLT) Cash Burn Rate

Aug 15
We're Not Very Worried About poLight's (OB:PLT) Cash Burn Rate
AIRX
NOK 0.21
Airthings
7D
-71.9%
1Y
-91.9%
SPIR
NOK 9.90
Spir Group
7D
-5.7%
1Y
28.2%
SMOP
NOK 18.80
Smartoptics Group
7D
9.6%
1Y
4.4%
LOKO
NOK 0.71
Lokotech Group
7D
-3.0%
1Y
-8.5%