Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Norwegian (OSEAX) Tech Sector Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies32
  • 7D-5.3%
  • 3M0.7%
  • 1Y25.3%
  • YTD22.6%

Over the last 7 days, the Tech industry has dropped 4.7%, driven by a pullback from Nordic Semiconductor of 11%. Over the past 12 months, the industry was up 27%. Looking forward, earnings are forecast to grow by 37% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025NOK 117.4bNOK 75.6bNOK 1.8b34.6x65.3x1.6x
Sat, 04 Oct 2025NOK 114.1bNOK 74.3bNOK 1.8b32.5x65x1.5x
Mon, 01 Sep 2025NOK 116.8bNOK 74.5bNOK 1.7b34.5x67.8x1.6x
Wed, 30 Jul 2025NOK 112.6bNOK 73.9bNOK 1.2b37.9x97.7x1.5x
Fri, 27 Jun 2025NOK 123.7bNOK 80.0bNOK 1.4b39.3x87.3x1.5x
Sun, 25 May 2025NOK 113.7bNOK 79.5bNOK 1.5b36.6x75.8x1.4x
Tue, 22 Apr 2025NOK 100.4bNOK 78.0bNOK 1.1b32.8x93.1x1.3x
Thu, 20 Mar 2025NOK 104.5bNOK 77.8bNOK 1.0b32.5x99.7x1.3x
Sat, 15 Feb 2025NOK 105.6bNOK 78.0bNOK 1.1b26.1x97.9x1.4x
Mon, 13 Jan 2025NOK 98.2bNOK 76.0bNOK 739.2m37.8x132.9x1.3x
Wed, 11 Dec 2024NOK 97.2bNOK 76.7bNOK 806.5m33.7x120.5x1.3x
Fri, 08 Nov 2024NOK 99.7bNOK 77.7bNOK 746.5m27.4x133.6x1.3x
Sun, 06 Oct 2024NOK 103.9bNOK 80.9bNOK 713.7m33.1x145.6x1.3x
Tue, 03 Sep 2024NOK 114.7bNOK 80.9bNOK 721.1m34.4x159.1x1.4x
Thu, 01 Aug 2024NOK 115.8bNOK 82.4bNOK 1.4b21.3x81.8x1.4x
Sat, 29 Jun 2024NOK 113.5bNOK 83.0bNOK 1.6b20.9x72.5x1.4x
Mon, 27 May 2024NOK 110.8bNOK 83.0bNOK 1.6b20.6x70.4x1.3x
Wed, 24 Apr 2024NOK 94.0bNOK 84.5bNOK 1.6b22x59.5x1.1x
Fri, 22 Mar 2024NOK 93.6bNOK 85.0bNOK 1.7b20.8x56.2x1.1x
Sun, 18 Feb 2024NOK 97.8bNOK 84.4bNOK 1.7b20.4x56.2x1.2x
Tue, 16 Jan 2024NOK 103.7bNOK 85.9bNOK 944.5m17.4x109.8x1.2x
Thu, 14 Dec 2023NOK 102.0bNOK 86.7bNOK 970.6m16.5x105.1x1.2x
Sat, 11 Nov 2023NOK 100.5bNOK 88.0b-NOK 76,369,632.0016.4x-1315.9x1.1x
Mon, 09 Oct 2023NOK 103.3bNOK 87.6bNOK 8.0m17.2x12838.8x1.2x
Wed, 06 Sep 2023NOK 112.4bNOK 87.4b-NOK 23,869,224.0021.7x-4708.8x1.3x
Fri, 04 Aug 2023NOK 120.3bNOK 85.2b-NOK 392,637,551.0021.6x-306.4x1.4x
Sun, 02 Jul 2023NOK 119.3bNOK 84.8b-NOK 317,588,390.0021.6x-375.7x1.4x
Tue, 30 May 2023NOK 116.6bNOK 85.3b-NOK 371,968,295.0022x-313.4x1.4x
Thu, 27 Apr 2023NOK 105.3bNOK 80.7b-NOK 217,553,905.0023.6x-483.9x1.3x
Sat, 25 Mar 2023NOK 111.6bNOK 80.9b-NOK 387,619,863.0023.2x-288x1.4x
Mon, 20 Feb 2023NOK 115.4bNOK 80.7b-NOK 178,675,039.0026.1x-646.1x1.4x
Wed, 18 Jan 2023NOK 114.8bNOK 111.8bNOK 328.7m25.9x349.2x1x
Fri, 16 Dec 2022NOK 117.6bNOK 111.8bNOK 327.5m25.6x358.9x1.1x
Sun, 13 Nov 2022NOK 119.5bNOK 111.5bNOK 605.9m23.9x197.3x1.1x
Price to Earnings Ratio

197.3x


Total Market Cap: NOK 119.5bTotal Earnings: NOK 605.9mTotal Revenue: NOK 111.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 296.5x202320242025
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 65.1x which is lower than its 3-year average PE of 297x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 44% 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-1.50%
Tech-5.26%
IT-1.95%
Software-2.55%
Electronic Equipment and Components-4.39%
Communications-5.62%
Tech Hardware-6.77%
Semiconductors-10.75%
Industry PE
  • Investors are most optimistic about the Semiconductors industry which is trading above its 3-year average PE ratio of 342x.
    • Analysts are expecting annual earnings growth of 51.1% 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 22% 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
XPLRA Xplora TechnologiesNOK 46.404.3%
+NOK 85.0m		72.5%PS1.6x
PLT poLightNOK 7.535.2%
+NOK 78.7m		95.6%PS122.6x
LINK LINK Mobility Group HoldingNOK 30.000.3%
+NOK 28.4m		23.5%PE78.4x
ELABS Elliptic LaboratoriesNOK 10.042.4%
+NOK 25.3m		-2.0%PS8.3x
STRO StrongPointNOK 10.052.6%
+NOK 11.2m		1.7%PE123.2x

Latest News

NOD
NOK 139.00
Nordic Semiconductor
7D
-10.8%
1Y
33.1%
SMCRT
NOK 23.60
SmartCraft
7D
-11.6%
1Y
-18.3%

Are Investors Undervaluing SmartCraft ASA (OB:SMCRT) By 38%?

Nov 05
Are Investors Undervaluing SmartCraft ASA (OB:SMCRT) By 38%?
PLT
NOK 7.53
poLight
7D
5.2%
1Y
95.6%
SMOP
NOK 27.40
Smartoptics Group
7D
-9.6%
1Y
47.3%
ATEA
NOK 150.60
Atea
7D
-1.6%
1Y
9.6%

Atea's (OB:ATEA) Dividend Will Be NOK3.50

Oct 29
Atea's (OB:ATEA) Dividend Will Be NOK3.50
LINK
NOK 30.00
LINK Mobility Group Holding
7D
0.3%
1Y
23.5%
KIT
NOK 72.50
Kitron
7D
-4.9%
1Y
139.4%

Defence and Aerospace Demand Will Accelerate Revenue and Earnings Through 2026

Narrative Update: Kitron Analyst Price Target Revision Analysts have raised their fair value estimate for Kitron from NOK 65 to approximately NOK 69.26, citing expectations for stronger revenue growth and profitability improvements. What's in the News Kitron ASA revised its 2025 earnings guidance and now expects revenue between EUR 700 and 740 million as well as operating profit (EBIT) between EUR 59 and 66 million.
STRO
NOK 10.05
StrongPoint
7D
2.6%
1Y
1.7%
ELABS
NOK 10.04
Elliptic Laboratories
7D
2.4%
1Y
-2.0%

Analysts Lower Elliptic Labs Price Target Amid Moderated Growth and Evolving Product Partnerships

Analysts have lowered their price target for Elliptic Laboratories from $18.50 to $16.00, citing moderated expectations for revenue growth and profit margins in upcoming periods. What's in the News Elliptic Labs shipped its AI Virtual Smart Sensor Platform on nine smartphone models in September 2025, reaching 54 smartphone models launched for the year to date (Client Announcements).
XPLRA
NOK 46.40
Xplora Technologies
7D
4.3%
1Y
72.5%
BOUV
NOK 63.70
Bouvet
7D
-2.9%
1Y
-8.6%
PEXIP
NOK 61.70
Pexip Holding
7D
-2.1%
1Y
45.5%
CYVIZ
NOK 37.80
Cyviz
7D
2.2%
1Y
22.7%
NORBT
NOK 196.60
Norbit
7D
-6.6%
1Y
110.5%

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.
AIX
NOK 4.36
Ayfie International
7D
6.3%
1Y
-27.8%
OTEC
NOK 15.30
Otello
7D
0.7%
1Y
94.7%