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Norwegian (OSEAX) Tech Sector Analysis

UpdatedMar 06, 2026
DataAggregated Company Financials
Companies31
  • 7D1.2%
  • 3M5.2%
  • 1Y26.6%
  • YTD2.3%

Over the last 7 days, the Tech industry has remained flat, although notably Nordic Semiconductor gained 3.2%. The past year has been better, since the industry has gained 27% in that time. Looking forward, earnings are forecast to grow by 27% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Mar 2026NOK 124.7bNOK 77.5bNOK 2.5b25.6x49.5x1.6x
Sun, 01 Feb 2026NOK 121.8bNOK 76.1bNOK 2.0b36x61.5x1.6x
Tue, 30 Dec 2025NOK 121.7bNOK 76.0bNOK 1.9b41.1x65.1x1.6x
Thu, 27 Nov 2025NOK 110.7bNOK 75.8bNOK 1.9b32x59.7x1.5x
Sat, 25 Oct 2025NOK 119.5bNOK 75.1bNOK 1.8b35.3x65.1x1.6x
Mon, 22 Sep 2025NOK 117.7bNOK 74.4bNOK 1.8b34.8x67.1x1.6x
Wed, 20 Aug 2025NOK 116.8bNOK 75.0bNOK 1.5b35.5x79.7x1.6x
Fri, 18 Jul 2025NOK 115.3bNOK 74.1bNOK 1.2b38.6x100.2x1.6x
Sun, 15 Jun 2025NOK 121.9bNOK 79.6bNOK 1.4b39.1x86.2x1.5x
Tue, 13 May 2025NOK 110.9bNOK 79.5bNOK 1.3b31.2x87.4x1.4x
Thu, 10 Apr 2025NOK 93.4bNOK 78.1bNOK 1.1b28.8x88.9x1.2x
Sat, 08 Mar 2025NOK 102.5bNOK 78.1bNOK 957.8m28.8x107x1.3x
Mon, 03 Feb 2025NOK 101.0bNOK 76.8bNOK 792.8m37.6x127.4x1.3x
Wed, 01 Jan 2025NOK 97.1bNOK 76.8bNOK 789.0m34.1x123x1.3x
Fri, 29 Nov 2024NOK 95.1bNOK 76.6bNOK 818.1m33.6x116.3x1.2x
Sun, 27 Oct 2024NOK 102.1bNOK 77.7bNOK 602.2m28.7x169.5x1.3x
Tue, 24 Sep 2024NOK 114.3bNOK 80.8bNOK 730.9m32.7x156.4x1.4x
Thu, 22 Aug 2024NOK 112.8bNOK 80.4bNOK 951.8m28.1x118.5x1.4x
Sat, 20 Jul 2024NOK 116.8bNOK 82.5bNOK 1.4b20.4x82.3x1.4x
Mon, 17 Jun 2024NOK 113.3bNOK 83.0bNOK 1.6b20.9x72.3x1.4x
Wed, 15 May 2024NOK 108.9bNOK 83.2bNOK 1.6b20.3x68.6x1.3x
Fri, 12 Apr 2024NOK 94.4bNOK 84.3bNOK 1.6b22.5x59.8x1.1x
Sun, 10 Mar 2024NOK 92.6bNOK 84.5bNOK 1.6b20.8x56.5x1.1x
Tue, 06 Feb 2024NOK 93.3bNOK 83.1bNOK 1.8b19.8x51.7x1.1x
Thu, 04 Jan 2024NOK 103.2bNOK 85.9bNOK 942.9m17.4x109.4x1.2x
Sat, 02 Dec 2023NOK 98.0bNOK 86.3bNOK 946.1m16.7x103.5x1.1x
Mon, 30 Oct 2023NOK 95.9bNOK 87.4b-NOK 260,730,945.0018.4x-367.7x1.1x
Wed, 27 Sep 2023NOK 104.6bNOK 87.6b-NOK 33,564,108.0018.2x-3115.9x1.2x
Fri, 25 Aug 2023NOK 112.1bNOK 86.7b-NOK 95,964,279.0021.8x-1167.7x1.3x
Sun, 23 Jul 2023NOK 119.1bNOK 85.1b-NOK 377,423,589.0020.8x-315.6x1.4x
Tue, 20 Jun 2023NOK 122.6bNOK 84.7b-NOK 379,513,903.0024.3x-323x1.4x
Thu, 18 May 2023NOK 112.9bNOK 84.3b-NOK 171,771,329.0024.9x-657.4x1.3x
Sat, 15 Apr 2023NOK 115.9bNOK 80.8b-NOK 397,033,946.0024.1x-291.8x1.4x
Mon, 13 Mar 2023NOK 115.9bNOK 81.0b-NOK 368,419,958.0023.6x-314.6x1.4x
Price to Earnings Ratio

-314.6x


Total Market Cap: NOK 115.9bTotal Earnings: -NOK 368,419,958.00Total Revenue: NOK 81.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 281.1x202420252026
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 49.7x which is lower than its 3-year average PE of 281x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • Total earnings for the Information Technology industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Trends

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

NO Market1.88%
Tech1.19%
Software3.56%
Semiconductors3.05%
IT0.098%
Communications-0.019%
Electronic Equipment and Components-0.12%
Tech Hardware-0.93%
Industry PE
  • Investors are most optimistic about the Semiconductors industry even though it's trading below its 3-year average PE ratio of 381x.
    • Analysts are expecting annual earnings growth of 36.7% and investors are willing to pay a premium for that growth.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 37% over the next 5 years.
  • In contrast, the IT industry is expected to see its earnings grow by 13% 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 143.603.2%
+NOK 854.3m		8.5%PE180x
LINK LINK Mobility Group HoldingNOK 22.657.6%
+NOK 463.5m		10.0%PE75.3x
NAPA NapatechNOK 34.705.8%
+NOK 212.1m		87.6%PS17.4x
PEXIP Pexip HoldingNOK 62.702.8%
+NOK 177.4m		52.4%PE26.4x
BOUV BouvetNOK 50.603.0%
+NOK 149.9m		-29.8%PE13.7x

Latest News

ELABS
NOK 3.35
Elliptic Laboratories
7D
-15.6%
1Y
-66.4%
NOD
NOK 143.60
Nordic Semiconductor
7D
3.2%
1Y
8.5%
NAPA
NOK 34.70
Napatech
7D
5.8%
1Y
87.6%
SMCRT
NOK 17.00
SmartCraft
7D
3.7%
1Y
-36.1%

AI Workflow Adoption And New Markets Will Drive This Construction Software Specialist Forward

Catalysts About SmartCraft SmartCraft provides software solutions that help smaller construction and property management companies plan work, communicate and run projects more efficiently. What are the underlying business or industry changes driving this perspective?
PEXIP
NOK 62.70
Pexip Holding
7D
2.8%
1Y
52.4%
ATEA
NOK 143.40
Atea
7D
-0.7%
1Y
6.4%

ATEA: High Dividend And New Tradebroker Contract Will Drive Upside

Narrative update on Atea The analyst price target for Atea is held at NOK 165, with modest adjustments to the discount rate, revenue growth assumptions, profit margin outlook and future P/E to reflect analysts' refreshed views on the company’s risk profile and earnings potential. What's in the News The Board plans to propose to the 2026 AGM an annual dividend of NOK 7.50 per share for 2025, representing a payout of about 95% of net profit after tax, citing higher profit, strong cash flow and a healthy balance sheet (company announcement).
PLT
NOK 5.90
poLight
7D
-10.2%
1Y
118.5%
XPLRA
NOK 57.20
Xplora Technologies
7D
2.1%
1Y
90.7%

XPLRA: Subscription Gains And Margin Outlook Will Support Balanced Return Expectations

Analysts have kept their NOK 55.50 price target for Xplora Technologies unchanged. They point to updated assumptions around a slightly higher discount rate, revenue growth of 18.09%, a profit margin of 8.71% and a lower future P/E of 14.32x to support their view.
SMOP
NOK 37.00
Smartoptics Group
7D
-2.9%
1Y
79.6%

SMOP: Future Margin Strength And DWDM Wins Will Drive Repricing

Analysts have lifted their price target for Smartoptics Group from around NOK 24 to roughly NOK 50, citing updated assumptions for revenue growth, profit margins, the discount rate, and a higher future P/E multiple. What's in the News Teraco, a Digital Realty company in South Africa, has deployed redundant 100G DWDM links between its CT1 and CT2 Cape Town data centers using Smartoptics equipment, aiming to support cloud, content, connectivity and financial ecosystems along a high demand bandwidth corridor (Client announcement).
LINK
NOK 22.65
LINK Mobility Group Holding
7D
7.6%
1Y
10.0%

LINK: Cash Generation And Measured P/E Will Frame Balanced Return Potential

Analysts have revised their price target for LINK Mobility Group Holding from NOK 40 to NOK 21, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Management reports NOK 400 million in free cash flow, with CEO Thomas Berge highlighting strong cash conversion across the business as a support for ongoing capital allocation plans (Key Developments).
APR
NOK 64.88
Appear
7D
-4.0%
1Y
n/a
ENSU
NOK 0.71
Ensurge Micropower
7D
-4.1%
1Y
-36.2%
WSTEP
NOK 17.40
Webstep
7D
-4.9%
1Y
-22.3%
BOUV
NOK 50.60
Bouvet
7D
3.0%
1Y
-29.8%
RECSI
NOK 0.43
REC Silicon
7D
35.6%
1Y
-60.9%
OTEC
NOK 17.60
Otello
7D
-1.4%
1Y
141.1%