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

Norwegian (OSEAX) Tech Sector Analysis

UpdatedFeb 19, 2026
DataAggregated Company Financials
Companies31
  • 7D1.0%
  • 3M8.0%
  • 1Y18.0%
  • YTD0.1%

Over the last 7 days, the Tech industry has remained flat, although notably Kitron gained 23%. As for the the longer term, the industry is up 18% over the past 12 months. Looking forward, earnings are forecast to grow by 28% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 19 Feb 2026NOK 122.2bNOK 77.6bNOK 2.5b29.2x48.3x1.6x
Sat, 17 Jan 2026NOK 124.3bNOK 75.9bNOK 1.9b40.6x66.6x1.6x
Mon, 15 Dec 2025NOK 120.3bNOK 76.1bNOK 1.9b39.4x64.2x1.6x
Wed, 12 Nov 2025NOK 113.5bNOK 75.5bNOK 1.9b30.7x61.1x1.5x
Fri, 10 Oct 2025NOK 113.7bNOK 74.4bNOK 1.8b32.6x64.8x1.5x
Sun, 07 Sep 2025NOK 113.9bNOK 74.5bNOK 1.7b34.1x66.1x1.5x
Tue, 05 Aug 2025NOK 110.9bNOK 74.0bNOK 1.2b38x96.4x1.5x
Thu, 03 Jul 2025NOK 123.1bNOK 80.0bNOK 1.4b38.5x86.8x1.5x
Sat, 31 May 2025NOK 115.8bNOK 79.9bNOK 1.4b36.5x82.6x1.4x
Mon, 28 Apr 2025NOK 103.8bNOK 77.9bNOK 1.1b35.4x98x1.3x
Wed, 26 Mar 2025NOK 103.2bNOK 77.6bNOK 1.0b32.2x98.4x1.3x
Fri, 21 Feb 2025NOK 107.9bNOK 78.2bNOK 900.5m30.1x119.8x1.4x
Sun, 19 Jan 2025NOK 98.8bNOK 76.9bNOK 782.3m32.8x126.3x1.3x
Tue, 17 Dec 2024NOK 97.2bNOK 76.7bNOK 807.3m33.3x120.4x1.3x
Thu, 14 Nov 2024NOK 93.5bNOK 76.6bNOK 761.7m27.8x122.7x1.2x
Sat, 12 Oct 2024NOK 105.3bNOK 80.9bNOK 709.3m34.7x148.4x1.3x
Mon, 09 Sep 2024NOK 110.1bNOK 81.1bNOK 702.4m33.4x156.7x1.4x
Wed, 07 Aug 2024NOK 110.4bNOK 82.5bNOK 1.4b20.6x77.7x1.3x
Fri, 05 Jul 2024NOK 113.6bNOK 82.9bNOK 1.6b20.3x72.5x1.4x
Sun, 02 Jun 2024NOK 111.8bNOK 82.8bNOK 1.6b20.5x71.7x1.4x
Tue, 30 Apr 2024NOK 102.1bNOK 82.5bNOK 1.2b20.9x85.2x1.2x
Thu, 28 Mar 2024NOK 95.7bNOK 85.1bNOK 1.7b21x57.4x1.1x
Sat, 24 Feb 2024NOK 94.3bNOK 84.5bNOK 1.5b20.3x61.4x1.1x
Mon, 22 Jan 2024NOK 105.1bNOK 86.0bNOK 950.1m17.9x110.6x1.2x
Wed, 20 Dec 2023NOK 105.1bNOK 85.8bNOK 940.2m17x111.8x1.2x
Fri, 17 Nov 2023NOK 104.2bNOK 87.7b-NOK 77,567,018.0017.2x-1343.6x1.2x
Sun, 15 Oct 2023NOK 107.0bNOK 87.6bNOK 4.1m17.7x26035.3x1.2x
Tue, 12 Sep 2023NOK 109.4bNOK 87.5b-NOK 18,744,955.0021.7x-5833.8x1.2x
Thu, 10 Aug 2023NOK 119.4bNOK 85.2b-NOK 395,732,450.0021.7x-301.7x1.4x
Sat, 08 Jul 2023NOK 116.4bNOK 84.7b-NOK 323,697,855.0021.2x-359.4x1.4x
Mon, 05 Jun 2023NOK 119.5bNOK 85.1b-NOK 395,237,295.0022.7x-302.4x1.4x
Wed, 03 May 2023NOK 109.4bNOK 83.7b-NOK 32,777,342.0022.4x-3338.1x1.3x
Fri, 31 Mar 2023NOK 116.5bNOK 80.8b-NOK 374,252,699.0024.7x-311.3x1.4x
Sun, 26 Feb 2023NOK 113.3bNOK 80.8b-NOK 292,308,626.0024.3x-387.5x1.4x
Price to Earnings Ratio

-387.5x


Total Market Cap: NOK 113.3bTotal Earnings: -NOK 292,308,626.00Total Revenue: NOK 80.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 273.9x202420252026
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 48.3x which is lower than its 3-year average PE of 274x.
  • 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 Market1.43%
Tech0.96%
Electronic Equipment and Components15.14%
Communications-1.48%
IT-1.84%
Tech Hardware-2.01%
Semiconductors-4.65%
Software-9.98%
Industry PE
  • Investors are most optimistic about the Semiconductors industry even though it's trading below its 3-year average PE ratio of 379x.
    • 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 Communications industry, expecting annual earnings growth of 40% over the next 5 years.
  • However this is lower than its past earnings growth rate of 57% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 12% 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
KIT KitronNOK 102.0023.0%
+NOK 4.2b		163.8%PE45.4x
NORBT NorbitNOK 201.507.5%
+NOK 900.9m		78.3%PE31.8x
SMOP Smartoptics GroupNOK 32.107.7%
+NOK 225.5m		34.3%PE79.9x
ATEA AteaNOK 142.601.1%
+NOK 206.3m		5.9%PE18.1x
XPLRA Xplora TechnologiesNOK 55.605.7%
+NOK 134.3m		81.7%PS1.6x

Latest News

APR
NOK 65.40
Appear
7D
-11.9%
1Y
n/a
ELABS
NOK 5.13
Elliptic Laboratories
7D
11.9%
1Y
-46.1%
KIT
NOK 102.00
Kitron
7D
23.0%
1Y
163.8%
ITERA
NOK 7.18
Itera
7D
-7.9%
1Y
-22.0%
PEXIP
NOK 63.30
Pexip Holding
7D
-10.7%
1Y
43.5%
BOUV
NOK 50.10
Bouvet
7D
-8.4%
1Y
-30.7%
LINK
NOK 20.60
LINK Mobility Group Holding
7D
-18.6%
1Y
-12.3%

LINK Mobility Group Holding ASA Just Missed Earnings - But Analysts Have Updated Their Models

Feb 15
LINK Mobility Group Holding ASA Just Missed Earnings - But Analysts Have Updated Their Models
NORBT
NOK 201.50
Norbit
7D
7.5%
1Y
78.3%
ATEA
NOK 142.60
Atea
7D
1.1%
1Y
5.9%

Atea ASA (OB:ATEA) Just Released Its Yearly Results And Analysts Are Updating Their Estimates

Feb 13
Atea ASA (OB:ATEA) Just Released Its Yearly Results And Analysts Are Updating Their Estimates
XPLRA
NOK 55.60
Xplora Technologies
7D
5.7%
1Y
81.7%

XPLRA: Subscription Expansion Will Drive Future Upside From Current Levels

Analysts have trimmed their price target on Xplora Technologies to reflect a modestly lower assumed future P/E ratio. At the same time, they have kept fair value around $70.13, based on expectations for slightly higher revenue growth and profit margins.
ARR
NOK 8.55
Arribatec Group
7D
-7.6%
1Y
185.0%
NOD
NOK 144.20
Nordic Semiconductor
7D
-4.7%
1Y
-3.3%

NOD: Edge AI Rollout Will Support Re Rated Long Term Earnings Potential

Analysts have raised their price target on Nordic Semiconductor to €200.00, pointing to updated assumptions for slightly higher revenue growth and a modest adjustment in the discount rate and future P/E expectations following a more positive stance in recent research. Analyst Commentary Bullish analysts are leaning into a more constructive view on Nordic Semiconductor, using the recent research update to justify a higher price target and a more supportive stance on the shares.
HDLY
NOK 24.50
Huddly
7D
6.5%
1Y
-5.8%

Optimistic Investors Push Huddly AS (OB:HDLY) Shares Up 33% But Growth Is Lacking

Feb 04
Optimistic Investors Push Huddly AS (OB:HDLY) Shares Up 33% But Growth Is Lacking
PLT
NOK 6.82
poLight
7D
9.8%
1Y
120.4%
NAPA
NOK 31.50
Napatech
7D
-1.6%
1Y
30.2%
SMOP
NOK 32.10
Smartoptics Group
7D
7.7%
1Y
34.3%