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

Norwegian (OSEAX) Tech Sector Analysis

UpdatedMar 02, 2026
DataAggregated Company Financials
Companies31
  • 7D-0.1%
  • 3M10.3%
  • 1Y24.0%
  • YTD2.0%

The Tech is pretty flat in the last 7 days, but Norbit has stood out, gaining 4.7%. As for the the longer term, the industry is up 24% over the past 12 months. As for the next few years, earnings are expected to grow by 28% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 03 Mar 2026NOK 124.4bNOK 77.3bNOK 2.5b25.9x49.8x1.6x
Thu, 29 Jan 2026NOK 122.8bNOK 75.4bNOK 1.9b39.9x66.1x1.6x
Sat, 27 Dec 2025NOK 120.2bNOK 75.9bNOK 1.9b40.4x64.3x1.6x
Mon, 24 Nov 2025NOK 109.8bNOK 75.8bNOK 1.8b31.6x60.2x1.4x
Wed, 22 Oct 2025NOK 115.2bNOK 74.4bNOK 1.8b32.8x65.6x1.5x
Fri, 19 Sep 2025NOK 117.7bNOK 74.4bNOK 1.7b34.9x68.8x1.6x
Sun, 17 Aug 2025NOK 117.3bNOK 74.8bNOK 1.5b35.7x80.1x1.6x
Tue, 15 Jul 2025NOK 113.6bNOK 73.1bNOK 1.1b39.4x99.9x1.6x
Thu, 12 Jun 2025NOK 121.2bNOK 79.8bNOK 1.4b38.7x86x1.5x
Sat, 10 May 2025NOK 108.8bNOK 79.5bNOK 1.3b32x85.4x1.4x
Mon, 07 Apr 2025NOK 95.6bNOK 78.1bNOK 1.1b28.7x90.8x1.2x
Wed, 05 Mar 2025NOK 99.9bNOK 78.4bNOK 922.0m27.9x108.3x1.3x
Fri, 31 Jan 2025NOK 101.3bNOK 76.8bNOK 796.5m38.2x127.1x1.3x
Sun, 29 Dec 2024NOK 97.3bNOK 76.9bNOK 793.0m33.9x122.7x1.3x
Tue, 26 Nov 2024NOK 93.4bNOK 76.6bNOK 812.5m33.3x114.9x1.2x
Thu, 24 Oct 2024NOK 102.1bNOK 77.9bNOK 602.2m29x169.5x1.3x
Sat, 21 Sep 2024NOK 114.3bNOK 80.8bNOK 730.9m32.7x156.4x1.4x
Mon, 19 Aug 2024NOK 113.2bNOK 80.6bNOK 927.9m27.6x122x1.4x
Wed, 17 Jul 2024NOK 118.0bNOK 82.3bNOK 1.4b20.3x83.3x1.4x
Fri, 14 Jun 2024NOK 115.1bNOK 82.9bNOK 1.6b21.4x73.4x1.4x
Sun, 12 May 2024NOK 109.1bNOK 82.9bNOK 1.3b22.2x83.1x1.3x
Tue, 09 Apr 2024NOK 94.6bNOK 84.2bNOK 1.6b23x60x1.1x
Thu, 07 Mar 2024NOK 92.3bNOK 84.6bNOK 1.6b20.5x57.1x1.1x
Sat, 03 Feb 2024NOK 104.8bNOK 86.2bNOK 956.6m18.8x109.5x1.2x
Mon, 01 Jan 2024NOK 107.1bNOK 85.6bNOK 936.0m17.8x114.5x1.3x
Wed, 29 Nov 2023NOK 97.1bNOK 86.1bNOK 1.0b17x93.9x1.1x
Fri, 27 Oct 2023NOK 96.3bNOK 87.0b-NOK 293,477,879.0018.5x-328.3x1.1x
Sun, 24 Sep 2023NOK 108.0bNOK 87.6b-NOK 28,475,594.0019.5x-3794.2x1.2x
Tue, 22 Aug 2023NOK 116.5bNOK 86.6b-NOK 81,560,110.0022.9x-1428.6x1.3x
Thu, 20 Jul 2023NOK 118.9bNOK 85.1b-NOK 373,638,000.0020.7x-318.1x1.4x
Sat, 17 Jun 2023NOK 123.0bNOK 84.5b-NOK 375,401,616.0024.3x-327.8x1.5x
Mon, 15 May 2023NOK 111.7bNOK 84.1b-NOK 151,216,866.0024.5x-738.6x1.3x
Wed, 12 Apr 2023NOK 114.0bNOK 81.0b-NOK 402,179,675.0023.9x-283.4x1.4x
Fri, 10 Mar 2023NOK 120.3bNOK 80.9b-NOK 424,070,122.0023.7x-283.6x1.5x
Price to Earnings Ratio

-283.6x


Total Market Cap: NOK 120.3bTotal Earnings: -NOK 424,070,122.00Total Revenue: NOK 80.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 280.1x202420252026
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 49.8x which is lower than its 3-year average PE of 280x.
  • 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 Market0.60%
Tech-0.13%
Electronic Equipment and Components1.25%
Communications-0.32%
IT-0.32%
Semiconductors-0.99%
Tech Hardware-1.17%
Software-1.41%
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
NORBT NorbitNOK 205.003.4%
+NOK 434.5m		82.1%PE32.4x
KIT KitronNOK 107.500.5%
+NOK 109.3m		147.0%PE47.8x
NAPA NapatechNOK 35.902.3%
+NOK 91.1m		89.9%PS19.8x
NOD Nordic SemiconductorNOK 141.500.2%
+NOK 38.5m		2.9%PE178.9x
IDEX IDEX BiometricsNOK 5.909.3%
+NOK 32.8m		-38.5%PS191.3x

Latest News

ARR
NOK 8.36
Arribatec Group
7D
4.3%
1Y
189.1%
PEXIP
NOK 61.70
Pexip Holding
7D
-2.8%
1Y
38.0%
ELABS
NOK 3.67
Elliptic Laboratories
7D
-25.1%
1Y
-63.5%
SMCRT
NOK 16.85
SmartCraft
7D
-3.7%
1Y
-38.9%

SMCRT: New Segment Model And Merger Plan Will Drive Future Upside

Analysts have reduced their price target on SmartCraft from NOK 27.25 to NOK 21.25, citing updated assumptions around fair value, discount rate, revenue growth, profit margin, and a lower future P/E multiple. What's in the News SmartCraft has scheduled a special and extraordinary shareholders meeting on 12 January 2026 at 10:00 W.
ATEA
NOK 144.00
Atea
7D
-0.4%
1Y
7.0%

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).
NORBT
NOK 205.00
Norbit
7D
3.4%
1Y
82.1%

NORBT: Defence Contracts And Dividend Policy Will Shape A Measured Forward Outlook

Analysts have raised their Norbit price target from NOK 207.50 to NOK 214.00, citing new coverage and supportive views on the company's earnings profile and valuation assumptions. Analyst Commentary Recent research initiation and the higher price target frame Norbit as a name where analysts see upside potential, but also clear execution checkpoints investors should watch.
HDLY
NOK 21.00
Huddly
7D
-15.0%
1Y
13.4%
SMOP
NOK 36.30
Smartoptics Group
7D
-6.0%
1Y
68.8%

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).
KIT
NOK 107.50
Kitron
7D
0.5%
1Y
147.0%

KIT: Defence Wins And Energy Demand Will Shape Equity And Dividend Outlook

Analysts have lifted their price target on Kitron from NOK 83.30 to NOK 101.50, citing updates in their fair value work, a slightly adjusted discount rate, a revised revenue growth outlook, an updated P/E assumption and a modestly higher profit margin forecast. What's in the News Kitron ASA proposed a cash dividend of NOK 0.70 per share, with the last day including rights on 24 April 2026, the ex-date on 27 April 2026, the record date on 28 April 2026, and expected payment on or about 15 May 2026, subject to approval on 24 April 2026 (Key Developments).
LINK
NOK 20.55
LINK Mobility Group Holding
7D
-3.7%
1Y
-7.6%

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).
NOD
NOK 141.50
Nordic Semiconductor
7D
0.2%
1Y
2.9%

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

Analysts have lifted their fair value estimate for Nordic Semiconductor to NOK 225.00 from NOK 200.00. This reflects updated assumptions on revenue growth, profit margins and future P/E, alongside recent Street research including a higher NOK 155.00 price target at Deutsche Bank and a more positive stance from SEB Equities.
APR
NOK 64.72
Appear
7D
-3.4%
1Y
n/a
ENSU
NOK 0.76
Ensurge Micropower
7D
1.5%
1Y
-40.1%
NAPA
NOK 35.90
Napatech
7D
2.3%
1Y
89.9%
IDEX
NOK 5.90
IDEX Biometrics
7D
9.3%
1Y
-38.5%
OTEC
NOK 17.85
Otello
7D
1.1%
1Y
139.9%