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Norwegian (OSEAX) Tech Sector Analysis

UpdatedMar 01, 2026
DataAggregated Company Financials
Companies31
  • 7D-0.6%
  • 3M9.0%
  • 1Y24.7%
  • YTD2.0%

Last week, the Tech industry hasn't moved much but Norbit is up 3.8% in that time. The past year has been better, since the industry has gained 25% in that time. 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
Sun, 01 Mar 2026NOK 124.4bNOK 77.4bNOK 2.4b26x50.9x1.6x
Tue, 27 Jan 2026NOK 123.0bNOK 75.6bNOK 1.9b40.4x66.1x1.6x
Thu, 25 Dec 2025NOK 120.2bNOK 75.9bNOK 1.9b40.4x64.3x1.6x
Sat, 22 Nov 2025NOK 109.9bNOK 75.8bNOK 1.8b31.6x60.3x1.4x
Mon, 20 Oct 2025NOK 113.7bNOK 74.5bNOK 1.8b32.7x64.7x1.5x
Wed, 17 Sep 2025NOK 116.8bNOK 74.2bNOK 1.7b35.9x68.4x1.6x
Fri, 15 Aug 2025NOK 115.9bNOK 74.6bNOK 1.5b36.6x78.3x1.6x
Sun, 13 Jul 2025NOK 111.8bNOK 73.1bNOK 1.1b37.1x98.6x1.5x
Tue, 10 Jun 2025NOK 119.9bNOK 79.8bNOK 1.4b38.1x85.2x1.5x
Thu, 08 May 2025NOK 107.9bNOK 79.5bNOK 1.3b30.9x80.9x1.4x
Sat, 05 Apr 2025NOK 95.5bNOK 78.1bNOK 1.1b28.7x90.8x1.2x
Mon, 03 Mar 2025NOK 103.2bNOK 78.3bNOK 914.5m29.3x112.8x1.3x
Wed, 29 Jan 2025NOK 100.0bNOK 76.8bNOK 796.0m36.7x125.6x1.3x
Fri, 27 Dec 2024NOK 96.3bNOK 76.8bNOK 793.0m33.2x121.5x1.3x
Sun, 24 Nov 2024NOK 92.8bNOK 76.5bNOK 812.1m33.5x114.3x1.2x
Tue, 22 Oct 2024NOK 100.2bNOK 77.6bNOK 601.9m27.8x166.5x1.3x
Thu, 19 Sep 2024NOK 112.4bNOK 80.9bNOK 710.3m33.1x158.2x1.4x
Sat, 17 Aug 2024NOK 113.2bNOK 80.3bNOK 852.3m27.6x132.8x1.4x
Mon, 15 Jul 2024NOK 119.2bNOK 82.2bNOK 1.4b20.7x82.8x1.5x
Wed, 12 Jun 2024NOK 112.4bNOK 83.0bNOK 1.6b21.1x71.7x1.4x
Fri, 10 May 2024NOK 107.8bNOK 82.8bNOK 1.4b22.7x77.4x1.3x
Sun, 07 Apr 2024NOK 92.7bNOK 84.3bNOK 1.6b22.5x58.7x1.1x
Tue, 05 Mar 2024NOK 93.8bNOK 84.7bNOK 1.6b20.8x57.9x1.1x
Thu, 01 Feb 2024NOK 105.2bNOK 86.0bNOK 947.2m18.7x111.1x1.2x
Sat, 30 Dec 2023NOK 107.1bNOK 85.6bNOK 934.7m17.8x114.6x1.3x
Mon, 27 Nov 2023NOK 97.7bNOK 86.2bNOK 1.0b16.9x94.2x1.1x
Wed, 25 Oct 2023NOK 97.6bNOK 86.9b-NOK 265,385,648.0019.1x-367.9x1.1x
Fri, 22 Sep 2023NOK 108.0bNOK 87.6b-NOK 28,133,785.0020.2x-3838x1.2x
Sun, 20 Aug 2023NOK 116.5bNOK 86.6b-NOK 83,557,582.0021.9x-1394.5x1.3x
Tue, 18 Jul 2023NOK 118.2bNOK 83.8b-NOK 342,990,279.0020.8x-344.8x1.4x
Thu, 15 Jun 2023NOK 121.3bNOK 84.4b-NOK 376,961,132.0024x-321.8x1.4x
Sat, 13 May 2023NOK 111.7bNOK 83.9b-NOK 203,997,126.0022.5x-547.6x1.3x
Mon, 10 Apr 2023NOK 115.8bNOK 80.9b-NOK 396,555,599.0024.2x-292.1x1.4x
Wed, 08 Mar 2023NOK 116.7bNOK 81.0b-NOK 403,113,787.0023.2x-289.5x1.4x
Price to Earnings Ratio

-289.5x


Total Market Cap: NOK 116.7bTotal Earnings: -NOK 403,113,787.00Total Revenue: NOK 81.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 279.3x202420252026
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 279x.
  • 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 Market0.43%
Tech-0.58%
Electronic Equipment and Components1.06%
Semiconductors-0.99%
Tech Hardware-1.17%
IT-1.29%
Communications-1.57%
Software-2.00%
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 207.503.8%
+NOK 479.2m		85.3%PE32.8x
LINK LINK Mobility Group HoldingNOK 21.704.1%
+NOK 246.2m		-2.0%PE72.1x
IDEX IDEX BiometricsNOK 6.6020.0%
+NOK 71.5m		-18.0%PS215.9x
ARR Arribatec GroupNOK 8.826.1%
+NOK 34.9m		180.0%PS1x
XPLRA Xplora TechnologiesNOK 57.801.0%
+NOK 26.9m		80.6%PS1.7x

Latest News

ELABS
NOK 3.70
Elliptic Laboratories
7D
-28.8%
1Y
-63.7%
ARR
NOK 8.82
Arribatec Group
7D
6.1%
1Y
180.0%
SMCRT
NOK 17.20
SmartCraft
7D
-6.5%
1Y
-35.8%

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 144.40
Atea
7D
-0.8%
1Y
9.1%

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 207.50
Norbit
7D
3.8%
1Y
85.3%

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 21.30
Huddly
7D
-10.9%
1Y
15.1%
SPIR
NOK 8.54
Spir Group
7D
0.5%
1Y
-13.0%
XPLRA
NOK 57.80
Xplora Technologies
7D
1.0%
1Y
80.6%

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.
PEXIP
NOK 61.50
Pexip Holding
7D
-4.2%
1Y
41.5%
KIT
NOK 106.20
Kitron
7D
-0.4%
1Y
167.2%

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 21.70
LINK Mobility Group Holding
7D
4.1%
1Y
-2.0%

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).
NOD
NOK 143.30
Nordic Semiconductor
7D
-0.8%
1Y
4.3%

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.
STRO
NOK 10.35
StrongPoint
7D
5.0%
1Y
3.5%
BOUV
NOK 49.15
Bouvet
7D
-3.4%
1Y
-30.8%
IDEX
NOK 6.60
IDEX Biometrics
7D
20.0%
1Y
-18.0%
AIX
NOK 4.40
Ayfie International
7D
3.5%
1Y
10.6%