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Norwegian (OSEAX) Tech Sector Analysis

UpdatedFeb 21, 2026
DataAggregated Company Financials
Companies31
  • 7D5.0%
  • 3M12.3%
  • 1Y18.4%
  • YTD2.6%

The Tech industry is up 5.0% in the last week, with Kitron up 15%. This means that the industry has gained 18% over the past year. 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
Sat, 21 Feb 2026NOK 125.2bNOK 77.4bNOK 2.6b27x48.1x1.6x
Mon, 19 Jan 2026NOK 124.3bNOK 75.9bNOK 1.9b40.6x66.6x1.6x
Wed, 17 Dec 2025NOK 118.6bNOK 76.2bNOK 1.9b39.1x63.3x1.6x
Fri, 14 Nov 2025NOK 113.9bNOK 75.4bNOK 1.8b31.1x62.8x1.5x
Sun, 12 Oct 2025NOK 114.9bNOK 74.5bNOK 1.8b32.8x65.4x1.5x
Tue, 09 Sep 2025NOK 115.0bNOK 74.5bNOK 1.7b34.1x66.7x1.5x
Thu, 07 Aug 2025NOK 108.7bNOK 73.9bNOK 1.2b37.1x94.1x1.5x
Sat, 05 Jul 2025NOK 124.8bNOK 80.0bNOK 1.4b39.6x88x1.6x
Mon, 02 Jun 2025NOK 115.8bNOK 79.9bNOK 1.4b36.5x82.8x1.4x
Wed, 30 Apr 2025NOK 102.3bNOK 78.6bNOK 1.4b33.4x75.5x1.3x
Fri, 28 Mar 2025NOK 102.7bNOK 77.6bNOK 1.1b32x97.7x1.3x
Sun, 23 Feb 2025NOK 108.6bNOK 78.2bNOK 892.7m30.8x121.7x1.4x
Tue, 21 Jan 2025NOK 99.9bNOK 76.8bNOK 794.3m33.7x125.7x1.3x
Thu, 19 Dec 2024NOK 98.0bNOK 76.8bNOK 800.6m33.2x122.4x1.3x
Sat, 16 Nov 2024NOK 94.3bNOK 76.5bNOK 802.3m34.2x117.5x1.2x
Mon, 14 Oct 2024NOK 105.2bNOK 80.9bNOK 709.3m34.7x148.3x1.3x
Wed, 11 Sep 2024NOK 110.6bNOK 81.2bNOK 693.3m32.6x159.6x1.4x
Fri, 09 Aug 2024NOK 113.1bNOK 82.4bNOK 1.4b20.5x79.7x1.4x
Sun, 07 Jul 2024NOK 115.7bNOK 82.9bNOK 1.6b20.6x73.8x1.4x
Tue, 04 Jun 2024NOK 111.2bNOK 82.8bNOK 1.6b20.5x71.3x1.3x
Thu, 02 May 2024NOK 103.4bNOK 82.7bNOK 1.3b22.4x80.3x1.3x
Sat, 30 Mar 2024NOK 95.1bNOK 84.4bNOK 1.6b22.3x59.2x1.1x
Mon, 26 Feb 2024NOK 94.3bNOK 84.5bNOK 1.5b20.3x60.8x1.1x
Wed, 24 Jan 2024NOK 108.2bNOK 86.0bNOK 949.0m18.8x114x1.3x
Fri, 22 Dec 2023NOK 104.5bNOK 85.8bNOK 942.1m17.1x110.9x1.2x
Sun, 19 Nov 2023NOK 104.2bNOK 87.8b-NOK 65,728,906.0017.1x-1584.9x1.2x
Tue, 17 Oct 2023NOK 107.0bNOK 87.6bNOK 4.7m18.5x22529.2x1.2x
Thu, 14 Sep 2023NOK 109.0bNOK 87.6b-NOK 20,467,934.0021.2x-5326.3x1.2x
Sat, 12 Aug 2023NOK 119.9bNOK 85.7b-NOK 290,772,863.0023.3x-412.4x1.4x
Mon, 10 Jul 2023NOK 116.4bNOK 84.7b-NOK 323,958,290.0021.2x-359.2x1.4x
Wed, 07 Jun 2023NOK 119.8bNOK 85.2b-NOK 397,737,608.0022.7x-301.2x1.4x
Fri, 05 May 2023NOK 109.6bNOK 83.5b-NOK 56,042,569.0022.4x-1955.6x1.3x
Sun, 02 Apr 2023NOK 116.7bNOK 80.9b-NOK 386,085,906.0024.6x-302.2x1.4x
Tue, 28 Feb 2023NOK 114.4bNOK 80.7b-NOK 290,188,704.0024.7x-394.1x1.4x
Price to Earnings Ratio

-394.1x


Total Market Cap: NOK 114.4bTotal Earnings: -NOK 290,188,704.00Total Revenue: NOK 80.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 275.3x202420252026
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 48.1x which is lower than its 3-year average PE of 275x.
  • 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 Market3.13%
Tech5.04%
Communications12.43%
Electronic Equipment and Components9.88%
IT2.98%
Semiconductors1.57%
Software-0.14%
Tech Hardware-1.97%
Industry PE
  • Investors are most optimistic about the Semiconductors industry even though it's trading below its 3-year average PE ratio of 380x.
    • 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
KIT KitronNOK 106.6014.7%
+NOK 3.0b		154.1%PE47.4x
SMOP Smartoptics GroupNOK 38.2027.8%
+NOK 813.8m		61.9%PE83.9x
NAPA NapatechNOK 36.5013.5%
+NOK 478.8m		52.1%PS20.1x
ATEA AteaNOK 145.603.1%
+NOK 477.6m		7.9%PE18.5x
NOD Nordic SemiconductorNOK 144.501.6%
+NOK 436.5m		-5.9%PE184.3x

Latest News

SMCRT
NOK 18.40
SmartCraft
7D
12.5%
1Y
-28.4%
SMOP
NOK 38.20
Smartoptics Group
7D
27.8%
1Y
61.9%
NOD
NOK 144.50
Nordic Semiconductor
7D
1.6%
1Y
-5.9%

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.
KIT
NOK 106.60
Kitron
7D
14.7%
1Y
154.1%
LINK
NOK 20.85
LINK Mobility Group Holding
7D
-4.8%
1Y
-10.5%
PEXIP
NOK 64.20
Pexip Holding
7D
-1.5%
1Y
47.9%

PEXIP: Future Outlook Will Highlight Dividend Visibility And Earnings Multiple Support

Analysts have trimmed their price target on Pexip Holding from NOK 77.50 to NOK 75.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News Pexip Holding ASA announced an annual dividend of NOK 3.0000 per share, with payment scheduled for April 28, 2026 (Key Developments).
APR
NOK 67.18
Appear
7D
-1.4%
1Y
n/a
TECH
NOK 10.90
Techstep
7D
-3.5%
1Y
-17.1%
NORBT
NOK 200.00
Norbit
7D
3.3%
1Y
69.8%
ATEA
NOK 145.60
Atea
7D
3.1%
1Y
7.9%

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
RECSI
NOK 0.39
REC Silicon
7D
-11.7%
1Y
-68.2%
XPLRA
NOK 57.20
Xplora Technologies
7D
9.2%
1Y
80.4%

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.
HDLY
NOK 23.90
Huddly
7D
-3.2%
1Y
-0.4%

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
NAPA
NOK 36.50
Napatech
7D
13.5%
1Y
52.1%
IDEX
NOK 5.50
IDEX Biometrics
7D
-4.8%
1Y
-54.2%
OTEC
NOK 17.85
Otello
7D
-1.7%
1Y
138.0%