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Norwegian (OSEAX) Tech Sector Analysis

UpdatedFeb 18, 2026
DataAggregated Company Financials
Companies31
  • 7D-4.9%
  • 3M6.2%
  • 1Y14.1%
  • YTD-3.1%

Over the last 7 days, the Tech industry has dropped 4.9%, driven by Nordic Semiconductor declining 11%. On the other hand Kitron is actually up 12%. Over the past 12 months, the industry was up 14%. 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
Wed, 18 Feb 2026NOK 118.3bNOK 77.7bNOK 2.5b27.5x46.5x1.5x
Fri, 16 Jan 2026NOK 123.6bNOK 76.0bNOK 1.9b40.6x66.2x1.6x
Sun, 14 Dec 2025NOK 120.3bNOK 76.1bNOK 1.9b39.4x64.2x1.6x
Tue, 11 Nov 2025NOK 115.1bNOK 75.6bNOK 1.9b31.4x61.9x1.5x
Thu, 09 Oct 2025NOK 114.0bNOK 74.3bNOK 1.8b32.9x65x1.5x
Sat, 06 Sep 2025NOK 113.9bNOK 74.5bNOK 1.7b34.1x66.1x1.5x
Mon, 04 Aug 2025NOK 111.7bNOK 74.0bNOK 1.2b37.7x97x1.5x
Wed, 02 Jul 2025NOK 125.2bNOK 80.0bNOK 1.4b39.7x88.3x1.6x
Fri, 30 May 2025NOK 115.8bNOK 79.8bNOK 1.4b36.6x82.4x1.5x
Sun, 27 Apr 2025NOK 103.8bNOK 77.9bNOK 1.1b35.4x98x1.3x
Tue, 25 Mar 2025NOK 104.0bNOK 77.6bNOK 1.0b32.8x99.1x1.3x
Thu, 20 Feb 2025NOK 106.3bNOK 78.1bNOK 877.1m29.8x121.2x1.4x
Sat, 18 Jan 2025NOK 98.8bNOK 76.8bNOK 784.9m32.8x125.8x1.3x
Mon, 16 Dec 2024NOK 98.1bNOK 76.6bNOK 806.9m34x121.5x1.3x
Wed, 13 Nov 2024NOK 94.1bNOK 76.4bNOK 722.6m27.9x130.3x1.2x
Fri, 11 Oct 2024NOK 105.5bNOK 81.0bNOK 707.1m35.6x149.2x1.3x
Sun, 08 Sep 2024NOK 110.1bNOK 81.1bNOK 702.4m33.4x156.7x1.4x
Tue, 06 Aug 2024NOK 109.5bNOK 82.7bNOK 1.4b20.5x76.9x1.3x
Thu, 04 Jul 2024NOK 113.7bNOK 82.8bNOK 1.6b20.5x72.6x1.4x
Sat, 01 Jun 2024NOK 111.8bNOK 82.8bNOK 1.6b20.5x71.7x1.4x
Mon, 29 Apr 2024NOK 100.3bNOK 82.6bNOK 1.2b21.1x83.7x1.2x
Wed, 27 Mar 2024NOK 94.7bNOK 85.1bNOK 1.7b21x56.8x1.1x
Fri, 23 Feb 2024NOK 94.9bNOK 84.5bNOK 1.5b20.9x61.8x1.1x
Sun, 21 Jan 2024NOK 105.1bNOK 86.0bNOK 950.1m17.9x110.6x1.2x
Tue, 19 Dec 2023NOK 105.8bNOK 85.9bNOK 945.9m16.7x111.8x1.2x
Thu, 16 Nov 2023NOK 104.2bNOK 87.6b-NOK 74,463,420.0017.3x-1399.6x1.2x
Sat, 14 Oct 2023NOK 107.0bNOK 87.6bNOK 2.4m17.7x43916.3x1.2x
Mon, 11 Sep 2023NOK 110.9bNOK 87.5b-NOK 21,414,456.0021.8x-5179.4x1.3x
Wed, 09 Aug 2023NOK 119.1bNOK 85.3b-NOK 394,733,571.0021.5x-301.6x1.4x
Fri, 07 Jul 2023NOK 116.6bNOK 84.8b-NOK 320,488,432.0021.7x-363.8x1.4x
Sun, 04 Jun 2023NOK 119.5bNOK 85.1b-NOK 395,237,295.0022.7x-302.4x1.4x
Tue, 02 May 2023NOK 109.9bNOK 83.4b-NOK 30,864,830.0022.6x-3561.8x1.3x
Thu, 30 Mar 2023NOK 113.3bNOK 80.8b-NOK 377,352,883.0023.9x-300.2x1.4x
Sat, 25 Feb 2023NOK 113.3bNOK 80.8b-NOK 292,790,438.0024.3x-386.9x1.4x
Price to Earnings Ratio

-386.9x


Total Market Cap: NOK 113.3bTotal Earnings: -NOK 292,790,438.00Total Revenue: NOK 80.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 273.3x202420252026
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 46.5x which is lower than its 3-year average PE of 273x.
  • The 3-year average PS ratio of 1.4x is lower than the industry's current PS ratio of 1.5x.
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 Market-0.37%
Tech-4.88%
Electronic Equipment and Components4.93%
Tech Hardware-2.50%
Communications-3.09%
IT-5.73%
Semiconductors-10.45%
Software-13.54%
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 67% 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 96.4012.5%
+NOK 2.3b		148.6%PE42.5x
PLT poLightNOK 6.6611.9%
+NOK 151.1m		100.6%PS108.5x
XPLRA Xplora TechnologiesNOK 54.803.8%
+NOK 89.5m		79.7%PS1.6x
SMOP Smartoptics GroupNOK 29.702.4%
+NOK 68.6m		24.8%PE73.4x
ELABS Elliptic LaboratoriesNOK 4.997.3%
+NOK 35.8m		-47.1%PS3.7x

Latest News

ELABS
NOK 4.99
Elliptic Laboratories
7D
7.3%
1Y
-47.1%
KIT
NOK 96.40
Kitron
7D
12.5%
1Y
148.6%
ITERA
NOK 7.12
Itera
7D
-8.5%
1Y
-22.4%
PEXIP
NOK 61.70
Pexip Holding
7D
-15.9%
1Y
39.0%
BOUV
NOK 49.80
Bouvet
7D
-12.6%
1Y
-34.4%
LINK
NOK 20.20
LINK Mobility Group Holding
7D
-21.9%
1Y
-15.7%

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 194.00
Norbit
7D
-5.4%
1Y
70.2%
ATEA
NOK 141.00
Atea
7D
-3.4%
1Y
4.8%

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 54.80
Xplora Technologies
7D
3.8%
1Y
79.7%

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.
NOD
NOK 137.10
Nordic Semiconductor
7D
-10.5%
1Y
-6.7%

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
2.5%
1Y
-2.0%

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 6.66
poLight
7D
11.9%
1Y
100.6%
SMOP
NOK 29.70
Smartoptics Group
7D
2.4%
1Y
24.8%
AIX
NOK 4.58
Ayfie International
7D
11.7%
1Y
13.4%
APR
NOK 65.10
Appear
7D
-11.7%
1Y
n/a