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Norwegian (OSEAX) Tech Sector Analysis

UpdatedSep 18, 2025
DataAggregated Company Financials
Companies32
  • 7D-0.008%
  • 3M4.2%
  • 1Y21.2%
  • YTD26.8%

Over the last 7 days, the Tech industry has risen 1.6%, driven by gains from Norbit of 11%. During this same period, the LINK Mobility Group Holding underperformed, falling 5.8%. This takes the industry's 12 month performance to a gain of 21%. Looking forward, earnings are forecast to grow by 33% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 18 Sep 2025NOK 116.0bNOK 74.3bNOK 1.7b35.2x67.8x1.6x
Sat, 16 Aug 2025NOK 117.3bNOK 74.6bNOK 1.5b35.7x77.9x1.6x
Mon, 14 Jul 2025NOK 111.8bNOK 73.1bNOK 1.1b37.1x98.6x1.5x
Wed, 11 Jun 2025NOK 120.2bNOK 79.9bNOK 1.4b38.5x85.5x1.5x
Fri, 09 May 2025NOK 107.9bNOK 79.6bNOK 1.3b30.9x82.2x1.4x
Sun, 06 Apr 2025NOK 95.6bNOK 78.1bNOK 1.1b28.7x90.8x1.2x
Tue, 04 Mar 2025NOK 104.4bNOK 78.3bNOK 924.0m29.4x113x1.3x
Thu, 30 Jan 2025NOK 101.7bNOK 76.8bNOK 795.9m38.3x127.7x1.3x
Sat, 28 Dec 2024NOK 97.3bNOK 76.9bNOK 792.7m33.9x122.8x1.3x
Mon, 25 Nov 2024NOK 92.8bNOK 76.5bNOK 812.1m33.5x114.3x1.2x
Wed, 23 Oct 2024NOK 100.2bNOK 77.6bNOK 603.3m27.8x166.1x1.3x
Fri, 20 Sep 2024NOK 113.5bNOK 80.8bNOK 719.0m33.5x157.9x1.4x
Sun, 18 Aug 2024NOK 113.2bNOK 80.6bNOK 927.9m27.6x122x1.4x
Tue, 16 Jul 2024NOK 118.3bNOK 82.3bNOK 1.4b20.3x82.1x1.4x
Thu, 13 Jun 2024NOK 112.4bNOK 82.9bNOK 1.6b21.4x71.6x1.4x
Sat, 11 May 2024NOK 109.1bNOK 82.7bNOK 1.4b22.2x79.2x1.3x
Mon, 08 Apr 2024NOK 92.7bNOK 84.3bNOK 1.6b22.5x58.7x1.1x
Wed, 06 Mar 2024NOK 92.5bNOK 84.7bNOK 1.6b20.8x57.1x1.1x
Fri, 02 Feb 2024NOK 104.3bNOK 85.9bNOK 943.6m18.8x110.6x1.2x
Sun, 31 Dec 2023NOK 107.1bNOK 85.6bNOK 936.0m17.8x114.4x1.3x
Tue, 28 Nov 2023NOK 97.7bNOK 86.1bNOK 1.0b16.9x94.5x1.1x
Thu, 26 Oct 2023NOK 96.2bNOK 86.9b-NOK 287,916,510.0018.4x-334.3x1.1x
Sat, 23 Sep 2023NOK 108.1bNOK 87.6b-NOK 26,818,797.0019.5x-4029.7x1.2x
Mon, 21 Aug 2023NOK 116.5bNOK 86.6b-NOK 83,557,582.0021.9x-1394.5x1.3x
Wed, 19 Jul 2023NOK 118.6bNOK 83.8b-NOK 344,686,011.0020.5x-344x1.4x
Fri, 16 Jun 2023NOK 122.1bNOK 84.4b-NOK 372,622,653.0023.8x-327.6x1.4x
Sun, 14 May 2023NOK 111.7bNOK 84.1b-NOK 151,216,866.0024.5x-738.6x1.3x
Tue, 11 Apr 2023NOK 115.8bNOK 80.9b-NOK 396,555,599.0024.2x-292.1x1.4x
Thu, 09 Mar 2023NOK 117.2bNOK 81.0b-NOK 402,252,113.0023.6x-291.3x1.4x
Sat, 04 Feb 2023NOK 118.9bNOK 112.2bNOK 310.4m25.3x383.1x1.1x
Mon, 02 Jan 2023NOK 113.9bNOK 111.7bNOK 331.8m24.6x343.3x1x
Wed, 30 Nov 2022NOK 116.8bNOK 111.8bNOK 438.2m24.9x266.6x1x
Fri, 28 Oct 2022NOK 108.6bNOK 111.3bNOK 378.3m24.5x287x1x
Sun, 25 Sep 2022NOK 102.4bNOK 107.8bNOK 100.2m22.3x1021.4x1x
Price to Earnings Ratio

1021.4x


Total Market Cap: NOK 102.4bTotal Earnings: NOK 100.2mTotal Revenue: NOK 107.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Tech Sector Price to Earnings3Y Average 329.2x202320242025
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 68.4x which is lower than its 3-year average PE of 330x.
  • The 3-year average PS ratio of 1.3x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 157% per year over the last three years.
  • Meanwhile revenues for these companies have declined 12% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Norwegian Tech sector?

NO Market0.064%
Tech-0.0078%
Communications13.31%
Semiconductors0.30%
IT0.27%
Electronic Equipment and Components-0.21%
Tech Hardware-1.81%
Software-2.84%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 28.5%, which is lower than the prior year's growth of 45.0% per year.
Forecasted Growth
  • Analysts are most optimistic on the Communications industry, expecting annual earnings growth of 56% over the next 5 years.
  • This is better than its past earnings decline of 14% per year.
  • In contrast, the IT industry is expected to see its earnings grow by 20% 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
SMCRT SmartCraftNOK 29.0011.5%
+NOK 496.8m		-1.4%PE49.2x
SMOP Smartoptics GroupNOK 24.5025.6%
+NOK 490.2m		44.1%PE74.1x
NAPA NapatechNOK 24.005.7%
+NOK 143.1m		-23.1%PS13.4x
XPLRA Xplora TechnologiesNOK 50.604.1%
+NOK 89.5m		198.5%PS1.7x
ATEA AteaNOK 144.400.6%
+NOK 89.2m		2.0%PE21.1x

Latest News

SPIR
NOK 7.96
Spir Group
7D
-20.8%
1Y
8.7%

We Think Spir Group (OB:SPIR) Can Stay On Top Of Its Debt

Sep 13
We Think Spir Group (OB:SPIR) Can Stay On Top Of Its Debt
SMOP
NOK 24.50
Smartoptics Group
7D
25.6%
1Y
44.1%

Smartoptics Group ASA (OB:SMOP) Looks Just Right With A 28% Price Jump

Sep 13
Smartoptics Group ASA (OB:SMOP) Looks Just Right With A 28% Price Jump
LINK
NOK 32.45
LINK Mobility Group Holding
7D
-6.2%
1Y
40.2%
PEXIP
NOK 62.90
Pexip Holding
7D
-4.0%
1Y
71.4%
NOD
NOK 154.50
Nordic Semiconductor
7D
0.2%
1Y
16.3%
ELABS
NOK 9.77
Elliptic Laboratories
7D
-6.1%
1Y
-23.6%
LOKO
NOK 0.77
Lokotech Group
7D
7.3%
1Y
-6.1%
NAPA
NOK 24.00
Napatech
7D
5.7%
1Y
-23.1%
SMCRT
NOK 29.00
SmartCraft
7D
11.5%
1Y
-1.4%

Earnings Miss: SmartCraft ASA Missed EPS By 6.4% And Analysts Are Revising Their Forecasts

Aug 29
Earnings Miss: SmartCraft ASA Missed EPS By 6.4% And Analysts Are Revising Their Forecasts
BOUV
NOK 66.10
Bouvet
7D
-0.8%
1Y
-4.3%

What Bouvet ASA's (OB:BOUV) P/E Is Not Telling You

Aug 28
What Bouvet ASA's (OB:BOUV) P/E Is Not Telling You
XPLRA
NOK 50.60
Xplora Technologies
7D
4.1%
1Y
198.5%
ATEA
NOK 144.40
Atea
7D
0.6%
1Y
2.0%

Frame Agreements In Denmark And Finland Will Drive AI Investment

Atea’s consensus price target has increased to NOK170.00, primarily reflecting a higher expected future P/E, while profit margins remain stable. What's in the News Atea ASA commenced a share repurchase program authorized by shareholders, allowing buybacks of up to NOK 10 million nominal value until the next AGM or June 30, 2026, with a price range of NOK 1–250 per share.
NEXT
NOK 3.06
NEXT Biometrics Group
7D
-11.8%
1Y
-60.3%
KIT
NOK 60.95
Kitron
7D
-0.5%
1Y
89.5%

Kitron (OB:KIT) Might Be Having Difficulty Using Its Capital Effectively

Aug 20
Kitron (OB:KIT) Might Be Having Difficulty Using Its Capital Effectively
RECSI
NOK 1.48
REC Silicon
7D
-12.9%
1Y
-82.0%
OTEC
NOK 13.45
Otello
7D
2.3%
1Y
61.3%