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Norwegian (OSEAX) IT Industry Analysis

UpdatedFeb 04, 2026
DataAggregated Company Financials
Companies6
  • 7D-4.7%
  • 3M-2.7%
  • 1Y-6.1%
  • YTD-3.4%

Over the last 7 days, the IT industry has dropped 1.5%, driven by a pullback from Atea of 6.3%. Meanwhile, Arribatec Group actually outperformed within the industry, gaining 13% in the last week. Over the last year, the industry has been flat overall. As for the next few years, earnings are expected to grow by 19% per annum.

Industry Valuation and Performance

Has the Norwegian IT Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026NOK 24.8bNOK 43.6bNOK 1.2b20.8x20.2x0.6x
Fri, 02 Jan 2026NOK 26.2bNOK 43.6bNOK 1.2b22x21.3x0.6x
Sun, 30 Nov 2025NOK 24.9bNOK 43.6bNOK 1.2b20.8x20.3x0.6x
Tue, 28 Oct 2025NOK 26.0bNOK 43.6bNOK 1.2b19.4x21.5x0.6x
Thu, 25 Sep 2025NOK 24.9bNOK 43.2bNOK 1.2b19.1x21.3x0.6x
Sat, 23 Aug 2025NOK 25.9bNOK 43.2bNOK 1.2b20x22x0.6x
Mon, 21 Jul 2025NOK 25.9bNOK 43.2bNOK 1.2b20.6x21.8x0.6x
Wed, 18 Jun 2025NOK 26.7bNOK 42.5bNOK 1.2b22.4x22.9x0.6x
Fri, 16 May 2025NOK 27.1bNOK 42.3bNOK 1.1b21.5x23.6x0.6x
Sun, 13 Apr 2025NOK 24.0bNOK 41.4bNOK 1.2b20.2x20.4x0.6x
Tue, 11 Mar 2025NOK 24.2bNOK 41.4bNOK 1.2b19.3x20.5x0.6x
Thu, 06 Feb 2025NOK 26.3bNOK 40.2bNOK 1.2b21.8x22.8x0.7x
Sat, 04 Jan 2025NOK 25.4bNOK 40.2bNOK 1.2b20.6x22x0.6x
Mon, 02 Dec 2024NOK 24.3bNOK 40.2bNOK 1.2b19.6x21.1x0.6x
Wed, 30 Oct 2024NOK 25.2bNOK 40.1bNOK 1.1b20.2x22x0.6x
Fri, 27 Sep 2024NOK 29.9bNOK 43.4bNOK 1.2b21.1x24.3x0.7x
Sun, 25 Aug 2024NOK 28.8bNOK 43.3bNOK 1.2b32.4x23.9x0.7x
Tue, 23 Jul 2024NOK 28.1bNOK 43.3bNOK 1.2b28.2x23.2x0.7x
Thu, 20 Jun 2024NOK 29.6bNOK 43.8bNOK 1.3b27.7x23.4x0.7x
Sat, 18 May 2024NOK 28.2bNOK 43.7bNOK 1.3b26.5x22.2x0.6x
Mon, 15 Apr 2024NOK 26.8bNOK 44.7bNOK 1.3b24.2x21x0.6x
Wed, 13 Mar 2024NOK 26.0bNOK 44.7bNOK 1.3b24.3x20.4x0.6x
Fri, 09 Feb 2024NOK 26.4bNOK 44.4bNOK 1.3b18x20.4x0.6x
Sun, 07 Jan 2024NOK 26.2bNOK 44.8bNOK 1.3b16.8x19.5x0.6x
Tue, 05 Dec 2023NOK 25.0bNOK 44.8bNOK 1.3b15.9x18.6x0.6x
Thu, 02 Nov 2023NOK 24.4bNOK 44.6bNOK 1.3b16.2x18.1x0.5x
Sat, 30 Sep 2023NOK 26.9bNOK 44.9bNOK 1.4b17.6x19.7x0.6x
Mon, 28 Aug 2023NOK 26.6bNOK 44.7bNOK 1.4b17.9x19.5x0.6x
Wed, 26 Jul 2023NOK 28.1bNOK 44.5bNOK 1.3b19.2x20.9x0.6x
Fri, 23 Jun 2023NOK 30.8bNOK 43.2bNOK 1.4b21.2x22.4x0.7x
Sun, 21 May 2023NOK 30.5bNOK 43.1bNOK 1.4b22x22.4x0.7x
Tue, 18 Apr 2023NOK 27.5bNOK 40.9bNOK 1.3b21x21.7x0.7x
Thu, 16 Mar 2023NOK 24.6bNOK 40.9bNOK 1.3b19.4x19.4x0.6x
Sat, 11 Feb 2023NOK 25.3bNOK 40.6bNOK 1.2b20.4x20.6x0.6x
Price to Earnings Ratio

20.6x


Total Market Cap: NOK 25.3bTotal Earnings: NOK 1.2bTotal Revenue: NOK 40.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian IT Industry Price to Earnings3Y Average 21.3x202420252026
Current Industry PE
  • Investors are relatively neutral on the Norwegian IT industry at the moment, indicating that they anticipate long term growth rates to remain steady.
  • The industry is trading close to its 3-year average PE ratio of 21.3x.
  • The industry is trading close to its 3-year average PS ratio of 0.62x.
Past Earnings Growth
  • The earnings for companies in the IT industry have remained mostly flat over the last three years.
  • Meanwhile revenues for these companies have declined 5.6% per year.
  • This means that the cost of doing business could be reducing since sales have declined but profits have remained steady.

Industry Trends

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

NO Market0.70%
Tech-5.42%
IT-4.70%
Data Processing Services0%0
IT Consulting-4.70%
Industry PE
  • Investors are most optimistic about the IT Consulting industry, which is trading close to its 3-year average PE ratio of 21.3x.
    • Analysts are expecting annual earnings growth of 18.6%, which is higher than its past year's earnings growth of 2.6% per year.
  • Investors are most pessimistic about the IT Consulting industry, which is trading close to its 3-year average of 21.3x.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 19% over the next 5 years.
  • This is better than its past earnings growth rate of 2.6% per year.
  • In contrast, the IT Consulting industry is expected to see its earnings grow by 19% 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
ARR Arribatec GroupNOK 9.6112.6%
+NOK 88.2m		257.2%PS1x
WSTEP WebstepNOK 18.700.5%
+NOK 2.7m		-18.7%PE10.4x

Latest News

BOUV
NOK 57.40
Bouvet
7D
-2.4%
1Y
-29.5%
ATEA
NOK 149.00
Atea
7D
-6.3%
1Y
3.5%
CYVIZ
NOK 38.10
Cyviz
7D
-3.8%
1Y
15.8%
WSTEP
NOK 18.70
Webstep
7D
0.5%
1Y
-18.7%
ITERA
NOK 7.70
Itera
7D
-3.3%
1Y
-14.8%
ARR
NOK 9.61
Arribatec Group
7D
12.6%
1Y
257.2%

ARR: Upcoming Stock Split Will Support Future Upside Despite Margin Headwinds

Analysts have modestly adjusted their price target on Arribatec Group upward, citing slightly higher long term valuation multiples despite a small downgrade to projected profit margins. This results in a new target equivalent to approximately NOK 60.00 per share.