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Norwegian (OSEAX) IT Industry Analysis

UpdatedMar 15, 2026
DataAggregated Company Financials
Companies6
  • 7D-2.3%
  • 3M-14.6%
  • 1Y-5.0%
  • YTD-10.8%

Over the last 7 days, the IT industry has dropped 2.3%, driven by Atea declining 1.7%. On the other hand Itera is actually up 6.3%. However, the industry is down 5.0% over the past year. Looking forward, earnings are forecast to grow by 13% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 15 Mar 2026NOK 22.9bNOK 44.1bNOK 1.3b17.9x17.2x0.5x
Tue, 10 Feb 2026NOK 24.7bNOK 43.6bNOK 1.2b20.7x20.2x0.6x
Thu, 08 Jan 2026NOK 25.5bNOK 43.6bNOK 1.2b21.7x20.8x0.6x
Sat, 06 Dec 2025NOK 25.5bNOK 43.6bNOK 1.2b21.4x20.8x0.6x
Mon, 03 Nov 2025NOK 25.8bNOK 43.6bNOK 1.2b19.2x21x0.6x
Wed, 01 Oct 2025NOK 25.0bNOK 43.2bNOK 1.2b19.1x21.4x0.6x
Fri, 29 Aug 2025NOK 24.8bNOK 43.2bNOK 1.2b19.2x21.2x0.6x
Sun, 27 Jul 2025NOK 25.8bNOK 43.2bNOK 1.2b20.8x21.7x0.6x
Tue, 24 Jun 2025NOK 27.1bNOK 42.5bNOK 1.2b22.5x23.2x0.6x
Thu, 22 May 2025NOK 27.0bNOK 42.4bNOK 1.1b22x23.7x0.6x
Sat, 19 Apr 2025NOK 25.2bNOK 41.4bNOK 1.2b20.7x21.4x0.6x
Mon, 17 Mar 2025NOK 24.1bNOK 41.4bNOK 1.2b19.4x20.5x0.6x
Wed, 12 Feb 2025NOK 24.8bNOK 41.5bNOK 1.2b20.5x21.5x0.6x
Fri, 10 Jan 2025NOK 25.6bNOK 40.2bNOK 1.2b20.9x22.3x0.6x
Sun, 08 Dec 2024NOK 24.8bNOK 40.2bNOK 1.2b19.9x21.5x0.6x
Tue, 05 Nov 2024NOK 24.7bNOK 40.1bNOK 1.1b20x21.6x0.6x
Thu, 03 Oct 2024NOK 28.5bNOK 43.4bNOK 1.2b19.7x23.1x0.7x
Sat, 31 Aug 2024NOK 30.0bNOK 43.4bNOK 1.2b21.2x24.3x0.7x
Mon, 29 Jul 2024NOK 27.9bNOK 43.3bNOK 1.2b27.6x23x0.6x
Wed, 26 Jun 2024NOK 29.5bNOK 43.8bNOK 1.3b28x23.3x0.7x
Fri, 24 May 2024NOK 28.4bNOK 43.8bNOK 1.3b26.9x22.3x0.6x
Sun, 21 Apr 2024NOK 26.3bNOK 44.7bNOK 1.3b24.2x20.6x0.6x
Tue, 19 Mar 2024NOK 25.9bNOK 44.7bNOK 1.3b24.5x20.3x0.6x
Thu, 15 Feb 2024NOK 26.4bNOK 44.4bNOK 1.3b18.5x20.3x0.6x
Sat, 13 Jan 2024NOK 26.8bNOK 44.8bNOK 1.3b17x20x0.6x
Mon, 11 Dec 2023NOK 24.9bNOK 44.8bNOK 1.3b15.7x18.6x0.6x
Wed, 08 Nov 2023NOK 24.7bNOK 44.6bNOK 1.4b16.5x18.1x0.6x
Fri, 06 Oct 2023NOK 25.9bNOK 44.9bNOK 1.4b16.8x18.9x0.6x
Sun, 03 Sep 2023NOK 26.8bNOK 44.9bNOK 1.4b17.5x19.6x0.6x
Tue, 01 Aug 2023NOK 28.4bNOK 44.5bNOK 1.3b19.5x21.1x0.6x
Thu, 29 Jun 2023NOK 29.6bNOK 43.2bNOK 1.4b20.5x21.6x0.7x
Sat, 27 May 2023NOK 29.5bNOK 43.2bNOK 1.4b21.1x21.5x0.7x
Mon, 24 Apr 2023NOK 26.9bNOK 40.9bNOK 1.3b21.8x21.2x0.7x
Wed, 22 Mar 2023NOK 25.2bNOK 40.9bNOK 1.3b19.2x19.9x0.6x
Price to Earnings Ratio

19.9x


Total Market Cap: NOK 25.2bTotal Earnings: NOK 1.3bTotal Revenue: NOK 40.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian IT Industry Price to Earnings3Y Average 21.3x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian IT 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 17.2x which is lower than its 3-year average PE 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 grown 2.6% per year.
  • This means that although more sales are being generated, either the cost of doing business or the level of investment back into businesses has increased and as a result, profits have held steady.

Industry Trends

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

NO Market2.29%
Tech-0.38%
IT-2.28%
Data Processing Services0%0
IT Consulting-2.28%
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 21.3x.
    • Analysts are expecting annual earnings growth of 12.5%, which is higher than its past year's earnings decline of 6.5% per year.
  • Investors are most pessimistic about the IT Consulting industry, which is trading below its 3-year average of 21.3x.
Forecasted Growth
  • Analysts are most optimistic on the IT Consulting industry, expecting annual earnings growth of 13% over the next 5 years.
  • This is better than its past earnings decline of 6.5% per year.
  • In contrast, the IT Consulting 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
ITERA IteraNOK 7.486.3%
+NOK 36.0m		-16.9%PE26.6x

Latest News

ARR
NOK 6.64
Arribatec Group
7D
-26.8%
1Y
117.7%
ATEA
NOK 141.40
Atea
7D
-1.7%
1Y
7.1%

ATEA: Planned 2026 Dividend Payout Will Support Further Share Upside

Analysts have kept their price target for Atea steady at NOK 165. This reflects only minor tweaks to assumptions around discount rate, revenue growth, profit margin and future P/E, rather than a shift in their overall view of the shares.
CYVIZ
NOK 36.60
Cyviz
7D
-2.4%
1Y
22.8%
ITERA
NOK 7.48
Itera
7D
6.3%
1Y
-16.9%
WSTEP
NOK 17.40
Webstep
7D
-2.2%
1Y
-29.6%
BOUV
NOK 49.80
Bouvet
7D
-2.2%
1Y
-30.6%