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Norwegian (OSEAX) IT Industry Analysis

UpdatedApr 15, 2026
DataAggregated Company Financials
Companies6
  • 7D1.9%
  • 3M-12.1%
  • 1Y-6.9%
  • YTD-9.5%

Over the last 7 days, the IT industry has risen 1.9%, driven by gains in Bouvet and Atea of 3.8% and 1.1%, respectively. In contrast, the industry has lost 6.9% in the last 12 months. 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
Wed, 15 Apr 2026NOK 23.2bNOK 44.1bNOK 1.3b18.1x17.4x0.5x
Fri, 13 Mar 2026NOK 23.2bNOK 44.1bNOK 1.3b18x17.4x0.5x
Sun, 08 Feb 2026NOK 24.5bNOK 43.6bNOK 1.2b20.4x20x0.6x
Tue, 06 Jan 2026NOK 25.3bNOK 43.6bNOK 1.2b21.4x20.6x0.6x
Thu, 04 Dec 2025NOK 25.2bNOK 43.6bNOK 1.2b21.1x20.5x0.6x
Sat, 01 Nov 2025NOK 25.8bNOK 43.6bNOK 1.2b19.2x21.4x0.6x
Mon, 29 Sep 2025NOK 24.7bNOK 43.2bNOK 1.2b18.9x21.1x0.6x
Wed, 27 Aug 2025NOK 25.3bNOK 43.2bNOK 1.2b19.6x21.5x0.6x
Fri, 25 Jul 2025NOK 26.1bNOK 43.2bNOK 1.2b20.2x21.9x0.6x
Sun, 22 Jun 2025NOK 27.3bNOK 42.5bNOK 1.2b22.6x23.3x0.6x
Tue, 20 May 2025NOK 27.2bNOK 42.4bNOK 1.1b22.5x23.8x0.6x
Thu, 17 Apr 2025NOK 25.2bNOK 41.4bNOK 1.2b20.7x21.4x0.6x
Sat, 15 Mar 2025NOK 24.1bNOK 41.4bNOK 1.2b19.4x20.4x0.6x
Mon, 10 Feb 2025NOK 25.4bNOK 41.5bNOK 1.2b21x22x0.6x
Wed, 08 Jan 2025NOK 25.5bNOK 40.2bNOK 1.2b20.9x22.2x0.6x
Fri, 06 Dec 2024NOK 24.9bNOK 40.2bNOK 1.2b20x21.7x0.6x
Sun, 03 Nov 2024NOK 24.2bNOK 40.1bNOK 1.1b19.6x21.2x0.6x
Tue, 01 Oct 2024NOK 29.0bNOK 43.4bNOK 1.2b20x23.5x0.7x
Thu, 29 Aug 2024NOK 29.4bNOK 43.5bNOK 1.2b32.5x23.6x0.7x
Sat, 27 Jul 2024NOK 27.9bNOK 43.3bNOK 1.2b27.6x23x0.6x
Mon, 24 Jun 2024NOK 29.7bNOK 43.8bNOK 1.3b28x23.4x0.7x
Wed, 22 May 2024NOK 28.6bNOK 43.7bNOK 1.3b26.5x22.6x0.7x
Fri, 19 Apr 2024NOK 26.3bNOK 44.7bNOK 1.3b23.7x20.6x0.6x
Sun, 17 Mar 2024NOK 25.8bNOK 44.7bNOK 1.3b24.1x20.2x0.6x
Tue, 13 Feb 2024NOK 26.5bNOK 44.4bNOK 1.3b18.1x20.5x0.6x
Thu, 11 Jan 2024NOK 26.6bNOK 44.8bNOK 1.3b17x19.8x0.6x
Sat, 09 Dec 2023NOK 24.9bNOK 44.8bNOK 1.3b15.7x18.6x0.6x
Mon, 06 Nov 2023NOK 24.9bNOK 44.6bNOK 1.4b16.6x18.2x0.6x
Wed, 04 Oct 2023NOK 26.4bNOK 44.9bNOK 1.4b17.1x19.3x0.6x
Fri, 01 Sep 2023NOK 26.6bNOK 44.8bNOK 1.4b17.4x19.6x0.6x
Sun, 30 Jul 2023NOK 28.2bNOK 44.5bNOK 1.3b19.1x21x0.6x
Tue, 27 Jun 2023NOK 30.5bNOK 43.2bNOK 1.4b20.8x22.2x0.7x
Thu, 25 May 2023NOK 30.1bNOK 43.2bNOK 1.4b21.5x21.9x0.7x
Sat, 22 Apr 2023NOK 26.9bNOK 40.9bNOK 1.3b21.8x21.2x0.7x
Price to Earnings Ratio

21.2x


Total Market Cap: NOK 26.9bTotal Earnings: NOK 1.3bTotal Revenue: NOK 40.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian IT Industry Price to Earnings3Y Average 21.2x202420252026
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 17.4x which is lower than its 3-year average PE of 21.2x.
  • The industry is trading close to its 3-year average PS ratio of 0.61x.
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 Market-2.83%
Tech8.98%
IT1.89%
IT Consulting1.89%
Data Processing Services0%0
Industry PE
  • Investors are most optimistic about the IT Consulting industry even though it's trading below its 3-year average PE ratio of 21.2x.
    • Analysts are expecting annual earnings growth of 12.7%, 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 21.2x.
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
ARR Arribatec GroupNOK 7.609.5%
+NOK 44.1m		107.7%PE20.6x
BOUV BouvetNOK 51.400.8%
+NOK 40.9m		-34.7%PE13.8x
ITERA IteraNOK 7.141.4%
+NOK 8.1m		-23.9%PE25.1x

Latest News

ATEA
NOK 143.20
Atea
7D
-0.4%
1Y
5.9%

ATEA: Anticipated 2026 Dividend Plan Will Support Further Share Upside

Analysts have kept Atea's fair value target broadly unchanged at NOK 165.0, with small tweaks to assumptions around the discount rate, revenue growth, profit margin and future P/E to reflect updated views on the company’s risk profile and earnings power. What's in the News The Board of Directors plans to propose an increase in the annual dividend to NOK 7.50 per share for approval at the 2026 AGM, corresponding to about 95% of Atea's net profit after tax in 2025 (Key Developments).
CYVIZ
NOK 33.00
Cyviz
7D
-2.9%
1Y
10.0%
ARR
NOK 7.60
Arribatec Group
7D
9.5%
1Y
107.7%
ITERA
NOK 7.14
Itera
7D
1.4%
1Y
-23.9%
BOUV
NOK 51.40
Bouvet
7D
0.8%
1Y
-34.7%