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Norwegian (OSEAX) IT Industry Analysis

UpdatedMar 09, 2026
DataAggregated Company Financials
Companies6
  • 7D0.4%
  • 3M-8.8%
  • 1Y-3.8%
  • YTD-8.8%

Last week, the IT industry hasn't moved much but Bouvet is up 3.6% in that time. Unfortunately though, the industry is down 3.8% over the past 12 months. Earnings are forecast to grow by 12% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Mar 2026NOK 23.5bNOK 44.1bNOK 1.3b18.2x17.6x0.5x
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
Price to Earnings Ratio

19.4x


Total Market Cap: NOK 24.6bTotal 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 17.6x 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 grown 2.2% per year over the last three years.
  • Revenues for these companies have grown 2.6% per year.
  • This means that more sales are being generated by these companies overall, and subsequently their profits are increasing too.

Industry Trends

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

NO Market1.13%
Tech-1.47%
IT0.38%
IT Consulting0.38%
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 21.3x.
    • Analysts are expecting annual earnings growth of 12.4%, 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 12% 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 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
BOUV BouvetNOK 50.302.0%
+NOK 103.4m		-29.7%PE13.6x
ARR Arribatec GroupNOK 8.805.3%
+NOK 30.4m		169.9%PE24.4x
WSTEP WebstepNOK 18.201.1%
+NOK 5.4m		-23.5%PE11.8x

Latest News

ARR
NOK 8.80
Arribatec Group
7D
5.3%
1Y
169.9%
CYVIZ
NOK 37.40
Cyviz
7D
-2.3%
1Y
26.8%
ATEA
NOK 142.00
Atea
7D
-1.4%
1Y
6.8%

ATEA: High Dividend And New Tradebroker Contract Will Drive Upside

Narrative update on Atea The analyst price target for Atea is held at NOK 165, with modest adjustments to the discount rate, revenue growth assumptions, profit margin outlook and future P/E to reflect analysts' refreshed views on the company’s risk profile and earnings potential. What's in the News The Board plans to propose to the 2026 AGM an annual dividend of NOK 7.50 per share for 2025, representing a payout of about 95% of net profit after tax, citing higher profit, strong cash flow and a healthy balance sheet (company announcement).
ITERA
NOK 7.04
Itera
7D
-2.5%
1Y
-21.8%
WSTEP
NOK 18.20
Webstep
7D
1.1%
1Y
-23.5%
BOUV
NOK 50.30
Bouvet
7D
2.0%
1Y
-29.7%