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Norwegian (OSEAX) Software Industry Analysis

UpdatedFeb 06, 2026
DataAggregated Company Financials
Companies10
  • 7D-13.9%
  • 3M-0.9%
  • 1Y8.9%
  • YTD-15.1%

Over the last 7 days, the Software industry has dropped 15%, driven by a pullback from LINK Mobility Group Holding of 27%. In contrast, Ayfie International has gained 12%. In the past year, the industry has gained 11%. Earnings are forecast to grow by 38% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 06 Feb 2026NOK 21.1bNOK 10.3bNOK 841.5m34.8x25.1x2.1x
Sun, 04 Jan 2026NOK 24.9bNOK 10.3bNOK 856.1m40.3x29.1x2.4x
Tue, 02 Dec 2025NOK 22.2bNOK 10.3bNOK 858.4m35x25.9x2.2x
Thu, 30 Oct 2025NOK 22.8bNOK 10.2bNOK 852.7m33.1x26.8x2.2x
Sat, 27 Sep 2025NOK 22.7bNOK 10.2bNOK 850.8m35.2x26.7x2.2x
Mon, 25 Aug 2025NOK 24.3bNOK 10.2bNOK 836.5m36.6x29.1x2.4x
Wed, 23 Jul 2025NOK 24.0bNOK 10.3bNOK 302.0m45.5x79.4x2.3x
Fri, 20 Jun 2025NOK 35.2bNOK 17.4bNOK 591.4m44.1x59.5x2x
Sun, 18 May 2025NOK 32.7bNOK 17.3bNOK 557.5m41.4x58.6x1.9x
Tue, 15 Apr 2025NOK 28.0bNOK 17.2bNOK 593.6m36.6x47.2x1.6x
Thu, 13 Mar 2025NOK 27.8bNOK 17.2bNOK 587.1m36.9x47.3x1.6x
Sat, 08 Feb 2025NOK 28.8bNOK 16.9bNOK 461.7m43.2x62.3x1.7x
Mon, 06 Jan 2025NOK 31.0bNOK 16.9bNOK 460.1m40.8x67.4x1.8x
Wed, 04 Dec 2024NOK 30.8bNOK 16.9bNOK 455.5m40.9x67.7x1.8x
Fri, 01 Nov 2024NOK 36.5bNOK 18.2bNOK 338.1m46x108x2x
Sun, 29 Sep 2024NOK 36.4bNOK 18.2bNOK 348.0m49.5x104.6x2x
Tue, 27 Aug 2024NOK 34.8bNOK 18.0bNOK 282.4m31.5x123.3x1.9x
Thu, 25 Jul 2024NOK 34.6bNOK 17.7bNOK 452.4m19.1x76.5x2x
Sat, 22 Jun 2024NOK 32.6bNOK 17.6bNOK 447.2m19.3x73x1.9x
Mon, 20 May 2024NOK 32.0bNOK 17.6bNOK 433.6m19.6x73.9x1.8x
Wed, 17 Apr 2024NOK 26.4bNOK 17.0b-NOK 55,930,127.7023.6x-472.4x1.6x
Fri, 15 Mar 2024NOK 26.9bNOK 16.9b-NOK 37,780,630.7423x-711.6x1.6x
Sun, 11 Feb 2024NOK 27.8bNOK 16.6bNOK 20.4m25.2x1362.5x1.7x
Tue, 09 Jan 2024NOK 35.0bNOK 18.5b-NOK 734,296,303.0015.8x-47.7x1.9x
Thu, 07 Dec 2023NOK 34.3bNOK 18.5b-NOK 748,827,682.0015.6x-45.8x1.9x
Sat, 04 Nov 2023NOK 31.1bNOK 17.9b-NOK 748,598,051.0015.3x-41.6x1.7x
Mon, 02 Oct 2023NOK 31.5bNOK 17.9b-NOK 752,313,542.0014.9x-41.9x1.8x
Wed, 30 Aug 2023NOK 32.7bNOK 17.9b-NOK 752,830,163.0013.1x-43.4x1.8x
Fri, 28 Jul 2023NOK 36.0bNOK 16.9b-NOK 978,044,504.009.7x-36.8x2.1x
Sun, 25 Jun 2023NOK 34.5bNOK 16.9b-NOK 999,859,721.009.9x-34.5x2x
Tue, 23 May 2023NOK 33.0bNOK 16.5b-NOK 934,186,116.0026.9x-35.3x2x
Thu, 20 Apr 2023NOK 30.9bNOK 16.1b-NOK 1,441,999,746.0049.5x-21.4x1.9x
Sat, 18 Mar 2023NOK 30.5bNOK 16.1b-NOK 1,442,620,909.0044.4x-21.1x1.9x
Mon, 13 Feb 2023NOK 35.0bNOK 38.1b-NOK 745,527,532.0033.5x-46.9x0.9x
Price to Earnings Ratio

-46.9x


Total Market Cap: NOK 35.0bTotal Earnings: -NOK 745,527,532.00Total Revenue: NOK 38.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -3.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Software 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 25.4x which is higher than its 3-year average PE of -3.4x.
  • The industry is trading close to its 3-year average PS ratio of 1.9x.
Past Earnings Growth
  • Total earnings for the Software industry have gone up over the last three years and the industry is now profitable.
  • Revenues have declined 35% per year.
  • This means that less sales are being generated overall, but since the cost of doing business is lower, profits have been increasing.

Industry Trends

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

NO Market0.24%
Tech-0.21%
Software-13.86%
Systems Software0%0
Application Software-13.86%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 48.9x.
    • Analysts are expecting annual earnings growth of 37.6%, which is higher than its past year's earnings decline of 22.7% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 48.9x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 38% over the next 5 years.
  • This is better than its past earnings decline of 23% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 38% 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
SPIR Spir GroupNOK 8.520.9%
+NOK 10.6m		-1.8%PE393.3x
AIX Ayfie InternationalNOK 4.293.9%
+NOK 4.0m		8.6%n/a
RIVER River TechNOK 4.040.5%
+NOK 411.0k		-78.7%PE1.2x

Latest News

PEXIP
NOK 72.80
Pexip Holding
7D
-4.6%
1Y
59.5%

PEXIP: Future Outlook Will Emphasize Fair Value Margins And Earnings Multiple

Analysts have adjusted their price target for Pexip Holding to reflect updated assumptions around slightly higher revenue growth, a lower profit margin profile, and a higher future P/E multiple. Valuation Changes Fair Value: Kept unchanged at 77.5, indicating no revision to the central value estimate.
LINK
NOK 25.35
LINK Mobility Group Holding
7D
-24.1%
1Y
7.2%
ELABS
NOK 4.30
Elliptic Laboratories
7D
-13.4%
1Y
-59.6%

Elliptic Laboratories ASA (OB:ELABS) Stock's 27% Dive Might Signal An Opportunity But It Requires Some Scrutiny

Jan 30
Elliptic Laboratories ASA (OB:ELABS) Stock's 27% Dive Might Signal An Opportunity But It Requires Some Scrutiny
SMCRT
NOK 19.00
SmartCraft
7D
-16.3%
1Y
-28.8%
RIVER
NOK 4.04
River Tech
7D
0.5%
1Y
-78.7%
SPIR
NOK 8.52
Spir Group
7D
0.9%
1Y
-1.8%
OTEC
NOK 17.75
Otello
7D
-3.3%
1Y
134.2%
AIX
NOK 4.29
Ayfie International
7D
3.9%
1Y
8.6%