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Norwegian (OSEAX) Software Industry Analysis

UpdatedJul 05, 2026
DataAggregated Company Financials
Companies9
  • 7D11.2%
  • 3M22.4%
  • 1Y3.8%
  • YTD-8.5%

Over the last 7 days, the Software industry has risen 11%, driven by gains in Pexip Holding and LINK Mobility Group Holding of 12% and 13%, respectively. In the same time, Induct was down 15%. In the last 12 months, the industry was up 3.8%. Earnings are forecast to grow by 28% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 05 Jul 2026NOK 18.0bNOK 9.1bNOK 822.0m16.8x21.9x2x
Tue, 02 Jun 2026NOK 17.6bNOK 8.9bNOK 767.5m16.6x22.9x2x
Thu, 30 Apr 2026NOK 16.0bNOK 8.6bNOK 685.0m18.5x23.4x1.9x
Sat, 28 Mar 2026NOK 14.1bNOK 8.6bNOK 748.2m13.9x18.9x1.6x
Mon, 23 Feb 2026NOK 18.9bNOK 10.1bNOK 928.7m27x20.4x1.9x
Wed, 21 Jan 2026NOK 24.6bNOK 10.3bNOK 851.7m39.4x28.9x2.4x
Fri, 19 Dec 2025NOK 24.4bNOK 10.3bNOK 860.5m40.3x28.4x2.4x
Sun, 16 Nov 2025NOK 20.9bNOK 10.2bNOK 837.3m29.9x25x2x
Tue, 14 Oct 2025NOK 21.8bNOK 10.2bNOK 855.9m32.4x25.5x2.1x
Thu, 11 Sep 2025NOK 24.8bNOK 10.1bNOK 787.6m41.1x31.5x2.5x
Sat, 09 Aug 2025NOK 24.3bNOK 10.3bNOK 298.4m43x81.5x2.4x
Mon, 07 Jul 2025NOK 35.9bNOK 17.4bNOK 596.1m43.8x60.3x2.1x
Wed, 04 Jun 2025NOK 33.5bNOK 17.4bNOK 589.0m41.9x56.9x1.9x
Fri, 02 May 2025NOK 29.7bNOK 17.2bNOK 577.8m40.3x51.5x1.7x
Sun, 30 Mar 2025NOK 28.2bNOK 17.2bNOK 587.8m36.6x48x1.6x
Tue, 25 Feb 2025NOK 29.2bNOK 17.1bNOK 542.2m38.7x53.9x1.7x
Thu, 23 Jan 2025NOK 29.6bNOK 16.9bNOK 462.4m40.9x64x1.7x
Sat, 21 Dec 2024NOK 30.7bNOK 16.9bNOK 461.4m40.5x66.5x1.8x
Mon, 18 Nov 2024NOK 29.9bNOK 16.9bNOK 451.8m40.1x66.2x1.8x
Wed, 16 Oct 2024NOK 36.8bNOK 18.2bNOK 340.7m47.7x108.1x2x
Fri, 13 Sep 2024NOK 34.7bNOK 18.2bNOK 332.0m45.8x104.6x1.9x
Sun, 11 Aug 2024NOK 33.2bNOK 17.7bNOK 451.0m18.2x73.7x1.9x
Tue, 09 Jul 2024NOK 34.5bNOK 17.6bNOK 447.5m18.5x77.1x2x
Thu, 06 Jun 2024NOK 32.2bNOK 17.6bNOK 432.8m19.1x74.4x1.8x
Sat, 04 May 2024NOK 29.2bNOK 17.0bNOK 38.8m43.6x753.3x1.7x
Mon, 01 Apr 2024NOK 28.6bNOK 16.9b-NOK 39,669,263.0723.5x-720.9x1.7x
Wed, 28 Feb 2024NOK 26.4bNOK 16.9b-NOK 38,348,125.1122.6x-689x1.6x
Fri, 26 Jan 2024NOK 36.9bNOK 18.5b-NOK 735,938,136.0017.6x-50.1x2x
Sun, 24 Dec 2023NOK 35.2bNOK 18.5b-NOK 733,037,411.0015.7x-48x1.9x
Tue, 21 Nov 2023NOK 33.4bNOK 18.2b-NOK 653,253,041.0015.3x-51.1x1.8x
Thu, 19 Oct 2023NOK 32.0bNOK 17.9b-NOK 755,505,112.0015.5x-42.3x1.8x
Sat, 16 Sep 2023NOK 32.4bNOK 17.9b-NOK 748,870,027.0012.9x-43.3x1.8x
Mon, 14 Aug 2023NOK 35.8bNOK 16.9b-NOK 919,334,915.0011x-39x2.1x
Wed, 12 Jul 2023NOK 33.8bNOK 16.9b-NOK 993,626,121.009x-34x2x
Price to Earnings Ratio

-34x


Total Market Cap: NOK 33.8bTotal Earnings: -NOK 993,626,121.00Total Revenue: NOK 16.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average 3.8x202420252026
Current Industry PE
  • Investors are optimistic on the Norwegian Software industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 21.9x which is higher than its 3-year average PE of 3.8x.
  • 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 19% 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 Market2.34%
Tech4.43%
Software11.20%
Application Software11.20%
Systems Software0%0
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 55.1x.
    • Analysts are expecting annual earnings growth of 28.4%, which is higher than its past year's earnings decline of 20.6% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 55.1x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 28% over the next 5 years.
  • This is better than its past earnings decline of 21% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 28% 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
PEXIP Pexip HoldingNOK 84.2011.7%
+NOK 918.6m		41.0%PE31.3x
LINK LINK Mobility Group HoldingNOK 26.3813.4%
+NOK 880.8m		-5.8%PE56.2x
OTEC OtelloNOK 17.321.9%
+NOK 21.9m		39.7%PE2.3x
ACED Ace DigitalNOK 0.458.1%
+NOK 4.3m		n/aPS0.9x

Latest News

PEXIP
NOK 84.20
Pexip Holding
7D
11.7%
1Y
41.0%
New Narrative • Jul 04

Sovereign Cloud Demand And AI Adoption Will Support Strong Long Term Upside Potential

Catalysts About Pexip Holding Pexip Holding provides software based video conferencing infrastructure focused on secure, customizable deployments and interoperability across major meeting platforms. What are the underlying business or industry changes driving this perspective?
ACED
NOK 0.45
Ace Digital
7D
8.1%
1Y
n/a
LINK
NOK 26.38
LINK Mobility Group Holding
7D
13.4%
1Y
-5.8%
Narrative Update • Jun 30

LINK: Buybacks And Active M&A Will Support Future Share Price Re‑Rating

Analysts have raised their price target on LINK Mobility Group Holding from NOK 30.25 to NOK 34.80, citing updated assumptions for discount rate, revenue growth, profit margin and future P/E that together indicate a higher fair value estimate. What’s in the News for LINK Mobility Group Holding An undisclosed buyer acquired a 13.3% stake in LINK Mobility Group Holding ASA from Victory Partners Viii Limited for NOK 1.1b, at NOK 26.75 per share for 40,540,774 shares.
ELABS
NOK 2.91
Elliptic Laboratories
7D
-1.4%
1Y
-77.8%
Narrative Update • Jun 24

ELABS: Expanding Smartphone And Laptop Deployments Will Drive Future Upside

Analysts have made a small adjustment to their Elliptic Laboratories price target in NOK, reflecting minor tweaks to assumptions for discount rate, revenue growth, profit margin and future P/E while keeping fair value effectively unchanged. What’s in the News for Elliptic Laboratories Elliptic Laboratories signed a contract with an existing Top 3 global smartphone vendor to deploy its AI Virtual Proximity Sensor INNER BEAUTY across eight smartphone models, expanding software based proximity sensing within that customer.
INDCT
NOK 0.90
Induct
7D
-15.5%
1Y
-76.6%
OTEC
NOK 17.32
Otello
7D
1.9%
1Y
39.7%