Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Norwegian (OSEAX) Software Industry Analysis

UpdatedAug 19, 2026
DataAggregated Company Financials
Companies8
  • 7D-1.9%
  • 3M-3.7%
  • 1Y-11.9%
  • YTD-11.6%

Over the last 7 days, the Software industry has dropped 1.9%, driven by a pullback from Pexip Holding of 5.9%. The industry has fallen 12% in the last year. Earnings are forecast to grow by 30% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 20 Aug 2026NOK 17.4bNOK 9.1bNOK 792.2m15.9x22x1.9x
Sat, 18 Jul 2026NOK 17.3bNOK 9.1bNOK 805.3m16.3x21.5x1.9x
Mon, 15 Jun 2026NOK 16.3bNOK 9.0bNOK 765.3m15.7x21.2x1.8x
Wed, 13 May 2026NOK 18.1bNOK 8.6bNOK 729.0m17.3x24.8x2.1x
Fri, 10 Apr 2026NOK 14.8bNOK 8.6bNOK 694.3m16.7x21.3x1.7x
Sun, 08 Mar 2026NOK 18.9bNOK 10.1bNOK 799.6m26.3x23.6x1.9x
Tue, 03 Feb 2026NOK 24.4bNOK 10.3bNOK 839.1m37.8x29.1x2.4x
Thu, 01 Jan 2026NOK 25.4bNOK 10.3bNOK 856.9m41.2x29.7x2.5x
Sat, 29 Nov 2025NOK 22.2bNOK 10.3bNOK 857.8m35.4x25.9x2.2x
Mon, 27 Oct 2025NOK 22.2bNOK 10.2bNOK 852.4m32.9x26x2.2x
Wed, 24 Sep 2025NOK 23.4bNOK 10.2bNOK 847.4m36.4x27.7x2.3x
Fri, 22 Aug 2025NOK 24.5bNOK 10.2bNOK 265.5m37x92.4x2.4x
Sun, 20 Jul 2025NOK 23.5bNOK 10.3bNOK 299.7m45.5x78.6x2.3x
Tue, 17 Jun 2025NOK 35.4bNOK 17.4bNOK 593.4m44.4x59.6x2x
Thu, 15 May 2025NOK 32.5bNOK 17.3bNOK 562.3m39.9x57.8x1.9x
Sat, 12 Apr 2025NOK 27.4bNOK 17.2bNOK 592.2m34.5x46.2x1.6x
Mon, 10 Mar 2025NOK 28.2bNOK 17.2bNOK 584.6m39x48.3x1.6x
Wed, 05 Feb 2025NOK 28.1bNOK 16.9bNOK 462.5m41.5x60.7x1.7x
Fri, 03 Jan 2025NOK 30.7bNOK 16.9bNOK 459.4m40.9x66.8x1.8x
Sun, 01 Dec 2024NOK 30.6bNOK 16.9bNOK 456.3m41.7x67.1x1.8x
Tue, 29 Oct 2024NOK 36.4bNOK 18.2bNOK 337.7m44.9x107.7x2x
Thu, 26 Sep 2024NOK 36.6bNOK 18.2bNOK 346.5m49.3x105.6x2x
Sat, 24 Aug 2024NOK 35.3bNOK 18.0bNOK 283.8m30.7x124.2x2x
Mon, 22 Jul 2024NOK 34.8bNOK 17.7bNOK 451.7m18.6x77x2x
Wed, 19 Jun 2024NOK 32.3bNOK 17.6bNOK 447.7m18.7x72.2x1.8x
Fri, 17 May 2024NOK 32.0bNOK 17.6bNOK 438.6m19.6x73x1.8x
Sun, 14 Apr 2024NOK 27.2bNOK 17.0b-NOK 49,363,587.2122.5x-551.1x1.6x
Tue, 12 Mar 2024NOK 26.4bNOK 16.9b-NOK 38,382,385.5523.6x-687.7x1.6x
Thu, 08 Feb 2024NOK 26.9bNOK 16.5bNOK 28.5m25.7x941.1x1.6x
Sat, 06 Jan 2024NOK 34.9bNOK 18.5b-NOK 733,895,659.0015.5x-47.5x1.9x
Mon, 04 Dec 2023NOK 34.4bNOK 18.5b-NOK 751,655,430.0015.6x-45.8x1.9x
Wed, 01 Nov 2023NOK 30.4bNOK 17.9b-NOK 755,878,405.0014.5x-40.2x1.7x
Fri, 29 Sep 2023NOK 31.2bNOK 17.9b-NOK 752,340,864.0014.6x-41.5x1.7x
Sun, 27 Aug 2023NOK 32.4bNOK 17.9b-NOK 753,239,036.0013x-43x1.8x
Price to Earnings Ratio

-43x


Total Market Cap: NOK 32.4bTotal Earnings: -NOK 753,239,036.00Total Revenue: NOK 17.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average 6.2x202420252026
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 22.0x which is higher than its 3-year average PE of 6.1x.
  • 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 20% 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 Market1.36%
Tech-2.11%
Software-1.86%
Systems Software0%0
Application Software-1.86%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 57.2x.
    • Analysts are expecting annual earnings growth of 30.3%, 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 57.2x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 30% 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 30% 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
LINK LINK Mobility Group HoldingNOK 26.181.5%
+NOK 107.3m		-22.0%PE55.7x
ELABS Elliptic LaboratoriesNOK 2.574.5%
+NOK 13.9m		-78.4%PS3.5x
AIX Ayfie InternationalNOK 3.507.7%
+NOK 6.3m		-40.7%n/a
INDCT InductNOK 0.900.7%
+NOK 187.9k		-74.7%PS2.1x

Latest News

PEXIP
NOK 76.40
Pexip Holding
7D
-5.9%
1Y
22.6%
INDCT
NOK 0.90
Induct
7D
0.7%
1Y
-74.7%
AIX
NOK 3.50
Ayfie International
7D
7.7%
1Y
-40.7%
ACED
NOK 0.35
Ace Digital
7D
-2.8%
1Y
n/a
LINK
NOK 26.18
LINK Mobility Group Holding
7D
1.5%
1Y
-22.0%
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 2.57
Elliptic Laboratories
7D
4.5%
1Y
-78.4%
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.
OTEC
NOK 17.20
Otello
7D
-4.0%
1Y
30.3%