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Norwegian (OSEAX) Software Industry Analysis

UpdatedJan 16, 2026
DataAggregated Company Financials
Companies10
  • 7D-1.8%
  • 3M13.4%
  • 1Y34.0%
  • YTD-0.002%

Over the last 7 days, the Software industry has dropped 4.0%, driven by a pullback from LINK Mobility Group Holding of 3.0%. In the past year, the industry has gained 33%. Earnings are forecast to grow by 48% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 16 Jan 2026NOK 24.9bNOK 10.3bNOK 857.6m40.6x29x2.4x
Sun, 14 Dec 2025NOK 24.7bNOK 10.3bNOK 859.3m40.8x28.8x2.4x
Tue, 11 Nov 2025NOK 21.5bNOK 10.2bNOK 874.1m30.6x24.6x2.1x
Thu, 09 Oct 2025NOK 22.4bNOK 10.2bNOK 850.7m33.2x26.3x2.2x
Sat, 06 Sep 2025NOK 24.6bNOK 10.2bNOK 820.5m36.9x30x2.4x
Mon, 04 Aug 2025NOK 24.3bNOK 10.3bNOK 298.4m44.4x81.5x2.4x
Wed, 02 Jul 2025NOK 35.8bNOK 17.4bNOK 596.1m43.6x60x2.1x
Fri, 30 May 2025NOK 33.2bNOK 17.4bNOK 589.3m41.4x56.3x1.9x
Sun, 27 Apr 2025NOK 29.1bNOK 17.2bNOK 578.4m38.3x50.2x1.7x
Tue, 25 Mar 2025NOK 28.5bNOK 17.2bNOK 587.4m36.6x48.5x1.7x
Thu, 20 Feb 2025NOK 29.0bNOK 17.1bNOK 493.2m38.5x58.7x1.7x
Sat, 18 Jan 2025NOK 29.3bNOK 16.9bNOK 459.1m42x63.9x1.7x
Mon, 16 Dec 2024NOK 32.0bNOK 16.9bNOK 464.8m44x68.8x1.9x
Wed, 13 Nov 2024NOK 29.4bNOK 16.9bNOK 392.2m32.8x74.9x1.7x
Fri, 11 Oct 2024NOK 36.5bNOK 18.2bNOK 342.6m48.5x106.5x2x
Sun, 08 Sep 2024NOK 34.9bNOK 18.2bNOK 332.2m49.8x105.1x1.9x
Tue, 06 Aug 2024NOK 32.3bNOK 17.7bNOK 453.7m17.2x71.1x1.8x
Thu, 04 Jul 2024NOK 33.2bNOK 17.6bNOK 446.6m19x74.4x1.9x
Sat, 01 Jun 2024NOK 33.0bNOK 17.6bNOK 431.6m19.4x76.5x1.9x
Mon, 29 Apr 2024NOK 27.6bNOK 17.0b-NOK 47,422,606.4025.1x-582.6x1.6x
Wed, 27 Mar 2024NOK 28.5bNOK 16.9b-NOK 40,120,643.9723.6x-710.7x1.7x
Fri, 23 Feb 2024NOK 26.5bNOK 16.9b-NOK 38,788,182.0722.8x-683.4x1.6x
Sun, 21 Jan 2024NOK 36.1bNOK 18.5b-NOK 735,799,626.0015.5x-49.1x2x
Tue, 19 Dec 2023NOK 35.7bNOK 18.5b-NOK 735,004,079.0016.1x-48.5x1.9x
Thu, 16 Nov 2023NOK 33.5bNOK 18.2b-NOK 650,991,179.0015.7x-51.4x1.8x
Sat, 14 Oct 2023NOK 31.4bNOK 17.9b-NOK 754,964,287.0014.5x-41.6x1.8x
Mon, 11 Sep 2023NOK 33.3bNOK 17.9b-NOK 748,530,388.0012.9x-44.5x1.9x
Wed, 09 Aug 2023NOK 35.3bNOK 16.9b-NOK 982,687,825.009.8x-35.9x2.1x
Fri, 07 Jul 2023NOK 34.2bNOK 16.9b-NOK 999,302,670.009.2x-34.2x2x
Sun, 04 Jun 2023NOK 35.7bNOK 16.9b-NOK 1,068,239,095.009.8x-33.4x2.1x
Tue, 02 May 2023NOK 30.8bNOK 16.1b-NOK 896,983,057.0030.6x-34.4x1.9x
Thu, 30 Mar 2023NOK 31.0bNOK 16.1b-NOK 1,424,414,784.0047.9x-21.7x1.9x
Sat, 25 Feb 2023NOK 33.1bNOK 16.1b-NOK 1,391,089,864.0048x-23.8x2.1x
Mon, 23 Jan 2023NOK 34.4bNOK 38.1b-NOK 711,704,732.0034.3x-48.3x0.9x
Price to Earnings Ratio

-48.3x


Total Market Cap: NOK 34.4bTotal Earnings: -NOK 711,704,732.00Total Revenue: NOK 38.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -4.9x202420252026
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 28.9x which is higher than its 3-year average PE of -4.9x.
  • The 3-year average PS ratio of 1.9x is lower than the industry's current PS ratio of 2.4x.
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 Market2.68%
Tech0.40%
Software-1.85%
Systems Software0%0
Application Software-1.85%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 47.9x.
    • Analysts are expecting annual earnings growth of 48.0%, 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 47.9x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 48% 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 48% 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
INDCT InductNOK 4.482.3%
+NOK 3.1m		-7.4%PS8.9x
SPIR Spir GroupNOK 8.460.2%
+NOK 2.7m		1.4%PE390.5x
ELABS Elliptic LaboratoriesNOK 5.820.3%
+NOK 2.1m		-45.5%PS4.3x

Latest News

SMCRT
NOK 25.30
SmartCraft
7D
-1.6%
1Y
-8.0%
LINK
NOK 33.60
LINK Mobility Group Holding
7D
-3.0%
1Y
52.7%

Is LINK Mobility Group Holding (OB:LINK) Using Too Much Debt?

Jan 15
Is LINK Mobility Group Holding (OB:LINK) Using Too Much Debt?
ELABS
NOK 5.82
Elliptic Laboratories
7D
0.3%
1Y
-45.5%

Returns At Elliptic Laboratories (OB:ELABS) Are On The Way Up

Jan 09
Returns At Elliptic Laboratories (OB:ELABS) Are On The Way Up
RIVER
NOK 3.90
River Tech
7D
-7.1%
1Y
-77.5%
SPIR
NOK 8.46
Spir Group
7D
0.2%
1Y
1.4%
PEXIP
NOK 75.00
Pexip Holding
7D
-0.7%
1Y
79.9%

PEXIP: Future Outlook Will Emphasize Stable Margins And Earnings Multiple Assumptions

Analysts have raised their price target for Pexip Holding slightly to reflect a marginally lower discount rate and a modestly more attractive future earnings multiple, resulting in only a small increase in the company’s valuation in local currency terms. Valuation Changes Fair Value Estimate remains unchanged at NOK 77.5 per share, indicating no revision to the central valuation point.
OTEC
NOK 17.25
Otello
7D
-3.6%
1Y
124.0%
AIX
NOK 3.41
Ayfie International
7D
-2.3%
1Y
-2.8%
INDCT
NOK 4.48
Induct
7D
2.3%
1Y
-7.4%