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Norwegian (OSEAX) Software Industry Analysis

UpdatedJul 17, 2025
DataAggregated Company Financials
Companies11
  • 7D3.5%
  • 3M31.0%
  • 1Y34.4%
  • YTD21.1%

In the last week, the Software industry is up 2.1%, with Spir Group up 18%. During this same period, the Ayfie International underperformed, falling 5.8%. In the last 12 months, the industry was up 33%. As for the next few years, earnings are expected to grow by 36% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 17 Jul 2025NOK 23.8bNOK 10.3bNOK 299.0m45.6x79.5x2.3x
Sat, 14 Jun 2025NOK 34.8bNOK 17.4bNOK 593.5m43.6x58.6x2x
Mon, 12 May 2025NOK 31.3bNOK 17.2bNOK 567.3m39.8x55.3x1.8x
Wed, 09 Apr 2025NOK 26.8bNOK 17.2bNOK 584.5m34.2x45.9x1.6x
Fri, 07 Mar 2025NOK 28.0bNOK 17.2bNOK 584.2m38.8x48x1.6x
Sun, 02 Feb 2025NOK 28.7bNOK 16.9bNOK 461.2m42.2x62.2x1.7x
Tue, 31 Dec 2024NOK 30.3bNOK 16.9bNOK 460.8m41.7x65.9x1.8x
Thu, 28 Nov 2024NOK 29.6bNOK 16.9bNOK 453.1m41.5x65.4x1.7x
Sat, 26 Oct 2024NOK 36.2bNOK 18.2bNOK 338.4m45.1x107x2x
Mon, 23 Sep 2024NOK 36.5bNOK 18.2bNOK 348.2m46.6x104.8x2x
Wed, 21 Aug 2024NOK 34.7bNOK 18.0bNOK 543.5m15.3x63.8x1.9x
Fri, 19 Jul 2024NOK 35.1bNOK 17.7bNOK 450.9m18.4x77.8x2x
Sun, 16 Jun 2024NOK 32.0bNOK 17.6bNOK 448.3m18.7x71.3x1.8x
Tue, 14 May 2024NOK 31.3bNOK 17.6bNOK 440.9m19.4x70.9x1.8x
Thu, 11 Apr 2024NOK 27.2bNOK 17.0b-NOK 49,173,408.9322.8x-554.1x1.6x
Sat, 09 Mar 2024NOK 26.3bNOK 16.9b-NOK 38,565,190.4923.6x-682.7x1.6x
Mon, 05 Feb 2024NOK 36.5bNOK 18.5b-NOK 733,558,082.0017.6x-49.8x2x
Wed, 03 Jan 2024NOK 35.3bNOK 18.5b-NOK 734,197,621.0015.9x-48x1.9x
Fri, 01 Dec 2023NOK 34.2bNOK 18.5b-NOK 752,136,187.0015.4x-45.4x1.9x
Sun, 29 Oct 2023NOK 30.4bNOK 17.9b-NOK 756,088,741.0014.6x-40.2x1.7x
Tue, 26 Sep 2023NOK 31.4bNOK 17.9b-NOK 752,907,296.0014.6x-41.7x1.8x
Thu, 24 Aug 2023NOK 34.6bNOK 17.5b-NOK 838,676,164.0013.3x-41.2x2x
Sat, 22 Jul 2023NOK 35.0bNOK 16.9b-NOK 978,936,452.009.6x-35.7x2.1x
Mon, 19 Jun 2023NOK 35.4bNOK 16.9b-NOK 1,060,831,969.0010.2x-33.3x2.1x
Wed, 17 May 2023NOK 32.9bNOK 16.5b-NOK 804,096,945.0030.9x-40.9x2x
Fri, 14 Apr 2023NOK 31.6bNOK 16.1b-NOK 1,427,627,106.0050.5x-22.1x2x
Sun, 12 Mar 2023NOK 32.0bNOK 16.1b-NOK 1,444,386,522.0042.7x-22.1x2x
Tue, 07 Feb 2023NOK 36.0bNOK 38.1b-NOK 735,005,895.0034.6x-49x0.9x
Thu, 05 Jan 2023NOK 35.2bNOK 38.1b-NOK 722,648,718.0036.3x-48.7x0.9x
Sat, 03 Dec 2022NOK 35.2bNOK 38.0b-NOK 698,587,006.0030.4x-50.4x0.9x
Mon, 31 Oct 2022NOK 31.2bNOK 37.8b-NOK 866,516,637.0035.6x-36.1x0.8x
Wed, 28 Sep 2022NOK 31.1bNOK 37.0b-NOK 957,732,731.0037.7x-32.5x0.8x
Fri, 26 Aug 2022NOK 34.3bNOK 36.9b-NOK 902,553,251.0050.3x-38x0.9x
Sun, 24 Jul 2022NOK 39.9bNOK 36.3b-NOK 1,019,173,681.0059x-39.2x1.1x
Price to Earnings Ratio

-39.2x


Total Market Cap: NOK 39.9bTotal Earnings: -NOK 1,019,173,681.00Total Revenue: NOK 36.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -18.1x202320242025
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 78.6x which is higher than its 3-year average PE of -18.2x.
  • The 3-year average PS ratio of 1.7x is lower than the industry's current PS ratio of 2.3x.
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 34% 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 Market-0.64%
Tech2.37%
Software3.48%
Application Software3.48%
Systems Software0%0
Industry PE
  • Investors are most optimistic about the Application Software industry which is trading above its 3-year average PE ratio of 37.4x.
    • Analysts are expecting annual earnings growth of 35.8%, which is higher than its past year's earnings decline of 12.0% per year.
  • Investors are most pessimistic about the Application Software industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 37.4x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 36% over the next 5 years.
  • This is better than its past earnings decline of 12% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 36% 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 62.905.2%
+NOK 312.1m
103.2%PE45.6x
LINK LINK Mobility Group HoldingNOK 28.802.9%
+NOK 227.1m
44.3%PE49x
SPIR Spir GroupNOK 10.8518.2%
+NOK 222.0m
34.0%PE38.2x
ELABS Elliptic LaboratoriesNOK 13.542.9%
+NOK 40.0m
0.1%PS10.5x
SMCRT SmartCraftNOK 28.400.4%
+NOK 16.6m
-4.4%PE48.9x