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Norwegian (OSEAX) Software Industry Analysis

UpdatedJan 14, 2026
DataAggregated Company Financials
Companies10
  • 7D-1.0%
  • 3M10.3%
  • 1Y33.4%
  • YTD-0.5%

Over the last 7 days, the Software industry has risen 1.2%, driven by gains from SmartCraft of 0.4%. This takes the industry's 12 month performance to a gain of 35%. Looking forward, 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
Wed, 14 Jan 2026NOK 24.8bNOK 10.3bNOK 856.6m40x28.9x2.4x
Fri, 12 Dec 2025NOK 24.4bNOK 10.3bNOK 856.3m40.3x28.5x2.4x
Sun, 09 Nov 2025NOK 21.3bNOK 10.2bNOK 874.9m30.7x24.4x2.1x
Tue, 07 Oct 2025NOK 22.5bNOK 10.2bNOK 848.6m32.9x26.5x2.2x
Thu, 04 Sep 2025NOK 24.4bNOK 10.2bNOK 819.9m35.9x29.8x2.4x
Sat, 02 Aug 2025NOK 24.3bNOK 10.3bNOK 298.4m44.4x81.6x2.4x
Mon, 30 Jun 2025NOK 35.5bNOK 17.4bNOK 595.4m43x59.7x2x
Wed, 28 May 2025NOK 33.4bNOK 17.4bNOK 588.7m41.7x56.7x1.9x
Fri, 25 Apr 2025NOK 28.7bNOK 17.2bNOK 595.3m37.3x48.2x1.7x
Sun, 23 Mar 2025NOK 28.4bNOK 17.2bNOK 587.3m37.8x48.4x1.7x
Tue, 18 Feb 2025NOK 28.8bNOK 17.1bNOK 494.1m38.3x58.2x1.7x
Thu, 16 Jan 2025NOK 29.4bNOK 16.9bNOK 460.0m40.9x63.9x1.7x
Sat, 14 Dec 2024NOK 32.0bNOK 16.9bNOK 464.9m44x68.8x1.9x
Mon, 11 Nov 2024NOK 29.1bNOK 16.8bNOK 396.1m32.5x73.5x1.7x
Wed, 09 Oct 2024NOK 36.2bNOK 18.2bNOK 343.4m48.2x105.5x2x
Fri, 06 Sep 2024NOK 35.0bNOK 18.2bNOK 333.7m48.8x104.8x1.9x
Sun, 04 Aug 2024NOK 33.3bNOK 17.7bNOK 452.2m18x73.7x1.9x
Tue, 02 Jul 2024NOK 32.8bNOK 17.6bNOK 447.1m19x73.3x1.9x
Thu, 30 May 2024NOK 32.7bNOK 17.6bNOK 432.1m19.7x75.7x1.9x
Sat, 27 Apr 2024NOK 27.6bNOK 17.0b-NOK 47,422,606.4025.1x-582.6x1.6x
Mon, 25 Mar 2024NOK 27.8bNOK 16.9b-NOK 36,644,032.6523x-759.2x1.6x
Wed, 21 Feb 2024NOK 26.7bNOK 16.9b-NOK 39,050,463.1023.1x-683.2x1.6x
Fri, 19 Jan 2024NOK 36.2bNOK 18.5b-NOK 736,345,303.0015.8x-49.2x2x
Sun, 17 Dec 2023NOK 35.7bNOK 18.5b-NOK 735,516,767.0015.5x-48.5x1.9x
Tue, 14 Nov 2023NOK 32.0bNOK 18.2b-NOK 654,447,564.0015.8x-48.9x1.8x
Thu, 12 Oct 2023NOK 31.1bNOK 17.9b-NOK 753,197,720.0014.6x-41.3x1.7x
Sat, 09 Sep 2023NOK 33.3bNOK 17.9b-NOK 748,452,467.0012.9x-44.5x1.9x
Mon, 07 Aug 2023NOK 35.7bNOK 16.9b-NOK 980,388,856.009.5x-36.4x2.1x
Wed, 05 Jul 2023NOK 35.1bNOK 16.9b-NOK 997,713,466.009.9x-35.2x2.1x
Fri, 02 Jun 2023NOK 35.0bNOK 16.9b-NOK 1,068,428,548.009.7x-32.8x2.1x
Sun, 30 Apr 2023NOK 30.8bNOK 16.1b-NOK 918,859,872.0032.6x-33.5x1.9x
Tue, 28 Mar 2023NOK 30.9bNOK 16.1b-NOK 1,432,577,007.0048.4x-21.6x1.9x
Thu, 23 Feb 2023NOK 33.6bNOK 16.1b-NOK 1,387,674,619.0048.3x-24.2x2.1x
Sat, 21 Jan 2023NOK 34.3bNOK 38.1b-NOK 713,035,185.0034.3x-48.2x0.9x
Price to Earnings Ratio

-48.2x


Total Market Cap: NOK 34.3bTotal Earnings: -NOK 713,035,185.00Total Revenue: NOK 38.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -5x202420252026
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 29.3x which is higher than its 3-year average PE of -5.1x.
  • 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 Market1.18%
Tech0.44%
Software-0.98%
Systems Software0%0
Application Software-0.98%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 47.7x.
    • Analysts are expecting annual earnings growth of 48.1%, 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 47.7x.
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
SMCRT SmartCraftNOK 25.000.4%
+NOK 14.7m		-8.4%PE41.5x
INDCT InductNOK 4.767.2%
+NOK 10.0m		-4.8%PS9.5x

Latest News

LINK
NOK 33.70
LINK Mobility Group Holding
7D
-0.1%
1Y
53.2%
ELABS
NOK 5.99
Elliptic Laboratories
7D
-8.8%
1Y
-42.6%

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 4.06
River Tech
7D
-5.6%
1Y
-77.3%
SPIR
NOK 8.44
Spir Group
7D
-0.2%
1Y
-1.6%
PEXIP
NOK 73.40
Pexip Holding
7D
-2.3%
1Y
76.7%

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.
SMCRT
NOK 25.00
SmartCraft
7D
0.4%
1Y
-8.4%
OTEC
NOK 17.65
Otello
7D
-1.1%
1Y
128.6%
AIX
NOK 3.41
Ayfie International
7D
-1.2%
1Y
-8.3%
INDCT
NOK 4.76
Induct
7D
7.2%
1Y
-4.8%