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Norwegian (OSEAX) Software Industry Analysis

UpdatedJan 18, 2026
DataAggregated Company Financials
Companies10
  • 7D-1.6%
  • 3M13.6%
  • 1Y32.3%
  • YTD0.2%

Over the last 7 days, the Software industry has dropped 1.6%, driven by a pullback from LINK Mobility Group Holding of 2.7%. Over the past 12 months, the industry was up 32%. As for the next few years, earnings are expected to grow by 49% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 18 Jan 2026NOK 24.9bNOK 10.3bNOK 856.6m40.6x29.1x2.4x
Tue, 16 Dec 2025NOK 24.8bNOK 10.3bNOK 860.3m41x28.8x2.4x
Thu, 13 Nov 2025NOK 21.2bNOK 10.2bNOK 836.5m30.8x25.3x2.1x
Sat, 11 Oct 2025NOK 22.3bNOK 10.2bNOK 857.7m32.8x26.1x2.2x
Mon, 08 Sep 2025NOK 24.6bNOK 10.2bNOK 820.5m36.9x30x2.4x
Wed, 06 Aug 2025NOK 24.2bNOK 10.3bNOK 298.3m42.7x81.1x2.4x
Fri, 04 Jul 2025NOK 35.6bNOK 17.4bNOK 596.0m43.4x59.8x2x
Sun, 01 Jun 2025NOK 33.4bNOK 17.4bNOK 588.1m41.2x56.8x1.9x
Tue, 29 Apr 2025NOK 29.1bNOK 17.2bNOK 579.8m39.5x50.2x1.7x
Thu, 27 Mar 2025NOK 28.4bNOK 17.2bNOK 586.5m37x48.5x1.7x
Sat, 22 Feb 2025NOK 29.4bNOK 17.1bNOK 493.6m39.3x59.6x1.7x
Mon, 20 Jan 2025NOK 29.3bNOK 16.9bNOK 458.4m42x64x1.7x
Wed, 18 Dec 2024NOK 31.5bNOK 16.9bNOK 464.1m45x68x1.9x
Fri, 15 Nov 2024NOK 29.9bNOK 16.9bNOK 420.0m34.3x71.2x1.8x
Sun, 13 Oct 2024NOK 36.6bNOK 18.2bNOK 343.2m48.2x106.8x2x
Tue, 10 Sep 2024NOK 35.2bNOK 18.2bNOK 329.9m49x106.6x1.9x
Thu, 08 Aug 2024NOK 33.3bNOK 17.7bNOK 451.0m18.3x73.8x1.9x
Sat, 06 Jul 2024NOK 32.8bNOK 17.6bNOK 447.0m18.6x73.4x1.9x
Mon, 03 Jun 2024NOK 33.0bNOK 17.6bNOK 431.6m19.4x76.5x1.9x
Wed, 01 May 2024NOK 28.5bNOK 17.0bNOK 40.2m42.2x708.7x1.7x
Fri, 29 Mar 2024NOK 28.6bNOK 16.9b-NOK 39,687,816.1623.5x-720.5x1.7x
Sun, 25 Feb 2024NOK 26.5bNOK 16.9b-NOK 38,567,058.7422.6x-688.1x1.6x
Tue, 23 Jan 2024NOK 36.5bNOK 18.5b-NOK 736,061,172.0017.7x-49.6x2x
Thu, 21 Dec 2023NOK 35.1bNOK 18.5b-NOK 734,087,434.0015.7x-47.7x1.9x
Sat, 18 Nov 2023NOK 33.3bNOK 18.2b-NOK 654,947,521.0014.7x-50.8x1.8x
Mon, 16 Oct 2023NOK 31.4bNOK 17.9b-NOK 754,585,453.0014.5x-41.7x1.8x
Wed, 13 Sep 2023NOK 32.6bNOK 17.9b-NOK 748,299,593.0012.9x-43.6x1.8x
Fri, 11 Aug 2023NOK 35.9bNOK 16.9b-NOK 986,784,231.0011x-36.4x2.1x
Sun, 09 Jul 2023NOK 34.0bNOK 16.9b-NOK 996,801,868.009.2x-34.1x2x
Tue, 06 Jun 2023NOK 35.6bNOK 16.9b-NOK 1,068,208,435.009.8x-33.4x2.1x
Thu, 04 May 2023NOK 31.0bNOK 16.1b-NOK 896,847,607.0031.6x-34.5x1.9x
Sat, 01 Apr 2023NOK 31.5bNOK 16.1b-NOK 1,429,425,185.0050.7x-22x2x
Mon, 27 Feb 2023NOK 33.1bNOK 16.1b-NOK 1,391,075,516.0048x-23.8x2.1x
Wed, 25 Jan 2023NOK 34.9bNOK 38.1b-NOK 711,654,858.0034.6x-49x0.9x
Price to Earnings Ratio

-49x


Total Market Cap: NOK 34.9bTotal Earnings: -NOK 711,654,858.00Total Revenue: NOK 38.1bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -4.7x202420252026
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 29.1x which is higher than its 3-year average PE of -4.7x.
  • 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 Market3.05%
Tech-0.079%
Software-1.63%
Systems Software0%0
Application Software-1.63%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 48.0x.
    • Analysts are expecting annual earnings growth of 49.2%, 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 48.0x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 49% 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 49% 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 75.900.4%
+NOK 30.7m		80.7%PE39.8x
AIX Ayfie InternationalNOK 3.461.8%
+NOK 1.5m		-6.5%n/a

Latest News

SMCRT
NOK 25.00
SmartCraft
7D
-2.7%
1Y
-12.6%
LINK
NOK 33.65
LINK Mobility Group Holding
7D
-2.7%
1Y
51.6%

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 5.79
Elliptic Laboratories
7D
-1.4%
1Y
-45.2%

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 4.12
River Tech
7D
-1.9%
1Y
-76.2%
PEXIP
NOK 75.90
Pexip Holding
7D
0.4%
1Y
80.7%

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.
OTEC
NOK 17.25
Otello
7D
-3.1%
1Y
124.0%
AIX
NOK 3.46
Ayfie International
7D
1.8%
1Y
-6.5%
INDCT
NOK 4.40
Induct
7D
-4.8%
1Y
-9.5%