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Norwegian (OSEAX) Software Industry Analysis

UpdatedNov 06, 2025
DataAggregated Company Financials
Companies10
  • 7D-2.5%
  • 3M-9.2%
  • 1Y14.6%
  • YTD13.1%

Over the last 7 days, the Software industry has dropped 2.8%, driven by a pullback from SmartCraft of 12%. This takes the industry's 12 month performance to a gain of 14%. Earnings are forecast to grow by 43% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 06 Nov 2025NOK 22.2bNOK 10.2bNOK 860.9m32.6x25.8x2.2x
Sat, 04 Oct 2025NOK 22.7bNOK 10.2bNOK 849.7m33.9x26.7x2.2x
Mon, 01 Sep 2025NOK 24.5bNOK 10.2bNOK 820.6m36.5x29.9x2.4x
Wed, 30 Jul 2025NOK 24.6bNOK 10.3bNOK 299.0m45x82.1x2.4x
Fri, 27 Jun 2025NOK 35.7bNOK 17.4bNOK 595.6m43.5x60x2.1x
Sun, 25 May 2025NOK 32.4bNOK 17.4bNOK 589.7m40.1x55x1.9x
Tue, 22 Apr 2025NOK 28.5bNOK 17.2bNOK 595.0m36.2x47.9x1.7x
Thu, 20 Mar 2025NOK 28.7bNOK 17.2bNOK 587.6m37.6x48.9x1.7x
Sat, 15 Feb 2025NOK 29.1bNOK 17.1bNOK 714.2m36.9x40.8x1.7x
Mon, 13 Jan 2025NOK 29.5bNOK 16.9bNOK 457.8m42.6x64.5x1.7x
Wed, 11 Dec 2024NOK 31.3bNOK 16.9bNOK 464.7m41.4x67.4x1.8x
Fri, 08 Nov 2024NOK 34.8bNOK 18.4bNOK 420.2m48.9x82.8x1.9x
Sun, 06 Oct 2024NOK 36.2bNOK 18.2bNOK 344.2m50x105.3x2x
Tue, 03 Sep 2024NOK 36.1bNOK 18.2bNOK 334.3m49.6x108.1x2x
Thu, 01 Aug 2024NOK 35.4bNOK 17.7bNOK 451.1m19.2x78.5x2x
Sat, 29 Jun 2024NOK 33.0bNOK 17.6bNOK 448.4m19x73.7x1.9x
Mon, 27 May 2024NOK 32.1bNOK 17.6bNOK 432.5m19.6x74.3x1.8x
Wed, 24 Apr 2024NOK 27.2bNOK 17.0b-NOK 55,113,967.9124.7x-492.7x1.6x
Fri, 22 Mar 2024NOK 27.4bNOK 16.9b-NOK 37,019,326.3822.6x-739.4x1.6x
Sun, 18 Feb 2024NOK 27.5bNOK 16.9bNOK 167.8m22x163.7x1.6x
Tue, 16 Jan 2024NOK 35.4bNOK 18.5b-NOK 734,488,004.0015.5x-48.2x1.9x
Thu, 14 Dec 2023NOK 35.4bNOK 18.5b-NOK 741,231,501.0015.8x-47.7x1.9x
Sat, 11 Nov 2023NOK 32.4bNOK 18.2b-NOK 677,562,588.0014.9x-47.9x1.8x
Mon, 09 Oct 2023NOK 30.6bNOK 17.9b-NOK 753,797,153.0015.5x-40.6x1.7x
Wed, 06 Sep 2023NOK 33.3bNOK 17.9b-NOK 748,271,796.0013.2x-44.5x1.9x
Fri, 04 Aug 2023NOK 35.5bNOK 16.9b-NOK 982,087,184.0010.1x-36.1x2.1x
Sun, 02 Jul 2023NOK 34.5bNOK 16.9b-NOK 998,527,694.0010.1x-34.6x2x
Tue, 30 May 2023NOK 34.7bNOK 16.9b-NOK 1,067,485,088.009.6x-32.5x2.1x
Thu, 27 Apr 2023NOK 29.9bNOK 16.1b-NOK 918,744,527.0031.7x-32.6x1.9x
Sat, 25 Mar 2023NOK 30.8bNOK 16.1b-NOK 1,433,655,176.0047.4x-21.4x1.9x
Mon, 20 Feb 2023NOK 35.2bNOK 16.1b-NOK 1,362,161,280.0048.3x-25.9x2.2x
Wed, 18 Jan 2023NOK 34.8bNOK 38.1b-NOK 712,064,463.0035x-48.8x0.9x
Fri, 16 Dec 2022NOK 35.0bNOK 38.1b-NOK 713,400,018.0029.6x-49.1x0.9x
Sun, 13 Nov 2022NOK 34.6bNOK 38.0b-NOK 658,740,540.0032x-52.5x0.9x
Price to Earnings Ratio

-52.5x


Total Market Cap: NOK 34.6bTotal Earnings: -NOK 658,740,540.00Total Revenue: NOK 38.0bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Software Industry Price to Earnings3Y Average -9.8x202320242025
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 25.7x which is higher than its 3-year average PE of -9.9x.
  • The 3-year average PS ratio of 1.8x is lower than the industry's current PS ratio of 2.2x.
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 36% 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-1.50%
Tech-5.26%
Software-2.55%
Systems Software0%0
Application Software-2.55%
Industry PE
  • Investors are most optimistic about the Application Software industry even though it's trading below its 3-year average PE ratio of 44.3x.
    • Analysts are expecting annual earnings growth of 43.0%, 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 44.3x.
Forecasted Growth
  • Analysts are most optimistic on the Application Software industry, expecting annual earnings growth of 43% 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 43% 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 62.501.1%
+NOK 71.7m		58.0%PE36.5x
LINK LINK Mobility Group HoldingNOK 29.550.7%
+NOK 56.8m		25.2%PE79.9x
OTEC OtelloNOK 15.401.3%
+NOK 16.2m		95.4%PE3x
SPIR Spir GroupNOK 6.541.6%
+NOK 13.3m		-18.3%PE29.2x
AIX Ayfie InternationalNOK 4.363.8%
+NOK 4.0m		-28.8%n/a

Latest News

LINK
NOK 29.55
LINK Mobility Group Holding
7D
0.7%
1Y
25.2%
SMCRT
NOK 22.70
SmartCraft
7D
-12.7%
1Y
-23.6%
ELABS
NOK 8.93
Elliptic Laboratories
7D
-9.1%
1Y
-15.0%

Analysts Lower Elliptic Labs Price Target Amid Moderated Growth and Evolving Product Partnerships

Analysts have lowered their price target for Elliptic Laboratories from $18.50 to $16.00, citing moderated expectations for revenue growth and profit margins in upcoming periods. What's in the News Elliptic Labs shipped its AI Virtual Smart Sensor Platform on nine smartphone models in September 2025, reaching 54 smartphone models launched for the year to date (Client Announcements).
INDCT
NOK 2.86
Induct
7D
0.7%
1Y
40.2%
RIVER
NOK 4.56
River Tech
7D
-17.8%
1Y
-74.7%
SPIR
NOK 6.54
Spir Group
7D
1.6%
1Y
-18.3%
PEXIP
NOK 62.50
Pexip Holding
7D
1.1%
1Y
58.0%
AIX
NOK 4.36
Ayfie International
7D
3.8%
1Y
-28.8%
OTEC
NOK 15.40
Otello
7D
1.3%
1Y
95.4%