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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies10
  • 7D3.3%
  • 3M10.5%
  • 1Y33.2%
  • YTDn/a

In the last week, the Application Software industry is up 3.3%, with Pexip Holding up 1.3%. Meanwhile, Elliptic Laboratories actually underperformed within the industry, shrinking 6.6% in the last week. This means that the industry has gained 33% over the past year. Earnings are forecast to grow by 47% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 26 Jan 2026NOK 25.1bNOK 10.3bNOK 842.9m40.8x29.8x2.4x
Wed, 24 Dec 2025NOK 24.8bNOK 10.3bNOK 856.2m40.4x29x2.4x
Fri, 21 Nov 2025NOK 21.1bNOK 10.3bNOK 852.0m33.9x24.8x2.1x
Sun, 19 Oct 2025NOK 22.0bNOK 10.2bNOK 854.3m32.7x25.7x2.2x
Tue, 16 Sep 2025NOK 23.7bNOK 10.2bNOK 803.2m35.7x29.5x2.3x
Thu, 14 Aug 2025NOK 24.7bNOK 10.3bNOK 299.9m42.5x82.3x2.4x
Sat, 12 Jul 2025NOK 23.0bNOK 10.3bNOK 301.6m43.2x76.1x2.2x
Mon, 09 Jun 2025NOK 21.9bNOK 10.3bNOK 295.7m42.9x74.2x2.1x
Wed, 07 May 2025NOK 18.7bNOK 10.1bNOK 322.3m36.5x58.2x1.8x
Fri, 04 Apr 2025NOK 18.0bNOK 10.2bNOK 332.8m35.9x54x1.8x
Sun, 02 Mar 2025NOK 18.8bNOK 10.2bNOK 312.9m38.1x59.9x1.8x
Tue, 28 Jan 2025NOK 19.0bNOK 10.0bNOK 325.3m28.5x58.3x1.9x
Thu, 26 Dec 2024NOK 19.5bNOK 10.0bNOK 323.4m29.3x60.3x2x
Sat, 23 Nov 2024NOK 19.2bNOK 10.0bNOK 312.8m29x61.5x1.9x
Mon, 21 Oct 2024NOK 25.8bNOK 11.4bNOK 287.1m33.1x89.9x2.3x
Wed, 18 Sep 2024NOK 25.2bNOK 11.4bNOK 282.3m32.3x89.2x2.2x
Fri, 16 Aug 2024NOK 24.0bNOK 11.0bNOK 462.9m20.2x51.8x2.2x
Sun, 14 Jul 2024NOK 23.7bNOK 11.0bNOK 462.0m18.5x51.4x2.1x
Tue, 11 Jun 2024NOK 21.7bNOK 11.0bNOK 460.6m18.8x47.1x2x
Thu, 09 May 2024NOK 22.2bNOK 10.6bNOK 178.8m43.1x124.3x2.1x
Sat, 06 Apr 2024NOK 21.3bNOK 10.5bNOK 74.7m23.8x284.8x2x
Mon, 04 Mar 2024NOK 19.9bNOK 10.5bNOK 76.4m23.8x260.1x1.9x
Wed, 31 Jan 2024NOK 29.0bNOK 12.4b-NOK 731,165,665.0017.6x-39.7x2.3x
Fri, 29 Dec 2023NOK 28.0bNOK 12.4b-NOK 727,586,386.0015.3x-38.5x2.3x
Sun, 26 Nov 2023NOK 26.5bNOK 12.1b-NOK 661,729,877.0015.3x-40.1x2.2x
Tue, 24 Oct 2023NOK 24.7bNOK 12.0b-NOK 687,757,414.0014.7x-36x2.1x
Thu, 21 Sep 2023NOK 25.6bNOK 12.0b-NOK 684,485,291.0013.3x-37.4x2.1x
Sat, 19 Aug 2023NOK 25.7bNOK 11.9b-NOK 863,450,862.0011x-29.8x2.2x
Mon, 17 Jul 2023NOK 24.9bNOK 11.3b-NOK 857,034,441.009x-29.1x2.2x
Wed, 14 Jun 2023NOK 25.1bNOK 11.3b-NOK 942,341,566.0010.4x-26.7x2.2x
Fri, 12 May 2023NOK 24.8bNOK 11.0b-NOK 817,482,142.009.7x-30.3x2.3x
Sun, 09 Apr 2023NOK 23.7bNOK 10.9b-NOK 1,463,587,803.0032.8x-16.2x2.2x
Tue, 07 Mar 2023NOK 24.9bNOK 10.9b-NOK 1,459,016,580.0035.5x-17.1x2.3x
Thu, 02 Feb 2023NOK 26.4bNOK 10.5b-NOK 929,206,514.0026.3x-28.4x2.5x
Price to Earnings Ratio

-28.4x


Total Market Cap: NOK 26.4bTotal Earnings: -NOK 929,206,514.00Total Revenue: NOK 10.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 48.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Norwegian Application 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 29.8x which is lower than its 3-year average PE of 48.4x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.
Past Earnings Growth
  • Total earnings for the Application Software industry have gone up over the last three years, and the industry is now profitable.
  • Revenues have remained mostly flat. This means that the industry has become more efficient since profits are increasing while sales have been flat.

Industry Comparison

How does Norwegian Application Software compare with similar industries?

NO Market0.20%
Tech1.33%
Software3.27%
Application Software3.27%
Systems Software0%0
Industry PEThere are no additional sub-industries under this industry.
Forecasted GrowthThere are no additional sub-industries under this industry.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
LINK LINK Mobility Group HoldingNOK 34.405.4%
+NOK 507.0m		59.3%PE94.9x
PEXIP Pexip HoldingNOK 76.503.7%
+NOK 276.7m		75.9%PE40.1x
OTEC OtelloNOK 18.759.6%
+NOK 111.6m		146.1%PE3.4x
AIX Ayfie InternationalNOK 4.0018.0%
+NOK 15.3m		14.6%n/a
INDCT InductNOK 4.342.8%
+NOK 3.8m		-3.1%PS8.6x

Latest News

LINK
NOK 34.40
LINK Mobility Group Holding
7D
5.4%
1Y
59.3%

LINK: Steady Fair Value And Higher Margins Will Support Future Upside

Analysts have maintained their fair value estimate for LINK Mobility Group Holding at €40.00. This unchanged target reflects slight adjustments to assumptions on the discount rate, revenue growth, profit margin, and future P/E ratio.
ELABS
NOK 5.50
Elliptic Laboratories
7D
-0.7%
1Y
-47.6%

ELABS: Smartphone Platform Wins And New Licensing Pipeline Will Support Upside

Analysts kept their fair value estimate for Elliptic Laboratories steady at €13.00, citing only very small tweaks to their discount rate, revenue growth, profit margin and future P/E assumptions rather than any shift in the core outlook. What's in the News Shipped the AI Virtual Smart Sensor Platform on seven smartphone models in December 2025, including five models from Vivo and two from HONOR, with a total of 65 smartphone models using Elliptic Labs' technology in 2025 (company announcement).
PEXIP
NOK 76.50
Pexip Holding
7D
3.7%
1Y
75.9%

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

Analysts have kept their price target for Pexip Holding steady, citing only marginal tweaks to inputs such as the discount rate, revenue growth assumptions, profit margin outlook, and future P/E that together do not materially shift their view on fair value at about $77.50. Valuation Changes Fair Value: Kept unchanged at NOK 77.50 per share, indicating no alteration to the overall valuation anchor.
SMCRT
NOK 24.60
SmartCraft
7D
-0.4%
1Y
-15.2%
RIVER
NOK 4.20
River Tech
7D
4.5%
1Y
-75.9%
OTEC
NOK 18.75
Otello
7D
9.6%
1Y
146.1%
AIX
NOK 4.00
Ayfie International
7D
18.0%
1Y
14.6%
INDCT
NOK 4.34
Induct
7D
2.8%
1Y
-3.1%