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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedJan 28, 2026
DataAggregated Company Financials
Companies10
  • 7D4.1%
  • 3M12.3%
  • 1Y34.9%
  • YTDn/a

Over the last 7 days, the Application Software industry has risen 4.1%, driven by gains in Pexip Holding and LINK Mobility Group Holding of 3.3% and 2.5%, respectively. This takes the industry's 12 month performance to a gain of 35%. As for the next few years, earnings are expected to grow by 47% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026NOK 25.6bNOK 10.3bNOK 836.6m41x30.6x2.5x
Sat, 27 Dec 2025NOK 24.8bNOK 10.3bNOK 853.5m40.4x29.1x2.4x
Mon, 24 Nov 2025NOK 20.7bNOK 10.3bNOK 863.4m33.1x23.9x2x
Wed, 22 Oct 2025NOK 22.2bNOK 10.2bNOK 853.7m32.6x26x2.2x
Fri, 19 Sep 2025NOK 23.7bNOK 10.2bNOK 805.6m35.9x29.4x2.3x
Sun, 17 Aug 2025NOK 25.2bNOK 10.3bNOK 324.2m37.3x77.6x2.4x
Tue, 15 Jul 2025NOK 23.2bNOK 10.3bNOK 300.5m43x77.2x2.3x
Thu, 12 Jun 2025NOK 22.2bNOK 10.3bNOK 296.8m43.3x74.7x2.2x
Sat, 10 May 2025NOK 20.0bNOK 10.2bNOK 309.3m37.6x64.6x2x
Mon, 07 Apr 2025NOK 17.4bNOK 10.2bNOK 328.5m34.8x52.9x1.7x
Wed, 05 Mar 2025NOK 18.2bNOK 10.2bNOK 314.9m36x57.7x1.8x
Fri, 31 Jan 2025NOK 19.1bNOK 10.0bNOK 324.1m29.2x58.9x1.9x
Sun, 29 Dec 2024NOK 19.6bNOK 10.0bNOK 323.1m29.3x60.6x2x
Tue, 26 Nov 2024NOK 19.3bNOK 10.0bNOK 313.5m29x61.6x1.9x
Thu, 24 Oct 2024NOK 25.8bNOK 11.4bNOK 285.5m33x90.2x2.3x
Sat, 21 Sep 2024NOK 25.1bNOK 11.4bNOK 296.2m31.9x84.9x2.2x
Mon, 19 Aug 2024NOK 24.2bNOK 11.3bNOK 556.3m16.2x43.6x2.1x
Wed, 17 Jul 2024NOK 23.7bNOK 11.0bNOK 462.7m18.6x51.2x2.1x
Fri, 14 Jun 2024NOK 22.7bNOK 11.0bNOK 460.3m19.3x49.2x2.1x
Sun, 12 May 2024NOK 22.4bNOK 10.6bNOK 178.5m43.4x125.8x2.1x
Tue, 09 Apr 2024NOK 21.3bNOK 10.6bNOK 65.6m24.1x324.6x2x
Thu, 07 Mar 2024NOK 19.9bNOK 10.5bNOK 76.7m23.2x259.1x1.9x
Sat, 03 Feb 2024NOK 28.9bNOK 12.4b-NOK 728,844,082.0017.6x-39.6x2.3x
Mon, 01 Jan 2024NOK 28.2bNOK 12.4b-NOK 727,756,215.0015.7x-38.8x2.3x
Wed, 29 Nov 2023NOK 26.3bNOK 12.1b-NOK 660,595,058.0015.3x-39.8x2.2x
Fri, 27 Oct 2023NOK 24.6bNOK 12.0b-NOK 690,081,607.0015x-35.7x2x
Sun, 24 Sep 2023NOK 25.6bNOK 12.0b-NOK 685,458,205.0013.5x-37.3x2.1x
Tue, 22 Aug 2023NOK 25.7bNOK 12.0b-NOK 717,683,117.0011x-35.8x2.1x
Thu, 20 Jul 2023NOK 25.8bNOK 11.3b-NOK 857,236,981.009x-30.1x2.3x
Sat, 17 Jun 2023NOK 25.2bNOK 11.3b-NOK 940,335,256.0010.2x-26.8x2.2x
Mon, 15 May 2023NOK 24.5bNOK 11.3b-NOK 829,454,278.009.6x-29.5x2.2x
Wed, 12 Apr 2023NOK 23.7bNOK 10.9b-NOK 1,467,651,100.0033x-16.2x2.2x
Fri, 10 Mar 2023NOK 24.4bNOK 10.9b-NOK 1,470,372,566.0031.2x-16.6x2.2x
Sun, 05 Feb 2023NOK 26.7bNOK 10.5b-NOK 940,421,436.0025.3x-28.4x2.5x
Price to Earnings Ratio

-28.4x


Total Market Cap: NOK 26.7bTotal Earnings: -NOK 940,421,436.00Total Revenue: NOK 10.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 48.5x202420252026
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 30.6x which is lower than its 3-year average PE of 48.5x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.5x.
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 Market0.90%
Tech1.97%
Software4.11%
Application Software4.11%
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
PEXIP Pexip HoldingNOK 77.203.3%
+NOK 256.2m		66.4%PE40.5x
LINK LINK Mobility Group HoldingNOK 34.552.5%
+NOK 246.2m		52.2%PE95.3x
OTEC OtelloNOK 18.457.0%
+NOK 79.9m		143.4%PE3.3x
INDCT InductNOK 4.301.4%
+NOK 1.9m		-14.9%PS8.5x
AIX Ayfie InternationalNOK 3.820.5%
+NOK 500.2k		1.3%n/a

Latest News

LINK
NOK 34.55
LINK Mobility Group Holding
7D
2.5%
1Y
52.2%

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 5.14
Elliptic Laboratories
7D
-3.7%
1Y
-52.8%

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 77.20
Pexip Holding
7D
3.3%
1Y
66.4%

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 23.70
SmartCraft
7D
-2.1%
1Y
-10.9%
RIVER
NOK 4.02
River Tech
7D
-2.9%
1Y
-78.0%
SPIR
NOK 8.44
Spir Group
7D
-0.5%
1Y
0.7%
OTEC
NOK 18.45
Otello
7D
7.0%
1Y
143.4%
AIX
NOK 3.82
Ayfie International
7D
0.5%
1Y
1.3%
INDCT
NOK 4.30
Induct
7D
1.4%
1Y
-14.9%