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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies10
  • 7D-0.8%
  • 3M-10.8%
  • 1Y-0.7%
  • YTDn/a

The Application Software is pretty flat in the last 7 days, but SmartCraft has stood out, gaining 13%. In line with that, the industry has also been flat over the past 12 months. Looking forward, earnings are forecast to grow by 33% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 23 Feb 2026NOK 18.9bNOK 10.1bNOK 928.7m27x20.4x1.9x
Wed, 21 Jan 2026NOK 24.6bNOK 10.3bNOK 851.7m39.4x28.9x2.4x
Fri, 19 Dec 2025NOK 24.4bNOK 10.3bNOK 860.5m40.3x28.4x2.4x
Sun, 16 Nov 2025NOK 20.9bNOK 10.2bNOK 837.3m29.9x25x2x
Tue, 14 Oct 2025NOK 21.8bNOK 10.2bNOK 855.9m32.4x25.5x2.1x
Thu, 11 Sep 2025NOK 24.8bNOK 10.1bNOK 787.6m41.1x31.5x2.5x
Sat, 09 Aug 2025NOK 24.3bNOK 10.3bNOK 298.4m43x81.5x2.4x
Mon, 07 Jul 2025NOK 23.1bNOK 10.3bNOK 302.1m43.8x76.3x2.2x
Wed, 04 Jun 2025NOK 21.3bNOK 10.3bNOK 295.0m42.3x72.3x2.1x
Fri, 02 May 2025NOK 18.8bNOK 10.2bNOK 319.8m38.9x58.8x1.9x
Sun, 30 Mar 2025NOK 18.2bNOK 10.2bNOK 329.8m36x55.1x1.8x
Tue, 25 Feb 2025NOK 19.0bNOK 10.1bNOK 284.2m37.8x66.9x1.9x
Thu, 23 Jan 2025NOK 18.9bNOK 10.0bNOK 324.4m28.5x58.2x1.9x
Sat, 21 Dec 2024NOK 19.3bNOK 10.0bNOK 323.4m28.6x59.6x1.9x
Mon, 18 Nov 2024NOK 19.6bNOK 10.0bNOK 313.8m28.4x62.5x2x
Wed, 16 Oct 2024NOK 25.8bNOK 11.4bNOK 288.7m33x89.3x2.3x
Fri, 13 Sep 2024NOK 24.8bNOK 11.4bNOK 280.0m31.3x88.7x2.2x
Sun, 11 Aug 2024NOK 23.1bNOK 11.0bNOK 463.0m18.2x49.8x2.1x
Tue, 09 Jul 2024NOK 23.3bNOK 11.0bNOK 459.5m18.5x50.6x2.1x
Thu, 06 Jun 2024NOK 21.8bNOK 11.0bNOK 444.8m19.1x49x2x
Sat, 04 May 2024NOK 21.9bNOK 10.6bNOK 153.8m43.6x142.6x2.1x
Mon, 01 Apr 2024NOK 21.5bNOK 10.5bNOK 75.3m23.5x286x2x
Wed, 28 Feb 2024NOK 19.4bNOK 10.5bNOK 76.7m22.6x252.7x1.8x
Fri, 26 Jan 2024NOK 29.0bNOK 12.4b-NOK 731,224,136.0017.6x-39.7x2.3x
Sun, 24 Dec 2023NOK 28.1bNOK 12.4b-NOK 728,323,411.0015.7x-38.5x2.3x
Tue, 21 Nov 2023NOK 26.5bNOK 12.1b-NOK 648,539,041.0015.3x-40.8x2.2x
Thu, 19 Oct 2023NOK 25.2bNOK 12.0b-NOK 688,791,112.0015.5x-36.6x2.1x
Sat, 16 Sep 2023NOK 25.7bNOK 12.0b-NOK 682,156,027.0012.9x-37.7x2.1x
Mon, 14 Aug 2023NOK 26.0bNOK 11.4b-NOK 798,620,915.0011x-32.6x2.3x
Wed, 12 Jul 2023NOK 25.1bNOK 11.3b-NOK 872,912,121.009x-28.7x2.2x
Fri, 09 Jun 2023NOK 24.8bNOK 11.3b-NOK 945,820,434.009.8x-26.3x2.2x
Sun, 07 May 2023NOK 24.1bNOK 11.0b-NOK 829,164,518.009.6x-29.1x2.2x
Tue, 04 Apr 2023NOK 23.8bNOK 10.9b-NOK 1,446,294,777.0033x-16.5x2.2x
Thu, 02 Mar 2023NOK 25.0bNOK 10.9b-NOK 1,416,682,857.0036.9x-17.7x2.3x
Price to Earnings Ratio

-17.7x


Total Market Cap: NOK 25.0bTotal Earnings: -NOK 1,416,682,857.00Total Revenue: NOK 10.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 49.7x202420252026
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 20.4x which is lower than its 3-year average PE of 49.7x.
  • The 3-year average PS ratio of 2.1x is higher than the industry's current PS ratio of 1.9x.
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 declined 2.3% 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 Comparison

How does Norwegian Application Software compare with similar industries?

NO Market3.08%
Tech5.03%
Software-0.85%
Application Software-0.85%
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
SMCRT SmartCraftNOK 18.4012.5%
+NOK 258.3m		-28.4%PE34.6x
ELABS Elliptic LaboratoriesNOK 5.2015.6%
+NOK 73.7m		-49.5%PS3.9x
PEXIP Pexip HoldingNOK 64.200.8%
+NOK 52.2m		46.7%PE27x
SPIR Spir GroupNOK 8.500.2%
+NOK 2.7m		-20.9%PS1.2x

Latest News

LINK
NOK 20.85
LINK Mobility Group Holding
7D
-1.0%
1Y
-9.3%

LINK: Cash Generation And Measured P/E Will Frame Balanced Return Potential

Analysts have revised their price target for LINK Mobility Group Holding from NOK 40 to NOK 21, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Management reports NOK 400 million in free cash flow, with CEO Thomas Berge highlighting strong cash conversion across the business as a support for ongoing capital allocation plans (Key Developments).
SMCRT
NOK 18.40
SmartCraft
7D
12.5%
1Y
-28.4%
ELABS
NOK 5.20
Elliptic Laboratories
7D
15.6%
1Y
-49.5%

ELABS: New Laptop And Smartphone Deals Will Support Future Upside

Analysts now set their price target for Elliptic Laboratories at NOK 13.00, in line with the prior NOK 13. This reflects updated model inputs around a slightly higher discount rate and unchanged assumptions for revenue growth, profit margin, and future P/E.
SPIR
NOK 8.50
Spir Group
7D
0.2%
1Y
-20.9%
PEXIP
NOK 64.20
Pexip Holding
7D
0.8%
1Y
46.7%

PEXIP: Future Outlook Will Highlight Dividend Visibility And Earnings Multiple Support

Analysts have trimmed their price target on Pexip Holding from NOK 77.50 to NOK 75.00, citing updated assumptions for the discount rate, revenue growth, profit margin and future P/E. What's in the News Pexip Holding ASA announced an annual dividend of NOK 3.0000 per share, with payment scheduled for April 28, 2026 (Key Developments).
INDCT
NOK 3.96
Induct
7D
-1.5%
1Y
-12.0%
RIVER
NOK 3.62
River Tech
7D
-13.4%
1Y
-78.7%
OTEC
NOK 17.85
Otello
7D
-1.7%
1Y
138.0%
AIX
NOK 4.25
Ayfie International
7D
-4.7%
1Y
10.7%