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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedMar 16, 2026
DataAggregated Company Financials
Companies9
  • 7D1.8%
  • 3M-25.7%
  • 1Y4.5%
  • YTDn/a

The Application Software industry is up 1.8% in the last week, with Pexip Holding up 2.4%. Meanwhile, River Tech actually underperformed within the industry, shrinking 49% in the last week. This takes the industry's 12 month performance to a gain of 4.5%. 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
Wed, 18 Mar 2026NOK 17.7bNOK 9.1bNOK 834.3m26.9x21.2x1.9x
Fri, 13 Feb 2026NOK 19.7bNOK 10.3bNOK 831.4m32x23.7x1.9x
Sun, 11 Jan 2026NOK 25.4bNOK 10.3bNOK 857.1m41.1x29.6x2.5x
Tue, 09 Dec 2025NOK 24.2bNOK 10.3bNOK 858.7m40.3x28.2x2.4x
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 22.8bNOK 10.3bNOK 301.6m43.2x75.7x2.2x
Sun, 25 May 2025NOK 20.7bNOK 10.3bNOK 295.7m40.3x70x2x
Tue, 22 Apr 2025NOK 18.2bNOK 10.2bNOK 337.0m35.4x53.9x1.8x
Thu, 20 Mar 2025NOK 18.4bNOK 10.2bNOK 329.6m37x55.9x1.8x
Sat, 15 Feb 2025NOK 19.3bNOK 10.1bNOK 456.2m35.9x42.4x1.9x
Mon, 13 Jan 2025NOK 18.8bNOK 10.0bNOK 319.8m29.4x58.7x1.9x
Wed, 11 Dec 2024NOK 20.0bNOK 10.0bNOK 326.7m29.5x61.3x2x
Fri, 08 Nov 2024NOK 25.1bNOK 11.4bNOK 283.2m33x88.5x2.2x
Sun, 06 Oct 2024NOK 25.8bNOK 11.4bNOK 292.2m33.8x88.2x2.3x
Tue, 03 Sep 2024NOK 25.3bNOK 11.4bNOK 282.3m33.1x89.5x2.2x
Thu, 01 Aug 2024NOK 23.9bNOK 11.0bNOK 463.1m19.2x51.6x2.2x
Sat, 29 Jun 2024NOK 22.0bNOK 11.0bNOK 460.4m19x47.8x2x
Mon, 27 May 2024NOK 22.4bNOK 11.0bNOK 444.5m19.6x50.3x2x
Wed, 24 Apr 2024NOK 20.5bNOK 10.6bNOK 59.9m24.7x343.1x1.9x
Fri, 22 Mar 2024NOK 20.6bNOK 10.5bNOK 78.0m22.6x264.3x2x
Sun, 18 Feb 2024NOK 20.1bNOK 10.5bNOK 282.8m22x71.1x1.9x
Tue, 16 Jan 2024NOK 28.1bNOK 12.4b-NOK 729,774,004.0015.5x-38.5x2.3x
Thu, 14 Dec 2023NOK 27.8bNOK 12.4b-NOK 736,517,501.0015.8x-37.7x2.2x
Sat, 11 Nov 2023NOK 25.8bNOK 12.1b-NOK 661,776,588.0014.9x-39x2.1x
Mon, 09 Oct 2023NOK 24.9bNOK 12.0b-NOK 687,083,153.0015.5x-36.3x2.1x
Wed, 06 Sep 2023NOK 26.3bNOK 12.0b-NOK 681,557,796.0013.2x-38.6x2.2x
Fri, 04 Aug 2023NOK 25.9bNOK 11.3b-NOK 861,373,184.0010.1x-30.1x2.3x
Sun, 02 Jul 2023NOK 25.2bNOK 11.3b-NOK 877,813,694.0010.1x-28.7x2.2x
Tue, 30 May 2023NOK 24.9bNOK 11.3b-NOK 946,771,088.009.6x-26.3x2.2x
Thu, 27 Apr 2023NOK 23.0bNOK 10.9b-NOK 944,030,527.0014.1x-24.4x2.1x
Sat, 25 Mar 2023NOK 23.3bNOK 10.9b-NOK 1,458,941,176.0032.4x-16x2.1x
Price to Earnings Ratio

-16x


Total Market Cap: NOK 23.3bTotal Earnings: -NOK 1,458,941,176.00Total Revenue: NOK 10.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 50.5x202420252026
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 21.2x which is lower than its 3-year average PE of 50.5x.
  • The industry is trading close to its 3-year average PS ratio of 2.1x.
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 5.6% 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 Market2.23%
Tech0.75%
Software1.82%
Application Software1.82%
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 17.652.3%
+NOK 64.1m		-32.9%PE33.2x
PEXIP Pexip HoldingNOK 63.500.5%
+NOK 31.3m		60.2%PE26.7x
LINK LINK Mobility Group HoldingNOK 21.750.5%
+NOK 29.4m		0.7%PE73.3x
AIX Ayfie InternationalNOK 4.290.5%
+NOK 500.2k		17.5%n/a

Latest News

RIVER
NOK 1.75
River Tech
7D
-47.0%
1Y
-89.6%
SMCRT
NOK 17.65
SmartCraft
7D
2.3%
1Y
-32.9%

SMCRT: New CFO Appointment And Segment Shift Will Support Future Upside

Analysts have kept their SmartCraft fair value estimate steady at NOK 21.25, citing largely unchanged assumptions around the discount rate, revenue growth, profit margin and future P/E as the basis for maintaining their price target. What's in the News SmartCraft has appointed Tobias Lindquist as its new Chief Financial Officer, effective 1 July 2026, following an extensive search process (Key Developments).
LINK
NOK 21.75
LINK Mobility Group Holding
7D
0.5%
1Y
0.7%

LINK: Future Cash Generation And M&A Pipeline Will Drive Upside Potential

Analysts have reset their price target for LINK Mobility Group Holding to NOK30.25 from NOK43.75, citing updated assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. These revisions point to a more cautious outlook on the shares.
ELABS
NOK 2.90
Elliptic Laboratories
7D
-3.0%
1Y
-70.5%
AIX
NOK 4.29
Ayfie International
7D
0.5%
1Y
17.5%
PEXIP
NOK 63.50
Pexip Holding
7D
0.5%
1Y
60.2%

PEXIP: Future Outlook Will Emphasize Dividend Visibility And Margin Expansion Potential

Analysts have adjusted their price target for Pexip Holding to NOK 75.0 from NOK 75, citing updated assumptions around slightly higher long term revenue growth, improved profit margins and a modestly lower future P/E multiple. 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 3.60
Induct
7D
-1.1%
1Y
-4.3%
OTEC
NOK 17.10
Otello
7D
-2.0%
1Y
125.6%