Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Norwegian (OSEAX) Application Software Industry Analysis

UpdatedMar 28, 2026
DataAggregated Company Financials
Companies8
  • 7D-3.6%
  • 3M-28.9%
  • 1Y9.2%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 3.6%, driven by Pexip Holding declining 6.0%. On the other hand Elliptic Laboratories is actually up 5.6%. This takes the industry's 12 month performance to a gain of 9.2%. 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
Sun, 29 Mar 2026NOK 14.1bNOK 8.6bNOK 748.2m13.9x18.9x1.6x
Tue, 24 Feb 2026NOK 18.8bNOK 10.1bNOK 931.2m26.7x20.2x1.9x
Thu, 22 Jan 2026NOK 24.7bNOK 10.3bNOK 850.9m39.6x29x2.4x
Sat, 20 Dec 2025NOK 24.6bNOK 10.3bNOK 859.0m40.3x28.6x2.4x
Mon, 17 Nov 2025NOK 20.9bNOK 10.2bNOK 837.3m29.9x25x2x
Wed, 15 Oct 2025NOK 21.9bNOK 10.2bNOK 859.0m32.4x25.5x2.2x
Fri, 12 Sep 2025NOK 25.0bNOK 10.1bNOK 784.9m41x31.8x2.5x
Sun, 10 Aug 2025NOK 24.3bNOK 10.3bNOK 298.4m43x81.5x2.4x
Tue, 08 Jul 2025NOK 23.2bNOK 10.3bNOK 301.2m44x77.2x2.3x
Thu, 05 Jun 2025NOK 21.5bNOK 10.3bNOK 295.9m42.3x72.8x2.1x
Sat, 03 May 2025NOK 19.2bNOK 10.2bNOK 320.3m39x59.9x1.9x
Mon, 31 Mar 2025NOK 18.2bNOK 10.2bNOK 329.8m36x55.1x1.8x
Wed, 26 Feb 2025NOK 19.3bNOK 10.1bNOK 284.3m37.9x68x1.9x
Fri, 24 Jan 2025NOK 19.0bNOK 10.0bNOK 324.4m28.3x58.5x1.9x
Sun, 22 Dec 2024NOK 19.3bNOK 10.0bNOK 323.6m28.6x59.5x1.9x
Tue, 19 Nov 2024NOK 19.3bNOK 10.0bNOK 313.8m28.2x61.4x1.9x
Thu, 17 Oct 2024NOK 25.8bNOK 11.4bNOK 287.1m33.3x89.9x2.3x
Sat, 14 Sep 2024NOK 24.9bNOK 11.4bNOK 281.1m31.2x88.6x2.2x
Mon, 12 Aug 2024NOK 23.1bNOK 11.0bNOK 463.0m18.2x49.8x2.1x
Wed, 10 Jul 2024NOK 23.6bNOK 11.0bNOK 459.4m18.4x51.3x2.1x
Fri, 07 Jun 2024NOK 21.9bNOK 11.0bNOK 444.7m19.1x49.3x2x
Sun, 05 May 2024NOK 21.9bNOK 10.6bNOK 153.8m43.6x142.6x2.1x
Tue, 02 Apr 2024NOK 21.5bNOK 10.5bNOK 75.4m23.5x285.6x2x
Thu, 29 Feb 2024NOK 19.4bNOK 10.5bNOK 77.0m22.7x251.8x1.8x
Sat, 27 Jan 2024NOK 29.0bNOK 12.4b-NOK 730,939,897.0017.6x-39.7x2.3x
Mon, 25 Dec 2023NOK 28.1bNOK 12.4b-NOK 728,323,411.0015.7x-38.5x2.3x
Wed, 22 Nov 2023NOK 26.4bNOK 12.1b-NOK 649,095,351.0015.2x-40.7x2.2x
Fri, 20 Oct 2023NOK 25.3bNOK 12.0b-NOK 688,204,897.0014.8x-36.7x2.1x
Sun, 17 Sep 2023NOK 25.6bNOK 12.0b-NOK 682,142,555.0013x-37.6x2.1x
Tue, 15 Aug 2023NOK 26.1bNOK 11.4b-NOK 799,198,251.0011x-32.7x2.3x
Thu, 13 Jul 2023NOK 24.9bNOK 11.3b-NOK 868,696,372.009.3x-28.6x2.2x
Sat, 10 Jun 2023NOK 24.9bNOK 11.3b-NOK 943,992,634.0010x-26.4x2.2x
Mon, 08 May 2023NOK 24.1bNOK 11.0b-NOK 829,164,518.009.6x-29.1x2.2x
Wed, 05 Apr 2023NOK 23.7bNOK 10.9b-NOK 1,446,233,189.0032.9x-16.4x2.2x
Price to Earnings Ratio

-16.4x


Total Market Cap: NOK 23.7bTotal Earnings: -NOK 1,446,233,189.00Total Revenue: NOK 10.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 50.9x202420252026
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 18.9x which is lower than its 3-year average PE of 50.8x.
  • The 3-year average PS ratio of 2.1x is higher than the industry's current PS ratio of 1.6x.
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 7.5% 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 Market0.23%
Tech-2.20%
Software-3.59%
Application Software-3.59%
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
ELABS Elliptic LaboratoriesNOK 2.825.6%
+NOK 17.4m		-70.2%PS3.2x
AIX Ayfie InternationalNOK 4.100.5%
+NOK 500.2k		24.2%n/a

Latest News

PEXIP
NOK 60.00
Pexip Holding
7D
-6.0%
1Y
50.0%
ELABS
NOK 2.82
Elliptic Laboratories
7D
5.6%
1Y
-70.2%

ELABS: New Equity Funding And Laptop Wins Will Drive Future Upside

Analysts have kept Elliptic Laboratories' fair value estimate steady at NOK 13.0 per share, with only marginal tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E supporting this unchanged price target. What's in the News The board calls a special shareholders meeting on March 27, 2026 to vote on items including a proposed share capital increase and approval of the meeting notice and agenda (company event notice).
LINK
NOK 20.70
LINK Mobility Group Holding
7D
-1.9%
1Y
-7.0%

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

Analysts have kept their NOK 30.25 price target for LINK Mobility Group Holding unchanged, citing only minor technical adjustments to inputs such as the discount rate, long term revenue growth, profit margin assumptions and future P/E multiple. What's in the News The company is actively looking for M&A opportunities, with management pointing to a strong and actionable deal pipeline and a focus on accretive transactions as a first priority for capital allocation (Key Developments).
AIX
NOK 4.10
Ayfie International
7D
0.5%
1Y
24.2%
INDCT
NOK 3.34
Induct
7D
-15.7%
1Y
4.4%
OTEC
NOK 17.45
Otello
7D
-0.9%
1Y
105.8%