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

Norwegian (OSEAX) Application Software Industry Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies10
  • 7D-3.1%
  • 3M-2.7%
  • 1Y7.4%
  • YTDn/a

Over the last 7 days, the Application Software industry has dropped 3.1%, driven by a pullback from SmartCraft of 13%. This takes the industry's 12 month performance to a gain of 7.4%. As for the next few years, earnings are expected to grow by 38% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 12 Feb 2026NOK 20.6bNOK 10.3bNOK 828.7m32.8x24.9x2x
Sat, 10 Jan 2026NOK 25.4bNOK 10.3bNOK 857.2m41.1x29.6x2.5x
Mon, 08 Dec 2025NOK 23.9bNOK 10.3bNOK 857.6m39.4x27.8x2.3x
Wed, 05 Nov 2025NOK 22.1bNOK 10.2bNOK 860.2m33x25.7x2.2x
Fri, 03 Oct 2025NOK 22.5bNOK 10.2bNOK 851.7m34.4x26.4x2.2x
Sun, 31 Aug 2025NOK 24.5bNOK 10.2bNOK 820.6m36.5x29.9x2.4x
Tue, 29 Jul 2025NOK 23.8bNOK 10.3bNOK 299.4m44.3x79.6x2.3x
Thu, 26 Jun 2025NOK 22.6bNOK 10.3bNOK 300.6m43x75x2.2x
Sat, 24 May 2025NOK 20.7bNOK 10.3bNOK 295.7m40.3x70x2x
Mon, 21 Apr 2025NOK 18.2bNOK 10.2bNOK 336.7m35.4x53.9x1.8x
Wed, 19 Mar 2025NOK 18.1bNOK 10.2bNOK 330.3m37.1x54.7x1.8x
Fri, 14 Feb 2025NOK 19.1bNOK 10.0bNOK 324.1m30.2x59x1.9x
Sun, 12 Jan 2025NOK 18.8bNOK 10.0bNOK 319.8m29.3x58.7x1.9x
Tue, 10 Dec 2024NOK 20.1bNOK 10.0bNOK 328.1m29.1x61.2x2x
Thu, 07 Nov 2024NOK 25.4bNOK 11.4bNOK 279.5m32.6x90.8x2.2x
Sat, 05 Oct 2024NOK 25.8bNOK 11.4bNOK 292.2m33.8x88.2x2.3x
Mon, 02 Sep 2024NOK 25.3bNOK 11.4bNOK 281.8m32.8x89.6x2.2x
Wed, 31 Jul 2024NOK 23.9bNOK 11.0bNOK 463.5m19x51.5x2.2x
Fri, 28 Jun 2024NOK 21.9bNOK 11.0bNOK 460.2m19x47.7x2x
Sun, 26 May 2024NOK 22.4bNOK 11.0bNOK 444.5m19.6x50.3x2x
Tue, 23 Apr 2024NOK 20.0bNOK 10.6bNOK 60.4m23.8x330.7x1.9x
Thu, 21 Mar 2024NOK 20.5bNOK 10.5bNOK 77.6m23.3x263.7x1.9x
Sat, 17 Feb 2024NOK 20.1bNOK 10.5bNOK 282.8m22x71.1x1.9x
Mon, 15 Jan 2024NOK 28.3bNOK 12.4b-NOK 729,306,027.0015.7x-38.8x2.3x
Wed, 13 Dec 2023NOK 27.4bNOK 12.4b-NOK 736,957,617.0015.7x-37.2x2.2x
Fri, 10 Nov 2023NOK 25.8bNOK 12.0b-NOK 682,900,210.0014.2x-37.8x2.1x
Sun, 08 Oct 2023NOK 24.9bNOK 12.0b-NOK 687,083,153.0015.5x-36.3x2.1x
Tue, 05 Sep 2023NOK 26.3bNOK 12.0b-NOK 681,022,163.0013.2x-38.6x2.2x
Thu, 03 Aug 2023NOK 26.1bNOK 11.3b-NOK 861,922,095.009.5x-30.3x2.3x
Sat, 01 Jul 2023NOK 25.1bNOK 11.3b-NOK 877,813,694.0010.1x-28.6x2.2x
Mon, 29 May 2023NOK 24.9bNOK 11.3b-NOK 963,085,676.009.6x-25.8x2.2x
Wed, 26 Apr 2023NOK 22.9bNOK 10.9b-NOK 944,548,362.0015.1x-24.2x2.1x
Fri, 24 Mar 2023NOK 23.3bNOK 10.9b-NOK 1,452,745,738.0031.1x-16.1x2.1x
Sun, 19 Feb 2023NOK 25.8bNOK 10.9b-NOK 1,387,447,280.0037.3x-18.6x2.4x
Price to Earnings Ratio

-18.6x


Total Market Cap: NOK 25.8bTotal Earnings: -NOK 1,387,447,280.00Total Revenue: NOK 10.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 49.2x202420252026
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 24.9x which is lower than its 3-year average PE of 49.2x.
  • 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 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 Market3.78%
Tech2.38%
Software-3.10%
Application Software-3.10%
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 25.300.4%
+NOK 29.0m		11.7%PE69.8x
OTEC OtelloNOK 18.151.1%
+NOK 14.0m		140.1%PE3.3x
ELABS Elliptic LaboratoriesNOK 4.592.2%
+NOK 10.5m		-52.4%PS3.4x
RIVER River TechNOK 4.183.5%
+NOK 2.9m		-76.1%PE1.3x

Latest News

LINK
NOK 25.30
LINK Mobility Group Holding
7D
0.4%
1Y
11.7%

LINK: Steady Fair Value And Higher Future P/E Will Support Upside

Analysts have kept their fair value estimate for LINK Mobility Group Holding steady at €40.00, while updating their assumptions to reflect a slightly higher discount rate, a lower revenue growth outlook, a reduced profit margin and a higher future P/E multiple, which together explain the unchanged price target. What's in the News An extraordinary general meeting is scheduled for February 3, 2026, at 10:00 W.
ELABS
NOK 4.59
Elliptic Laboratories
7D
2.2%
1Y
-52.4%

ELABS: New Smartphone Licensing Wins Will Support Future Upside Potential

Analysts have maintained their price target for Elliptic Laboratories at €13.0. Their updated assumptions reflect a slightly higher discount rate and a small adjustment to the future P/E multiple, while revenue growth and profit margin expectations remain unchanged. What's in the News Elliptic Labs shipped its AI Virtual Smart Sensor Platform on seven smartphone models in December 2025, including five models from Vivo and two from HONOR, contributing to a total of 65 smartphone models using its technology in 2025 (Key Developments).
PEXIP
NOK 70.90
Pexip Holding
7D
-3.5%
1Y
57.9%

PEXIP: Future Outlook Will Emphasize Fair Value Margins And Earnings Multiple

Analysts have adjusted their price target for Pexip Holding to reflect updated assumptions around slightly higher revenue growth, a lower profit margin profile, and a higher future P/E multiple. Valuation Changes Fair Value: Kept unchanged at 77.5, indicating no revision to the central value estimate.
SMCRT
NOK 17.15
SmartCraft
7D
-13.2%
1Y
-39.2%
RIVER
NOK 4.18
River Tech
7D
3.5%
1Y
-76.1%
OTEC
NOK 18.15
Otello
7D
1.1%
1Y
140.1%
AIX
NOK 4.10
Ayfie International
7D
-4.4%
1Y
2.5%
INDCT
NOK 3.86
Induct
7D
-12.7%
1Y
-24.3%