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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies10
  • 7D2.4%
  • 3M11.6%
  • 1Y29.0%
  • YTDn/a

Pexip Holding is up 3.6%, leading the way for the Application Software industry, which has gained 2.4%. This takes the industry's 12 month performance to a gain of 29%. Looking forward, earnings are forecast to grow by 49% annually.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 02 Jan 2026NOK 25.4bNOK 10.3bNOK 857.1m41.2x29.6x2.5x
Sun, 30 Nov 2025NOK 22.2bNOK 10.3bNOK 858.0m35.4x25.8x2.2x
Tue, 28 Oct 2025NOK 22.8bNOK 10.2bNOK 851.0m33.5x26.8x2.2x
Thu, 25 Sep 2025NOK 23.2bNOK 10.2bNOK 849.9m36.3x27.3x2.3x
Sat, 23 Aug 2025NOK 24.3bNOK 10.2bNOK 836.5m36.6x29.1x2.4x
Mon, 21 Jul 2025NOK 23.5bNOK 10.3bNOK 299.7m45.5x78.6x2.3x
Wed, 18 Jun 2025NOK 22.2bNOK 10.3bNOK 298.6m43.6x74.2x2.2x
Fri, 16 May 2025NOK 20.6bNOK 10.3bNOK 299.5m40.8x68.6x2x
Sun, 13 Apr 2025NOK 17.5bNOK 10.2bNOK 334.7m34.5x52.3x1.7x
Tue, 11 Mar 2025NOK 17.8bNOK 10.2bNOK 327.1m36.7x54.5x1.8x
Thu, 06 Feb 2025NOK 19.2bNOK 10.0bNOK 325.2m28.8x59x1.9x
Sat, 04 Jan 2025NOK 19.6bNOK 10.0bNOK 321.5m28.9x61x2x
Mon, 02 Dec 2024NOK 19.4bNOK 10.0bNOK 318.3m29.6x61.1x2x
Wed, 30 Oct 2024NOK 25.9bNOK 11.4bNOK 286.0m32x90.7x2.3x
Fri, 27 Sep 2024NOK 25.4bNOK 11.4bNOK 295.6m33.2x85.9x2.2x
Sun, 25 Aug 2024NOK 24.5bNOK 11.4bNOK 295.8m30.7x82.9x2.2x
Tue, 23 Jul 2024NOK 23.6bNOK 11.0bNOK 464.2m18.4x50.8x2.1x
Thu, 20 Jun 2024NOK 21.8bNOK 11.0bNOK 459.6m18.8x47.4x2x
Sat, 18 May 2024NOK 22.5bNOK 11.0bNOK 446.2m19.6x50.4x2x
Mon, 15 Apr 2024NOK 20.8bNOK 10.6bNOK 58.6m23.7x355.2x2x
Wed, 13 Mar 2024NOK 20.3bNOK 10.5bNOK 77.1m23.4x263.9x1.9x
Fri, 09 Feb 2024NOK 19.4bNOK 10.4bNOK 34.1m25.6x569.9x1.9x
Sun, 07 Jan 2024NOK 28.0bNOK 12.4b-NOK 729,495,121.0015.5x-38.4x2.3x
Tue, 05 Dec 2023NOK 26.9bNOK 12.4b-NOK 748,732,331.0015.5x-36x2.2x
Thu, 02 Nov 2023NOK 24.6bNOK 12.0b-NOK 689,963,567.0014.9x-35.7x2x
Sat, 30 Sep 2023NOK 25.6bNOK 12.0b-NOK 685,232,202.0014.9x-37.3x2.1x
Mon, 28 Aug 2023NOK 25.1bNOK 12.0b-NOK 686,525,036.0013x-36.6x2.1x
Wed, 26 Jul 2023NOK 26.4bNOK 11.3b-NOK 858,527,251.009.1x-30.7x2.3x
Fri, 23 Jun 2023NOK 25.2bNOK 11.3b-NOK 875,971,864.0010x-28.8x2.2x
Sun, 21 May 2023NOK 25.1bNOK 11.3b-NOK 959,054,540.009.2x-26.1x2.2x
Tue, 18 Apr 2023NOK 23.8bNOK 10.9b-NOK 1,463,058,416.0031.3x-16.2x2.2x
Thu, 16 Mar 2023NOK 23.4bNOK 10.9b-NOK 1,476,906,520.0030.4x-15.8x2.2x
Sat, 11 Feb 2023NOK 26.5bNOK 10.5b-NOK 938,039,315.0026.8x-28.2x2.5x
Mon, 09 Jan 2023NOK 25.8bNOK 10.5b-NOK 931,706,664.0028.1x-27.6x2.5x
Price to Earnings Ratio

-27.6x


Total Market Cap: NOK 25.8bTotal Earnings: -NOK 931,706,664.00Total Revenue: NOK 10.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 47.1x202420252026
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 29.7x which is lower than its 3-year average PE of 47.1x.
  • 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 Market1.39%
Tech1.77%
Software2.40%
Application Software2.40%
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 77.903.6%
+NOK 276.7m		77.7%PE40.8x
LINK LINK Mobility Group HoldingNOK 33.902.9%
+NOK 275.2m		42.1%PE93.5x
ELABS Elliptic LaboratoriesNOK 6.794.9%
+NOK 33.7m		-39.9%PS5.1x
SMCRT SmartCraftNOK 25.000.4%
+NOK 16.5m		-15.5%PE41.5x
RIVER River TechNOK 4.4011.7%
+NOK 9.5m		-76.3%PE1.3x

Latest News

SMCRT
NOK 25.00
SmartCraft
7D
0.4%
1Y
-15.5%
LINK
NOK 33.90
LINK Mobility Group Holding
7D
2.9%
1Y
42.1%
PEXIP
NOK 77.90
Pexip Holding
7D
3.6%
1Y
77.7%

PEXIP: Future Outlook Will Balance Margin Gains With Higher Earnings Multiple Assumptions

Analysts have raised their price target on Pexip Holding to NOK 77.50 from NOK 68.33, citing slightly lower growth expectations, which are offset by improved profit margin assumptions and a higher anticipated future P/E multiple. Valuation Changes Fair Value Estimate has risen moderately, from NOK 68.33 to NOK 77.50.
ELABS
NOK 6.79
Elliptic Laboratories
7D
4.9%
1Y
-39.9%

ELABS: Smartphone Deployment Momentum Will Drive Future Upside Despite Leadership Changes

Narrative Update on Elliptic Laboratories Analysts have modestly revised their price target on Elliptic Laboratories to NOK 13.00, reflecting largely unchanged expectations for growth, profitability, and valuation multiples, with only minor model adjustments. What's in the News CEO transition: long-time CEO Laila Danielsen will step down after 12 years, with SVP Product Development and IR Ola Sandstad appointed interim CEO from 6 November 2025 (company announcement) CFO change: CFO Lars Holmøy has resigned after more than four years, with Senior Finance Manager Mathias Norderud named interim CFO effective 24 September 2025, while Holmøy remains to 30 November to support the handover (company announcement) Client momentum: Elliptic Labs shipped its AI Virtual Smart Sensor Platform on nine new smartphone models in September 2025 across HONOR, vivo and Transsion, taking year-to-date launches to 54 models (company announcement) New OEM relationship: the company expanded its reach in October 2025 by debuting on TCL smartphone NxtPaper 60 Ultra, alongside launches with vivo and Xiaomi, lifting year-to-date deployments to 58 models (company announcement) Valuation Changes Fair value: unchanged at NOK 13.0 per share, indicating stable overall valuation assumptions.
OTEC
NOK 18.15
Otello
7D
-0.5%
1Y
136.9%
RIVER
NOK 4.40
River Tech
7D
11.7%
1Y
-76.3%

Investors Don't See Light At End Of River Tech p.l.c.'s (OB:RIVER) Tunnel And Push Stock Down 29%

Nov 30
Investors Don't See Light At End Of River Tech p.l.c.'s (OB:RIVER) Tunnel And Push Stock Down 29%
SPIR
NOK 8.44
Spir Group
7D
-0.2%
1Y
1.4%
AIX
NOK 3.75
Ayfie International
7D
-5.8%
1Y
-10.7%