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Norwegian (OSEAX) Application Software Industry Analysis

UpdatedJan 25, 2026
DataAggregated Company Financials
Companies10
  • 7D0.8%
  • 3M13.4%
  • 1Y32.1%
  • YTDn/a

Over the last 7 days, the Application Software industry has remained flat, although notably Elliptic Laboratories declined by 6.6%. The past year has been better, since the industry has gained 32% in that time. As for the next few years, earnings are expected to grow by 47% per annum.

Industry Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 25 Jan 2026NOK 25.1bNOK 10.3bNOK 842.9m40.8x29.8x2.4x
Tue, 23 Dec 2025NOK 24.9bNOK 10.3bNOK 858.5m40.4x29x2.4x
Thu, 20 Nov 2025NOK 20.8bNOK 10.3bNOK 850.8m33.8x24.5x2x
Sat, 18 Oct 2025NOK 21.8bNOK 10.2bNOK 854.3m32.7x25.6x2.1x
Mon, 15 Sep 2025NOK 24.0bNOK 10.2bNOK 804.4m36.9x29.9x2.3x
Wed, 13 Aug 2025NOK 24.3bNOK 10.3bNOK 299.6m42x81.3x2.4x
Fri, 11 Jul 2025NOK 23.0bNOK 10.3bNOK 301.6m43.2x76.1x2.2x
Sun, 08 Jun 2025NOK 21.9bNOK 10.3bNOK 295.7m42.9x74.2x2.1x
Tue, 06 May 2025NOK 19.0bNOK 10.2bNOK 320.6m37x59.1x1.9x
Thu, 03 Apr 2025NOK 17.8bNOK 10.2bNOK 330.8m35.5x53.9x1.8x
Sat, 01 Mar 2025NOK 19.0bNOK 10.2bNOK 313.1m38.1x60.6x1.9x
Mon, 27 Jan 2025NOK 19.0bNOK 10.0bNOK 326.1m28x58.2x1.9x
Wed, 25 Dec 2024NOK 19.5bNOK 10.0bNOK 322.9m29.3x60.5x2x
Fri, 22 Nov 2024NOK 18.8bNOK 10.0bNOK 314.2m28.4x59.9x1.9x
Sun, 20 Oct 2024NOK 25.8bNOK 11.4bNOK 287.1m33.1x89.9x2.3x
Tue, 17 Sep 2024NOK 25.3bNOK 11.4bNOK 282.6m32.9x89.4x2.2x
Thu, 15 Aug 2024NOK 23.6bNOK 11.0bNOK 463.0m19.6x50.9x2.1x
Sat, 13 Jul 2024NOK 23.7bNOK 11.0bNOK 461.3m18.5x51.4x2.2x
Mon, 10 Jun 2024NOK 21.7bNOK 11.0bNOK 461.5m18.8x47x2x
Wed, 08 May 2024NOK 22.0bNOK 10.6bNOK 178.9m43.3x123.2x2.1x
Fri, 05 Apr 2024NOK 21.4bNOK 10.5bNOK 74.8m23.6x285.6x2x
Sun, 03 Mar 2024NOK 19.9bNOK 10.5bNOK 76.4m23.8x260.1x1.9x
Tue, 30 Jan 2024NOK 28.8bNOK 12.4b-NOK 731,205,307.0017.6x-39.4x2.3x
Thu, 28 Dec 2023NOK 27.9bNOK 12.4b-NOK 726,646,951.0015.7x-38.3x2.3x
Sat, 25 Nov 2023NOK 26.5bNOK 12.1b-NOK 648,121,805.0015.3x-40.9x2.2x
Mon, 23 Oct 2023NOK 24.9bNOK 12.0b-NOK 688,255,436.0014.6x-36.1x2.1x
Wed, 20 Sep 2023NOK 25.5bNOK 12.0b-NOK 681,767,577.0013.1x-37.3x2.1x
Fri, 18 Aug 2023NOK 26.1bNOK 11.4b-NOK 800,955,724.0011x-32.5x2.3x
Sun, 16 Jul 2023NOK 24.9bNOK 11.3b-NOK 857,034,441.009x-29.1x2.2x
Tue, 13 Jun 2023NOK 24.9bNOK 11.3b-NOK 944,645,939.0010x-26.3x2.2x
Thu, 11 May 2023NOK 24.7bNOK 11.0b-NOK 817,083,272.009.8x-30.2x2.2x
Sat, 08 Apr 2023NOK 23.7bNOK 10.9b-NOK 1,463,327,463.0032.8x-16.2x2.2x
Mon, 06 Mar 2023NOK 25.2bNOK 10.9b-NOK 1,457,634,459.0037x-17.3x2.3x
Wed, 01 Feb 2023NOK 26.3bNOK 10.5b-NOK 930,021,877.0027.6x-28.2x2.5x
Price to Earnings Ratio

-28.2x


Total Market Cap: NOK 26.3bTotal Earnings: -NOK 930,021,877.00Total Revenue: NOK 10.5bTotal Market Cap vs Earnings and Revenue0%0%0%
Norwegian Application Software Industry Price to Earnings3Y Average 48.3x202420252026
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 29.8x which is lower than its 3-year average PE of 48.3x.
  • The 3-year average PS ratio of 2.1x is lower than the industry's current PS ratio of 2.4x.
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 Market-0.86%
Tech-0.29%
Software0.84%
Application Software0.84%
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 76.901.3%
+NOK 102.5m		73.2%PE40.3x
OTEC OtelloNOK 18.406.7%
+NOK 76.3m		138.3%PE3.3x
LINK LINK Mobility Group HoldingNOK 33.850.6%
+NOK 57.9m		54.6%PE93.4x
AIX Ayfie InternationalNOK 4.0015.6%
+NOK 13.5m		6.7%n/a
SPIR Spir GroupNOK 8.500.7%
+NOK 8.0m		4.7%PE392.4x

Latest News

ELABS
NOK 5.41
Elliptic Laboratories
7D
-6.6%
1Y
-51.5%

ELABS: Smartphone Platform Wins And New Licensing Pipeline Will Support Upside

Analysts kept their fair value estimate for Elliptic Laboratories steady at €13.00, citing only very small tweaks to their discount rate, revenue growth, profit margin and future P/E assumptions rather than any shift in the core outlook. What's in the News Shipped the AI Virtual Smart Sensor Platform on seven smartphone models in December 2025, including five models from Vivo and two from HONOR, with a total of 65 smartphone models using Elliptic Labs' technology in 2025 (company announcement).
PEXIP
NOK 76.90
Pexip Holding
7D
1.3%
1Y
73.2%

PEXIP: Future Outlook Will Emphasize Stable Margins And Earnings Multiple Assumptions

Analysts have kept their price target for Pexip Holding steady, citing only marginal tweaks to inputs such as the discount rate, revenue growth assumptions, profit margin outlook, and future P/E that together do not materially shift their view on fair value at about $77.50. Valuation Changes Fair Value: Kept unchanged at NOK 77.50 per share, indicating no alteration to the overall valuation anchor.
SMCRT
NOK 24.90
SmartCraft
7D
-0.4%
1Y
-12.6%
LINK
NOK 33.85
LINK Mobility Group Holding
7D
0.6%
1Y
54.6%

Is LINK Mobility Group Holding (OB:LINK) Using Too Much Debt?

Jan 15
Is LINK Mobility Group Holding (OB:LINK) Using Too Much Debt?
RIVER
NOK 4.30
River Tech
7D
4.4%
1Y
-76.2%
SPIR
NOK 8.50
Spir Group
7D
0.7%
1Y
4.7%
OTEC
NOK 18.40
Otello
7D
6.7%
1Y
138.3%
AIX
NOK 4.00
Ayfie International
7D
15.6%
1Y
6.7%
INDCT
NOK 4.38
Induct
7D
-0.5%
1Y
-6.4%