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

Finnish (OMX) Tech Sector Analysis

UpdatedJan 09, 2026
DataAggregated Company Financials
Companies30
  • 7D0.3%
  • 3M18.9%
  • 1Y19.0%
  • YTD1.2%

The Tech industry is up 3.0% in the last week, with Bittium Oyj up 6.8%. Meanwhile, SSH Communications Security Oyj actually underperformed within the industry, shrinking 13% in the last week. This means that the industry has gained 21% over the past year. Looking forward, earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

Has the Finnish Tech Sector valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 09 Jan 2026€40.4b€26.3b€905.7m25.6x44.6x1.5x
Sun, 07 Dec 2025€37.9b€26.1b€905.7m24.3x41.8x1.5x
Tue, 04 Nov 2025€42.2b€26.3b€912.0m24.6x46.3x1.6x
Thu, 02 Oct 2025€30.9b€25.7b€959.1m24.5x32.2x1.2x
Sat, 30 Aug 2025€28.5b€25.7b€964.5m24.8x29.6x1.1x
Mon, 28 Jul 2025€29.0b€25.7b€981.7m26.9x29.6x1.1x
Wed, 25 Jun 2025€33.1b€25.7b€1.4b25.9x24.2x1.3x
Fri, 23 May 2025€34.4b€25.7b€1.4b25.6x25.2x1.3x
Sun, 20 Apr 2025€33.2b€25.8b€1.9b24.1x17.7x1.3x
Tue, 18 Mar 2025€36.2b€25.8b€1.9b25.7x19.3x1.4x
Thu, 13 Feb 2025€35.0b€25.8b€2.0b20.4x17.1x1.4x
Sat, 11 Jan 2025€32.6b€26.4b€1.3b26x25.9x1.2x
Mon, 09 Dec 2024€31.1b€26.4b€1.3b24.2x24.7x1.2x
Wed, 06 Nov 2024€32.0b€26.4b€1.3b25.5x25.4x1.2x
Fri, 04 Oct 2024€31.0b€26.8b€1.3b23.4x24.6x1.2x
Sun, 01 Sep 2024€31.6b€26.8b€1.3b23.8x25.1x1.2x
Tue, 30 Jul 2024€28.8b€26.9b€1.3b21x23x1.1x
Thu, 27 Jun 2024€28.4b€27.8b€1.1b21.9x24.8x1x
Sat, 25 May 2024€29.2b€27.8b€1.1b23.2x25.6x1.1x
Mon, 22 Apr 2024€26.8b€27.8b€1.2b20.3x23.1x1x
Wed, 20 Mar 2024€26.7b€29.0b€1.0b17.9x26.5x0.9x
Fri, 16 Feb 2024€27.1b€29.1b€1.0b20.4x26x0.9x
Sun, 14 Jan 2024€27.4b€31.1b€4.2b17.1x6.5x0.9x
Tue, 12 Dec 2023€25.6b€31.1b€4.2b16.2x6.1x0.8x
Thu, 09 Nov 2023€27.0b€31.1b€4.2b14.8x6.4x0.9x
Sat, 07 Oct 2023€27.7b€32.4b€4.5b16.2x6.1x0.9x
Mon, 04 Sep 2023€30.4b€32.3b€4.5b16.7x6.7x0.9x
Wed, 02 Aug 2023€30.3b€32.3b€4.5b23.1x6.7x0.9x
Fri, 30 Jun 2023€32.4b€32.4b€4.7b23.8x6.9x1x
Sun, 28 May 2023€32.8b€32.4b€4.7b25.7x7x1x
Tue, 25 Apr 2023€33.2b€32.3b€4.7b26.6x7.1x1x
Thu, 23 Mar 2023€35.6b€31.7b€4.5b27.4x7.8x1.1x
Sat, 18 Feb 2023€36.9b€28.8b€4.5b28.6x8.1x1.3x
Mon, 16 Jan 2023€36.9b€30.7b€2.1b28.7x17.5x1.2x
Price to Earnings Ratio

17.5x


Total Market Cap: €36.9bTotal Earnings: €2.1bTotal Revenue: €30.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 20.1x202420252026
Current Industry PE
  • Investors are optimistic on the Finnish Information Technology industry, and appear confident in long term growth rates.
  • The industry is trading at a PE ratio of 45.8x which is higher than its 3-year average PE of 20.1x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 25% per year over the last three years,
  • Revenues have also declined 5.0% per year.
  • This means overall sales from these companies are declining and profits are subsequently falling as well.

Industry Trends

Which industries have driven the changes within the Finnish Tech sector?

FI Market1.12%
Tech0.31%
Software1.32%
IT0.98%
Electronic Equipment and Components0.69%
Communications0.044%
Tech Hardware0%0
Semiconductors0%0
Industry PE
  • Investors are most optimistic about the Software industry even though it's trading below its 3-year average PE ratio of 116x.
    • Analysts are expecting annual earnings growth of 36.9%, which is higher than its past year's earnings decline of 9.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the IT industry, expecting annual earnings growth of 78% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Electronic Equipment and Components industry is expected to see its earnings grow by 16% per year over the next few years.

Top Stock Gainers and Losers

Which companies have driven the market over the last 7 days?

CompanyLast Price7D1YValuation
BITTI Bittium Oyj€32.006.8%
+€72.8m		387.8%PE175.7x
TIETO TietoEVRY Oyj€18.541.3%
+€28.4m		5.0%PS0.8x
CANATU Canatu Oyj€8.868.3%
+€23.6m		-24.3%PS27.5x
NOKIA Nokia Oyj€5.570.04%
+€11.2m		26.3%PE36.7x
VAIAS Vaisala Oyj€44.350.7%
+€10.9m		-8.6%PE25.6x

Latest News

SSH1V
€2.75
SSH Communications Security Oyj
7D
-12.7%
1Y
154.6%
CANATU
€8.86
Canatu Oyj
7D
8.3%
1Y
-24.3%
BITTI
€32.00
Bittium Oyj
7D
6.8%
1Y
387.8%

BITTI: Raised Earnings Outlook And Defense Orders Will Still Not Justify Rich P/E

Analysts have lifted their price target on Bittium Oyj to €22.40 from €20.73, citing updated assumptions around revenue growth, profit margins and the future P/E multiple as key drivers of the change. What's in the News Bittium Corporation raised its 2025 earnings guidance, now estimating net sales of €116m to €120m and operating profit of €19m to €21m, compared with earlier guidance of net sales of €95m to €105m and operating profit of €10m to €13m (Corporate Guidance).
DIGIGR
€1.90
Digitalist Group
7D
-15.8%
1Y
-39.8%

Market Cool On Digitalist Group Plc's (HEL:DIGIGR) Revenues Pushing Shares 26% Lower

Jan 08
Market Cool On Digitalist Group Plc's (HEL:DIGIGR) Revenues Pushing Shares 26% Lower
SCANFL
€10.02
Scanfil Oyj
7D
0.4%
1Y
20.7%

SCANFL: Fair Value Stability Will Likely Reflect Balanced Execution And Risk Assumptions

Analysts have maintained their fair value estimate for Scanfil Oyj at €10.73. The latest price target update reflects only minor adjustments to assumptions on the discount rate, revenue growth, profit margins and future P/E ratio.
NOKIA
€5.57
Nokia Oyj
7D
0.04%
1Y
26.3%

NOKIA: AI Demand And U.S. Investment Will Shape Balanced Risk Ahead

Analysts have made a modest adjustment to their price target framework for Nokia Oyj, refining assumptions around revenue growth, profit margins and future P/E multiples, while citing a mix of higher targets from several banks and more cautious views that focus on telecom capex risks and segment level valuation. Analyst Commentary Recent research on Nokia Oyj shows a split view, with some analysts highlighting improving growth optionality and others focusing on execution risks and valuation constraints tied to capital spending trends in telecom networks.
TIETO
€18.54
TietoEVRY Oyj
7D
1.3%
1Y
5.0%

TIETO: Bolt-On M&A Focus Will Support Cautious Organic Outlook And Margins

Analysts have raised their price target on TietoEVRY Oyj slightly, now implying an updated fair value of approximately €18.16 per share. They cite modestly higher discount rate assumptions and expectations for somewhat softer near term revenue growth and profit margins, balanced by a higher future earnings multiple.
TEM1V
€4.28
Tecnotree Oyj
7D
-0.8%
1Y
59.5%
DETEC
€11.00
Detection Technology Oyj
7D
-0.9%
1Y
-24.1%

DETEC: Future Indian Expansion Will Support Earnings Upside And Margin Resilience

Analysts have maintained their EUR 15.00 price target for Detection Technology Oyj, as slightly stronger long term revenue growth and profit margin assumptions were effectively offset by a modestly lower future P E multiple and discount rate, leaving their overall valuation view unchanged. What's in the News Inaugurated a new service and production facility in Cyberwalk Tech Park in the Greater Delhi area, India, strengthening its local presence and improving lead times and cost efficiency for regional customers (Key Developments) Established DT Detection Technology India Private Ltd as a fully owned subsidiary to operate the new Indian site and support global growth ambitions (Key Developments) Issued guidance for a single digit year on year decline in total net sales for the fourth quarter of 2025, followed by expected double digit growth in the first quarter of 2026 (Key Developments) Hosted an Analyst/Investor Day to update the market on strategy, operations, and outlook (Key Developments) Valuation Changes Fair Value: unchanged at €15.00 per share.
NETUM
€1.11
Netum Group Oyj
7D
-3.5%
1Y
-59.5%
QTCOM
€32.34
Qt Group Oyj
7D
-1.8%
1Y
-55.3%

QTCOM: Expanded Chip Partnerships Will Drive Future Edge Computing Upside

Analysts have nudged their price target on Qt Group Oyj slightly higher to EUR 44.75 from EUR 44.75. This reflects marginal improvements in the discount rate and long term valuation assumptions, despite largely unchanged growth and profitability forecasts.
ICP1V
€9.96
Incap Oyj
7D
1.4%
1Y
-6.7%
DIGIA
€6.48
Digia Oyj
7D
-2.4%
1Y
-2.1%

Digia Oyj's (HEL:DIGIA) Shares Lagging The Market But So Is The Business

Dec 09
Digia Oyj's (HEL:DIGIA) Shares Lagging The Market But So Is The Business
LEMON
€6.44
Lemonsoft Oyj
7D
5.2%
1Y
10.1%
VAIAS
€44.35
Vaisala Oyj
7D
0.7%
1Y
-8.6%

Vaisala Oyj (HEL:VAIAS) Just Beat Earnings: Here's What Analysts Think Will Happen Next

Oct 28
Vaisala Oyj (HEL:VAIAS) Just Beat Earnings: Here's What Analysts Think Will Happen Next
VINCIT
€1.26
Vincit Oyj
7D
-1.6%
1Y
-22.7%