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Finnish (OMX) Tech Sector Analysis

UpdatedJan 01, 2026
DataAggregated Company Financials
Companies30
  • 7D1.3%
  • 3M25.9%
  • 1Y20.5%
  • YTDn/a

The Tech industry is up 1.3% in the last week, with Nokia Oyj up 1.0%. In the last 12 months, the industry was up 21%. 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
Thu, 01 Jan 2026€40.3b€26.3b€905.7m24.6x44.5x1.5x
Sat, 29 Nov 2025€37.9b€26.3b€912.7m25x41.5x1.4x
Mon, 27 Oct 2025€37.8b€26.3b€912.1m25.9x41.4x1.4x
Wed, 24 Sep 2025€30.7b€25.7b€959.1m24.9x32x1.2x
Fri, 22 Aug 2025€28.3b€25.7b€964.9m24.5x29.3x1.1x
Sun, 20 Jul 2025€31.7b€25.7b€1.4b26.6x23.3x1.2x
Tue, 17 Jun 2025€33.7b€25.7b€1.4b26.1x24.7x1.3x
Thu, 15 May 2025€33.5b€25.7b€1.4b24.9x24.5x1.3x
Sat, 12 Apr 2025€31.8b€25.8b€1.9b22.9x16.9x1.2x
Mon, 10 Mar 2025€35.8b€25.8b€1.9b26.3x19x1.4x
Wed, 05 Feb 2025€33.7b€25.8b€2.0b23.8x16.5x1.3x
Fri, 03 Jan 2025€32.2b€26.4b€1.3b25.5x25.6x1.2x
Sun, 01 Dec 2024€29.6b€26.4b€1.3b24.6x23.5x1.1x
Tue, 29 Oct 2024€33.8b€26.4b€1.3b23.3x26.9x1.3x
Thu, 26 Sep 2024€31.0b€26.8b€1.3b23.9x24.6x1.2x
Sat, 24 Aug 2024€30.1b€26.8b€1.3b22.4x23.9x1.1x
Mon, 22 Jul 2024€27.7b€26.8b€1.2b21.4x22.3x1x
Wed, 19 Jun 2024€28.3b€27.8b€1.1b22.5x24.8x1x
Fri, 17 May 2024€29.3b€27.8b€1.1b22x25.7x1.1x
Sun, 14 Apr 2024€26.4b€29.0b€1.0b20.1x26.2x0.9x
Tue, 12 Mar 2024€27.6b€29.0b€1.0b17.3x27.4x1x
Thu, 08 Feb 2024€27.1b€29.1b€1.0b20.6x26x0.9x
Sat, 06 Jan 2024€27.2b€31.1b€4.2b16.9x6.5x0.9x
Mon, 04 Dec 2023€27.0b€31.1b€4.2b16.4x6.4x0.9x
Wed, 01 Nov 2023€26.0b€31.1b€4.2b13.8x6.2x0.8x
Fri, 29 Sep 2023€28.2b€32.3b€4.5b17.7x6.2x0.9x
Sun, 27 Aug 2023€28.9b€32.3b€4.5b19.3x6.4x0.9x
Tue, 25 Jul 2023€30.1b€32.2b€4.5b22.1x6.7x0.9x
Thu, 22 Jun 2023€32.3b€32.4b€4.7b25.1x6.9x1x
Sat, 20 May 2023€33.0b€32.4b€4.7b26.2x7x1x
Mon, 17 Apr 2023€37.4b€31.8b€4.5b27.8x8.2x1.2x
Wed, 15 Mar 2023€36.1b€31.7b€4.6b27.3x7.9x1.1x
Fri, 10 Feb 2023€35.8b€31.8b€4.6b27.5x7.8x1.1x
Sun, 08 Jan 2023€35.7b€30.7b€2.1b26.8x16.9x1.2x
Price to Earnings Ratio

16.9x


Total Market Cap: €35.7bTotal Earnings: €2.1bTotal Revenue: €30.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 19.9x202420252026
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 44.5x which is higher than its 3-year average PE of 19.9x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
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 Market1.35%
Tech1.31%
Software5.28%
IT1.46%
Communications0.98%
Electronic Equipment and Components0.55%
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 37.3%, 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 15% 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
NOKIA Nokia Oyj€5.571.0%
+€302.1m		29.0%PE36.7x
BITTI Bittium Oyj€29.9512.4%
+€117.2m		340.4%PE164.5x
TIETO TietoEVRY Oyj€18.301.4%
+€30.8m		5.2%PS0.8x
QTCOM Qt Group Oyj€32.942.8%
+€22.9m		-53.1%PE20x
VAIAS Vaisala Oyj€44.050.7%
+€10.9m		-10.8%PE25.4x

Latest News

BITTI
€29.95
Bittium Oyj
7D
12.4%
1Y
340.4%
SCANFL
€9.98
Scanfil Oyj
7D
-0.1%
1Y
18.5%

SCANFL: Future Earnings Will Likely Remain Resilient Amid Modest Margin Risks

Analysts have modestly raised their price target on Scanfil Oyj to €10.73 from €10.73, citing slightly lower discount rate assumptions and marginally improved long term earnings quality, which is reflected in a marginally higher future P/E multiple. Analyst Commentary Analyst commentary on Scanfil Oyj remains balanced, with incremental optimism on execution and earnings quality tempered by valuation and cycle concerns.
GOFORE
€13.48
Gofore Oyj
7D
-0.3%
1Y
-40.0%
NOKIA
€5.57
Nokia Oyj
7D
1.0%
1Y
29.0%

NOKIA: AI And Cloud Demand Will Drive Margin Expansion And Upside Potential

Nokia Oyj's analyst fair value estimate has been raised from EUR 5.75 to EUR 7.20, as analysts highlight improving margins, slightly stronger growth expectations, and an increasingly compelling AI driven equity story, despite mixed views on long term network infrastructure targets. Analyst Commentary Recent Street research on Nokia Oyj reflects a notable shift toward a more constructive stance, with several bullish analysts highlighting improving execution, a clearer growth algorithm, and a more compelling equity story tied to artificial intelligence and cloud driven demand.
TIETO
€18.30
TietoEVRY Oyj
7D
1.4%
1Y
5.2%

TIETO: Higher Future Margins Are Expected To Drive Stronger Returns

Analysts have raised their fair value estimate for TietoEVRY Oyj by EUR 1.00 to EUR 21.00, citing expectations of stronger profit margins and a slightly lower discount rate, despite a modestly weaker revenue growth outlook and a lower implied future P E multiple. What's in the News TietoEVRY Oyj has ruled out large scale mergers and acquisitions during its current strategy period, responding to investor concerns about its past M&A track record (Capital Markets Day).
QTCOM
€32.94
Qt Group Oyj
7D
2.8%
1Y
-53.1%

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.
DIGIGR
€2.25
Digitalist Group
7D
-6.3%
1Y
-34.8%
ICP1V
€9.82
Incap Oyj
7D
-0.3%
1Y
-5.1%
FSECURE
€1.93
F-Secure Oyj
7D
1.6%
1Y
7.9%
DIGIA
€6.64
Digia Oyj
7D
4.7%
1Y
-0.6%

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
DWF
€2.65
Digital Workforce Services Oyj
7D
-1.5%
1Y
-33.8%
WITTED
€1.41
Witted Megacorp Oyj
7D
-1.7%
1Y
-6.0%
LOIHDE
€11.75
Loihde Oyj
7D
-1.3%
1Y
-1.7%
ADMCM
€43.10
Admicom Oyj
7D
-0.2%
1Y
-8.3%
SSH1V
€3.15
SSH Communications Security Oyj
7D
6.1%
1Y
191.7%
VAIAS
€44.05
Vaisala Oyj
7D
0.7%
1Y
-10.8%

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