Narrative Update • May 09
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Finnish (OMX) Tech Sector Analysis
UpdatedMay 20, 2026
DataAggregated Company Financials
Companies30
- 7D4.6%
- 3M68.8%
- 1Y113.0%
- YTD87.0%
Over the last 7 days, the Tech industry has risen 4.6%, driven by gains from Nokia Oyj of 4.5%. This takes the industry's 12 month performance to a gain of 113%. Looking forward, earnings are forecast to grow by 24% annually.
Sector Valuation and Performance
Has the Finnish Tech Sector valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Wed, 20 May 2026 | €74.3b | €25.6b | €1.1b | 23x | 69.2x | 2.9x |
| Fri, 17 Apr 2026 | €57.2b | €25.5b | €884.3m | 23x | 64.6x | 2.2x |
| Sun, 15 Mar 2026 | €49.0b | €25.5b | €882.6m | 23.4x | 55.5x | 1.9x |
| Tue, 10 Feb 2026 | €42.2b | €26.3b | €696.5m | 24.8x | 60.6x | 1.6x |
| Thu, 08 Jan 2026 | €41.5b | €26.3b | €905.7m | 25.6x | 45.8x | 1.6x |
| Sat, 06 Dec 2025 | €37.9b | €26.3b | €912.7m | 24.3x | 41.5x | 1.4x |
| Mon, 03 Nov 2025 | €40.6b | €26.3b | €912.1m | 24.7x | 44.5x | 1.5x |
| Wed, 01 Oct 2025 | €30.8b | €25.7b | €959.1m | 24.3x | 32.1x | 1.2x |
| Fri, 29 Aug 2025 | €28.5b | €25.7b | €964.5m | 24.3x | 29.6x | 1.1x |
| Sun, 27 Jul 2025 | €29.0b | €25.7b | €981.7m | 26.9x | 29.6x | 1.1x |
| Tue, 24 Jun 2025 | €32.6b | €25.7b | €1.4b | 25.7x | 23.9x | 1.3x |
| Thu, 22 May 2025 | €34.3b | €25.7b | €1.4b | 25.9x | 25.1x | 1.3x |
| Sat, 19 Apr 2025 | €33.2b | €25.8b | €1.9b | 24.1x | 17.7x | 1.3x |
| Mon, 17 Mar 2025 | €36.0b | €25.8b | €1.9b | 25.3x | 19.2x | 1.4x |
| Wed, 12 Feb 2025 | €34.6b | €25.8b | €2.1b | 20.6x | 16.9x | 1.3x |
| Fri, 10 Jan 2025 | €32.7b | €26.4b | €1.3b | 26x | 26x | 1.2x |
| Sun, 08 Dec 2024 | €31.1b | €26.4b | €1.3b | 24.2x | 24.7x | 1.2x |
| Tue, 05 Nov 2024 | €32.1b | €26.4b | €1.3b | 25.7x | 25.6x | 1.2x |
| Thu, 03 Oct 2024 | €31.2b | €26.8b | €1.3b | 23.5x | 24.7x | 1.2x |
| Sat, 31 Aug 2024 | €31.6b | €26.8b | €1.3b | 23.8x | 25.1x | 1.2x |
| Mon, 29 Jul 2024 | €28.8b | €26.9b | €1.3b | 21.2x | 23x | 1.1x |
| Wed, 26 Jun 2024 | €28.8b | €27.8b | €1.1b | 22.1x | 25.2x | 1x |
| Fri, 24 May 2024 | €29.5b | €27.8b | €1.1b | 23.1x | 25.8x | 1.1x |
| Sun, 21 Apr 2024 | €26.8b | €27.8b | €1.2b | 20.3x | 23.1x | 1x |
| Tue, 19 Mar 2024 | €26.8b | €29.0b | €1.0b | 18.1x | 26.6x | 0.9x |
| Thu, 15 Feb 2024 | €26.8b | €29.1b | €1.0b | 20.7x | 25.9x | 0.9x |
| Sat, 13 Jan 2024 | €27.4b | €31.1b | €4.2b | 17.1x | 6.5x | 0.9x |
| Mon, 11 Dec 2023 | €25.8b | €31.1b | €4.2b | 16.3x | 6.1x | 0.8x |
| Wed, 08 Nov 2023 | €26.7b | €31.1b | €4.2b | 15x | 6.3x | 0.9x |
| Fri, 06 Oct 2023 | €27.9b | €32.4b | €4.5b | 16.3x | 6.2x | 0.9x |
| Sun, 03 Sep 2023 | €30.4b | €32.3b | €4.5b | 16.7x | 6.7x | 0.9x |
| Tue, 01 Aug 2023 | €30.3b | €32.3b | €4.5b | 22.8x | 6.7x | 0.9x |
| Thu, 29 Jun 2023 | €31.8b | €32.4b | €4.7b | 24.2x | 6.8x | 1x |
| Sat, 27 May 2023 | €32.8b | €32.4b | €4.7b | 25.7x | 7x | 1x |
Price to Earnings Ratio
7x
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 69.2x which is higher than its 3-year average PE of 25.8x.
- The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.9x.
Past Earnings Growth
- The earnings for companies in the Information Technology industry have declined 39% per year over the last three years,
- Revenues have also declined 7.6% 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 Market | 2.12% | |
| Tech | 4.55% | |
| Software | 11.41% | |
| IT | 4.58% | |
| Communications | 4.51% | |
| Electronic Equipment and Components | 0.033% | |
| Tech Hardware | 0% | 0 |
| Semiconductors | 0% | 0 |
Industry PE
- Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 24.1x.
- Analysts are expecting annual earnings growth of 24.8%, which is higher than its past year's earnings decline of 35.4% per year.
- Investors are most pessimistic about the Electronic Equipment and Components industry, although it looks like investor sentiment has improved given that it's trading above its 3-year average of 22.2x.
Forecasted Growth
- Analysts are most optimistic on the IT industry, expecting annual earnings growth of 26% over the next 5 years.
- This is better than its past earnings decline of 42% per year.
- In contrast, the Electronic Equipment and Components industry is expected to see its earnings grow by 14% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| QTCOM Qt Group Oyj | €26.70 | 29.2% +€153.4m | -55.5% | PE24.9x | |
| BITTI Bittium Oyj | €39.85 | 10.7% +€136.7m | 485.2% | PE66.3x | |
| TIETO Tieto Oyj | €20.34 | 5.4% +€120.2m | 27.0% | PE31.6x | |
| FSECURE F-Secure Oyj | €1.89 | 8.1% +€24.8m | -2.9% | PE16.6x | |
| GOFORE Gofore Oyj | €11.64 | 9.4% +€16.2m | -35.1% | PE23.5x |
