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Finnish (OMX) Tech Sector Analysis

UpdatedApr 06, 2026
DataAggregated Company Financials
Companies30
  • 7D6.7%
  • 3M25.0%
  • 1Y49.4%
  • YTD25.8%

The Tech industry is up 6.7% in the last week, with Nokia Oyj up 5.9%. In the last 12 months, the industry was up 49%. Earnings are forecast to grow by 24% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 07 Apr 2026€50.0b€25.5b€884.0m24.2x56.5x2x
Thu, 05 Mar 2026€48.0b€25.5b€877.0m26.8x54.7x1.9x
Sat, 31 Jan 2026€39.3b€26.3b€696.0m24.2x56.5x1.5x
Mon, 29 Dec 2025€39.7b€26.3b€905.7m23.9x43.9x1.5x
Wed, 26 Nov 2025€37.7b€26.3b€912.7m24.6x41.4x1.4x
Fri, 24 Oct 2025€37.2b€25.7b€974.0m25.7x38.2x1.4x
Sun, 21 Sep 2025€30.4b€25.7b€959.1m24.8x31.7x1.2x
Tue, 19 Aug 2025€28.1b€25.7b€966.4m24.9x29.1x1.1x
Thu, 17 Jul 2025€31.5b€25.7b€1.4b26.4x23.1x1.2x
Sat, 14 Jun 2025€33.0b€25.7b€1.4b25.3x24.2x1.3x
Mon, 12 May 2025€32.7b€25.7b€1.4b24.9x24x1.3x
Wed, 09 Apr 2025€32.2b€25.8b€1.9b22.8x17.2x1.2x
Fri, 07 Mar 2025€36.0b€25.8b€1.9b26.1x19.1x1.4x
Sun, 02 Feb 2025€33.7b€25.8b€2.0b23.3x16.5x1.3x
Tue, 31 Dec 2024€31.7b€26.4b€1.3b25.2x25.2x1.2x
Thu, 28 Nov 2024€29.4b€26.4b€1.3b24.6x23.4x1.1x
Sat, 26 Oct 2024€33.3b€26.4b€1.3b23.7x26.4x1.3x
Mon, 23 Sep 2024€30.3b€26.8b€1.3b23.7x24x1.1x
Wed, 21 Aug 2024€30.0b€26.8b€1.3b22.4x23.8x1.1x
Fri, 19 Jul 2024€28.0b€27.8b€1.1b22.9x24.4x1x
Sun, 16 Jun 2024€28.0b€27.8b€1.1b22.3x24.5x1x
Tue, 14 May 2024€28.6b€27.8b€1.1b22.7x25.1x1x
Thu, 11 Apr 2024€26.7b€29.0b€1.0b20.2x26.4x0.9x
Sat, 09 Mar 2024€27.6b€29.0b€1.0b19.4x27.4x1x
Mon, 05 Feb 2024€27.9b€29.3b€1.0b19.3x27.4x1x
Wed, 03 Jan 2024€27.0b€31.1b€4.2b17.5x6.4x0.9x
Fri, 01 Dec 2023€27.0b€31.1b€4.2b16.6x6.4x0.9x
Sun, 29 Oct 2023€25.6b€31.1b€4.2b13.7x6.1x0.8x
Tue, 26 Sep 2023€28.8b€32.3b€4.5b17.9x6.4x0.9x
Thu, 24 Aug 2023€29.2b€32.3b€4.5b19.3x6.5x0.9x
Sat, 22 Jul 2023€30.1b€32.2b€4.5b22x6.7x0.9x
Mon, 19 Jun 2023€33.6b€32.4b€4.7b23.8x7.2x1x
Wed, 17 May 2023€32.3b€32.4b€4.7b26x6.9x1x
Fri, 14 Apr 2023€37.1b€31.7b€4.5b27x8.1x1.2x
Price to Earnings Ratio

8.1x


Total Market Cap: €37.1bTotal Earnings: €4.5bTotal Revenue: €31.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 23.5x202420252026
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 56.5x which is higher than its 3-year average PE of 23.5x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.0x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 42% per year over the last three years,
  • Revenues have also declined 7.1% 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 Market3.86%
Tech6.72%
Software7.49%
Communications7.05%
IT6.28%
Electronic Equipment and Components2.51%
Tech Hardware0%0
Semiconductors0%0
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 21.3x.
    • Analysts are expecting annual earnings growth of 23.6%, which is higher than its past year's earnings decline of 63.1% per year.
  • Investors are most pessimistic about the Electronic Equipment and Components industry, which is trading close to its 3-year average of 22.1x.
Forecasted Growth
  • Analysts are most optimistic on the IT industry, expecting annual earnings growth of 35% over the next 5 years.
  • This is better than its past earnings decline of 64% 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?

CompanyLast Price7D1YValuation
NOKIA Nokia Oyj€7.355.9%
+€2.3b		73.1%PE65.5x
BITTI Bittium Oyj€39.0511.9%
+€147.4m		448.5%PE65.1x
TIETO Tieto Oyj€19.173.6%
+€75.0m		26.5%PE87.2x
VAIAS Vaisala Oyj€45.252.4%
+€38.1m		10.1%PE27.5x
ADMCM Admicom Oyj€30.3510.0%
+€13.6m		-33.7%PE28.3x

Latest News

SCANFL
€11.62
Scanfil Oyj
7D
-3.0%
1Y
41.4%

SCANFL: Fair View Will Emphasize 2026 Turnover Range And Dividend Outlook

Analysts have kept their price target for Scanfil Oyj steady at €11.30, reflecting only minor model adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions rather than a change in overall view. What's in the News Scanfil Oyj has proposed a dividend of €0.25 per share for the financial period January to December 2025, compared with €0.24 per share previously.
SIILI
€3.47
Siili Solutions Oyj
7D
-0.9%
1Y
-34.5%
BITTI
€39.05
Bittium Oyj
7D
11.9%
1Y
448.5%

BITTI: Defence Contracts And NATO Deal Will Support But Not Justify Elevated P/E

Analysts have lifted their price target for Bittium Oyj by €2.07 to €33.80. This reflects updated views on fair value, discount rate assumptions, revenue growth, profit margin expectations and future P/E levels.
GOFORE
€13.96
Gofore Oyj
7D
6.1%
1Y
-22.4%

GOFORE: Espoo ICT Framework And Dividend Will Support Steady Outlook

Analysts have maintained their fair value estimate for Gofore Oyj at €15.25. They have made only modest changes to their assumptions, such as a slightly lower discount rate and small adjustments to revenue growth and future P/E, to refine their price target rationale.
ADMCM
€30.35
Admicom Oyj
7D
10.0%
1Y
-33.7%
TIETO
€19.17
Tieto Oyj
7D
3.6%
1Y
26.5%

TIETO: Delisting Plans And Flat 2026 Outlook Will Pressure Future Returns

Analysts have adjusted their price target for Tieto Oyj from €16.70 to €15.80. This change reflects updated assumptions for revenue growth, profit margin, discount rate and future P/E levels.
TAMTRON
€5.26
Tamtron Group Oyj
7D
-2.6%
1Y
15.6%
NOKIA
€7.35
Nokia Oyj
7D
5.9%
1Y
73.1%

NOKIA: AI And Cloud Alliances Will Support Future Earnings Rebound Narrative

Analysts have lifted the fair value estimate for Nokia Oyj from €7.20 to €8.80, reflecting updated assumptions for slightly higher revenue growth, profit margins and future P/E, alongside a series of recent target hikes and mixed rating changes across the Street. Analyst Commentary Recent Street research on Nokia Oyj has been mixed, with several downgrades on ratings but also a clear cluster of higher fair value and price targets from bullish analysts.
LEMON
€4.85
Lemonsoft Oyj
7D
-0.6%
1Y
-5.3%

We Think That There Are Issues Underlying Lemonsoft Oyj's (HEL:LEMON) Earnings

Mar 28
We Think That There Are Issues Underlying Lemonsoft Oyj's (HEL:LEMON) Earnings
FSECURE
€1.65
F-Secure Oyj
7D
4.4%
1Y
0.5%
QTCOM
€19.24
Qt Group Oyj
7D
1.8%
1Y
-71.1%

QTCOM: Execution On Long Term Roadmap Will Support Recalibrated Upside

Analysts have trimmed their 12 month price target on Qt Group Oyj by €0.01 to €29.25, citing a slightly higher discount rate and modestly adjusted long term assumptions following recent bearish Street research, including a downgrade from Danske Bank. Analyst Commentary Analysts are responding to the recent downgrade and slightly higher discount rate by sharpening their focus on both upside potential and execution risks around Qt Group Oyj.
VAIAS
€45.25
Vaisala Oyj
7D
2.4%
1Y
10.1%
LEADD
€4.10
LeadDesk Oyj
7D
-4.7%
1Y
-29.3%

LEADD: Higher Future P/E Will Support Upside With Stable Profitability

Analysts have maintained their €6.80 price target for LeadDesk Oyj, citing slightly updated assumptions around discount rates, revenue growth, profit margins, and a higher future P/E of 174.35x as the key factors behind the unchanged outlook. Valuation Changes Fair Value: €6.80 remains unchanged, indicating no adjustment to the overall equity value estimate.
DIGIGR
€1.65
Digitalist Group
7D
-5.2%
1Y
-83.1%
QPR1V
€0.56
QPR Software Oyj
7D
-8.2%
1Y
-40.4%