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Finnish (OMX) Tech Sector Analysis

UpdatedMay 04, 2026
DataAggregated Company Financials
Companies30
  • 7D15.7%
  • 3M69.0%
  • 1Y105.9%
  • YTD71.8%

The Tech industry is up 16% in the last week, with Nokia Oyj up 14%. In the same time, Bittium Oyj was down 7.3%. In the last 12 months, the industry was up 106%. 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, 05 May 2026€68.2b€25.6b€1.1b22.6x63.1x2.7x
Thu, 02 Apr 2026€48.8b€25.5b€884.0m23.7x55.2x1.9x
Sat, 28 Feb 2026€45.0b€25.4b€882.5m27.2x51x1.8x
Mon, 26 Jan 2026€41.5b€26.3b€906.2m25.2x45.8x1.6x
Wed, 24 Dec 2025€39.7b€26.3b€905.7m23.9x43.9x1.5x
Fri, 21 Nov 2025€36.7b€26.3b€912.7m24.3x40.2x1.4x
Sun, 19 Oct 2025€34.9b€25.7b€959.1m25.2x36.4x1.4x
Tue, 16 Sep 2025€29.4b€25.7b€959.1m24x30.6x1.1x
Thu, 14 Aug 2025€28.0b€25.7b€970.0m24.5x28.9x1.1x
Sat, 12 Jul 2025€32.8b€25.7b€1.4b26.6x24x1.3x
Mon, 09 Jun 2025€34.5b€25.7b€1.4b25.8x25.3x1.3x
Wed, 07 May 2025€32.5b€25.7b€1.4b24.4x23.8x1.3x
Fri, 04 Apr 2025€33.7b€25.8b€1.9b23.6x18x1.3x
Sun, 02 Mar 2025€34.8b€25.8b€1.9b27.2x18.5x1.3x
Tue, 28 Jan 2025€32.7b€26.4b€1.3b25.5x26x1.2x
Thu, 26 Dec 2024€31.5b€26.4b€1.3b25.1x25.1x1.2x
Sat, 23 Nov 2024€30.2b€26.4b€1.3b24.4x24x1.1x
Mon, 21 Oct 2024€32.7b€26.4b€1.3b24x25.9x1.2x
Wed, 18 Sep 2024€30.4b€26.8b€1.3b23.2x24.1x1.1x
Fri, 16 Aug 2024€29.9b€26.8b€1.3b22.3x23.7x1.1x
Sun, 14 Jul 2024€29.5b€27.8b€1.1b23.2x25.8x1.1x
Tue, 11 Jun 2024€29.5b€27.8b€1.1b23.4x25.8x1.1x
Thu, 09 May 2024€28.2b€27.8b€1.1b22.2x24.7x1x
Sat, 06 Apr 2024€26.8b€29.0b€1.0b19.8x26.5x0.9x
Mon, 04 Mar 2024€27.4b€29.0b€1.0b19.5x27.3x0.9x
Wed, 31 Jan 2024€28.5b€29.3b€1.0b19.6x28x1x
Fri, 29 Dec 2023€26.6b€31.1b€4.2b16.9x6.3x0.9x
Sun, 26 Nov 2023€27.2b€31.1b€4.2b16.5x6.4x0.9x
Tue, 24 Oct 2023€25.1b€31.1b€4.2b15.5x5.9x0.8x
Thu, 21 Sep 2023€29.8b€32.3b€4.5b17.8x6.6x0.9x
Sat, 19 Aug 2023€29.0b€32.3b€4.5b19.5x6.4x0.9x
Mon, 17 Jul 2023€30.4b€32.4b€4.7b23.8x6.5x0.9x
Wed, 14 Jun 2023€33.1b€32.4b€4.7b24.3x7.1x1x
Fri, 12 May 2023€32.4b€32.4b€4.7b26.1x6.9x1x
Price to Earnings Ratio

6.9x


Total Market Cap: €32.4bTotal Earnings: €4.7bTotal Revenue: €32.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 24.9x202420252026
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 63.1x which is higher than its 3-year average PE of 24.9x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.7x.
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 Market1.99%
Tech15.68%
Communications18.52%
IT2.14%
Tech Hardware0%0
Semiconductors0%0
Electronic Equipment and Components-0.27%
Software-4.45%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 23.0x.
    • Analysts are expecting annual earnings growth of 24.5%, 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 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€11.3922.8%
+€11.9b		157.7%PE82.5x
TIETO Tieto Oyj€19.777.4%
+€156.6m		23.7%PE30.8x
VAIAS Vaisala Oyj€50.002.5%
+€43.5m		7.8%PE29.5x
FSECURE F-Secure Oyj€1.867.3%
+€22.0m		-4.2%PE14.5x
QTCOM Qt Group Oyj€19.443.3%
+€16.0m		-66.5%PE15.5x

Latest News

NOKIA
€11.39
Nokia Oyj
7D
22.8%
1Y
157.7%
TEM1V
€6.00
Tecnotree Oyj
7D
3.8%
1Y
71.9%
LEMON
€4.99
Lemonsoft Oyj
7D
5.7%
1Y
-18.7%
GOFORE
€11.52
Gofore Oyj
7D
-9.4%
1Y
-25.2%
ICP1V
€9.46
Incap Oyj
7D
-10.4%
1Y
-2.7%

ICP1V: Stable Assumptions Will Support Higher Future Margin And Earnings Multiple

Analysts have slightly adjusted their price target on Incap Oyj to €13.00. This reflects updated assumptions around discount rate, revenue growth, profit margin and future P/E that remain broadly in line with prior expectations.
BITTI
€34.10
Bittium Oyj
7D
-0.3%
1Y
397.8%
DIGIA
€5.66
Digia Oyj
7D
-3.7%
1Y
-11.6%
TIETO
€19.77
Tieto Oyj
7D
7.4%
1Y
23.7%

TIETO: Share Buybacks And Delisting Will Support Higher Future Returns

Analysts are keeping their €24.00 price target on Tieto Oyj unchanged, citing a small adjustment to the discount rate and revenue growth outlook, alongside a slightly higher profit margin assumption and a lower future P/E multiple as offsetting factors. What's in the News Tietoevry Oyj changed its name to Tieto Oyj on March 30, 2026, following shareholder approvals to amend the Articles of Association (Key Developments).
SSH1V
€2.37
SSH Communications Security Oyj
7D
8.5%
1Y
120.5%
LOIHDE
€13.05
Loihde Oyj
7D
-13.6%
1Y
5.2%
SIILI
€2.87
Siili Solutions Oyj
7D
-19.4%
1Y
-54.0%
WITTED
€1.55
Witted Megacorp Oyj
7D
-6.4%
1Y
11.2%
VAIAS
€50.00
Vaisala Oyj
7D
2.5%
1Y
7.8%
QTCOM
€19.44
Qt Group Oyj
7D
3.3%
1Y
-66.5%

QTCOM: Future Margin Discipline Will Support Upside Despite Recent Downgrade

Analysts have trimmed their fair value estimate for Qt Group Oyj from €29.25 to €27.00, citing updated assumptions for growth, profitability and P/E, as well as a more cautious stance reflected in recent research. Analyst Commentary Recent research has become more cautious on Qt Group Oyj, with at least one downgrade reinforcing a more conservative stance on valuation and execution.
FSECURE
€1.86
F-Secure Oyj
7D
7.3%
1Y
-4.2%
QPR1V
€0.52
QPR Software Oyj
7D
-11.5%
1Y
-43.6%