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Finnish (OMX) Tech Sector Analysis

UpdatedApr 22, 2026
DataAggregated Company Financials
Companies30
  • 7D1.1%
  • 3M46.5%
  • 1Y70.0%
  • YTD47.3%

In the last week, the Tech industry is up 3.4%, with Nokia Oyj up 3.7%. In the same time, Bittium Oyj was down 7.3%. In the last 12 months, the industry was up 74%. 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
Wed, 22 Apr 2026€58.5b€25.5b€884.3m22.6x66.1x2.3x
Fri, 20 Mar 2026€48.4b€25.5b€883.4m23.5x54.7x1.9x
Sun, 15 Feb 2026€41.7b€25.4b€853.5m25.2x48.9x1.6x
Tue, 13 Jan 2026€40.5b€26.3b€905.7m24.7x44.8x1.5x
Thu, 11 Dec 2025€38.3b€26.3b€905.7m24.8x42.3x1.5x
Sat, 08 Nov 2025€40.3b€26.3b€912.7m24.4x44.2x1.5x
Mon, 06 Oct 2025€31.7b€25.7b€959.1m25.3x33.1x1.2x
Wed, 03 Sep 2025€28.2b€25.7b€960.1m24.3x29.4x1.1x
Fri, 01 Aug 2025€28.3b€25.7b€981.7m27.1x28.9x1.1x
Sun, 29 Jun 2025€32.6b€25.7b€1.4b25.7x23.9x1.3x
Tue, 27 May 2025€34.4b€25.7b€1.4b25.2x25.2x1.3x
Thu, 24 Apr 2025€34.3b€25.8b€1.9b24.5x18.3x1.3x
Sat, 22 Mar 2025€36.1b€25.8b€1.9b25.5x19.2x1.4x
Mon, 17 Feb 2025€35.3b€25.8b€1.9b20.8x19x1.4x
Wed, 15 Jan 2025€32.4b€26.4b€1.3b25.9x25.8x1.2x
Fri, 13 Dec 2024€31.7b€26.4b€1.3b25x25.2x1.2x
Sun, 10 Nov 2024€31.6b€26.4b€1.3b25x25.2x1.2x
Tue, 08 Oct 2024€31.1b€26.8b€1.3b23.7x24.6x1.2x
Thu, 05 Sep 2024€31.2b€26.8b€1.3b23.5x24.7x1.2x
Sat, 03 Aug 2024€28.6b€26.9b€1.3b20.9x22.8x1.1x
Mon, 01 Jul 2024€28.8b€27.8b€1.1b22.9x25.2x1x
Wed, 29 May 2024€29.2b€27.8b€1.1b23x25.6x1.1x
Fri, 26 Apr 2024€27.1b€27.8b€1.2b20.8x23.5x1x
Sun, 24 Mar 2024€27.0b€29.0b€1.0b18.6x26.8x0.9x
Tue, 20 Feb 2024€27.4b€29.1b€1.0b22.8x26.9x0.9x
Thu, 18 Jan 2024€27.0b€31.1b€4.2b16.7x6.4x0.9x
Sat, 16 Dec 2023€26.2b€31.1b€4.2b16.7x6.2x0.8x
Mon, 13 Nov 2023€26.9b€31.1b€4.2b16.4x6.4x0.9x
Wed, 11 Oct 2023€27.9b€32.4b€4.5b16.5x6.2x0.9x
Fri, 08 Sep 2023€30.6b€32.3b€4.5b17.8x6.8x0.9x
Sun, 06 Aug 2023€29.8b€32.3b€4.5b21.1x6.6x0.9x
Tue, 04 Jul 2023€32.7b€32.4b€4.7b24.5x7x1x
Thu, 01 Jun 2023€32.6b€32.4b€4.7b24.8x7x1x
Sat, 29 Apr 2023€33.1b€32.4b€4.7b26.4x7.1x1x
Price to Earnings Ratio

7.1x


Total Market Cap: €33.1bTotal Earnings: €4.7bTotal Revenue: €32.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 24.3x202420252026
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 66.7x which is higher than its 3-year average PE of 24.2x.
  • The 3-year average PS ratio of 1.2x is lower than the industry's current PS ratio of 2.3x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 43% per year over the last three years,
  • Revenues have also declined 7.7% 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-0.72%
Tech1.06%
Electronic Equipment and Components3.24%
IT1.06%
Communications1.05%
Tech Hardware0%0
Semiconductors0%0
Software-1.06%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 22.2x.
    • 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, although it looks like investor sentiment has improved given that it's trading above 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 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€8.831.1%
+€515.6m		91.7%PE78.7x
SCANFL Scanfil Oyj€12.705.8%
+€45.9m		48.2%PE20.4x
QTCOM Qt Group Oyj€20.948.7%
+€42.4m		-69.5%PE16.7x
VAIAS Vaisala Oyj€49.052.2%
+€38.1m		13.0%PE29.8x
TIETO Tieto Oyj€18.971.7%
+€33.0m		20.4%PE86x

Latest News

ICP1V
€10.58
Incap Oyj
7D
2.7%
1Y
-0.8%
QTCOM
€20.94
Qt Group Oyj
7D
8.7%
1Y
-69.5%
BITTI
€36.85
Bittium Oyj
7D
-7.6%
1Y
373.0%

BITTI: NATO Supply Role And Special Dividend Will Not Sustain Elevated P/E

Analysts have kept their price target on Bittium Oyj broadly steady, with only a marginal adjustment implied by their updated inputs as they refine assumptions around the discount rate, revenue growth and future P/E outlook. What's in the News Bittium and Telia have implemented a hybrid network for the Finnish Defence Forces that links Bittium’s tactical communications with Telia’s 5G network.
SCANFL
€12.70
Scanfil Oyj
7D
5.8%
1Y
48.2%

SCANFL: 2026 Turnover Guidance Will Highlight Overstretched Payout And Earnings Multiple

Analysts have trimmed their price target on Scanfil Oyj slightly from €11.30 to €11.18, reflecting updated views on discount rates, revenue growth assumptions and profit margins, while keeping the longer term P/E outlook broadly similar. What's in the News Scanfil Oyj has proposed a dividend of €0.25 per share for the January to December 2025 financial year, compared with €0.24 per share previously, signaling an updated payout plan for shareholders (Key Developments).
GOFORE
€13.26
Gofore Oyj
7D
-3.9%
1Y
-24.9%

GOFORE: Espoo ICT Contract And Dividend Will Support Steady Outlook

Analysts have kept their €15.25 price target for Gofore Oyj unchanged, reflecting only slight technical adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions, rather than a shift in their core view. What's in the News Gofore Lead Oy, together with Nostrum IT Oy, has been selected as the priority supplier for the City of Espoo's ICT consulting expert services framework agreement, with an estimated total procurement value of approximately €44 million over a seven year period and no minimum purchase obligation for the customer (Key Developments).
TIETO
€18.97
Tieto Oyj
7D
1.7%
1Y
20.4%

TIETO: Share Buybacks And Delisting Plan Will Support Stronger Future Returns

Analysts have lifted their fair value estimate for Tieto Oyj to €24.0 from €21.0, pointing to updated assumptions for revenue growth, profit margins and future P/E levels as the key drivers behind the higher price target. What's in the News On March 30, 2026, TietoEVRY Oyj formally changed its name to Tieto Oyj, following earlier proposals to update the company name and domicile in the Articles of Association.
NOKIA
€8.83
Nokia Oyj
7D
1.1%
1Y
91.7%

NOKIA: AI RAN And Cloud Alliances Will Drive Future Earnings Rebound

Analysts have lifted the fair value estimate for Nokia Oyj from €8.80 to about €9.84, reflecting updated expectations for slightly lower revenue growth, a modestly higher profit margin, and a higher future P/E multiple, informed by a mix of recent upgrades, downgrades, and price target increases from major banks and brokers. Analyst Commentary Recent Street research on Nokia shows a split tape, with both upgrades and downgrades, but the higher fair value estimate reflects that the more optimistic voices are assigning greater weight to improved execution and potential re rating in the sector.
DETEC
€9.76
Detection Technology Oyj
7D
5.6%
1Y
-24.9%

DETEC: Dividend Reset And 2026 Growth Guidance Will Support Future Upside

Analysts have kept the price target for Detection Technology Oyj steady at €14.70, indicating relatively unchanged assumptions on discount rate, revenue growth, profit margin and future P/E in their updated models. What's in the News A board meeting is scheduled for 26 March 2026 to consider the Shareholders’ Nomination Board recommendation.
FSECURE
€1.74
F-Secure Oyj
7D
3.5%
1Y
-5.0%
TAMTRON
€5.10
Tamtron Group Oyj
7D
-5.6%
1Y
3.4%
SOLTEQ
€0.33
Solteq Oyj
7D
-1.8%
1Y
-50.2%
VINCIT
€1.17
Vincit Oyj
7D
-2.1%
1Y
-33.1%
VAIAS
€49.05
Vaisala Oyj
7D
2.2%
1Y
13.0%
DIGIA
€5.70
Digia Oyj
7D
-0.7%
1Y
-13.1%
TLT1V
€3.38
Teleste Oyj
7D
-1.5%
1Y
21.6%
WITTED
€1.34
Witted Megacorp Oyj
7D
-1.5%
1Y
0.8%