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Finnish (OMX) Tech Sector Analysis

UpdatedApr 19, 2026
DataAggregated Company Financials
Companies30
  • 7D7.2%
  • 3M41.4%
  • 1Y69.7%
  • YTD45.1%

Over the last 7 days, the Tech industry has risen 7.2%, driven by gains from Nokia Oyj of 7.6%. This means that the industry has gained 70% over the past year. 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?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 19 Apr 2026€57.6b€25.5b€884.3m23.6x65.1x2.3x
Tue, 17 Mar 2026€49.0b€25.5b€882.6m23.4x55.5x1.9x
Thu, 12 Feb 2026€42.5b€26.3b€696.5m24.9x61x1.6x
Sat, 10 Jan 2026€40.7b€26.3b€905.7m25.7x44.9x1.5x
Mon, 08 Dec 2025€37.9b€26.3b€905.7m24.3x41.8x1.4x
Wed, 05 Nov 2025€41.0b€26.3b€912.0m24.2x44.9x1.6x
Fri, 03 Oct 2025€31.1b€25.7b€959.1m24.7x32.4x1.2x
Sun, 31 Aug 2025€28.5b€25.7b€960.1m24.8x29.7x1.1x
Tue, 29 Jul 2025€28.8b€25.7b€981.7m27.2x29.3x1.1x
Thu, 26 Jun 2025€32.8b€25.7b€1.4b25.5x24x1.3x
Sat, 24 May 2025€34.0b€25.7b€1.4b24.9x24.9x1.3x
Mon, 21 Apr 2025€33.2b€25.8b€1.9b24.1x17.7x1.3x
Wed, 19 Mar 2025€36.8b€25.8b€1.9b25.7x19.6x1.4x
Fri, 14 Feb 2025€35.5b€25.8b€2.1b20.5x17.1x1.4x
Sun, 12 Jan 2025€32.6b€26.4b€1.3b26x25.9x1.2x
Tue, 10 Dec 2024€31.7b€26.4b€1.3b24.9x25.2x1.2x
Thu, 07 Nov 2024€31.9b€26.4b€1.3b25.5x25.4x1.2x
Sat, 05 Oct 2024€31.3b€26.8b€1.3b24x24.8x1.2x
Mon, 02 Sep 2024€31.6b€26.8b€1.3b23.8x25.1x1.2x
Wed, 31 Jul 2024€29.5b€26.9b€1.3b21.4x23.5x1.1x
Fri, 28 Jun 2024€28.7b€27.8b€1.1b22.1x25.1x1x
Sun, 26 May 2024€29.2b€27.8b€1.1b23.2x25.6x1.1x
Tue, 23 Apr 2024€26.8b€27.8b€1.2b20.3x23.1x1x
Thu, 21 Mar 2024€26.7b€29.0b€1.0b18x26.5x0.9x
Sat, 17 Feb 2024€27.5b€29.1b€1.0b21.5x27.1x0.9x
Mon, 15 Jan 2024€27.4b€31.1b€4.2b17.1x6.5x0.9x
Wed, 13 Dec 2023€25.9b€31.1b€4.2b16.2x6.1x0.8x
Fri, 10 Nov 2023€27.1b€31.1b€4.2b14.8x6.4x0.9x
Sun, 08 Oct 2023€27.7b€32.4b€4.5b16.2x6.1x0.9x
Tue, 05 Sep 2023€30.4b€32.3b€4.5b17x6.7x0.9x
Thu, 03 Aug 2023€30.2b€32.3b€4.5b22.7x6.7x0.9x
Sat, 01 Jul 2023€32.4b€32.4b€4.7b23.9x6.9x1x
Mon, 29 May 2023€32.8b€32.4b€4.7b25.7x7x1x
Wed, 26 Apr 2023€32.7b€32.3b€4.7b26.6x7x1x
Price to Earnings Ratio

7x


Total Market Cap: €32.7bTotal Earnings: €4.7bTotal Revenue: €32.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 24.1x202420252026
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 65.1x which is higher than its 3-year average PE of 24.1x.
  • 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 7.6% 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 Market1.32%
Tech7.23%
Communications7.60%
Software6.50%
Electronic Equipment and Components5.91%
IT2.84%
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 22.0x.
    • 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 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€8.657.6%
+€3.4b		91.2%PE77x
VAIAS Vaisala Oyj€50.106.0%
+€103.4m		14.3%PE30.4x
QTCOM Qt Group Oyj€21.8817.6%
+€83.3m		-68.2%PE17.5x
TIETO Tieto Oyj€18.693.0%
+€59.8m		18.7%PE84.7x
BITTI Bittium Oyj€39.053.9%
+€51.5m		395.6%PE65x

Latest News

QTCOM
€21.88
Qt Group Oyj
7D
17.6%
1Y
-68.2%
CANATU
€8.10
Canatu Oyj
7D
9.8%
1Y
-22.9%
BITTI
€39.05
Bittium Oyj
7D
3.9%
1Y
395.6%
TIETO
€18.69
Tieto Oyj
7D
3.0%
1Y
18.7%

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
€8.65
Nokia Oyj
7D
7.6%
1Y
91.2%

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.
ICP1V
€10.72
Incap Oyj
7D
7.2%
1Y
1.3%

ICP1V: Steady Assumptions Will Support Faster Output And Higher Future Multiple

Analysts have kept Incap Oyj's price target broadly unchanged at €13.00, reflecting only minor tweaks to their models around discount rate assumptions and long term revenue growth and profit margin inputs. Valuation Changes Fair Value: Held steady at €13.0 per share, with no change to the central valuation estimate.
LEADD
€3.90
LeadDesk Oyj
7D
-2.3%
1Y
-36.9%

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

Analysts keep the fair value estimate for LeadDesk Oyj steady at €6.80, indicating only small model adjustments in the discount rate and long term profit and P/E assumptions rather than any shift in their core view of the shares. Valuation Changes Fair Value: €6.80 remains unchanged, indicating no revision to the headline valuation outcome.
SIILI
€3.48
Siili Solutions Oyj
7D
-1.1%
1Y
-40.8%
SCANFL
€12.62
Scanfil Oyj
7D
6.1%
1Y
47.1%
TAMTRON
€5.35
Tamtron Group Oyj
7D
-2.7%
1Y
4.9%
VINCIT
€1.16
Vincit Oyj
7D
-3.8%
1Y
-35.1%
VAIAS
€50.10
Vaisala Oyj
7D
6.0%
1Y
14.3%
DIGIA
€5.70
Digia Oyj
7D
-0.7%
1Y
-12.3%
TLT1V
€3.43
Teleste Oyj
7D
-2.0%
1Y
28.0%
ACG1V
€4.73
Aspocomp Group Oyj
7D
-2.1%
1Y
-9.0%
WITTED
€1.36
Witted Megacorp Oyj
7D
-0.7%
1Y
5.0%