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Finnish (OMX) Tech Sector Analysis

UpdatedFeb 23, 2026
DataAggregated Company Financials
Companies29
  • 7D7.6%
  • 3M20.0%
  • 1Y21.7%
  • YTD12.8%

In the last week, the Tech industry is up 7.6%, with Nokia Oyj up 7.7%. In the same time, Bittium Oyj was down 11%. In the last 12 months, the industry was up 22%. Earnings are forecast to grow by 23% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Tue, 24 Feb 2026€44.8b€25.4b€890.8m25.2x50.3x1.8x
Thu, 22 Jan 2026€40.2b€26.3b€905.7m25.3x44.4x1.5x
Sat, 20 Dec 2025€39.3b€26.3b€905.7m24.3x43.4x1.5x
Mon, 17 Nov 2025€40.3b€26.3b€912.7m24.2x44.1x1.5x
Wed, 15 Oct 2025€33.8b€25.7b€959.1m24.9x35.2x1.3x
Fri, 12 Sep 2025€29.7b€25.7b€964.3m24.1x30.8x1.2x
Sun, 10 Aug 2025€27.8b€25.7b€970.8m24.2x28.7x1.1x
Tue, 08 Jul 2025€32.9b€25.7b€1.4b26.1x24.1x1.3x
Thu, 05 Jun 2025€34.4b€25.7b€1.4b25.9x25.2x1.3x
Sat, 03 May 2025€32.4b€25.7b€1.4b24.2x23.7x1.3x
Mon, 31 Mar 2025€35.4b€25.8b€1.9b24.8x18.8x1.4x
Wed, 26 Feb 2025€34.9b€25.8b€1.9b21.4x18.6x1.4x
Fri, 24 Jan 2025€33.6b€26.4b€1.3b26.5x26.7x1.3x
Sun, 22 Dec 2024€31.4b€26.4b€1.3b25x25x1.2x
Tue, 19 Nov 2024€31.3b€26.4b€1.3b24.9x24.9x1.2x
Thu, 17 Oct 2024€31.4b€26.7b€1.3b23.7x24.9x1.2x
Sat, 14 Sep 2024€30.2b€26.8b€1.3b23.1x24x1.1x
Mon, 12 Aug 2024€28.5b€26.9b€1.3b20.9x22.6x1.1x
Wed, 10 Jul 2024€28.9b€27.8b€1.1b23.1x25.2x1x
Fri, 07 Jun 2024€29.6b€27.8b€1.1b24.1x25.8x1.1x
Sun, 05 May 2024€27.6b€27.8b€1.2b22.6x24x1x
Tue, 02 Apr 2024€27.2b€29.0b€1.0b19.4x27x0.9x
Thu, 29 Feb 2024€27.4b€29.0b€1.0b20.1x27.2x0.9x
Sat, 27 Jan 2024€29.2b€29.3b€1.0b19.3x28.6x1x
Mon, 25 Dec 2023€26.8b€31.1b€4.2b16.7x6.3x0.9x
Wed, 22 Nov 2023€27.1b€31.1b€4.2b17x6.4x0.9x
Fri, 20 Oct 2023€25.4b€32.4b€4.5b16x5.6x0.8x
Sun, 17 Sep 2023€29.7b€32.3b€4.5b17.5x6.6x0.9x
Tue, 15 Aug 2023€29.5b€32.3b€4.5b22.1x6.5x0.9x
Thu, 13 Jul 2023€32.4b€32.4b€4.7b23.7x6.9x1x
Sat, 10 Jun 2023€32.5b€32.4b€4.7b24.2x6.9x1x
Mon, 08 May 2023€32.5b€32.4b€4.7b26.2x6.9x1x
Wed, 05 Apr 2023€36.7b€31.7b€4.5b27.1x8.1x1.2x
Fri, 03 Mar 2023€36.4b€31.6b€4.5b30.7x8x1.2x
Price to Earnings Ratio

8x


Total Market Cap: €36.4bTotal Earnings: €4.5bTotal Revenue: €31.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 21.8x202420252026
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 50.3x which is higher than its 3-year average PE of 21.7x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.8x.
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 6.9% 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 Market2.94%
Tech7.62%
Communications9.45%
Electronic Equipment and Components4.56%
IT2.03%
Tech Hardware0%0
Semiconductors0%0
Software-4.45%
Industry PE
  • Investors are most optimistic about the IT industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 35.4%, which is higher than its past year's earnings decline of 61.6% 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 62% 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€6.427.6%
+€2.5b		35.8%PE57.2x
VAIAS Vaisala Oyj€46.704.2%
+€68.9m		-4.1%PE28.3x
SCANFL Scanfil Oyj€11.605.3%
+€38.0m		37.8%PE18.6x
TEM1V Tecnotree Oyj€5.650%
€32.7m		37.6%PE19.8x
TIETO TietoEVRY Oyj€18.910.9%
+€16.3m		3.4%PE87.2x

Latest News

SCANFL
€11.60
Scanfil Oyj
7D
5.3%
1Y
37.8%
LEMON
€4.90
Lemonsoft Oyj
7D
-3.2%
1Y
-16.9%
BITTI
€28.40
Bittium Oyj
7D
-16.5%
1Y
345.1%

BITTI: Defence Contracts And Guidance Will Support But Not Fully Justify High P/E

Analysts have raised their price target for Bittium Oyj to €31.73 from €29.57, reflecting updated assumptions around discount rates, revenue growth, profit margins and future P/E expectations. What's in the News Bittium announced an annual dividend of €0.15 per share, with an ex date on April 23, 2026, a record date on April 24, 2026, and payment on May 4, 2026 (Key Developments).
TEM1V
€5.65
Tecnotree Oyj
7D
0%
1Y
37.6%
SSH1V
€2.47
SSH Communications Security Oyj
7D
-4.6%
1Y
107.6%

Quantum Safe Security And EU Data Sovereignty Will Support Stronger SSH Outlook

Catalysts About SSH Communications Security Oyj SSH Communications Security Oyj provides cybersecurity software focused on privileged access management, encryption and secure communications for enterprises and public sector customers. What are the underlying business or industry changes driving this perspective?
NOKIA
€6.42
Nokia Oyj
7D
7.6%
1Y
35.8%
GOFORE
€11.18
Gofore Oyj
7D
1.6%
1Y
-48.1%

GOFORE: New CFO Appointment Will Support Future Earnings Quality And Market Repricing

Analysts have adjusted their price target for Gofore Oyj from €18.50 to €15.75. This change reflects updated assumptions around revenue growth, profit margins, the discount rate and future P/E expectations.
TLT1V
€3.55
Teleste Oyj
7D
-4.6%
1Y
27.2%

Earnings Beat: Teleste Oyj Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Feb 18
Earnings Beat: Teleste Oyj Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
VAIAS
€46.70
Vaisala Oyj
7D
4.2%
1Y
-4.1%
TIETO
€18.91
TietoEVRY Oyj
7D
0.9%
1Y
3.4%

TIETO: Modest Outlook, Firmer Margins And Buybacks Will Support Fair Valuation

Analysts have lifted their price target on TietoEVRY Oyj by about €1.30 to roughly €19.47, citing updated assumptions for modest revenue growth, a slightly lower discount rate, firmer profit margins, and a reduced future P/E multiple. What's in the News TietoEVRY issued earnings guidance for 2026, expecting first quarter revenue growth to be in line with the fourth quarter of 2025, full year revenue growth for 2026 to be slightly negative in a range of 2% decline to flat, and profit margin guidance of 14.8% to 15.8%.
ADMCM
€32.65
Admicom Oyj
7D
-4.7%
1Y
-37.2%

Admicom Oyj (HEL:ADMCM) Stocks Pounded By 25% But Not Lagging Market On Growth Or Pricing

Feb 13
Admicom Oyj (HEL:ADMCM) Stocks Pounded By 25% But Not Lagging Market On Growth Or Pricing
CANATU
€9.50
Canatu Oyj
7D
-3.1%
1Y
-28.0%
DETEC
€11.30
Detection Technology Oyj
7D
1.3%
1Y
-28.5%

DETEC: India Facility Expansion Will Support Future Upside Despite Lower Dividend

Analysts have slightly reduced their price target on Detection Technology Oyj from €15.0 to €14.7, citing updated assumptions around discount rates, revenue growth, profit margins and future P/E levels. What's in the News Detection Technology Oyj announced a dividend of €0.30 per share for the January to December 2025 period, compared with €0.50 previously.
DIGIA
€6.08
Digia Oyj
7D
-2.3%
1Y
-15.3%

Digia Oyj (HEL:DIGIA) Will Pay A Larger Dividend Than Last Year At €0.19

Feb 10
Digia Oyj (HEL:DIGIA) Will Pay A Larger Dividend Than Last Year At €0.19
WITH
€1.72
WithSecure Oyj
7D
0.2%
1Y
102.4%
ICP1V
€9.45
Incap Oyj
7D
-2.8%
1Y
-23.5%