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Finnish (OMX) Tech Sector Analysis

UpdatedFeb 12, 2026
DataAggregated Company Financials
Companies29
  • 7D3.4%
  • 3M1.5%
  • 1Y16.8%
  • YTD7.1%

Nokia Oyj is up 0.6%, leading the way for the Tech industry, which has gained 3.4%. In the same time, Bittium Oyj was down 15%. In the last 12 months, the industry was up 17%. Looking forward, earnings are forecast to grow by 26% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 13 Feb 2026€42.5b€26.3b€696.5m24.9x61x1.6x
Sun, 11 Jan 2026€40.7b€26.3b€905.7m25.7x44.9x1.5x
Tue, 09 Dec 2025€38.1b€26.3b€905.7m24.8x42.1x1.5x
Thu, 06 Nov 2025€40.8b€26.3b€912.0m24.8x44.8x1.6x
Sat, 04 Oct 2025€31.2b€25.7b€959.1m25.2x32.6x1.2x
Mon, 01 Sep 2025€28.5b€25.7b€960.1m24.8x29.7x1.1x
Wed, 30 Jul 2025€27.3b€25.7b€981.7m25.8x27.8x1.1x
Fri, 27 Jun 2025€32.3b€25.7b€1.4b25.6x23.6x1.3x
Sun, 25 May 2025€34.0b€25.7b€1.4b24.9x24.9x1.3x
Tue, 22 Apr 2025€33.2b€25.8b€1.9b24.1x17.7x1.3x
Thu, 20 Mar 2025€36.5b€25.8b€1.9b25.7x19.4x1.4x
Sat, 15 Feb 2025€35.3b€25.8b€1.9b21.2x19x1.4x
Mon, 13 Jan 2025€32.6b€26.4b€1.3b26x25.9x1.2x
Wed, 11 Dec 2024€31.5b€26.4b€1.3b24.8x25.1x1.2x
Fri, 08 Nov 2024€31.8b€26.4b€1.3b25.2x25.3x1.2x
Sun, 06 Oct 2024€31.3b€26.8b€1.3b24x24.8x1.2x
Tue, 03 Sep 2024€31.7b€26.8b€1.3b23.6x25.1x1.2x
Thu, 01 Aug 2024€29.4b€26.9b€1.3b21.5x23.4x1.1x
Sat, 29 Jun 2024€28.8b€27.8b€1.1b22.9x25.2x1x
Mon, 27 May 2024€29.2b€27.8b€1.1b23.2x25.6x1.1x
Wed, 24 Apr 2024€27.5b€27.8b€1.2b20.5x23.7x1x
Fri, 22 Mar 2024€27.1b€29.0b€1.0b18.5x26.8x0.9x
Sun, 18 Feb 2024€27.5b€29.1b€1.0b22.7x27x0.9x
Tue, 16 Jan 2024€27.5b€31.1b€4.2b17x6.5x0.9x
Thu, 14 Dec 2023€25.6b€31.1b€4.2b16.3x6.1x0.8x
Sat, 11 Nov 2023€26.9b€31.1b€4.2b16.4x6.4x0.9x
Mon, 09 Oct 2023€27.7b€32.4b€4.5b16.2x6.1x0.9x
Wed, 06 Sep 2023€30.5b€32.3b€4.5b17.5x6.8x0.9x
Fri, 04 Aug 2023€29.6b€32.3b€4.5b21.9x6.6x0.9x
Sun, 02 Jul 2023€32.4b€32.4b€4.7b23.9x6.9x1x
Tue, 30 May 2023€32.7b€32.4b€4.7b25.6x7x1x
Thu, 27 Apr 2023€33.0b€32.2b€4.7b26.3x7.1x1x
Sat, 25 Mar 2023€35.3b€31.7b€4.5b25.7x7.8x1.1x
Mon, 20 Feb 2023€36.9b€31.7b€4.5b28.6x8.1x1.2x
Price to Earnings Ratio

8.1x


Total Market Cap: €36.9bTotal Earnings: €4.5bTotal Revenue: €31.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 21.4x202420252026
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 61.0x which is higher than its 3-year average PE of 21.3x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.6x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 46% per year over the last three years,
  • Revenues have also declined 6.0% 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 Market0.45%
Tech3.40%
Communications5.40%
Tech Hardware0%0
Semiconductors0%0
Electronic Equipment and Components-0.93%
IT-5.22%
Software-7.00%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 18.7x.
    • Analysts are expecting annual earnings growth of 22.7%, which is higher than its past year's earnings decline of 63.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the IT industry, expecting annual earnings growth of 70% over the next 5 years.
  • This is better than its past earnings decline of 60% per year.
  • In contrast, the Electronic Equipment and Components industry is expected to see its earnings grow by 16% 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€5.830.6%
+€194.5m		22.0%PE51.9x
TIETO TietoEVRY Oyj€19.018.7%
+€180.0m		-0.6%PS0.8x
VAIAS Vaisala Oyj€43.202.9%
+€43.5m		-20.7%PE24.9x
CANATU Canatu Oyj€9.5010.0%
+€29.9m		-24.0%PS29.5x
ICP1V Incap Oyj€9.602.7%
+€7.4m		-15.3%PE16.9x

Latest News

SSH1V
€2.64
SSH Communications Security Oyj
7D
-4.7%
1Y
140.0%
TIETO
€19.01
TietoEVRY Oyj
7D
8.7%
1Y
-0.6%
VAIAS
€43.20
Vaisala Oyj
7D
2.9%
1Y
-20.7%
CANATU
€9.50
Canatu Oyj
7D
10.0%
1Y
-24.0%
QTCOM
€24.98
Qt Group Oyj
7D
-2.0%
1Y
-72.1%

QTCOM: Safety And Testing Software Will Support Recalibrated Upside Potential

Analysts have trimmed their price target for Qt Group Oyj to €36.25 from €44.75, citing updated assumptions for revenue growth, profit margins, discount rate and future P/E, as reflected in recent, more cautious research commentary. Analyst Commentary Recent research has taken a more cautious stance on Qt Group Oyj, reflected in the lower price target and a downgrade in rating.
FSECURE
€1.63
F-Secure Oyj
7D
-2.9%
1Y
-3.4%
BITTI
€31.80
Bittium Oyj
7D
-14.7%
1Y
390.7%

BITTI: NATO And Defence Contracts Will Still Not Justify High P/E

Analysts have kept their fair value estimate for Bittium Oyj steady at €29.57, with only small technical adjustments to the discount rate, revenue growth, profit margin and future P/E assumptions shaping this narrative update. What's in the News Bittium entered a Basic Ordering Agreement with the NATO Communications and Information Agency, making the company a preferred supplier of secure mobile devices, software and accessories for NATO members and enabling faster procurement of its Commercial Off The Shelf solutions (Client Announcements).
SCANFL
€10.92
Scanfil Oyj
7D
-1.4%
1Y
33.2%

SCANFL: Slightly Softer Assumptions Will Still Support Fair Value Stability

Analysts have trimmed their price target for Scanfil Oyj by €0.25, reflecting slightly adjusted views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions. Valuation Changes Fair Value: Trimmed slightly from €10.73 to €10.48 per share, a reduction of €0.25.
LEADD
€6.12
LeadDesk Oyj
7D
-7.8%
1Y
-7.3%
NOKIA
€5.83
Nokia Oyj
7D
0.6%
1Y
22.0%

NOKIA: Telecom Capex And Execution Risks Will Constrain AI Networking Upside

Analysts have lifted their price expectations for Nokia Oyj, with our fair value estimate moving from €3.59 to €3.78 as a series of target increases and upgrades, alongside updated assumptions on discount rate, revenue growth, profit margins and future P/E, feed into a slightly higher valuation. Analyst Commentary Recent research on Nokia Oyj includes a cluster of upgrades and higher targets, balanced by at least one more cautious reset.
ADMCM
€35.05
Admicom Oyj
7D
-7.8%
1Y
-34.5%
WITH
€1.72
WithSecure Oyj
7D
0.2%
1Y
102.4%
VINCIT
€1.27
Vincit Oyj
7D
3.3%
1Y
-28.7%
GOFORE
€10.98
Gofore Oyj
7D
-12.4%
1Y
-48.6%
ICP1V
€9.60
Incap Oyj
7D
2.7%
1Y
-15.3%
TLT1V
€3.85
Teleste Oyj
7D
0.8%
1Y
31.0%