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Finnish (OMX) Tech Sector Analysis

UpdatedFeb 03, 2026
DataAggregated Company Financials
Companies29
  • 7D-3.2%
  • 3M-3.3%
  • 1Y15.1%
  • YTD1.7%

Over the last 7 days, the Tech industry has dropped 3.2%, driven by a pullback from Nokia Oyj of 3.4%. In contrast, Scanfil Oyj has gained 6.2%. This takes the industry's 12 month performance to a gain of 15%. Earnings are forecast to grow by 31% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 04 Feb 2026€40.3b€26.3b€696.0m24.7x57.9x1.5x
Fri, 02 Jan 2026€40.3b€26.3b€905.7m24.6x44.5x1.5x
Sun, 30 Nov 2025€37.9b€26.3b€912.7m25x41.5x1.4x
Tue, 28 Oct 2025€38.4b€26.3b€912.1m26.1x42x1.5x
Thu, 25 Sep 2025€30.4b€25.7b€959.1m24.4x31.7x1.2x
Sat, 23 Aug 2025€28.8b€25.7b€964.5m24.2x29.8x1.1x
Mon, 21 Jul 2025€31.7b€25.7b€1.4b26.6x23.3x1.2x
Wed, 18 Jun 2025€33.1b€25.7b€1.4b25.4x24.3x1.3x
Fri, 16 May 2025€33.7b€25.7b€1.4b25.3x24.7x1.3x
Sun, 13 Apr 2025€31.8b€25.8b€1.9b22.9x16.9x1.2x
Tue, 11 Mar 2025€35.7b€25.8b€1.9b26.3x19x1.4x
Thu, 06 Feb 2025€33.7b€25.8b€2.0b23.8x16.4x1.3x
Sat, 04 Jan 2025€32.0b€26.4b€1.3b25.3x25.4x1.2x
Mon, 02 Dec 2024€29.6b€26.4b€1.3b24.6x23.5x1.1x
Wed, 30 Oct 2024€33.7b€26.4b€1.3b23.3x26.8x1.3x
Fri, 27 Sep 2024€31.3b€26.8b€1.3b23.8x24.8x1.2x
Sun, 25 Aug 2024€30.1b€26.8b€1.3b22.4x23.9x1.1x
Tue, 23 Jul 2024€28.4b€26.8b€1.2b21.5x22.9x1.1x
Thu, 20 Jun 2024€28.1b€27.8b€1.1b22.6x24.6x1x
Sat, 18 May 2024€29.3b€27.8b€1.1b22x25.7x1.1x
Mon, 15 Apr 2024€26.4b€29.0b€1.0b20.1x26.2x0.9x
Wed, 13 Mar 2024€27.8b€29.0b€1.0b17.1x27.5x1x
Fri, 09 Feb 2024€27.6b€29.1b€1.0b21x26.5x0.9x
Sun, 07 Jan 2024€27.2b€31.1b€4.2b16.9x6.5x0.9x
Tue, 05 Dec 2023€25.7b€31.1b€4.2b16.5x6.1x0.8x
Thu, 02 Nov 2023€26.0b€31.1b€4.2b14.6x6.2x0.8x
Sat, 30 Sep 2023€28.7b€32.3b€4.5b17.7x6.4x0.9x
Mon, 28 Aug 2023€28.9b€32.3b€4.5b19.3x6.4x0.9x
Wed, 26 Jul 2023€30.4b€32.2b€4.5b22.1x6.7x0.9x
Fri, 23 Jun 2023€31.9b€32.4b€4.7b24.7x6.8x1x
Sun, 21 May 2023€33.0b€32.4b€4.7b26.2x7x1x
Tue, 18 Apr 2023€37.2b€31.8b€4.5b27.9x8.2x1.2x
Thu, 16 Mar 2023€35.0b€31.7b€4.6b26.8x7.7x1.1x
Sat, 11 Feb 2023€35.6b€31.7b€4.5b28.2x7.8x1.1x
Price to Earnings Ratio

7.8x


Total Market Cap: €35.6bTotal Earnings: €4.5bTotal Revenue: €31.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 20.9x202420252026
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 57.9x which is higher than its 3-year average PE of 20.9x.
  • The 3-year average PS ratio of 1.1x is lower than the industry's current PS ratio of 1.5x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have declined 47% per year over the last three years,
  • Revenues have also declined 6.1% 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-0.61%
Tech-3.23%
Tech Hardware0%0
Semiconductors0%0
Electronic Equipment and Components-0.43%
IT-1.24%
Communications-3.42%
Software-5.19%
Industry PE
  • Investors are most optimistic about the Communications industry which is trading above its 3-year average PE ratio of 18.3x.
    • Analysts are expecting annual earnings growth of 27.5%, 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 77% 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 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
SCANFL Scanfil Oyj€11.001.3%
+€9.2m		34.8%PE19.3x
DIGIA Digia Oyj€6.361.6%
+€2.7m		-4.8%PE14.6x
DWF Digital Workforce Services Oyj€2.687.6%
+€2.1m		-31.3%PS1.1x
WITH WithSecure Oyj€1.720.2%
+€698.8k		102.4%PS2.5x
TEM1V Tecnotree Oyj€5.660.7%
+€680.7k		32.5%PE14.8x

Latest News

DWF
€2.68
Digital Workforce Services Oyj
7D
7.6%
1Y
-31.3%
NOKIA
€5.62
Nokia Oyj
7D
-4.5%
1Y
24.4%

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.
TIETO
€17.77
TietoEVRY Oyj
7D
-6.3%
1Y
-3.4%

TIETO: Elevated P/E And Governance Changes Will Constrain Future Share Returns

Analysts have kept their fair value estimate for TietoEVRY Oyj steady at €16.00, citing only minor adjustments to the discount rate, revenue trajectory and margins that did not justify a change in the overall price target. What's in the News Tietoevry's Shareholders' Nomination Board has proposed updating its Charter to reflect a brand change from Tietoevry to Tieto and to adjust several governance procedures for the Annual General Meeting on January 15, 2026 (Key Developments).
TEM1V
€5.66
Tecnotree Oyj
7D
0.7%
1Y
32.5%
VAIAS
€43.15
Vaisala Oyj
7D
-2.9%
1Y
-18.7%

Vaisala Oyj (HEL:VAIAS) Could Easily Take On More Debt

Jan 30
Vaisala Oyj (HEL:VAIAS) Could Easily Take On More Debt
QTCOM
€25.96
Qt Group Oyj
7D
-13.2%
1Y
-67.2%

Embedded License Pressure And Testing Cuts Will Eventually Reward Long Term Patience

Catalysts About Qt Group Oyj Qt Group Oyj provides tools and frameworks for developing and testing embedded software and graphical user interfaces across multiple industries. What are the underlying business or industry changes driving this perspective?
SCANFL
€11.00
Scanfil Oyj
7D
1.3%
1Y
34.8%

Is Scanfil Oyj (HEL:SCANFL) Using Too Much Debt?

Jan 26
Is Scanfil Oyj (HEL:SCANFL) Using Too Much Debt?
BITTI
€38.60
Bittium Oyj
7D
-10.0%
1Y
484.8%

BITTI: Raised 2025 Guidance And Defense Orders Will Still Not Justify P/E

Analysts have raised their price target for Bittium Oyj to €29.57 from €22.40, citing updates to their models that reflect revised assumptions for fair value, discount rate, revenue growth, profit margin and future P/E. What's in the News Bittium raised its 2025 earnings guidance, now estimating net sales of €116 million to €120 million and operating profit of €19 million to €21 million, compared with previous guidance of net sales of €95 million to €105 million and operating profit of €10 million to €13 million (Key Developments).
ADMCM
€39.60
Admicom Oyj
7D
-10.4%
1Y
-26.7%
FSECURE
€1.84
F-Secure Oyj
7D
-7.8%
1Y
0.8%
WITH
€1.72
WithSecure Oyj
7D
0.2%
1Y
102.4%
VINCIT
€1.28
Vincit Oyj
7D
0.8%
1Y
-27.4%
ICP1V
€9.60
Incap Oyj
7D
-4.4%
1Y
-14.5%
DIGIA
€6.36
Digia Oyj
7D
1.6%
1Y
-4.8%

Digia Oyj's (HEL:DIGIA) Shares Lagging The Market But So Is The Business

Dec 09
Digia Oyj's (HEL:DIGIA) Shares Lagging The Market But So Is The Business
TLT1V
€3.84
Teleste Oyj
7D
0.3%
1Y
43.3%