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Finnish (OMX) Tech Sector Analysis

UpdatedJan 26, 2026
DataAggregated Company Financials
Companies30
  • 7D1.1%
  • 3M-9.3%
  • 1Y22.1%
  • YTD3.9%

In the last week, the Tech industry is up 1.1%, with Nokia Oyj up 1.1%. This takes the industry's 12 month performance to a gain of 22%. 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
Tue, 27 Jan 2026€41.5b€26.3b€906.2m25.2x45.8x1.6x
Thu, 25 Dec 2025€39.7b€26.3b€905.7m23.9x43.9x1.5x
Sat, 22 Nov 2025€37.1b€26.3b€912.7m24.2x40.7x1.4x
Mon, 20 Oct 2025€34.9b€25.7b€959.1m25.2x36.4x1.4x
Wed, 17 Sep 2025€29.3b€25.7b€959.1m24x30.6x1.1x
Fri, 15 Aug 2025€27.9b€25.7b€966.4m25x28.8x1.1x
Sun, 13 Jul 2025€32.2b€25.7b€1.4b26.2x23.6x1.3x
Tue, 10 Jun 2025€34.4b€25.7b€1.4b25.8x25.2x1.3x
Thu, 08 May 2025€32.4b€25.7b€1.4b24.6x23.8x1.3x
Sat, 05 Apr 2025€32.7b€25.8b€1.9b22.5x17.4x1.3x
Mon, 03 Mar 2025€34.8b€25.8b€1.9b27.2x18.5x1.3x
Wed, 29 Jan 2025€32.6b€26.4b€1.3b25.2x25.9x1.2x
Fri, 27 Dec 2024€31.5b€26.4b€1.3b25.1x25.1x1.2x
Sun, 24 Nov 2024€30.2b€26.4b€1.3b24.4x24x1.1x
Tue, 22 Oct 2024€33.2b€26.4b€1.3b23.7x26.2x1.3x
Thu, 19 Sep 2024€30.2b€26.8b€1.3b23.3x24x1.1x
Sat, 17 Aug 2024€29.7b€26.8b€1.3b22.1x23.5x1.1x
Mon, 15 Jul 2024€29.5b€27.8b€1.1b23.2x25.8x1.1x
Wed, 12 Jun 2024€29.1b€27.8b€1.1b23.3x25.5x1x
Fri, 10 May 2024€28.2b€27.8b€1.1b22.2x24.7x1x
Sun, 07 Apr 2024€26.7b€29.0b€1.0b19.8x26.5x0.9x
Tue, 05 Mar 2024€27.6b€29.0b€1.0b19.4x27.5x1x
Thu, 01 Feb 2024€28.0b€29.3b€1.0b19.2x27.5x1x
Sat, 30 Dec 2023€26.5b€31.1b€4.2b17.1x6.3x0.9x
Mon, 27 Nov 2023€27.2b€31.1b€4.2b16.5x6.4x0.9x
Wed, 25 Oct 2023€25.1b€31.1b€4.2b15.5x5.9x0.8x
Fri, 22 Sep 2023€29.2b€32.3b€4.5b17.7x6.5x0.9x
Sun, 20 Aug 2023€29.0b€32.3b€4.5b19.5x6.4x0.9x
Tue, 18 Jul 2023€29.6b€32.4b€4.7b23.6x6.3x0.9x
Thu, 15 Jun 2023€33.3b€32.4b€4.7b23.7x7.1x1x
Sat, 13 May 2023€32.5b€32.4b€4.7b26.2x6.9x1x
Mon, 10 Apr 2023€36.8b€31.7b€4.5b25.7x8.1x1.2x
Wed, 08 Mar 2023€37.3b€31.6b€4.5b27.9x8.2x1.2x
Fri, 03 Feb 2023€36.5b€31.8b€4.6b28.6x8x1.2x
Price to Earnings Ratio

8x


Total Market Cap: €36.5bTotal Earnings: €4.6bTotal Revenue: €31.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 20.6x202420252026
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 45.8x which is higher than its 3-year average PE of 20.6x.
  • 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 42% 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 Market0.13%
Tech1.08%
Software1.46%
Electronic Equipment and Components1.13%
Communications1.10%
IT0.19%
Tech Hardware0%0
Semiconductors0%0
Industry PE
  • Investors are most optimistic about the Software industry even though it's trading below its 3-year average PE ratio of 115x.
    • Analysts are expecting annual earnings growth of 36.9%, which is higher than its past year's earnings decline of 9.0% 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
NOKIA Nokia Oyj€5.782.5%
+€795.2m		33.2%PE38.1x
BITTI Bittium Oyj€39.853.5%
+€47.9m		516.9%PE218.9x
SCANFL Scanfil Oyj€10.647.4%
+€47.8m		26.7%PE18.7x
TIETO TietoEVRY Oyj€19.121.0%
+€22.5m		6.4%PS0.8x
FSECURE F-Secure Oyj€2.005.9%
+€19.6m		5.0%PE17x

Latest News

SCANFL
€10.64
Scanfil Oyj
7D
7.4%
1Y
26.7%

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

Jan 26
Is Scanfil Oyj (HEL:SCANFL) Using Too Much Debt?
CANATU
€9.82
Canatu Oyj
7D
5.6%
1Y
-16.8%
BITTI
€39.85
Bittium Oyj
7D
3.5%
1Y
516.9%

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
€45.60
Admicom Oyj
7D
2.0%
1Y
-10.4%
FSECURE
€2.00
F-Secure Oyj
7D
5.9%
1Y
5.0%
NOKIA
€5.78
Nokia Oyj
7D
2.5%
1Y
33.2%

NOKIA: Telecom Capex Constraints Will Limit AI Networking Upside

Analysts have lifted their price target on Nokia Oyj to about €3.59 from roughly €3.03, pointing to updated assumptions for slightly lower discount rates, higher revenue growth, a reduced profit margin, and a higher future P/E multiple, supported by a series of recent upgrades and target hikes following Q3 results and AI related commentary. Analyst Commentary Recent research on Nokia Oyj shows a mix of optimism around AI and network opportunities alongside more cautious views on execution, capital intensity, and the balance of risks.
DIGIGR
€3.40
Digitalist Group
7D
115.6%
1Y
0.1%
TIETO
€19.12
TietoEVRY Oyj
7D
1.0%
1Y
6.4%

TIETO: Higher Earnings Multiple And Weaker Margins Will Pressure Future Returns

Analysts have lifted their fair value estimate for TietoEVRY Oyj from €12.30 to €16.00, citing updated assumptions around discount rates, revenue trends and future P/E expectations. What's in the News Tietoevry Corporation plans to propose amendments to the Charter of the Shareholders' Nomination Board at the Annual General Meeting scheduled for January 15, 2026.
DETEC
€10.95
Detection Technology Oyj
7D
-1.8%
1Y
-25.0%
BOREO
€14.40
Boreo Oyj
7D
-1.0%
1Y
54.5%
QTCOM
€30.40
Qt Group Oyj
7D
-0.07%
1Y
-59.9%

QTCOM: Expanded Chip Partnerships Will Support Future Edge Computing Upside

Analysts now keep their fair value estimate for Qt Group Oyj steady at €44.75, indicating only minimal tweaks in assumptions such as the discount rate and future P/E, rather than a shift in their core view of the company. What's in the News Qt Group launched a new Axivion 7.11 feature that automatically checks whether NVIDIA CUDA based code follows established safety and security rules, aiming to help developers in areas like self driving cars, medical scanners, and robotics build compliant applications more efficiently (Product related announcement).
SSH1V
€2.98
SSH Communications Security Oyj
7D
-3.2%
1Y
185.2%
GOFORE
€13.50
Gofore Oyj
7D
-3.4%
1Y
-39.3%
TAMTRON
€5.90
Tamtron Group Oyj
7D
-0.7%
1Y
6.9%
SIILI
€4.50
Siili Solutions Oyj
7D
-1.7%
1Y
-14.4%
LEMON
€5.72
Lemonsoft Oyj
7D
-2.7%
1Y
-12.0%