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Finnish (OMX) Tech Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies30
  • 7D1.6%
  • 3M29.2%
  • 1Y21.7%
  • YTD18.9%

In the last week, the Tech industry is up 1.6%, with Nokia Oyj up 1.6%. This means that the industry has gained 22% over the past year. Looking forward, earnings are forecast to grow by 29% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
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
Sun, 01 Jan 2023€34.7b€30.7b€2.1b26.5x16.5x1.1x
Price to Earnings Ratio

16.5x


Total Market Cap: €34.7bTotal Earnings: €2.1bTotal Revenue: €30.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 19.8x202320242025
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 43.9x which is higher than its 3-year average PE of 19.8x.
  • 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 25% per year over the last three years,
  • Revenues have also declined 5.0% 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 Market1.05%
Tech1.56%
Software4.31%
Communications1.62%
Electronic Equipment and Components0.32%
Tech Hardware0%0
Semiconductors0%0
IT-0.65%
Industry PE
  • Investors are most optimistic about the Software industry even though it's trading below its 3-year average PE ratio of 116x.
    • Analysts are expecting annual earnings growth of 38.8%, which is higher than its past year's earnings decline of 9.1% per year.
Forecasted Growth
  • Analysts are most optimistic on the IT industry, expecting annual earnings growth of 78% 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€5.521.6%
+€492.3m		30.2%PE36.4x
BITTI Bittium Oyj€26.6513.6%
+€113.7m		303.8%PE146.4x
VAIAS Vaisala Oyj€43.750.9%
+€14.5m		-9.1%PE25.2x
QTCOM Qt Group Oyj€32.041.1%
+€8.6m		-52.0%PE19.5x
ADMCM Admicom Oyj€43.202.5%
+€5.3m		-8.4%PE44.9x

Latest News

BITTI
€26.65
Bittium Oyj
7D
13.6%
1Y
303.8%

BITTI: Defense Contract Momentum Will Likely Fail To Justify Rich Earnings Multiple

Analysts have nudged their price target on Bittium Oyj higher by approximately €1.00 per share, citing a modestly lower discount rate, slightly stronger long term profit margins, and a marginally richer future earnings multiple that together more than offset a small trim to projected revenue growth. What's in the News Bittium Wireless secured approximately EUR 15.9 million in purchase orders from the Finnish Defence Forces for Tough SDR Handheld and Vehicular radios, related accessories, and software and services, with deliveries and development scheduled for 2025 to 2026 (Key Developments).
NOKIA
€5.52
Nokia Oyj
7D
1.6%
1Y
30.2%

NOKIA: AI And Cloud Demand Will Drive Margin Expansion And Upside Potential

Nokia Oyj's analyst fair value estimate has been raised from EUR 5.75 to EUR 7.20, as analysts highlight improving margins, slightly stronger growth expectations, and an increasingly compelling AI driven equity story, despite mixed views on long term network infrastructure targets. Analyst Commentary Recent Street research on Nokia Oyj reflects a notable shift toward a more constructive stance, with several bullish analysts highlighting improving execution, a clearer growth algorithm, and a more compelling equity story tied to artificial intelligence and cloud driven demand.
TIETO
€18.04
TietoEVRY Oyj
7D
-0.9%
1Y
7.6%

TIETO: Higher Future Margins Are Expected To Drive Stronger Returns

Analysts have raised their fair value estimate for TietoEVRY Oyj by EUR 1.00 to EUR 21.00, citing expectations of stronger profit margins and a slightly lower discount rate, despite a modestly weaker revenue growth outlook and a lower implied future P E multiple. What's in the News TietoEVRY Oyj has ruled out large scale mergers and acquisitions during its current strategy period, responding to investor concerns about its past M&A track record (Capital Markets Day).
QTCOM
€32.04
Qt Group Oyj
7D
1.1%
1Y
-52.0%

QTCOM: Expanded Chip Partnerships Will Drive Future Edge Computing Upside

Analysts have nudged their price target on Qt Group Oyj slightly higher to EUR 44.75 from EUR 44.75. This reflects marginal improvements in the discount rate and long term valuation assumptions, despite largely unchanged growth and profitability forecasts.
DETEC
€10.95
Detection Technology Oyj
7D
-1.8%
1Y
-22.1%

DETEC: Future Earnings Upside Expected As Discount Rate Risk Moderately Reprices

Analysts have trimmed their price target on Detection Technology Oyj to €15.00 from €17.00, reflecting slightly higher perceived risk despite modestly stronger growth assumptions and a lower projected future price to earnings multiple. What's in the News Issued new sales guidance indicating a single digit year on year decline in total net sales for the fourth quarter of 2025, but double digit growth expected in the first quarter of 2026 (Corporate guidance).
SCANFL
€9.99
Scanfil Oyj
7D
-0.5%
1Y
22.9%
ICP1V
€9.85
Incap Oyj
7D
-0.2%
1Y
-3.4%
FSECURE
€1.90
F-Secure Oyj
7D
1.4%
1Y
4.7%
DIGIA
€6.34
Digia Oyj
7D
1.0%
1Y
-3.9%

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
LEMON
€5.96
Lemonsoft Oyj
7D
-2.0%
1Y
0.2%
QPR1V
€0.83
QPR Software Oyj
7D
10.7%
1Y
2.7%
LOIHDE
€11.90
Loihde Oyj
7D
-1.2%
1Y
5.3%
ADMCM
€43.20
Admicom Oyj
7D
2.5%
1Y
-8.4%
TEM1V
€4.06
Tecnotree Oyj
7D
-3.9%
1Y
63.5%

Tecnotree Oyj Just Missed Earnings - But Analysts Have Updated Their Models

Oct 31
Tecnotree Oyj Just Missed Earnings - But Analysts Have Updated Their Models
VAIAS
€43.75
Vaisala Oyj
7D
0.9%
1Y
-9.1%

Vaisala Oyj (HEL:VAIAS) Just Beat Earnings: Here's What Analysts Think Will Happen Next

Oct 28
Vaisala Oyj (HEL:VAIAS) Just Beat Earnings: Here's What Analysts Think Will Happen Next
CANATU
€8.16
Canatu Oyj
7D
-0.5%
1Y
-28.4%