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Finnish (OMX) Tech Sector Analysis

UpdatedJan 29, 2026
DataAggregated Company Financials
Companies29
  • 7D2.5%
  • 3M-5.0%
  • 1Y21.2%
  • YTD3.1%

In the last week, the Tech industry is up 2.5%, with Nokia Oyj up 3.1%. In the last 12 months, the industry was up 21%. Earnings are forecast to grow by 33% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 29 Jan 2026€40.9b€26.2b€916.0m24.8x44.7x1.6x
Sat, 27 Dec 2025€39.7b€26.3b€905.7m23.9x43.9x1.5x
Mon, 24 Nov 2025€37.1b€26.3b€912.7m24.2x40.7x1.4x
Wed, 22 Oct 2025€34.9b€25.7b€959.1m25.3x36.4x1.4x
Fri, 19 Sep 2025€30.6b€25.7b€959.1m25.1x31.9x1.2x
Sun, 17 Aug 2025€28.2b€25.7b€966.4m25x29.2x1.1x
Tue, 15 Jul 2025€32.4b€25.7b€1.4b26.3x23.7x1.3x
Thu, 12 Jun 2025€33.8b€25.7b€1.4b26.3x24.8x1.3x
Sat, 10 May 2025€32.7b€25.7b€1.4b24.9x24x1.3x
Mon, 07 Apr 2025€32.7b€25.8b€1.9b22.4x17.4x1.3x
Wed, 05 Mar 2025€34.9b€25.8b€1.9b27x18.6x1.4x
Fri, 31 Jan 2025€32.4b€26.4b€1.3b26.5x25.9x1.2x
Sun, 29 Dec 2024€31.8b€26.4b€1.3b25.3x25.3x1.2x
Tue, 26 Nov 2024€30.4b€26.4b€1.3b24.6x24.2x1.2x
Thu, 24 Oct 2024€32.9b€26.4b€1.3b23.5x26.2x1.2x
Sat, 21 Sep 2024€30.3b€26.8b€1.3b23.7x24x1.1x
Mon, 19 Aug 2024€29.7b€26.8b€1.3b22.1x23.5x1.1x
Wed, 17 Jul 2024€28.6b€27.8b€1.1b22.6x25x1x
Fri, 14 Jun 2024€29.2b€27.8b€1.1b22.5x25.6x1.1x
Sun, 12 May 2024€28.2b€27.8b€1.1b22.1x24.8x1x
Tue, 09 Apr 2024€26.9b€29.0b€1.0b20x26.7x0.9x
Thu, 07 Mar 2024€27.5b€29.1b€1.0b18.9x27.4x0.9x
Sat, 03 Feb 2024€27.9b€29.3b€1.0b19.3x27.4x1x
Mon, 01 Jan 2024€26.5b€31.1b€4.2b17.1x6.3x0.9x
Wed, 29 Nov 2023€27.0b€31.1b€4.2b16.7x6.4x0.9x
Fri, 27 Oct 2023€25.2b€31.1b€4.2b15x6x0.8x
Sun, 24 Sep 2023€29.2b€32.3b€4.5b18.1x6.5x0.9x
Tue, 22 Aug 2023€29.0b€32.3b€4.5b19.4x6.4x0.9x
Thu, 20 Jul 2023€30.2b€32.4b€4.7b23x6.4x0.9x
Sat, 17 Jun 2023€33.6b€32.4b€4.7b23.8x7.2x1x
Mon, 15 May 2023€32.5b€32.4b€4.7b26.2x6.9x1x
Wed, 12 Apr 2023€37.0b€31.7b€4.5b25.1x8.1x1.2x
Fri, 10 Mar 2023€37.5b€31.6b€4.5b27.7x8.3x1.2x
Sun, 05 Feb 2023€36.3b€31.8b€4.6b27.7x7.9x1.1x
Price to Earnings Ratio

7.9x


Total Market Cap: €36.3bTotal Earnings: €4.6bTotal Revenue: €31.8bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Tech Sector Price to Earnings3Y Average 20.7x202420252026
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 44.7x which is higher than its 3-year average PE of 20.7x.
  • 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 6.2% 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 Market1.52%
Tech2.48%
Communications3.09%
Electronic Equipment and Components1.55%
Software1.17%
Tech Hardware0%0
Semiconductors0%0
IT-1.62%
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 33.6%, 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€5.663.1%
+€952.1m		31.6%PE37.3x
SCANFL Scanfil Oyj€10.768.6%
+€55.6m		31.5%PE18.9x
BITTI Bittium Oyj€39.102.4%
+€32.0m		480.1%PE214.7x
TEM1V Tecnotree Oyj€5.5840.9%
+€27.6m		52.2%PE14.6x
FSECURE F-Secure Oyj€1.911.0%
+€3.1m		2.8%PE16.2x

Latest News

NOKIA
€5.66
Nokia Oyj
7D
3.1%
1Y
31.6%
LEMON
€5.02
Lemonsoft Oyj
7D
-12.2%
1Y
-19.7%

A Look At The Intrinsic Value Of Lemonsoft Oyj (HEL:LEMON)

Jan 29
A Look At The Intrinsic Value Of Lemonsoft Oyj (HEL:LEMON)
QPR1V
€0.90
QPR Software Oyj
7D
4.2%
1Y
-15.9%
TEM1V
€5.58
Tecnotree Oyj
7D
40.9%
1Y
52.2%

The Returns On Capital At Tecnotree Oyj (HEL:TEM1V) Don't Inspire Confidence

Jan 28
The Returns On Capital At Tecnotree Oyj (HEL:TEM1V) Don't Inspire Confidence
QTCOM
€26.88
Qt Group Oyj
7D
-13.5%
1Y
-66.0%

QTCOM: Safety Software And Testing Automation Wins Will Support Future Upside

Analysts have kept their price target for Qt Group Oyj broadly in line with prior estimates, reflecting only very small tweaks to inputs such as the discount rate, revenue growth, profit margin and future P/E assumptions, rather than a material change in their valuation view. What's in the News Komatsu has adopted Qt Group's Squish platform to automate GUI testing for display screens in equipment used across more than 190 countries, aiming to improve testing efficiency and quality assurance at scale (Key Developments).
SCANFL
€10.76
Scanfil Oyj
7D
8.6%
1Y
31.5%

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

Jan 26
Is Scanfil Oyj (HEL:SCANFL) Using Too Much Debt?
CANATU
€9.24
Canatu Oyj
7D
-2.7%
1Y
-26.7%
SOLTEQ
€0.46
Solteq Oyj
7D
12.2%
1Y
-24.3%

Improved Revenues Required Before Solteq Oyj (HEL:SOLTEQ) Shares Find Their Feet

Jan 24
Improved Revenues Required Before Solteq Oyj (HEL:SOLTEQ) Shares Find Their Feet
BITTI
€39.10
Bittium Oyj
7D
2.4%
1Y
480.1%

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
€41.85
Admicom Oyj
7D
-9.0%
1Y
-21.8%
FSECURE
€1.91
F-Secure Oyj
7D
1.0%
1Y
2.8%
TIETO
€18.04
TietoEVRY Oyj
7D
-6.1%
1Y
-3.2%

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.
SSH1V
€2.87
SSH Communications Security Oyj
7D
-5.3%
1Y
164.5%
ICP1V
€9.85
Incap Oyj
7D
-2.3%
1Y
-12.0%
TLT1V
€3.86
Teleste Oyj
7D
2.4%
1Y
41.9%
VAIAS
€44.15
Vaisala Oyj
7D
-0.6%
1Y
-16.2%

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