Is There An Opportunity With Qt Group Oyj's (HEL:QTCOM) 47% Undervaluation?
Sep 17
Have your own idea? Try our Stock Screener
Finnish (OMX) Software Industry Analysis
UpdatedSep 19, 2025
DataAggregated Company Financials
Companies13
- 7D5.4%
- 3M6.5%
- 1Y-19.3%
- YTD-1.3%
Over the last 7 days, the Software industry has risen 1.8%, driven by gains from SSH Communications Security Oyj of 77%. During this same period, the QPR Software Oyj underperformed, falling 7.0%. In the past year, the industry is down 18%. Looking forward, earnings are forecast to grow by 36% annually.
Industry Valuation and Performance
Has the Finnish Software Industry valuation changed over the past few years?
| Date | Market Cap | Revenue | Earnings | PE | Absolute PE | PS |
|---|---|---|---|---|---|---|
| Fri, 19 Sep 2025 | €3.0b | €1.0b | €63.4m | 30.3x | 47.7x | 2.9x |
| Sun, 17 Aug 2025 | €2.9b | €1.0b | €63.7m | 40.4x | 45.8x | 2.8x |
| Tue, 15 Jul 2025 | €3.1b | €1.0b | €74.3m | 36.2x | 41.6x | 3x |
| Thu, 12 Jun 2025 | €3.0b | €1.0b | €75.0m | 34x | 39.6x | 2.9x |
| Sat, 10 May 2025 | €2.9b | €1.0b | €75.0m | 29.3x | 38.3x | 2.8x |
| Mon, 07 Apr 2025 | €3.2b | €1.1b | €79.3m | 35.6x | 40.1x | 2.8x |
| Wed, 05 Mar 2025 | €3.5b | €1.1b | €79.3m | 40.3x | 44.3x | 3.1x |
| Fri, 31 Jan 2025 | €3.3b | €1.1b | €36.2m | 38x | 91.8x | 3x |
| Sun, 29 Dec 2024 | €3.1b | €1.1b | €40.8m | 35.5x | 75.2x | 2.7x |
| Tue, 26 Nov 2024 | €3.2b | €1.1b | €41.4m | 33.2x | 76.4x | 2.8x |
| Thu, 24 Oct 2024 | €3.6b | €1.1b | €33.5m | 30.4x | 108.4x | 3.2x |
| Sat, 21 Sep 2024 | €3.8b | €1.1b | €40.7m | 28.5x | 92.4x | 3.3x |
| Mon, 19 Aug 2024 | €3.9b | €1.1b | €43.2m | 28x | 90.4x | 3.4x |
| Wed, 17 Jul 2024 | €3.6b | €1.1b | €30.6m | 27.5x | 119.1x | 3.2x |
| Fri, 14 Jun 2024 | €3.9b | €1.1b | €30.6m | 22.4x | 127.3x | 3.4x |
| Sun, 12 May 2024 | €3.5b | €1.1b | €27.4m | 21.1x | 127.6x | 3.1x |
| Tue, 09 Apr 2024 | €3.5b | €1.1b | €21.9m | 20.9x | 159.9x | 3.1x |
| Thu, 07 Mar 2024 | €3.4b | €1.1b | €21.9m | 22.5x | 157.3x | 3x |
| Sat, 03 Feb 2024 | €3.9b | €1.3b | €12.8m | 13.2x | 301.4x | 3x |
| Mon, 01 Jan 2024 | €3.7b | €1.3b | €13.6m | 13.6x | 275.3x | 2.9x |
| Wed, 29 Nov 2023 | €3.6b | €1.3b | €16.9m | 11.6x | 211.5x | 2.8x |
| Fri, 27 Oct 2023 | €3.1b | €1.3b | €14.6m | 18.6x | 213.6x | 2.4x |
| Sun, 24 Sep 2023 | €3.3b | €1.3b | €21.4m | 16.8x | 154.7x | 2.6x |
| Tue, 22 Aug 2023 | €3.5b | €1.3b | €22.7m | 22x | 156x | 2.8x |
| Thu, 20 Jul 2023 | €4.0b | €1.2b | €26.9m | 23.9x | 148.4x | 3.2x |
| Sat, 17 Jun 2023 | €4.6b | €1.2b | €21.2m | 25x | 214.3x | 3.7x |
| Mon, 15 May 2023 | €4.6b | €1.2b | €23.7m | 28.1x | 191.8x | 3.7x |
| Wed, 12 Apr 2023 | €4.3b | €1.2b | €21.8m | 27.4x | 198.9x | 3.5x |
| Fri, 10 Mar 2023 | €4.4b | €1.2b | €21.9m | 27.3x | 201.6x | 3.6x |
| Sun, 05 Feb 2023 | €4.1b | €1.4b | €38.1m | 40.6x | 108.1x | 2.9x |
| Tue, 03 Jan 2023 | €3.6b | €1.4b | €39.1m | 38.6x | 91.5x | 2.5x |
| Thu, 01 Dec 2022 | €3.6b | €1.4b | €40.3m | 38.7x | 90.4x | 2.6x |
| Sat, 29 Oct 2022 | €3.5b | €1.4b | €25.9m | 36.7x | 135.9x | 2.6x |
| Mon, 26 Sep 2022 | €3.4b | €1.4b | €76.8m | 31.5x | 44.3x | 2.5x |
Price to Earnings Ratio
44.3x
Current Industry PE
- Investors are pessimistic on the Finnish Software industry, indicating that they anticipate long term growth rates will be lower than they have historically.
- The industry is trading at a PE ratio of 46.6x which is lower than its 3-year average PE of 118x.
- The industry is trading close to its 3-year average PS ratio of 3.0x.
Past Earnings Growth
- The earnings for companies in the Software industry have declined 6.2% per year over the last three years,
- Revenues have also declined 8.7% 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 industry?
| FI Market | -0.80% | |
| Tech | 3.03% | |
| Software | 5.44% | |
| Systems Software | 6.66% | |
| Application Software | 4.01% | |
Industry PE
- Investors are most optimistic about the Systems Software industry which is trading above its 3-year average PE ratio of 93.1x.
- Analysts are expecting annual earnings growth of 48.5%, which is higher than its past year's earnings decline of 1.7% per year.
- Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 87.9x.
Forecasted Growth
- Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 49% over the next 5 years.
- This is better than its past earnings decline of 1.7% per year.
- In contrast, the Application Software industry is expected to see its earnings grow by 21% per year over the next few years.
Top Stock Gainers and Losers
Which companies have driven the market over the last 7 days?
| Company | Last Price | 7D | 1Y | Valuation | |
|---|---|---|---|---|---|
| SSH1V SSH Communications Security Oyj | €4.08 | 77.4% +€72.9m | 229.0% | PS7.3x | |
| QTCOM Qt Group Oyj | €47.46 | 4.2% +€48.8m | -48.1% | PE25.1x | |
| ADMCM Admicom Oyj | €46.85 | 7.1% +€15.6m | -5.4% | PE48.4x | |
| LEMON Lemonsoft Oyj | €7.20 | 5.3% +€6.4m | 14.3% | PE30.3x | |
| BITTI Bittium Oyj | €13.00 | 1.2% +€5.7m | 94.6% | PE71.4x |
