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Finnish (OMX) Software Industry Analysis

UpdatedJul 12, 2026
DataAggregated Company Financials
Companies14
  • 7D-6.2%
  • 3M-8.6%
  • 1Y-14.4%
  • YTD-12.8%

Over the last 7 days, the Software industry has dropped 6.2%, driven by a pullback from Bittium Oyj of 16%. The industry has fallen 14% in the last year. Earnings are forecast to grow by 24% annually.

Industry Valuation and Performance

Has the Finnish Software Industry valuation changed over the past few years?

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 12 Jul 2026€2.8b€1.1b€92.8m20.2x29.7x2.6x
Tue, 09 Jun 2026€3.0b€969.4m€83.8m22.3x35.4x3.1x
Thu, 07 May 2026€2.7b€963.0m€88.4m17.7x30.2x2.8x
Sat, 04 Apr 2026€2.8b€968.1m€90.0m17.2x31.2x2.9x
Mon, 02 Mar 2026€2.5b€944.6m€90.8m25.6x27x2.6x
Wed, 28 Jan 2026€3.4b€909.1m€65.2m21.3x51.6x3.7x
Fri, 26 Dec 2025€3.1b€1.0b€54.9m23.9x56.4x3x
Sun, 23 Nov 2025€2.8b€1.0b€61.2m24.5x45.5x2.7x
Tue, 21 Oct 2025€2.8b€1.0b€63.4m30.3x44.5x2.7x
Thu, 18 Sep 2025€3.0b€1.0b€63.4m29.5x46.6x2.9x
Sat, 16 Aug 2025€2.9b€1.0b€63.7m40.4x45.8x2.8x
Mon, 14 Jul 2025€3.1b€1.0b€74.3m37x41.8x3x
Wed, 11 Jun 2025€3.0b€1.0b€75.0m34.3x39.8x2.9x
Fri, 09 May 2025€2.9b€1.0b€75.0m29x38.1x2.7x
Sun, 06 Apr 2025€3.2b€1.1b€79.3m35.6x40.1x2.8x
Tue, 04 Mar 2025€3.6b€1.1b€79.3m37.7x45.2x3.2x
Thu, 30 Jan 2025€3.3b€1.1b€36.2m37.3x91.8x3x
Sat, 28 Dec 2024€3.1b€1.1b€40.8m35.5x75.2x2.7x
Mon, 25 Nov 2024€3.1b€1.1b€41.4m32.9x74.3x2.7x
Wed, 23 Oct 2024€3.7b€1.1b€40.7m30.2x90.4x3.2x
Fri, 20 Sep 2024€3.8b€1.1b€40.7m28.5x94.1x3.4x
Sun, 18 Aug 2024€3.9b€1.1b€43.2m28x90.4x3.4x
Tue, 16 Jul 2024€3.6b€1.1b€30.6m26.6x117.5x3.2x
Thu, 13 Jun 2024€3.8b€1.1b€30.6m21.8x123.6x3.3x
Sat, 11 May 2024€3.5b€1.1b€27.4m21.1x127.6x3.1x
Mon, 08 Apr 2024€3.4b€1.1b€21.9m20.2x154.9x3x
Wed, 06 Mar 2024€3.4b€1.1b€21.9m24x156.3x3x
Fri, 02 Feb 2024€3.9b€1.3b€12.8m12.8x302.8x3x
Sun, 31 Dec 2023€3.7b€1.3b€13.6m13.6x275.5x2.9x
Tue, 28 Nov 2023€3.6b€1.3b€16.9m11.6x212.2x2.8x
Thu, 26 Oct 2023€3.0b€1.3b€14.1m18.2x214.6x2.4x
Sat, 23 Sep 2023€3.3b€1.3b€21.4m16.8x154.7x2.6x
Mon, 21 Aug 2023€3.5b€1.3b€22.7m22.8x156x2.8x
Wed, 19 Jul 2023€3.9b€1.2b€26.9m24.2x145.4x3.1x
Price to Earnings Ratio

145.4x


Total Market Cap: €3.9bTotal Earnings: €26.9mTotal Revenue: €1.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Finnish Software Industry Price to Earnings3Y Average 95.9x202420252026
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 29.7x which is lower than its 3-year average PE of 95.9x.
  • The 3-year average PS ratio of 3.0x is higher than the industry's current PS ratio of 2.6x.
Past Earnings Growth
  • The earnings for companies in the Software industry have grown 51% per year over the last three years.
  • Meanwhile revenues for these companies have declined 4.8% per year.
  • This means that less sales are being generated overall, but since cost of doing business is lower, profits have been increasing.

Industry Trends

Which industries have driven the changes within the Finnish Tech industry?

FI Market-2.03%
Tech-4.67%
Software-6.19%
Application Software1.40%
Systems Software-10.12%
Industry PE
  • Investors are most optimistic about the Systems Software industry even though it's trading below its 3-year average PE ratio of 70.9x.
    • Analysts are expecting annual earnings growth of 23.9%, which is higher than its past year's earnings decline of 2.0% per year.
  • Investors are most pessimistic about the Application Software industry, which is trading below its 3-year average of 55.3x.
Forecasted Growth
  • Analysts are most optimistic on the Systems Software industry, expecting annual earnings growth of 24% over the next 5 years.
  • This is better than its past earnings decline of 2.0% per year.
  • In contrast, the Application Software industry is expected to see its earnings grow by 23% 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
QTCOM Qt Group Oyj€24.082.8%
+€16.8m		-60.2%PE22.5x
SSH1V SSH Communications Security Oyj€2.051.5%
+€1.6m		-21.0%PS5.2x
TEM1V Tecnotree Oyj€5.700.5%
+€683.9k		18.8%PE12x
VINCIT Vincit Oyj€0.911.3%
+€201.2k		-46.5%PS0.2x

Latest News

ADMCM
€26.05
Admicom Oyj
7D
-3.2%
1Y
-49.5%
Analysis Article • Jul 11

Earnings Miss: Admicom Oyj Missed EPS By 79% And Analysts Are Revising Their Forecasts

Last week, you might have seen that Admicom Oyj ( HEL:ADMCM ) released its quarterly result to the market. The early...
REAKTOR
€7.70
Reaktor Group
7D
-0.6%
1Y
n/a
BITTI
€27.85
Bittium Oyj
7D
-16.0%
1Y
197.9%
QTCOM
€24.08
Qt Group Oyj
7D
2.8%
1Y
-60.2%
Narrative Update • Jul 10

QTCOM: Future Cost Restructuring Will Support Stronger Profitability Potential

Qt Group Oyj's analyst price target has shifted from €44 to €38, with analysts citing updated fair value work that factors in a higher discount rate along with expectations for stronger revenue growth, higher profit margins and a richer future P/E multiple. What’s in the News for Qt Group Oyj GigaDevice Semiconductor Inc.
EASOR
€0.54
Easor Oyj
7D
-2.5%
1Y
n/a
VINCIT
€0.91
Vincit Oyj
7D
1.3%
1Y
-46.5%
LEMON
€4.65
Lemonsoft Oyj
7D
-1.1%
1Y
-33.9%
Narrative Update • Jun 26

LEMON: Tender Offer Discount Will Support Future Upside Potential

Analysts have trimmed their fair value estimate for Lemonsoft Oyj from €7.20 to €6.00, pointing to updated assumptions for revenue growth, profit margins, discount rate and future P/E as the key drivers of this change. What's in the News for Lemonsoft Oyj Rite Internet Ventures Holding AB and Bird Cherry Holding Ab have proposed acquiring an additional 49.44% stake in Lemonsoft Oyj for €41.1 million, offering €4.67 per share in cash.
TEM1V
€5.70
Tecnotree Oyj
7D
0.5%
1Y
18.8%
Narrative Update • Jun 26

TEM1V: Future Telco Contracts And Costa Rica Rollout Will Frame Balanced Outlook

Analysts have lifted their fair value estimate for Tecnotree Oyj from €4.50 to €5.70, citing updated assumptions around the discount rate, expected revenue growth, profit margins, and a higher future P/E multiple. What’s in the News for Tecnotree Oyj Superintendence Of Telecommunications in Costa Rica advanced the modernization of the country’s Mobile Prepaid Registration System using a Tecnotree Oyj platform that incorporates identity verification, biometric authentication, and fraud prevention tools, aimed at strengthening regulatory compliance and user protection.
QPR1V
€0.57
QPR Software Oyj
7D
-7.1%
1Y
-30.8%
LEADD
€3.41
LeadDesk Oyj
7D
-3.4%
1Y
-51.3%
Narrative Update • Jun 14

LEADD: Hospital Contract And Refined Assumptions Will Support Future Upside

Analysts kept their €4.70 fair value estimate for LeadDesk Oyj steady while adjusting underlying assumptions such as discount rate, profit margin and future P/E, signalling a refined view of the stock’s risk and earnings profile rather than a change in headline valuation. What's in the News LeadDesk Plc has been selected as the supplier of the customer service and contact center system for the Hospital District of Helsinki and Uusimaa (HUS) following a public procurement process.
FSECURE
€2.04
F-Secure Oyj
7D
-1.0%
1Y
19.7%
SSH1V
€2.05
SSH Communications Security Oyj
7D
1.5%
1Y
-21.0%