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Swedish (OMX) Tech Sector Analysis

UpdatedFeb 27, 2026
DataAggregated Company Financials
Companies136
  • 7D1.4%
  • 3M-2.2%
  • 1Y-10.2%
  • YTD1.1%

In the last week, the Tech industry is flat overall, with Addnode Group standing out by going down 4.8%. Unfortunately though, the industry is down 12% over the past 12 months. Looking forward, earnings are forecast to grow by 8.5% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 27 Feb 2026SEK 852.8bSEK 441.3bSEK 36.9b21.9x23.1x1.9x
Sun, 25 Jan 2026SEK 846.7bSEK 444.4bSEK 39.3b25.2x21.6x1.9x
Tue, 23 Dec 2025SEK 855.9bSEK 449.0bSEK 35.7b27.4x24x1.9x
Thu, 20 Nov 2025SEK 857.7bSEK 451.5bSEK 35.9b25.9x23.9x1.9x
Sat, 18 Oct 2025SEK 883.5bSEK 452.2bSEK 32.6b28.2x27.1x2x
Mon, 15 Sep 2025SEK 839.0bSEK 457.4bSEK 25.1b31x33.5x1.8x
Wed, 13 Aug 2025SEK 837.5bSEK 458.4bSEK 25.7b30.1x32.6x1.8x
Fri, 11 Jul 2025SEK 900.9bSEK 464.2bSEK 10.9b26.7x82.6x1.9x
Sun, 08 Jun 2025SEK 892.4bSEK 464.4bSEK 10.7b25.5x83.4x1.9x
Tue, 06 May 2025SEK 866.6bSEK 461.8bSEK 10.1b26.3x85.8x1.9x
Thu, 03 Apr 2025SEK 893.4bSEK 459.9bSEK 8.4b25.4x107x1.9x
Sat, 01 Mar 2025SEK 988.0bSEK 462.9bSEK 11.4b26.4x86.8x2.1x
Mon, 27 Jan 2025SEK 956.3bSEK 465.1bSEK 4.6b26.4x209.7x2.1x
Wed, 25 Dec 2024SEK 917.1bSEK 465.5bSEK 3.2b24.9x284.2x2x
Fri, 22 Nov 2024SEK 854.4bSEK 463.8bSEK 3.4b23.7x253.5x1.8x
Sun, 20 Oct 2024SEK 900.0bSEK 462.9bSEK 7.0b27.1x128.6x1.9x
Tue, 17 Sep 2024SEK 844.8bSEK 464.0b-SEK 27,391,485,856.9027.4x-30.8x1.8x
Thu, 15 Aug 2024SEK 830.8bSEK 465.0b-SEK 27,383,403,651.3426x-30.3x1.8x
Sat, 13 Jul 2024SEK 905.3bSEK 468.3b-SEK 17,899,174,338.1127.4x-50.6x1.9x
Mon, 10 Jun 2024SEK 876.3bSEK 468.0b-SEK 17,970,997,191.5827.8x-48.8x1.9x
Wed, 08 May 2024SEK 849.7bSEK 472.7b-SEK 17,191,707,357.2128.5x-49.4x1.8x
Fri, 05 Apr 2024SEK 860.6bSEK 483.1b-SEK 18,685,464,294.8527x-46.1x1.8x
Sun, 03 Mar 2024SEK 859.7bSEK 482.0b-SEK 19,314,501,979.2726.1x-44.5x1.8x
Tue, 30 Jan 2024SEK 830.3bSEK 480.6b-SEK 19,019,619,067.0031.5x-43.7x1.7x
Thu, 28 Dec 2023SEK 855.0bSEK 493.9b-SEK 16,389,717,663.0030.7x-52.2x1.7x
Sat, 25 Nov 2023SEK 731.5bSEK 497.0b-SEK 16,220,488,111.0027.5x-45.1x1.5x
Mon, 23 Oct 2023SEK 661.5bSEK 496.5b-SEK 18,528,865,509.0022.1x-35.7x1.3x
Wed, 20 Sep 2023SEK 697.8bSEK 502.0bSEK 17.6b22x39.7x1.4x
Fri, 18 Aug 2023SEK 714.3bSEK 500.9bSEK 17.4b24.2x41x1.4x
Sun, 16 Jul 2023SEK 781.8bSEK 496.5bSEK 18.3b24.6x42.8x1.6x
Tue, 13 Jun 2023SEK 834.0bSEK 494.2bSEK 23.5b23.7x35.5x1.7x
Thu, 11 May 2023SEK 790.5bSEK 490.8bSEK 23.4b25x33.8x1.6x
Sat, 08 Apr 2023SEK 820.4bSEK 479.7bSEK 24.2b26.8x33.8x1.7x
Mon, 06 Mar 2023SEK 821.9bSEK 452.4bSEK 23.9b28.4x34.4x1.8x
Price to Earnings Ratio

34.4x


Total Market Cap: SEK 821.9bTotal Earnings: SEK 23.9bTotal Revenue: SEK 452.4bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.4x202420252026
Current Industry PE
  • Investors are pessimistic on the Swedish Information Technology 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 22.8x which is lower than its 3-year average PE of 38.4x.
  • The industry is trading close to its 3-year average PS ratio of 1.8x.
Past Earnings Growth
  • The earnings for companies in the Information Technology industry have grown 16% per year over the last three years, while revenues have remained mostly flat.
  • This means that companies overall are more efficiently conducting business since profits are increasing while sales have been flat.

Industry Trends

Which industries have driven the changes within the Swedish Tech sector?

SE Market1.54%
Tech1.42%
Electronic Equipment and Components2.95%
Software1.10%
Semiconductors0.50%
Communications0.18%
Tech Hardware-1.55%
IT-2.25%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 32.5%, which is higher than its past year's earnings growth of 13.8% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 68% over the next 5 years.
  • In contrast, the Communications industry is expected to see its earnings decline by 4.9% 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
HEXA B HexagonSEK 101.402.6%
+SEK 7.0b		-17.7%PE41.3x
HANZA HanzaSEK 157.8017.2%
+SEK 1.5b		86.7%PE40.4x
LAGR B Lagercrantz GroupSEK 219.202.8%
+SEK 1.2b		-2.6%PE39.5x
MYCR MycronicSEK 204.003.1%
+SEK 1.2b		-11.7%PE25.5x
HMS HMS NetworksSEK 406.803.6%
+SEK 712.6m		-17.1%PE46.9x

Latest News

SIVE
SEK 2.90
Sivers Semiconductors
7D
-9.9%
1Y
-42.5%
HANZA
SEK 157.80
Hanza
7D
17.2%
1Y
86.7%
LAGR B
SEK 219.20
Lagercrantz Group
7D
2.8%
1Y
-2.6%
ERIC B
SEK 101.60
Telefonaktiebolaget LM Ericsson
7D
-0.05%
1Y
14.1%
NOTE
SEK 200.00
NOTE
7D
8.5%
1Y
26.1%

NOTE: Defense Order And Revised Assumptions Will Support Balanced Future Outlook

Analysts now set a higher price target for NOTE at SEK182, up from SEK127, reflecting updated assumptions for revenue growth, profit margins, discount rate and future P/E levels. What's in the News NOTE received an order worth SEK 135 million from a long term customer in the defense segment, a Nordic defense company that is described as a market leader in its field (Key Developments).
SKOLON
SEK 20.70
Skolon
7D
-16.9%
1Y
-31.2%
HMS
SEK 406.80
HMS Networks
7D
3.6%
1Y
-17.1%

HMS: Recent Rating Upgrades And Dividend Proposal Will Support Future Upside

Analysts have lifted their price target on HMS Networks to SEK 550, up from SEK 480, citing updated research that points to slightly stronger assumptions for long term growth and profitability, supported by recent rating upgrades. Analyst Commentary Recent research has pointed to a more constructive view on HMS Networks, with bullish analysts updating their models and signalling greater confidence in the company’s long term growth and profitability assumptions.
MYCR
SEK 204.00
Mycronic
7D
3.1%
1Y
-11.7%

MYCR: Asian Orders And 2026 Guidance Will Shape Balanced Outlook

Analysts now keep their SEK 215.0 price target for Mycronic broadly unchanged, with slight adjustments in the discount rate, revenue growth expectations, profit margin assumptions, and future P/E multiples shaping the latest narrative update. What's in the News Mycronic issued earnings guidance for 2026, indicating expected net sales of SEK 8.25b for the period (company guidance).
ANOD B
SEK 67.50
Addnode Group
7D
-4.8%
1Y
-36.7%
SINCH
SEK 23.12
Sinch
7D
4.2%
1Y
-5.3%
ADVE
SEK 15.00
Advenica
7D
-10.5%
1Y
13.2%
HEXA B
SEK 101.40
Hexagon
7D
2.6%
1Y
-17.7%

HEXA B: Refined Assumptions Will Support Future Share Outperformance Despite SEK 5 Trim

Analysts have lowered their Hexagon price target by SEK 5, reflecting updated views on fair value, the discount rate, and long-term assumptions on revenue growth, profit margins, and future P/E multiples. Analyst Commentary Bullish analysts see the SEK 5 adjustment to the Hexagon price target as a fine tuning of assumptions rather than a shift in overall conviction.
NCAB
SEK 53.45
NCAB Group
7D
2.1%
1Y
8.0%
BRIX
SEK 19.70
Briox
7D
-7.9%
1Y
332.0%

Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation

Feb 13
Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation
KNOW
SEK 112.20
Knowit
7D
-2.8%
1Y
-25.6%

Knowit AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Feb 11
Knowit AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
DYVOX
SEK 81.70
Dynavox Group
7D
-2.4%
1Y
24.7%

DYVOX: Higher Discount Rate Will Still Support Future Fair Value

Analysts have reduced their fair value estimate for Dynavox Group from $107.00 to $103.00. They now apply a higher discount rate and more cautious assumptions for revenue growth, profit margins and future P/E.