Investing IdeasBrowse All StocksMarkets
Have your own idea? Try our Stock Screener
Header cover image

Swedish (OMX) Tech Sector Analysis

UpdatedMar 05, 2026
DataAggregated Company Financials
Companies136
  • 7D2.3%
  • 3M-1.6%
  • 1Y-7.8%
  • YTD1.8%

In the last week, the Tech industry is up 2.3%, with Telefonaktiebolaget LM Ericsson up 4.2%. In the past year, the industry is down 7.8%. As for the next few years, earnings are expected to grow by 7.9% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Thu, 05 Mar 2026SEK 858.9bSEK 441.2bSEK 34.9b23.8x24.6x1.9x
Sat, 31 Jan 2026SEK 842.1bSEK 444.3bSEK 39.3b25.4x21.4x1.9x
Mon, 29 Dec 2025SEK 852.5bSEK 448.4bSEK 35.6b27.3x23.9x1.9x
Wed, 26 Nov 2025SEK 872.1bSEK 451.9bSEK 35.9b26.6x24.3x1.9x
Fri, 24 Oct 2025SEK 901.5bSEK 451.9bSEK 32.6b28.6x27.7x2x
Sun, 21 Sep 2025SEK 867.7bSEK 458.1bSEK 25.2b30.4x34.5x1.9x
Tue, 19 Aug 2025SEK 832.0bSEK 458.5bSEK 25.5b29.8x32.6x1.8x
Thu, 17 Jul 2025SEK 868.1bSEK 461.2bSEK 27.0b25.2x32.1x1.9x
Sat, 14 Jun 2025SEK 857.3bSEK 464.2bSEK 10.6b25.8x80.6x1.8x
Mon, 12 May 2025SEK 860.8bSEK 462.3bSEK 10.2b26.6x84.7x1.9x
Wed, 09 Apr 2025SEK 805.3bSEK 461.3bSEK 9.0b23.4x89.9x1.7x
Fri, 07 Mar 2025SEK 959.3bSEK 461.6bSEK 11.5b26.5x83.8x2.1x
Sun, 02 Feb 2025SEK 996.3bSEK 465.2bSEK 4.9b24.2x204.3x2.1x
Tue, 31 Dec 2024SEK 919.7bSEK 465.2bSEK 3.2b25x286.9x2x
Thu, 28 Nov 2024SEK 862.6bSEK 464.1bSEK 3.4b24.8x255.5x1.9x
Sat, 26 Oct 2024SEK 924.4bSEK 463.1bSEK 9.4b26.1x98.4x2x
Mon, 23 Sep 2024SEK 863.6bSEK 464.5b-SEK 27,423,330,476.1327.9x-31.5x1.9x
Wed, 21 Aug 2024SEK 855.8bSEK 463.9b-SEK 27,589,776,446.9726.8x-31x1.8x
Fri, 19 Jul 2024SEK 885.4bSEK 465.3b-SEK 28,183,435,765.9126.6x-31.4x1.9x
Sun, 16 Jun 2024SEK 856.1bSEK 467.2b-SEK 18,025,514,445.5427.7x-47.5x1.8x
Tue, 14 May 2024SEK 859.0bSEK 472.8b-SEK 17,177,984,891.1928.1x-50x1.8x
Thu, 11 Apr 2024SEK 842.2bSEK 481.9b-SEK 18,703,451,019.7428.2x-45x1.7x
Sat, 09 Mar 2024SEK 857.5bSEK 482.0b-SEK 19,158,810,147.9426.8x-44.8x1.8x
Mon, 05 Feb 2024SEK 817.7bSEK 481.6b-SEK 19,219,255,830.0031.5x-42.5x1.7x
Wed, 03 Jan 2024SEK 846.7bSEK 494.7b-SEK 16,323,533,260.0030.7x-51.9x1.7x
Fri, 01 Dec 2023SEK 736.4bSEK 496.0b-SEK 16,359,752,774.0028.4x-45x1.5x
Sun, 29 Oct 2023SEK 640.5bSEK 498.7b-SEK 20,798,883,984.0023.3x-30.8x1.3x
Tue, 26 Sep 2023SEK 699.9bSEK 500.8bSEK 17.4b21.9x40.2x1.4x
Thu, 24 Aug 2023SEK 709.2bSEK 501.3bSEK 17.5b23.6x40.6x1.4x
Sat, 22 Jul 2023SEK 766.5bSEK 498.0bSEK 17.4b24.5x44.1x1.5x
Mon, 19 Jun 2023SEK 858.2bSEK 494.7bSEK 23.5b22.7x36.5x1.7x
Wed, 17 May 2023SEK 802.5bSEK 491.9bSEK 23.5b26.5x34.1x1.6x
Fri, 14 Apr 2023SEK 821.7bSEK 479.3bSEK 24.2b27.6x34x1.7x
Sun, 12 Mar 2023SEK 801.6bSEK 454.3bSEK 23.9b27.2x33.5x1.8x
Price to Earnings Ratio

33.5x


Total Market Cap: SEK 801.6bTotal Earnings: SEK 23.9bTotal Revenue: SEK 454.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.3x202420252026
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 24.6x which is lower than its 3-year average PE of 38.3x.
  • 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 13% 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 Market-2.22%
Tech2.28%
Communications4.08%
Semiconductors3.82%
Tech Hardware2.34%
Software0.95%
Electronic Equipment and Components0.90%
IT0.84%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 37.0x.
    • Analysts are expecting annual earnings growth of 15.5%, which is higher than its past year's earnings decline of 7.2% per year.
Forecasted Growth
  • Analysts are most optimistic on the Semiconductors industry, expecting annual earnings growth of 92% 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
ERIC B Telefonaktiebolaget LM EricssonSEK 103.702.1%
+SEK 7.0b		18.9%PE12.2x
MYCR MycronicSEK 206.852.9%
+SEK 1.2b		-5.6%PE25.9x
HMS HMS NetworksSEK 406.602.9%
+SEK 572.1m		-15.6%PE46.9x
SINCH SinchSEK 22.792.7%
+SEK 475.3m		-4.4%PE80.5x
HANZA HanzaSEK 166.003.9%
+SEK 390.3m		111.7%PE42.5x

Latest News

HEXA B
SEK 99.52
Hexagon
7D
-1.9%
1Y
-17.0%

HEXA B: Margin Resilience And Cost Execution Will Drive Future Upside Potential

Analysts have trimmed their Hexagon price targets by SEK 5, reflecting slightly softer assumptions on revenue growth and valuation multiples, which are partly offset by a small uplift in expected profit margins. Analyst Commentary Analysts are treating the SEK 5 cut to the Hexagon price target as a fine tuning of expectations rather than a fundamental reset, with tweaks across growth, margins and valuation multiples.
LIME
SEK 212.50
Lime Technologies
7D
16.0%
1Y
-44.4%
HANZA
SEK 166.00
Hanza
7D
3.9%
1Y
111.7%

HANZA: New Arjang Facility And Dividend Policy Will Support Balanced Outlook

Analysts have lifted their price target on Hanza from SEK120.25 to SEK149.00, reflecting updated assumptions on fair value that come alongside adjusted views on discount rate, revenue growth, profit margin and future P/E. What's in the News Hanza AB (publ) has announced an annual dividend of SEK 1.5000 per share, with an ex-date on May 13, 2026, record date on May 15, 2026, and payment on May 20, 2026 (Key Developments).
NOTE
SEK 193.30
NOTE
7D
-3.4%
1Y
16.1%
DONE
SEK 9.27
Done.ai Group
7D
-22.4%
1Y
-52.9%
LAGR B
SEK 210.00
Lagercrantz Group
7D
-4.2%
1Y
-1.9%
ERIC B
SEK 103.70
Telefonaktiebolaget LM Ericsson
7D
2.1%
1Y
18.9%
SEYE
SEK 55.95
Smart Eye
7D
-6.0%
1Y
4.2%
TRUE B
SEK 11.67
Truecaller
7D
8.4%
1Y
-85.2%

TRUE B: Trust And Safety Expansion Will Support Future Rerating Potential

Analysts have trimmed their fair value estimate for Truecaller from SEK 39.17 to SEK 36.00. This reflects updated views on slightly softer revenue growth and profit margins, along with a higher assumed discount rate, even as some Street research has turned more constructive with a recent upgrade and Buy rating at SEK 15.
HMS
SEK 406.60
HMS Networks
7D
2.9%
1Y
-15.6%

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 206.85
Mycronic
7D
2.9%
1Y
-5.6%

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 69.50
Addnode Group
7D
3.0%
1Y
-34.5%
YUBICO
SEK 50.88
Yubico
7D
-2.5%
1Y
-77.4%

YUBICO: Expanded Security Accreditation In Spain Will Support Future Upside

Analysts have revised their SEK 108.00 price target on Yubico to SEK 78.33. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
SINCH
SEK 22.79
Sinch
7D
2.7%
1Y
-4.4%
BERNER B
SEK 102.50
Berner Industrier
7D
-6.8%
1Y
156.3%
EXS
SEK 112.50
Exsitec Holding
7D
-6.6%
1Y
-4.7%

Analysts Have Been Trimming Their Exsitec Holding AB (publ) (STO:EXS) Price Target After Its Latest Report

Feb 06
Analysts Have Been Trimming Their Exsitec Holding AB (publ) (STO:EXS) Price Target After Its Latest Report