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

Swedish (OMX) Tech Sector Analysis

UpdatedFeb 09, 2026
DataAggregated Company Financials
Companies139
  • 7D-1.7%
  • 3M-7.9%
  • 1Y-11.9%
  • YTD-1.0%

Over the last 7 days, the Tech industry has dropped 1.7%, driven by a pullback from Hexagon of 6.0%. Meanwhile, Lagercrantz Group actually outperformed within the industry, gaining 12% in the last week. Overall the industry is down 12% in 12 months. Earnings are forecast to grow by 10% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Mon, 09 Feb 2026SEK 838.2bSEK 445.1bSEK 38.0b23.4x22.1x1.9x
Wed, 07 Jan 2026SEK 847.9bSEK 448.3bSEK 35.6b26.5x23.8x1.9x
Fri, 05 Dec 2025SEK 875.5bSEK 450.8bSEK 35.8b28.1x24.5x1.9x
Sun, 02 Nov 2025SEK 932.1bSEK 452.2bSEK 29.7b29.2x31.4x2.1x
Tue, 30 Sep 2025SEK 840.0bSEK 458.0bSEK 25.2b28.9x33.4x1.8x
Thu, 28 Aug 2025SEK 840.0bSEK 458.0bSEK 25.5b31.1x33x1.8x
Sat, 26 Jul 2025SEK 905.9bSEK 460.4bSEK 26.8b28.8x33.8x2x
Mon, 23 Jun 2025SEK 854.0bSEK 465.4bSEK 10.9b25.5x78.6x1.8x
Wed, 21 May 2025SEK 893.1bSEK 462.5bSEK 10.3b26.9x87.1x1.9x
Fri, 18 Apr 2025SEK 829.5bSEK 462.6bSEK 10.5b24x78.7x1.8x
Sun, 16 Mar 2025SEK 933.6bSEK 461.8bSEK 11.2b25.5x83.2x2x
Tue, 11 Feb 2025SEK 991.0bSEK 464.0bSEK 4.7b27.4x209.4x2.1x
Thu, 09 Jan 2025SEK 930.2bSEK 465.3bSEK 3.3b24.7x281.2x2x
Sat, 07 Dec 2024SEK 936.6bSEK 465.0bSEK 3.2b25x289.2x2x
Mon, 04 Nov 2024SEK 910.7bSEK 463.7bSEK 10.0b25.3x90.7x2x
Wed, 02 Oct 2024SEK 872.2bSEK 464.4b-SEK 27,371,189,103.6226.8x-31.9x1.9x
Fri, 30 Aug 2024SEK 871.7bSEK 464.2b-SEK 27,432,035,614.5026.9x-31.8x1.9x
Sun, 28 Jul 2024SEK 863.9bSEK 466.3b-SEK 27,392,946,155.1925.6x-31.5x1.9x
Tue, 25 Jun 2024SEK 868.3bSEK 467.0b-SEK 18,000,059,489.0627.8x-48.2x1.9x
Thu, 23 May 2024SEK 889.0bSEK 472.5b-SEK 17,393,903,549.7730x-51.1x1.9x
Sat, 20 Apr 2024SEK 835.4bSEK 474.0b-SEK 17,327,937,845.4326.5x-48.2x1.8x
Mon, 18 Mar 2024SEK 861.4bSEK 481.6b-SEK 18,799,987,187.7226.6x-45.8x1.8x
Wed, 14 Feb 2024SEK 811.5bSEK 481.8b-SEK 18,858,527,952.8831.5x-43x1.7x
Fri, 12 Jan 2024SEK 828.6bSEK 494.4b-SEK 16,317,136,910.0030.7x-50.8x1.7x
Sun, 10 Dec 2023SEK 803.2bSEK 495.3b-SEK 16,242,327,408.0029.4x-49.5x1.6x
Tue, 07 Nov 2023SEK 676.0bSEK 498.1b-SEK 20,927,416,158.0024.2x-32.3x1.4x
Thu, 05 Oct 2023SEK 688.5bSEK 500.1bSEK 17.3b22x39.7x1.4x
Sat, 02 Sep 2023SEK 718.0bSEK 501.7bSEK 17.6b22.9x40.8x1.4x
Mon, 31 Jul 2023SEK 745.7bSEK 499.2bSEK 17.3b25x43.2x1.5x
Wed, 28 Jun 2023SEK 820.4bSEK 495.1bSEK 23.5b22.1x34.8x1.7x
Fri, 26 May 2023SEK 804.9bSEK 493.4bSEK 23.4b24.7x34.3x1.6x
Sun, 23 Apr 2023SEK 795.5bSEK 487.2bSEK 22.8b27.2x34.8x1.6x
Tue, 21 Mar 2023SEK 780.9bSEK 477.1bSEK 24.2b26.7x32.3x1.6x
Thu, 16 Feb 2023SEK 833.3bSEK 449.6bSEK 28.2b27.1x29.5x1.9x
Price to Earnings Ratio

29.5x


Total Market Cap: SEK 833.3bTotal Earnings: SEK 28.2bTotal Revenue: SEK 449.6bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.5x202420252026
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 22.1x which is lower than its 3-year average PE of 38.5x.
  • 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 10% 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 Market1.09%
Tech-1.68%
Communications1.22%
Tech Hardware1.09%
Semiconductors0.046%
IT-3.48%
Software-3.82%
Electronic Equipment and Components-3.86%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 36.4x.
    • Analysts are expecting annual earnings growth of 17.7%, which is higher than its past year's earnings decline of 7.3% 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 4.7% 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 100.652.2%
+SEK 7.2b		20.1%PE11.8x
LAGR B Lagercrantz GroupSEK 216.8010.0%
+SEK 4.1b		-6.2%PE39.1x
VIT B Vitec Software GroupSEK 261.006.7%
+SEK 654.2m		-58.3%PE23.9x
KNOW KnowitSEK 130.4013.0%
+SEK 409.6m		-1.8%PS0.6x
HANZA HanzaSEK 143.604.2%
+SEK 365.2m		79.5%PE45x

Latest News

VIT B
SEK 261.00
Vitec Software Group
7D
6.7%
1Y
-58.3%

Here's What Analysts Are Forecasting For Vitec Software Group AB (publ) (STO:VIT B) After Its Full-Year Results

Feb 09
Here's What Analysts Are Forecasting For Vitec Software Group AB (publ) (STO:VIT B) After Its Full-Year Results
BERNER B
SEK 105.50
Berner Industrier
7D
7.9%
1Y
197.2%
KNOW
SEK 130.40
Knowit
7D
13.0%
1Y
-1.8%
HANZA
SEK 143.60
Hanza
7D
4.2%
1Y
79.5%
FRACTL
SEK 13.76
Fractal Gaming Group
7D
-37.3%
1Y
-63.5%

Fractal Gaming Group AB (publ) Just Missed Earnings - But Analysts Have Updated Their Models

Feb 08
Fractal Gaming Group AB (publ) Just Missed Earnings - But Analysts Have Updated Their Models
MYCR
SEK 193.50
Mycronic
7D
-7.5%
1Y
-23.1%

MYCR: Asian Orders And Higher Margins Will Support Bullish Outlook

Analysts have trimmed their price target on Mycronic to SEK215 from about SEK218.67, citing updated assumptions that include a slightly higher discount rate, adjusted revenue growth and profit margin expectations, and a lower future P/E multiple. What's in the News Mycronic announced an annual dividend of SEK 3.25 per share, with an ex dividend date set for May 7, 2026, a record date on May 8, 2026, and a payment date on May 13, 2026 (company announcement).
SINCH
SEK 24.79
Sinch
7D
-5.9%
1Y
-0.6%

SINCH: Future Repricing Hinges On Execution And Profitability Delivery

Analysts have nudged their price expectations for Sinch higher, with the fair value estimate moving from SEK 35.57 to about SEK 35.94. They cite recent sector-wide rating adjustments and updated views on discount rates, revenue growth, profit margins and future P/E assumptions.
LAGR B
SEK 216.80
Lagercrantz Group
7D
10.0%
1Y
-6.2%
DYVOX
SEK 92.25
Dynavox Group
7D
3.4%
1Y
31.0%
NCAB
SEK 45.50
NCAB Group
7D
-3.5%
1Y
-31.1%
ANOD B
SEK 79.20
Addnode Group
7D
-8.8%
1Y
-31.7%
ERIC B
SEK 100.65
Telefonaktiebolaget LM Ericsson
7D
2.2%
1Y
20.1%

ERIC B: European Vendor Shifts And Higher Profit Assumptions Will Support Balanced Outlook

Analysts have lifted their price targets on Telefonaktiebolaget LM Ericsson, supporting a fair value move from SEK 106 to about SEK 109 as they factor in updated assumptions on growth, profitability and a lower future P/E multiple. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson shows a cluster of price target adjustments that align with the move in fair value from SEK 106 to about SEK 109.
YUBICO
SEK 61.80
Yubico
7D
-5.4%
1Y
-73.5%

YUBICO: Expanded Service Platform And Leadership Transition Will Support Long-Term Profitability

Analysts have reduced their price target for Yubico from $120.00 to $100.00, citing updated assumptions for revenue growth, profit margins, and a slightly lower future P/E multiple. What's in the News Yubico expanded YubiKey as a Service with new capabilities aimed at helping organizations adopt phishing resistant, hardware based passkeys at scale, including tools to support passwordless authentication across large workforces.
HEXA B
SEK 95.26
Hexagon
7D
-6.6%
1Y
-24.5%

HEXA B: More Conservative Assumptions Will Still Support Future Share Outperformance

Analysts have slightly reduced their fair value estimate for Hexagon to SEK 139.82 from SEK 148.28, reflecting updated assumptions on discount rate, revenue growth, profit margin and a lower future P/E multiple, alongside recent Street research that includes a SEK 5 price target trim and an upgrade to Outperform with a SEK 130 target. Analyst Commentary Recent Street research around Hexagon points to a generally constructive tone, even as fair value estimates and price targets are being fine tuned.
MSAB B
SEK 72.40
Micro Systemation
7D
10.7%
1Y
25.3%
TRUE B
SEK 14.30
Truecaller
7D
-4.5%
1Y
-79.4%

TRUE B: Marketplace Model Concerns Will Create Longer Term Entry Opportunity

Analysts now see Truecaller’s fair value at $21.00, down from $60.00. This reflects more cautious assumptions on revenue growth, profit margins and future P/E multiples in light of recent sector commentary that highlights slower rollout timelines and more listing-style business models at peers.