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Swedish (OMX) Tech Sector Analysis

UpdatedJan 02, 2026
DataAggregated Company Financials
Companies139
  • 7D1.6%
  • 3M0.7%
  • 1Y-2.3%
  • YTDn/a

The Tech industry is up 1.6% in the last week, with Hexagon up 2.4%. Despite this gain, the industry's performance has been flat over the past year. 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
Fri, 02 Jan 2026SEK 865.9bSEK 448.8bSEK 35.7b27.4x24.3x1.9x
Sun, 30 Nov 2025SEK 873.5bSEK 450.7bSEK 35.8b27x24.4x1.9x
Tue, 28 Oct 2025SEK 924.2bSEK 451.7bSEK 29.3b28.5x31.5x2x
Thu, 25 Sep 2025SEK 862.5bSEK 458.0bSEK 25.2b29.9x34.3x1.9x
Sat, 23 Aug 2025SEK 852.3bSEK 458.3bSEK 25.4b30.6x33.5x1.9x
Mon, 21 Jul 2025SEK 880.5bSEK 461.0bSEK 26.9b28.6x32.7x1.9x
Wed, 18 Jun 2025SEK 863.7bSEK 464.3bSEK 10.7b25.7x81.1x1.9x
Fri, 16 May 2025SEK 894.0bSEK 462.2bSEK 10.2b26.8x87.9x1.9x
Sun, 13 Apr 2025SEK 781.4bSEK 461.8bSEK 9.1b23.8x86.2x1.7x
Tue, 11 Mar 2025SEK 940.4bSEK 461.5bSEK 11.4b26.9x82.3x2x
Thu, 06 Feb 2025SEK 990.0bSEK 464.4bSEK 4.8b25x205.8x2.1x
Sat, 04 Jan 2025SEK 923.8bSEK 464.9bSEK 3.3b25x282.2x2x
Mon, 02 Dec 2024SEK 869.7bSEK 464.9bSEK 3.3b25.4x266.3x1.9x
Wed, 30 Oct 2024SEK 942.5bSEK 463.5bSEK 9.4b26.6x99.9x2x
Fri, 27 Sep 2024SEK 886.6bSEK 464.2b-SEK 27,447,794,848.1127.7x-32.3x1.9x
Sun, 25 Aug 2024SEK 863.2bSEK 464.6b-SEK 27,446,638,574.8626.8x-31.4x1.9x
Tue, 23 Jul 2024SEK 891.8bSEK 465.9b-SEK 27,397,240,766.2425.8x-32.5x1.9x
Thu, 20 Jun 2024SEK 853.6bSEK 467.0b-SEK 18,035,649,506.6628.2x-47.3x1.8x
Sat, 18 May 2024SEK 868.6bSEK 472.5b-SEK 17,406,150,048.7128.8x-49.9x1.8x
Mon, 15 Apr 2024SEK 840.1bSEK 482.4b-SEK 18,670,447,345.4328x-45x1.7x
Wed, 13 Mar 2024SEK 862.8bSEK 481.0b-SEK 18,841,917,272.8826.8x-45.8x1.8x
Fri, 09 Feb 2024SEK 824.4bSEK 481.2b-SEK 19,047,685,471.8531.5x-43.3x1.7x
Sun, 07 Jan 2024SEK 830.1bSEK 495.1b-SEK 16,296,969,009.0030.6x-50.9x1.7x
Tue, 05 Dec 2023SEK 746.0bSEK 495.5b-SEK 16,251,964,566.0028.8x-45.9x1.5x
Thu, 02 Nov 2023SEK 652.1bSEK 498.9b-SEK 20,784,566,208.0023.3x-31.4x1.3x
Sat, 30 Sep 2023SEK 693.5bSEK 499.6bSEK 17.3b22.4x40.1x1.4x
Mon, 28 Aug 2023SEK 700.6bSEK 502.0bSEK 17.6b24.7x39.8x1.4x
Wed, 26 Jul 2023SEK 785.4bSEK 497.3bSEK 17.3b24.9x45.4x1.6x
Fri, 23 Jun 2023SEK 818.2bSEK 495.1bSEK 23.5b22.7x34.8x1.7x
Sun, 21 May 2023SEK 820.9bSEK 492.4bSEK 23.5b25.6x34.9x1.7x
Tue, 18 Apr 2023SEK 828.6bSEK 478.5bSEK 24.2b28x34.3x1.7x
Thu, 16 Mar 2023SEK 771.6bSEK 453.2bSEK 23.8b27x32.4x1.7x
Sat, 11 Feb 2023SEK 821.9bSEK 445.6bSEK 28.1b28.3x29.2x1.8x
Mon, 09 Jan 2023SEK 804.0bSEK 429.3bSEK 30.5b27x26.4x1.9x
Price to Earnings Ratio

26.4x


Total Market Cap: SEK 804.0bTotal Earnings: SEK 30.5bTotal Revenue: SEK 429.3bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.7x202420252026
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 24.3x which is lower than its 3-year average PE of 38.7x.
  • 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 5.3% 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 Market1.25%
Tech1.56%
Electronic Equipment and Components2.09%
Software1.91%
IT1.05%
Communications1.00%
Semiconductors0.75%
Tech Hardware-1.65%
Industry PE
  • Investors are most optimistic about the Tech Hardware industry even though it's trading below its 3-year average PE ratio of 2kx.
    • Analysts are expecting annual earnings growth of 36.3%, which is lower than the prior year's growth of 44.9% 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 8.2% 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 109.502.4%
+SEK 6.8b		3.9%PE40.4x
ERIC B Telefonaktiebolaget LM EricssonSEK 90.601.0%
+SEK 2.9b		-0.4%PE12.3x
SINCH SinchSEK 31.473.0%
+SEK 730.2m		50.4%PS0.9x
MYCR MycronicSEK 223.251.7%
+SEK 722.5m		9.9%PE25x
HMS HMS NetworksSEK 419.001.5%
+SEK 301.1m		-0.8%PE48x

Latest News

VIT B
SEK 309.60
Vitec Software Group
7D
2.1%
1Y
-43.6%

Vitec Software Group (STO:VIT B) Will Pay A Dividend Of SEK0.90

Jan 01
Vitec Software Group (STO:VIT B) Will Pay A Dividend Of SEK0.90
HEXA B
SEK 109.50
Hexagon
7D
2.4%
1Y
3.9%

Some Investors May Be Worried About Hexagon's (STO:HEXA B) Returns On Capital

Jan 01
Some Investors May Be Worried About Hexagon's (STO:HEXA B) Returns On Capital
MYCR
SEK 223.25
Mycronic
7D
1.7%
1Y
9.9%

Estimating The Fair Value Of Mycronic AB (publ) (STO:MYCR)

Dec 31
Estimating The Fair Value Of Mycronic AB (publ) (STO:MYCR)
LAGR B
SEK 212.80
Lagercrantz Group
7D
0.7%
1Y
2.0%
DYVOX
SEK 102.00
Dynavox Group
7D
-1.6%
1Y
63.2%

DYVOX: Future Profit Margins And Cash Flows Will Support Fair Value

Analysts have modestly reiterated their SEK 107.00 price target on Dynavox Group, citing slightly stronger expected revenue growth and improved profit margins that together offset a marginally lower future P/E multiple and discount rate. Valuation Changes Fair Value: Unchanged at SEK 107.00 per share, indicating that modest fundamental improvements are balanced by slightly less favorable valuation multiples.
HMS
SEK 419.00
HMS Networks
7D
1.5%
1Y
-0.8%

HMS: Acquisition-Led Expansion Will Drive Stronger Long-Term Earnings Power

Analysts have modestly reduced their price target on HMS Networks, trimming fair value from SEK 575 to SEK 545. Slightly higher discount rates and a lower projected future P E multiple offset marginally stronger expectations for revenue growth, while profit margins are expected to remain broadly unchanged.
SINCH
SEK 31.47
Sinch
7D
3.0%
1Y
50.4%

SINCH: Share Buybacks And Margin Expansion Will Drive Stronger Future Upside

Analysts have modestly trimmed their price target on Sinch, reflecting a slight recalibration of discount rate assumptions and future earnings multiples. At the same time, long term revenue growth and profit margin forecasts have edged higher, leaving the updated fair value estimate essentially unchanged at SEK 46.00.
VERT B
SEK 67.40
Vertiseit
7D
-2.0%
1Y
23.0%

Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
YUBICO
SEK 76.42
Yubico
7D
-0.6%
1Y
-66.8%

YUBICO Hardware Security Keys Will Drive Long-Term Profitability Rebound Ahead

Analysts have reduced their price target on Yubico from $190 to $145 as they grow more cautious on valuation and profitability, despite slightly stronger expectations for revenue growth. Analyst Commentary While some firms are turning more cautious, other bullish analysts continue to highlight structural strengths in Yubico’s business model and long term growth profile.
ERIC B
SEK 90.60
Telefonaktiebolaget LM Ericsson
7D
1.0%
1Y
-0.4%

ERIC B Will Benefit From Emerging European Shift Away From Chinese 5G Vendors

The analyst fair value estimate for Telefonaktiebolaget LM Ericsson has been raised from SEK 99.00 to SEK 106.00, as analysts factor in higher sector price targets and modestly improved long term earnings visibility, despite tempered expectations for revenue growth and profit margins. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson has turned incrementally more constructive, with several bullish analysts lifting their price targets in response to improving fundamentals and clearer earnings visibility.
TOBII
SEK 2.16
Tobii
7D
-6.1%
1Y
-7.6%

A Piece Of The Puzzle Missing From Tobii AB (publ)'s (STO:TOBII) 30% Share Price Climb

Dec 16
A Piece Of The Puzzle Missing From Tobii AB (publ)'s (STO:TOBII) 30% Share Price Climb
HANZA
SEK 127.20
Hanza
7D
3.8%
1Y
62.0%

HANZA: Defense Manufacturing Expansion And Property Acquisition Will Shape Balanced Outlook

Analysts have raised their price target for Hanza to SEK 120.25 from SEK 120.00, reflecting slightly improved long term assumptions regarding the discount rate, revenue growth, profit margin, and forward P/E. What's in the News Extraordinary General Meeting on November 21, 2025 to decide on share issue authorization for the BMK acquisition and amendments to the articles of association, including confirmation of updated capital and share limits (company EGM notice and resolutions).
SKOLON
SEK 29.00
Skolon
7D
-7.1%
1Y
-5.5%

After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar

Dec 13
After Leaping 32% Skolon AB (publ) (STO:SKOLON) Shares Are Not Flying Under The Radar
NTEK B
SEK 81.40
Novotek
7D
-2.6%
1Y
8.5%
EXS
SEK 153.00
Exsitec Holding
7D
-1.3%
1Y
10.1%

Earnings Beat: Exsitec Holding AB (publ) Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models

Oct 28
Earnings Beat: Exsitec Holding AB (publ) Just Beat Analyst Forecasts, And Analysts Have Been Updating Their Models
QBNK
SEK 6.75
QBNK Holding
7D
-23.3%
1Y
n/a