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Swedish (OMX) Tech Sector Analysis

UpdatedMar 08, 2026
DataAggregated Company Financials
Companies135
  • 7D-2.4%
  • 3M-2.0%
  • 1Y-7.7%
  • YTD0.5%

Over the last 7 days, the Tech industry has dropped 2.4%, driven by a pullback from Hexagon of 4.3%. On the other hand Hanza is actually up 5.9%. Overall the industry is down 7.7% in 12 months. Looking forward, earnings are forecast to grow by 8.0% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 08 Mar 2026SEK 847.7bSEK 441.1bSEK 34.9b23.2x24.3x1.9x
Tue, 03 Feb 2026SEK 852.1bSEK 444.3bSEK 38.7b25.5x22x1.9x
Thu, 01 Jan 2026SEK 865.9bSEK 448.7bSEK 35.7b27.4x24.3x1.9x
Sat, 29 Nov 2025SEK 873.2bSEK 451.4bSEK 35.8b27x24.4x1.9x
Mon, 27 Oct 2025SEK 923.4bSEK 451.7bSEK 29.4b28.5x31.5x2x
Wed, 24 Sep 2025SEK 876.8bSEK 457.8bSEK 25.2b30.4x34.9x1.9x
Fri, 22 Aug 2025SEK 836.1bSEK 458.5bSEK 25.5b30.4x32.8x1.8x
Sun, 20 Jul 2025SEK 880.5bSEK 461.0bSEK 26.9b28.6x32.7x1.9x
Tue, 17 Jun 2025SEK 868.5bSEK 464.3bSEK 10.7b25.4x81.5x1.9x
Thu, 15 May 2025SEK 890.6bSEK 462.3bSEK 10.1b27.1x88.2x1.9x
Sat, 12 Apr 2025SEK 781.4bSEK 461.9bSEK 9.1b23.8x86.2x1.7x
Mon, 10 Mar 2025SEK 953.5bSEK 461.3bSEK 11.4b26.6x83.6x2.1x
Wed, 05 Feb 2025SEK 988.2bSEK 464.7bSEK 4.8b24.7x204.3x2.1x
Fri, 03 Jan 2025SEK 930.2bSEK 464.9bSEK 3.3b25.9x284.6x2x
Sun, 01 Dec 2024SEK 869.7bSEK 464.9bSEK 3.3b25.4x266.3x1.9x
Tue, 29 Oct 2024SEK 942.9bSEK 463.4bSEK 9.4b25.7x99.9x2x
Thu, 26 Sep 2024SEK 868.4bSEK 464.4b-SEK 27,429,496,113.5727.6x-31.7x1.9x
Sat, 24 Aug 2024SEK 863.0bSEK 464.6b-SEK 27,505,881,611.8626.4x-31.4x1.9x
Mon, 22 Jul 2024SEK 879.1bSEK 465.6b-SEK 27,417,241,470.7126x-32.1x1.9x
Wed, 19 Jun 2024SEK 859.5bSEK 466.9b-SEK 18,044,602,928.3528.4x-47.6x1.8x
Fri, 17 May 2024SEK 869.1bSEK 472.4b-SEK 17,391,754,243.8228x-50x1.8x
Sun, 14 Apr 2024SEK 840.1bSEK 482.4b-SEK 18,669,126,032.4328x-45x1.7x
Tue, 12 Mar 2024SEK 859.9bSEK 482.1b-SEK 19,151,067,182.9226.5x-44.9x1.8x
Thu, 08 Feb 2024SEK 816.2bSEK 480.7b-SEK 19,197,253,160.2831.4x-42.5x1.7x
Sat, 06 Jan 2024SEK 830.1bSEK 495.0b-SEK 16,298,707,795.0030.6x-50.9x1.7x
Mon, 04 Dec 2023SEK 737.1bSEK 495.3b-SEK 16,263,728,760.0029.6x-45.3x1.5x
Wed, 01 Nov 2023SEK 652.1bSEK 498.8b-SEK 20,794,139,130.0023.3x-31.4x1.3x
Fri, 29 Sep 2023SEK 686.4bSEK 499.7bSEK 17.3b22.4x39.7x1.4x
Sun, 27 Aug 2023SEK 700.6bSEK 501.9bSEK 17.6b24.7x39.9x1.4x
Tue, 25 Jul 2023SEK 775.7bSEK 497.6bSEK 17.4b25x44.7x1.6x
Thu, 22 Jun 2023SEK 828.2bSEK 495.3bSEK 23.6b22.7x35.1x1.7x
Sat, 20 May 2023SEK 820.9bSEK 492.3bSEK 23.6b25.8x34.8x1.7x
Mon, 17 Apr 2023SEK 827.3bSEK 478.5bSEK 24.2b27.9x34.3x1.7x
Wed, 15 Mar 2023SEK 793.0bSEK 453.4bSEK 23.8b27.2x33.3x1.7x
Price to Earnings Ratio

33.3x


Total Market Cap: SEK 793.0bTotal Earnings: SEK 23.8bTotal Revenue: SEK 453.4bTotal 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 24.3x 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 14% 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-5.13%
Tech-2.40%
Semiconductors8.54%
Software2.57%
Tech Hardware-0.20%
IT-1.75%
Communications-1.75%
Electronic Equipment and Components-3.83%
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 15.6%, 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
HANZA HanzaSEK 165.205.9%
+SEK 579.2m		100.6%PE42.3x
SINCH SinchSEK 23.562.6%
+SEK 445.8m		1.2%PE83.2x
LIME Lime TechnologiesSEK 216.5017.8%
+SEK 435.7m		-45.3%PE25.8x
VIT B Vitec Software GroupSEK 248.804.0%
+SEK 382.9m		-56.4%PE22.8x
TRUE B TruecallerSEK 12.139.5%
+SEK 326.6m		-83.5%PE10.4x

Latest News

ERIC B
SEK 103.00
Telefonaktiebolaget LM Ericsson
7D
-1.5%
1Y
18.6%

ERIC B: Alliance Partnerships And Modest Re Rating Will Support Balanced Outlook

Analysts have nudged their price targets on Telefonaktiebolaget LM Ericsson slightly higher, with recent increases of SEK 1 to SEK 3 supported by updated assumptions around the discount rate, modest revenue growth expectations, and a future P/E of about 16.8x. Analyst Commentary Recent Street research on Telefonaktiebolaget LM Ericsson has centered on gradual adjustments to price targets, with bullish analysts fine tuning their models rather than making sweeping changes.
LIME
SEK 216.50
Lime Technologies
7D
17.8%
1Y
-45.3%
HEXA B
SEK 98.48
Hexagon
7D
-4.3%
1Y
-17.3%

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.
HANZA
SEK 165.20
Hanza
7D
5.9%
1Y
100.6%

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).
SIVE
SEK 3.60
Sivers Semiconductors
7D
19.0%
1Y
-13.3%
NEO B
SEK 7.02
Neovici Holding
7D
17.4%
1Y
-12.1%
LAGR B
SEK 208.80
Lagercrantz Group
7D
-5.4%
1Y
-3.7%
SEYE
SEK 55.70
Smart Eye
7D
-7.3%
1Y
9.2%
TRUE B
SEK 12.13
Truecaller
7D
9.5%
1Y
-83.5%

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 399.20
HMS Networks
7D
-6.3%
1Y
-14.7%

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 201.35
Mycronic
7D
-1.9%
1Y
-6.0%

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).
CINT
SEK 3.93
Cint Group
7D
13.8%
1Y
-41.7%
VIT B
SEK 248.80
Vitec Software Group
7D
4.0%
1Y
-56.4%

VIT B: Higher Future P/E And Buybacks Will Likely Support Stronger Share Price

Analysts have trimmed their price target on Vitec Software Group from SEK 450 to SEK 400, citing more cautious assumptions on revenue growth, profit margins and discount rate. At the same time, they are factoring in a higher future P/E multiple supported by recent research such as the SEB Equities upgrade.
SINCH
SEK 23.56
Sinch
7D
2.6%
1Y
1.2%
NCAB
SEK 53.55
NCAB Group
7D
-2.4%
1Y
8.8%
BERNER B
SEK 103.00
Berner Industrier
7D
-7.2%
1Y
159.4%