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Swedish (OMX) Tech Sector Analysis

UpdatedDec 14, 2025
DataAggregated Company Financials
Companies140
  • 7D-1.2%
  • 3M2.4%
  • 1Y-4.0%
  • YTD-3.9%

Over the last 7 days, the Tech industry has dropped 1.2%, driven by a pullback from Hexagon of 2.2%. On the other hand Sinch is actually up 7.7%. However, the industry is down 4.0% over the past year. As for the next few years, earnings are expected to grow by 11% per annum.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sun, 14 Dec 2025SEK 859.1bSEK 450.1bSEK 35.8b26.2x24x1.9x
Tue, 11 Nov 2025SEK 898.3bSEK 451.2bSEK 35.8b26.6x25.1x2x
Thu, 09 Oct 2025SEK 874.6bSEK 457.6bSEK 25.2b28.8x34.7x1.9x
Sat, 06 Sep 2025SEK 844.6bSEK 457.7bSEK 25.2b29.6x33.6x1.8x
Mon, 04 Aug 2025SEK 820.4bSEK 458.8bSEK 25.7b29x31.9x1.8x
Wed, 02 Jul 2025SEK 884.0bSEK 464.7bSEK 11.0b25.7x80.5x1.9x
Fri, 30 May 2025SEK 888.3bSEK 463.7bSEK 10.3b25.4x86.2x1.9x
Sun, 27 Apr 2025SEK 852.1bSEK 463.0bSEK 10.7b25.5x79.3x1.8x
Tue, 25 Mar 2025SEK 934.7bSEK 461.1bSEK 11.1b26.2x84.3x2x
Thu, 20 Feb 2025SEK 1.0tSEK 461.6bSEK 4.7b27.4x214.5x2.2x
Sat, 18 Jan 2025SEK 958.5bSEK 464.3bSEK 3.2b25.2x299.8x2.1x
Mon, 16 Dec 2024SEK 930.4bSEK 465.2bSEK 3.2b24.9x287.8x2x
Wed, 13 Nov 2024SEK 879.3bSEK 464.1bSEK 3.3b23.6x267.7x1.9x
Fri, 11 Oct 2024SEK 862.7bSEK 464.5b-SEK 27,422,998,648.4328.2x-31.5x1.9x
Sun, 08 Sep 2024SEK 835.8bSEK 464.9b-SEK 27,419,703,896.2427.6x-30.5x1.8x
Tue, 06 Aug 2024SEK 805.9bSEK 465.3b-SEK 27,428,879,296.3323.8x-29.4x1.7x
Thu, 04 Jul 2024SEK 877.7bSEK 467.3b-SEK 17,962,130,486.0429x-48.9x1.9x
Sat, 01 Jun 2024SEK 864.6bSEK 468.0b-SEK 17,563,338,813.3727.9x-49.2x1.8x
Mon, 29 Apr 2024SEK 844.2bSEK 474.1b-SEK 17,247,290,000.6327x-48.9x1.8x
Wed, 27 Mar 2024SEK 870.3bSEK 482.7b-SEK 18,711,741,297.1928.7x-46.5x1.8x
Fri, 23 Feb 2024SEK 839.7bSEK 482.8b-SEK 17,883,020,486.3329.2x-47x1.7x
Sun, 21 Jan 2024SEK 814.2bSEK 495.3b-SEK 16,245,048,870.0031.1x-50.1x1.6x
Tue, 19 Dec 2023SEK 847.7bSEK 494.7b-SEK 16,326,120,979.0027.8x-51.9x1.7x
Thu, 16 Nov 2023SEK 717.8bSEK 496.7b-SEK 16,290,254,194.0027.3x-44.1x1.4x
Sat, 14 Oct 2023SEK 707.2bSEK 499.3bSEK 17.2b21.6x41x1.4x
Mon, 11 Sep 2023SEK 708.3bSEK 502.0bSEK 17.6b23.5x40.3x1.4x
Wed, 09 Aug 2023SEK 736.4bSEK 500.0bSEK 17.4b23.8x42.4x1.5x
Fri, 07 Jul 2023SEK 813.9bSEK 496.2bSEK 23.7b23.1x34.4x1.6x
Sun, 04 Jun 2023SEK 839.4bSEK 493.7bSEK 23.5b23.1x35.8x1.7x
Tue, 02 May 2023SEK 810.9bSEK 488.5bSEK 23.5b26x34.6x1.7x
Thu, 30 Mar 2023SEK 795.1bSEK 478.4bSEK 24.2b27.2x32.9x1.7x
Sat, 25 Feb 2023SEK 791.0bSEK 452.2bSEK 23.9b27.1x33.1x1.7x
Mon, 23 Jan 2023SEK 808.1bSEK 429.2bSEK 30.4b27.7x26.5x1.9x
Wed, 21 Dec 2022SEK 768.3bSEK 428.7bSEK 30.4b25x25.3x1.8x
Price to Earnings Ratio

25.3x


Total Market Cap: SEK 768.3bTotal Earnings: SEK 30.4bTotal Revenue: SEK 428.7bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.7x202320242025
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 24.0x 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 5.6% 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-0.46%
Tech-1.24%
Software1.72%
Semiconductors0.25%
IT-0.067%
Communications-1.29%
Electronic Equipment and Components-1.73%
Tech Hardware-3.47%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 35.1x.
    • Analysts are expecting annual earnings growth of 19.5%, which is higher than its past year's earnings decline of 7.5% 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 8.9% 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
SINCH SinchSEK 31.057.7%
+SEK 1.8b		46.5%PS0.9x
SEYE Smart EyeSEK 74.306.8%
+SEK 180.3m		24.0%PS7.4x
BRIX BrioxSEK 18.3514.7%
+SEK 174.9m		236.7%PS50.6x
LAGR B Lagercrantz GroupSEK 215.200.3%
+SEK 123.7m		-0.3%PE40.4x
KNOW KnowitSEK 115.603.2%
+SEK 98.3m		-20.2%PE32.4x

Latest News

SKOLON
SEK 34.20
Skolon
7D
10.7%
1Y
13.2%

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
HMS
SEK 444.00
HMS Networks
7D
-2.5%
1Y
3.4%

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

Analysts have trimmed their price target on HMS Networks by SEK 20 to SEK 575, reflecting slightly more cautious assumptions on revenue growth and profit margins, while also applying a marginally lower discount rate and a modestly higher future P E multiple. What's in the News HMS Networks plans to actively pursue further acquisitions, aiming to drive roughly half of its future growth through M&A and half through organic expansion (company presentation).
DYVOX
SEK 94.10
Dynavox Group
7D
-4.6%
1Y
62.0%

DYVOX: Future Margins And Cash Flows Will Support Fairly Valued Shares

Analysts have modestly trimmed their price target on Dynavox Group by SEK 2.00 to SEK 107.00. This reflects slightly lower long term revenue growth assumptions, partially offset by expectations for improved profit margins and a still supportive, though marginally lower, future valuation multiple.
SINCH
SEK 31.05
Sinch
7D
7.7%
1Y
46.5%

SINCH: Share Buybacks Will Support Stronger Future Earnings Per Share

Analysts have modestly raised their price target for Sinch from $44.00 to $46.00, citing a slightly higher long term valuation multiple, despite marginally softer assumptions for revenue growth and profit margins. What's in the News Completed share buyback of 15,279,642 shares, equal to 1.81% of outstanding capital, for a total consideration of SEK 519 million under the program announced on August 12, 2025 (company disclosure) The buyback window ran from July 24, 2025 to September 30, 2025, signaling continued capital return to shareholders and management confidence in the equity valuation (company disclosure) The finalization of the SEK 519 million repurchase provides incremental support to earnings per share metrics through a lower share count in future reporting periods (company disclosure) Valuation Changes Fair Value: risen slightly from SEK 44.0 to SEK 46.0, reflecting a modestly higher long term valuation.
LAGR B
SEK 215.20
Lagercrantz Group
7D
0.3%
1Y
-0.3%
ERIC B
SEK 89.12
Telefonaktiebolaget LM Ericsson
7D
-1.2%
1Y
-1.9%

ERIC B: Evolving 5G Bans And New Contracts Will Shape Risk Reward Balance

Analysts have nudged up their price target on Telefonaktiebolaget LM Ericsson by SEK 5 to SEK 95, citing higher post Q3 revenue and margin expectations while maintaining a generally cautious stance on the shares. Analyst Commentary Recent target price revisions reflect a more constructive view on Ericsson's near term execution, tempered by lingering concerns over its longer term growth profile and industry headwinds.
HEXA B
SEK 108.50
Hexagon
7D
-2.2%
1Y
1.5%

HEXA B: Rating Shifts And Execution Will Shape Balanced Near-Term Share Outlook

The analyst price target for Hexagon has been raised modestly, supported by analysts highlighting incremental improvements in long term revenue growth and profitability expectations, despite a slightly higher discount rate. Analyst Commentary Recent Street research paints a mixed but generally constructive picture, with incremental target price increases and rating adjustments reflecting debate around Hexagon's risk reward profile.
KNOW
SEK 115.60
Knowit
7D
3.2%
1Y
-20.2%

KNOW: New Public Contracts Will Drive Stronger Digital Sector Expansion Ahead

Analysts have issued a slightly revised price target for Knowit, maintaining it at SEK 148.67. They cite minor adjustments in discount rate and valuation metrics while reaffirming their outlook on the company's profitability and growth prospects.
HANZA
SEK 118.40
Hanza
7D
-3.1%
1Y
58.9%

HANZA: Defense Expansion And Steady Financial Metrics Will Shape Outlook Ahead

Analysts have revised Hanza's price target, maintaining it at $120.25. Recent assessments indicate stable growth prospects and valuation metrics, despite minor adjustments in market assumptions.
MYCR
SEK 218.70
Mycronic
7D
-0.4%
1Y
7.3%

MYCR: Growing Asian Orders And Margins Will Support Measured Gains Through 2025

Analysts have slightly increased their price target for Mycronic to SEK 218.67 from SEK 217.33. They cite improved revenue growth expectations and a marginally higher projected profit margin.
SEYE
SEK 74.30
Smart Eye
7D
6.8%
1Y
24.0%
NCAB
SEK 51.95
NCAB Group
7D
-3.2%
1Y
-19.2%

With NCAB Group AB (publ) (STO:NCAB) It Looks Like You'll Get What You Pay For

Nov 18
With NCAB Group AB (publ) (STO:NCAB) It Looks Like You'll Get What You Pay For
SDS
SEK 10.10
Seamless Distribution Systems
7D
27.8%
1Y
34.7%

Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge

Nov 06
Why Investors Shouldn't Be Surprised By Seamless Distribution Systems AB (publ)'s (NGM:SDS) 27% Share Price Plunge
LIME
SEK 310.50
Lime Technologies
7D
-3.7%
1Y
-9.9%

Lime Technologies (STO:LIME) Has Announced A Dividend Of SEK2.00

Oct 28
Lime Technologies (STO:LIME) Has Announced A Dividend Of SEK2.00
PACT
SEK 110.00
Proact IT Group
7D
2.0%
1Y
-17.2%
BRIX
SEK 18.35
Briox
7D
14.7%
1Y
236.7%

Will Briox (NGM:BRIX) Spend Its Cash Wisely?

Sep 10
Will Briox (NGM:BRIX) Spend Its Cash Wisely?