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Swedish (OMX) Tech Sector Analysis

UpdatedDec 25, 2025
DataAggregated Company Financials
Companies139
  • 7D0.1%
  • 3M2.0%
  • 1Y-3.2%
  • YTD-4.5%

Over the last 7 days, the Tech industry has remained flat. As for the longer term, the industry has declined 3.2% in the last year. Earnings are forecast to grow by 11% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Fri, 26 Dec 2025SEK 852.5bSEK 448.6bSEK 35.6b27.3x23.9x1.9x
Sun, 23 Nov 2025SEK 859.1bSEK 451.4bSEK 35.9b26.3x23.9x1.9x
Tue, 21 Oct 2025SEK 890.4bSEK 452.2bSEK 32.6b28.1x27.3x2x
Thu, 18 Sep 2025SEK 842.5bSEK 457.6bSEK 25.1b30.7x33.6x1.8x
Sat, 16 Aug 2025SEK 834.7bSEK 458.5bSEK 25.6b30.2x32.6x1.8x
Mon, 14 Jul 2025SEK 889.3bSEK 464.8bSEK 11.2b26.5x79.6x1.9x
Wed, 11 Jun 2025SEK 889.4bSEK 464.3bSEK 10.7b26.5x83.5x1.9x
Fri, 09 May 2025SEK 859.5bSEK 462.0bSEK 10.2b25.6x84.5x1.9x
Sun, 06 Apr 2025SEK 826.1bSEK 461.4bSEK 9.0b24.3x92x1.8x
Tue, 04 Mar 2025SEK 982.9bSEK 462.1bSEK 11.3b26.6x86.9x2.1x
Thu, 30 Jan 2025SEK 958.3bSEK 465.1bSEK 4.5b25.9x211.5x2.1x
Sat, 28 Dec 2024SEK 923.2bSEK 465.2bSEK 3.2b25x288.8x2x
Mon, 25 Nov 2024SEK 864.8bSEK 463.9bSEK 3.4b23.6x254.6x1.9x
Wed, 23 Oct 2024SEK 894.7bSEK 462.6bSEK 7.0b26.5x128.2x1.9x
Fri, 20 Sep 2024SEK 865.3bSEK 464.4b-SEK 27,430,571,472.3928.1x-31.5x1.9x
Sun, 18 Aug 2024SEK 852.4bSEK 464.8b-SEK 27,532,986,324.7326.1x-31x1.8x
Tue, 16 Jul 2024SEK 884.6bSEK 465.3b-SEK 28,150,643,690.2828.8x-31.4x1.9x
Thu, 13 Jun 2024SEK 867.1bSEK 467.1b-SEK 18,039,513,498.1727.7x-48.1x1.9x
Sat, 11 May 2024SEK 858.1bSEK 472.7b-SEK 17,171,712,925.3827.6x-50x1.8x
Mon, 08 Apr 2024SEK 843.6bSEK 483.0b-SEK 18,688,692,728.3928.2x-45.1x1.7x
Wed, 06 Mar 2024SEK 842.3bSEK 482.5b-SEK 19,284,553,337.5927.1x-43.7x1.7x
Fri, 02 Feb 2024SEK 821.0bSEK 480.9b-SEK 19,189,566,605.0032.2x-42.8x1.7x
Sun, 31 Dec 2023SEK 857.8bSEK 494.5b-SEK 16,342,005,402.0030.3x-52.5x1.7x
Tue, 28 Nov 2023SEK 730.9bSEK 496.9b-SEK 16,334,301,049.0028.1x-44.7x1.5x
Thu, 26 Oct 2023SEK 662.7bSEK 497.4b-SEK 18,455,556,347.0022.4x-35.9x1.3x
Sat, 23 Sep 2023SEK 697.8bSEK 501.7bSEK 17.5b21.2x39.9x1.4x
Mon, 21 Aug 2023SEK 712.2bSEK 501.6bSEK 17.5b23.4x40.7x1.4x
Wed, 19 Jul 2023SEK 755.5bSEK 496.5bSEK 18.3b23.7x41.4x1.5x
Fri, 16 Jun 2023SEK 853.2bSEK 494.3bSEK 23.4b23.2x36.5x1.7x
Sun, 14 May 2023SEK 802.5bSEK 491.2bSEK 23.4b25.1x34.4x1.6x
Tue, 11 Apr 2023SEK 820.4bSEK 479.8bSEK 24.2b26.8x33.8x1.7x
Thu, 09 Mar 2023SEK 816.5bSEK 453.8bSEK 23.9b28.1x34.1x1.8x
Sat, 04 Feb 2023SEK 859.3bSEK 448.4bSEK 28.0b28.2x30.6x1.9x
Mon, 02 Jan 2023SEK 770.9bSEK 429.2bSEK 30.5b27.4x25.3x1.8x
Price to Earnings Ratio

25.3x


Total Market Cap: SEK 770.9bTotal Earnings: SEK 30.5bTotal Revenue: SEK 429.2bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.7x20242025
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 23.9x 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 Market0.69%
Tech0.12%
Semiconductors5.41%
Tech Hardware4.56%
Electronic Equipment and Components0.54%
IT-0.068%
Communications-0.45%
Software-0.53%
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 9.1% 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
MYCR MycronicSEK 219.551.4%
+SEK 576.0m		9.1%PE24.6x
LAGR B Lagercrantz GroupSEK 211.401.2%
+SEK 535.9m		-0.4%PE39.7x
DYVOX Dynavox GroupSEK 103.704.9%
+SEK 518.4m		66.5%PE77.1x
HEXA B HexagonSEK 106.950.1%
+SEK 402.7m		1.2%PE39.5x
HANZA HanzaSEK 122.604.3%
+SEK 229.8m		63.0%PE28x

Latest News

ANOD B
SEK 95.50
Addnode Group
7D
-1.4%
1Y
-8.0%

ANOD B: Ongoing M&A Activity Will Drive Future Upside Despite Integration Focus

Analysts have slightly reduced their price target for Addnode Group from SEK 132.25 to SEK 131.00, reflecting marginally higher discount rate assumptions and slightly softer long term growth and margin expectations. What's in the News Addnode Group continues to pursue acquisitions, with management confirming it is actively looking for new targets despite recently completing a major deal (company statement).
VERT B
SEK 68.80
Vertiseit
7D
12.1%
1Y
30.8%

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

Dec 24
Estimating The Fair Value Of Vertiseit AB (publ) (STO:VERT B)
ERIC B
SEK 89.74
Telefonaktiebolaget LM Ericsson
7D
-0.4%
1Y
0.6%

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.
HEXA B
SEK 106.95
Hexagon
7D
0.1%
1Y
1.2%

HEXA B: Rating Upgrade And Margin Delivery Will Drive Upside Potential

Hexagon's analyst price target has edged slightly lower to approximately SEK 120 from about SEK 121, as analysts factor in a marginally higher discount rate and slightly softer long term margin expectations despite a series of recent target hikes and one notable rating upgrade. Analyst Commentary Analysts remain divided on Hexagon, with recent target changes and rating moves reflecting a balance between confidence in the companys structural growth prospects and caution around valuation and execution risk.
TRUE B
SEK 19.08
Truecaller
7D
2.6%
1Y
-62.0%
FPIP
SEK 26.00
Formpipe Software
7D
-2.6%
1Y
15.6%
LIME
SEK 284.50
Lime Technologies
7D
-8.5%
1Y
-20.1%
SINCH
SEK 30.56
Sinch
7D
-2.2%
1Y
52.9%
VIT B
SEK 303.20
Vitec Software Group
7D
-1.2%
1Y
-43.0%
KNOW
SEK 113.40
Knowit
7D
-3.4%
1Y
-18.5%

KNOW: New Public Contracts Will Drive Future Digital Mobility Expansion

Analysts have nudged their price target on Knowit slightly higher to approximately $148.67 per share, reflecting modest improvements in discount rate assumptions, long term revenue growth expectations, and projected profitability and valuation multiples. What's in the News Signed a new three year agreement with Equinor to further develop and operate its Distributed Fiber Optic Sensing platform, expanding the use of DFOS technology across Equinor's energy and infrastructure portfolio (Key Developments).
HANZA
SEK 122.60
Hanza
7D
4.3%
1Y
63.0%

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).
MYCR
SEK 219.55
Mycronic
7D
1.4%
1Y
9.1%

MYCR: Expanding Asian Orders Will Support Steady Earnings And Balanced Prospects

Analysts have nudged their price target for Mycronic slightly higher to approximately SEK 219 per share, reflecting modestly increased discount rate and future P E assumptions, while maintaining a generally stable view on long term revenue growth and profitability. What's in the News Mycronic secured a new Asian customer for its SLX semiconductor mask writer, an energy efficient system with an order value between USD 5 million and 7 million, with revenue recognized in the current quarter (company announcement).
HMS
SEK 413.00
HMS Networks
7D
-0.9%
1Y
-6.0%

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 103.70
Dynavox Group
7D
4.9%
1Y
66.5%

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.
LAGR B
SEK 211.40
Lagercrantz Group
7D
1.2%
1Y
-0.4%
EPEN
SEK 112.20
Ependion
7D
3.5%
1Y
17.0%