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Swedish (OMX) Tech Sector Analysis

UpdatedFeb 28, 2026
DataAggregated Company Financials
Companies136
  • 7D2.8%
  • 3M-0.4%
  • 1Y-7.8%
  • YTD3.0%

Hexagon is up 3.3%, leading the way for the Tech industry, which has gained 1.4%. Meanwhile, Done.ai Group actually underperformed within the industry, shrinking 23% in the last week. In the past year, the industry is down 10%. Earnings are forecast to grow by 8.6% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Sat, 28 Feb 2026SEK 868.5bSEK 441.2bSEK 34.9b22.5x24.9x2x
Mon, 26 Jan 2026SEK 846.7bSEK 444.4bSEK 39.3b25.2x21.6x1.9x
Wed, 24 Dec 2025SEK 852.2bSEK 448.7bSEK 35.6b27.3x23.9x1.9x
Fri, 21 Nov 2025SEK 863.4bSEK 451.5bSEK 35.9b26x24.1x1.9x
Sun, 19 Oct 2025SEK 883.5bSEK 452.2bSEK 32.6b28.2x27.1x2x
Tue, 16 Sep 2025SEK 840.2bSEK 457.2bSEK 25.0b30.3x33.6x1.8x
Thu, 14 Aug 2025SEK 837.7bSEK 458.6bSEK 25.7b30.4x32.6x1.8x
Sat, 12 Jul 2025SEK 900.9bSEK 464.2bSEK 10.9b26.7x82.6x1.9x
Mon, 09 Jun 2025SEK 892.4bSEK 464.4bSEK 10.7b25.5x83.4x1.9x
Wed, 07 May 2025SEK 854.5bSEK 461.5bSEK 10.0b26.6x85.1x1.9x
Fri, 04 Apr 2025SEK 849.3bSEK 460.2bSEK 8.8b25x96.8x1.8x
Sun, 02 Mar 2025SEK 979.8bSEK 462.8bSEK 11.4b26.4x85.7x2.1x
Tue, 28 Jan 2025SEK 956.3bSEK 465.2bSEK 4.6b26.3x209.1x2.1x
Thu, 26 Dec 2024SEK 917.1bSEK 465.5bSEK 3.2b24.9x283.7x2x
Sat, 23 Nov 2024SEK 864.8bSEK 463.9bSEK 3.4b23.6x257.8x1.9x
Mon, 21 Oct 2024SEK 900.0bSEK 462.9bSEK 7.0b27.1x128.6x1.9x
Wed, 18 Sep 2024SEK 847.7bSEK 464.3b-SEK 27,439,150,534.6527.8x-30.9x1.8x
Fri, 16 Aug 2024SEK 849.9bSEK 465.4b-SEK 27,337,017,603.6627x-31.1x1.8x
Sun, 14 Jul 2024SEK 905.3bSEK 464.9b-SEK 28,179,751,338.1129x-32.1x1.9x
Tue, 11 Jun 2024SEK 876.3bSEK 467.4b-SEK 18,012,476,475.5727.8x-48.6x1.9x
Thu, 09 May 2024SEK 850.4bSEK 473.0b-SEK 17,153,607,930.3227.3x-49.6x1.8x
Sat, 06 Apr 2024SEK 843.2bSEK 483.0b-SEK 18,688,692,728.3928.2x-45.1x1.7x
Mon, 04 Mar 2024SEK 859.7bSEK 482.0b-SEK 19,314,501,979.2726.1x-44.5x1.8x
Wed, 31 Jan 2024SEK 823.3bSEK 480.5b-SEK 19,044,754,535.0031.3x-43.2x1.7x
Fri, 29 Dec 2023SEK 857.4bSEK 494.0b-SEK 16,384,397,256.0030.4x-52.3x1.7x
Sun, 26 Nov 2023SEK 731.5bSEK 497.1b-SEK 16,178,837,873.0027.7x-45.2x1.5x
Tue, 24 Oct 2023SEK 658.9bSEK 497.0b-SEK 18,497,414,620.0022.7x-35.6x1.3x
Thu, 21 Sep 2023SEK 705.6bSEK 501.7bSEK 17.5b22.1x40.3x1.4x
Sat, 19 Aug 2023SEK 712.2bSEK 501.5bSEK 17.5b22.8x40.7x1.4x
Mon, 17 Jul 2023SEK 781.8bSEK 496.5bSEK 18.3b24.6x42.8x1.6x
Wed, 14 Jun 2023SEK 854.2bSEK 493.8bSEK 23.5b23.3x36.4x1.7x
Fri, 12 May 2023SEK 798.7bSEK 491.2bSEK 23.4b25.4x34.1x1.6x
Sun, 09 Apr 2023SEK 820.4bSEK 479.7bSEK 24.2b26.8x33.8x1.7x
Tue, 07 Mar 2023SEK 822.2bSEK 452.9bSEK 23.9b28.9x34.4x1.8x
Price to Earnings Ratio

34.4x


Total Market Cap: SEK 822.2bTotal Earnings: SEK 23.9bTotal Revenue: SEK 452.9bTotal Market Cap vs Earnings and Revenue0%0%0%
Swedish Tech Sector Price to Earnings3Y Average 38.4x202420252026
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 23.1x which is lower than its 3-year average PE of 38.4x.
  • 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 16% 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 Market1.14%
Tech2.77%
Electronic Equipment and Components3.45%
Communications2.77%
Semiconductors2.66%
Tech Hardware1.54%
IT0.14%
Software-0.58%
Industry PE
  • Investors are most optimistic about the Software industry which is trading above its 3-year average PE ratio.
    • Analysts are expecting annual earnings growth of 32.4%, which is higher than its past year's earnings growth of 13.8% 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 4.9% 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
HEXA B HexagonSEK 102.903.3%
+SEK 8.8b		-16.0%PE42x
ERIC B Telefonaktiebolaget LM EricssonSEK 104.552.4%
+SEK 8.3b		18.6%PE12.3x
HMS HMS NetworksSEK 426.207.8%
+SEK 1.5b		-12.6%PE49.2x
MYCR MycronicSEK 205.303.7%
+SEK 1.4b		-9.5%PE25.7x
HANZA HanzaSEK 156.0016.2%
+SEK 1.4b		92.9%PE39.9x

Latest News

NOTE
SEK 196.70
NOTE
7D
6.7%
1Y
27.1%
DONE
SEK 9.36
Done.ai Group
7D
-22.6%
1Y
-51.9%
HANZA
SEK 156.00
Hanza
7D
16.2%
1Y
92.9%
LAGR B
SEK 220.80
Lagercrantz Group
7D
3.0%
1Y
-2.3%
ERIC B
SEK 104.55
Telefonaktiebolaget LM Ericsson
7D
2.4%
1Y
18.6%
SKOLON
SEK 20.40
Skolon
7D
-16.7%
1Y
-30.4%
HMS
SEK 426.20
HMS Networks
7D
7.8%
1Y
-12.6%

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 205.30
Mycronic
7D
3.7%
1Y
-9.5%

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).
VIT B
SEK 239.20
Vitec Software Group
7D
-1.6%
1Y
-60.2%

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.
DUST
SEK 1.50
Dustin Group
7D
-4.7%
1Y
-61.5%
YUBICO
SEK 51.06
Yubico
7D
-2.9%
1Y
-77.2%

YUBICO: Expanded Security Accreditation In Spain Will Support Future Upside

Analysts have revised their SEK 108.00 price target on Yubico to SEK 78.33. The change reflects updated views on fair value, discount rate, revenue growth, profit margin and future P/E assumptions.
SINCH
SEK 22.97
Sinch
7D
3.2%
1Y
-3.1%
ADVE
SEK 15.24
Advenica
7D
-9.3%
1Y
12.9%
HEXA B
SEK 102.90
Hexagon
7D
3.3%
1Y
-16.0%

HEXA B: Refined Assumptions Will Support Future Share Outperformance Despite SEK 5 Trim

Analysts have lowered their Hexagon price target by SEK 5, reflecting updated views on fair value, the discount rate, and long-term assumptions on revenue growth, profit margins, and future P/E multiples. Analyst Commentary Bullish analysts see the SEK 5 adjustment to the Hexagon price target as a fine tuning of assumptions rather than a shift in overall conviction.
BRIX
SEK 19.40
Briox
7D
-9.3%
1Y
331.1%

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Feb 13
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BERNER B
SEK 111.00
Berner Industrier
7D
-3.1%
1Y
174.8%