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Swedish (OMX) Tech Sector Analysis

UpdatedMar 11, 2026
DataAggregated Company Financials
Companies135
  • 7D0.4%
  • 3M-1.3%
  • 1Y-3.5%
  • YTD0.3%

Over the last 7 days, the Tech industry has dropped 2.8%, driven by a pullback from Hexagon of 1.4%. The industry has fallen 8.0% in the last year. Looking forward, earnings are forecast to grow by 7.9% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 11 Mar 2026SEK 846.4bSEK 441.1bSEK 35.0b22.8x24.2x1.9x
Fri, 06 Feb 2026SEK 828.3bSEK 444.7bSEK 38.5b23.5x21.5x1.9x
Sun, 04 Jan 2026SEK 844.1bSEK 448.6bSEK 35.6b26.7x23.7x1.9x
Tue, 02 Dec 2025SEK 868.1bSEK 450.8bSEK 35.8b26.8x24.3x1.9x
Thu, 30 Oct 2025SEK 930.8bSEK 452.0bSEK 29.6b28.8x31.4x2.1x
Sat, 27 Sep 2025SEK 839.5bSEK 457.7bSEK 25.1b29.4x33.4x1.8x
Mon, 25 Aug 2025SEK 852.2bSEK 458.3bSEK 25.4b30.6x33.5x1.9x
Wed, 23 Jul 2025SEK 878.0bSEK 460.4bSEK 26.8b29.1x32.8x1.9x
Fri, 20 Jun 2025SEK 853.8bSEK 465.0bSEK 10.8b25.5x79.1x1.8x
Sun, 18 May 2025SEK 894.1bSEK 462.3bSEK 10.2b27.2x87.6x1.9x
Tue, 15 Apr 2025SEK 813.9bSEK 462.0bSEK 9.1b23.7x89.6x1.8x
Thu, 13 Mar 2025SEK 912.8bSEK 461.6bSEK 11.4b25.5x79.7x2x
Sat, 08 Feb 2025SEK 984.0bSEK 464.3bSEK 4.8b27x206.6x2.1x
Mon, 06 Jan 2025SEK 923.8bSEK 464.9bSEK 3.3b25x282.1x2x
Wed, 04 Dec 2024SEK 891.3bSEK 465.2bSEK 3.3b24.9x274.1x1.9x
Fri, 01 Nov 2024SEK 925.9bSEK 463.4bSEK 10.0b25.5x92.2x2x
Sun, 29 Sep 2024SEK 890.2bSEK 463.9b-SEK 27,406,603,000.7327.4x-32.5x1.9x
Tue, 27 Aug 2024SEK 865.2bSEK 464.7b-SEK 27,448,522,164.3326.6x-31.5x1.9x
Thu, 25 Jul 2024SEK 878.3bSEK 466.0b-SEK 27,434,311,755.6525.4x-32x1.9x
Sat, 22 Jun 2024SEK 866.0bSEK 467.0b-SEK 18,004,421,441.3928.2x-48.1x1.9x
Mon, 20 May 2024SEK 868.9bSEK 472.6b-SEK 17,383,915,845.7128.8x-50x1.8x
Wed, 17 Apr 2024SEK 839.6bSEK 482.6b-SEK 18,655,209,000.9626.7x-45x1.7x
Fri, 15 Mar 2024SEK 858.8bSEK 481.4b-SEK 18,817,269,503.6226.7x-45.6x1.8x
Sun, 11 Feb 2024SEK 823.6bSEK 481.4b-SEK 18,820,161,087.7731.3x-43.8x1.7x
Tue, 09 Jan 2024SEK 839.5bSEK 495.0b-SEK 16,304,626,178.0030.7x-51.5x1.7x
Thu, 07 Dec 2023SEK 774.8bSEK 495.4b-SEK 16,232,165,404.0029.3x-47.7x1.6x
Sat, 04 Nov 2023SEK 673.1bSEK 498.1b-SEK 20,940,334,827.0024.3x-32.1x1.4x
Mon, 02 Oct 2023SEK 693.5bSEK 499.8bSEK 17.3b22.4x40.1x1.4x
Wed, 30 Aug 2023SEK 716.8bSEK 501.5bSEK 17.5b23.2x40.9x1.4x
Fri, 28 Jul 2023SEK 749.2bSEK 498.6bSEK 17.2b24.4x43.6x1.5x
Sun, 25 Jun 2023SEK 818.3bSEK 494.9bSEK 23.5b22.7x34.8x1.7x
Tue, 23 May 2023SEK 822.4bSEK 492.6bSEK 23.6b25.2x34.9x1.7x
Thu, 20 Apr 2023SEK 807.3bSEK 486.7bSEK 22.8b27.7x35.4x1.7x
Sat, 18 Mar 2023SEK 775.7bSEK 453.0bSEK 23.8b26.8x32.6x1.7x
Price to Earnings Ratio

32.6x


Total Market Cap: SEK 775.7bTotal Earnings: SEK 23.8bTotal Revenue: SEK 453.0bTotal 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 23.9x 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 Market0.33%
Tech0.36%
Semiconductors13.77%
Software2.79%
Tech Hardware1.81%
Communications1.32%
IT0.36%
Electronic Equipment and Components-0.98%
Industry PE
  • Investors are most optimistic about the Electronic Equipment and Components industry which is trading above its 3-year average PE ratio of 37.1x.
    • 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 5.0% 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
ERIC B Telefonaktiebolaget LM EricssonSEK 104.351.4%
+SEK 4.7b		25.5%PE12.2x
MYCR MycronicSEK 203.851.5%
+SEK 585.8m		-3.0%PE25.5x
SINCH SinchSEK 22.501.9%
+SEK 329.4m		1.6%PE79.4x
VIT B Vitec Software GroupSEK 237.403.1%
+SEK 287.2m		-57.1%PE21.8x
LIME Lime TechnologiesSEK 211.009.9%
+SEK 253.2m		-44.4%PE25.2x

Latest News

SINCH
SEK 22.50
Sinch
7D
1.9%
1Y
1.6%

SINCH: Future Repricing Will Depend On Execution Of AI Agent Rollout

Sinch's updated fair value estimate has moved lower to SEK 32.21 from SEK 35.94. This reflects a reduced blended analyst price target as several firms trimmed or moderated their views on the stock, while one raised its target to SEK 29.
MYCR
SEK 203.85
Mycronic
7D
1.5%
1Y
-3.0%

MYCR: Asian Orders And 2026 Guidance Will Support Steady Dividend Outlook

Analysts have maintained their SEK 215.00 price target for Mycronic. This reflects minor adjustments to assumptions regarding the discount rate, long-term growth and P/E, which did not meaningfully change their overall view of the shares.
HMS
SEK 401.20
HMS Networks
7D
0.9%
1Y
-11.4%

HMS: I Expect Constructive Rating Upgrades To Support Future Share Performance

Analysts have lifted their HMS Networks fair value estimate from SEK 440 to SEK 483, reflecting updated assumptions on the discount rate, growth, margins and P/E following recent upgrades and more constructive research on the shares. Analyst Commentary Recent research on HMS Networks has turned more constructive, with several firms expressing greater confidence in the shares and aligning price targets closer to the updated SEK 483 fair value estimate.
SIVE
SEK 3.67
Sivers Semiconductors
7D
23.8%
1Y
-5.8%
VIT B
SEK 237.40
Vitec Software Group
7D
3.1%
1Y
-57.1%

VIT B: Firmer Margin Outlook Will Support Constructive Long Term Thesis

The analyst price target for Vitec Software Group has shifted from SEK 650 to about SEK 570. Analysts point to more moderate revenue growth assumptions and a higher discount rate, partly offset by slightly firmer profit margin expectations and a broadly similar future P/E outlook, as reflected in recent research updates including the upgrade at SEB Equities.
ERIC B
SEK 104.35
Telefonaktiebolaget LM Ericsson
7D
1.4%
1Y
25.5%

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 211.00
Lime Technologies
7D
9.9%
1Y
-44.4%
YUBICO
SEK 48.30
Yubico
7D
-4.4%
1Y
-76.7%

YUBICO: Global Security Expansion And Singapore Hub Will Drive Future Upside

Analysts have reduced their SEK price target for Yubico from about SEK 78 to roughly SEK 69, reflecting updated assumptions for slightly lower revenue growth, profit margins, and future P/E multiples. What's in the News Opened a third global headquarters in Singapore to serve as a center of excellence for supply chain, operations, sales, and administration across the Asia Pacific region, with a focus on hardware backed authentication and AI related security use cases (Key Developments).
FPIP
SEK 22.30
Formpipe Software
7D
-4.3%
1Y
-14.6%
LUMEN
SEK 56.30
LumenRadio
7D
-5.7%
1Y
-25.9%
HEXA B
SEK 97.54
Hexagon
7D
-1.4%
1Y
-12.6%

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 154.60
Hanza
7D
-4.6%
1Y
95.1%

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).
VERT B
SEK 58.40
Vertiseit
7D
12.3%
1Y
-5.8%
NOTE
SEK 187.10
NOTE
7D
-2.0%
1Y
14.5%
BERNER B
SEK 103.50
Berner Industrier
7D
-3.3%
1Y
168.8%
EPEN
SEK 96.80
Ependion
7D
-1.3%
1Y
-15.1%

Ependion (STO:EPEN) Will Pay A Larger Dividend Than Last Year At SEK1.50

Feb 03
Ependion (STO:EPEN) Will Pay A Larger Dividend Than Last Year At SEK1.50