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Swedish (OMX) Tech Sector Analysis

UpdatedFeb 25, 2026
DataAggregated Company Financials
Companies137
  • 7D1.8%
  • 3M-4.4%
  • 1Y-11.6%
  • YTD-0.9%

Over the last 7 days, the Tech industry has risen 1.8%, driven by gains from Hexagon of 3.3%. Meanwhile, Addnode Group actually underperformed within the industry, shrinking 7.0% in the last week. In the past year, the industry is down 12%. Earnings are forecast to grow by 8.7% annually.

Sector Valuation and Performance

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

DateMarket CapRevenueEarningsPEAbsolute PEPS
Wed, 25 Feb 2026SEK 836.0bSEK 441.0bSEK 36.4b21.6x22.9x1.9x
Fri, 23 Jan 2026SEK 814.7bSEK 448.1bSEK 35.5b25.6x22.9x1.8x
Sun, 21 Dec 2025SEK 853.5bSEK 449.0bSEK 35.7b26.8x23.9x1.9x
Tue, 18 Nov 2025SEK 872.6bSEK 451.3bSEK 35.6b27.1x24.5x1.9x
Thu, 16 Oct 2025SEK 894.6bSEK 452.4bSEK 32.6b28.2x27.4x2x
Sat, 13 Sep 2025SEK 839.0bSEK 457.4bSEK 25.1b31x33.5x1.8x
Mon, 11 Aug 2025SEK 840.9bSEK 458.5bSEK 25.7b29.5x32.7x1.8x
Wed, 09 Jul 2025SEK 899.5bSEK 464.5bSEK 11.0b26x82.1x1.9x
Fri, 06 Jun 2025SEK 892.2bSEK 464.2bSEK 10.6b25.5x83.8x1.9x
Sun, 04 May 2025SEK 867.4bSEK 461.7bSEK 10.1b25.9x86x1.9x
Tue, 01 Apr 2025SEK 889.1bSEK 460.3bSEK 11.1b25.7x80.3x1.9x
Thu, 27 Feb 2025SEK 996.3bSEK 462.5bSEK 9.7b27.3x102.4x2.2x
Sat, 25 Jan 2025SEK 956.3bSEK 464.1bSEK 3.2b25.2x300.9x2.1x
Mon, 23 Dec 2024SEK 914.2bSEK 465.1bSEK 3.2b24.6x283.6x2x
Wed, 20 Nov 2024SEK 861.8bSEK 463.7bSEK 3.4b23.5x256.6x1.9x
Fri, 18 Oct 2024SEK 887.5bSEK 462.8bSEK 7.1b26.4x125.4x1.9x
Sun, 15 Sep 2024SEK 853.4bSEK 464.3b-SEK 27,405,302,831.5327.9x-31.1x1.8x
Tue, 13 Aug 2024SEK 829.9bSEK 464.9b-SEK 27,389,507,712.4225.1x-30.3x1.8x
Thu, 11 Jul 2024SEK 878.5bSEK 467.9b-SEK 17,922,121,063.6029.4x-49x1.9x
Sat, 08 Jun 2024SEK 876.3bSEK 468.0b-SEK 17,964,149,818.1927.8x-48.8x1.9x
Mon, 06 May 2024SEK 830.3bSEK 472.3b-SEK 17,223,692,521.2427.9x-48.2x1.8x
Wed, 03 Apr 2024SEK 865.4bSEK 483.2b-SEK 18,676,623,593.1929.1x-46.3x1.8x
Fri, 01 Mar 2024SEK 846.3bSEK 482.1b-SEK 19,346,241,857.5528.9x-43.7x1.8x
Sun, 28 Jan 2024SEK 832.9bSEK 480.8b-SEK 19,002,383,779.0031.3x-43.8x1.7x
Tue, 26 Dec 2023SEK 844.7bSEK 493.9b-SEK 16,393,310,974.0029.3x-51.5x1.7x
Thu, 23 Nov 2023SEK 729.8bSEK 496.9b-SEK 16,233,595,941.0026.9x-45x1.5x
Sat, 21 Oct 2023SEK 661.5bSEK 496.3b-SEK 18,601,330,602.0022.1x-35.6x1.3x
Mon, 18 Sep 2023SEK 702.9bSEK 502.1bSEK 17.6b22.7x39.9x1.4x
Wed, 16 Aug 2023SEK 731.4bSEK 500.8bSEK 17.4b23.9x42.1x1.5x
Fri, 14 Jul 2023SEK 803.7bSEK 493.6bSEK 23.3b22.8x34.5x1.6x
Sun, 11 Jun 2023SEK 833.8bSEK 494.2bSEK 23.5b23.8x35.5x1.7x
Tue, 09 May 2023SEK 803.8bSEK 490.5bSEK 23.3b26.2x34.4x1.6x
Thu, 06 Apr 2023SEK 811.2bSEK 478.7bSEK 24.2b27.2x33.6x1.7x
Sat, 04 Mar 2023SEK 821.9bSEK 452.9bSEK 24.0b28.2x34.3x1.8x
Price to Earnings Ratio

34.3x


Total Market Cap: SEK 821.9bTotal Earnings: SEK 24.0bTotal 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 22.9x 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 15% 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 Market1.61%
Tech1.77%
Semiconductors6.09%
Software4.47%
Electronic Equipment and Components3.52%
Tech Hardware0.71%
Communications-0.04%
IT-4.06%
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 33.0%, 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 99.223.3%
+SEK 8.6b		-19.2%PE40.5x
LAGR B Lagercrantz GroupSEK 215.803.4%
+SEK 1.4b		-5.4%PE38.9x
SINCH SinchSEK 21.818.3%
+SEK 1.2b		-12.8%PE77.1x
HANZA HanzaSEK 152.6013.4%
+SEK 1.1b		89.8%PE47.8x
NCAB NCAB GroupSEK 53.8511.0%
+SEK 1.0b		3.6%PE48.9x

Latest News

HANZA
SEK 152.60
Hanza
7D
13.4%
1Y
89.8%
HMS
SEK 388.60
HMS Networks
7D
-1.0%
1Y
-21.2%

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 199.84
Mycronic
7D
1.5%
1Y
-14.0%

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 3.31
Cint Group
7D
48.7%
1Y
-62.4%
ANOD B
SEK 65.40
Addnode Group
7D
-7.0%
1Y
-40.5%
DUST
SEK 1.51
Dustin Group
7D
-5.7%
1Y
-63.8%
PRIC B
SEK 2.94
Pricer
7D
-15.0%
1Y
-69.4%

PRIC B: New Retail Contracts Will Support Future Upside Potential

Analysts have reduced their price target on Pricer by SEK0.88 to reflect updated views on fair value, growth, margins and future P/E expectations, resulting in a more measured outlook for the shares. What's in the News Carrefour, where Pricer has been the exclusive supplier of electronic shelf labels in France, is adding an additional supplier for digital in-store solutions.
YUBICO
SEK 49.80
Yubico
7D
-1.5%
1Y
-76.5%

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.
LIME
SEK 180.00
Lime Technologies
7D
-3.0%
1Y
-50.6%
SINCH
SEK 21.81
Sinch
7D
8.3%
1Y
-12.8%
HEXA B
SEK 99.22
Hexagon
7D
3.3%
1Y
-19.2%

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.
NCAB
SEK 53.85
NCAB Group
7D
11.0%
1Y
3.6%
BRIX
SEK 20.10
Briox
7D
-6.9%
1Y
320.5%

Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation

Feb 13
Here's Why We're Not Too Worried About Briox's (NGM:BRIX) Cash Burn Situation
KNOW
SEK 110.80
Knowit
7D
-5.1%
1Y
-24.7%

Knowit AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now

Feb 11
Knowit AB (publ) Earnings Missed Analyst Estimates: Here's What Analysts Are Forecasting Now
NOTE
SEK 193.00
NOTE
7D
11.4%
1Y
19.1%

NOTE: Refined Assumptions And Steady Fair Value Will Support Future Upside

Analysts have slightly adjusted their price target on NOTE to reflect updated assumptions around discount rate, revenue growth, profit margin and future P/E, while keeping fair value broadly aligned with prior estimates. Valuation Changes Fair Value: Held steady at SEK 200.0, indicating no change in the central valuation output.
LAGR B
SEK 215.80
Lagercrantz Group
7D
3.4%
1Y
-5.4%

Analysts Have Made A Financial Statement On Lagercrantz Group AB (publ)'s (STO:LAGR B) Third-Quarter Report

Feb 10
Analysts Have Made A Financial Statement On Lagercrantz Group AB (publ)'s (STO:LAGR B) Third-Quarter Report